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

[optimi]

Why has the FBI lost faith in the value of bitcoin? Perhaps they have acquired non-public info about price manipulation and plan on taking down some of the exchanges....

*edit*

"lost" implies the FBI did consider it valuable at some point. Again, what caused them to lose faith.... interesting...

Keep trying...

[Peter R]

"In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks."

"The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said"

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

imho i don't believe US government would let go that easy.. good old poker face?

At any rate, they aren't just going to wire it across to gox and dump it on the exchange  

The DPR and Silk Road coins are not "on the move."  The funds are sitting at https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH and https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX -- not a single satoshi has been withdrawn.  

These coins will not be auctioned off before the trial concludes, and would not be sold at Gox or BitStamp.  The wording of the statement "the reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency" makes me suspicious of the credibility of the author's "source in the U.S. Justice Department."  I wonder if Tech Crunch contributor John Biggs (author) has any relation to our fine forum contributor JohnyBigs: https://bitcointalk.org/index.php?topic=372303.0.  

[hyphymikey]

bottom appears to be in, in china.  the buying begins

Hope so

I think we're oversold right now

Its not even 9AM in China, I really doubt this is over.

FYI every crash is "oversold"

[chufchuf]

Hodling is stupid right now. Nothing but negative news on the horizon from China. Why wait until the end of the month?

LOL! i remember you shithole! you were stating the EXACT SAME BULLSHIT back in July at Bitcoin prices around 70$. "why not sell at 70$ when you know that 50$ will be reached?"

The SAME WORDING! LOL! Except of course the China part. Go f---- yourself.

Check my posts. I was one of the few screaming BUY BUY BUY last summer.

Lololol, check out his posts, I won't though. I do remember Walsoraj for two things 1. for being Jaroslaw's lover and 2. for screaming sell sell just before the autumn bull run- he sold all his coins at 95 and then the price flew up like Rocco Siffredi's erection.

[adamstgBit]

looks like we are snapping back.

[Dragonkiller]

"In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks."

"The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said"

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

lol it's funny that they lose faith in its value just as they've seen it go up in value ~10x since they got them just a few short months ago. i think it's nonsense.

[TERA]

Wait where did the author get this information that the FBI is planning to sell the coins and how does the author know the personal opinion of the FBI?

[medialab101]

looks like we are snapping back.

We appear to be out of the 'danger zone.' Until the next big China news at least.

[Dragonkiller]

Wait where did the author get this information that the FBI is planning to sell the coins and how does the author know the personal opinion of the FBI?

author has a "source".

[ChartBuddy]

Explanation

[N12]

Wait where did the author get this information that the FBI is planning to sell the coins and how does the author know the personal opinion of the FBI?

Sources of course.

 

[versace]

buy now or wait some more? seems to be stabilizing at the moment

[Walsoraj]

Perfect storm approaching: Obvious manipulation on Houbi. All China exchanges getting shut down by end of Jan. China's eBay just banned sales of miners. FBI knows something we don't and has lost faith in bitcoin.

The end is near.

[Walsoraj]

well that etf wants $150 million worth of coins... the FBI has $150 million worth of coins...

hmmm....  


edit: that is assuming that story is not BS and i kinda think it is.

Pathetic speculative attempt to restore faith in bitcoin. GTFO.

[Peter R]

The word "faith" is the giveaway.  "Faith" in a seized asset has no relevance in a criminal court case such as this:  "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized by Mr. BigMobbDude.  You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

[Davyd05]

is there any line left that could mean some resistance before the bottom?

looks like we just moved back to a channel we' got in and returned to every time we had a steep rally following the last time we visited low 7s

[Dragonkiller]

The word "faith" is the giveaway.  "Faith" in a seized asset has no relevance in a criminal court case such as this:  "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized by Mr. BigMobbDude.  You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

plea bargain. it's not going to court

[Nightowlace]

buy now or wait some more? seems to be stabilizing at the moment

I am personally waiting for $833

[gmannn]

"In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks."

"The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said"

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

imho i don't believe US government would let go that easy.. good old poker face?

At any rate, they aren't just going to wire it across to gox and dump it on the exchange  

The DPR and Silk Road coins are not "on the move."  The funds are sitting at https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH and https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX -- not a single satoshi has been withdrawn.  

These coins will not be auctioned off before the trial concludes, and would not be sold at Gox or BitStamp.  The wording of the statement "the reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency" makes me suspicious of the credibility of the author's "source in the U.S. Justice Department."  I wonder if Tech Crunch contributor John Biggs (author) has any relation to our fine forum contributor JohnyBigs: https://bitcointalk.org/index.php?topic=372303.0.  

Great find, expect an article on TC tomorrow which claims all responsibility for today's drop and then goes on about how easy the exchange rate is to manipulate.

[N12]

Is it not ironic that our ideological anarchocapitalist hero succumbed his property to the state in exchange for his life, probably soon slaughtering many permapigs high on bitcrack with his actions?

Bow down to The Man! All your Bitcoins are belong to US!