Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Miz4r]

In other news ...

ouch

Dear Mt. Gox Customers,

In order to comply with strict anti-money laundering regulations we are now requiring account verifications for all accounts performing non-Bitcoin currency deposits and withdrawals. Please see our statement for the full explanation:

https://mtgox.com/press_release_20130530.html

Best regards,

Mt. Gox Team

Not a great surprise really ... I would imagine anyone who does not want to be verified has been getting their cash off Gox or buying BTC post Dwolla

Interesting though is the use of the phrase 'at this time' wrt BTC withdrawals ... implication to me is that it is a possibility in the future

The are either very ignorant or they really think they are outside of the reach of the USG.  This means nothing, as it relates to USD, if you don't have a MSB license.  To my knowledge, they still don't.  Speculation:  Mt. Gox is going down.  This would be a devastating blow to the Bitcoin economy.  Just looking at the market depth, there is currently ~$18 million in BTC.  And looks like ~$16 million in fiat.  And that's just what's in limit orders.  No telling how much is just sitting in accounts.  Either way, if ~$34 million instantly vanished from the Bitcoin economy, it's going to leave a mark.  Hell, people can't even read a forum post without freaking out.  The panic selloff that would result at the remaining exchanges, would be tremendous. 

Cheap coins anyone?   

Good to see you're back as your FUD spreading self, never liked you as a bull anyway. Get off my lawn.

[Coinseeker]

In other news ...

ouch

Dear Mt. Gox Customers,

In order to comply with strict anti-money laundering regulations we are now requiring account verifications for all accounts performing non-Bitcoin currency deposits and withdrawals. Please see our statement for the full explanation:

https://mtgox.com/press_release_20130530.html

Best regards,

Mt. Gox Team

Not a great surprise really ... I would imagine anyone who does not want to be verified has been getting their cash off Gox or buying BTC post Dwolla

Interesting though is the use of the phrase 'at this time' wrt BTC withdrawals ... implication to me is that it is a possibility in the future

The are either very ignorant or they really think they are outside of the reach of the USG.  This means nothing, as it relates to USD, if you don't have a MSB license.  To my knowledge, they still don't.  Speculation:  Mt. Gox is going down.  This would be a devastating blow to the Bitcoin economy.  Just looking at the market depth, there is currently ~$18 million in BTC.  And looks like ~$16 million in fiat.  And that's just what's in limit orders.  No telling how much is just sitting in accounts.  Either way, if ~$34 million instantly vanished from the Bitcoin economy, it's going to leave a mark.  Hell, people can't even read a forum post without freaking out.  The panic selloff that would result at the remaining exchanges, would be tremendous. 

Cheap coins anyone?   

Good to see you're back as your FUD spreading self, never liked you as a bull anyway. Get off my lawn.

   Only it's not FUD, its law.  Continuing to dismiss everything you don't like as "FUD" only leaves you flatfooted when the ish hits the fan.  No sweat off my back....but the gif images on that day are going to be classic.   

[Richy_T]

Even I'm getting fed up with ChartBuddy right now. Though I'd still like interesting changes to be included. Anyone got any good ideas on what would make a chart worthy of posting in the thread? Bear in mind that Chartbuddy actually isn't aware of the price (Though possibly he should be).

[el_rlee]

Just ignore him... and stop spamming the thread with complaints.

I like to see bitstamp 24h volume is already 50% of gox.

[Rampion]

ouch

Dear Mt. Gox Customers,

In order to comply with strict anti-money laundering regulations we are now requiring account verifications for all accounts performing non-Bitcoin currency deposits and withdrawals. Please see our statement for the full explanation:

https://mtgox.com/press_release_20130530.html

Best regards,

Mt. Gox Team

Well, just all wait till the day MtGox get hacked (again) or seized by government. Suddenly, all those Bitcoin addresses used to fund/withdraw will be cleanly linked to your ID, photo, bank account, postal address. Nice.

  

This is a real risk everybody trading significant amounts of fiat for BTC is exposed to - now and also in the past. If you are dealing with peanuts, you can get away with dealing with BTC anonymously. But if you are trading high 6 figures of fiat (and those guys, together with the 7 figures players are the market makers, and not the Dwolla users) you need to be ultra-verified with notarized documents in any case.

[ChartBuddy]

[rezurect]

Today's or short term outlook?

[fluidjax]

In other news ...

ouch

Dear Mt. Gox Customers,

In order to comply with strict anti-money laundering regulations we are now requiring account verifications for all accounts performing non-Bitcoin currency deposits and withdrawals. Please see our statement for the full explanation:

https://mtgox.com/press_release_20130530.html

Best regards,

Mt. Gox Team

Not a great surprise really ... I would imagine anyone who does not want to be verified has been getting their cash off Gox or buying BTC post Dwolla

Interesting though is the use of the phrase 'at this time' wrt BTC withdrawals ... implication to me is that it is a possibility in the future

The are either very ignorant or they really think they are outside of the reach of the USG.  This means nothing, as it relates to USD, if you don't have a MSB license.  To my knowledge, they still don't.  Speculation:  Mt. Gox is going down.  This would be a devastating blow to the Bitcoin economy.  Just looking at the market depth, there is currently ~$18 million in BTC.  And looks like ~$16 million in fiat.  And that's just what's in limit orders.  No telling how much is just sitting in accounts.  Either way, if ~$34 million instantly vanished from the Bitcoin economy, it's going to leave a mark.  Hell, people can't even read a forum post without freaking out.  The panic selloff that would result at the remaining exchanges, would be tremendous.  

Cheap coins anyone?  

