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

[ihaveaquestion]

Funny, since the rally began, the price stops increasing for a few hours, every day, around 03:00 am China time.   How weird.

If you could understand that nobody here believes your China theory and nobody cares about your sensless "proofs", that would be great. Just accept that both Chinese and Westerners have bought some bitcoins lately and it is a global phenomenon, yet still in its infancy. The sooner you acknowledge this, the better for everybody, including yourself.

[dreamspark]

Because Andreas also vouched for Neo & Bee...

Andreas disagrees with you.

"During that call I explained that I could only be involved as a technical advisor and that due to my limited time I could not endorse N&B with investors or take on a director position that would involve fiduciary or oversight responsibilities."

"I had no insight into finances, no oversight, no involvement in marketing or investor meetings, no contact with customers, investors or regulators. "

http://antonopoulos.com/2014/04/18/neo-bee-a-statement-by-andreas-m-antonopoulos-a-consultants-perspective/

In what sense did he vouch for them more than this is an interesting company that could be big and be a viable and valuable business? In what sense did he vouch for them more than any other employee who didn't know the particular finances?

[JorgeStolfi]

If you could understand that nobody here believes your China theory and nobody cares about your sensless "proofs", that would be great. Just accept that both Chinese and Westerners have bought some bitcoins lately and it is a global phenomenon, yet still in its infancy. The sooner you acknowledge this, the better for everybody, including yourself.

Whoa, no reason to be upset.  It is only your money that is in the game, not mine.

[rpietila]

even if you are a large, old and successful business, you don't mess with the US government. Pokerstars is a billion dollar business but still not legit in USA, and Bitstamp could totally have its Black Friday considering that legit US exchanges are about to open and they are an "unfair" competitor.

Yes, why would anybody mess up with the entity that has more firepower than the rest of the world combined..

But wait a minute, they must be very unbelievably scared of us. How else would they need so many weapons. I don't have any, because I am right.

[dreamspark]

Ehm.. Sorry. Find it very hard to believe. Especially the sum of $200 which doesn't make sense at all. I've been trading with around $100k the last year and passed the questionaire with very short answers. If they would ask for real proofs (screenshots, contracts, bitcoin addresses etc), it would be all over Bitcointalk, reddit.

Also, all "Bitstamp questionaire threads" I've seen have never included the word PROOF. Only Bitfinex. I am pretty sure the guy who posted that misread the whole questionaire..

Lol, why would they even bother to ask about proof for $200?

Maybe its just starting to be on Bitcointalk and reddit because they've only just started doing it.

If it wasn't true don't you think Hazek would have rubbished it being as it was in his Bitstamp thread and he replied to someone else after the guy was saying they were asking for proof.

Well I know the guy so next time he's online perhaps he will agree to send me a screen shot to prove it and we can continue the discussion there.

The $200 is an arbitrary figure and it seems it's not the amount but a certain threshold.

[dreamspark]

[snip]

Jeeez. As in they've just started asking for proof.

I know they have started asking general KYC/AML questions I have also said upthread that general questions are fine and necessary. This whole conversation is about the proof part not the questionnaire.

I ask again then

If it wasn't true don't you think Hazek would have rubbished it being as it was in his Bitstamp thread and he replied to someone else after the guy was saying they were asking for proof.

There's no need to tell me to relax I'm fine thanks. Obviously $200 isn't a threshold itself that would be asinine. Clearly the $200 triggered some overall threshold.

Anyway your not going to prove your point by just saying they've been asking questions for ages. We know that.

[N12]

Are you saying OP faked the whole conversation from his thread, where they demand all sorts of crazy proof? http://www.reddit.com/r/Bitcoin/comments/26apno/bitstamp_will_not_process_withdrawal_unless_you/

If it was so, then it would be easy enough for Bitstamp to say he's a liar. I doubt he is.

[ChartBuddy]

Explanation

[dreamspark]

Are you saying OP faked the whole conversation from his thread, where they demand all sorts of crazy proof? http://www.reddit.com/r/Bitcoin/comments/26apno/bitstamp_will_not_process_withdrawal_unless_you/

If it was so, then it would be easy enough for Bitstamp to say he's a liar. I doubt he is.

Thankyou, some people just can't see whats in front of them. The reasons are unbeknown to me unless this guy has some sort of vested interest.

[ihaveaquestion]

Besides, giving this questionnaire at random times to random clients but preferably the most important ones, is the typical first behaviour of an insolvent company. IF they have a meaningful part of the money and coins but not all, they can pay any withdrawals except some exceptional days when there are too many. Then the best way not to induce panic withdrawals which would kill them would be to delay some withdrawal for a reason which looks like legit.
But as already said, there are no laws that would make them ask some of their questions including the proof of ownership of the bitcoin adresses of their clients. Moreover it seems that even with random answers you get your withdrawal, the point was just to delay it. Considering that they are not legit at all, this questionnaire seems even more suspicious.

Of course we are far from the time when there are a lot of delayed withdrawals, and they are no delayed bitcoins withdrawals yet, which is the ultimate warning, but that is a clear red flag to the ones who are prudent enough to notice.

I still remember the tremendous deny during the fall of Gox, i know there are many naives in this community and even very succesful traders did get screwed even if to me it was very fishy to trust Gox in late 2013. I will not send any cent nor any mBTC to Bitstamp from now because i don't trust them and this questionnaire seems very suspicious, as i don't want to mess with BTC-E and i haven't traded on Gox.

