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

[fonzie]

Ok, i´m turning bull now. That MtGox breakout convinced me that we are in a bull market right now.
My first step will be to transfer 50k $ to MtGox, to get some cheap coins while they last, after that i´m transferin
all my BTC to BTC-E and use it to go all in FTC , that 1700 BTC buy wall over there is proof enough that it will go to the moon.
End of the story will be that i´m even more rich in about 2 weeks, i´m lookin forward to it.
 

[pjviitas]

Saying that malleability is an issue is no different than saying that buggy code is an issue.  It's an issue if you let it become an issue.

There is a million ways to fuck something up no matter how many rules you put into place.  Besides, at what point do rules become something that are meant to be broken.

The simple fact is that GOX either mistakenly or purposely ran buggy code that allowed some people to get rich at the expense of some unlucky bag-holders.

Instead of talking about malleability issues people should be asking where the fuck is my money period.

A minor nit but transaction malleability was not a bug; it was a documented yet debatably undesirable feature of the Bitcoin design.  I can't really argue with the rest of it. 

Anyone that has written software knows that there can be a fine line between bugs and features.  It all comes down to whether you let it exist or not.

[jonoiv]

Looks like Stamp and others are gradually becoming less affected by movements on Gox. Interesting.

the more I look at the gox action..  the more i'm convinced,  all people are buying and selling is a database price.   someone inside at gox is selling coins that don't exist in attempt to move the other exchanges.  while gox try to replenish their coin balance...

just a thought! 

[HairyMaclairy]

If it results in the loss of hundreds of millions in market value I'm going with "bug".

[fonzie]

Will we break 300$ in the next hours? This is so funny to watch, i wish it was real market activity.

[smoothie]

Will we break 300$ in the next hours? This is so funny to watch, i wish it was real market activity.

What is more funny is whoever bought 3800 BTC up to $500+ and then price drops to $340 lol

[pjviitas]

If it results in the loss of hundreds of millions in market value I'm going with "bug".

How about a feature that was exploited in order to make someone rich?

[nrd525]

According to my calculations there is either a serious issue with the Bitcoinbuilder.com website OR MtGox dollars are actually worth more than regular dollars (which is a sharp contrast from the previous situation).

Bitcoinbuilder is valuing MtGox BTC at 0.8 BTC  -- or a ratio of 0.8.
The exchange rate is valuing MtGox BTC at 360/640 - 0.5625.

This means that MtGox US dollars are worth 0.8/ 0.5625 = 1.42 real dollars.

Now in practice it is slightly lower as there is a 2% fee on Bitcoinbuilder.  But otherwise, why is this happening?  Is my reasoning wrong?  It looks like a massive arbitrage opportunity.

[aminorex]

Looks like Stamp and others are gradually becoming less affected by movements on Gox. Interesting.

the more I look at the gox action..  the more i'm convinced,  all people are buying and selling is a database price.   someone inside at gox is selling coins that don't exist in attempt to move the other exchanges.  while gox try to replenish their coin balance...

just a thought! 

not a very clever thought, at that.  it would be very expensive to sell bitcoins at half off the market price.  instead, they would be buying coins, not too quickly, but continuously, at these levels, and selling them on other exchanges.  this would have the effect of pushing down the prices on other exchanges.  or if they were really clever, they'd just be buying them cheaply on gox, and freezing them until summer.

[fonzie]

Will we break 300$ in the next hours? This is so funny to watch, i wish it was real market activity.

What is more funny is whoever bought 3800 BTC up to $500+ and then price drops to $340 lol

about 10000 have been sold again  since the market buy. None of this is real.
Nobody would make any real trades like that. It´s a slapstick business simulation game.
Starring Mark Karpeles as Leslie Nielsen.

[aminorex]

why is this happening?  Is my reasoning wrong?  It looks like a massive arbitrage opportunity.

It is that.  Dollars on gox are definitely worth more than dollars anywhere else right now.  It's vastly more efficient to just deposit USD at gox, but that takes too long.  Monday's news will change the pricing picture.

[empowering]

Ok, i´m turning bull now. That MtGox breakout convinced me that we are in a bull market right now.
My first step will be to transfer 50k $ to MtGox, to get some cheap coins while they last, after that i´m transferin
all my BTC to BTC-E and use it to go all in FTC , that 1700 BTC buy wall over there is proof enough that it will go to the moon.
End of the story will be that i´m even more rich in about 2 weeks, i´m lookin forward to it.
 

does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute does not compute

This terminal will self destruct in 10, 9 , 8 .......


 

Fonzi trap?


 

[fonzie]

 

[fonzie]

why is this happening?  Is my reasoning wrong?  It looks like a massive arbitrage opportunity.

It is that.  Dollars on gox are definitely worth more than dollars anywhere else right now.

So no BTC withdrawls on Monday? :-(

[fonzie]

~7000 BTC left before we go to single digits



I know , i know all data is fake and bitconity states other data,but maybe it is double fake, triple fake?
Reverse psychology trap?

 
 

Gox, i´m lovin it!

[BTC5OOO]

Mt. Gox monkeys at the helm : : kain't do maths very good $333 lmfao!!!! =)

[creekbore]

So no BTC withdrawls on Monday? :-(

But you can make deposits already... ...so that's all right then.

[TERA]

wow gox ho lee fuk sum ting wong wii tu lo

[fonzie]

Well if we continue in this rate we´ll see 10$ BTC/USD in about 2 hours.
I´m really sorry for everyone who is(maybe) about to lose money on Gox beside those tards that traded in bitcoinbuilder to buy Goxcoins with real BTC.
No mercy for them. They deserve to get burned.

[HairyMaclairy]

wow gox ho lee fuk sum ting wong wii tu lo

I'll pay attention when the Gox price starts with a '2'.  

And even then,not much.