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

[Denton]

The cancer is finally gone. Let's hope chemo didn't do too much damage.

[dreamspark]

Whatever happens, Im glad I stuck to the golden rule of never bet more than you can afford to lose.

If gox is finished the btc I lost on builder (which after trading was no where near what I put in) will have been lost knowing that the odds said it was worth the gamble.

[TERA]

Guys

Take the opportunity to pull at least some of the BTC you bought today off the exchanges and into cold storage.

Now.  

The exchanges can have my fiat but I'm taking my coins out.  

Cold storage was originally my plan but the sale at $520 for a 30% profit at a sudden and obviously overbought level, assisted with some speculation about a comment line on a source code on mtgox, was too good to pass up. Once I rebuy on the next MACD cross THEN I will go cold storage.

[mmitech]

Guys

Take the opportunity to pull at least some of the BTC you bought today off the exchanges and into cold storage.

Now.  

The exchanges can have my fiat but I'm taking my coins out.  

Cold storage was originally my plan but the sale at $520 for a 30% profit at a sudden and obviously overbought level, assisted with some speculation about a comment line on a source code on mtgox, was too good to pass up. Once I rebuy on the next MACD cross THEN I will go cold storage.

the next MACD cross of 4h will bring the price up and not down, if you trade on the 15m or 1h chart then you have to be really crazy, although I am wondering if you are making any profit by trading on the 15m or 1h chart after paying all fees and if it is really worth it ?

[JCviggen]

Whatever happens, Im glad I stuck to the golden rule of never bet more than you can afford to lose.

If gox is finished the btc I lost on builder (which after trading was no where near what I put in) will have been lost knowing that the odds said it was worth the gamble.

+1

Though I would also say never stop trading! These Goxcoins have had some pretty tasty swings today while Gox itself is MIA. Could double your real BTC easy at one point.

[oda.krell]

Here's a bullish thought:

Total and sudden Gox insolvency (fraudulent or not, doesn't matter for now) is the best way this situation could have resolved.

740k coins(brain fart, nothing to do with the "missing" coins... but you get the idea: a lot of coins that are stuck on gox) *extremely cheap* coins compared to the other exchanges, won't hit the market once Gox re-opens as traders arbitrage the shit out of 500+ prices on Bitstamp.

Sure, those coins will hit the market at some point, when Mark wants to buy that cozy Carribean private island, but they have to be laundered first of course.

For now, it's a big relief that the flood gates of cheap goxbux cannot be opened anymore.

[HairyMaclairy]

Good luck and good night.   I only hope I don't wake to a bunch of filled orders because the only ones left are under $400.  

[tonyq]

Oh dear.....The Gox Twitter account has had all it's messages deleted.

https://twitter.com/mtgox

[JCviggen]

Oh dear.....The Gox Twitter account has had all it's messages deleted.

https://twitter.com/mtgox

Welcome to yesterday. Or was it the day before that?

[bitcoinvest]

the way i see it is all of us that had bitcoins or fiat in MtGox will have a week that will remember for a long long time...

We should all cry or drink on the name of our coins...

[San1ty]

Oh dear.....The Gox Twitter account has had all it's messages deleted.

https://twitter.com/mtgox

No way!!!

[ShroomsKit_Disgrace]

Oh dear.....The Gox Twitter account has had all it's messages deleted.

https://twitter.com/mtgox

Really??? I just heard they are having problems with the USD withdrawals!!!! OMG!!!! Hope they dont shut down their web page!!!


                  

[TERA]

the next MACD cross of 4h will bring the price up and not down

Yes hence it is going to be my buy signal. Hopefully it doesn't go up too much before I get the chance to buy. Sometimes it doesn't go up right away, leaving me a good chance to buy, or even goes down a bit.

Also, there's a chance the next MACD upcross will not be 4H but will be 1H. This will happen if we see a 1H downcross before the next 4H upcross - the 1H will have to upcross first.  If I judge that the chart is strong enough and the momentum of the 1H upcross enough to cause a chain reaction in which the 4H upcrosses also, then I will buy the 1H. This gives more profit than waiting for the 4H.

if you trade on the 15m or 1h chart then you have to be really crazy

When there is high volume and high volatily, you can use the smaller charts and are cheating yourself out of profits by not doing so. If all I was doing was trading 4 hour charts, I wouldn't currently be sitting on a 40% profit for the day.

, although I am wondering if you are making any profit by trading on the 15m or 1h chart after paying all fees and if it is really worth it ?

During volatily, smaller charts offer more than enough volatility to make a profit. Also, Bitfinex fee is only 0.1%.

[San1ty]

Oh dear.....The Gox Twitter account has had all it's messages deleted.

https://twitter.com/mtgox

Really??? I just heard they are having problems with the USD withdrawals!!!! OMG!!!! Hope they dont shut down their web page!!!


                  

I was told they would resume withdrawals soon (TM)!

[soullyG]

Even Hitler got Goxxed 

http://www.youtube.com/watch?v=29EgnYOYqpk

[mmitech]

Here's a bullish thought:

Total and sudden Gox insolvency (fraudulent or not, doesn't matter for now) is the best way this situation could have resolved.

740k coins, *extremely cheap* coins compared to the other exchanges, won't hit the market once Gox re-opens as traders arbitrage the shit out of 500+ prices on Bitstamp.

Sure, those coins will hit the market at some point, when Mark wants to buy that cozy Carribean private island, but they have to be laundered first of course.

For now, it's a big relief that the flood gates of cheap goxbux cannot be opened anymore.

My theory:

from working in IT field for many years now, I have a feeling that gox had only a Data Base with entries of existing coins and never had real coins, let me explain, they lost the coins/funds long time ago and they had only a data of who owns what and they kept the exchange running for the whole year thinking about a way to solve that.... we should know that when they stopped/limited their FIAT withdrawals.


I dont know what to believe anymore, but I don't think it was a bank issue even with the seizure of the 5 millions in their US account, they made 10 times number from trading fees only but they couldn't pay customers anyway, a real and easy solution would be to close their bank account an open with another bank, and they could discuss terms with the new bank companies do that all the time and I am sure many banks would like a peace of that pie...

Gox was the pure definition of a Ponzi scheme, they pay old customers with new customers fund and this is how they run this exchange for so long, this is my theory...


 

[ChartBuddy]

Explanation

[Loozik]

Holy shit - just woke up.

Did Gox issue any statement / comment?

[San1ty]

Uh? https://www.facebook.com/goxbitcoin

[UnDerDoG81]

Wow so bottom was 400 on stamp. I deleted my orders @447 and put them at 300 but unfortunately not reached.