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

[Solarstorm75]

The #1 newspaper in Germany for securities, stock exchange etc.
Mt. gox is in the headlines. An American citizen sues Mt. Gox
http://www.handelsblatt.com/

I would say Bitcoin never got such a media attention.

That's fine. I hope it prevents newbies entering the market at these conditions.

[Yololintian]

stamps going crazy

[JayJuanGee]

Guess the bottom? I say 480´s

When?  Over the weekend?  Saturday?

[mellowyellow]

Any publicity is good publicity.

I've had 3 people today ask if I can get hold of some bitcoins for them while they are cheap. I'm pretty surprised, I really didn't expect that, so now I'm expecting a rally as soon as funds hit the exchanges.

[zyk]

The #1 newspaper in Germany for securities, stock exchange etc.
Mt. gox is in the headlines. An American citizen sues Mt. Gox
http://www.handelsblatt.com/

I would say Bitcoin never got such a media attention.

That's fine. I hope it prevents newbies entering the market at these conditions.

Yep as there is still no real world demand for its use..only for crooks fucking themselves over (which trading it at exchanges certainly is as well)..the price will crater.....but every time an abuse led to a loss for the delinquent it gained trust in mainstream and in the community as I can recall......prices rose !

be it pirateQ40 caught ,butterfly labs hosed, the silkroad closed and soon

Therefore it is absolutely necessary that Mt.Gox get scrutinized and those involved tared and feathered...
As I can see that this won´t happen as the early crooks are selling....bitcoin will be out till something to this aim is accomplished..

[Yololintian]

Looks like willie is starting to dump on stamp. Or some very similar bot.

[JorgeStolfi]

Seems, this hasn't been posted here yet, might be of interest:

http://www.thedailybeast.com/articles/2014/02/27/inside-japan-s-bitcoin-heist.html

One thing is certain: every information therein is either true, or false, or nonsensical, or some other thing.

To me it is obvious that many people are desperately trying to hide what really happened in MtGOX.  I will not believe any statement or document about MtGOX that that is not a police report resulting from a thorough criminal investigation.  To this I may give as much credence as the standard internet rumor.

[aminorex]

38.2% retracement seems to be holding, two tests.

[JayJuanGee]

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)

THAT's crazy-talk... there has been all kinds of new attention towards BTC....   within a week or two we are getting back into the $750 to $850 range.. and within 6-9 months we will be new all time high.. maybe even in the $1500 range..

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?

No !  The plug is pulled....no fresh flesh is coming when a ponzi dies......and if the crooks at the top come

out scot free of it...BTC dies as well !

I guess we have a differing view of things...

LOTS of doom and gloom that you seem to be expressing...

MtGox seems to have been a ponzi scheme.... I will concede that... . but NOT bitcoin... ... Also... there are much worse scandals in fiat that take place on a very regular basis... though of course this GOX situation will get a lot more press than those fiat scandals... .. anyhow, BTC is going to come out of this and it is going to continue to attract investors..... absent some extreme government measures... that undermine or delay the success of BTC...

[bitjoint]

We're going down bitchez

[Solarstorm75]

Any publicity is good publicity.

I've had 3 people today ask if I can get hold of some bitcoins for them while they are cheap. I'm pretty surprised, I really didn't expect that, so now I'm expecting a rally as soon as funds hit the exchanges.

I hope you told them, that they will be hodling a long time. Or are they day traders in the knowing of how to make profits from bear markets?

[Jasmin68k]

Seems, this hasn't been posted here yet, might be of interest:

http://www.thedailybeast.com/articles/2014/02/27/inside-japan-s-bitcoin-heist.html

One thing is certain: every information therein is either true, or false, or nonsensical, or some other thing.

To me it is obvious that many people are desperately trying to hide what really happened in MtGOX.  I will not believe any statement or document about MtGOX that that is not a police report resulting from a thorough criminal investigation.  To this I may give as much credence as the standard internet rumor.

Just posted it. Didn't mean to imply that the article is credible (or not).

[bitjoint]

It's a post-goxing period.. We'll need several months to recover.. meanwhile it is a good thing that will be thousands of startuppers building cool stuff... just give it time!

[Nicholas-Carraway]

We're going down bitchez

I'm rooting for the ultra-rare and powerful inverted (cone)head and shoulders pattern forming on the 4-hr to confirm the bear is indeed dead.

[JayJuanGee]

No sorry I sold them on BB to some another Pal who still believed in those "guarding" poeple at
bitcoinfoundation....but still BTC is worthless in the hand of crooks...you´ll see soon enough bottom 74
dollars !

we will see 74 USD/BTC  if the 2011 scenario plays out

but that is fine with me
2011 was my lucky year
especially after I jumped on to the train @ 3 USD/BTC

There is almost NO chance that the 2011 scenario will play out.  This is NOT 2011... Lot's has happened with BTC since 2011.. I will concede, that maybe, just maybe, we may make it into the lower $400s  - but only if some additional bad news drops...

Based on what we currently know, the furthest that we are going down would be upper $400s, and we may NOT even make it down that far - since there is quite a bit of pent-up desire to put money into BTC.

