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

[TERA]

In the way I see, people holding money on gox was finally compensated with cheap coins, that's the benefits of goxing.

The bull market will resume gentlemen, and even stronger now.

Thanks. With a post like this I can take comfort in knowing that it has NOT bottomed and a bull market is NOT starting. People are still too optimistic for a bottom to have happened, and for all the wrong reasons.

[1714593676]

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[1714593676]

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[FNG]

Can someone also explain to me why they need to impose daily withdraw limits if they're not insolvent? Im not saying that they are but
I can understand they want to avoid a bank run crashing their wallet software or whatever but that would only happen if everyone started to make lots of withdraw requests. Why do you need a btc limit for withdraw requests?? Why would you not limit people to one withdraw request per day. The transaction size itself doesnt matter? Whats the difference between 100,000 .05 btc withdrawals and 100,000 50 btc withdrawals? The only thing that can be different if they cant cover 100,000 50btc withdrawals similtaniously. Am I missing something...

+1

Many are blind here, and still have hope of a back to normal situation. MK is giving them this hope.

There is no legit reason to limit bitcoin AMOUNT.  MK doesn't care about btc price on other exchanges!

Also, this announcement confirms to Billy & whales at gox, that they were right not being in btc, as withdrawals in btc will be severely limited in amount.Through legal avenues, fiat could be retrieved..

BTC in cold storage stored off premises.

security reasons may make it wise not to keep 100,000 bitcoin on hand

[ChrisML]

Double bottom forming on plus500.

[billyjoeallen]

If there is no new good news this weekend, we will possibly drift to a low that is loosely around 600 before heading back up.

Who need TA when ya got BJA?

[mellowyellow]

You need to admit... there was plenty of good news now, but they were ignored. Imagen that one big company announce they will start except btc. The price would skyrock.

Think we're beyond the point where some good news will get us out of this, pull back your charts to 1 day and you will see what is happening. we've had some excellent news this week, but a the end of the day the sparkle has gone from btc. Smart people are planning exit strategies rather than dreaming of yachts.

We've been goxxed.

I wish I could store a list of retarded posts over time.
@bitcointalk can we implement something like that on our profile page?

It would be so much fun to reflect in a year's time.

Lost much?

Don't know about you, but I'm up 24% in BTC.
I'm neither bear nor bull, but you're definitely retarded.

Anyone who uses that word is definitely too young to have any significant amount of btc. Why call names? It just shows your desperation and immaturity.

I am long term bull with bitcoin, but these exchange markets are not bitcoin, they are just speculators trying to make a quick easy buck. When btc is stable, there will be no more speculators driving the price up / down. Bitcoin doesn't need to be expensive to be successful.

[spooderman]

There are days where reading this thread is a complete waste of time. This is one of those days, because nothing has actually happened, but there's sooooo much noise.

See you all tomorrow

[ChartBuddy]

Explanation

[dreamspark]

Can someone also explain to me why they need to impose daily withdraw limits if they're not insolvent? Im not saying that they are but
I can understand they want to avoid a bank run crashing their wallet software or whatever but that would only happen if everyone started to make lots of withdraw requests. Why do you need a btc limit for withdraw requests?? Why would you not limit people to one withdraw request per day. The transaction size itself doesnt matter? Whats the difference between 100,000 .05 btc withdrawals and 100,000 50 btc withdrawals? The only thing that can be different if they cant cover 100,000 50btc withdrawals similtaniously. Am I missing something...

+1

Many are blind here, and still have hope of a back to normal situation. MK is giving them this hope.

There is no legit reason to limit bitcoin AMOUNT.  MK doesn't care about btc price on other exchanges!

Also, this announcement confirms to Billy & whales at gox, that they were right not being in btc, as withdrawals in btc will be severely limited in amount.Through legal avenues, fiat could be retrieved..

BTC in cold storage stored off premises.

security reasons may make it wise not to keep 100,000 bitcoin on hand

A fair explanation but lets be honest an exchange like mtgox should have the required secuirty measures in place to ensure any hot funds are properly protected. This isn't SR2 or Sheep coded by a dude in his moms basement, or at least it shouldn't be !

Plus how long does it take to import a private key from their cold storage ??  

