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

[JayJuanGee]

There is no use trying to convince me that bitcoin can survive more then couple of years, before it will get eaten by competition. To me it sounds like, when someone is the first to struck oil, and then no one else on earth will drill for oil any longer, because someone else already did it. Creating the perfect digital currency will soon be the holy grail to everyone who consider them to be geniuses at software engineering.

I CANNOT disagree with you, here.  It is very possible that there is going to be an improvement on bitcoin that will undermine bitcoin... but that is in the future.. and maybe even, as you say, two years or so.  At the moment... bitcoin is pretty damn good... and bitcoin is "the one" to invest into b/c it is the direction of the future.  However, if a better "one" comes along 6 months from now, one year, two years or even longer.. at that point, it is very possible that we could transfer our investment from bitcoin to that other "one."   Accordingly, what's the problem... Invest in bitcoin now, and when that other better one comes along, then move assets into that other better one...   NO problema.

waiting for more cheap coins  

When is this going to happen, and how low is it going to go... I would like some more too in the coming week or so... and then thereafter we can be on our moonward journey...

It amuses me whenever people think they will be able to 'transfer' investments from BTC into a new hypothetical coin.

Short of selling the BTC (which would implicitly  be devalued because of the new, better coin) and buying the new coin, how would that work?

Be amused all that you want... THESE kinds of transfers from one asset class to another happen all the time with various kinds of investment... some people will see the opportunity to transfer their assets early on and transfer and others will wait too long.. there is a lot of variability in what people will do and how they will invest and how they will predict the future..

 in the mean time, and currently today and seemingly in the next year at least,  BTC is the place to be... b/c we DO NOT know about another replacement crypto....   even some promising like Ethereum or another are NOT far enough along in order to take over BTC market share... which may come down the road, but NOT today...

[hdbuck]

edit: http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures

Where is the chapter where they explain how they'll slices him into pieces with a Katana ?

to be clear:

1/ The professionals are likely to operate with a primary goal of ensuring that the business continues as a going concern, so as to preserve jobs if at all possible. (wasnt that what Mark was doing?!)

2/ As a practical matter, cases are often advanced via private communications between court-appointed professionals, rather than via formal motions and court hearings. Indeed, the professionals themselves are routinely permitted ex parte communications with the court for purposes of shaping the direction of a case (as far as i can recall that was basically their way of communicating...)

3/ Court hearings tend to be rare. For instance, although a trustee requires court approval before taking several types of actions, the laws do not
condition that approval on the trustee having first provided creditors with notice and an opportunity to object.

4/ There is no official creditors’ committee appointed to protect creditor interests.

5/ As a result of the factors discussed above, a court supervised-restructuring in Japan tends to be far less transparent than in the United States

so as i claimed and reclaimed previously... Checkmate

[empowering]

edit: http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures

Where is the chapter where they explain how they'll slices him into pieces with a Katana ?

to be clear:

1/ The professionals are likely to operate with a primary goal of ensuring that the business continues as a going concern, so as to preserve jobs if at all possible. (wasnt that what Mark was doing?!)

2/ As a practical matter, cases are often advanced via private communications between court-appointed professionals, rather than via formal motions and court hearings. Indeed, the professionals themselves are routinely permitted ex parte communications with the court for purposes of shaping the direction of a case (as far as i can recall that was basically their way of communicating...)

3/ Court hearings tend to be rare. For instance, although a trustee requires court approval before taking several types of actions, the laws do not
condition that approval on the trustee having first provided creditors with notice and an opportunity to object.

4/ There is no official creditors’ committee appointed to protect creditor interests.

5/ As a result of the factors discussed above, a court supervised-restructuring in Japan tends to be far less transparent than in the United States

so as i claimed and reclaimed previously... Checkmate

plan b?


CHECKMATE

Edit: only kidding ... but how about "check...... over your shoulder mate"

[hdbuck]

Basically, Mark is going to walk free (at the very least in Japan), there is no recourses possible against him

However I suppose that he still may be prosecuted criminally if it is found that he did any fraudulent management,  such as withdrawing profits for himself while the company was insolvent, or faking technical problems to prevent withdrawals. Is there such crime in Japan?  Does the bankruptcy proces exclude it?

Good luck proving he got the coins or committed a crime regarding a "virtual" currency that isnt protected by any law worldwide... After all, isnt Bitcoin all about protecting anonymity anyway?
The guy's a fucking genius and owned big time every single person that were stupid enough to trust him whislt stashing their BTCs for an extended period on his plateform.

edit: @empowering

[aminorex]

Good luck proving he got the coins or committed a crime regarding a "virtual" currency that isnt protected by any law worldwide...

You're a liar.  Goodbye.

[cbutters]

Its literally tiptoeing up to the long term trend line.... it needs to break through it..... I'm breaking out the popcorn...

[Walsoraj]

hah well, unemployed, in foreign country, and today I understand that a lose almost $10000 dollars.. now drinking a heineken while reading tons of crazy theories about how mtgox could lose all those btcs.

damn x)

Only one thing left to do. Take whatever remaining money you have, or can get, and put it on Bitstamp. No way can you lose. This is bitcoin. 1000% returns guaranteed if you hodl.

