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

[molecular]

To me it seems the same, as if people would have told that "Spacewar!" will be the computer game that will be played by everyone for several decades.

"Spacewar?"  ....perhaps Space Invaders or Asteroids.  Personally, I was all over Phoenix.

space invaders. still playing it on atari simulator.

[seleme]

Atari, lol, those were the times..

[ChartBuddy]

Explanation

[octaft]

Considering we are deflating from a bubble, I doubt Gox going away is going to bring up the price immediately to $1000+ like most of you are thinking.

[JorgeStolfi]

The fact that you can't withdraw fiat or bitcoins from a Bitcoin exchange was the first serious indication that there is foul play going on.

Weren't there other signs:

* The price 10% over other exchanges

* The replaying of transactions during the December/2013 crash

[molecular]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

wow, hiding stuff for lawsuits?

is that the gentle sound of paper shredders I hear thrumming in the distance?

I see smoke. There might be fire!

[derpinheimer]

Stamp gonna blow down...

Oh gox, I have no idea what to do with my money in there....

Either some really good news or some really bad news is on the horizon...

[molecular]

Atari, lol, those were the times..

yeah baby:



should make a trading client for it.

[adamstgBit]

Something interesting is happening at the moment I think. Gox remove their tweets, relocate their office and that link few pages back saying "light at the end of the tunnel for gox customers". Maybe the exchange really is being sold to some more competent people? We'll see, we'll see.

If this is the case.... in my personal estimation that would be the best outcome of this entire debacle (assuming it really is taken over by competent people). You don't get the bad press of a major exchange completely failing, you get Karples and his cronies out of the picture, and hopefully true market forces can restore order to this circus. If the exchange becomes is compentent, solvent and transparent, would be a great thing for everyone.

seems like wishfull thinking

but hey, they made a site for it and everything, http://mtgoxtakeover.com/ not sure if this is some sort of elaborate scam tho...

[Holliday]

The fact that you can't withdraw fiat or bitcoins from a Bitcoin exchange was the first serious indication that there is foul play going on.

Weren't there other signs:

* The price 10% over other exchanges

* The replaying of transactions during the December/2013 crash

The exchange rate being 10% over other exchanges was due to the fact that you couldn't withdraw fiat.

But yes, there were plenty of other signs. There were signs back in 2011.

[derpinheimer]

Something interesting is happening at the moment I think. Gox remove their tweets, relocate their office and that link few pages back saying "light at the end of the tunnel for gox customers". Maybe the exchange really is being sold to some more competent people? We'll see, we'll see.

If this is the case.... in my personal estimation that would be the best outcome of this entire debacle (assuming it really is taken over by competent people). You don't get the bad press of a major exchange completely failing, you get Karples and his cronies out of the picture, and hopefully true market forces can restore order to this circus. If the exchange becomes is compentent, solvent and transparent, would be a great thing for everyone.

seems like wishfull thinking

but hey, they made a site for it and everything, http://mtgoxtakeover.com/ not sure if this is some sort of elaborate scam tho...

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[KeyserSoze]

Atari, lol, those were the times..

yeah baby: [atari console]
should make a trading client for it.

Yars Revenge
Pitfall Harry
Tutankham
I once played a single game of Pacman (flipping the high score a number of times) on Atari from the time I got up until my parents got home. I was afraid they'd get mad I had played the whole day so I shut it off as they pulled in. My eyes still hurt.

[ShroomsKit]

"Awesome news! Mark resigned from the foundation. Something we have been asking for for weeks! Great, now what? Uhm we do what we always do: panic sell on Stamp!"

[mmitech]

Good morning guys, what is up ? did I miss anything, I dont want to go through the last 20 pages so can anyone summarize what is happening ?

[MANofthePEOPLE]

Good morning guys, what is up ? did I miss anything, I dont want to go through the last 20 pages so can anyone summarize what is happening ?

I have been up for 20 hours and still have no idea what's going on. Sure, some news this morning regarding gox, mark etc but the dump have been going on for a good 20 hours now. Would like some clarity as well

[Mythul]

Ok, I really don't understand this market. It doesn't drop when Mt.Gox hits fucking $91 and now when MK resigns (something that everybody wanted) from the foundation, the price ..... tanks.

[JCviggen]

"Awesome news! Mark resigned from the foundation. Something we have been asking for for weeks! Great, now what? Uhm we do what we always do: panic sell on Stamp!"

It's not so much panic as some people (or someone) using the occasion to build ridiculous sell walls and drive it down. Slightest hint of positive news and we'll fly back over 600.

[byronbb]

Good morning guys, what is up ? did I miss anything, I dont want to go through the last 20 pages so can anyone summarize what is happening ?

THIS:

[Adrian-x]

Something interesting is happening at the moment I think. Gox remove their tweets, relocate their office and that link few pages back saying "light at the end of the tunnel for gox customers". Maybe the exchange really is being sold to some more competent people? We'll see, we'll see.

Indeed, lot of stuff happened in few hours. Resignation from Bitcoin FOundation, tweets deleted, something's going on.

And a huge wall on stamp pushing the price down from $600

[kkaspar]

I was around for the first big wave of video games (hence the mentions above) in the seventies and eighties, which was when the technology was truly brought to the masses. 

So while your analogy holds some water you've also got to remember:
a) an original arcade 'Space Invaders' game is pretty valuable;
b) all the developments since owe something to the original.
c) these developments happened as people became more creative and adventurous -- much the same will happen with BTC.

And since BTC can be upgraded and modified, why would "we" throw it all out and start again.  We stuck with html, we stuck with css.  We tend to upgrade protocols rather than dispose of them.  Don't you think?

I honor your life experience, and I think that:
a) Bitcoin code will be worth in the monetary just about as much as 'Space Invaders' code is worth in todays gaming industry.
b) I agree
c) I also agree, but I don't see the developments happening with BTC, but with new cryptocoins, or virtual coins of any type. It's natural development that the monetary world will evolve with the information network.

I think that the hype can hold BTC up for couple of more volatile years and then we'll have much better code to handle wealth and transactions.
BTC is a nice technological innovation, but it doesn't cover the the basic truths of modern global economy and finance. It was never designed to be this big.
And there is no development towards improving important properties. Most are affected by this "Cult of Satoshi" phenomenon, and think that the proof-of-work 10min method is actually perfect and needs no changing. There are practically 0 hopes for development in that field.
So, I agree, that bitcoin could develop into something more. But when considering the past development and the overall mood of the community, then in my book, it's not smart to bet on that bitcoin will get it's sh*t together. It's more likely that bitcoin will develop into Litecoin/Peercoin, that uses the same code, but just with more developed package. But sadly, I think that the original bitcoin source, won't have much practical value in the future, and it will only hold historical value.