Coinseeker, Jeez, you really have a knack of turning something fairly innocuous into the end of the world. This in itself is fairly meaningless. It is inevitable that the fiat gateways into Bitcoin are going to be tightened up.
If you move large quantities of fiat around, governments want to know about it, simple. You can't escape it, and are not going to be able to escape it in the future.

[Rampion]

What about ignoring Coinseeker and not quoting him at all?

[crazy_rabbit]

ouch

Dear Mt. Gox Customers,

In order to comply with strict anti-money laundering regulations we are now requiring account verifications for all accounts performing non-Bitcoin currency deposits and withdrawals. Please see our statement for the full explanation:

https://mtgox.com/press_release_20130530.html

Best regards,

Mt. Gox Team

Well, just all wait till the day MtGox get hacked (again) or seized by government. Suddenly, all those Bitcoin addresses used to fund/withdraw will be cleanly linked to your ID, photo, bank account, postal address. Nice.

  

This is a real risk everybody trading significant amounts of fiat for BTC is exposed to - now and also in the past. If you are dealing with peanuts, you can get away with dealing with BTC anonymously. But if you are trading high 6 figures of fiat (and those guys, together with the 7 figures players are the market makers, and not the Dwolla users) you need to be ultra-verified with notarized documents in any case.

I think people moving millions are probably working with special agreements with GOX. Their money isn't going 'poof' overnight anytime soon.

I think the REAL question no one is asking is when exchanges are going to be forced to play bitcoin police for stolen BTC. That's the real question.

[wonkytonky]

What about ignoring Coinseeker and not quoting him at all?

nope
new readers need to know he's only saying things to get cheap coins  

[Coinseeker]

Coinseeker, Jeez, you really have a knack of turning something fairly innocuous into the end of the world. This in itself is fairly meaningless. It is inevitable that the fiat gateways into Bitcoin are going to be tightened up.
If you move large quantities of fiat around, governments want to know about it, simple. You can't escape it, and are not going to be able to escape it in the future.

Well, I don't live in a libertarian, pro-Bitcoin bubble.  I live in the real world  Pretending to comply and being in actually licensed compliance, are not the same thing.  That's as silly as saying, I'm following all the traffic laws so therefore, I don't need a drivers license and insurance.  (In the US anyway.)  It's all good....until you actually get pulled over.   

[Coinseeker]

What about ignoring Coinseeker and not quoting him at all?

Why?  Because everytime you open your mouth, you get owned?  That's cool...if that's how you want to win.   

[Rampion]

ouch

Dear Mt. Gox Customers,

In order to comply with strict anti-money laundering regulations we are now requiring account verifications for all accounts performing non-Bitcoin currency deposits and withdrawals. Please see our statement for the full explanation:

https://mtgox.com/press_release_20130530.html

Best regards,

Mt. Gox Team

Well, just all wait till the day MtGox get hacked (again) or seized by government. Suddenly, all those Bitcoin addresses used to fund/withdraw will be cleanly linked to your ID, photo, bank account, postal address. Nice.

   

This is a real risk everybody trading significant amounts of fiat for BTC is exposed to - now and also in the past. If you are dealing with peanuts, you can get away with dealing with BTC anonymously. But if you are trading high 6 figures of fiat (and those guys, together with the 7 figures players are the market makers, and not the Dwolla users) you need to be ultra-verified with notarized documents in any case.

I think people moving millions are probably working with special agreements with GOX. Their money isn't going 'poof' overnight anytime soon.

I think the REAL question no one is asking is when exchanges are going to be forced to play bitcoin police for stolen BTC. That's the real question.

Maybe some of the people dealing with millions have some "special agreement" with Gox, but I can guarantee you that at least some of those dealing with hundreds of thousands are not.

And consider that there are a lot of people in here whose bitcoins were worth let's say $30,000 6 months ago, and now those BTC are worth $300,000. That people needs to be registered with notarized documents + apostille if they want to be able to withdraw more than $10,000 per day (and $50,000 max per month), which is a pain in the ass because you also lose a lot of money in commissions (Gox's, Gox's bank, your own bank... You just want to withdraw as much as possible in one shot or you lose money).

[Dalib]

Today's or short term outlook?

I hope that we will see 137-140 in 1-3 days ... (but the next day it's the weekend, so I do not know)

[Piper67]

Today's or short term outlook?

I hope that we will see 137-140 in 1-3 days ... (but the next day it's the weekend, so I do not know)

For the last few weekends, the weekend dip has been reversed. Price rises on the weekend and, if anything, dips quite a bit on Monday, Tuesday and even Wednesday, before starting to climb again.

[KS]

Today's or short term outlook?

I hope that we will see 137-140 in 1-3 days ... (but the next day it's the weekend, so I do not know)

For the last few weekends, the weekend dip has been reversed. Price rises on the weekend and, if anything, dips quite a bit on Monday, Tuesday and even Wednesday, before starting to climb again.

pros off on break and weekend traders on the rise.

if the pros leave the boat...

[Dalib]

Today's or short term outlook?

I hope that we will see 137-140 in 1-3 days ... (but the next day it's the weekend, so I do not know)

For the last few weekends, the weekend dip has been reversed. Price rises on the weekend and, if anything, dips quite a bit on Monday, Tuesday and even Wednesday, before starting to climb again.

pros off on break and weekend traders on the rise.

if the pros leave the boat...

maybe

edit: traders have a week to work and on weekends traded 

[ChartBuddy]

[ErisDiscordia]

Haha coinseeker, there he goes again talking about how he lives in the "real" world and about "winning" an internet argument