[jatajuta]

In the way I see, people holding money on gox was finally compensated with cheap coins, that's the benefits of goxing.

The bull market will resume gentlemen, and even stronger now.

Thanks. With a post like this I can take comfort in knowing that it has NOT bottomed and a bull market is NOT starting. People are still too optimistic for a bottom to have happened, and for all the wrong reasons.

Kid, you are betting Gox is history, I am betting it isn't. Simple as that.

But don't be too stubborn, always have a course of action in case you are wrong.

Or you will be one of those who will be crying why they haven't saw the bottom when it was so obvious.

For me, if I am wrong I can always sell which I do if it hits my stop loss.

[UnDerDoG81]

Sooo $650 coins are cheap now? I´m waiting for days now to get cheap coins but missed it twice. Not sure if I should buy now before Gox starts allowing withdraws?

[TERA]

In the way I see, people holding money on gox was finally compensated with cheap coins, that's the benefits of goxing.

The bull market will resume gentlemen, and even stronger now.

Thanks. With a post like this I can take comfort in knowing that it has NOT bottomed and a bull market is NOT starting. People are still too optimistic for a bottom to have happened, and for all the wrong reasons.

Kid, you are betting Gox is history, I am betting it isn't. Simple as that.

But don't be too stubborn, always have a course of action in case you are wrong.

Or you will be one of those who will be crying why they haven't saw the bottom when it was so obvious.

For me, if I am wrong I can always sell which I do if it hits my stop loss.

No my bet is that gox news is irrelevant to whether a bottom has been found outside of gox, in either case. Gox is not Bitcoin anymore. My chart of Bitstamp doesn't show any "obvious bottom". There might be a small temporary rally (trap) due to gox panic before the next drop.

[ChrisML]

Tokyo, Japan, February 17th, 2014!
"
Dear MtGox Customers,!
"
We apologize for the inconvenience caused by the recent suspension of external
bitcoin transfers. Fortunately, as we announced on Saturday we have now
implemented a solution that should enable withdrawals and mitigate any issues
caused by transaction malleability (please see our previous statements for
details on this issue). "
"
Thanks to our friends at Blockchain.info, MtGox now has a workaround that will
use a unique identifier created by Blockchain to show whether transactions have
been modified or not. This will prevent any fraudulent use of the malleability
issue and protect the assets of our customers. "
"
Resuming Withdrawals!
"
With this new system in place, MtGox should be able to resume withdrawals
soon. At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions. "
"
In order to launch the new system, we are going through the following steps:"
"
-" Re-indexing the entire Blockchain (approx. 32 million entries)"
-" Fully deploying the new NTX ID"
-" Implementing a new bitcoin withdrawal queue that needs to be tested"
"
We will update everyone again by Thursday at the latest. "
"
Additionally, you may have noticed that we have added a new login system that
sends you an email when you successfully access your account. This is an
additional security layer, but as always we strongly encourage our customers to
use the 2-step authorization options available in our Security Center. "
"
Thank you again for your support, and we look forward to resume bitcoin
withdrawals as quickly as possible. "
"
Best regards,"
"
MtGox Team

I've noticed that it is really hard for some people on here to read and actually understand a letter, or statement.

See above, read it again. Over and over and over.

Than, get the fuck outside and smoke a cig. Once you have done that, make yourself some coffee and sit your ass back down behind your computer.

[gizmoh]

Can someone also explain to me why they need to impose daily withdraw limits if they're not insolvent? Im not saying that they are but
I can understand they want to avoid a bank run crashing their wallet software or whatever but that would only happen if everyone started to make lots of withdraw requests. Why do you need a btc limit for withdraw requests?? Why would you not limit people to one withdraw request per day. The transaction size itself doesnt matter? Whats the difference between 100,000 .05 btc withdrawals and 100,000 50 btc withdrawals? The only thing that can be different if they cant cover 100,000 50btc withdrawals similtaniously. Am I missing something...

+1

Many are blind here, and still have hope of a back to normal situation. MK is giving them this hope.

There is no legit reason to limit bitcoin AMOUNT.  MK doesn't care about btc price on other exchanges!

Also, this announcement confirms to Billy & whales at gox, that they were right not being in btc, as withdrawals in btc will be severely limited in amount.Through legal avenues, fiat could be retrieved..

