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

[pinky]

[Translation from the Japanese]

March 2, 2014

To anyone concerned

Mark Karpeles
Representative Director
MtGox Co., Ltd.
Shibuya 2-11-5

Shibuya-ku, Tokyo

ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT OF A PROCEDURE OF CIVIL REHABILITATION

An overview of the situation should be published here shortly (probably on March 3, 2014 (Japan time)).

Contact information

A call center has been established to respond to all inquiries. The call center is planned to start on March 3, 2014. All inquiries to MtGox Co., Ltd. should be made to the following telephone number:

Telephone number +81 3-4588-3921
Working hours Monday to Friday 10am to 5pm (Japan time)

Please refrain from contacting the office of the supervisor/investigator.

Goxed again - only telephone number for 1 mil customers.

[isov]

Ok, decision made. When I get back home in a month and get to my good computer with decent internet, I'm going to start to do some trading also. Until now I have just bought and hold and tried to do my learning and now I feel I should be able to do it. Made some imaginary calls "now I sell" "now I buy" for awhile now and it seems more likely that I can make more btc than lose some in the long run. Let's see how it goes.

[HairyMaclairy]

Start out trading with millbits.  That way no one gets hurt and you have real data.  Also use an exchange with low fees.  Fees can kill your profitability. 

[isov]

Start out trading with millbits.  That way no one gets hurt and you have real data.

Yeah ofcourse! My whole stash is anyway smaller than 10btc atm so not going greedy right away. Planning to start it with 0.5-1btc deposit to exchange and see it from there. I have an account on btc-e but I guess I make an other one to bitstamp since it seems more easy to predict than btc-e with more bid/ask walls visible and so on. Also BS seems more trustworthy to me.

[isov]

But how are fees in stamp? Btc-e only has 0.2% so I guess it is quite low? Gox had something like 1% wich seems kinda high but it was a crappy company anyways...

[elasticband]

btc-e is 0.2%, so look for a margin of over 0.41% for sell/buy

Bitstamp has a tiered system based on trade volume, similar to gox had. I remember only one or two months back in January-April last year when i got my trade volume to the lower tiers on gox, without ever verifying the account  

FEE SCHEDULE
Fee %   30 days USD volume
0.50%   < $500
0.48%   < $1,000
0.46%   < $2,000
0.44%   < $4,000
0.42%   < $6,500
0.40%   < $10,000
0.38%   < $15,000
0.36%   < $20,000
0.34%   < $25,000
0.32%   < $37,500
0.30%   < $50,000
0.28%   < $62,500
0.26%   < $75,000
0.24%   < $100,000
0.22%   < $150,000
0.20%   > $150,000
FEE ROUNDING We kindly ask our users to take note on Bitstamp's policy regarding fee calculation. As our fees are calculated to two decimal places, all fees which might exceed this limitation are rounded up. The rounding up is executed in such a way, that the second decimal digit is always one digit value higher than it was before the rounding up. For example; a fee of 0.111 will be charged as 0.12.

[HairyMaclairy]

BFX is 0.15% and decreases from there to 0.1% for high volume.

[isov]

Is bitfinex fine to be used from Europe? I haven't investigated that one too much but it sounds good and they have nice looking depths in bids/asks, I don't like btc-e with that because usually they are so narrow. I'm anyway only going to deposit/withdraw btc and not fiat, just sell to usd when it dips and then buy back when low so it shouldn't matter where the exchange is based. It also should make my trading easier(?) I hear that I'm only interested in increasing my btc stash and don't care about fiat.

[jojo69]

the page count of this thread is the only true indicator of the fair value of a BTC

We're all good

[yrtrnc]

Trading is a game just like life, enjoy it for better or worse. While it lasts that is.

[johnny211]

Ok, decision made. When I get back home in a month and get to my good computer with decent internet, I'm going to start to do some trading also. Until now I have just bought and hold and tried to do my learning and now I feel I should be able to do it. Made some imaginary calls "now I sell" "now I buy" for awhile now and it seems more likely that I can make more btc than lose some in the long run. Let's see how it goes.

Start with tiny money and work yourself up, pretty much everyone is simply trading money for experience for quite some time.

[ChartBuddy]

Explanation

[HairyMaclairy]

Any exchange that is exposed to margin trading is probably more dangerous so BFX and BTCE are higher risk than Bitstamp.  And don't tell me BFX is safe because it's only peer to peer lending because the temptation for them to make up lender losses just to keep the lenders onside is just too high.

[mmitech]

Bitcoin you are boring me, please do something 

[yrtrnc]

Ok, decision made. When I get back home in a month and get to my good computer with decent internet, I'm going to start to do some trading also. Until now I have just bought and hold and tried to do my learning and now I feel I should be able to do it. Made some imaginary calls "now I sell" "now I buy" for awhile now and it seems more likely that I can make more btc than lose some in the long run. Let's see how it goes.

Start with tiny money and work yourself up, pretty much everyone is simply trading money for experience for quite some time.

Go all in

[fonzie]

Bitcoin phrase of 2014 : "PRICED IN"

[mmitech]

BTW volume is horribly low, you would expect people fighting over these "cheap prices" and rallying to buy while it is still "cheap"...

[Searing]

BTW volume is horribly low, you would expect people fighting over these "cheap prices" and rallying to buy while it is still "cheap"...

type in bitcoin china in google search I guess they are buying in at this price there

(hey just what I saw on a google search)

go figure

my 2c worth

Searing

[mmitech]

BTW volume is horribly low, you would expect people fighting over these "cheap prices" and rallying to buy while it is still "cheap"...

type in bitcoin china in google search I guess they are buying in at this price there

(hey just what I saw on a google search)

go figure

my 2c worth

Searing

I don't see any buying on exchanges.... I am watching charts like zombie but nope... look at the pic down 5 trades in the last 7 minutes !!! and they bearly make 1 BTC all together 







you would see crazy rally of people buying if the price was right....

[elasticband]

nothing biting on btc-e today... yesterday was much more fun.