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

[N12]

So.. its basically official that M.K. is just a complete and utter retard right?

Yes. Better he pay them out quickly before he "loses" them again.

[donut]

Just bought 1 btc at 574, time will tell if this is the bottom.

[Biro Bob]

Don't you just love online banking….

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[QuestionAuthority]

So.. its basically official that M.K. is just a complete and utter retard right?

Yes. Better he pay them out quickly before he "loses" them again.

If he had found them earlier he could have kept the scam going for another year. What an idiot.

[hodlmybtc]

Just bought 1 btc at 574, time will tell if this is the bottom.

I bought at 572, willing to buy more the coming days if price drops more

[QuestionAuthority]

Just bought 1 btc at 574, time will tell if this is the bottom.

I bought at 572, willing to buy more the coming days if price drops more

How many would you buy if the price went to one dollar?

[QuestionAuthority]

...
How many would you buy if the price went to one dollar?

Is that one of those zen questions, like 'if a tree falls in a forest with no one to hear it does it make a sound?'?

No, I can put a dollar amount on it. Everything in my bank account.

[hodlmybtc]

And probably as much as you could loan, kinda depending on the reason why it drops to one dollar ofcourse.

[jojo69]

Cant believe my eyes

in the front page of zerohedge

The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed

did they actually just say that bitcoin has been propping up the Nasdaq??  lolol

[rebuilder]

They don't, I have no idea how you just find a wallet with 200,000 BTC when others can see it on the blockchain etc. It suggest to me personally that the theories regarding lost keys or badly written key generating software are the most plausible.

I wouldnt be surprised to see a large part of the 850k slowly being 'found' what this does to the price however is anyone's guess

Remember that interview with Karpeles saying the bitcons weren't technically lost, just unavailable? Either gox are lying through their teeth or they had some seriously poor practices. I can't say which is more likely. I've found a few old wallets I'd forgotten about, and no amount of people pointng at the blockchain would have helped me remember where the private keys where. Then again, I have never been entrusted with hundreds of thousands of BTC of other people's money, so my laxness is somewhat more excusable.

[jl2012]

Cant believe my eyes

in the front page of zerohedge

The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed

did they actually just say that bitcoin has been propping up the Nasdaq??  lolol

trolling?

[damnek]

Cant believe my eyes

in the front page of zerohedge

The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed

did they actually just say that bitcoin has been propping up the Nasdaq??  lolol

trolling?

I also read "bitcoin" the first time I saw the article. Boy, I guess I'm addicted :p

[dreamspark]

They don't, I have no idea how you just find a wallet with 200,000 BTC when others can see it on the blockchain etc. It suggest to me personally that the theories regarding lost keys or badly written key generating software are the most plausible.

I wouldnt be surprised to see a large part of the 850k slowly being 'found' what this does to the price however is anyone's guess

Remember that interview with Karpeles saying the bitcons weren't technically lost, just unavailable? Either gox are lying through their teeth or they had some seriously poor practices. I can't say which is more likely. I've found a few old wallets I'd forgotten about, and no amount of people pointng at the blockchain would have helped me remember where the private keys where. Then again, I have never been entrusted with hundreds of thousands of BTC of other people's money, so my laxness is somewhat more excusable.

Well you hit the nail on the head really with the last statement messing about with your own holdings and loosing private keys to a few BTC is plausible but I bet you wouldn't forget where you put 200k

[sonofliberty]

CCMF?

[jojo69]

Cant believe my eyes

in the front page of zerohedge

The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed

did they actually just say that bitcoin has been propping up the Nasdaq??  lolol

trolling?

I also read "bitcoin" the first time I saw the article. Boy, I guess I'm addicted :p

OMG yep, I just did that...read Bi***** bubble and my brain filled in the field

lol

move along, nothing to see here /hangs head in shame

[aminorex]

Just bought 1 btc at 574, time will tell if this is the bottom.

I bought at 572, willing to buy more the coming days if price drops more

How many would you buy if the price went to one dollar?

For $1 BTC I think I could scrounge up about 300k without asking friends.  But it would be quicker just to ask friends.

[Adrian-x]

They don't, I have no idea how you just find a wallet with 200,000 BTC when others can see it on the blockchain etc. It suggest to me personally that the theories regarding lost keys or badly written key generating software are the most plausible.

I wouldnt be surprised to see a large part of the 850k slowly being 'found' what this does to the price however is anyone's guess

Remember that interview with Karpeles saying the bitcons weren't technically lost, just unavailable? Either gox are lying through their teeth or they had some seriously poor practices. I can't say which is more likely. I've found a few old wallets I'd forgotten about, and no amount of people pointng at the blockchain would have helped me remember where the private keys where. Then again, I have never been entrusted with hundreds of thousands of BTC of other people's money, so my laxness is somewhat more excusable.

