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

[medialab101]

so what do all the people do with the GOX $ now?

I'm guessing withdrawals to Yen are still working.

I'm going on 10 days now so if they are working they are not working well..

[Rampion]

so what do all the people do with the GOX $ now?

I'm guessing withdrawals to Yen are still working.

Not really. Withdrawals problems have spread to all currencies: EUR, JPY, etc.

One importante question arises: WHERE THE FUCK IS KARPELES?

[Dragonkiller]

Lol, I just made 5.5 BTC on that scam Maxcoin in like 5 minutes  

did it skyrocket?

it reached 0.043 on McxNow, then dropped to my 0.007 bid, now back to 0.03

Crazy stuff, it's worth nowhere near that.

How do you determine the value of a scamcoin relative to bitcoin?

That is one thing I don't understand. Say you mine some maxcoins, and you are the first miner to start selling, how do you price it?

I waited to see what a trading range is. I thought it would start selling at 0000s or something tbh, it was ultimately scam launch. But Keiser and his gang took care that it starts trading at 01 for few hours and than it exploded when MCXNow added it. I've put 007 bid when it was around 02, just in case and it got partly filled just to rebounce heavily again.

Nice  

I need to start taking a proper look at altcoins

[klee]

so what do all the people do with the GOX $ now?

I'm guessing withdrawals to Yen are still working.

Not really. Withdrawals problems have spread to all currencies: EUR, JPY, etc.

One importante question arises: WHERE THE FUCK IS KARPELES?

In a room with FBI agents?

[marcus_of_augustus]

so what do all the people do with the GOX $ now?

Goooooooooooooxxxxxxxxxed!

[kurious]

Cryptsy down - does that mean they added 'MaxCoin' and were overwhelmed..?

[Mythul]

MT GOX just played......

[HairyMaclairy]

so what do all the people do with the GOX $ now?

I'm guessing withdrawals to Yen are still working.

Not really. Withdrawals problems have spread to all currencies: EUR, JPY, etc.

One importante question arises: WHERE THE FUCK IS KARPELES?

On his yacht in the Med.

[oda.krell]

Gox is below bitstamp? How is that possible?
Are fiat withdrawals working again?

It's actually not that difficult to see why.

Put yourself in the shoes of one of the poor sods who didn't heed the warnings (and warnings. and warnings. and warnings...) to get out of that shithole mtgox.

Until recently it was accepted that they have a fiat problem, ergo: a USD/BTC premium, in the range of 10 to 15%, because the goxtards felt holding btc is more secure.

Now it turns out gox is one step away from going belly up, as they have problems with the coin withdrawal as well...

What to do? Buy coins (that you can't withdraw), or sell coins (to get fiat you can't withdraw either).

The result is really pretty simple: panic.

And panic, in any market, leads to a crashing price of the asset, plain and simple.

Basically yes. But how do you explain the lower volume than bitstamp?

It's in line with the overall declined volume on mtgox. Also, it is the highest volume since the December 18 flash crash, across *all* exchanges, including gox.

But what do you expect? Many people left gox already, those that are left are scratching their heads. The panic behavior you can see on gox, even at comparably low volume, translates into selling pressure on the other exchanges, at a higher volume.

Not all is lost, though. As I've said in my 'channel' thread, I see the fight for 680 (stamp price) isn't over yet, so I see a good change we'll settle here for now, or go up from here (not 'to da moon' up... just a bit :D)

[nanobrain]

Having followed this situation unfold over the last ten hours or so it seems that while there has been a conflagration of 'bad news' - none of it singularly or in combination would be enough to 'crash' the market like this.  There are too many contradictory elements:

for example, the Gox situation can be viewed as a catalyst but their volume has been low and the main selling has been on Stamp.

The Russian news is in effect nothing more than similar proclamations by central banks from other countries recently eg India, Iceland etc.  BTCe is based as a registered business in Cyprus, so either way, it shouldn't impact the exchange.

Apples move isn't anything new...they've been banning BTC apps for years for various reasons.

So, I wonder if these circumstances have been used to time some significant market manipulation.  At times like this I wonder where Loaded is.

[vphen]

Where is Willy, please come back, I need you~~~~

[podyx]

[medialab101]

Read This!!!

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

It may answer a few questions, or stoke more speculation... either way, interesting

[Rampion]

For the record: I'm buying.

Thank you Gox.

[medialab101]

so what do all the people do with the GOX $ now?

I'm guessing withdrawals to Yen are still working.

Not really. Withdrawals problems have spread to all currencies: EUR, JPY, etc.

One importante question arises: WHERE THE FUCK IS KARPELES?

On his yacht in the Med.

Nope, spotted recently in Tokyo at the office:

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

[acsalles]

HODLING

[UnDerDoG81]

Wow back @700... I would not wonder if we will be back at $800 tomorrow... If it is really so easy to manipulate the BTC price by whales, then BTC is not an alternative for FIAT.

[oda.krell]

Wow back @700... I would not wonder if we will be back at $800 tomorrow... If it is really so easy to manipulate the BTC price by whales, then BTC is not an alternative for FIAT.

If 'rather unsurprisingly wild price swings during an unprecedented, world wide, mostly unregulated capitalization event' automatically look to you like 'manipulation', I'd recommend leaving this market, or at least putting your coins into cold storage and not looking at the charts.

[empowering]

Yes we need to find reasons why its dropping. Fud blah blah. Anything other than this is the E wave.

: )

[podyx]