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

[derpinheimer]

http://www.reddit.com/r/Bitcoin/comments/1z1mmz/breaking_full_mt_gox_story_coming/

same guy that provided the gox report and broke the fortress fund news

Are you on his mailing list? The link to get on it seems to be down. Those who know of this news before hand will have a huge advantage

http://eepurl.com/JgGy5

No I'm not. I don't really think it's going to move the markets, whatever he comes out with. In fact, he had previously suggested he thought other companies such as Blockchain, SecondMarket etc were involved in the cover-up. The fact that he is now saying Gox acted alone is a positive.

Well, I am not one to predict the future, but I think that the market will react aggressively if there is any hint of the coins still being around and not lost as per the previous document and current speculation. If this is the case, that only means one thing for market prices.

Regardless of what comes out though, it will be an interesting read none-the-less.

P.S. Having listened to the interview http://letstalkbitcoin.com/e87-the-captive-and-the-mountain/#.Uw6aWoV_e_w, I trust 2bitIdiots releases.

The guy is an asshole and clearly wants to be effecting the markets, not helping anyone. Hyping up his release. What a loser.

[Dragonkiller]

http://www.reddit.com/r/Bitcoin/comments/1z1mmz/breaking_full_mt_gox_story_coming/

same guy that provided the gox report and broke the fortress fund news

Are you on his mailing list? The link to get on it seems to be down. Those who know of this news before hand will have a huge advantage

http://eepurl.com/JgGy5

No I'm not. I don't really think it's going to move the markets, whatever he comes out with. In fact, he had previously suggested he thought other companies such as Blockchain, SecondMarket etc were involved in the cover-up. The fact that he is now saying Gox acted alone is a positive.

Well, I am not one to predict the future, but I think that the market will react aggressively if there is any hint of the coins still being around and not lost as per the previous document and current speculation. If this is the case, that only means one thing for market prices.

Regardless of what comes out though, it will be an interesting read none-the-less.

P.S. Having listened to the interview http://letstalkbitcoin.com/e87-the-captive-and-the-mountain/#.Uw6aWoV_e_w, I trust 2bitIdiots releases.

The guy is an asshole and clearly wants to be effecting the markets, not helping anyone. Hyping up his release. What a loser.

+1 I think he is trying to build a reputation 

[Walsoraj]

http://www.reddit.com/r/Bitcoin/comments/1z1mmz/breaking_full_mt_gox_story_coming/

One more crash after the full Gox story is revealed.

THEN WE ARE GOING TO THE MOON! OORT CLOUD!

[billyjoeallen]

See there is no "rescue" because the rescuers wanted access to cheap coins or easy profits. One look at the books told them there were no profits or coins and they bailed. That "crises report" reeked of amateurish under-capitalized opportunism. It was so unprofessional that I thought it was fake.

[transit]

I see trend reversal  

on anxbtc.com was already 688 USD

bitstamp about to break 600 USD.

[Dragonkiller]

http://www.reddit.com/r/Bitcoin/comments/1z1mmz/breaking_full_mt_gox_story_coming/

same guy that provided the gox report and broke the fortress fund news

Are you on his mailing list? The link to get on it seems to be down. Those who know of this news before hand will have a huge advantage

http://eepurl.com/JgGy5

No I'm not. I don't really think it's going to move the markets, whatever he comes out with. In fact, he had previously suggested he thought other companies such as Blockchain, SecondMarket etc were involved in the cover-up. The fact that he is now saying Gox acted alone is a positive.

Well, I am not one to predict the future, but I think that the market will react aggressively if there is any hint of the coins still being around and not lost as per the previous document and current speculation. If this is the case, that only means one thing for market prices.

Regardless of what comes out though, it will be an interesting read none-the-less.

P.S. Having listened to the interview http://letstalkbitcoin.com/e87-the-captive-and-the-mountain/#.Uw6aWoV_e_w, I trust 2bitIdiots releases.

Current speculation is that they exist (they are stolen but they still exist). A minority believe the private keys have been lost (in which case they are truly lost and this is super bullish).

Edit: Almost certainly it is one of these two. I highly doubt Gox has the coins.

[JayJuanGee]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

Senator Wants to Ban Bitcoin for Being 'Disruptive to Our Economy'
http://mashable.com/2014/02/26/senator-manchin-bitcoin-ban/

Maybe, someone should send him a link to this:
http://en.wikipedia.org/wiki/Disruptive_innovation

Bitcoin is as disruptive to the current banking system like digital cameras to analogue cameras. Or like the e-mail to the mail.
-> Yeah, let's ban it.

The market has not reacted to this. I don't think this guy has any chance. Bitcoin will not be banned in the US. But regulated? Highly possible.

Even if the legislation itself is NOT successful... the mere introduction of such could be a leveraging point to begin a dialogue concerning perceived threats and/or "problems" with bitcoin and/or other crypto currencies.

[deadfi$h]

See there is no "rescue" because the rescuers wanted access to cheap coins or easy profits. One look at the books told them there were no profits or coins and they bailed. That "crises report" reeked of amateurish under-capitalized opportunism. It was so unprofessional that I thought it was fake.

Same here. I immediately thought the thing was a fake and the whole way that the two bit idiot guy released it felt like BS.

The initial story was him pulling quotes out of document like "Mt. Gox deserves to go bankrupt" which seemed super unprofessional to me. And then he finally releases the full document and it has easily erasable PDF highlighter covering up the profit/loss numbers on one of the pages. It seemed pretty off to me.

[Walsoraj]

Current speculation is that they exist (they are stolen but they still exist). A minority believe the private keys have been lost (in which case they are truly lost and this is super bullish).

