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

[windjc]

US exchanges following China following Gox

Could get ugly beautiful.

Cheap coins.

[giletto]

I had a fortune cookie at lunch today.
It said "Smart people will take the advice of others, but only the wise will profit from it."
WHAT DOES IT MEAN??

You should Listen, but chose wisely by yourself.

[Bitchardo]

https://i.imgur.com/OmHp1g9.png

[windjc]

Panic selling before the next update about still working on it. I think Gox goes into the 100s this week. I still think its solvent.

[Bitchardo]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody 

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

[OldGeek]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody 

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

I've been watching that show for a few hours now and what I saw was a whole bunch of market sells.  Whoever it was waited until the bids built up then hammered them down.  It continues now at a lower level.

[ChartBuddy]

Explanation

[derpinheimer]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody  

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

Im looking for the evidence but not seeing anything remotely convincing.

Literally, the entirety of the evidence is a single picture that doesnt say a damn thing? LOL!

[ShroomsKit]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody 

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

Great, i can now imagine 1000's of people dumping their coins as soon as they get them out. Maybe Gox is the real price after all.

[surfer43]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody 

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

Great, i can now imagine 1000's of people dumping their coins as soon as they get them out. Maybe Gox is the real price after all.

That would be great 
I could finally afford 1 BTC  if that happened

[RicePicker]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody  

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

Great, i can now imagine 1000's of people dumping their coins as soon as they get them out. Maybe Gox is the real price after all.

If you are able to deposit as much money as you would like into GOX, but everyone is limited withdrawing say 5-10 BTC per week/month, there will be a slow selling of coins from Gox to any other exchange for 50-60% profit. I am betting there are plenty of large bitcoin account holders within Gox based on the volume and the fact that Gox's fees are outrageous willing to keep the price low to GTFO of there.    

[OldGeek]

...img snip...
Panic selling before the next update about still working on it. I think Gox goes into the 100s this week. I still think its solvent.

Any guess whether this will drag the western markets down too?  I suppose a better question would be:  how far will this drag the others down?

[RicePicker]

If anyone was around during Pirate40's ponzi scheme in 2012 the sentiment on the forums is extremely similar to this Mtgox issue. There were plenty of well known members of the bitcoin community backing up Pirate pledging that he was not running a ponzi scheme and people were buying shares of his investment on GLBSE for 40-50% betting that he would pay out again. Pirate40's identity was known by everyone. He went to the Las Vegas bitcoin convention and he still managed to scam how many bitcoins and dollars from everyone? A lot of well known members of this forum were the ones selling shares to his company. I like to take everyone advice here on this forum with a grain of salt.  

[OldGeek]

That market seller on gox did it again just a few minutes ago.  The price was hovering between 249 and 253.  Then our hero placed a market sell amounting to 206 coins which drove the price back down to the 248.15 level.

[PoolMinor]

It isn't panic selling. It's calculated manipulation. For almost exactly one hour, somebody was buying coins at 260 on mtgox and selling for 630 at coinbase...
As far as I'm concerned, it's clear evidence of withdrawal from gox, by somebody 

http://www.reddit.com/r/BitcoinMarkets/comments/1yey4m/deleted_from_bitcoin_subreddit_for_the_past_hour/

Or it could be these guys

[windjc]

If anyone was around during Pirate40's ponzi scheme in 2012 the sentiment on the forums is extremely similar to this Mtgox issue. There were plenty of well known members of the bitcoin community backing up Pirate pledging that he was not running a ponzi scheme and people were buying shares of his investment on GLBSE for 40-50% betting that he would pay out again. Pirate40's identity was known by everyone. He went to the Las Vegas bitcoin convention and he still managed to scam how many bitcoins and dollars from everyone? A lot of well known members of this forum were the ones selling shares to his company. I like to take everyone advice here on this forum with a grain of salt.  

Including your own?

[Davyd05]

3-4 hrs to the usual announcement time , I don't think I can sleep when this kind of shit could be the story that causes the biggest green candle I've ever seen.

[ChrisML]

3-4 hrs to the usual announcement time , I don't think I can sleep when this kind of shit could be the story that causes the biggest green candle I've ever seen.

Same.. but I just came out of a fucking nightshift.. So I have to

Candle to the moon.. but where will it end.

[derpinheimer]

Gox dropping harder now... Panic or insiders? :0

[OldGeek]

Some of both?