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

[byronbb]

I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place.   They must dispose of any property that they seize according to the law.  They had neither  the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal.

Couldn't they just "destroy" them, as they do for illegal stuff like drugs ? (send them to a random address and not store the private key)

The fact that they sell them instead of destroying them has a strong meaning.

^the guvnment destroying drugs? *thats news to me! LOL =)

When I thought about this it seems stupid to destroy a large drug shipment. THey should really sell it back to the cartels for a discount over production costs. This way intercepting drugs would be profitable.

[Gingermod]

I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place.   They must dispose of any property that they seize according to the law.  They had neither  the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal.

Couldn't they just "destroy" them, as they do for illegal stuff like drugs ? (send them to a random address and not store the private key)

The fact that they sell them instead of destroying them has a strong meaning.

^the guvnment destroying drugs? *thats news to me! LOL =)

When I thought about this it seems stupid to destroy a large drug shipment. THey should really sell it back to the cartels for a discount over production costs. This way intercepting drugs would be profitable.

Yes they sell it back to the cartels so they can have more money to battle them.

[adamstgBit]

I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place.   They must dispose of any property that they seize according to the law.  They had neither  the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal.

Couldn't they just "destroy" them, as they do for illegal stuff like drugs ? (send them to a random address and not store the private key)

The fact that they sell them instead of destroying them has a strong meaning.

^the guvnment destroying drugs? *thats news to me! LOL =)

When I thought about this it seems stupid to destroy a large drug shipment. THey should really sell it back to the cartels for a discount over production costs. This way intercepting drugs would be profitable.

they shouldn't wast there time, drugs should be legal but perceived as taboo.

government should tax the shit for the sales of drugs.

crime would go down, revanus up, and smiles all around.

thing is they can't stop it from happening, i doubt there would be much of an increase in use of these drugs anyway,

drug use might actually drop because it might lose its "cool factor"?? idk maybe

anyway legalize drugs, and tax tax tax them, unless paid with bitcoin!  

[keithers]

It will be a real positive sign if we can battle our way back to $600 today and sustain above there. Since govt is selling off all those coins it would actually be pretty funny if we flash crashed all the way down to the bottom, just until their auction ended. Haha

[adamstgBit]

It will be a real positive sign if we can battle our way back to $600 today and sustain above there. Since govt is selling off all those coins it would actually be pretty funny if we flash crashed all the way down to the bottom, just until their auction ended. Haha

market over reacted to this news and the gh/s.io news.

seeing 600's again would not be surprising

but we know there is strong resistance at 680....

hmm...
 5k in 3 months

[spiderbrain]

Government sanctioning Bitcoin through Auction (Bloomberg Video)

http://www.bloomberg.com/video/is-the-government-sanctioning-bitcoin-with-auction-fHjpuE_uQcqc9K88fQaR6g.html

great link, thanks!

[nanobrain]

The prevailing bids will be determined by the following criteria:
1. The eligible bidder who offers the highest price will be the prevailing bidder;
2. If there are multiple bids at the highest price, the first bid received will prevail; and
3. If fewer than all of the Series A blocks are sold to the highest bidder, the remaining blocks will be sold to the successive highest bidders until all blocks are sold.

From http://www.usmarshals.gov/assets/2014/bitcoins/

Its a sealed bid auction....it would have been so much more fun as an English or Dutch auction, esp streamed live so we could all watch.

[ChartBuddy]

Explanation

[Markus11]

What influence can have the auction to btcs ppc?

[adamstgBit]

Government sanctioning Bitcoin through Auction (Bloomberg Video)

http://www.bloomberg.com/video/is-the-government-sanctioning-bitcoin-with-auction-fHjpuE_uQcqc9K88fQaR6g.html

great link, thanks!

the kid " wonders when the gov. will legalize weed " on bloomberg!
lol what a goof
good show!

[adamstgBit]

What influence can have the auction to btcs ppc?

its a large OT sale
its priced in, thats what the price drop was about...
market might not even notice 10K of it being sold off, if its sold slowly.
price might drop 5% the day after the sale too,maybe.

[keithers]

I wanna see some $600!! Let's start buying through these walls people...lets go!!!

[TERA]

I wanna see some $600!! Let's start buying through these walls people...lets go!!!

I think you should ask for more than that. If people buy through all the walls once, the walls will simply re-form. We need to buy through all of the walls 2-3 times for the price recovery to be permanent.

[ChartBuddy]

Explanation

[keithers]

I wanna see some $600!! Let's start buying through these walls people...lets go!!!

I think you should ask for more than that. If people buy through all the walls once, the walls will simply re-form. We need to buy through all of the walls 2-3 times for the price recovery to be permanent.

That would be nice too...just want to build up a little momentum first    Didn't want to ask for too much lol

[niothor]

I wanna see some $600!! Let's start buying through these walls people...lets go!!!

I think you should ask for more than that. If people buy through all the walls once, the walls will simply re-form. We need to buy through all of the walls 2-3 times for the price recovery to be permanent.

You never thought that those walls might get pulled back if they are barely touched?
I've seen so many fakes wall evaporate that I'm pretty sure this is the case with those "walls'" in the 606-612 area.

[TERA]

I wanna see some $600!! Let's start buying through these walls people...lets go!!!

I think you should ask for more than that. If people buy through all the walls once, the walls will simply re-form. We need to buy through all of the walls 2-3 times for the price recovery to be permanent.

You never thought that those walls might get pulled back if they are barely touched?
I've seen so many fakes wall evaporate that I'm pretty sure this is the case with those "walls'" in the 606-612 area.

I don't really observe as quite much 'malicious wall manipulation' on the exchanges as people here seem to claim there is. It is mostly honest orders by people who want to buy and sell. More often than not there is more for sale or more for bid than what you can see on the book - not less.

[ChartBuddy]

Explanation

[medialab101]

Huge bid wall just went up on Stamps (about 1,700 coins) 

[KFR]

I think this is a nice moment to thank ChartBuddy and his chum Richy once again for all of their good work.