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

[billyjoeallen]

So this rally is about the removal of fear of coins from Gox being dumped on other exchanges anytime soon if ever. Makes sense.

So how can Roger Ver and Andreas Antonopolis both be Bitcoin Jesus? Bitcoin Jesi?

[adamstgBit]

So this rally is about the removal of fear of coins from Gox being dumped on other exchanges anytime soon if ever. Makes sense.

So how can Roger Ver and Andreas Antonopolis both be Bitcoin Jesus? Bitcoin Jesi?

there not
Roger Ver = Bitcoin Jesus
Andreas Antonopolis = Bitcoin Genius

[marcus_of_augustus]

Bitcoins are indeed scarce and after Gox they will get much, much scarcer.

The biggest lesson from Gox is DONT LEAVE YOUR COINS ON THE EXCHANGES! ... or in fact with anybody else.

That means a whole lot of coins are gonna get pulled from the exchanges ... yep GOX failure means scarcer coins, simple as that.

[KeyserSoze]

The biggest lesson from Gox is DONT LEAVE YOUR COINS ON THE EXCHANGES! ... or in fact with anybody else.

Odd... the lesson *I* learned from all this is "don't leave the car top down when expecting rain."

[Adrian-x]

Reading the chatlog i came up with a theory that looks increasingly probable to me.
(until i read prof7bit's explanation which came up while typing this and can be even closer to the truth but i can't comment on the technical side)

Someone's gone missing with the second/third key.Either kidnapped or gone rogue,probably blackmailing
"technically speaking it's not "lost" just yet, just temporarily unavailable"

This ties in with the "security concerns" the other guys will need his key also and "third parties involved"
Looks like he sees the coins not spent but he can't control them for some reason.

That can also explain how the document has some real figures and maybe things they were discussing among them if that is what he is admitting with "more or less" but "this document was not produced by MtGox".
[11:13] <MagicalTux> [01:09:51] <JonWickedFire> Do you think it was leaked by someone purposely to hurt you personally or gox in general? <- I have some doubts

Mark has always appeared to me like a shy nerd,currently in deep trouble.
[11:22] <JonWickedFire> How does that make you feel to hear or see people you bailed out yourself and stood up for over the years, turn on you like that?
[11:22] <MagicalTux> not good

Other variation on this is if he is in regulatory trouble (maybe something similar to Charley Shrem situation) which is preventing him from accessing the deposit box in which the keys are stored.

Blackmailing, mmm,  and could also explain the office closure, looks like the fiat is there to pay the rent, however cold storage was compromised due to some other type of intrusion.  

[billyjoeallen]

There isn't enough fiat on Stamp to sustain this rally. The order book only shows about 13 mill right now. Sure there is some off book too. But not likely near what Gox had before the malleability issue. I remember ~40 mill on book. I bet 2-3x of that off book.

You said that at $515 too.

[Dragonkiller]

they've been subpoenaed this month. might have something to do with it, but the subpoena was probably a result of this and not the cause.

[Sitarow]

[Walsoraj]

There isn't enough fiat on Stamp to sustain this rally. The order book only shows about 13 mill right now. Sure there is some off book too. But not likely near what Gox had before the malleability issue. I remember ~40 mill on book. I bet 2-3x of that off book.

You said that at $515 too.

And I'm still correct.

[chriswilmer]

There isn't enough fiat on Stamp to sustain this rally. The order book only shows about 13 mill right now. Sure there is some off book too. But not likely near what Gox had before the malleability issue. I remember ~40 mill on book. I bet 2-3x of that off book.

You said that at $515 too.

And I'm still correct.

I liked it better when you talked about mega USD laser canons getting us into the Oort cloud.

[Walsoraj]

There isn't enough fiat on Stamp to sustain this rally. The order book only shows about 13 mill right now. Sure there is some off book too. But not likely near what Gox had before the malleability issue. I remember ~40 mill on book. I bet 2-3x of that off book.

You said that at $515 too.

And I'm still correct.

I liked it better when you talked about mega USD laser canons getting us into the Oort cloud.

That will continue when I decide to buy back in.

[HairyMaclairy]

There isn't enough fiat on Stamp to sustain this rally. The order book only shows about 13 mill right now. Sure there is some off book too. But not likely near what Gox had before the malleability issue. I remember ~40 mill on book. I bet 2-3x of that off book.

You said that at $515 too.

And I'm still correct.

And tomorrow when my wire I sent yesterday hits?   Along with everyone else?  And the whole of Coinbase that can't buy until 4pm EST on the 28th because CB ran out of coins again?

Ok.

[elasticband]

well picked up an exta 0.17 in that last drop, could have been more but oh well.

[billyjoeallen]

Feels good to be only 100% BTC again. Being levered long was a little stressful.

[jl2012]

I hate to bring this up with the stigma... but is it just me or is the volume on btcchina creeping up?

You mean Huobi? BTCChina barely has any volume..

No I mean BTCChina... look at the 12H chart... volume was basically silent for all of january... been creeping up over the last week or so.

They reduced the fee from 0.3% to 0.1%

[Franktank]

Mt. Gox receives subpoena from federal prosecutor

http://www.reuters.com/article/2014/02/26/mtgox-subpoena-idUSL3N0LV0UZ20140226

Feds getting involved, times are changing...

[creekbore]

This from rotters

http://www.reuters.com/article/2014/02/26/mtgox-subpoena-idUSL3N0LV0UZ20140226

Feb 25 (Reuters) - Bitcoin exchange Mt. Gox has received a subpoena from federal prosecutors in New York, the Wall Street Journal reported, citing a person familiar with the matter.

Mt. Gox, once the world's biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at "a turning point," sparking concerns about the future of the unregulated virtual currency.

The subpoena was sent this month and asked Mt. Gox to preserve certain documents among other things, the Journal said.

[Walsoraj]

http://www.businessinsider.com/report-mtgox-subpoenaed-by-us-prosecutor-2014-2

http://www.cnbc.com/id/101446338

Keeps getting better. Japanese authorities also looking into Gox.

[billyjoeallen]

I guess I'm a little slow letting the news sink in. If 744K coins are really missing, nobody is going to bail out Gox. it's just too much money and the coins would have to be purchased elsewhere, driving up the price further. MK is delusional in thinking he can fix this. Nobody will make his victims whole. The coins are likely unrecoverable and the reason he has been so obtuse is because the magnitude of his failure is overwhelming. I feel sorry for him now. There is no possible redemption. No apology will suffice, and the cops are coming. The statement of remorse I was looking for will come at the sentencing hearing.

The missing coins have likely already been spent into circulation or have disappeared forever along with their private keys. Wow.



so why is bitcoinwisdom showing price movement on Gox?

[Walsoraj]

Satoshi could bail out Gox.