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

[delphic]

If the Bitstamp market could make a sound, it would probably sound like a balloon slowly deflating.

Not sure why. I would have thought that if the reaction is to twobitidiot's latest news, the implication is that the MtGox coins are gone or even destroyed, which would tend to be bullish for BTC.

[billyjoeallen]

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.

Dude, Gox was run into the ground. It was hollowed out completely. Karpeles didn't stop burning money until there was no more left to burn. It may take time to know the details or we may never know the details, but that doesn't change the relevant fact that Gox was bled dry. Denial is one of the stages of grief so it's ok, but acceptance is the last. See you there.

[HairyMaclairy]

Peak stuck transmissions from Gox: 70,000 BTC

http://coinsight.org/mtgox.html

Go to Mt Gox stuck transmission outputs, select all and look at 7 February.


That's where the coins went.  TX malleability.  You only needs to lose 70,000 coins ten times to lose everything.

[creekbore]

oh look a Unicorn!

"those unicorns..they is everywhere"

[derpinheimer]

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.

Dude, Gox was run into the ground. It was hollowed out completely. Karpeles didn't stop burning money until there was no more left to burn. It may take time to know the details or we may never know the details, but that doesn't change the relevant fact that Gox was bled dry. Denial is one of the stages of grief so it's ok, but acceptance is the last. See you there.

I can picture it.. shovels of dirty fiat being thrown into a furnace.

Every time he ran low, he just had to release some stupid press statement and cause a crash. Coffers refilled. GENIUS!!
Finally a month ago he had no choice but to do the desperate.. disable withdrawals. Dirty fiat poured in only long enough to run that PoS for another 2 weeks. LOL

[seleme]

lol have you guys read the replies here?

https://twitter.com/Sen_JoeManchin/status/438762073527705600

Yeah. Glad people are asking the important questions, such as if the Bitcoin ban would affect Dogecoin.

lol some of those replies are the funniest things i've read all day

lol  " you're a piece of shit"

&      "@Sen_JoeManchin @Rothbardian1627 that is funny because I just sent a letter recommending the banning of #Authoritarian #Senators"
     

thanks for pointing those out Dragonkiller, definitely good laughs there     

This one is champ

https://twitter.com/math_management/status/438858773822582784/photo/1

[FNG]

Haven't caught up with the thread so not sure if it's been said but over 10,000 people viewing /r/bitcoin and no threads are on the front page.

Huge

[billyjoeallen]

If the Bitstamp market could make a sound, it would probably sound like a balloon slowly deflating.

Not sure why. I would have thought that if the reaction is to twobitidiot's latest news, the implication is that the MtGox coins are gone, which would tend to be bullish for BTC.

I guess the market was expecting more than just an implication. To me, it's as clear as day, but people interpret things differently.

[meanig]

Haven't caught up with the thread so not sure if it's been said but over 10,000 people viewing /r/bitcoin and no threads are on the front page.

Huge

The press has been huge over the last couple of days. Even my old man asked me if my Bitcoin had crashed and don't be sad if you lost it all coz your health is your wealth etc

[arklan]

Haven't caught up with the thread so not sure if it's been said but over 10,000 people viewing /r/bitcoin and no threads are on the front page.

Huge

The press has been huge over the last couple of days. Even my old man asked me if my Bitcoin had crashed and don't be sad if you lost it all coz your health is your wealth etc

same - my sister asked me to explain it in laymans terms. heh.

[hdbuck]

Mark just stole the bitcoins.
He will never admit it (obviously)
There is nothing that can or will be done.
Believing there was a "mistake" or that the coins are "lost" is even more foolish.

Plz stop extrapolating and move on.

[Walsoraj]

What if the two most recent bubbles were entirely manufactured by Gox in attempts to raise enough capital to pay off its liabilities.* And if so, how long will current speculative last?

/tinfoil hat


*Please don't counter with "but China." Almost all activities on their exchanges are by american operated bots.

[arklan]

Mark just stole the bitcoins.
He will never admit it (obviously)
There is nothing that can or will be done.
Believing there was a "mistake" or that the coins are "lost" is even more foolish.

Plz stop extrapolating and move on.

well, if gox does end up claiming "lost private keys" somehow, this s easily proven by simply posting the public addresses. then if those coins ever move, he's caught in a lie. so, if he did steal them and says they were lost, then he couldn't ever spend them.

[KeyserSoze]

And I agree with some others here that if you have no bitcoin then why would your opinion even matter?

Jorge is just this decade's housewife testifying before the U.S. congress that playing a Led Zeppelin album backward produces Satanic lyrics. He's a dinosaur braying at meteors. He is scared and doesn't understand, so he lashes out blindly.

[hdbuck]

Mark just stole the bitcoins.
He will never admit it (obviously)
There is nothing that can or will be done.
Believing there was a "mistake" or that the coins are "lost" is even more foolish.

Plz stop extrapolating and move on.

well, if gox does end up claiming "lost private keys" somehow, this s easily proven by simply posting the public addresses. then if those coins ever move, he's caught in a lie. so, if he did steal them and says they were lost, then he couldn't ever spend them.

he is never going to clearly say they "lost private keys". at the very best you will get something like "the coins are irretrievable", which just means nothing.

edit: or something like he already told us about "coins being stolen because of malleability issue".. but hey, who could have done it that easily and at such scale? 

[billyjoeallen]

This is funny. Half the traders are expecting a crash and half are expecting a rocket ride so of course we're going sideways. But fiat is piling up on Stamp and it's only a matter of time before somebody blinks. 

[f4tal1ty]

What if the two most recent bubbles were entirely manufactured by Gox in attempts to raise enough capital to pay off its liabilities.* And if so, how long will current speculative last?

/tinfoil hat


*Please don't counter with "but China." Almost all activities on their exchanges are by american operated bots.

You cant break down the whole price development down to Gox speculation, the Bitcoin industry is so much more than Gox by now.

[derpinheimer]

What if the two most recent bubbles were entirely manufactured by Gox in attempts to raise enough capital to pay off its liabilities.* And if so, how long will current speculative last?

/tinfoil hat


*Please don't counter with "but China." Almost all activities on their exchanges are by american operated bots.

I wonder if that would be possible... When gox was 90%, if Mark just made a bunch of trades without proper funds, say.. buying millions of dollars of bitcoin... it could trigger the media attention needed to help fuel (but not sustain) it..

So maybe, we could be as high as we are thanks to Mr. Karpeles convincing the market this is the proper price.

/tinfoil hat

[BubbaGumpShrimpinBoatCapn]

What is a realistic target value right now before we see things level out?

[Walsoraj]

What if the two most recent bubbles were entirely manufactured by Gox in attempts to raise enough capital to pay off its liabilities.* And if so, how long will current speculative last?

/tinfoil hat


*Please don't counter with "but China." Almost all activities on their exchanges are by american operated bots.

You cant break down the whole price development down to Gox speculation, the Bitcoin industry is so much more than Gox by now.

Precisely what Mark wants you to believe. Stop drinking the koolaid.