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

[JorgeStolfi]

There will be a delay between the time when the coins bought on Huobi will be sold on BTC-E again.

Not sure, it seems that arbitrage traders are very quick; price movements at one exchange are copied over all exchanges within minutes if not seconds.  (They must be fast, else other arbitrage traders will steal their opportunities.)

[BitChick]

Hey guys, what is the reason for the ongoing bitcoin price decline?

rumors of Gox coming back

And now the rumors of China coming back.

Which is perfect for launching a new Bitcoin bubble when the dust settles!  

[spooderman]

What's strange to me is that there's really no news here. We already knew China wasn't outright banning BTC...yet.

How can you ban BTC?

Like how???

You mean knowledge of a certain set of digits is potentially illegal?

I mean we're getting to down to philosophical absolutes now thanks to bitcoin. It's make or break time for humanity. The grey area between libertarianism and authoritarianism is shrinking rapidly.

If you KNOW a string of data, and someone sends bitcoin to that piece of data, would that be illegal?

That's essentially what "owning" bitcoin is.

This needs its own thread, or more probably already has one.

Weren't people talking about border police demanding to know if people were "carrying" btc over the border, and wondering what is considered "carrying."

When making a paper wallet, I generated a private key. I picked a number our of the universe, and told the blockchain that there is where my unspent outputs should be moved to.

If bitcoin becomes "illegal" what happens? Am I supposed to forget the number? Send them to an address I don't own? In which case, what if someone maliciously sends me some more? What if the police send me more to incriminate me?

And we're where we are with drugs (the fun ones). Something that can be used to completely ruin a persons life. It's not like any other crime. Someone can just dump a bag of coke in your car and next time you're driving.....

[JorgeStolfi]

Is there some regulation in Bitcoin trading that prohibits [ insider trading ] (serious question)?

There is no regulation that prohibits the exchange owner from stealing the coins of all clients and blaming it on "hackers".  (Serious reply.)

Common property theft laws would apply in the latter case, but they are hard to enforce if the exchange is in a foreign country and the owners are anonymouous,  The laws against insider trading do not even apply, the exchanges are not registered or regulated as markets.

[Davyd05]

Is there some regulation in Bitcoin trading that prohibits [ insider trading ] (serious question)?

There is no regulation that prohibits the exchange owner from stealing the coins of all clients and blaming it on "hackers".  (Serious reply.)

Common property theft laws would apply in the latter case, but they are hard to enforce if the exchange is in a foreign country and the owners are anonymouous,  The laws against insider trading do not even apply, the exchanges are not registered or regulated as markets.

not in my country Jorge, keep spewing your FUD

[UnDerDoG81]

So, is 420 the new 650??

[JorgeStolfi]

not in my country Jorge, keep spewing your FUD

What country?

[CryptoFuture]

Live on C-Span right now "Bitcoin and the Future of Currency" http://www.c-span.org/live/?channel=c-span-2

[bitcoinsrus]

So, is 420 the new 650??

420 hasn't changed 

[Davyd05]

not in my country Jorge, keep spewing your FUD

What country?

Canada

Chose my exchange, cause the owner is transparent. And works with the government actively to remain with in compliance. My only momemt of anger was during the first panic's back in Dec the website was super slow but no such issues since improvements.

check out their video on the plans for the future this year. https://www.youtube.com/watch?v=1qETYr2EsiI

[ChartBuddy]

Explanation

[Davyd05]

What's strange to me is that there's really no news here. We already knew China wasn't outright banning BTC...yet.

How can you ban BTC?

Like how???

You mean knowledge of a certain set of digits is potentially illegal?

I mean we're getting to down to philosophical absolutes now thanks to bitcoin. It's make or break time for humanity. The grey area between libertarianism and authoritarianism is shrinking rapidly.

If you KNOW a string of data, and someone sends bitcoin to that piece of data, would that be illegal?

That's essentially what "owning" bitcoin is.

This needs its own thread, or more probably already has one.

Weren't people talking about border police demanding to know if people were "carrying" btc over the border, and wondering what is considered "carrying."

When making a paper wallet, I generated a private key. I picked a number our of the universe, and told the blockchain that there is where my unspent outputs should be moved to.

If bitcoin becomes "illegal" what happens? Am I supposed to forget the number? Send them to an address I don't own? In which case, what if someone maliciously sends me some more? What if the police send me more to incriminate me?

And we're where we are with drugs (the fun ones). Something that can be used to completely ruin a persons life. It's not like any other crime. Someone can just dump a bag of coke in your car and next time you're driving.....

https://www.youtube.com/watch?v=3wUmevUvqxs#t=1190 decent reasoning on why it wouldn't be overly regulated in to an out right ban.

[aminorex]

not in my country Jorge, keep spewing your FUD

What country?

Canada

Jorge has jumped the shark with rockets and bells on.  He is indistinguishable from any other bear troll trying to panic suckers to take their money.  Time to ignore.

[kresu]

What's strange to me is that there's really no news here. We already knew China wasn't outright banning BTC...yet.

Yea and bitcoin isn't a very attractive investment if the price isn't constantly rising. Won't happen with the ban on deposits. China has effectively banned bitcoin without banning bitcoin.

Lets just see how many coins the Chinese actually have when the deposits stop. Just because you cant deposit YEN into your account doesnt mean that you don't want BTC at all.

YEN = Japan

[JorgeStolfi]

What country?

Canada

OK so you must be referring to Cavirtex or some other Canadian exchange -- not to Bitstamp (Slovenia?), Bitfinex (Hong Kong), BTC-e (Bulgaria), or LakeBTC (Hong Kong?) -- which, last time I looked, accounted for almost all trade outside China. 

What are the Canadian regulations that apply to the bitcoin trading services of Cavirtex and other Canadian exchanges (apart from common laws, such as fraud, property theft, money laundering, etc.)? (Serious question.)

[p0peji]

Boring slow rise before weekend panic 

[spooderman]

[Davyd05]

What country?

Canada

OK so you must be referring to Cavirtex or some other Canadian exchange -- not to Bitstamp (Slovenia?), Bitfinex (Hong Kong), BTC-e (Bulgaria), or LakeBTC (Hong Kong?) -- which, last time I looked, accounted for almost all trade outside China.  

What are the Canadian regulations that apply to the bitcoin trading services of Cavirtex and other Canadian exchanges (apart from common laws, such as fraud, property theft, money laundering, etc.)? (Serious question.)

They pretty much have to adhere to the same regulation as banks, if not more. They' got their MSB license as well.

When the market wants more tightly regulated exchange they'll occur we already have the Winklevoss and Silbert funds which are just beginning. NY or Texas will probably launch a North American exchange that will foster growth due to many people not investing because of the arguments you pointed out with regulation abroad and other uncertainties.

More so generally the financial markets that claim to have regulation have enough loop holes that we have already got lots of Ponzis from the likes of Madoff to Merriman, taking peoples "safer" Fiat currency.

[sonofliberty]

[chilin_dude]

Bitstamp deleted the to the moon tweet.
http://www.reddit.com/r/Bitcoin/comments/22ry9p/bitcoin_believer_but_does_anyone_else_see_this/