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

[koryu]

i decided to hold for now, gonna close the charts for some hours and hope that we dont get goxed once again.

gl with your trades

[electronistul]

I would only predict red on the Stamp / BTCe charts - Once BTC withdrawals are re-enabled on Gox, price rockets up over there (and of course, inexplicably, also on the other exchanges which will blindly follow); then we have about half an hour (3-4 confirmations) until Goxed people start dumping the coins all over the other exchanges.
LE - I'm all fiat at the moment. Wouldn't want to be caught in the middle of the dump, just because the price "might" rise ... how much do you think it could rise short term, anyway 

[spooderman]

This week has demonstrated how one man, who owns a badly run exchange but has a good PR team, can do massive damage to BTC.

Massive damage? I know this is spec forum, but the price remains one of the least important things. It is undeniable, bitcoin is the future.

[windjc]

I would only predict red on the Stamp / BTCe charts - Once BTC withdrawals are re-enabled on Gox, price rockets up over there (and of course, inexplicably, also on the other exchanges which will blindly follow); then we have about half an hour (3-4 confirmations) until Goxed people start dumping the coins all over the other exchanges.
LE - I'm all fiat at the moment. Wouldn't want to be caught in the middle of the dump, just because the price "might" rise ... how much do you think it could rise short term, anyway 

Look, people are not going to dump on Stamp. Why? Let's discuss.

A. Some people are going to stay loyal to Gox. Yes, believe it or not, some people will continue to trade there.
B. Many Gox users do not have accounts at Stamp. Some of them don't have accounts because they didn't want to have to give up personal information. Others, for other reasons, too many to list here. So people will have to be verified before they can get money out of Stamp.
C. Some people will just put their coins back into cold storage. Lesson learned. Don't trade.
D. Some people will put coins into Stamp and Btc-e to trade them.

I believe Gox had the highest % (relative to the other exchanges) of old coins and users. These are loyalists - either to the bitcoin technology or to bitcoin trading (on Gox for the best volatility) and, thus, less likely to cash out and go 100% fiat back to their "normal" pre-bitcoin lives.

[Yololintian]

I would only predict red on the Stamp / BTCe charts - Once BTC withdrawals are re-enabled on Gox, price rockets up over there (and of course, inexplicably, also on the other exchanges which will blindly follow); then we have about half an hour (3-4 confirmations) until Goxed people start dumping the coins all over the other exchanges.
LE - I'm all fiat at the moment. Wouldn't want to be caught in the middle of the dump, just because the price "might" rise ... how much do you think it could rise short term, anyway 

Look, people are not going to dump on Stamp. Why? Let's discuss.

A. Some people are going to stay loyal to Gox. Yes, believe it or not, some people will continue to trade there.
B. Many Gox users do not have accounts at Stamp. Some of them don't have accounts because they didn't want to have to give up personal information. Others, for other reasons, too many to list here. So people will have to be verified before they can get money out of Stamp.
C. Some people will just put their coins back into cold storage. Lesson learned. Don't trade.
D. Some people will put coins into Stamp and Btc-e to trade them.

I believe Gox had the highest % (relative to the other exchanges) of old coins and users. These are loyalists - either to the bitcoin technology or to bitcoin trading (on Gox for the best volatility) and, thus, less likely to cash out and go 100% fiat back to their "normal" pre-bitcoin lives.

People bought thousands of $200 coins and you don't think they are gonna turn around and immediately sell them for at least 250% profit? Maybe a few won't but I sure as hell would. And I think it will put us into a medium term bear market.

[porcupine87]

Gox back to 360? Hm so if some people buy back, is this an indicator, that Gox will get alive again soon?

[creekbore]

This week has demonstrated how one man, who owns a badly run exchange but has a good PR team, can do massive damage to BTC.

Massive damage? I know this is spec forum, but the price remains one of the least important things. It is undeniable, bitcoin is the future.

My point, if you read back 6 or 8 pages (which I wouldn't inflict on you), is that BTC has lousy PR, while Gox is pretty canny at spinning news in their favour.  The story should've been Gox's incompetency but instead it became a flaw with BTC.  

BTC may be the future but the infrastructure needs improving, fixing etc.  And the lessons from this week are the Bitcoin Foundation needs to improve its marketing and PR and deal with criticism head on, swiftly and aggressively.

[F-bernanke]

This week has demonstrated how one man, who owns a badly run exchange but has a good PR team, can do massive damage to BTC.

Massive damage? I know this is spec forum, but the price remains one of the least important things. It is undeniable, bitcoin is the future.

My point, if you read back 6 or 8 pages (which I wouldn't inflict on you), is that BTC has lousy PR, while Gox is pretty canny at spinning news in their favour.  The story should've been Gox's incompetency but instead it became a flaw with BTC.  

BTC may be the future but the infrastructure needs improving, fixing etc.  And the lessons from this week are the Bitcoin Foundation needs to improve its marketing and PR and deal with criticism head on, swiftly and aggressively.

I agree.

Gox has to be responsible, news picks up a story like that, makes up a few headlines "btc flawed". And we've lost a % potential investors just like that.

