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

[jatajuta]

Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.

MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.

Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.

Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.

[fonzie]

Magical Tux      

http://blog.magicaltux.net/2009/01/06/seven-things-tagged-by-mark-karpeles/

I think this might explain most of the problems:



"I never finish anyth…
In fact, sometimes, I happen to finish something, but “finishing something” is just too boring. I always do a new version at some point, so nothing is really “finished”. Just tag it with a version number and continue it (already got this thinkgeek tshirt)."

"Not apple pies like the ones you’re used to eat. My apple pies are uniques. If you ever come to Paris, message me before so I can prepare one and let you take a bite. My apple pie follows a receipe I got from my mother, who got it from my grand-mother, etc… Even people who usually don’t like apple pies came to eat some and liked it."

[N12]

What's wrong with apple pie? I want some.

[T.Stuart]

Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.

MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.

Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.

Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.

Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready.

[CryptStorm]

Is Mark Karpeles the officially the most hated person in the bitcoin community now?

You seem to have a short memory coupled with the fact Mark has yet to have done anything to warrant hate. He pointed out a flaw that nearly every exchange had to fix in their software. Perhaps he put the blame where it was not warranted.... perhaps.

I see that things at Gox look odd but just imagine this:
- Mark doesn't have special trading accounts or no-fee bots, etc.
- Mark believes that malleability is a flaw in the protocol and stated his opinion
- the crazy market at Gox is simply that, not internally manipulated free market
- banks have been very strict with him after the US froze his Dwolla account causing all the reported fiat transfers. Stopping USD withdrawals is necessitated by the US not Mark.

People are losing money and looking for someone to blame. Instead they should be thanking Mark for offering them the ability to trade BTC for the last @4 years.

i agree, the hate here is just idiotic. i was tempted myself, it is so easy to follow the crowd and hate. there are even remarks about his safety.

on the other hand: some communication from mtgox would help

Just want to +1 the decency approach re: MK.

A couple of days ago I was about to sell my goxcoins on the cheap but while chat skyping with the anticipated purchaser, he let mention that he was on speaking terms with MK and the GoxTeam and that he felt that their legal team was suggesting they keep things rather 'mum's the word', which, like many of you must feel, runs counter to what we expect from a 'well run' company today, more transparency.

Now, whether the Gox lawyers are encouraging mostly silence may or may not be true, but, it certainly adds weight to KeyserSoze's reasonable approach regarding what may well be a series of human shortcomings and incidents instead of mal-anything (-feasance, -isiciousness, -ign, -evolence...).

That said, I wish I had fiat.

PS Who is MP that keeps getting mentioned?

[fonzie]

What's wrong with apple pie? I want some.

Nothing at all, i´m probably the biggest fan of Mark Karpeles right now. He doesn´t give a shit at all about all the hate. He just continues with his positive attitude and smiling. He´s adorable
I wish i could be as postive as he is.

 

He also delivers great entertaiment to this overall boring cult.

[humanitee]

Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.

MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.

Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.

Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.

Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready.

Stop making sense.

[pjviitas]

Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.

MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.

Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.

Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.

FUD

[CryptStorm]

Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.

MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.

Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.

Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.

Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready.

What derivatives market, where?

[humanitee]

Only 2011 kids shorters, scamsters, and inside traders will get this.

FTFY

[fonzie]

I think it´s more likely that some shady big holders like MP are manipulating the market on Gox right now.
But that´s just another conspiracy theory.

[Hawkix]

In my opinion, MtGox is lowering the BTC price (by panic etc) to force a lot of users to cancel their fiat withdrawals (to buy cheap coins) and thus clean up those enormous queues.

[T.Stuart]

Just want to +1 the decency approach re: MK.

A couple of days ago I was about to sell my goxcoins on the cheap but while chat skyping with the anticipated purchaser, he let mention that he was on speaking terms with MK and the GoxTeam and that he felt that their legal team was suggesting they keep things rather 'mum's the word', which, like many of you must feel, runs counter to what we expect from a 'well run' company today, more transparency.

Now, whether the Gox lawyers are encouraging mostly silence may or may not be true, but, it certainly adds weight to KeyserSoze's reasonable approach regarding what may well be a series of human shortcomings and incidents instead of mal-anything (-feasance, -isiciousness, -ign, -evolence...).

Well that advice has backfired badly. Bullshit to that. Bitstamp was clearer and faster on the malleability thing. Did the lawyers also suggest MK blame Bitcoin?

