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

[bitcoinvest]

Dear MtGox Customers,

As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Sincerely,
 Mark Karpeles

Its a start I guess

Yes that's indeed a turning point on PR  

Let's see!!

[FierceRadish]

Well, thank the stars he's still in Japan.

 

[bitcoinvest]

don't forget bad advertisment is still advertisment....

Like Aristotelis Onnasis used to say:

"Say and write whatever you want for me BUT write my name correctly.... "

[macsga]

don't forget bad advertisment is still advertisment....

Like Aristotelis Onnasis used to say:

"Say and write whatever you want for me BUT write my name correctly.... "

+1

[magicmexican]

Dear MtGox Customers,

As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Sincerely,
 Mark Karpeles

Its a start I guess

[tarmi]

yes, but FBI and japan's authorities doing investigations on mtgox - > you can kiss your funds goodbye.

also, only god knows what they will find there.



I agree with rpietila - this aint over yet.

[modrobert]

<MagicalTux> le gouv. US veut pas qu'on disclose hein

So all professional GOX bashers from USA in here, STFU until you have a revolution and get rid of your own corrupt gov.

Still think GOX downfall is good for Bitcoin?

Think again. If USA can keep GOX under siege, close down the trade engine, and issue gag orders for people involved; it can happen to any exchange still operating out there.

Despite all the pressure from USA organized crime cell that you call "government", Gox's biggest foe was its management. Mark has to TALK, he chose to f**k with his customers instead - as he always did. It would take just a little bit of PR to resolve things in much better way than that blue ball catasrophe of a CEO did. He deserves anything that comes to him.

Good riddance, I say. Hope we all learn the lessons and also that there won't be "the biggest exchange" again, taking market to the bottom with every crisis.

Read again, as MagicalTux mentioned in French,  it was a "gag order", that means no talking to customers.

EDIT (tinfoil edition):

To clarify, if you want a smear campaign to be successful it must be bad enough to make people accept change without questioning, in other words regulation. I think this operation was well executed, lots of people playing into their hands by bashing MtGox.

[600watt]

Dear MtGox Customers,

As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Sincerely,
 Mark Karpeles

well, an easy way to keep customers from asking tons of questions would be to give some answers. for example, an easy start would be answering: wtf happened & where are the funds ?

[Miz4r]

Over 21M USD on the bid side on Stamp right now, is that a new record? I feel like we could explode at any moment.

[macsga]

Over 21M USD on the bid side on Stamp right now, is that a new record? I feel like we could explode at any moment.

That could be true you know...

http://coinsight.org/bitstamp

[F-bernanke]

Where did all that dirty FIAT come from? we were around 15million the whole time, now 20+?

[Miz4r]

Where did all that dirty FIAT come from? we were around 15million the whole time, now 20+?

Former MtGox users who want to get back into the market? Not sure whether deposits clear that fast though, there might be a LOT more coming.

[ChartBuddy]

Explanation

[raid_n]

Where did all that dirty FIAT come from? we were around 15million the whole time, now 20+?

Former MtGox users who want to get back into the market? Not sure whether deposits clear that fast though, there might be a LOT more coming.

I think that a lot of new users were waiting for the bubble to pop and if this trend reversal holds long enough to restore some confidence we could see a nice upwards trend

[600watt]

Where did all that dirty FIAT come from? we were around 15million the whole time, now 20+?

Former MtGox users who want to get back into the market? Not sure whether deposits clear that fast though, there might be a LOT more coming.

I think that a lot of new users were waiting for the bubble to pop and if this trend reversal holds long enough to restore some confidence we could see a nice upwards trend

some of the people that i talked about bitcoin in the last year actually went in and invested some money. now, with the prices sliding down for months i was getting concerned that they would be critical/mad about itme - while in fact everyone of them goes like:

"wow, this price is coming down. if this continues i will be forced to ....

