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

[Ares]

Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing!

http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.html

Bottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”

and -

He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."

I want to marry you.

[XxionxX]

And what would very good news be? US switching from $ to BTC?
Bad news? Can gox be in even bigger trouble?
Maybe just speculation and/or manipulation.

Look, I love bitcoin and I want to make money. But I would rather not start WWIII, I would like to enjoy my life.

[XxionxX]

Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing!

http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.html

Bottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”

and -

He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."

I want to marry you.

I wonder what the banks will make of this... I have a feeling that this is not the last we have heard from the government.

[kehtolo]

Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing!

http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.html

Bottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”

and -

He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."

I want to marry you.

I wonder what the banks will make of this... I have a feeling that this is not the last we have heard from the government.

Yeah, i'm sure they have to make some sort of statement on this soon, days / weeks.. (probably days).
Right now, I'm treating this with catious optimism. I mean coupled with those buys this morning and in the absence of official statements, it's left to us to (speculate) put 2+2 together ourselves.
Catiously optimistic.

[gandhibt]

Is this going to happen soon?

you taunted him, well done!

Was this the case or did the wall got really eaten?

[Ares]

Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing!

http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.html

Bottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”

and -

He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."

I want to marry you.

I wonder what the banks will make of this... I have a feeling that this is not the last we have heard from the government.

Yeah, i'm sure they have to make some sort of statement on this soon, days / weeks.. (probably days).
Right now, I'm treating this with catious optimism. I mean coupled with those buys this morning and in the absence of official statements, it's left to us to (speculate) put 2+2 together ourselves.
Catiously optimistic.

By Vessenes' lack of a negative statement, we can infer that these recent buys weren't just an insider looking to get out of gox, and dump elsewhere before the bad news gets publicized. It would appear that it was a legitimate buy order. Cautious optimism is always a good bet, but i'm sure if there was truly cause for concern (beyond what is already known), Vessenes' would have said something.

That said, there are still hurdles.

[thoughtfan]

Putting aside the possibility this buy was on 'insider knowledge' (it's not that rare to see buying of this nature on this scale) I'm not persuaded by the suggestion this is someone new entering the market (why the dickens would they want to buy at gox prices?).  If it is money that was already on gox likelihood is it is money that came from the sale of bitcoins sometime in the last four months.  I'm guessing I was not alone upon seeing the first drop deciding simply not to buy until I was reasonably confident the downtrend had finished.  I recommenced buying ten days ago.  I certainly wasn't the bravest nor the first but I'm also guessing I'm far from the last.

Remember a huge amount of USD was taken out of bitcoins in late April/May, some of it for good but much more I suspect on the wait-and-see principle.  Now it's looking less likely by the day that something disastrous is going to happen to the currency itself (a gox collapse excepted) so deciding just to go for it one night/morning (depending where these few buyers are) doesn't seem so unreasonable a behaviour.

Granted if they wanted to get the most bitcoins for their money they could have spent some time watching the walls and trading as many here do but not everybody has the time nor the interest to be playing that game.  On the bigger scale of things if they got out at a fair price to protect their assets with view to getting back in after the downtrend and are expecting this thing to resume exponential growth losing a few percentage points on slippage getting back in is not a big deal.

Of course I could be totally wrong and this may be the 'hammer' as I'm sure someone will be only to happy to remind us...

But this is how my preferred long-term wma weekly is currently looking:

[samson]

Isn't there a second Bitcoin Foundation meeting today ?

[Ares]

Isn't there a second Bitcoin Foundation meeting today ?

Yes, with congressmen.

[samson]

Isn't there a second Bitcoin Foundation meeting today ?

Yes, with congressmen.

That's what I thought, I would expect a statement at some point after the second meeting.

[ChartBuddy]

[jl2012]

It is the first time since the big crash we hit overbought zone in daily RSI, in all major markets (gox, stamp, e and china)

[bitcryptonit]

soon there might be no bitcoins for sale

[ChartBuddy]

[stereotype]

I can see Peter's "....dive right in" remark, used as a mantra for a period of time. Ive already managed to use it.....
https://bitcointalk.org/index.php?topic=246228.msg3017152#msg3017152

[wonkytonky]

soon there might be no bitcoins for sale

ive seen that before.. and thats when the bubble crashed

[stereotype]

This wall is going to be hypnotic today, me thinks.... http://trading.i286.org/

[Loozik]

Holly cow - what a rally!

[Ray Anastasio]

Wow, just woke up.  What happened to the ask wall of Jericho at $125?  Did it vanish as the market approached and reappear as a bid wall at $127?

[smoothie]

Lift-off commencing!