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

[ardana123]

Anyone think arbitrage with Gox is worth it if you're dealing in euros? Yes you have to wait 6 weeks but it's easy profit. What worries me the most is that Gox might get shut down or something.

Again gox fud. Just don't trade on gox thats easy enough.

What's fud about what I just said?

[T.Stuart]

Is doesn't seem like a smart move to take an unsecured bet with someone that you don't believe will pay. If you lost you would have to pay or be labeled a scammer. He has everything to win and nothing to lose. The most you can hope to do is not lose.

I understand what you are saying but in principle for me:

1. If I make a bet with someone I honour it... not because they need the money but because I keep my word or lose my reputation. An escrow is fine but doesn't change this.

2. Bitcoin was not going so low in so short a time. No question. That's why I took the bet. That's why 8 or so others jumped in also! And if China had announced banning Bitcoin an hour after the bet then bad luck for me.

Contrary to what you say TheCoinBull will lose his reputation if he doesn't pay. That's his choice to make. I'll leave that up to him.

[KFR]

You make the assumption that he cares about that forum account's reputation more than his coins. 

[T.Stuart]

You make the assumption that he cares about that forum account's reputation more than his coins. 

I'm not making any assumption. I don't care. That's his choice!

[niothor]

You make the assumption that he cares about that forum account's reputation more than his coins. 

It was a good account for starting an IPO , at least it wasn't 1 day old. =))))

[Nightowlace]

Can someone please bring Gox down to Stamps price?

[QuestionAuthority]

Is doesn't seem like a smart move to take an unsecured bet with someone that you don't believe will pay. If you lost you would have to pay or be labeled a scammer. He has everything to win and nothing to lose. The most you can hope to do is not lose.

I understand what you are saying but in principle for me:

1. If I make a bet with someone I honour it... not because they need the money but because I keep my word or lose my reputation. An escrow is fine but doesn't change this.

2. Bitcoin was not going so low in so short a time. No question. That's why I took the bet. That's why 8 or so others jumped in also! And if China had announced banning Bitcoin an hour after the bet then bad luck for me.

Contrary to what you say TheCoinBull will lose his reputation if he doesn't pay. That's his choice to make. I'll leave that up to him.

No, I get it. You felt it was a no brainer bet. The payoff for you is watching him destroy his rep. I guess that does have, at least, a sadistic value. Schadenfreude lovers unite! lol

[T.Stuart]

Is doesn't seem like a smart move to take an unsecured bet with someone that you don't believe will pay. If you lost you would have to pay or be labeled a scammer. He has everything to win and nothing to lose. The most you can hope to do is not lose.

I understand what you are saying but in principle for me:

1. If I make a bet with someone I honour it... not because they need the money but because I keep my word or lose my reputation. An escrow is fine but doesn't change this.

2. Bitcoin was not going so low in so short a time. No question. That's why I took the bet. That's why 8 or so others jumped in also! And if China had announced banning Bitcoin an hour after the bet then bad luck for me.

Contrary to what you say TheCoinBull will lose his reputation if he doesn't pay. That's his choice to make. I'll leave that up to him.

No, I get it. You felt it was a no brainer bet. The payoff for you is watching him destroy his rep. I guess that does have, at least, a sadistic value. Schadenfreude lovers unite! lol

No. First we made a bet for Bitcoin. Then we agreed to pay the escrow. But when he apologised for getting caught in a blizzard or something  I just told him what I thought: we made a bet and an escrow doesn't change that from my side and that's that.

[seljo]

Anyone think arbitrage with Gox is worth it if you're dealing in euros? Yes you have to wait 6 weeks but it's easy profit. What worries me the most is that Gox might get shut down or something.

Again gox fud. Just don't trade on gox thats easy enough.

What's fud about what I just said?

The last sentence of the first post.

[humanitee]

Anyone think arbitrage with Gox is worth it if you're dealing in euros? Yes you have to wait 6 weeks but it's easy profit. What worries me the most is that Gox might get shut down or something.

Again gox fud. Just don't trade on gox thats easy enough.

What's fud about what I just said?

The last sentence of the first post.

I don't see how that's FUD. That's why I don't keep coins on any exchange.

[KFR]

Anyone think arbitrage with Gox is worth it if you're dealing in euros? Yes you have to wait 6 weeks but it's easy profit. What worries me the most is that Gox might get shut down or something.

Again gox fud. Just don't trade on gox thats easy enough.

What's fud about what I just said?

The last sentence of the first post.

I advised a good friend to pull out of Gox today out of a genuine concern that Gox doesn't feel anywhere near as safe to use - particularly for large sums - as it once was.  If they had made any really significant progress in solving their international fiat withdrawal problems it would be different - but their conduct thus far continues to make me queasy.  This is entirely subjective but it's honest and it would appear there are more and more people that feel this way.

I share your distaste for FUD however even longterm bulls like myself are allowed to have, and indeed share, our specific concerns.

[Satyre_Noir]

Their funds in USA are sized and they are in middle of massive law suit...   Gox is dead man.

[niothor]

Their funds in USA are sized and they are in middle of massive law suit...   Gox is dead man.

Look at the trade volume , they have recovered those frozen funds 10x times by now.

[Satyre_Noir]

Their funds in USA are sized and they are in middle of massive law suit...   Gox is dead man.

Look at the trade volume , they have recovered those frozen funds 10x times by now.

maybe they are stashing users funds to pay off 75 000 000$ law suit? I don't think so but what ever they are doing will fail, more and more serious people enter btc market each they, i don't see how they can survive with such bad business practice. Thanks God I'm on Bitstamp.

[ChartBuddy]

Explanation

[medialab101]

Widening gap mean what , we go up or down

The gap means that having 1.00 USD in a MtGox account is as good as having ~0.85 USD in a Bitstamp or other exchange's account.  The widening means that the "Gox dollar" is losing value.

Is there a way to trade on the difference between the two.  Thanks from the "new guy"

Yes if you reside in Japan or have Japan Bank account

I reside in Japan, have a Japanese bank account (in ¥ and USD), have gone through all the bullshit to get 'trusted' status for large withdrawals and I still can't arb. I thought getting trusted automatically gave you the withdrawal increase bump but apparently you have to request it. I requested it over 10 days ago and still no increase. On top of that, the withdrawals I've tried to make in USD to my Japanese account have all been cancelled and support hasn't gotten back to me with an explanation why. THUS, the artificially high prices... impossible to arg Gox I imagine.

[wachtwoord]

Hey Bitcoin gods. I'm doing the longest time thing and all. But I'd like to get filthy rich tonight, so would you mind hurrying up

[niothor]

Hey Bitcoin gods. I'm doing the longest time thing and all. But I'd like to get filthy rich tonight, so would you mind hurrying up

You'll have to w8 a bit , the guys in rpietila lounge are talking about a drop to 500 =))))

[aminorex]

Hey Bitcoin gods. I'm doing the longest time thing and all. But I'd like to get filthy rich tonight, so would you mind hurrying up

You'll have to w8 a bit , the guys in rpietila lounge are talking about a drop to 500 =))))

618 has the most votes so far.  Not sure how much wisdom-of-crowds you can derive without a crowd, however.

[jojo69]

I'm down for $618 coins