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

[jl2012]

Bid submissions for the SR coin auction are now closed, so we can no longer claim it's interested parties attempting to keep the price down until Friday 

No, bid submission starts at Friday 10am UTC

[hyphymikey]

Watching all of the bidders who sold and lost, and all those who panicked with them, buy back soon should be fun.

Everyone should move up their asks to make them pay a premium for their mistake.

[samsonn25]

Bidders need to email in a signed scan of their bid form, FRIDAY between 6am and 6pm, in a blind auction in which bidders don't see rivals' bids, and the government treats the highest submitted price as the prevailing bidder.

[Untitled87]

Double bottom forming?

[adamstgBit]

Double bottom forming?

its not a double top! 

[MatTheCat]

i.e. today I discount OKCoin volume by a factor of 10, and Huobi by factor 5. It's coincidence that today they add up to roughly the same value, btw.

Those factors seem to be completely arbitrary.

In the past week, I have probably accounted for around 150 BTC of volume. I currently own 15 BTC. I have only $80 spare on Bitstamp and nothing on any other exchange. I get charged 0.2% interest for every BTC transaction I make. Users of the CNY exchanges don't get charged anything. Go figure.

Double bottom forming?

There is a case for an inverse head n shoulders on Bitstamp. But there is also a case for a bear flag for which we would have just completed the 3rd swing, with the 4th swing taking us back up to above $580, and the support being broken on the 5th swing as Bitcoin heads down to lower prices.

[oda.krell]

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

[MatTheCat]

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

DANG MAN!

That shit is almost as bad as Bitstamp!  

But not quite.

[hyphymikey]

Nobody with enough money to buy a block of 3,000 coins is going to bid over the top of the current value on major exchanges. The bitcoin market has been so anemic for months now that all we're going to see are a few low ball offers, and whoever wins will take the lot for a very nice discount. Face it guys, we all want to see a rally, and it will likely happen eventually, but smart money isn't going to dive in on something that is so uncertain in the near term.

Yeah I don't see SecondMarket and others who have millions in coins already buying bitcoin, it so uncertain in the near term lmao!

If every time I bought a diamond the price went up, then I hear of this really legit seller thats willing to sell me 30,000 diamonds at an auction without the price going up. But there are other buyers at the auction, there is no way in hell I am going to send in an offer lower than market price. I would be guaranteed to lose that auction. So what would I do, put in a bid for 10% over market for 3k of them, 8% on another 3k, and so on. If only one of the bidders goes over market price, then guess what? THEY WILL BE SOLD OVER MARKET PRICE. All it takes is one smart guy (in my eyes) or one stupid guy (in your eyes) to bid over market price. I'll bet everything I own the smart guy with a higher bid (over market) wins.

[akujin]

What about the 144k btc? Are they allowed to sell it too?

[jl2012]

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

This is FAKE

Source:

We received your withdrawal request. As your withdrawal request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitstamp. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your transfer.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of trading on Bitstamp?
3. What is the origin of the deposited Bitcoins? If mining, please specify your hardware specifications and submit a receipt or an invoice for your mining equipment.
4. When and how did you obtain your Bitcoins?
5. What is the reason for your activity - depositing BTC, selling, withdrawing?
6. What are your future plans and activities planned on our exchange?
7. Do you plan more of such withdrawals in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

[Ivanhoe]

Nobody with enough money to buy a block of 3,000 coins is going to bid over the top of the current value on major exchanges. The bitcoin market has been so anemic for months now that all we're going to see are a few low ball offers, and whoever wins will take the lot for a very nice discount. Face it guys, we all want to see a rally, and it will likely happen eventually, but smart money isn't going to dive in on something that is so uncertain in the near term.

Of course they are going to bid above market price.
1) You can't see what the others bid, so you have to make your bid count.
2) Do you think the names we saw on the leaked list or going to register on sites like Bitstamp? No these people buy off exchange.
3) Even if they would buy on Bitstamp buying 3 000 BTC would cost them 1.8 million dollar and this would push the price to 596 and leaving a serious gap behind them in the bid side on the order book. If they would bid at 580 this will cost them only 3000 x 580 = 1.74 million dollar.

[N12]

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

Good one.

[Krabby]

What about the 144k btc? Are they allowed to sell it too?

I can see this becoming another china incident where they draw it out as long as possible to stop the price going up. :c

[hyphymikey]

What about the 144k btc? Are they allowed to sell it too?

No, only if they find Ross guilty and prove that all of those coins came from SR profits. I would love for them to sell these coins sometime soon, but it may be a while. After these 30K coins sell for a premium I can only imagine what the 144K would sell for. By then there will be a lot more buyers lining up to buy a chunk that big.

[empowering]

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.
9. The diameter of your rectum ?
10. Are you susceptible to any diseases?
11. Are you a member of the communist party?
12. How did J.F.K get shot?
We kindly ask you to submit your answers and documents in a reply to this ticket.

[N12]

Love the frappuccinos.

[akujin]

What about the 144k btc? Are they allowed to sell it too?

No, only if they find Ross guilty and prove that all of those coins came from SR profits. I would love for them to sell these coins sometime soon, but it may be a while. After these 30K coins sell for a premium I can only imagine what the 144K would sell for. By then there will be a lot more buyers lining up to buy a chunk that big.

What about the owners of the 30k btc? Were they found guilty?

[bitcoinsrus]

What about the 144k btc? Are they allowed to sell it too?

[Bitcoin_is_here_to_stay]

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

This is FAKE

Source:

We received your withdrawal request. As your withdrawal request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitstamp. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your transfer.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of trading on Bitstamp?
3. What is the origin of the deposited Bitcoins? If mining, please specify your hardware specifications and submit a receipt or an invoice for your mining equipment.
4. When and how did you obtain your Bitcoins?
5. What is the reason for your activity - depositing BTC, selling, withdrawing?
6. What are your future plans and activities planned on our exchange?
7. Do you plan more of such withdrawals in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

I am so glad question 5 is not true

Anyway, the actual one is almost as stupid: "The purpose of trading on Bitstamp?". Anyone would answer: "to make money", do they really think somebody would say "money laundering"?