Edit: Almost certainly it is one of these two. I highly doubt Gox has the coins.

The third most popular theory is that Mark spent everyone's funds on frappuccinos.

[delphic]

Current speculation is that they exist (they are stolen but they still exist). A minority believe the private keys have been lost (in which case they are truly lost and this is super bullish).

Edit: Almost certainly it is one of these two. I highly doubt Gox has the coins.

The third most popular theory is that Mark spent everyone's funds on frappuccinos.

I bet he spent them all on Magic:The Gathering cards.

[virtualfaqs]

Current speculation is that they exist (they are stolen but they still exist). A minority believe the private keys have been lost (in which case they are truly lost and this is super bullish).

Edit: Almost certainly it is one of these two. I highly doubt Gox has the coins.

The third most popular theory is that Mark spent everyone's funds on frappuccinos.

I bet he spent them all on Magic:The Gathering cards.

Those have been a pretty good investment.

[JayJuanGee]

Those funds are no more. They have has ceased to be. They have expired and gone to meet Satoshi. They are late funds. They are vapor. Bereft of existence, they rest in peace. If Karpeles hadn't left them on the balance sheet, they would've been written off ages ago. They've rung down the curtain and joined the choir invisible. They are ex-funds.

They are not gone, just pining for the blockchain...
Beautiful funds, those bitcoins.

This whole matter is far from being concluded... there is a lot of sorting that still NEEDS to be done.  I am sure that we DO NOT know the half of the financial situation of Mt. Gox and the extent to which it may be feasible to either reopen or to reimburse customers.... these details are going to be worked out in the coming weeks.. and maybe months.

[Arcas]

Current speculation is that they exist (they are stolen but they still exist). A minority believe the private keys have been lost (in which case they are truly lost and this is super bullish).

Edit: Almost certainly it is one of these two. I highly doubt Gox has the coins.

The third most popular theory is that Mark spent everyone's funds on frappuccinos.

In related news,


Coincidence? I think not!

[derpinheimer]

Edit: Due to some angry Gox depositors, I've been advised to disclose that Karpeles was overstating the fact that he had "lined up" investors. The truth is, in a move of desperation, Mark asked several investors for a bailout, all of which seemed to have immediately notified the authorities once they learned the extent of the fraud, negligence or incompetence at Mt. Gox.

That is to say, my leak did NOT cost depositors their investments. There was no chance of a bailout. Please direct your anger at Mt. Gox, and please do not blame me for your losses. Even if you disagree with my reporting, there was nothing to gain by continuing to cover this up, but much prolonged agony for Bitcoin and perhaps additional damage for new depositors.

Thank you for your support and understanding.

That was what he hyped up?? Really?

[delphic]

Seriously, my guess is that Mt.Gox leaked a relatively small number of BTC over months due to TXID malleability and it's lame code, refunding people for BTC allegedly 'lost' in transactions which weren't actually lost at all.

Then when Mark goes to top up the hot wallet from BTC in cold storage, he discovers his second fuckup. He can't retrieve the coins in cold storage because there is a problem with the wallet/keys. Ooops.

The coins are probably there on the blockchain, stuck forever. That is why he can't even sign them to prove they are under Mt.Gox's control. They aren't.

[Walsoraj]

Edit: Due to some angry Gox depositors, I've been advised to disclose that Karpeles was overstating the fact that he had "lined up" investors. The truth is, in a move of desperation, Mark asked several investors for a bailout, all of which seemed to have immediately notified the authorities once they learned the extent of the fraud, negligence or incompetence at Mt. Gox.

That is to say, my leak did NOT cost depositors their investments. There was no chance of a bailout. Please direct your anger at Mt. Gox, and please do not blame me for your losses. Even if you disagree with my reporting, there was nothing to gain by continuing to cover this up, but much prolonged agony for Bitcoin and perhaps additional damage for new depositors.

Thank you for your support and understanding.

That was what he hyped up?? Really?

LAMEEEEEEEEEEEEEEE

[Dragonkiller]

Those funds are no more. They have has ceased to be. They have expired and gone to meet Satoshi. They are late funds. They are vapor. Bereft of existence, they rest in peace. If Karpeles hadn't left them on the balance sheet, they would've been written off ages ago. They've rung down the curtain and joined the choir invisible. They are ex-funds.

They are not gone, just pining for the blockchain...
Beautiful funds, those bitcoins.

This whole matter is far from being concluded... there is a lot of sorting that still NEEDS to be done.  I am sure that we DO NOT know the half of the financial situation of Mt. Gox and the extent to which it may be feasible to either reopen or to reimburse customers.... these details are going to be worked out in the coming weeks.. and maybe months.

The customers will never get their funds and there was never any possibility of that happening. There were no buyers:

http://two-bit-idiot.tumblr.com/post/77967162725/breaking-full-mt-gox-story-coming

[Walsoraj]

^ bad news, but I don't think it will flash crash us back down to $400. Oh well.

[Dragonkiller]

Seriously, my guess is that Mt.Gox leaked a relatively small number of BTC over months due to TXID malleability and it's lame code, refunding people for BTC allegedly 'lost' in transactions which weren't actually lost at all.

Then when Mark goes to top up the hot wallet from BTC in cold storage, he discovers his second fuckup. He can't retrieve the coins in cold storage because there is a problem with the wallet/keys. Ooops.

The coins are probably there on the blockchain, stuck forever. That is why he can't even sign them to prove they are under Mt.Gox's control. They aren't.

Pretty much. I think he has lost the keys. No more than a small amount (if any) has been stolen due to the malleability issue.

[empowering]

oh look a Unicorn!