[hdbuck]

Good luck proving he got the coins or committed a crime regarding a "virtual" currency that isnt protected by any law worldwide...

You're a liar.  Goodbye.

WTF?!

Oh yeah sorry i am complete dishonest person that is taking advantage of lying about a subject that hasnt even affected me since i stayed the fuck away from Gox and Mark is the victim here...

I suppose he was just an kind idiot that flew to Japan because he loves eating sushies, that 850k coins just disappeared without any other explanations than a flaw in Bitcoin's protocol and that the person in charge of validating all the code added to the platform didn't saw that coming...

Fool.

[aminorex]

You're a liar.  Goodbye.

WTF?!

a "virtual" currency that isnt protected by any law worldwide...

That's a lie.

[Peter R]

Totally off topic, but I had to share this image from the official US Department of Health and Human Services Facebook page as I couldn't believe my eyes.  

https://www.facebook.com/HHS/photos/a.577318915631772.1073741828.573990992631231/711923322171330/?type=1

[cbutters]

Totally off topic, but I had to share this image from the official US Department of Health and Human Services Facebook page as I couldn't believe my eyes.  

https://www.facebook.com/HHS/photos/a.577318915631772.1073741828.573990992631231/711923322171330/?type=1

Mother of Shit....

I'm glad I've speculated on dogecoin.... this might blow the price through the roof.

[Peter R]

Mother of Shit....

I'm glad I've speculated on dogecoin.... this might blow the price through the roof.

Or it could mark the beginning of the end--the point when the meme was no longer funny. 

[podyx]

Totally off topic, but I had to share this image from the official US Department of Health and Human Services Facebook page as I couldn't believe my eyes.  

https://www.facebook.com/HHS/photos/a.577318915631772.1073741828.573990992631231/711923322171330/?type=1

Mother of Shit....

I'm glad I've speculated on dogecoin.... this might blow the price through the roof.

what does this have to do with dogecoin?

[hdbuck]

You're a liar.  Goodbye.

WTF?!

a "virtual" currency that isnt protected by any law worldwide...

That's a lie.

Has any bitcoin theft had at least been recognized by any court worldwide if not condemned so far? if so, please let me know and i'll immediately apologize for making such mistake.

edit: if it was the "virtual" that bugs you off, i was just implying that bitcoin doesnt exist legally. hence no recourse possible when being robbed... (yet?)

[adsdas]

https://i.imgur.com/OJnxL5u.jpg

[ChartBuddy]

Explanation

[Richy_T]

I have told about the needed features countless times already, but I'll repeat myself again, what I see that needs fixing but isn't adressed with bitcoin: a) Speed of increasing wealth concentration b) Deflationary system that prohibits price stability c) Inefficiency of mining where new resources are spent while the network doesn't gain in speed or security.

a) nonissue. Just plain jealousy.
b) feature not a bug
c) mining for fresh bitcoins is not forever. When transaction fees dominate, mining will adjust appropriately.

[JayJuanGee]

remember that 10k whale on stamp jsut before gox went offline? things will get dirty sooner or later.

has he bought back in yet?

The amateurish way those coins were dumped suggest he didn't. Whoever got those BTC near $400 knew exactly what they were doing. I expect the 10K whale to get back in ABOVE his dump price.

Yeah.. that was 10K sold at $579... and he would have had plenty of opportunities to buy back over the last couple of days for $550 or less... or even in the lower $500s.. for a while... ... but would have anyone noticed?  .. it would be difficult to buy in that quantity of 10K in one shot... or in big increments...

remember that 10k whale on stamp jsut before gox went offline? things will get dirty sooner or later.

has he bought back in yet?

The amateurish way those coins were dumped suggest he didn't. Whoever got those BTC near $400 knew exactly what they were doing. I expect the 10K whale to get back in ABOVE his dump price.

YEAH RIGHT.... There was insider trading going on there... and he is back in ... HE is NOT so stupid as to wait....   That's ridiculous...



EDIT::::: I reconsidered my post... and... it is possible that if the BTC were stolen.. then the guy would go back in above $579 in order to camloflage... the situation a bit... ... so .. ..  I retract the ridiculous portion of my earlier response.

[Richy_T]

Go read any news article and check the comments on it. "I knew it was a scam" "Get rich quick fail" basically this re-assured everyone bitcoin was a scam.

Just like last April.

[ChrisML]

Totally off topic, but I had to share this image from the official US Department of Health and Human Services Facebook page as I couldn't believe my eyes.  

https://www.facebook.com/HHS/photos/a.577318915631772.1073741828.573990992631231/711923322171330/?type=1

Mother of Shit....

I'm glad I've speculated on dogecoin.... this might blow the price through the roof.

what does this have to do with dogecoin?

LMFAO.

I've been a Dogecoin fan, just cause it's awesome. But this... hahaha. If prices rocket I'm sodl my 2 million doges within a heartbeat