Some would say i am too suspicious and i have no convincing proof, but many of them did lose money on Gox and if they don't want to change their thinking process, that is their problem.

[hdbuck]

Are you saying OP faked the whole conversation from his thread, where they demand all sorts of crazy proof? http://www.reddit.com/r/Bitcoin/comments/26apno/bitstamp_will_not_process_withdrawal_unless_you/

If it was so, then it would be easy enough for Bitstamp to say he's a liar. I doubt he is.

i confirm i had the same kinda intrusion and felt quite raped by such questions. fuck fiat. im full BTC and outta stamp.

[scarsbergholden]

I think I will target 505-508 for a buy and stop it out around 497. If that 507 level (.382) holds then I could see another leg up to 575-590 otherwise we are heading downtown imo

[ElectricMucus]

A plane just hit the second exchange.

haters gonna hate

[Syke]

Can't withdraw fiat even though you're verified without asking intrusive questions above and beyond what a company could possibly need to know for KYC/AML, add on the fact that many people can't sign their most used deposit address then I'd call it a problem.

Yes, the questions are intrusive. Can you point to a single case where someone who cannot answer the questions has had a withdrawal refused?

[scarsbergholden]

Are you saying OP faked the whole conversation from his thread, where they demand all sorts of crazy proof? http://www.reddit.com/r/Bitcoin/comments/26apno/bitstamp_will_not_process_withdrawal_unless_you/

If it was so, then it would be easy enough for Bitstamp to say he's a liar. I doubt he is.

TBH it would not surprise me at all. Bitstamp has some really bizarre ideas about AML/KYC requirements. I mean I get it, BTC is a new asset class, no one knows what to do/how to comply. But they have been going about it in a uniquely bizarre manner for some months now. And I never could understood how their questionnaire even answers AML/KYC concerns

[aminorex]

A magic monkey told me the uptrend will dominate at least through Monday, probably Tuesday.  The monkey also thinks this is the first week of a multi-month uptrend, although he is not as certain.

This particular monkey does quite well at darts in FX and US Equity, FI and Comdty markets.  Not enough data to say how he does in BTC really, although he did call the major tops and bottoms on daily charts on bitstamp data since inception, albiet with a couple of false positives here and there.

Dratted monkey is also telling me that my positions in non-crypto are broken now.  *Sigh*

[oda.krell]

Oh gosh how hard is it :p. Mining, donations, sold stuff online, investments, payment for freelance work. Yes, a few sentences covers it.
They don't even ask for proof of where the funds come from, they just ask where they origin from. Big difference.

Agree with that part til 100%. Bitstamp should give more information on what happens with the passport scans, replies to questionaires etc.

Haha, sorry dude, just forget it. We won't be able to convince them... guess there are quite a few people in here that got burned badly on gox and are now a bit paranoid.

The difference is, the gox problems were completely obvious a long time before it all came crashing down, just look at the huge thread of delayed withdrawals MONTHS before they actually shut down. That is what an exchange in trouble looks like, not this wet fart of impotent rage about Bitstamp's somewhat anal KYC procedures...

[N12]

This has nothing to do with insolvency oda, take your strawmans elsewhere. Telling people they're verified and letting them trade/deposit just fine, not mentioning any sort of anal probes about source of Bitcoins in TOS, and then having it come as a surprise when withdrawing is inacceptable. No real broker will do this.

[ampere9765]

So they may require me to give up my passport even though they already have my driver's license on file? Can anyone explain to me how this assists the AML compliance process? Seems like totally unnecessary BS to me. I already had my dox stolen from MTGOX. Now i need to give more to Stamp? Fuck that

Im just gonna leave Stamp. Seems they are hitting more and more people with this bullshit

[dreamspark]

Oh gosh how hard is it :p. Mining, donations, sold stuff online, investments, payment for freelance work. Yes, a few sentences covers it.
They don't even ask for proof of where the funds come from, they just ask where they origin from. Big difference.

Agree with that part til 100%. Bitstamp should give more information on what happens with the passport scans, replies to questionaires etc.

Haha, sorry dude, just forget it. We won't be able to convince them... guess there are quite a few people in here that got burned badly on gox and are now a bit paranoid.

The difference is, the gox problems were completely obvious a long time before it all came crashing down, just look at the huge thread of delayed withdrawals MONTHS before they actually shut down. That is what an exchange in trouble looks like, not this wet fart of impotent rage about their KYC procedures...

 Sorry but most in here are not saying that they are insolvent. What they are saying is that the intrusiveness goes above and beyond reason and is sprung on you with out any guidelines or clarification, thats not impotent rage. People are allowed to feel how they like about that, both in terms of the requirements themselves and what happens to the data, and discuss it too.

And that quote is out of context of the conversation which was about being asked for proof. He was saying that they don't ask for proof despite evidence to the contrary including a user who posted after that.

Are you saying OP faked the whole conversation from his thread, where they demand all sorts of crazy proof? http://www.reddit.com/r/Bitcoin/comments/26apno/bitstamp_will_not_process_withdrawal_unless_you/

If it was so, then it would be easy enough for Bitstamp to say he's a liar. I doubt he is.

i confirm i had the same kinda intrusion and felt quite raped by such questions. fuck fiat. im full BTC and outta stamp.