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

[segeln]

What will happen if gox liguidators just dump all the coin on the market at once (could happen it is a gov't)
[ ... ]
(again these are japanese bureaucrats...they could just keep their job safe and dump it all on the market ...quick/fast/dirty like a regular gov't auction

A public auction is the normal way to liquidate the assets of a failed company.  Any other method (such as selling them in the open market, or to a private buyer) would expose the liquidator to charges of favoritism, incompetent trading, etc..  That also holds for the coins that the FBI seized from SilkRoad.

The FBI will use their government auction staff, but the MtGOX liquidator will probably hire some private auctioning firm.  Presumably they will divide the coins into a couple dozen lots, each auctioned separately, in order to attract more buyers.  Other than that, I don't expect them to worry much about getting the best possible price.

The people who will buy those coins at the auction will then dispose of them according to their interest. 

By the way, I suppose that the prices off-market for "bulk" trades are not much different from the open market price.  If the off-market price was much lower, there would be people buying bitcoins in bulk off-market to sell them little by little on the open market.
Conversely, if the off-market price was much higher.   Is this correct?

+1 ,as always

[amitrwt]

looking at current price there should be at least one other polling option b/w  $645 and $540 may be 615$

[JorgeStolfi]

This post by @cryptoceelo may be of interest to miners: https://bitcointalk.org/index.php?topic=640717.msg7266240#msg7266240

[zimmah]

Bitcoin gone mainstream , relax and enjoy the ride

i would say, enjoy the price dropping plus money losing and maybe a full market crushing to $5xx and $4xx very soon!
thanks for the mtgox 800k + 200k lost coins and the China ban, there will be no more $1000 crazy buy, face the reality, $6xx is already the top bubble, time to calm down

Fonzie, is that you?

[Todorius]

Now that the trolls come out of their hiding again ( I really did enjoy the short period of calmness without these assh**es posting their regular s**t in this subforum (looking at you Jorge, Fonzi, etc), sorry for the drastic words )
I want to kindly remind you of what happened in 2013:



Notice the similarities starting from the July bottom back then to the maximum in early September. Perfect retracement to the first Fibo support level at 115, then a stabilization at around 120-125, then sideways action for a few weeks.

We now might be seeing the same here. Testing suppor at the first Fibo Level, slightly over 600, then recovering to 620-640, then a few weeks of sideways action. I don't think a flashcrash like the SR closure in early October 2013 will happen this time.
And then in early July, the real rally will probably start.

[sickpig]

Bitcoin gone mainstream , relax and enjoy the ride

i would say, enjoy the price dropping plus money losing and maybe a full market crushing to $5xx and $4xx very soon!
thanks for the mtgox 800k + 200k lost coins and the China ban, there will be no more $1000 crazy buy, face the reality, $6xx is already the top bubble, time to calm down

Fonzie, is that you?

Is Fonzie falllling ? :-)

[TERA]

based on a potential fractal I noticed.

please tell me this fractal is from 2012  



seriously, just add a couple zero's onto those prices and boom! it's like time travel! 

Here's a rough version of my fractal idea (bearish case scenario):

[falllling]

Bitcoin gone mainstream , relax and enjoy the ride

i would say, enjoy the price dropping plus money losing and maybe a full market crushing to $5xx and $4xx very soon!
thanks for the mtgox 800k + 200k lost coins and the China ban, there will be no more $1000 crazy buy, face the reality, $6xx is already the top bubble, time to calm down

Fonzie, is that you?

Is Fonzie falllling ? :-)

the answer is no and it doesn't matter

[ChartBuddy]

Explanation

[dreamspark]

Still no real explanation for Stamps lagging behind ? With the amount of USD longs on Finex I would have thought some people would have panicked and bought them back into line...

[Cassius]

Still no real explanation for Stamps lagging behind ? With the amount of USD longs on Finex I would have thought some people would have panicked and bought them back into line...

Rather than this suggesting Stamp's insolvency/Goxxery, it suggests that Stamp has temporarily become the go-to exchange for cashing out coins. People are buying/trading elsewhere and selling/withdrawing on Stamp. Curious. That suggests somewhere else is experiencing fiat withdrawal issues. Another round of Chinese games to come?

[dreamspark]

Still no real explanation for Stamps lagging behind ? With the amount of USD longs on Finex I would have thought some people would have panicked and bought them back into line...

Rather than this suggesting Stamp's insolvency/Goxxery, it suggests that Stamp has temporarily become the go-to exchange for cashing out coins. People are buying/trading elsewhere and selling/withdrawing on Stamp. Curious. That suggests somewhere else is experiencing fiat withdrawal issues. Another round of Chinese games to come?

I don't think it says anything about their solvency, insolvency would normally cause people to get their coins out asap which would have the opposite effect. The explanation that its the go to cash out place could hold but why all of a sudden ? Somethings definitely brewing, would have thought someone would be arbing the gap as its been pretty constant.

[Cassius]

Still no real explanation for Stamps lagging behind ? With the amount of USD longs on Finex I would have thought some people would have panicked and bought them back into line...

Rather than this suggesting Stamp's insolvency/Goxxery, it suggests that Stamp has temporarily become the go-to exchange for cashing out coins. People are buying/trading elsewhere and selling/withdrawing on Stamp. Curious. That suggests somewhere else is experiencing fiat withdrawal issues. Another round of Chinese games to come?

I don't think it says anything about their solvency, insolvency would normally cause people to get their coins out asap which would have the opposite effect. The explanation that its the go to cash out place could hold but why all of a sudden ? Somethings definitely brewing, would have thought someone would be arbing the gap as its been pretty constant.

The alternative is that it's one whale continually selling for reasons unknown to the rest of us. Someone earlier in the thread suggested it was one seller. I don't know how you establish that, or why the arb bots aren't taking care of the gap.
Some people have said it's easy to get money out but not in, without the rubber glove treatment. I guess that might incentivise a few to buy elsewhere and go to Stamp to cash out.
None of these explanations are really satisfactory to me, though. But insolvency does not fit either.

[inca]

based on a potential fractal I noticed.

please tell me this fractal is from 2012  



seriously, just add a couple zero's onto those prices and boom! it's like time travel! 

Here's a rough version of my fractal idea (bearish case scenario):

I am happy to be corrected, but your last few predictions were not exactly prophetic.

We may wobble up and down a bit before the next move but day traders really cannot see the wood for the trees!

[TERA]

I am happy to be corrected, but your last few predictions were not exactly prophetic.

We may wobble up and down a bit before the next move but day traders really cannot see the wood for the trees!

It's not a "prediction"! It's just a 'idea of a potential fractal' I had. Anyway I made another thread about it.

[Parazyd]

Nobody wants to buy BTC on Bitstamp. Just my luck...

[falllling]

[madmat]

Perfect name for this kind of FUD.

[dreamspark]

*sigh, seems we have a new resident troll whos just going to tell us continually how we're going down, then disappear again when the price starts rising...

[tarmi]

 fallling is the new fonzie.