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

[adamstgBit]

I really don't understand what people are doing at Gox, you sell your bitcoins that you cant withdraw for FIAT that you cant withdraw as well... the whole Gox situation doesn't make any sense to me, there is something happening behind the scene for sure.

People are having large amounts of coins returned to their accounts - the coins that were stuck in withdrawal. They have ceased all btc withdrawals but it is still possible to withdraw fiat - what would you do?

but you can't withdraw fiat

at least thats what i keep hearing....

[ChartBuddy]

Explanation

[giletto]

If "the oldest and once largest" Bitcoin exchange were to fold, hundreds if not thousands of people would probably lose tens of millions of dollars.

Learn to math.
1K x 10M = 10B = more than the value of all bitcoin.
Is your claim that gox has all the coins?

Not EACH of the thousands people lose 10M dollars, all together will. Classical selfown...

[JorgeStolfi]

If "the oldest and once largest" Bitcoin exchange were to fold, hundreds if not thousands of people would probably lose tens of millions of dollars.

Learn to math.
1K x 10M = 10B = more than the value of all bitcoin.

Tens of millions of dollars in total.

According to this article,

http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

the failed/stuck coin withdrawals alone, at that time, amounted to about 38 million US$; and the author claims to have "a six-figure amount" locked up there. 

Does anyone have an estimate for the total current balance of all Mt.GOX accounts, in USD and in coins? 

[seriouscoin]

I really don't understand what people are doing at Gox, you sell your bitcoins that you cant withdraw for FIAT that you cant withdraw as well... the whole Gox situation doesn't make any sense to me, there is something happening behind the scene for sure.

and not only gox, you've got the Second market CEO announcing a buy/sell offers for a min of 25BTC, is it a last cry to save the price from tanking which can result in a huge loss for their earlier purchased bitcoins ? or is it a try to Buy even more bitcoins at these prices without going through exchanges to not bring the price back up, both are valid scenarios to consider at the moment but which one is closer to what is really happening.




but in general there is allot of things happening around Bitcoin the last month or so, it is like the last ground cleaning before something! I recall the senate a month ago talking to bloomberg about announcing/issuing (to be more accurate) a statement about bitcoin in the next couple of month (maybe this month), so I am really curious about what will it be and if all the action of arresting and FINCEN issuing more documents about bitcoin and the New York hearing and the invitation from Council on Foreign Relations to Gavin Andresen and many other things that I maybe forgot to mention, are just to complete or to prepare for a big thing that will be in the next few months...   

allot of things happening and I have no Idea of what to assume...

Secondmarket does not buy/sell bitcoins, they just let ppl trade among themselves.

Its a first step to become a real exchange. I cant wait for a real exchange to be developed now. BTC-E is just as bad as mtGox btw. Check serviceDiscussion forums and you will see. We dont have a legit exchange right now.

[kwest]

The SecondMarket trust is set to become liquid no later than March 2014 as well.

[mellowyellow]

I really don't understand what people are doing at Gox, you sell your bitcoins that you cant withdraw for FIAT that you cant withdraw as well... the whole Gox situation doesn't make any sense to me, there is something happening behind the scene for sure.

People are having large amounts of coins returned to their accounts - the coins that were stuck in withdrawal. They have ceased all btc withdrawals but it is still possible to withdraw fiat - what would you do?

but you can't withdraw fiat

at least thats what i keep hearing....

From what I hear its only eur and usd withdrawals that are delayed (note delayed, not ceased), the Japanese have been able to withdraw with no problem the whole time.

Also if Gox do go under it's far better to be making a claim through the courts for fiat than it is with bitcoin, which could be near impossible depending on the legality in your country.

Anyway, I'm no expert, was just trying to explain why it could cause the dumps.

[mellowyellow]

We dont have a legit exchange right now.

Bitstamp is doing fine.

