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

[fcmatt]

Gox just admitted insolvency...

link?

Can't find anything on that... Bullshit?

it just just fud from an article where mark says "that is private information" when asked by a reporter.

[MatTheCat]

Can't find anything on that... Bullshit?

If there had been an announcement, then Goxcoin would be trending towards zero  right now, which it isn't....at least not yet.

[billyjoeallen]

Gox just admitted insolvency...

Link?

[zyk]

1800BTC until 580 on Stamp and also a 1000BTC ask wall@580 on BTC-E.
It´s getting cheaper every day 

Its worth 60 bucks not a cent more compared to LTC...Gox will tell you soon enough

[threecats]

<mtgox589> @ne0futur how many devs are working on the problems every day?
<artazor> @neofutur, why not to post the only one tweet in new clean twitter - "Be prepared for new clean Mt.Gox tweet history" or something like this. Just "Reloading..." would be enough
<ne0futur> at least 3 devs afaik
<ne0futur> artazor: yes there will be a tweet soon
Source: #mtgox at freenode

from reddit

[oda.krell]

Anyone following my $530 bottom call has made money, even if the numbers didn't exactly match. Anyone waiting for $500 coins is still waiting. Fact.

Last time we spoke without you having to read my ignored comments in someone elses quote, you were telling me that $820 was damn cheap Bitcoins.

Yeah...they are still waiting for $500 Bitcoin.....but for how much longer?

And then how much longer until $500 Bitcoin is considered bag holder prices?

1800BTC until 580 on Stamp and also a 1000BTC ask wall@580 on BTC-E.
It´s getting cheaper every day  

The 10K whale tricked trader bots into slamming 3 million USD of liquidity into his wall at $779. This price level seems to represent an absolute market lid for the time being.

Probably true. But I'd be careful making too much of that whale dump. Go back to July 10 (or so) in 2013. Marked the end of the post-April bear market. Buying pressure slowly, but clearly started building up after the bottom, 2h, then 6h BB started looking really nice, then: HUGE dump.

Took price development back for about a week, but didn't alter the general direction.

What I'm trying to say is: not sure yet if this is the reversal or not, but whales can occasionally be dumbfucks as well, and can lose money. Whoever dumped that huge load back in July 18 never got his coins back for the same price (unless he was on gox in the past days, but that doesn't quite cut it.)

[empowering]

Gox just admitted insolvency...

You are not a Fudster normally?

[ChrisML]

<mtgox589> @ne0futur how many devs are working on the problems every day?
<artazor> @neofutur, why not to post the only one tweet in new clean twitter - "Be prepared for new clean Mt.Gox tweet history" or something like this. Just "Reloading..." would be enough
<ne0futur> at least 3 devs afaik
<ne0futur> artazor: yes there will be a tweet soon
Source: #mtgox at freenode

from reddit

Soon, as in: Soon™?

[zyk]

Gox just admitted insolvency...

You are not a Fudster normally?

Gox is insolvent for quite some time already.......but ponzis run as long as idiots sending their money there...

and BB keeps the scam going until the Gox accounts get frozen and all bids are withdrawn...and then the run

will drown the other "ecosystem -exchanges" as well...GTFO as the whale at 579 cause you´ll need time to get your Fiat back from

there as long as there are no queues....Cheers

[kkaspar]

You clearly have no clue what kind of money is being put in to developing bitcoins business infrastructure. Open source code like this doesn't foster persay private industry development because they can't patent and or sell the code as their own. However bitcoin is inadvertently being funded by all of us when we help build its infrastructure.

So, you see that good old "it's too big to fail" will hold up bitcoin.
You clearly have no clue that by building support services, then you are not dependent on bitcoin and you can jump cryptos with relatively easy reconfiguration. It's smart, because this idea has potential and they don't have to worry if bitcoin fails. There will always be a better coin, that can be pumped and marketed.
Creating a new coin has a lot of marketing value. If google would create a free open sourced coin, then it would profit enough from everyone calling it as "googlecoin". Open sourced project could be funded for advertisement perks.
I think that Bitcoins pride and joy is Armory, that makes bitcoin different from other alts. Armory is the program that let's you store your coins with cold wallet security and relative comfort at the same time. For instance, if someone would adopt Armory to an altcoin, then that altcoin would probably go to da m00n.
If someone can create a secure system with even better speed, usability and stability, for another coin. Then that coin would probably overtake bitcoin soon.
Currently the market is raw and stupid, and the price is 95% made up from hype. But in the future the quality of code will decide the winner coin.
This idea is important, so bitcoin will be facing some though competition.

[Davyd05]

You clearly have no clue what kind of money is being put in to developing bitcoins business infrastructure. Open source code like this doesn't foster persay private industry development because they can't patent and or sell the code as their own. However bitcoin is inadvertently being funded by all of us when we help build its infrastructure.