[porcupine87]

The #1 newspaper in Germany for securities, stock exchange etc.
Mt. gox is in the headlines. An American citizen sues Mt. Gox
http://www.handelsblatt.com/

I would say Bitcoin never got such a media attention.

That's fine. I hope it prevents newbies entering the market at these conditions.

Why? More people hear and learn about this coin. This can only be good. Long term. More people get aware of the coin. More people talk about this coin. This is good.

[porcupine87]

No sorry I sold them on BB to some another Pal who still believed in those "guarding" poeple at
bitcoinfoundation....but still BTC is worthless in the hand of crooks...you´ll see soon enough bottom 74
dollars !

we will see 74 USD/BTC  if the 2011 scenario plays out

but that is fine with me
2011 was my lucky year
especially after I jumped on to the train @ 3 USD/BTC

What was 2011? What has 2011 to do with 2014?

[Solarstorm75]

We are in a bull market, if you can honestly recommend your beloved grandma to invest her savings. Otherwise it's pure gambling and everybody should take the risk of losses.

[JayJuanGee]

Am i really the only one who is concerned that Bitcoin hasn't responded to ANY good news in MONTHS?
People dump every single time there is some bad news. Often it isn't even bad news but more like "i'm gonna panic sell in case it us bad news". We go lower and lower. Now we're at 570. There will be good news. Nobody will give a shit. They're all waiting for the next bad news so we can go lower again.
We would need to most amazing super positive news ever to stop this and i don't see this coming.

So give me one reason why we could go up again. I can't find any. I really can't.

Edit: how much longer will we be going down because of Gox. They are gone. Will it take us down for months to come? Can't people just get over it?

Maybe someone has been quietly liquidating 750k coins

I AM also thinking that the liquidating of BTC has been going on for months...

Last hope for Bitcoin: fake buywalls

THEY WON`T PROTECT YOU!!

Their only purpose is to lure suckers in to place their bids above them, when enough bids
have been built, we will get a level lower. slow and painful

There is no such thing as "fake" walls.    

Aren't walls always fake? If I've learned anything from my years in bitcoins, it's that all walls everywhere are fake.  

Walls are simultaneously fake and real, until observed. Then they become one or the other, depending on the testing conditions.

This is called Quantum Speculation. It's science, bro.

No its game - theory or called common sense...you are either with us or against us

I think that it is called leveraging what you have to your best advantage (to the advantage of yourself personally... and damn the rest)  There is no brotherhood... unless you form some kind of team/pool to accomplish an objective for the members on the team as a unit.

No..if the aim of bitcoincommunity is to collude to fuck the newbies and each other over...then BTC is no alternative as a currency its a chain-letter....if there is not the revolutionary common aim to enthrone the powers that be by forming a money-supply that is guarded by trust then we are dealing in sour lemons and
and the dollar kills on!

I agree with you about some common desires of the bitcoin community to change the way systems work... etc etc.. but those kinds of lofty goals do NOT need to apply to the concept of the exchanges... except maybe to the extent that there may be system put in place that only allows a certain amount of exchange at any one time or something like that... during the phase that BTC is less than a 100billion dollar market cap, it is going to be fairly easy to manipulate... even gold with a 6.5 trillion dollar market cap is manipulated... ...

You know the market is bearish when...

so true.  i just wish there were more honest bears, worthy of respect.  so often the "theses" of "bears" is fabricated, predicated on disinformation, or pure FUD.  it makes it very hard to find actual, useful, bearish analysis.  in fact, i have developed an unfortunate bullish myopia by being innoculated against strong bearish cases by the myriad of weak bearish cases.  i have to constantly correct for my own bull blinders.  

VERY well stated.... many of these bears are spreading disinformation and have their heads stuck up some asses.. maybe even their own...   Sometimes what is curious to me, is why they are hanging around these forums... just get out of bitcoin and go on your marry way... rather than educating guys who are more educated about bitcoin and/or other cryptos...  

NONETHELESS, I do NOT claim to be any expert... yet frequently I can tell when I am being hoodwinked...

lmao bud, without any disrespect i advice you to be very careful with whom you tend to believe in here. Being a bear doesnt necessarily means you dont believe in Bitcoin. Its a very harsh world that one of money and be sure they'll ever be heists and deception. Better be skeptical and pragmatic. If not realistic.

I have NO intention to take sides in some kind of internal or personal battle... I was merely in agreement with Aminorex... b/c I have run into very similar dynamics in other cryptocurrency discussions and also in other political discussions... I am NO spring chicken when it comes to these kinds of discussions.  

   Although an interesting thing that I find about bitcoin is some of the crossing of the political lines... so the dynamic remains interesting... even with my own exploration of my own beliefs... for example, I do NOT really have problem with government, except to the extent that it is manipulated by big money... yet there are a lot of libertarians in the bitcoin community... and ultimately lines cross and these matters remain complicated and contradictory.. ....

in case you've missed it...

Good night people!

This must mean that you are a bear... NO?  or that Bears are winning.. or some other crazy thing like that...   ?

[aminorex]

Grandmothers don't live long enough to invest in bitcoin except at the capitulation bottom or the last bear trap before the parabolic phase.  And they have to be very nimble even then.