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

[fonzie]

There is a total of 7000 BTC that will need to be bought at some point when Bitfinex users close their short positions.
The highest amount in the last 6 months.

http://charts-bfxdata.rhcloud.com/bitfinexLiquidityBTC.php

Well there are many thousands of hodler Bitcoins waitin wo be sold in panic. :-D

Lol, you obviously don't know what is happening when someone is closing short position.

Let me help you, he is not selling, he is buying then  

I meant that there will be enough asks available to provide a huge liquidity. Ultra short squeeze is unlikely to happen. Ask depth is solid on Stamp/Finex.

[N12]

I'm attacking those of you who make people believe MtGox could have likely lost a 6 digit BTC sum over the malleability issue (because that's what it would take to make them insolvent).

How do you get to a 6 digit sum?

They generally do not spend their accumulated BTC. I know only of two expenses, the bitomat exchange bailout and the bitcoin foundation donation.

Here is an example of their past earnings, and they have been in business since 2010:
 

But you do not need do more than just estimate broadly the revenue from fees and volumes. (Btw, the average fees have risen considerably because MtGox's fee table originating in Dec 2011 takes absurd amount of BTC in account, so with lower BTC trade average the trade fee goes up).

Of course, they could have faked their entire trading volumes, they could have lost all the Bitcoins otherwise, or some other made up stuff without evidence. Suit yourselves.

[fluidjax]

I'm attacking those of you who make people believe MtGox could have likely lost a 6 digit BTC sum over the malleability issue (because that's what it would take to make them insolvent).

How do you get to a 6 digit sum?

They generally do not spend their accumulated BTC. I know only of two expenses, the bitomat exchange bailout and the bitcoin foundation donation.

Here is an example of their past earnings, and they have been in business since 2010:

Any dividends?

[CryptStorm]

I'm not defending MtGox. They suck.

I'm attacking those of you who make people believe MtGox could have likely lost a 6 digit BTC sum over the malleability issue (because that's what it would take to make them insolvent).

People are not thinking clearly anymore, looking at the technical issue, their contingencies and progress so far, their income and their accumulated BTC reserves over the years. I could write it up, but I'm not sure anyone is interested at all. I never expected that MtGox would reenable transfers at remotely the same speed as Bitstamp, because MtGox's problem is worse since they have an accounting mess to clean up, and that is in addition to their general slowness.

But never mind, I think you guys are all more intelligent than gmaxwell, jgarzik and phantomcircuit with regards to evaluating MtGox's malleability issue. Better listen to r/bitcoin, buy at +30% premium and sell at -70%.

Agreed.

The jury is still out (IMO) to which extent their problems are due to incompetence though, or actual fraud.

Or maybe that's a dinstiction that is hard to make in our little wild west BTC economy...

Agreed, Blitz!

Agreed, Oda! And, that was very funny! LOL

[N12]

Companies issue dividends to shareholders which come out of profits.

As far as I know, Mark Karpeles is the sole owner of Tibanne Ltd. and Mtgox Ltd.

[fluidjax]

Companies issue dividends to shareholders which come out of profits.

As far as I know, Mark Karpeles is the sole owner of Tibanne Ltd. and Mtgox Ltd.

So, no dividends issued to Mark?

[fonzie]

Sub 200$ on Gox in 6 hours?

[pjviitas]

GOX needs to go away...they are not helping.

[N12]

Companies issue dividends to shareholders which come out of profits.

As far as I know, Mark Karpeles is the sole owner of Tibanne Ltd. and Mtgox Ltd.

So, no dividends issued to Mark?

No idea. Even if it was the case, you think he will spend it all on frappucinos and apple pie rather than make users whole?

[fluidjax]

Companies issue dividends to shareholders which come out of profits.

As far as I know, Mark Karpeles is the sole owner of Tibanne Ltd. and Mtgox Ltd.

So, no dividends issued to Mark?

No idea. Even if it was the case, you think he will spend it all on frappucinos and apple pie rather than make users whole?

If he has taken the money out as a dividend, lets hope he will do the right thing and bail out the company.
But there certainly doesn't look like there will be a legal requirement for him to do that.
I tried digging up the published accounts  of Tibanne Ltd. and Mtgox Ltd, but no luck so far.

[sumantso]

Any new news in the past 6-7 hours?

[T.Stuart]

Any new news in the past 6-7 hours?

No news. Strengthening frustration and even a little despair. A wide variety of emotional reaction.

[BTC5OOO]

I am not very angry on Gox to be honest. I have 11 BTC blocked there and I believe I'll get them at some time. Out of that I don't care about their price single iota as long as other exchanges are not following it.

you are joking right?...anyone holding ~$11,000+ of my money in limbo i'd be a little haired! =\ * who wants to send me ONE BTC to hold onto for awhile..LOL!!!!

I'm not joking, in some other times I'd probably be angry but right now it's not big deal. And I do believe I'll get those coins.

did you sign up for thesecretbitcoinproject? ...i speculate these cats think they can wipe out bitcoin and reboot with their new alt-crypto to issue in place of the bitcoins they sold at $1000ish ? ...just a wag ~ imo

[ChrisML]

Since 16:50 there has been hardly any movement with the BTC prices of MTGox.

Just hoping all are waiting till they release an announcement.

[podyx]

what do u guys think is most likely in gox price??

sub $100 or $10k?

I think $10k. bottom should be soon

that is if mtgox don't shutdown or die and eventually goes to $0

[Walsoraj]

Looks like the black hole created by Gox is starting to pull other exchanges down.

[ChartBuddy]

Explanation

[pera]

it's xmas in japan

[stompix]

what do u guys think is most likely in gox price??

sub $100 or $10k?

I think $10k. bottom should be soon

that is if mtgox don't shutdown or die and eventually goes to $0

With the amount of cash that is supposed to be trapped in there , I don't see it going down to 100 either.

[lemonte]

That petition has now had 400 signatures!  Looks like Mark's been removed from a few Christmas card lists!

https://www.change.org/en-GB/petitions/petition-to-remove-mark-karpeles-from-the-board-of-the-bitcoin-foundation