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

[Chalkbot]

anyone read this? http://mashable.com/2013/10/14/bitcoin-backlash/

I wonder if he failed to realize the banks have already been fighting bitcoin. Accounts associated with bitcoin transactions are shut down just about every day. The US government has begun tying up any organization affiliated with bitcoin with a bundle of red tape. Bitcoin business is moving or growing outside of the US for these reasons. Everything short of declaring it illegal in the US has already taken place. I can only assume that the recent interest with subpeonas and meetings with BTC foundation are to get an understanding of exactly how to write that law in a way that it only applies to bitcoin, or other crypto forks. Digital currency is a whole lot more agile than US law, so they need to get it just right, and it needs to be a surprise.

That being said, the next step is "then you win".

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[ElectricMucus]

anyone read this? http://mashable.com/2013/10/14/bitcoin-backlash/

It's garbage.

How so? People were touting their horns about it the whole time, and now suddenly as it appears to be happening it's supposed to be not?
Of course lobbyists are onto Bitcoin, the whole gox situation wouldn't be there if they weren't.

I think this article is a pretty consistent explanation of current affairs.

[thoughtfan]

anyone read this? http://mashable.com/2013/10/14/bitcoin-backlash/

I wonder if he failed to realize the banks have already been fighting bitcoin. Accounts associated with bitcoin transactions are shut down just about every day. The US government has begun tying up any organization affiliated with bitcoin with a bundle of red tape. Bitcoin business is moving or growing outside of the US for these reasons. Everything short of declaring it illegal in the US has already taken place. I can only assume that the recent interest with subpeonas and meetings with BTC foundation are to get an understanding of exactly how to write that law in a way that it only applies to bitcoin, or other crypto forks. Digital currency is a whole lot more agile than US law, so they need to get it just right, and it needs to be a surprise.

That being said, the next step is "then you win".

Even if they take all the preparatory steps and design this perfect law to criminalise Bitcoin's use for legit businesses if things keep going as they are they will not dare take the step of implementing it for fear of losing out to the rest of the world which appears to be in the process of reaping the rewards of crypto's agility in facilitating commerce.  As I said on the Baidu thread, fear of losing power to other nations is a massive motivator for the US - even more I think than losing power to its own citizens - which is what Bitcoin has the potential to empower.

[Kupsi]

anyone read this? http://mashable.com/2013/10/14/bitcoin-backlash/

It's garbage.

How so? People were touting their horns about it the whole time, and now suddenly as it appears to be happening it's supposed to be not?
Of course lobbyists are onto Bitcoin, the whole gox situation wouldn't be there if they weren't.

I think this article is a pretty consistent explanation of current affairs.

I haven't seen a single government that is hostile against Bitcoin.

[SheHadMANHands]

Are we at the point where Gox "follows" Stamp (or at least seems to respect it)?

I feel like if Gox snaps too high over Stamp, and Stamp doesn't follow (pretty typical) someone dumps Gox back down.  By "too high" I mean maybe >11/12% (over Stamp) and Stamp doesn't follow.  Any truth to that?

We seem to be ~ one month from Stamp 30 day volume matching or even overtaking Gox.

[ChartBuddy]

[bobdude17]

Daaayum wall setters beware. Buyers are calling your bluff. Everytime somebody puts a medium to large size sell order it gets snatched up quick!

[Sword Smith]

Am I the only one who has the feeling that this is about to go North?

[NewLiberty]

anyone read this? http://mashable.com/2013/10/14/bitcoin-backlash/

It's garbage.

How so? People were touting their horns about it the whole time, and now suddenly as it appears to be happening it's supposed to be not?
Of course lobbyists are onto Bitcoin, the whole gox situation wouldn't be there if they weren't.

I think this article is a pretty consistent explanation of current affairs.

I haven't seen a single government that is hostile against Bitcoin.

True, they just want the vig.

[SheHadMANHands]

Am I the only one who has the feeling that this is about to go North?

We'll see what happens with that quarter million dollar wall on Stamp probably first.

EDIT: It's getting some nibbles..

[prophetx]

anyone read this? http://mashable.com/2013/10/14/bitcoin-backlash/

It's garbage.

How so? People were touting their horns about it the whole time, and now suddenly as it appears to be happening it's supposed to be not?
Of course lobbyists are onto Bitcoin, the whole gox situation wouldn't be there if they weren't.

I think this article is a pretty consistent explanation of current affairs.

I haven't seen a single government that is hostile against Bitcoin.

Only the US govt has has been significantly hostile.   I do not think you can make that claim for EU govts.  

But the US is currently run by a bunch of bubbas who will attack anything different then what they saw on tv 45+ yrs ago

[byronbb]

Why are the alts crashing when BTC is rallying?

I have been watching the litecoin/bitcoin relationship for a while. I am pretty sure there is a big player who rotates out of litecoin when bitcoin goes up, and vice-versa. He may be playing a type of gamble hoping that if Gox takes LTC there could be a huge rally for him to sell into, so he wants to be in LTC but not at the risk of losing out on btc. The BTC-E litecoin market is very weak so big sell-offs really move the market and it's price action can be easily dominated by a single party. This up/down dynamic is actually a new development, early on ltc followed the btc price moves pretty much in step.

Litecoin prospects looks grim indeed. The SR selloff saw a 350K ltc dump to 0.14 and we are just now breeching that low @ .138......

[prophetx]

Lol, Feathercoin. The funny thing is, the Feathercoin guys seem to get that it's about the dev team more than the coin protocol. They're at least putting in the effort to hype their dev team and make it look inviting, which gives them an advantage over the other altcoins.

Oh really?  Can you provide an example?

[bobdude17]

157 breached, same with 895 on btcchina. 140 on stamp is about to fall.

[derpinheimer]

157 breached, same with 895 on btcchina. 140 on stamp is about to fall.

It  already fell once. How big was the  second ask wall?

[Ivanhoe]

This night is going bananas!

[Sword Smith]

157 breached, same with 895 on btcchina. 140 on stamp is about to fall.

And its gone!

[SheHadMANHands]

157 breached, same with 895 on btcchina. 140 on stamp is about to fall.

And its gone!

That's pretty interesting.  $250,000 ask wall bought into on Stamp in like 30 minutes time (at least from when I noticed it)..

[01BTC10]

China is waking up, let's break 160.

[bobdude17]

Wooo btcchina is about to bump on 900 and China is just waking up!