BTC in cold storage stored off premises.

security reasons may make it wise not to keep 100,000 bitcoin on hand

A customer with trusted status can withdraw 10,000 btc per day. This is per GOX rules.
Now suddenly, its not possible due to overzealous security concerns?
When It looks fishy, smells fishy..

[tarmi]

Be prepared for 5 btc daily withdrawals from mtgox.

very bullish.

[San1ty]

You need to admit... there was plenty of good news now, but they were ignored. Imagen that one big company announce they will start except btc. The price would skyrock.

Think we're beyond the point where some good news will get us out of this, pull back your charts to 1 day and you will see what is happening. we've had some excellent news this week, but a the end of the day the sparkle has gone from btc. Smart people are planning exit strategies rather than dreaming of yachts.

We've been goxxed.

I wish I could store a list of retarded posts over time.
@bitcointalk can we implement something like that on our profile page?

It would be so much fun to reflect in a year's time.

Lost much?

Don't know about you, but I'm up 24% in BTC.
I'm neither bear nor bull, but you're definitely retarded.

Anyone who uses that word is definitely too young to have any significant amount of btc. Why call names? It just shows your desperation and immaturity.

I am long term bull with bitcoin, but these exchange markets are not bitcoin, they are just speculators trying to make a quick easy buck. When btc is stable, there will be no more speculators driving the price up / down. Bitcoin doesn't need to be expensive to be successful.

Not at all, I was bringing our conversation down to your level, because "lost much" also sounded like such an adult remark. Although my assumption on your intellectual capacity wasn't well founded it probably wasn't THAT far from the truth, while you making assumptions on my age really looks like a blind man throwing darts.

Also what response do you expect to get with:
"but a the end of the day the sparkle has gone from btc"

Right, because you've been around for how long?

[gngrbeb2000]

Can someone also explain to me why they need to impose daily withdraw limits if they're not insolvent? Im not saying that they are but
I can understand they want to avoid a bank run crashing their wallet software or whatever but that would only happen if everyone started to make lots of withdraw requests. Why do you need a btc limit for withdraw requests?? Why would you not limit people to one withdraw request per day. The transaction size itself doesnt matter? Whats the difference between 100,000 .05 btc withdrawals and 100,000 50 btc withdrawals? The only thing that can be different if they cant cover 100,000 50btc withdrawals similtaniously. Am I missing something...

+1

Many are blind here, and still have hope of a back to normal situation. MK is giving them this hope.

There is no legit reason to limit bitcoin AMOUNT.  MK doesn't care about btc price on other exchanges!

Also, this announcement confirms to Billy & whales at gox, that they were right not being in btc, as withdrawals in btc will be severely limited in amount.Through legal avenues, fiat could be retrieved..

BTC in cold storage stored off premises.

security reasons may make it wise not to keep 100,000 bitcoin on hand

A customer with trusted status can withdraw 10,000 btc per day. This is per GOX rules.
Now suddenly, its not possible due to overzealous security concerns?
When It looks fishy, smells fishy..

not to defend gox's retarded writing, but they are implementing new protocol and it might be good to be safe. they also haven't said what that would be. <<kinda bullshit

the real reason though is probably because they are hoping that the gox price will rise fast enough to cancel any arbitrage opportunity, and while people will still probably leave because goxsux, they at least wouldn't lose all their biz instantly.

 Also the gox price will once again rise above everybody else's.....some fish will decide to stay.

[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!

somebody say something about a bottom?

[gngrbeb2000]

dude. TA doesn't work on btc. get that shit outta here.

[kurious]

Actually - allowing limited withdrawals makes sense - they must fear a 'run' on BTC either crashing the exchange (with it's new software fix being untested, too) - or meaning they have so little liquidity that their business is finished.

Allowing 'some' withdrawals will mean people wish to hold BTC instead of Fiat, which will inflate the price on Gox, and at this point, some people might decide to stay.

If Gox is clever, it will still have a business left.   Don't get me wrong - I will be the first in the queue to get out, but it is a logical solution.

I did think this was their only logical way out (assuming they really do intend to stay in the game).

[fonzie]

The harder they pump , the harder they fall
Will the really push it to 690$ just to fail once again??