If they were not in trouble then why would they need to stay silent? And then the silence just amplifies everybody's worst fears. Sorry but "human shortcomings" is not an adequate excuse for what's going on communication-wise. My 7-year-old son knows how to say "sorry".

[KeyserSoze]

Who is MP that keeps getting mentioned?

Mircea Popescu (and arguable alter-ego user MPOE-PR).

[oda.krell]

Just want to +1 the decency approach re: MK.

A couple of days ago I was about to sell my goxcoins on the cheap but while chat skyping with the anticipated purchaser, he let mention that he was on speaking terms with MK and the GoxTeam and that he felt that their legal team was suggesting they keep things rather 'mum's the word', which, like many of you must feel, runs counter to what we expect from a 'well run' company today, more transparency.

Now, whether the Gox lawyers are encouraging mostly silence may or may not be true, but, it certainly adds weight to KeyserSoze's reasonable approach regarding what may well be a series of human shortcomings and incidents instead of mal-anything (-feasance, -isiciousness, -ign, -evolence...).

Well that advice has backfired badly. Bullshit to that. Bitstamp was clearer and faster on the malleability thing. Did the lawyers also suggest MK blame Bitcoin?

If they were not in trouble then why would they need to stay silent? And then the silence just amplifies everybody's worst fears. Sorry but "human shortcomings" is not an adequate excuse for what's going on communication-wise. My 7-year-old son knows how to say "sorry".

Full agreement.

How can people still unironically defend gox in this case?

How come they take so much longer to fix the withdrawal problem despite the fact that their volume is actually lower than that of stamp by now.

It really doesn't make sense.

I'm not sure if it's malintent or incompetence, but in either case, they're deservedly going down as a business.

[KeyserSoze]

Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready.

Stop making sense.

People complain when he freezes trading. People complain when he doesn't.
People complain when he stops deposits/withdrawals. People complain when he doesn't.

[fonzie]

600$ will be history. SOON  

[humanitee]

Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready.

Stop making sense.

People complain when he freezes trading. People complain when he doesn't.
People complain when he stops deposits/withdrawals. People complain when he doesn't.

When you cease being an exchange you should cease trading.

[600watt]

Is Mark Karpeles the officially the most hated person in the bitcoin community now?

You seem to have a short memory coupled with the fact Mark has yet to have done anything to warrant hate. He pointed out a flaw that nearly every exchange had to fix in their software. Perhaps he put the blame where it was not warranted.... perhaps.

I see that things at Gox look odd but just imagine this:
- Mark doesn't have special trading accounts or no-fee bots, etc.
- Mark believes that malleability is a flaw in the protocol and stated his opinion
- the crazy market at Gox is simply that, not internally manipulated free market
- banks have been very strict with him after the US froze his Dwolla account causing all the reported fiat transfers. Stopping USD withdrawals is necessitated by the US not Mark.

People are losing money and looking for someone to blame. Instead they should be thanking Mark for offering them the ability to trade BTC for the last @4 years.

i agree, the hate here is just idiotic. i was tempted myself, it is so easy to follow the crowd and hate. there are even remarks about his safety.

on the other hand: some communication from mtgox would help

Please don't confuse suggesting that he might do well to get a bodyguard with hate (if you are referring to my comment). Considering that people are beginning to fly to Tokyo from the other side of the world to confront him makes this seem like a good idea to me. The first visitors were kind of geeky; the next might be more unpleasant.

I do think it would help if he was more open about Gox's cash / Bitcoin reserves.

i was referring to posts where people actually threatened him, explained he deserved a bad fate, etc...   yeah i guess pitchfork crowd is a good word. i did not want to imply your comment belongs in that category.

when gox was hacked in the middle of the crash from 32 to 2 dollars in 2011 i thought the entire exchange was a scam. i had 100 btc there. bought almost on top of the bubble     my account got hacked, i couldn´t access it anymore. i threw anything away, passwords - e v e r y t h i n g & told no one about my experience fearing everybody would laugh. i felt really embarrassed.   20 months later some friend told me he will quit his job and be a bitcoin miner.    bit..coin... ?! this japanese scam ?  he said it was the leading bitcoin exchange, not a scam.   i wondered what had happened to my 100 btc, so i contacted customer support. they answered within 10 minutes and within half an hour i had full access to the 100 coins sitting there untouched during all of this.
i can say i was impressed.  

[flynn]

Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready.

Stop making sense.

People complain when he freezes trading. People complain when he doesn't.
People complain when he stops deposits/withdrawals. People complain when he doesn't.

He is the usual suspect.