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

[vokain]

After all in such countries "everything not allowed is forbidden" -- and as a result laws are generally ignored.

that much is true at least

[billington.mark]

I would agree with u if the market wasn't so skewed from the withdrawal hiatus going on. People want to cash out, hence they are buying bitcoins in order to sell them at a loss. Only reason price is going up.

that doesn't explain other exchanges following.

Denial is not just a river in Egypt.

aaaah i see what you did there

[Rampion]

And indeed it's true that only few Bitcoins that have left the visible order book on MtGox have hit Bitstamp so far.

Indeed. Tens of k's of BTC leaving Gox, but just very few hitting Bitstamp, that's interesting.

[Its About Sharing]

And indeed it's true that only few Bitcoins that have left the visible order book on MtGox have hit Bitstamp so far.

Indeed. Tens of k's of BTC leaving Gox, but just very few hitting Bitstamp, that's interesting.

Why buy for more on Gox then considering no really selling on other exchanges?

[phantastisch]

And indeed it's true that only few Bitcoins that have left the visible order book on MtGox have hit Bitstamp so far.

Indeed. Tens of k's of BTC leaving Gox, but just very few hitting Bitstamp, that's interesting.

People holding or spending ? Maybe ? Well , naw , just preparing the next strike to drive the price down to the 40s...

[vokain]

And indeed it's true that only few Bitcoins that have left the visible order book on MtGox have hit Bitstamp so far.

Indeed. Tens of k's of BTC leaving Gox, but just very few hitting Bitstamp, that's interesting.

leaving the orderbook as in btc being bought and not being put back on at a higher price/withdrawn from mtgox?

[ChartBuddy]

[vokain]

 

Okay a little bit about this Thailand crazyness.

This guy went to some bankers and was like, hey is it cool if we do this? The bankers where like, ummm... Since there are no laws, it must be illegal! Yeah!

Well, if there is no law against it, it is not illegal. Also these guys do not make laws nor do they enforce them. The guy was trying to cover his ass but really he is overreacting and yeah seems to be creating FUD. All the banker guys were going to do was cover their ass as well.

The guy clearly does not know what he is doing and really should not have invested this much time in an exchange if he was going to take this path. Anyway it over all does not mean anything, people are not going to be jailed for buying BTC in Thailand. This "advice" means nothing in a court of law.

 

quelled my panicking for a bit, thanks goat

so my question is, what the hell does the Foreign Exchange Administration and Policy Department do?

[Tzupy]

During the last 24h the ask sum has dropped by about 22k BTC. If this trend continues for 3-4 days,
we'll have a bubble spike at somewhere between 160$ and 230$ IMO (sounds crazy, I know).

[el_rlee]

What's going on? Any explanation for the high volume on Gox? The increase in price?

[vokain]

Okay a little bit about this Thailand crazyness.

This guy went to some bankers and was like, hey is it cool if we do this? The bankers where like, ummm... Since there are no laws, it must be illegal! Yeah!

Well, if there is no law against it, it is not illegal. Also these guys do not make laws nor do they enforce them. The guy was trying to cover his ass but really he is overreacting and yeah seems to be creating FUD. All the banker guys were going to do was cover their ass as well.

The guy clearly does not know what he is doing and really should not have invested this much time in an exchange if he was going to take this path. Anyway it over all does not mean anything, people are not going to be jailed for buying BTC in Thailand. This "advice" means nothing in a court of law.

 

quelled my panicking for a bit, thanks goat

so my question is, what the hell does the Foreign Exchange Administration and Policy Department do?

He was trying to get the Govts permission to do something. He wanted a permit, he wanted a Govt stamp saying he was okay. He did not get that golden star that would protect him in the future but that does not mean for a fact that BTC is illegal in Thailand.

Running an exchange without a permit might be illegal, he really should get his legal stuff in order to do that. But to say the buying and selling of BTC in Thailand is illegal cuz their are no laws is just so dumb I think he might be trolling.

or maybe it's the Bank of Thailand that is trolling us hard

[vokain]

What's going on? Any explanation for the high volume on Gox? The increase in price?

People have run out of coins to sell. People have been asking me for well over 1 million worth of BTC over the last 2 weeks and that never happens. Some people are paying 10% over gox.

Insane.

i don't understand why they don't wire money to gox/bitstamp/et. al. though

[vokain]

Crazy times.

yeah, for sure.

[billington.mark]

I wouldnt say crazy just yet... definitely interesting though.

[el_rlee]

People have been asking me for well over 1 million worth of BTC over the last 2 weeks and that never happens. Some people are paying 10% over gox.

You mean people are asking you to sell BTC for bank T/T on PM here? 1 Mill$ in the last two weeks?
Why would anybody buy OTC so to not influence the price and then offer a spread which makes it lucrative to just sell to him and buy at an exchange at the same time?

Crazy indeed.

[vokain]

Well, if there is no law against it, it is not illegal.

I'm not a lawyer, but here is a quote from my lawyer in Thailand:

In my home country of America, the fundamental basis of law is that every act is LEGAL, unless there is a law that makes that act illegal.  Thailand’s fundamental basis of law is quite different – in Thailand, every act is ILLEGAL, unless there is a law (and process, and procedure) to make it legal.

[vokain]

By the by, one or two $1m purchases would quite upset the price in slippage. At least the 10% commission if what were seeing right now is any sort of indicator.

[el_rlee]

People have been asking me for well over 1 million worth of BTC over the last 2 weeks and that never happens. Some people are paying 10% over gox.

You mean people are asking you to sell BTC for bank T/T on PM here? 1 Mill$ in the last two weeks?
Why would anybody buy OTC so to not influence the price and then offer a spread which makes it lucrative to just sell to him and buy at an exchange at the same time?

Crazy indeed.

Many people have been asking for a lot of coin. Not all offered to pay over gox rate but one guy did at 3000 coins.

I did not ask why but there is demand otc.

Also not one person tried to sell to me.

Could you please make such information public (best in the form of appealing graphics) so I can buy and sell coins accordingly?

[Its About Sharing]

People have been asking me for well over 1 million worth of BTC over the last 2 weeks and that never happens. Some people are paying 10% over gox.

You mean people are asking you to sell BTC for bank T/T on PM here? 1 Mill$ in the last two weeks?
Why would anybody buy OTC so to not influence the price and then offer a spread which makes it lucrative to just sell to him and buy at an exchange at the same time?

Crazy indeed.

Many people have been asking for a lot of coin. Not all offered to pay over gox rate but one guy did at 3000 coins.

I did not ask why but there is demand otc.

Also not one person tried to sell to me.

That is extremely interesting. It goes along with what we are seeing in the BTC market.

Who brought BTC from $65 to the current level? Large traders primarily. There are obviously some big pocketed people out there that see BTC as something.
You know what they say, follow the money...

[ChartBuddy]