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

[fluidjax]

Nice buy on stamp. This train aint stopping for a day or so.

Generally it goes in so called "waves", which means that it will next hit 500. This enables the experienced traders to make money on the markets at the expense of the inexperienced.

Woot! RP's back , welcome
I know you came back briefly on the capitulation(?) but now I have time.

[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

[dreamspark]

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

[JorgeStolfi]

You seem to be forgetting that there were also a lot of fiat afloat at mtgox that was meant for BTC. BTC will lose that fiat, and probably any new fiat that would of came from those who owned it.

It's fun to see how everyone are trying to downplay the gox situation and are trying to make this look good.

Exactly.

Between Feb/6 and Feb/11 the price had a permanent drop by some 50--60, almost certainly due to news of MtGOX's troubles. (Feb/10 was the first disappointing press release IIRC.)  

I believe that the final demise of MtGOX did not have an immediate effect on price because speculators had been following the story and were expecting that event, so their reaction happened weeks ago (and it was negative).  

However, the headlines in mainstream media are going to scare away potential investors who might otherwise have joined the market.  As for the long-term investors (who own bitcoins but do not read the forums and may check the charts only now and then), some of them will decide to sell their coins and invest into something else.

[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.