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

[JorgeStolfi]

The USA is not the center of the world, sorry to tell you.

世界中国的中心 !

[aminorex]

Getting the transaction records and network logs from bitfinex would probably suffice to identify the conspirators.  Thorough examination of the data available on the malleability attack would be good.

Identifying these people would solve the problem.  They are cowards, of course, with no principles but greed.

Attempting to squeeze them prematurely will be futile, and merely funnel funds into their hands, unless you can marshall enough btc to surely squeeze all other players.

This is warfare for the future of mankind, I should point out.  A community that will not defend itself will inevitably be destroyed.

[KFR]

The individuals are not the real problem; the ability for the individuals to have an effect is the problem.  A decentralised exchange is the way forward.

[empowering]

The individuals are not the real problem; the ability for the individuals to have an effect is the problem.  A decentralised exchange is the way forward.

That is coming Nxt

 

[JorgeStolfi]

bitfinex new largest exchange?

It varies day to day.

Yesterday: Huobi ~134 kBTC,  Bitstamp ~72, OKCoin ~71, MtGOX ~50, BTC-e ~47, Bitfinex ~42, BTC-China ~18.
 
Bitfinex was the largest outside China on Friday Feb/07 (~67 kBTC).

[Vigil]

It is interesting to consider what measures could remove the ability to conduct a systematic attack on the value of bitcoin.  The elimination of centralized exchanges seems the most obvious.  That, however, will take time.

Another would be to identify the persons who conducted the DDOS, and who coordinated the attack on the exchanges.  If an exchange operator were interested in preserving the value of bitcoin, they would open their records to public inspection.  Transparency is, after all, part of the essence of bitcoin.  This would make it possible to identify the actors.

A defector who considers the purposes of bitcoin and the hope it offers mankind to be more important than personal greed might disclose the communication channels used to coordinate operations.

How exactly does one get fiat from a decentralized exchange to dollars? Is this where master coin or ripple come in? We use them as placeholders for dollars, Euros, etc.? That would mean that there would need to be a place that accepted them in place of dollars and transfer to your account. And would this be antithetical to decentralization as it would require a third party to convert the crypto dollars to real dollars?

[solex]

The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.

Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).

According to Navidan, almost 5% of eToro’s active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.

http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/

[aminorex]

They'll destroy themselves trying anyway, obvious superiority is obvious so it doesn't really matter what the price does in the short term, all bitcoin has to do is stick around while everything else breaks around it. This has got political, welcome to the Afghanistan of currencies.

No, they are doing this to gain more BTC.  They will control the future.  Your children will be their slaves. 

[TERA]

The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.

Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).

According to Navidan, almost 5% of eToro’s active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.

http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/

Are you saying that the eToro platform integrates bitstamp and btce?

[Dragonkiller]

They'll destroy themselves trying anyway, obvious superiority is obvious so it doesn't really matter what the price does in the short term, all bitcoin has to do is stick around while everything else breaks around it. This has got political, welcome to the Afghanistan of currencies.

No, they are doing this to gain more BTC.  They will control the future.  Your children will be their slaves. 

that made me lol

[fonzie]

Seems a bit risky to me right now to buy into these (small) 500 walls @Bitfinex, when there are  20000BTC more watin.
After one of these 200-400 gets bought, another one gets added immediately.
Someone is dumpin real hard today.

Edit:

In the end the ask side is always much stronger on every BTC exchange.

[Walsoraj]

http://arstechnica.com/security/2014/02/biggest-ddos-ever-aimed-at-cloudflares-content-delivery-network/

I wonder if this is related?

[solex]

The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.

Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).

According to Navidan, almost 5% of eToro’s active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.

http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/

Are you saying that the eToro platform integrates bitstamp and btce?

Yes, but only for eToro itself to balance its net position as the bitcoin traders there see it as a stock, i.e. a CFD instrument.

[Ivanhoe]

Kraken trying to profit from the exchange FUD.  

https://twitter.com/krakenfx/status/433315136057524224

Yes because there was already a fix ready for this 'problem'. Other exchanges waited with implementing it till now. Kraken probably did it right away.

[fotosonics]

Pardon me.

Ahem.

Could anyone contribute something insightful to this?

http://finance.yahoo.com/news/lots-major-bitcoin-exchanges-under-181949995.html

I am unable to find anything in previous comments.

This story appeared 3 hours ago.

Yes, there is a full-blown war going on right now.

As to who's behind it, Russia? NSA? The Fed? Anyone who feels threatened by Bitcoin?

[NamelessOne]

You really think MtGox's statement was actually correct and not a way to cover up their own incompetence? Or is this just your own automatic anti-dogmatic knee jerk reaction at work?

I do know that today, btc-e and bitstamp have halted withdrawals. Evidence enough for me. Plus, before that, gmaxwell, a core developer, delivered an explanation of the matter that I have posted here before: http://www.reddit.com/r/Bitcoin/comments/1x93tf/some_irc_chatter_about_what_is_going_on_at_mtgox/cf99yac

Of course MtGox were largely incompetent no matter how you look at it, from multiple standpoints, but that doesn't mean they were lying on the underlying issue.

Holliday, I think there is a severe lack of synergy in the Bitcoin world. I would have thought the Bitcoin Foundation would address this, but I stand corrected.

Yes, +1 to this, just as you agreed with me on IRC, MtGox has big issues, but in this case they warned the community and got a huge beat down. They deserve credit in this instance.

[stompix]

They'll destroy themselves trying anyway, obvious superiority is obvious so it doesn't really matter what the price does in the short term, all bitcoin has to do is stick around while everything else breaks around it. This has got political, welcome to the Afghanistan of currencies.

No, they are doing this to gain more BTC.  They will control the future.  Your children will be their slaves. 

What about my children teddybears ? Will they also work in a slave honey factory?

[stompix]

Pardon me.

Ahem.

Could anyone contribute something insightful to this?

http://finance.yahoo.com/news/lots-major-bitcoin-exchanges-under-181949995.html

I am unable to find anything in previous comments.

This story appeared 3 hours ago.

Yes, there is a full-blown war going on right now.

As to who's behind it, Russia? NSA? The Fed? Anyone who feels threatened by Bitcoin?

And here comes the conspiracy theory. The whole world is battling over bitcoin. I would advise every miner to seek refuge in a nuclear shelter as they are already the new targets for intercontinental missiles.

[fonzie]

OK, i´m about to dump a few thousand more. I´m glad i transferred everything before the bug. 

[Yololintian]

Hey i just woke up and theres 20 new pages in this thread, can someone update me on the news/ is there a news-related reason why the exchanges are dropping or was yesterday just a bull-trap