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

[Walsoraj]

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?

I heard wallstreet is only interested in Dogecoin.

[JorgeStolfi]

Random bit: today (Monday Feb/24 UTC) there was unusually large trade volume at MtGOX in JPY: ~14 kBTC worth of. It was ~1.7 yesterday, ~3.6 the day before.

[derpinheimer]

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.

QFT

One error: The trading shutdown was well over 5 minutes after the leak. And it was almost exactly 9:00PMEST, so, it seemed to be planned, not a panicked shutdown.

[jojo69]

there's some more, see that?

that is definitely blood

[creekbore]

So, TERA what do you think will happen if we breach the 200EMA on the three month chart...gates of Hell or renewed interest.

[MANofthePEOPLE]

Finally some movement. Who's in watching charts for a few hours? 

[Nicholas-Carraway]

Upon further reading of twobit, it appears the leak was actually done to calm nerves.  It's gonna take a while to recover from MtGox malfeasance, but I think the PDF was prepared for all the other players (listed in the statement) who are working in the best interest of btc.  Which means Mark resigns tomorrow (today).  

[Vigil]

Upon further reading of twobit, it appears the leak was actually done to calm nerves.  It's gonna take a while to recover from MtGox malfeasance, but I think the PDF was prepared for all the other players (listed in the statement) who are working in the best interest of btc.  Which means Mark resigns tomorrow (today).  

He won't resign until a new CEO is appointed.

[Walsoraj]

Stamp beginning to panic. GET THE POPCORN!

[ChrisML]

Just look at this:

100.00000000    GOX for    0.29900000   ฿ ea.

I made some big fucking mistaked whilst trading, but that one should be the cherry on the top. Mother of god.



EDIT
It can actually be worse:

514.47420594    GOX for   0.38000000   ฿ ea

[KeyserSoze]

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

I think we can count on him to have already sold them to the highest bidder.

[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.

What do people expect? It's only 1:30pm.

Depends on which time-zone.

[derpinheimer]

Just look at this:

100.00000000    GOX for    0.29900000   ฿ ea.

I made some big fucking mistaked whilst trading, but that one should be the cherry on the top. Mother of god.

...what?

[humanitee]

Just look at this:

100.00000000    GOX for    0.29900000   ฿ ea.

I made some big fucking mistaked whilst trading, but that one should be the cherry on the top. Mother of god.

Ouch.

[theonewhowaskazu]

JUST LEAVING THESE HERE:

https://data.mtgox.com/api/2/LTCUSD/money/ticker
https://data.mtgox.com/api/2/BTCUSD/money/ticker

Functioning...

[ChrisML]

Just look at this:

100.00000000    GOX for    0.29900000   ฿ ea.

I made some big fucking mistaked whilst trading, but that one should be the cherry on the top. Mother of god.



EDIT
It can actually be worse:

514.47420594    GOX for   0.38000000   ฿ ea

^^ 

[derpinheimer]

And your point is??? We've.. only seen BB for a week now.

[empowering]

[Adrian-x]

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!

This +1

[ChrisML]

And your point is??? We've.. only seen BB for a week now.

That this guy probably spend ~~100 Bitcoins on buying cheap Gox coins... which are useless now.