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

[600watt]

dear fellow bitcoin addicts,


despite all the bad news, the hysteria, prices of $ 100 and 200 on major exchanges, flaws in the protocol, massive attacks, headlines announcing bitcoins death --- more than enough reasons to rationally decide to get out of this madness (most of you with still incredible profits ) ---

despite the fact all the "bitcoin will go down sub 300" bears were actually fucking right (hard to admit. i actually don´t know what is hurting more: the fact my coins are worth less now or that those guys were actually right  )

despite bitcoin being "an experiment", in its infancy, despite of new records of votality,m

despite of all the FUD in the press and in the forums,

despite all of this and more: YOU ARE STILL INVESTED, you are still here, you still give a shit, - in other words: you are a true believer. if the community hodls the coins with balls of steel like we are witnessing right now, if you and me keep smiling, expressing great levels of absolute trust every new second in the midst of this chaos, i say bitcoin is unsinkable. we all depend on money. it´s not a funny game or so. to some it is very serious decision about wealth, future wealth and faith in this new technology that may free us from banks one day.

the fact that current price is above 600 shows a level of trust and support that even the biggest critics must admit was unexpected.

i will end this little message with a firm

CCmy fellowMF

[kurious]

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.
[/quote]

Sorry - you beat me to it, but agree this strategy is the only option that makes sense - so (assuming they do open soon) it is their only option, which is reassuring in some ways.

[dreamspark]

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).

If you look above I made a point about a bank run crashing the sofware. How does limiting withdrawal amounts cause the software not to crash? Surely you should be limiting withdrawal requests.

[medialab101]

dear fellow bitcoin addicts,


despite all the bad news, the hysteria, prices of $ 100 and 200 on major exchanges, flaws in the protocol, massive attacks, headlines announcing bitcoins death --- more than enough reasons to rationally decide to get out of this madness (most of you with still incredible profits ) ---

despite the fact all the "bitcoin will go down sub 300" bears were actually fucking right (hard to admit. i actually don´t know what is hurting more: the fact my coins are worth less now or that those guys were actually right  )

despite bitcoin being "an experiment", in its infancy, despite of new records of votality,m

despite of all the FUD in the press and in the forums,

despite all of this and more: YOU ARE STILL INVESTED, you are still here, you still give a shit, - in other words: you are a true believer. if the community hodls the coins with balls of steel like we are witnessing right now, if you and me keep smiling, expressing great levels of absolute trust every new second in the midst of this chaos, i say bitcoin is unsinkable. we all depend on money. it´s not a funny game or so. to some it is very serious decision about wealth, future wealth and faith in this new technology that may free us from banks one day.

the fact that current price is above 600 shows a level of trust and support that even the biggest critics must admit was unexpected.

i will end this little message with a firm

CCmy fellowMF

I agree... especially when you consider that except for on one exchange the price of Bitcoin held up like boss in the face of wave after wave of bad news and major FUD. Very bullish.

[600watt]

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.

i disagree: in order to be successful we need mass adoption. how can we have mass adoption with a market cap of only some billion dollars ? that is not possible.

[F-bernanke]

I wonder at what price the shorting bears will get squeezed out of there furr?

[gngrbeb2000]

I wonder at what price the shorting bears will get squeezed out of there furr?

gotta be close

[JorgeStolfi]

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.

From what I have read, Mark is holding at least 40,000 BTC that do not belong to him, whose owners have been trying to withdraw for months. 

Does that make any sense?

[fonzie]

I wonder at what price the shorting bears will get squeezed out of there furr?

Bears closed their shorts in the lower 600´s and are right now opening new ones.

[p0peji]

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).

^This. Price on Gox will be above the other exchanges before people are able to withdraw any significant amount of BTC, meaning that shorting now would be a bad decision.

[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.

s I go to sleep, wake up, coffee, breakfast etc. Come here and people are saying the same things over and over and over.

so maybe I should just repeat myself ad nauseum also. Ok.

I called the weekend chart like I had a time machine.

[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).

If you look above I made a point about a bank run crashing the sofware. How does limiting withdrawal amounts cause the software not to crash? Surely you should be limiting withdrawal requests.

Yes, but if they limit it to xx BTC per day and one tx per day, and (then maybe say) have a time delay for 'verification' - it will reduce both the crash risk and the risk of a depletion of all liquidity on the 'exchange'.

[cee-euros]

I wonder at what price the shorting bears will get squeezed out of there furr?

Bears closed their shorts in the lower 600´s and are right now opening new ones.

Some in the high 500's   This market is becoming very predictable, like gox were gonna say everythings fucked.
Lamb is on the menu today.

[raid_n]

It is interesting how people are interpreting the withdrawal limit gox stated in its press release as one on the amount of bitcoins.
While this may be the case it most probably also refers to the number of withdrawals to make sure they can indeed keep track of all of them.

Not that I want to defend Gox but this entire thing has turned into one giant FUDStorm

[ChrisML]

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).

^This. Price on Gox will be above the other exchanges before people are able to withdraw any significant amount of BTC, meaning that shorting now would be a bad decision.

Whoever is shorting now deserves an asskicking.

[TERA]

Isn't it weird there are suddenly all these bulls, with attitudes.

[kurious]

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.

s I go to sleep, wake up, coffee, breakfast etc. Come here and people are saying the same things over and over and over.

so maybe I should just repeat myself ad nauseum also. Ok.

I called the weekend chart like I had a time machine.

So now your self-congratulatory messages are 'ironic'?!  Cool...

[dreamspark]

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).

If you look above I made a point about a bank run crashing the sofware. How does limiting withdrawal amounts cause the software not to crash? Surely you should be limiting withdrawal requests.

Yes, but if they limit it to xx BTC per day and one tx per day, and (then maybe say) have a time delay for 'verification' - it will reduce both the crash risk and the risk of a depletion of all liquidity on the 'exchange'.

Im not understanding your thinking. Liquidity on the exchange would be fiat. People aren't looking to sell for goxbuxxx so why would there be a reduction of liquidity on the exchange. You cant get goxxbuxx out the only way to leave is with btc.  The exchange is actually very liquid if you really want to sell your btc and not buy it back. Ive been up all night so excuse me if Im completley missing something.

[fonzie]

SHOTRING! MAX PROFIT! SOON! ONCE AGAIN!

I got some left up to 690$

Could the bulls please trigger them.

[p0peji]

Isn't it weird there are suddenly all these bulls, with attitudes.

Why all this nonsense about "Bulls and Bears", the way I see it there are sensible people trying to make some $ by trading BTC and there are full on retards.