[manfred]

I really don't understand what people are doing at Gox, you sell your bitcoins that you cant withdraw for FIAT that you cant withdraw as well... the whole Gox situation doesn't make any sense to me, there is something happening behind the scene for sure.

and not only gox, you've got the Second market CEO announcing a buy/sell offers for a min of 25BTC, is it a last cry to save the price from tanking which can result in a huge loss for their earlier purchased bitcoins ? or is it a try to Buy even more bitcoins at these prices without going through exchanges to not bring the price back up, both are valid scenarios to consider at the moment but which one is closer to what is really happening.




but in general there is allot of things happening around Bitcoin the last month or so, it is like the last ground cleaning before something! I recall the senate a month ago talking to bloomberg about announcing/issuing (to be more accurate) a statement about bitcoin in the next couple of month (maybe this month), so I am really curious about what will it be and if all the action of arresting and FINCEN issuing more documents about bitcoin and the New York hearing and the invitation from Council on Foreign Relations to Gavin Andresen and many other things that I maybe forgot to mention, are just to complete or to prepare for a big thing that will be in the next few months...   

allot of things happening and I have no Idea of what to assume...

Secondmarket does not buy/sell bitcoins, they just let ppl trade among themselves.

Its a first step to become a real exchange. I cant wait for a real exchange to be developed now. BTC-E is just as bad as mtGox btw. Check serviceDiscussion forums and you will see. We dont have a legit exchange right now.

Well there are lots Bitstamp and Kraken to start with

[seriouscoin]

I really don't understand what people are doing at Gox, you sell your bitcoins that you cant withdraw for FIAT that you cant withdraw as well... the whole Gox situation doesn't make any sense to me, there is something happening behind the scene for sure.

People are having large amounts of coins returned to their accounts - the coins that were stuck in withdrawal. They have ceased all btc withdrawals but it is still possible to withdraw fiat - what would you do?

but you can't withdraw fiat

at least thats what i keep hearing....

From what I hear its only eur and usd withdrawals that are delayed (note delayed, not ceased), the Japanese have been able to withdraw with no problem the whole time.

Also if Gox do go under it's far better to be making a claim through the courts for fiat than it is with bitcoin, which could be near impossible depending on the legality in your country.

Anyway, I'm no expert, was just trying to explain why it could cause the dumps.

BS, go do more research again.

[mellowyellow]

BS, go do more research again.

Same to you. I'm not really bothered, I have nothing in Gox, forgot how emotional everyone is around here. No facts just FUD and who can shout loudest.

[mah87]

BS, go do more research again.

Same to you. I'm not really bothered, I have nothing in Gox, forgot how emotional everyone is around here. No facts just FUD and who can shout loudest.

DON'T YOU GET IT ?? IT'S CRASHING !! BITCOIN IS THE FIRST VIRTUAL CURRENCY AND WILL FAIL !!

DO YOU HEAR ME

FAIL !!

[BitChick]

In times like these let us visit this page and take a deep breath and  remember why we need to hodl.   

http://bildr.no/view/ZFowYlNi

[arklan]

Am I seeing this right? Gox lower than stamp?

[fonzie]

Am I seeing this right? Gox lower than stamp?

U know what´s about to happen next!

[arklan]

Am I seeing this right? Gox lower than stamp?

U know what´s about to happen next!

I can honestly say I do not. Not the slightest idea.

[fonzie]

Same thing that happened yesterday! CRASH CRASH CRASH 

[empowering]

BS, go do more research again.

Same to you. I'm not really bothered, I have nothing in Gox, forgot how emotional everyone is around here. No facts just FUD and who can shout loudest.

DON'T YOU GET IT ?? IT'S CRASHING !! BITCOIN. IS THE FIRST VIRTUAL CURRENCY AND WILL FAIL !!

DO YOU HEAR ME

FAIL !!  MOON

really it is going to fail.... will tcp/ip and http fail at the same time? this could be worrying... I need to get prepared....

[sublime5447]

BS, go do more research again.

Same to you. I'm not really bothered, I have nothing in Gox, forgot how emotional everyone is around here. No facts just FUD and who can shout loudest.

DON'T YOU GET IT ?? IT'S CRASHING !! BITCOIN IS THE FIRST VIRTUAL CURRENCY AND WILL FAIL !!

DO YOU HEAR ME

FAIL !!

Are you being serious? 

[Mythul]

New FUD on the line: FBI got the Gox BTC while investigating their connection to the Silk Road.