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

[JorgeStolfi]

Anybody just see what happened on gox about 5 mins ago? For about 10 seconds there were about 1k coins to 100.  Then the book was rapidly rebuilt. Shenanigans.

Each chart site looking at one exchange will probe the exchange every few seconds, asking for their data.  While most data can be reported incrementally (just the changes since the previous request) , the API spec that I have seen requires that the entire order book be reported every time.

However, for some sites today that must mean many thousands, perhaps millions of entries.  So I suppose that large exchanges just report the first N entries on each side of the gap.

The wall plots, and the summary that tells how many BTC there are until certain round prices (the top rightmost two columns in bitcoinwisdom's charts, for example) are computed from that data, either by the chart server or by the javascript in your browser.

Once summarized, it may be that, say, the first 2000 order book entries that the exchange returned become only 2-3 lines in the summary. 

So you cannot assume that the order book ends where the summary shown by the chart site ends.

[gizmoh]

There must be many Gox sellers reading this forum. Can at least one of you explain to us why you are selling at these prices?

Below 400, bot Billy is the main seller (like over 80%) . Some are selling to catch his dump.

[creekbore]

Well, there seems to be rumours that Gox have started withdrawals without an announcement but have been flooded with requests.

See Tzupys post here

https://bitcointalk.org/index.php?topic=468837.new#new

Your correspondent tried it out for you and got

Transfer queue is currently not accepting more requests, please retry later

Discuss

[Krabby]

Maybe one day...

[seleme]

Hard to imagine Mark not arbing the gap between Gox and Stamp.

Guess withdrawals will be open when he makes enough coins arbing to cover losses.

[ShroomsKit]

The dumb sheep on Stamp are about to panic. If 266 falls Stamp will go down as well.

[seleme]

Not sure I would mind a flash crash

[JorgeStolfi]

I still do not think that the eventual collapse or full reopening of MtGOX on Monday can trigger a big jump in the price.

IMHO, what caused the mini-crash last Monday was not the news that MtGOX was in trouble, but the statement by Karpeles that the Bitcoin protocol itself was seriously broken.

Even if their upcoming release has another blooper like that one, the markets should be wiser this time.  (Will they be?)

[EuroTrash]

Well, there seems to be rumours that Gox have started withdrawals without an announcement but have been flooded with requests.

See Tzupys post here

https://bitcointalk.org/index.php?topic=468837.new#new

Your correspondent tried it out for you and got

Transfer queue is currently not accepting more requests, please retry later

Discuss

Great. So Stamp will be going down in the next days albeit slowly, because arbitrage.

[seleme]

I still do not think that the eventual collapse or full reopening of MtGOX on Monday can trigger a big jump in the price.

IMHO, what caused the mini-crash last Monday was not the news that MtGOX was in trouble, but the statement by Karpeles that the Bitcoin protocol itself was seriously broken.

Even if their upcoming release has another blooper like that one, the markets should be wiser this time.  (Will they be?)

There's barely a sanity in crypto market. Anything could happen.

[barbs]

The dumb sheep on Stamp are about to panic. If 266 falls Stamp will go down as well.

Shit's about to get real, fast, strap your harnesses on and get ready for the ride

[ChartBuddy]

Explanation

[Erdogan]

[...]
My picture of the typical Huobi client is a low or middle-class person, who does not understand English, has no programming knowledge, and keeps his bitcoins in his Huobi account.  He cannot use bitcoins to pay for things in China and does not usually travel outside the country.  Would he need to download the software and/or create a private wallet in order to open an account at Huobi?

Is this peer-revieewed science?

[creekbore]

OK. I just logged into Gox to try out the withdrawal rumour (and move my massive stash ) and I notice I received a login authorization email - that's never happened before.

This (perhaps) suggests that they have implemented some additional user features this week and that (perhaps) the news tomorrow will be positive.

[MikeH]

There must be many Gox sellers reading this forum. Can at least one of you explain to us why you are selling at these prices?

I've got a couple of btc there, if I felt it was heading for under $150 I'd sell too and buy back - I didn't imagine it would fall this low so have held and missed an opportunity (assuming Gox stays alive).

[ChrisML]

OK. I just logged into Gox to try out the withdrawal rumour (and move my massive stash ) and I notice I received a login authorization email - that's never happened before.

This (perhaps) suggests that they have implemented some additional user features this week and that (perhaps) the news tomorrow will be positive.

That indeed, is new. And positive.

[EuroTrash]

Your correspondent tried it out for you and got

Transfer queue is currently not accepting more requests, please retry later

Discuss

If it turns out that they just changed the message then this is the longest con ever...

[Davyd05]

OK. I just logged into Gox to try out the withdrawal rumour (and move my massive stash ) and I notice I received a login authorization email - that's never happened before.

This (perhaps) suggests that they have implemented some additional user features this week and that (perhaps) the news tomorrow will be positive.

Gox said they're would be an update on the 16th, they we're testing the withdrawal system internal first before going live, and there is now less than 3 hrs in the day left, Hopefully they work down to the wire.

[Yololintian]

There it is. sub 266 on gox

[xulescu]

There it is. sub 266 on gox

BTCe needs some Xanax as usually