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

[ChartBuddy]

Explanation

[kurious]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

I think no new money is coming in to buy and anyone with coins is trying to get them out, who is buying from this man...?



'The world's leading Bitcoin exchange' with a stupid 'magic' name and messages that give out-of-date excuses.

I bet the even toilets there have an excuse on the wall for the lack of toilet paper, due to the Japanese new year.

[scorp1618]

This
http://www.rumorguru.com/pics/penguin-polar.jpg

+1

https://i.imgur.com/9PX8sXZ.jpg

You win!

[Arvicco]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

[empowering]

[scorp1618]

http://24.media.tumblr.com/6eb5e37da9fda4988ee14dab047a70ae/tumblr_n08yqeE8ZS1qewacoo3_250.gif

lol

[solex]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.

[kurious]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.

Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down.

Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute.

Krapeles is on the (already discredited) Bitcoin Foundation.

It's bad.   Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come.

It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty.  I hope some investors are in there trying to lever Mark out.    This WOULD be good news - I wonder where Loaded and his pals are right now...

[JimboToronto]

But each to their own, I guess - maybe I spent too long liking music, rather than gear

Amen. I spent decades as a professional musician. The music always comes first.

Aaaand... back to Bitcoin before we get flamed, eh?

If it wasn't so grindingly dull right now I wouldn't have replied - we are in danger of trolls and chartbuddy being the only posts here!

Right on. The only reason I replied to the original speaker post was to point out the fact that it was off-topic.

Cheers.

[Davyd05]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.

Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down.

Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute.

Krapeles is on the (already discredited) Bitcoin Foundation.

It's bad.   Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come.

It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty.  I hope some investors are in there trying to lever Mark out.    This WOULD be good news - I wonder where Loaded and his pals are right now...

Well, I mean you have to buy into btc, to transfer out.. which is still easier or more likely easier then fiat international withdrawals.

[kurious]

But each to their own, I guess - maybe I spent too long liking music, rather than gear

Amen. I spent decades as a professional musician. The music always comes first.

Aaaand... back to Bitcoin before we get flamed, eh?

If it wasn't so grindingly dull right now I wouldn't have replied - we are in danger of trolls and chartbuddy being the only posts here!

Right on. The only reason I replied to the original speaker post was to point out the fact that it was off-topic.

Cheers.

I know - no worries

[billyjoeallen]

Bad scenario is if Stamp buys out Gox, bringing back the single point of failure risk. Circle.com has some heavy hitters behind it. I'd like to see a buy out that puts a big exchange in NYC just in time for the next round of counterfeiting by the Fed.

[empowering]

Bad scenario is if Stamp buys out Gox, bringing back the single point of failure risk. Circle.com has some heavy hitters behind it. I'd like to see a buy out that puts a big exchange in NYC just in time for the next round of counterfeiting by the Fed.

+1

[JimboToronto]

these my friend are "la creme de la creme"

One of the top rated speakers manufactured in the world currently, and will set you back a couple of hundred grand.

Oops. I guess I'm a little out of the loop.

I'm still using ancient 20th century Klipsch.  
__

That's my absolute last speaker post in this thread. Back to BTC, as quiet as it may be.  

[kurious]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.

Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down.

Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute.

Krapeles is on the (already discredited) Bitcoin Foundation.

It's bad.   Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come.

It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty.  I hope some investors are in there trying to lever Mark out.    This WOULD be good news - I wonder where Loaded and his pals are right now...

Well, I mean you have to buy into btc, to transfer out.. which is still easier or more likely easier then fiat international withdrawals.

Actually that is the point - you can't get BTC out either now....  That's why it's looking like the last nail if it ain't fixed.

I don't mean to be a doom-sayer, but Gox was 'the big one' and now it has lost the plot.    I can't see how, with lower revenues and market share it will fix the problems while an exodus of confidence is draining its reserves.

There must be a tipping point, and it will go offline if it reaches it.  Click... and it's gone?  I wouldn't bet against it.  Really.

[seleme]

This CoinDesk article

http://www.coindesk.com/poll-mt-gox-withdrawal-issues/

says that

(Mt.GOX) then posted an update saying that large bitcoin withdrawals may have been “stuck”, but that it had resolved the problem by refunding the affected accounts.

Isn't that the same as saying "we did not send those BTC, and we have no plans to do so"?

