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

[Vycid]

In fact, if I could get an instant deposit on Gox, I would deposit all of my liquid assets tomorrow.

I just transferred money this morning and it showed up in my Gox account 15 minutes later (Japan Net Bank method). I would send more but I'm already balls deep... would be a big hit if they actually did run with our money (which I don't think is going to happen but...). If withdrawals haven't been restarted in a day or two and the price is down around $200 I may send more...

If withdrawals aren't restarted in two days , you could have a chance at some 50$ coins.

Wow, 15 minutes no shit?

Is there any way I could get in on that, have someone act as my agent? I'd be willing to use my Bitcoin holdings as payment or collateral or something.

PM if interested.

[N12]

This is exactly what I was talking about in my other thread "the irony of a decentralized currency with a development team" but they don't get it and insist that "open source" keeps everything in check. Well the fact is that open source is irrelevant to the structure of the people who are in control on a minute-to-minute basis. The hard fork being pushed in a matter of hours proves this. There isn't enough time for a big open source community review of the code and nobody has time to do a full audit of the code in an hour. There are people, in control.

Congrats my friend, seriously. I remember that thread. You grasp what the Bitcoin cultists do not.

However, a certain degree of centralization is useful as we have seen, and I don't think it is a fundamental concern except in the very, very long term. Still, it is good to be aware of it.

[jatajuta]

The only explanation that makes sense: the Gox sellers are accounts which were used to fraudulently withdraw BTC using malleability attacks, and they know those balances will be invalid once Gox gets its shit together. So may as well maximize the panic to potentially buy cheap coins on other exchanges.

Did I nail it or what?

Yeah bro, this is obviously the only possible explanation.   *sarcasm*

This would make it harder to recover the attacks since the coins would be spread out in the wild.

[smoothie]

This is exactly what I was talking about in my other thread "the irony of a decentralized currency with a development team" but they don't get it and insist that "open source" keeps everything in check. Well the fact is that open source is irrelevant to the structure of the people who are in control on a minute-to-minute basis. The hard fork being pushed in a matter of hours proves this. There isn't enough time for a big open source community review of the code and nobody has time to do a full audit of the code in an hour. There are people, in control.

Congrats my friend, seriously. I remember that thread. You grasp what the Bitcoin cultists do not.

However, a certain degree of centralization is useful as we have seen, and I don't think it is a fundamental concern except in the very, very long term. Still, it is good to be aware of it.

Indeed is a very good point.

Moving forward with updates should then be done with the utmost caution.

[ChartBuddy]

Explanation

[jatajuta]

Does it bother anyone else that MtGox used the wrong "effected" in their press release?

I missed that-- yes, bothered, and a bit sad.

Edit: Title reads: "Maintenance Announcement Effecting Bitcoin transfers![sic]"

Did you see that they corrected on the website news?

  They are watching us...

[jojo69]

This is exactly what I was talking about in my other thread "the irony of a decentralized currency with a development team" but they don't get it and insist that "open source" keeps everything in check. Well the fact is that open source is irrelevant to the structure of the people who are in control on a minute-to-minute basis. The hard fork being pushed in a matter of hours proves this. There isn't enough time for a big open source community review of the code and nobody has time to do a full audit of the code in an hour. There are people, in control.

I hear you

but my pool op is a pretty smart motherfucker, and I trust him to point my hash in the best interests of the currency

[medialab101]

Does it bother anyone else that MtGox used the wrong "effected" in their press release?

I missed that-- yes, bothered, and a bit sad.

Edit: Title reads: "Maintenance Announcement Effecting Bitcoin transfers![sic]"

Did you see that they corrected on the website news?

  They are watching us...

Holy shit... they are watching us 

[BitChick]

Does it bother anyone else that MtGox used the wrong "effected" in their press release?

I missed that-- yes, bothered, and a bit sad.

Edit: Title reads: "Maintenance Announcement Effecting Bitcoin transfers![sic]"

Did you see that they corrected on the website news?

  They are watching us...

Holy shit... they are watching us 

So, should we tell them that we are praying curses on them.

[billyjoeallen]

So I wish I new how to show this, but I drew a line from the Dec 19 low on stamp to the Feb 9 low and it perfectly intersected the Feb 13 low, and it shows an upward slope.

[jatajuta]

So I wish I new how to show this, but I drew a line from the Dec 19 low on stamp to the Feb 9 low and it perfectly intersected the Feb 13 low, and it shows an upward slope.

This?

[aminorex]

So I wish I new how to show this, but I drew a line from the Dec 19 low on stamp to the Feb 9 low and it perfectly intersected the Feb 13 low, and it shows an upward slope.

That's pretty much the exponential trend line, doubling every 100 days

[billyjoeallen]

So I wish I new how to show this, but I drew a line from the Dec 19 low on stamp to the Feb 9 low and it perfectly intersected the Feb 13 low, and it shows an upward slope.

This?

Thanks!

[stylin]

The only explanation that makes sense: the Gox sellers are accounts which were used to fraudulently withdraw BTC using malleability attacks, and they know those balances will be invalid once Gox gets its shit together. So may as well maximize the panic to potentially buy cheap coins on other exchanges.

Did I nail it or what?

Yeah bro, this is obviously the only possible explanation.  *sarcasm*

This would make it harder to recover the attacks since the coins would be spread out in the wild.

Well what they can do is just confiscate the fiat from the accounts and use it to buy up the missing bitcoins, in the end this works as it is zero-sum.

[meanig]

Does it bother anyone else that MtGox used the wrong "effected" in their press release?

I missed that-- yes, bothered, and a bit sad.

Edit: Title reads: "Maintenance Announcement Effecting Bitcoin transfers![sic]"

Did you see that they corrected on the website news?

  They are watching us...

Holy shit... they are watching us  

Hey watching eyes from gox, you forgot to correct the spelling in the pdf.

[sonofliberty]

Insanely epic rally to begin soon.

[niothor]

Does it bother anyone else that MtGox used the wrong "effected" in their press release?

I missed that-- yes, bothered, and a bit sad.

Edit: Title reads: "Maintenance Announcement Effecting Bitcoin transfers![sic]"

Did you see that they corrected on the website news?

  They are watching us...

Holy shit... they are watching us 

That means the guys working at the website are fully awake .. but still no news . And that ain't good.

[Arcas]

Insanely epic rally to begin soon. Cool

[JorgeStolfi]

If anyone still cares (after three grossly failed attempts in a row) here is the Chinese Slumber Method prediction for Monday feb/17 UTC:

The Slumber Points are the Huobi prices at 19:00 UTC of each day.  They are the yellow dots in the image below (ignore the rectangles and the balloons):


Unfortunately, there is still no clear trend yet for those Slumber Points.  For the lack of a better idea, I will use the straight line that best fits (in the least squares sense) the last three Slumber Points, namely 4004, 3961, and 3733 CNY on feb/14--16.  That line, extrapolated one more day, gives ~3628 CNY; which is ~593 USD using the usual currency conversion R = 6.12. Therefore:

Prediction valid for: Monday 2014-02-17 19:00--19:59 UTC (not before, not after):
Huobi: 3600 -- 3660 CNY (3630 plus or minus 30)
Bitstamp: 580 -- 600 USD (590 plus or minus 10)
MtGOX: 0 -- ∞ goxUSD (something plus or minus anything)

[aminorex]

Insanely epic rally to begin soon.

Yeah, right after the crash to 250.