So, you see that good old "it's too big to fail" will hold up bitcoin.
You clearly have no clue that by building support services, then you are not dependent on bitcoin and you can jump cryptos with relatively easy reconfiguration. It's smart, because this idea has potential and they don't have to worry if bitcoin fails. There will always be a better coin, that can be pumped and marketed.
Creating a new coin has a lot of marketing value. If google would create a free open sourced coin, then it would profit enough from everyone calling it as "googlecoin". Open sourced project could be funded for advertisement perks.
I think that Bitcoins pride and joy is Armory, that makes bitcoin different from other alts. Armory is the program that let's you store your coins with cold wallet security and relative comfort at the same time. For instance, if someone would adopt Armory to an altcoin, then that altcoin would probably go to da m00n.
If someone can create a secure system with even better speed, usability and stability, for another coin. Then that coin would probably overtake bitcoin soon.
Currently the market is raw and stupid, and the price is 95% made up from hype. But in the future the quality of code will decide the winner coin.
This idea is important, so bitcoin will be facing some though competition.

no they're building bitcoin infrastructure not googlecoin infrastructure..( some of this is proprietary). It has nothing do with being to big to fail.. its just we're strengthening it by making use of it in business.

[MatTheCat]

Probably true. But I'd be careful making too much of that whale dump. Go back to July 10 (or so) in 2013. Marked the end of the post-April bear market. Buying pressure slowly, but clearly started building up after the bottom, 2h, then 6h BB started looking really nice, then: HUGE dump.

Took price development back for about a week, but didn't alter the general direction.

What I'm trying to say is: not sure yet if this is the reversal or not, but whales can occasionally be dumbfucks as well, and can lose money. Whoever dumped that huge load back in July 18 never got his coins back for the same price (unless he was on gox in the past days, but that doesn't quite cut it.)

Market was already correcting before whale turned up with his 10K of auctioned/stolen/Gox'd BTC.

I started shorting on Bitfinex again (being sure not to set any stop losses for the fkers to farm) as I seen that the charts were badly overbought and couldn't resist. This was at about $633 and I got in at about $623. 10K whale never turned up until $595.18.

So taking his market input out of the equation, charts were already well on their way to forming yet another bear wedge with support at $530, similar to the $765 bear support wedge through Jan 2014. With the whales sell off, this bearish wedge has broke to the downside, at least on Stamp. This alone wouldn't count for anything other than an anomaly, except like I said, the whale tricked bots into blowing $3 million USD at his $579 sell wall, in addition to soaking up the same again in market liquidity at lower prices.

I am always prepared to keep my mind open to possibilities that veer beyond my own take on the market, as this is real money that I am playing with here. However, for me, $530 was not a bottom. It was the support of a bear wedge and this whale dump has simply brought a jack-boot down upon the still bearish market.

[empowering]

You clearly have no clue what kind of money is being put in to developing bitcoins business infrastructure. Open source code like this doesn't foster persay private industry development because they can't patent and or sell the code as their own. However bitcoin is inadvertently being funded by all of us when we help build its infrastructure.

So, you see that good old "it's too big to fail" will hold up bitcoin.
You clearly have no clue that by building support services, then you are not dependent on bitcoin and you can jump cryptos with relatively easy reconfiguration. It's smart, because this idea has potential and they don't have to worry if bitcoin fails. There will always be a better coin, that can be pumped and marketed.
Creating a new coin has a lot of marketing value. If google would create a free open sourced coin, then it would profit enough from everyone calling it as "googlecoin". Open sourced project could be funded for advertisement perks.
I think that Bitcoins pride and joy is Armory, that makes bitcoin different from other alts. Armory is the program that let's you store your coins with cold wallet security and relative comfort at the same time. For instance, if someone would adopt Armory to an altcoin, then that altcoin would probably go to da m00n.
If someone can create a secure system with even better speed, usability and stability, for another coin. Then that coin would probably overtake bitcoin soon.
Currently the market is raw and stupid, and the price is 95% made up from hype. But in the future the quality of code will decide the winner coin.
This idea is important, so bitcoin will be facing some though competition.

So do you think that the 3-4 year head start of the network and community means nothing ?

I agree that there maybe a better coin and it may do well and it may be competition to Bitcoin... but then the same is still true of Apple and Google


    If wishes were horses
    Beggars would ride:
    If turnips were bayonets
    I would wear one by my side

[meanig]

Gox just admitted insolvency...

link?

For fuck sake like. Who the fuck is going to admit their insolvency at 2.19am local time. You're so desperate to fill your boots with cheap coins it's laughable.

[seleme]

Probably true. But I'd be careful making too much of that whale dump. Go back to July 10 (or so) in 2013. Marked the end of the post-April bear market. Buying pressure slowly, but clearly started building up after the bottom, 2h, then 6h BB started looking really nice, then: HUGE dump.

Took price development back for about a week, but didn't alter the general direction.

What I'm trying to say is: not sure yet if this is the reversal or not, but whales can occasionally be dumbfucks as well, and can lose money. Whoever dumped that huge load back in July 18 never got his coins back for the same price (unless he was on gox in the past days, but that doesn't quite cut it.)

Market was already correcting before whale turned up with his 10K of auctioned/stolen/Gox'd BTC.

