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

[ChartBuddy]

[hyphymikey]

Off topic but Bitcoin related:

Anyone here watch White Collar in the U.S?  The newest episode was quite interesting.

"The team has arrested Brendan "Three Time" Holland, who ran Grey Trade, a black market version of ebay. The plan is to keep the site up and running for a few days to go after sellers. They will pose as buyers and outbid everyone so they aren't allowing illegal transactions to continue."

I guess the writers saw the SilkRoad news lol.

[JustAnotherSheep]

http://blockchain.info/sl/address/1CSBFoN2ANwqXeuQ9daVQYHXoXVfqEtzfa
This one is funny. Bought below 50, missed april's top, and now active again. Did I get it right?

What are you talking about?

http://blockchain.info/sl/address/1CSBFoN2ANwqXeuQ9daVQYHXoXVfqEtzfa
This one is funny. Bought below 50, missed april's top, and now active again. Did I get it right?

That led me here: https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH?offset=400&filter=0

What wallet is this

Wow! WTF?

In the last 24 hours it has received ~BTC144,500 with ~446 BTC354 transactions?

DPRs stash gotten to?

Damn, good guess!

[theonewhowaskazu]

http://blockchain.info/sl/address/1CSBFoN2ANwqXeuQ9daVQYHXoXVfqEtzfa
This one is funny. Bought below 50, missed april's top, and now active again. Did I get it right?

What are you talking about?

http://blockchain.info/sl/address/1CSBFoN2ANwqXeuQ9daVQYHXoXVfqEtzfa
This one is funny. Bought below 50, missed april's top, and now active again. Did I get it right?

That led me here: https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH?offset=400&filter=0

What wallet is this

Wow! WTF?

In the last 24 hours it has received ~BTC144,500 with ~446 BTC354 transactions?

DPRs stash gotten to?

Damn, good guess!

Wow, shit. He only had 100k coins? And those were all stolen? Ouch.

[strawbs]

Any proof those are SR's earnings?

And why in blocks of 324 BTC, seems to be a completely arbitrary number?

[Sitarow]

Trading volume is low.

[freethink2013]

Any proof those are SR's earnings?

And why in blocks of 324 BTC, seems to be a completely arbitrary number?

324 = fbi

https://en.wikipedia.org/wiki/Telephone_keypad

[ChartBuddy]

[adamstgBit]

so now its over 100K coins they have?

[SheHadMANHands]

so now its over 100K coins they have?

Yup, they'll get liquidated at auction probably in several years..  Might cause a sudden drop of a few % at that time, but it wouldn't be different than the 30% daily swings we're already used to.    

It's 1% of the market.  Not 10% / 15%.  Not going to put on my tinfoil hat over it...

[SheHadMANHands]

We pushing back through $200 tonight?  Quick, but consistent, recovery.

[ArticMine]

so now its over 100K coins they have?

http://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH 144,336.39692843 BTC
http://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX 29,657.49172471 BTC

Now the questions that remain are:

Is this the next target?

https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a 111,114.60035823 BTC

As there are suspicions that 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a is also related to SilkRoad / DPR

and

Would there be a "libertarian panic" over the fear that the state will suddenly dump a large amount of BTC?

[adamstgBit]

wtf...

https://github.com/bitcoin/bitcoin/pull/3152

sick joke?

[SheHadMANHands]

so now its over 100K coins they have?

http://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH 144,336.39692843 BTC
http://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX 29,657.49172471 BTC

Now the questions that remain are:

Is this the next target?

https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a 111,114.60035823 BTC

As there are suspicions that 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a is also related to SilkRoad / DPR

and

Would there be a "libertarian panic" over the fear that the state will suddenly dump a large amount of BTC?

Technically, if this ever became a real threat (if they had, say, 10+% of coins), consensus could be reached to just block all transactions from known Gov't public addresses...  I don't see what much they could do with 2% of available coins, beyond very briefly crash the market.  These actions would:

(1)  Cost them $$$.  They wouldn't get max dollar for liquidating their bitcoins if they just drove the price down.
(2)  It would be completely transparent to everyone!  They couldn't secretly do this.  Everyone in the public would know, and it'd be a PR disaster...  The beauty of the Bitcoin protocol is that they can't hide what they do with these funds.

[ArticMine]

so now its over 100K coins they have?

http://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH 144,336.39692843 BTC
http://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX 29,657.49172471 BTC

Now the questions that remain are:

Is this the next target?

https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a 111,114.60035823 BTC

As there are suspicions that 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a is also related to SilkRoad / DPR

and

Would there be a "libertarian panic" over the fear that the state will suddenly dump a large amount of BTC?

Technically, if this ever became a real threat (if they had, say, 10+% of coins), consensus could be reached to just block all transactions from known Gov't public addresses...  I don't see what much they could do with 2% of available coins, beyond very briefly crash the market.  These actions would:

(1)  Cost them $$$.  They wouldn't get max dollar for liquidating their bitcoins if they just drove the price down.
(2)  It would be completely transparent to everyone!  They couldn't secretly do this.  Everyone in the public would know, and it'd be a PR disaster...  The beauty of the Bitcoin protocol is that they can't hide what they do with these funds.

I seriously doubt that there would be anywhere close to the consensus needed to block any particular group of addresses by means of hard fork since that would destroy the fundamental economic value of Bitcoin.

Here is a thread thread that explains why this is such a terrible idea. https://bitcointalk.org/index.php?topic=308106

[mb300sd]

This guys back... http://www.reddit.com/r/Bitcoin/comments/1p6lnq/i_am_loaded_of_bitcointalkorg_ama/

[bobdude17]

Why would you block those coins? What, you only like the free market whan it does things you approve of?

[SheHadMANHands]

Why would you block those coins? What, you only like the free market whan it does things you approve of?

I was just saying theoretically it could be done, if a malicious entity had some absurd % of existing bitcoins.  I don't generally support it, but it has been raised by others numerous times on these forums.  That's all really..

I seriously doubt the US gov't would act with malicious intent with that 1%/2% of BTC because, largely, of point (2)...  transparency.

[ChartBuddy]

[ArticMine]

Why would you block those coins? What, you only like the free market whan it does things you approve of?

I was just saying theoretically it could be done, if a malicious entity had some absurd % of existing bitcoins.  I don't generally support it, but it has been raised by others numerous times on these forums.  That's all really..

I seriously doubt the US gov't would act with malicious intent with that 1%/2% of BTC because, largely, of point (2)...  transparency.

I agree. I do not expect the US government to do anything crazy with the BTC; however there is enough fear and distrust of the state among the Bitcoin community that it could trigger a short term sell-off / panic. Long term this is bullish but in the very short term I would not be surprised if the bears come out of hibernation just like what happened with the initial SilkRoad closure.