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

[akujin]

going down?

[windjc]

https://i.imgur.com/DO9mkoe.png

I think I like this one better:

That is f**king hilarious.

[oda.krell]

Slowly turning around?

If you use log for the trendlines, at least make all of them log, not just the ones that match your hopes.



(what looks like a straight line in this one is an exp trend as well, from April 2013 ATH to April 2014 bottom)

[rpietila]

So you never lost shit. You didn't even lose your computer. Yet, you came on the forum and announced that your bitcoin was stolen.

Now I try hard to minimize the risk to the well-being of anyone, and to raise the stakes in the game described as follows: if someone actually copied the private keys there (I had access to over 6000 bitcoins unencrypted, open in my computer browser windows during the time it was compromised), he will have to suffer the fact becoming public in its entirety + all the details, if he spends the bitcoins before I have the time to spend them myself. Due to extensive precautions involved, it will take me approximately a week of calendar time + several thousand dollars, to fully ensure that the bitcoins are safe, by sending them to uncompromised addresses. I plan to concentrate on that during this week.

(emphasis added)

Ok, idiot. Sorry for having so much long-suffering for you, ever since your infamous entrance to the forum a few months ago. Try to read and understand the bolded part and reason, what might have been the reason for the forum disclosure above in the midst of the action, without having the knowledge if keys were copied or not. HINT: it is in red.

You SHOULD try to please me. And the rest of us by being honest.

You are too stupid to be pleased. A fool and his bitcoins soon part. I just hope that you don't cause collateral damage to your loved ones in the process.

Ignored.

[elux]

Fuck. I should have listened when they told me Bitcoin was a pyramid scheme.

[inca]

Fuck. I should have listened when they told me Bitcoin was a pyramid scheme.

I appear to be firmly at the bottom of the pyramid but bitcoin has returned around %400 of my original investment.

[JorgeStolfi]

http://chinadigitaltimes.net/2014/05/minitrue-gao-yu-dispute-vietnam-bitcoin/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+chinadigitaltimes%2FbKzO+%28China+Digital+Times+%28CDT%29%29

more interesting is that China is probably afraid of bitcoin.

I hate censorship, but I must point out that reading that note as "China is afraid of bitcoin" is just wishful thinking.

That Summit looks like a marketing ploy for the Bitfund.pe investment fund.  If it is a repackaging of investing in bitcoin, like SMBIT and PBP, that fund is a terrible investment, which any country with a functioning SEC should prohibit.  (The Chinese exchanges apparently pulled out of that Summit some days ago.)

[N12]

I appear to be firmly at the bottom of the pyramid but bitcoin has returned around %400 of my original investment.

Yes, the author is either as much deluded as his bottom step or he is twisting reality so that it's funnier/deceptive. I don't think insider knowledge is as big an advantage as people make it out to be with regard to Bitcoin; it's extremely difficult to interpret news/events even if you know beforehand. Plus, it's doubtful that important political figures will bother trading Bitcoin. Neither does buy and hold necessarily lead to ruins. There's one case where I think insider knowledge is invaluable though, and that's if you are an exchange operator, at least if your exchange is one of the bigger (more stable in volume) ones.

Anyway, I think it's funny.

[T.Stuart]

I hate censorship, but I must point out that reading that note as "China is afraid of bitcoin" is just wishful thinking.

That's the great thing about it. They are banning it too quickly which will leave them with less control in the long term - thus the FUD is running out and in my opinion people will once again be taken by surprise at Bitcoin's resilience.

[mmitech]

http://www.reddit.com/r/BitcoinMarkets/comments/253p3r/daily_discussion_friday_may_09_2014/chdgyiu
https://i.imgur.com/AVPiH3a.png

the top should be satoshi...

[ChartBuddy]

Explanation

[EuroTrash]

But why exactly did the Chinese exchanges pull out of the bitcoin summit, and what is the real chance they shutdown without notice in the next days?

[p0peji]

But why exactly did the Chinese exchanges pull out of the bitcoin summit, and what is the real chance they shutdown without notice in the next days?

Shutdown without notice is not that high I think, the chance of a shutdown notice being published is very likely imo.

[shields]

The bottom should be the miners that can't do basic maths, or tell a speculation profit from a mining profit.

[boumalo]

The news - on coin desk and such - make it sound as if there is an international coalition of Mt. Gox. victims who thinks this taking over is best for them.

And as usual Coindesk is totally uncritical.

But perhaps a couple of biggest holders want to divide these 200,000 BTC among them, at the cost of smaller holders like you ...

Right.  According to some rumors, one of the largest accounts in the leaked MtGOX database was Mark's.  Will he get his share of the 200'000 too? (in a liquidation, the owners have the lowest priority.)  According to those rumors, other large accounts belonged to close friends of Mark.

By the way, no one knows who leaked that database and whether it is true.   It may have been doctored with the intent of stealing a large part of the remaining coins.

Suppose for example that the sum of all BTC account balances was actually 400'000, and the database was altered by adding another 400'000 to the accounts of certain clients, bringing the total to 800'000 BTC.  If the remaining 200 000 BTC were distributed according to the true database, each ordinary client would get 50% of his balance.  With the faked database, he will get only 25% of his balance, while those special clients would get to split 100'000 BTC that were never theirs.

The only hope to get the truth is through a police investigation.   If Sunlot takes over, no one will ever know what really happened inside MtGOX, and no one will know whether the payments (if any) were fair.

(I actually don't care about whether the clients will lose those 200'000 BTC too to "MtGOX 2.0", but like any sane person I get very upset when I learn that scammers and thieves got away, free and rich.)

OK, O probably did not phrase it well - but US court (based in Chicago, iirc) - agreed preliminarily to this proposal and lawyers representing some US customers joined with some lawyers representing "internationals" to try to convince Japanese courts.

Yeah, friends of Mark's hypothesis make sense - all simply well connected and very wealthy bitcoiners.  ASAIK the list is (mostly) legit, when it was published many people on reddit confirmed their holdings. But you are right that few accounts could have inflated amount of holding. And taking into account lack of any proper accounting at Gox - and them publicly admitting to processing transactions manually because it is faster - it is probably possible to fake such holdings. Although true computer experts - who would look at the date of making records, deleted data on drives etc should be able to figure out the truth. If they seized Gox computers in time, that is - before the crucial hard drives went physically missing...
[/quote]

I think there are ways to confirm that the accounts were not add up : history of trades and deposits

[JorgeStolfi]

http://www.reddit.com/r/BitcoinMarkets/comments/253p3r/daily_discussion_friday_may_09_2014/chdgyiu

Looks quite accurate as far as I know (I haven't looked much at reddit and other forums.).

I would add "investment fund managers" to the top tier.  And then there are the early adopters who have made or will make outrageous profits at the expense of the lower tiers, even if the price goes down to single digits.

[N12]

But why exactly did the Chinese exchanges pull out of the bitcoin summit, and what is the real chance they shutdown without notice in the next days?

Shutdown without notice is not that high I think, the chance of a shutdown notice being published is very likely imo.

With a deadline or two, of course!

[Mythul]

Best pyramid ever !

[dreamspark]

The early adopters who play the market come under whale and super whale. Being an early adopter with a significant stash goes hand in hand with knowing lots of the business owners.

[jl2012]

But why exactly did the Chinese exchanges pull out of the bitcoin summit, and what is the real chance they shutdown without notice in the next days?

Shutdown without notice is not that high I think, the chance of a shutdown notice being published is very likely imo.

With a deadline or two, of course!

The latest rumor is shutdown before 30 June