I started shorting on Bitfinex again (being sure not to set any stop losses for the fkers to farm) as I seen that the charts were badly oversold and couldn't resist. This was at about $633 and I got in at about $623. 10K whale never turned up until $595.18.

So taking his market input out of the equation, charts were already well on their way to forming yet another bear wedge with support at $530, similar to the $765 bear support wedge through Jan 2014. With the whales sell off, this bearish wedge has broke to the downside, at least on Stamp. This alone wouldn't count for anything other than an anomaly, except like I said, the whale tricked bots into blowing $3 million USD at his $797 sell wall, in addition to soaking up the same again in market liquidity at lower prices.

I am always prepared to keep my mind open to possibilities that veer beyond my own take on the market, as this is real money that I am playing with here. However, for me, $530 was not a bottom. It was the support of a bear wedge and this whale dump has simply brought a jack-boot down upon the still bearish market.

We'll test SMA 200, it's only the question how soon it would be and how high it will climb before testing it.

[analytics]

Gox just admitted insolvency...

link?

For fucks sake like. Who the fuck is going to admit their insolvency at 2.19am local time. You're so desperate to fill your boots with cheap coins it's laughable.

Is there a way to mark people as fraudster's spreading FUD?  Bitcointalk should deafult to ignore or ban people who the community says are known fraudsters.

[tarmi]

<mtgox589> @ne0futur how many devs are working on the problems every day?
<artazor> @neofutur, why not to post the only one tweet in new clean twitter - "Be prepared for new clean Mt.Gox tweet history" or something like this. Just "Reloading..." would be enough
<ne0futur> at least 3 devs afaik
<ne0futur> artazor: yes there will be a tweet soon
Source: #mtgox at freenode

from reddit

Soon, as in: Soon™?

no, soon as in 2 weeks.

[kkaspar]

no they're building bitcoin infrastructure not googlecoin infrastructure..( some of this is proprietary). It has nothing do with being to big to fail.. its just we're strengthening it by making use of it in business.

It doesn't matter that they are building bitcoin infrastucture, because if "googlecoin" would be created, and it would be of better code quality, then they can easily just take in "googlecoin" aswell.
What I am telling you is that the support services are not dependent on bitcoin. So, it does not mean that the funds invested into the industry will guarantee the success of bitcoin.

Bitcoin is like the worlds first computer game. The entire industry won't concentrate in developing this single game. The industry will build many games with increasing levels of complexity and depth. The industry is not dependent of this one first game.

[billyjoeallen]

I'll hold that bag at $550, Boys. I threw back all those falling knives so all I have in my hands now is a big pile of fiat I want to get rid of.

[oda.krell]

Probably true. But I'd be careful making too much of that whale dump. Go back to July 10 (or so) in 2013. Marked the end of the post-April bear market. Buying pressure slowly, but clearly started building up after the bottom, 2h, then 6h BB started looking really nice, then: HUGE dump.

Took price development back for about a week, but didn't alter the general direction.

What I'm trying to say is: not sure yet if this is the reversal or not, but whales can occasionally be dumbfucks as well, and can lose money. Whoever dumped that huge load back in July 18 never got his coins back for the same price (unless he was on gox in the past days, but that doesn't quite cut it.)

Market was already correcting before whale turned up with his 10K of auctioned/stolen/Gox'd BTC.

I started shorting on Bitfinex again (being sure not to set any stop losses for the fkers to farm) as I seen that the charts were badly oversold and couldn't resist. This was at about $633 and I got in at about $623. 10K whale never turned up until $595.18.

So taking his market input out of the equation, charts were already well on their way to forming yet another bear wedge with support at $530, similar to the $765 bear support wedge through Jan 2014. With the whales sell off, this bearish wedge has broke to the downside, at least on Stamp. This alone wouldn't count for anything other than an anomaly, except like I said, the whale tricked bots into blowing $3 million USD at his $797 sell wall, in addition to soaking up the same again in market liquidity at lower prices.

I am always prepared to keep my mind open to possibilities that veer beyond my own take on the market, as this is real money that I am playing with here. However, for me, $530 was not a bottom. It was the support of a bear wedge and this whale dump has simply brought a jack-boot down upon the still bearish market.

Disagree with your assessment on yesterday. I'm keeping my eyes open for signs that the reversal happens, simply because my short term buys would become "real" holds again in that case.

Yesterday was such a day. Strong signals on 6h BB, CMF sharply up. Low on volume, because weekend, so no certainty yet, sure. Earlier today came the retracement. Of course we were short term overbought, that's what happens in either case, when a trend reverses, or when it's a false breakout. That "retracement" however was fucked up brutally by our friend, the whale.

So back to square one, imo. Looking bearish again, I agree with you, but to really count as a continuation of a bear market we would damn well need to see sub-500 coins at some point, I'm sure you agree. And getting there is sure taking some time.

The longer we bounce between 530 and 580, the less more I'll warm up to the idea that sub-500 coins won't happen anymore. Except maybe for a flash crash if gox outright declares that they're bankrupt and the the sheep hit the sell button without thinking twice.