 BUY MORE."


severly infected with bitcoinitis 

[hannesnaude]

According to http://freakonomics.com/2014/02/25/what-does-the-mt-gox-meltdown-mean-for-bitcoin-maybe-not-much/ there will soon be a freakonomics podcast on bitcoin. Now they have an estimated 750 000 podcast listeners per episode (Some of it also goes out on public radio, not sure what the numbers there are). Now this is a factor ~14 less than the estimated viewership of The Good Wife, but the demographics are a great fit for bitcoin. Whereas the median age of a "The Good Wife" viewer is 60 the freakonomics listeners are

Our listeners are, in a nutshell: rather male (77%); relatively young (45% are 25-35 years old, another 24% are 35-44); well-educated (38% have a graduate degree; another 43% have a bachelor’s degree); and — according to the survey data at least — pretty well-off (17% earn more than $150,000 and another 23% earn between $100,000 and $150,000; then there are the 14% who earn between $0 and $30,000, most of whom are likely students).

Here is a graph showing the distribution of occupations


Also, they are obviously interested in economics and unlike the case in the Good wife episode, it will be clear from the context that Bitcoin is a real thing and not a figment of some scriptwriter's imagination.   

[kurious]

According to http://freakonomics.com/2014/02/25/what-does-the-mt-gox-meltdown-mean-for-bitcoin-maybe-not-much/ there will soon be a freakonomics podcast on bitcoin. Now they have an estimated 750 000 podcast listeners per episode (Some of it also goes out on public radio, not sure what the numbers there are). Now this is a factor ~14 less than the estimated viewership of The Good Wife, but the demographics are a great fit for bitcoin. Whereas the median age of a "The Good Wife" viewer is 60 the freakonomics listeners are

Our listeners are, in a nutshell: rather male (77%); relatively young (45% are 25-35 years old, another 24% are 35-44); well-educated (38% have a graduate degree; another 43% have a bachelor’s degree); and — according to the survey data at least — pretty well-off (17% earn more than $150,000 and another 23% earn between $100,000 and $150,000; then there are the 14% who earn between $0 and $30,000, most of whom are likely students).

Here is a graph showing the distribution of occupations


Also, they are obviously interested in economics and unlike the case in the Good wife episode, it will be clear from the context that Bitcoin is a real thing and not a figment of some scriptwriter's imagination.  

They tend to see things in a way what would seem to a layman to be contrary to the way it looks.

To anyone not 'in the know' Bitcoin is looking a bit disastrous right now.   But I think these guys will argue (rightly) the opposite may be the real truth.

EDIT: for clarity

[TERA]

Where did all that dirty FIAT come from? we were around 15million the whole time, now 20+?

Former MtGox users who want to get back into the market? Not sure whether deposits clear that fast though, there might be a LOT more coming.

No. The sudden fiat on stamp effect usually comes from bitfinex. When an investor/trader/short-cover/etc from bitfinex buys from a trader from bitstamp, the coins are removed from bitstamp and sent to bitfinex and the fiat is sent to the trader on bitstamp. The trader on bitstamp is then left with a bunch of fiat which is replaced on the order book to make his next bid and rebuy, hence there is more fiat on the book. So in essence bitfinex serves the purpose of accumulating coins away from and injecting fiat into bitstamp during these crashes. The sudden huge amount of fiat today could be attributed to massive short squeeze on bitfinex as bitcoin hit bottom and bounced 55%. Short interest on there was extended extremely high before this. Some of the whales accumulating in the 400s were probably Bitfinex also.

[kkaspar]

Ol' Gil is not worried, even if he bought in at 700$600$.
Ol' Gil sees that the price is going down very slowly, so it's not dangerous at all! Soon there will be an upwards wave and Ol' Gil will finally catch his big break with his bitcoin investments!

[kwest]

To anyone not 'in the know' Bitcoin is looking a bit disastrous right now.   But I think these guys will argue (rightly) the opposite may be the real truth.

EDIT: for clarity

I hope so.. I subscribe to Freakonomics, so I will be listening in for sure.