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

[windjc]

nothings crazy is really occurring. its a natural reaction when a chicken cuts its own head off. that's all.

So does anyone know what the "news" actually is? Is it something actually "new?" Is it just rumor?

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

Actually, I just read the article. If this is true then all the exchanges in China might have to move offshore. China may have completely cut the head of the snake this time. If so, this could be the real capitulation (the practical elimination of China) we've all been waiting for. I will be looking for confirmation on this news and shorting (double downing) the hell out of the first real bounce.

[JayJuanGee]

Classic butthurt bull.

You bought at 486 and made no profit. I sold at 475 bought at 480. Sold at 492 and am banking.

Where is your EW "science" now?  God, no wonder so many people have you on ignore.

EW cannot predict news events.... it can tell when weasles like you are done bleeding though.

why don't you do me a favour, and ignore me too?

I think that Windjc values your opinion, even though, he is in denial.

I value peoples opinions that make robust cases. I asked Chessnut for this yesterday because his posts are so 1 dimensional. He and you just responded with insults.

Yes.  I believe that I saw your request for more specifics, and it seems to me that You are trying to ask Chessnut to be more specific than is necessary.  You have your theory and methodologies and he has his, and each of you have stated various aspects of your methodologies and thoughts- If there is a difference of opinion about the prediction, then what else needs to be said? 

O.k.  NO problem if you want to say, "I told you so," here or there, but in the end, it really does NOT matter so much.  You can go make your millions of dollars based on your vision, no problem. 

I have learned some concepts about attempting to read the market from both you and from Chessnut, and I take any of this discussion with a grain of salt b/c NO ONE, except for the whales really can consistently make large amounts of money in the short term on trading BTC when there is both whale and news manipulation... Likely that most of the money is going to be made by hedging long, rather than trading 

However, to each his own, and if you consistently make more than the average day trader, congratulations.... .. .and thanks for sharing any tips with the rest of us reading this thread.

 

[JorgeStolfi]

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

Didin't you hear? China jailed the CEO of Bitcoin, an banned the sale of alcohol to miners.

[Walsoraj]

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

Didin't you hear? China jailed the CEO of Bitcoin, an banned the sale of alcohol to miners.

Confirmed.

[windjc]

If this news is real, then I welcome it. I would love for China to leave the bitcoin game entirely (at least for a few years until they may be forced back into it). Then we can get some real capitulation, find real support in the market and slowly let bitcoin re-earn the respect of future investors. Then we can go off towards the moon again.

China's bitcoin run will be a short and historic one, full of happiness and sadness. Meanwhile, its time to end this ultimately toxic relationship.

[chessnut]

too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.

[KeyserSoze]

If this news is real, then I welcome it. I would love for China to leave the bitcoin game entirely (at least for a few years until they may be forced back into it). Then we can get some real capitulation, find real support in the market and slowly let bitcoin re-earn the respect of future investors. Then we can go off towards the moon again.

I believe I have gleaned from Jorge's posts that he may be able to help us get into Latin America strong. He can really drum up support at the University, perhaps by pacing around in front of the cafeteria wearing a Bitcoin sandwich board.

[y3804]

too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.

+1. Only Alipay has confirmed the news for now. Still more than two weeks for banks to confirm the news and cancel fiat withdrawal, etc... Until then this is hoax

[rpietila]

here's a question,

why doesn't this get more play around here?

http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/

this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,

I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.

Not that it is much of my business, but...

...why is there no discussion anywhere that the BTC given to Mt.Gox for safekeeping are not that company's assets, nor loans to it? They belong to the customers as customer property (or customer funds). In liquidation, the customer property is returned to its owner and not commingled with company assets nor used to pay its lawyers. If the guardian has failed with safekeeping so that a part of the property is stolen, the loss should be prorated, especially if there is no mention in TOS.

Actually it is my business (point: III). I decided to mention this once in every 500 posts.

[windjc]

too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.

+1. Only Alipay has confirmed the news for now. Still more than two weeks for banks to confirm the news and cancel fiat withdrawal, etc... Until then this is hoax

So, in other words, this is just the first of many large sell offs in China?

[JorgeStolfi]

I believe I have gleaned from Jorge's posts that he may be able to help us get into Latin America strong. He can really drum up support at the University, perhaps by pacing around in front of the cafeteria wearing a Bitcoin sandwich board.

I will ask Dilma to appoint me Minister of Bitcoin, and put the BCB (Central Blockchain of Brazil) under my authority.

If THAT news does not crash the price to zero, nothing will.

[windjc]

too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.

Possibly. But we should all keep in mind that Houbi is front running the other exchanges. They will catch up. There is no 480 without Houbi. And in fact, currently the gap is bearish.

[Davyd05]

Stamp stopped giving a fuck

[Cassius]

too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.

"HOLY CRAP CHINA HAS BANNED - oh no, wait a minute..."

[JorgeStolfi]

...why is there no discussion anywhere that the BTC given to Mt.Gox for safekeeping are not that company's assets, nor loans to it? They belong to the customers as customer property (or customer funds).

Is this interpretation confirmed by courts somewhere?

One possible complication is that bitcoins were virtually traded for dollars etc. inside MtGOX.  So if a client deposited 200$ when the BTC price was 10$, and traded traded traded until he had 50BTC and 600$ in his MtGOX's account -- are those 50BTC and 600$ his "property given to MrGOX for safekeeping", debts of MtGOX towards him, or just irrelevant numbers once displayed on a webpage?

[windjc]

Stamp stopped giving a fuck

Europe is asleep.

[shmadz]

here's a question,

why doesn't this get more play around here?

http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/

this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,

I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.

Not that it is much of my business, but...

...why is there no discussion anywhere that the BTC given to Mt.Gox for safekeeping are not that company's assets, nor loans to it? They belong to the customers as customer property (or customer funds). In liquidation, the customer property is returned to its owner and not commingled with company assets nor used to pay its lawyers. If the guardian has failed with safekeeping so that a part of the property is stolen, the loss should be prorated, especially if there is no mention in TOS.

Actually it is my business (point: III). I decided to mention this once in every 500 posts.

I agree with your interpretation of how the remaining assets of gox should be handled.

Unfortunately for the holders, my *limited* understanding of japan's bankruptcy protocols, they will first liquidate all holdings into a common asset (most likely japanese yen) and then distribute from there... It may take many years. Such is the pace of the legacy system.

Just an example how regulation only makes things worse.

this fight is only starting...

[Cassius]

Stamp stopped giving a fuck

Europe is asleep.

I wish. My son woke up early and I'm dividing my time between getting some work done, these boards and the Night Garden. Honestly I'm not sure which is more surreal sometimes.

[Davyd05]

Stamp stopped giving a fuck

Europe is asleep.

I wish. My son woke up early and I'm dividing my time between getting some work done, these boards and the Night Garden. Honestly I'm not sure which is more surreal sometimes.

and stamp is back on the reaction slide.. I gotta send money to the exchange tomorrow.. lowering average buy in price ..Is just a must..

found 1900 cash in trust to me, it was a mutual fund setup in 97' it peaked in 07-08' at like 2400...initial value was 1100... I mean 14 years to be up $800.. in a growth fund.. I think I'd rather give the 1800 14 years in cold storage as btc now.

[ShroomsKit]

Why does this ridiculous panic continue? Wth is wrong with these idiots!