[granathus]

This week has demonstrated how one man, who owns a badly run exchange but has a good PR team, can do massive damage to BTC.

Massive damage? I know this is spec forum, but the price remains one of the least important things. It is undeniable, bitcoin is the future.

My point, if you read back 6 or 8 pages (which I wouldn't inflict on you), is that BTC has lousy PR, while Gox is pretty canny at spinning news in their favour.  The story should've been Gox's incompetency but instead it became a flaw with BTC.  

BTC may be the future but the infrastructure needs improving, fixing etc.  And the lessons from this week are the Bitcoin Foundation needs to improve its marketing and PR and deal with criticism head on, swiftly and aggressively.

So you are saying that a good PR team means almost non existant communication, and then hurting the very market they are in with lies, which in turn destroy the company's last shred of credibility? Wow.

[Mythul]

Popcorn ready. Let the show begin. This is going to be an interesting day for sure.

[electronistul]

I would only predict red on the Stamp / BTCe charts - Once BTC withdrawals are re-enabled on Gox, price rockets up over there (and of course, inexplicably, also on the other exchanges which will blindly follow); then we have about half an hour (3-4 confirmations) until Goxed people start dumping the coins all over the other exchanges.
LE - I'm all fiat at the moment. Wouldn't want to be caught in the middle of the dump, just because the price "might" rise ... how much do you think it could rise short term, anyway 

Look, people are not going to dump on Stamp. Why? Let's discuss.

A. Some people are going to stay loyal to Gox. Yes, believe it or not, some people will continue to trade there.
B. Many Gox users do not have accounts at Stamp. Some of them don't have accounts because they didn't want to have to give up personal information. Others, for other reasons, too many to list here. So people will have to be verified before they can get money out of Stamp.
C. Some people will just put their coins back into cold storage. Lesson learned. Don't trade.
D. Some people will put coins into Stamp and Btc-e to trade them.

I believe Gox had the highest % (relative to the other exchanges) of old coins and users. These are loyalists - either to the bitcoin technology or to bitcoin trading (on Gox for the best volatility) and, thus, less likely to cash out and go 100% fiat back to their "normal" pre-bitcoin lives.

People bought thousands of $200 coins and you don't think they are gonna turn around and immediately sell them for at least 250% profit? Maybe a few won't but I sure as hell would. And I think it will put us into a medium term bear market.

I would too, if I had some fiat on Gox some days ago, I would surely buy all them $250-$350 coins I could. OF COURSE Gox will resume withdrawals, it's not a matter of "if", it's a matter of "when" and "what" happens on all the exchanges after 1) it is announced; 2) it is effective, and people can actually withdraw BTC.

May I remind all of you of those ~1k ... ~3k dumps and panic buys that were happening just some days ago ?! It's amazing how short term is the crowd's memory - people only see trains, moons, rockets and nice asses (double ones, too).  

[Kramerc]

What is happening to Gox order book? <500 coins to 240 

[F-bernanke]

What is happening to Gox order book? <500 coins to 240 

Thats a wisdom glitch, theres 4k coins to 240.

[TERA]

What is happening to Gox order book? <500 coins to 240 

My graph shows 3818BTC to 240,  but they're mostly near 240.

[creekbore]

This week has demonstrated how one man, who owns a badly run exchange but has a good PR team, can do massive damage to BTC.

Massive damage? I know this is spec forum, but the price remains one of the least important things. It is undeniable, bitcoin is the future.

My point, if you read back 6 or 8 pages (which I wouldn't inflict on you), is that BTC has lousy PR, while Gox is pretty canny at spinning news in their favour.  The story should've been Gox's incompetency but instead it became a flaw with BTC.  

BTC may be the future but the infrastructure needs improving, fixing etc.  And the lessons from this week are the Bitcoin Foundation needs to improve its marketing and PR and deal with criticism head on, swiftly and aggressively.

I agree.

Gox has to be responsible, news picks up a story like that, makes up a few headlines "btc flawed". And we've lost a % potential investors just like that.

Exactly, this will set adoption back and make grassroots conversations more difficult ("Oh, I saw that story in the paper that said BTC was flawed")...it's weird how a lot of people here don't understand this....that perceptions gain momentum.

And this was just one incompetent guy who understands how the press works.  

[ChartBuddy]

Explanation

[TERA]

What happened to "any press is good press for bitcoin"?

[adam9317]

This is going to be a very, very interesting day!

[OldGeek]

This week has demonstrated how one man, who owns a badly run exchange but has a good PR team, can do massive damage to BTC.

Massive damage? I know this is spec forum, but the price remains one of the least important things. It is undeniable, bitcoin is the future.

What we have here is a massive disconnect.  Many participants insist on conflating the price of the miner’s reward, which is what we are trading, with the worth of the blockchain/protocol.  This is not Bitcoin, Inc.  There are no shares of the blockchain for sale.  The asset, protocol, cannot be bought.

Good luck trying to overcome the biases that are evident in a great many posts on this forum in general, and this sub-forum in particular.

[600watt]

This is going to be a very, very interesting day!

in tokyo, the day is over. what happened ? nothing ?

so another day of fud here in the forums...