I can still reconcile Karpeles saying the bitcons weren't technically lost, just unavailable? With the possibility he had cold storage wallets using N of M stored in a safty deposit box that has been seized  by law enforcement.

Remember Mizuho Bank (Gox's Bank)  is facing international pressure and bankruptcy for giving car loans to known drug dealers (nothing like HSBC) my bet is US law enforcement and a gag order related to a silk road investigation explains the unavailable nature of the "lost" coins.

[JayJuanGee]

Did anyone catch this quote from the mtgox statement.

“Taking into account the existence of the 200,000 BTC, the total number of bitcoins which have disappeared is therefore estimated to be approximately 650,000 BTC.”"

So.. its basically official that M.K. is just a complete and utter retard right? Who moves 200,000 BTC to verify they have control of bitcoin and then forgets that they exist. Does this ultimately point to the more likely possibility that M.K. just lost the private keys but had an old database backup that he eventually went and fished these 200,000 coins out of after the community pointed them out?

also... how does 850,000 missing vs 650,000 missing affect the markets?

They don't, I have no idea how you just find a wallet with 200,000 BTC when others can see it on the blockchain etc. It suggest to me personally that the theories regarding lost keys or badly written key generating software are the most plausible.

I wouldnt be surprised to see a large part of the 850k slowly being 'found' what this does to the price however is anyone's guess

I was thinking something like this would evolve also.  B/c even though it appears fairly likely, based on our current knowledge of the situation, that Mark was up to some incredible Shenanigans, he is likely realizing that he is in much bigger doo doo than he anticipated.  Surely, he has a large number of civil lawsuits, but worse, he has potential for major criminal prosecutions, too. Accordingly, b/c he values his freedom more than he values drinking cappuccinos, he is going to find more BTC and realize that those BTC were NOT stolen.. they were merely misplaced....

In the end, I will speculate (since this is the speculation thread) that GOX is going to find more than 60% of their previously lost/misplaced coins... which will be more than 500K found coins....

[delphic]

Did anyone catch this quote from the mtgox statement.

“Taking into account the existence of the 200,000 BTC, the total number of bitcoins which have disappeared is therefore estimated to be approximately 650,000 BTC.”"

So.. its basically official that M.K. is just a complete and utter retard right? Who moves 200,000 BTC to verify they have control of bitcoin and then forgets that they exist. Does this ultimately point to the more likely possibility that M.K. just lost the private keys but had an old database backup that he eventually went and fished these 200,000 coins out of after the community pointed them out?

also... how does 850,000 missing vs 650,000 missing affect the markets?

They don't, I have no idea how you just find a wallet with 200,000 BTC when others can see it on the blockchain etc. It suggest to me personally that the theories regarding lost keys or badly written key generating software are the most plausible.

I wouldnt be surprised to see a large part of the 850k slowly being 'found' what this does to the price however is anyone's guess

I was thinking something like this would evolve also.  B/c even though it appears fairly likely, based on our current knowledge of the situation, that Mark was up to some incredible Shenanigans, he is likely realizing that he is in much bigger doo doo than he anticipated.  Surely, he has a large number of civil lawsuits, but worse, he has potential for major criminal prosecutions, too. Accordingly, b/c he values his freedom more than he values drinking cappuccinos, he is going to find more BTC and realize that those BTC were NOT stolen.. they were merely misplaced....

In the end, I will speculate (since this is the speculation thread) that GOX is going to find more than 60% of their previously lost/misplaced coins... which will be more than 500K found coins....

...or maybe it is just part of Karpeles' game and people are supposed to be *grateful* that they have at least got some coins back, and swallow the story about the rest being lost.

I would not put anything past Karpeles now.

I think Karpeles' biggest problem might be that some of the BTC inevitably belonged to some very shady people (typically gentlemen short of a finger) who might want to take him for a car ride to discuss matters.

If I were Karpeles, I would not count on ever drawing a pension.

Just my two cents; I did not have any BTC or $ in Gox.

[JayJuanGee]

...
How many would you buy if the price went to one dollar?

Is that one of those zen questions, like 'if a tree falls in a forest with no one to hear it does it make a sound?'?

No, I can put a dollar amount on it. Everything in my bank account.

The same problem exists whether the BTC price is $1 or $580, no? 

The question would be whether the BTC price is going to go up or down.   

If the price of BTC were to go to $1, which seems super speculative at this point, some very serious shit would have to had taken place. 

Of course, if the BTC fundamentals remained the same as now, and the reason for the price dropping to $1 is merely b/c of some misinformation or some ill found rumors, then under those circumstances, an investor may well mortgage the farm and sell the first child in order to acquire as many BTC as possible.  Personally, under the second situation of bad information and the same fundamentals, I would have been buying all the way down from $580 to $1, so maybe I would NOT have any cash left by the time the price reached $1.