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

[UnDerDoG81]

WTF just happened, 957 coins @535 in seconds sold  

[dreamspark]

Hmmm and I got flamed a few pages back for saying I think someones holding the price up and dumping at intervals...

[hdbuck]

http://www.scmp.com/business/banking-finance/article/1435890/mt-gox-exchange-shutdown-sparks-chinese-bitcoin-gold-rush

likely the buying starts in the next 3 hours or so. scalp the short, then fade it.

Do you have something to add to this article? It's from two days ago, and seems to be talking about the rebound from $400 (Bitstamp).

nah he's too good to argue about anything. being pretentious doesnt fill the matter he obviously lacks.

[derpinheimer]

WTF just happened, 957 coins @535 in seconds sold  

Someone sold a thousand coins, have you never seen that before? lol

[MelMan2002]

WTF just happened, 957 coins @535 in seconds sold  

Looks a lot like we might enter free fall soon..

[HairyMaclairy]

It's going down. I'm calling timber.

[zyk]

I bet Mark Karpeles is in jail by the end of the year. The Gox stolen coins was an inside job. Filing bankruptcy will only get people looking at this closer. He should have just ran with the coins to a country with no extradition.

He and cronies have gotten away with half a billion dollars.....when I tried to find a laywer in Japan in January

already they declined cause of a conflict of interest....the work out of this heist is planed for some time

already...he only need off-shore accounts but need not even move his ass with that much money to bribe the

system .

[zyk]

Hmmm and I got flamed a few pages back for saying I think someones holding the price up and dumping at intervals...

Who can it beeeee noooaauuw?

[UnDerDoG81]

Guess the bottom? I say 480´s

[Adrian-x]

money withdrawn.....who was the 10 k wall 3 hours before bitidiot came out ?

Can you even fathom the ramnifications of this selling? Come on ...we are here to speculate!

I'll bite and go with Peter Vessenes, my money says he is the first bitwhale to cash crash out.  

Why would it be only him doing this?

there are probably more sure, but he is an insider i can profile. most insiders are still long term bulls, and piecing this Gox debacle together in a way I can understand I think there is a chain reaction happening here where lots of old coins will be dumped by the first big wallets to fall making way for the new guard.

[slovenc]

Guess the bottom? I say 480´s

500

[hdbuck]

I bet Mark Karpeles is in jail by the end of the year. The Gox stolen coins was an inside job. Filing bankruptcy will only get people looking at this closer. He should have just ran with the coins to a country with no extradition.

He and cronies have gotten away with half a billion dollars.....when I tried to find a laywer in Japan in January

already they declined cause of a conflict of interest....the work out of this heist is planed for some time

already...he only need off-shore accounts but need not even move his ass with that much money to bribe the

system .

how much you loose in that Gox s**t hole?
sry for you pal, i guess you have learned the lesson the hard way 

[HairyMaclairy]

Guess the bottom? I say 480´s

Sentiment is weak. I'll go big and say retest 400.  

*disclaimer.  I have nfi.

[GreekGeek]

this will be more like the 2011 correction and less like the April 2013 correction

it willl take a long time for fresh money to poor back in to the system (if it does at all)

[Adrian-x]

this will be more like the 2011 correction and less like the April 2013 correction

it willl take a long time for fresh money to poor back in to the system (if it does at all)

if it corrects like 2011 that is good for Bitcoin fundamentalists, but it may not, depending what happens to the Gox's coins we could be in for a coin shortage, and the treat threatof impeding catastrophe.

[hdbuck]

this will be more like the 2011 correction and less like the April 2013 correction

it willl take a long time for fresh money to poor back in to the system (if it does at all)

if it corrects like 2011 that is good for Bitcoin fundamentalists, but it may not, depending what happens to the Gox's coins we could be in for a coin shortage, and the treat of impeding catastrophe.

i guees so but i also think the community is way more stronger then back in 2011. Plus alot of new businesses are being funded and starts to emerge and i dont think they'll give up that easily.

[UnDerDoG81]

So bottom was 535 

[tailor]

He and cronies have gotten away with half a billion dollars.....when I tried to find a laywer in Japan in January

I doubt there's been half a billion invested in BTC yet (i.e., most coins are mined and untraded). Price is based on relatively thin trading vs. the total number of coins in circulation, which means anyone trying to liquidate 850K coins, can't.

[Nicholas-Carraway]

this will be more like the 2011 correction and less like the April 2013 correction

it willl take a long time for fresh money to poor back in to the system (if it does at all)

if it corrects like 2011 that is good for Bitcoin fundamentalists, but it may not, depending what happens to the Gox's coins we could be in for a coin shortage, and the treat of impeding catastrophe.

Googler has no translation.  Please reconfigure.

[JayJuanGee]

Well, it better go down now. I've turned to fiat almost all I could.

What price are you banking on?  $520-ish?  or some other amount?

  

Frrom Bitcoinbuilder FAQ

As it got bigger though, I decided the only use I should have is to convert all the "real" BTC fees I earn into GOXBTC. The reasoning behind this is two-fold.. 1. I do think gox will be fine and it's a good investment, but also 2. if somehow they're not, I want to be in the same (sinking) boat with everybody else.

That is FUCKED up... he had NO hedging... apparently?   And, his business plan seem a bit, lacking?    Anyhow...   So how can you keep such a business going in the event that GOX is truly and totally insolvent in terms of the reimbursement of the investors' BTCs?

This doesn't make a lot of sense to me. Why would he want to go down with the ship when he was offering a fair service? He was giving people the opportunity to buy/sell the risk of Gox imploding where both sides knew what they were getting into.

Wants to show a loss for tax purposes maybe?

The ONLY explanation that I can think of is that HE was trying to appear as a GOOD and honest business man... in order that he would inspire investors to have confidence in him and that he was NOT just being a sheister..... ...

seems 530 to 600 is the new vol band.  probably be trading that range for a while

I predict 4-5 days at most in this range... then we are going to bust out... and be in the $750 to $850 range... ...  My prediction is based on pent-up demand for BTC...   and also based on the fact that we have largely found out enough facts about GOX in order to adequately understand the range of ramifications...

No you haven´t....who sold those 750000 BTC at Gox under 300 dollars and to which account were the

money withdrawn.....who was the 10 k wall 3 hours before bitidiot came out ?

Can you even fathom the ramnifications of this selling? Come on ...we are here to speculate!

Surely we are here to speculate... MY MAIN point is that we have been made A LOT more aware of what is going on... than we were one day ago... At least NOW we have a bankrupcy filing and an outline of facts and a general direction... before that, we were totally speculating on all kinds of scenarios...... surely, there can still be quite a few scenarios... but at least we are Narrowed down a little bit in the range of possibilities, no?