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

[jojo69]

gox price has moved. it's now 131.71 instead of 135

not seeing it

[MANofthePEOPLE]

I'm guessing it's only a matter of time before we go down again?

[jl2012]

gox price has moved. it's now 131.71 instead of 135

not seeing it

on the Android Bitcoinium app

btw, still 135 on bitcoinity

[keithers]

coinbase buys and sells are hovering around $492 momentarily (significantly above Stamp)

[Nicholas-Carraway]

coinbase buys and sells are hovering around $492 momentarily (significantly above Stamp)

That probably means they're running out of money on the exchange again.

[keithers]

I'm guessing it's only a matter of time before we go down again?

I'm not sure, it just depends on if enough buy orders get placed before someone comes and dumps another 1k of btc.  The sell off seems to be leveling off from the Gox news.  People in the United States that went to bed early are going to wake up to a big surprise in the graphs...

[keithers]

coinbase buys and sells are hovering around $492 momentarily (significantly above Stamp)

That probably means they're running out of money on the exchange again.

They aren't short on money, I can tell you that much.  Maybe short on BTC that is "on deck" for instant buys...but they are solvent (for now at least)...

[Girth]

This is an excerpt from the 'leaked' document. (emphasis mine)

"The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company. However, with Bitcoin/crypto just recently gaining acceptance in the public eye, the likely damage in public perception to this class of technology could put it back 5~10 years, and cause governments to react swiftly and harshly. At the risk of appearing hyperbolic, this could be the end of Bitcoin, at least for most of the public."

How do you put back a technology 5 to 10 years that is barely 5 years old?
I guess you tend towards the lower end.  Or perhaps he meant to say 5 to 10 weeks.
Also notice the phrase "this could be the end of Bitcoin".  Sound familiar?
It looks more than anything like the wording was chosen specifically to create a panic.

edit: bolding

[jojo69]

best fud yet

would trade again

[virtualfaqs]

I'm guessing it's only a matter of time before we go down again?

I'm not sure, it just depends on if enough buy orders get placed before someone comes and dumps another 1k of btc.  The sell off seems to be leveling off from the Gox news.  People in the United States that went to bed early are going to wake up to a big surprise in the graphs...

Yes my guess is we're basically reacting from $135 to $0 on Mtgox. And my logic was we dropped from $850 to $500 when Mtgox dropped from $1000 to $100. So $135 to $0 so other exchanges has to be $300 to $500. And I remember the last time I tried to get greedy and get the bottom I ended up missing out from $450 to $1000. I doubt it will happen this time. It's a whole new ball game once again. So we'lls ee what happens.

[Nicholas-Carraway]

coinbase buys and sells are hovering around $492 momentarily (significantly above Stamp)

That probably means they're running out of money on the exchange again.

They aren't short on money, I can tell you that much.  Maybe short on BTC that is "on deck" for instant buys...but they are solvent (for now at least)...

right, I'm sure they're solvent, its just they need to keep money on the exchange to buy btc for their customers.  A lot of buying tonight for them I'm sure.

[bassclef]

This is an excerpt from the 'leaked' document. (emphasis mine)

"The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company. However, with Bitcoin/crypto just recently gaining acceptance in the public eye, the likely damage in public perception to this class of technology could put it back 5~10 years, and cause governments to react swiftly and harshly. At the risk of appearing hyperbolic, this could be the end of Bitcoin, at least for most of the public."

How do you put back a technology 5 to 10 years that is barely 5 years old?
I guess you tend towards the lower end.  Or perhaps he meant to say 5 to 10 weeks.
Also notice the phrase "this could be the end of Bitcoin".  Sound familiar?
It looks more than anything like the wording was chosen specifically to create a panic.

edit: bolding

Perhaps referring to pre-bitcoin cryptos that never took off, liberty reserve, e-gold... etc. It was obviously put together hastily. Place your bets accordingly.

[crazy_rabbit]

Well this is sad. Not only because I'll never get my bitcoins back but because it looks bad in general. Karples will go down as the greatest enemy bitcoin ever had.

[podyx]

what a fucking mess

[bitcoinvest]

best fud yet

would trade again

+1

[ShroomsKit_Disgrace]

Sorry if i am repeating old news, but, which are your thoughts abut this document?:

 http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

[TERA]

I shorted my $400 coins down from $480 to $440. Now it's like I bought them at $360.

[fluidjax]

Looking at http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

"The cold storage has been wiped out due to a leak in the hot wallet."
   WTF does this mean?

"The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company."
   "deserves to" - thats professional

"At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years."
   How can this quantity of BTC missing go unnoticed... its almost beyond belief, they must be absolutely incompetant.


Anyone dealing with the insolvency of Gox should be buying up Bitcoinbuilder Goxcoins to reduce their BTC liability.
Gox has $, so they buy 1000BTC on stamp, then buy Gox coins at .12 = 8333 Gox coins removed from their liability.

[Nemo1024]

What has happened tonight?
All my buy bids got filled, even at my lower end. I am now officially out of fiat on stamp!

[versace]

Looking at http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

"The cold storage has been wiped out due to a leak in the hot wallet."
   WTF does this mean?

im going to assume the hot wallet is just the opposite of cold storage and refers to the active wallets they were using for transfers