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

[byronbb]

Apparently that crazy document was real.  Restructuring coming...
http://www.domaininvesting.com/andy-booth-sells-gox-com/

Wow, 700K Bitcoins was a lot to pay for it! 

Going to have to buy 700k btc on bitstamp: to the moon.

[Walsoraj]

https://twitter.com/CharlieShrem/statuses/438163408165535744

I disagree, I knew he had buyers lined up. However with this leak (if its true) let's see if they still want to bail out Gox.

^just posted

[zyk]

Who will Karpelas sue, and what will be the effect?

Sue him for what he doesn't have?

The empty GOX Limited shell gave costumers coins of course in his pockets.....he is riding in the sunset with the heist, if he can fake

whatever data explaining that he is not to blame that costumers coins went to such and such adress....the laywers will make sure to prove

that they deserve it

[ChrisML]

Meanwhile on Bitcoinbuilder:

Open Orders
Last Trade Price: 0.14 ฿ (Gox/Bitstamp: 0.266) Vol: 41060 GOXBTC

[Arcas]

I'm exhausted. Good night guys, save some cheap coins for me when I wake up please.

[seleme]

Meanwhile on Bitcoinbuilder:

Open Orders
Last Trade Price: 0.14 ฿ (Gox/Bitstamp: 0.266) Vol: 41060 GOXBTC

people paying that much are retarded.

I've just opened 20 BTC bid there but nowhere close to that.

[Walsoraj]

https://twitter.com/Percival/status/438164050682204161

Larger statement from Blockchain coming at 7am ET tomorrow.

[7thKingdom]

The Bitcoin Foundation should audit, certify, rank, and give a seal of approval for each exchange.

You mean the Shrem Karpeles & Friends Foundation?

Latest tweet from TwoBitItidiot... "Thanks, man. I never mince words, I think this is disastrous from a reg standpoint. The hammer will now come down hard."

The conspiracy theorist in me can't help but to think the bitcoin foundation was compliant in all this and intentionally deceived the community.  They have been very pro regulation for a long time, and what better way to ensure the US comes down hard with regulation than making a grand show of what can happen without it.

It's genius I tell you!

[marcus_of_augustus]

At the minimum a ratings agency for exchanges and Coiinbase and anyone else who secures bitcoins for others has a ready-made market.

An it is easy to do with the blockchain balances provable.

[Hypnoise]

My guess is that today someone doing quick arbitrages on stamp, thats why so many market order dumps out of the blue.

A huge chunk of bitstamps fiat was drained from the 5.5mUSD sell hours so. Its probably people sensing the lack of buying pressure and dumping.

Asks are up and bid sum down on stamp. Looks bleak.

or it is gox coins

[adamstgBit]

So, how long is Mark going to let the site be down and trading suspended before he provides some sort of explanation? 
Hours, days, weeks?
Could this be his exit strategy?

months.

[Vigil]

Someone needs to start an exchange ratings business or private regulatory business for Bitcoin to prove we don't need government regulation.

[wrostek]

Not surre if this was already posted, but, from: http://www.reddit.com/r/BitcoinMarkets/comments/1yuuok/daily_discussion_tuesday_february_25_2014_early/cfnzt9i


So here's what has happened for those who can't keep up. I doubt any of this is a pure coincidence given the time frame.

1.) MtGox allegedly lose 750,000 Bitcoins, according to a leaked document in the hands of TwoBitIdiot, a known person within the Bitcoin community.

2.) He then decides to leak the document to the public 1 - 2 hours later confirming this number, and within the document it says they are to rebrand as http://gox.com and lie their way out of this mess.

3.) After the document is leaked, MtGox halts trades immediately (Around 5 minutes after)

4.) At this point, http://gox.com is still a parked domain, and not long after starts to redirect to http://mtgox.com (EDIT: More information on the domain situation from chris45215, which basically confirms that MtGox were indeed planning to relaunch as Gox.com as explained in the leaked document)

5.) After around 30 minutes, Coinbase, Blockchain, Circle and Kraken simultaneously release identical articles titled "Joint Statement Regarding the Insolvency of Mt.Gox" (EDIT: Since then, some of the articles have removed the word "insolvency", but not all of them.)

6.) A further 5 minutes later, http://mtgox.com is taken completely offline.

7.) And now we are here, with not a single word from MtGox.

[gmannn]

So, how long is Mark going to let the site be down and trading suspended before he provides some sort of explanation? 
Hours, days, weeks?
Could this be his exit strategy?

Their strategy so far has been to deny everything, admit no wrongdoing, shift blame.  The only time they will explain truthfully has come out in leaks, and might even come out of court proceedings or otherwise.

[hmmmstrange]

We need a bitcoin holiday, where once a year we pull all of the coins out of the exchanges.

[Walsoraj]

Can we trust Mark to destroy all the ID docs he has?
 
 

[Nightowlace]

Can anyone post a link to the 2bit statement? Thanks

[hyphymikey]

The Bitcoin Foundation should audit, certify, rank, and give a seal of approval for each exchange.

You mean the Shrem Karpeles & Friends Foundation?

Karpeles is out, Shrem was shutdown so he should be out too. There has to be a way for the Foundation to have trustworthy members, then I guess we can do this audit thingy I proposed.

Satoshi has to be pissed that these old timers can't even run business well and in turn gives Bitcoin a bad name.

[TERA]

Well this is it. Possibly the beginning of the bottom leg of the final capitulation. When is wallstreet, the twinkies, bit, fortress, whales etc. going to start buying?

[Vigil]

Not surre if this was already posted, but, from: http://www.reddit.com/r/BitcoinMarkets/comments/1yuuok/daily_discussion_tuesday_february_25_2014_early/cfnzt9i
.....................................

7.) And now we are here, with not a single word from MtGox.

They are going to announce on the 25th.