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

[billyjoeallen]

That seems like good news. Patch today, testing tomorrow, possibly withdrawals reinstituted by Monday...

And all the time no break in trading... only change is that Bitcoin deposits are stalled for 6 hours... and who in their right mind would deposit Bitcoin now.

Should be good news, but it sets up expectations. If Gox fails to live up to those expectations (again), it's worse than if they had said nothing.

To answer your question, depositing bitcoin now would put you in a good position for when the withdrawals resume and the Gox discount once again becomes the Gox premium.

[MANofthePEOPLE]

Choo choo?

[ChartBuddy]

Explanation

[billyjoeallen]

An almost perfect example of a cup and handle formation on the bitstamp 3 minute chart! 

I'm either getting good at this or getting lucky!

[medialab101]

To answer your question, depositing bitcoin now would put you in a good position for when the withdrawals resume and the Gox discount once again becomes the Gox premium.

I agree with you buy most would say it's an insane risk because they may be insolvent and this whole debacle has just been a ruse to buy time.

[JorgeStolfi]

PS: allowing trading between clients, while withdrawals are suspended indefinitely, is problematic also.

Gox clients who have sold their bitcoin to other Gox clients, in the hope of perhaps being able to withdraw that little money at least, have lost nearly 50% of their investment.  It will be very difficult for them to recover that loss in the courts, even though it was almost forced upon them by the suspension of bitcoin withdrawals (without notice, and retroactively).

If MtGOX itself (or someone associated with them) has been buying those cheap bitcoins from their clients, well, ...

[NWOreptilian]

lets ride this bad boy to 800 shall we? 

[medialab101]

And the bot continues to dump coins... oblivious to the news 

[gizmoh]

If Gox enables btc withdrawals, arbitrage will lower price on Bitstamp. Prices has been hovering in the 300-400 for 2 days with big volume due to continuous billy sell. Thinking goxers would relinquish the opportunity of instant double up, is just a bull's delusion.

If Gox continue to delay or imposes New quota on btc withdrawal, market will assume Gox is nearly insolvent..Price plummets.

Either way, price on non-Gox exchanges are currently over-valued.

[merkin51]

If Gox enables btc withdrawals, arbitrage will lower price on Bitstamp. Prices has been hovering in the 300-400 for 2 days with big volume due to continuous billy sell. Thinking goxers would relinquish the opportunity of instant double up, is just a bull's delusion.

If Gox continue to delay or imposes New quota on btc withdrawal, market will assume Gox is nearly insolvent..Price plummets.

Either way, price on non-Gox exchanges are currently over-valued.

Agreed, I cant see anyway the price doesnt plummet when Gox comes a conclusion one way or another. After that, hopefully we can settle down and look to the stars again.

[medialab101]

If Gox enables btc withdrawals, arbitrage will lower price on Bitstamp.

I imagine the price will go up on Gox with the impending fix in place. By the time it is actually live there may only be a $100 difference.

[TERA]

I'm tired of this bullstamp. where is bearstamp.

[Davyd05]

I'm tired of this bullstamp. where is bearstamp.

are you kidding.. we've had full on panic bearstamp for long enough.

[billyjoeallen]

To answer your question, depositing bitcoin now would put you in a good position for when the withdrawals resume and the Gox discount once again becomes the Gox premium.

I agree with you buy most would say it's an insane risk because they may be insolvent and this whole debacle has just been a ruse to buy time.

Of course it's an insane risk, but that doesn't mean somebody won't try it. They might even succeed.




The Price at Bitstamp WILL NOT plummet if Gox resumes withdrawals. It might dip a little at most before the Gox price catches up and surpasses Stamp's.

Most people have no clue on how difficult it is to successfully arbitrage bitcoin. There is always some factor you haven't considered or are not even aware of that makes it unprofitable. Bitcoiners prolly have IQs on average roughly two standards of deviation above the mean. There's almost nothing you could come up with that somebody else hasn't already thought of.

[TERA]

I'm tired of this bullstamp. where is bearstamp.

are you kidding.. we've had full on panic bearstamp for long enough.

moar

[billyjoeallen]

I'm tired of this bullstamp. where is bearstamp.

Translation: "I sold at a profit. Now I need more coins."

[Richy_T]

Choo choo?

Choo tomorrow.

[Richy_T]

If Gox enables btc withdrawals, arbitrage will lower price on Bitstamp. Prices has been hovering in the 300-400 for 2 days with big volume due to continuous billy sell. Thinking goxers would relinquish the opportunity of instant double up, is just a bull's delusion.

If Gox continue to delay or imposes New quota on btc withdrawal, market will assume Gox is nearly insolvent..Price plummets.

Either way, price on non-Gox exchanges are currently over-valued.

The Gox premium will be back in a heartbeat. However, anyone without some real stones of steel will be buying at any price to get out of the Gox trap.

[Kramerc]

To answer your question, depositing bitcoin now would put you in a good position for when the withdrawals resume and the Gox discount once again becomes the Gox premium.

I agree with you buy most would say it's an insane risk because they may be insolvent and this whole debacle has just been a ruse to buy time.

Of course it's an insane risk, but that doesn't mean somebody won't try it. They might even succeed.

Would it not be smarter to just arbitrage, selling the coins on stamp, sending money over at Gox and buying coins cheaply, waiting the price to skyrocket there? Why would one risk his bitcoins, when it would actually be safer (in case of MtGox being insolvent) to just wire fiat money?

[F-bernanke]

The Gox premium will be back in a heartbeat. However, anyone without some real stones of steel will be buying at any price to get out of the Gox trap.

I'm calling 1000$ coins (+-$50)  on Gox IF gox enables btc withdrawals, maybe we should set up a poll?