They have refunded mine for 10.89 BTC withdrawal that was nowhere for 8 days, I just tried to withdraw half of that, it was some 10 minutes ago and it's still not in blockchain.

Looks like another period of waiting for my BTC is in front of me.

Did another one for 1 BTC and still none in Blockchain. So it looks that they refund meant f'all for me.

Try a ticket - they get around to them in 3-5 days at the moment.   Maybe my withdrawals were smaller - but they all went through once the ticket was 'allocated'.  

But I never got refund - I think smaller withdrawals (which is all I dare to risk) just get stuck until someone digs them out.

I went down to pulling 0.5 BTC at a time, but one of those got lost too (then found when I posted a support ticket).  Went for it with 1.4 today - as I am nearly all out now - but sure enough, lost again.

It's pretty bad....

I've sent tickets. 2 for previous stuck and third now.

I've said them Mark can send me my BTC from his cold storage or whatever else but just to send my damn BTC.

[Davyd05]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.

Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down.

Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute.

Krapeles is on the (already discredited) Bitcoin Foundation.

It's bad.   Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come.

It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty.  I hope some investors are in there trying to lever Mark out.    This WOULD be good news - I wonder where Loaded and his pals are right now...

Well, I mean you have to buy into btc, to transfer out.. which is still easier or more likely easier then fiat international withdrawals.

Actually that is the point - you can't get BTC out either now....  That's why it's looking like the last nail if it ain't fixed.

I don't mean to be a doom-sayer, but Gox was 'the big one' and now it has lost the plot.    I can't see how, with lower revenues and market share it will fix the problems while an exodus of confidence is draining its reserves.

There must be a tipping point, and it will go offline if it reaches it.  Click... and it's gone?  I wouldn't bet against it.  Really.

not everyone can't get btc out of gox, so my point is that almost nobody but those in Japan, really get fiat withdrawals at all. Which is what I was leaning towards in the statement that its still easier to get btc. The panic hasn't really shown yet regarding the btc backlog.

agreed the gox thing appears to be approaching a tipping point.

[ChartBuddy]

Explanation

[kurious]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?

Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.

Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down.

Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute.

Krapeles is on the (already discredited) Bitcoin Foundation.

It's bad.   Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come.

It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty.  I hope some investors are in there trying to lever Mark out.    This WOULD be good news - I wonder where Loaded and his pals are right now...

Well, I mean you have to buy into btc, to transfer out.. which is still easier or more likely easier then fiat international withdrawals.

Actually that is the point - you can't get BTC out either now....  That's why it's looking like the last nail if it ain't fixed.

I don't mean to be a doom-sayer, but Gox was 'the big one' and now it has lost the plot.    I can't see how, with lower revenues and market share it will fix the problems while an exodus of confidence is draining its reserves.

There must be a tipping point, and it will go offline if it reaches it.  Click... and it's gone?  I wouldn't bet against it.  Really.

not everyone can't get btc out of gox, so my point is that almost nobody but those in Japan, really get fiat withdrawals at all. Which is what I was leaning towards in the statement that its still easier to get btc. The panic hasn't really shown yet regarding the btc backlog.

agreed the gox thing appears to be approaching a tipping point.

IMO - what's been happening is anyone with fiat has been buying coins in order to gradually ship them out.

Hence the massive spike in the spread between exchanges - it was pushing up to 200 Bux over the rest at one point.

Now this has been sliding down as more goes out than comes in.

The current trouble is because either because they couldn't cope (with a glitch exacerbating the problem), or they couldn't afford it - and it's an attempt to slow the lifeblood leaking away.

Any decently run large turnover company in the tech world (which Gox is) should not have a front page which STILL says:

"Important Reminder:  Due to the New Year holiday observed by Japanese financial institutions between December 29, 2013 and January 6, 2014, deposits and withdrawals are currently experiencing delays.  For withdrawals, your funds will be placed into your bank account once your transaction has been processed.

Please note that European transactions should not be affected by these delays"

I mean - come on....  January the 6th?

[JorgeStolfi]

Pray for a takeover

What would that mean?  

If an exchange's outstanding obligations (the sum of its client's account balances, plus pending bills etc.) are more than its assets (furniture, cash in bank, and coins in wallet), why would anyone want to buy it?