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

[edwardspitz]

Jorge became a cultist some time ago... I clearly remember that he wrote that he doubled (or tripled?) his BTC portfolio. Todays drop was clearly Jorge cashing out because he needed a little extra cash for the auction. 

Actually I did not buy nor sell any coins today, but the USD value of my holdings doubled again, nevertheless.   

Good to hear you are a hodler 

[ShroomsKit]

Still some time left to buy
http://nypost.com/2014/06/25/its-david-vs-goliath-in-race-to-launch-nys-first-regulated-bitcoin-exchange/

Please don't post positive news. People will panic and dump.

[aminorex]

The US Government auctioned the coins now because it is not supposed to hold on to seized property. 

This is a factual error.  The USG often retains seized property and uses it as it sees fit.  It's one of the perks of being allowed to seize property.  If you like something, you take it.  If they can't afford a law suit to get it back, it's all candy.

[Dragonkiller]

The US Government auctioned the coins now because it is not supposed to hold on to seized property. 

This is a factual error.  The USG often retains seized property and uses it as it sees fit.  It's one of the perks of being allowed to seize property.  If you like something, you take it.  If they can't afford a law suit to get it back, it's all candy.

They are counting on being able to auction off the other 140,000+ BTC at some point in the future, so selling 30,000 now is probably prudent.

[EuroTrash]

'tis a bearish pennant, or just Stamp following sleepy Huobi?

[600watt]

Still some time left to buy
http://nypost.com/2014/06/25/its-david-vs-goliath-in-race-to-launch-nys-first-regulated-bitcoin-exchange/

2015: nasdaq bitcoin exchange... ..?



 

[JayJuanGee]

Thanks for cutting my post into half, don't do that again. I guess you agree with point 2 and 3. [ ... ]

It is good etiquette to trim the posts you are replying to, leaving only the parts that are relevant to the reply.  However I should have added "[ ... ]" to show that parts were omitted; my apologies for being lazy.

Yes Jorge!, until you join the cult we hold you to a different standard,  

Jorge became a cultist some time ago... I clearly remember that he wrote that he doubled (or tripled?) his BTC portfolio. Todays drop was clearly Jorge cashing out because he needed a little extra cash for the auction.  

Zero times zero two is still zero, as far as I know my math basics.




EDIT:  fixed above after I realized my mistake, by reading other posts... 

[windjc]

It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

If you were ever going to pay above market for btc, now would be the time to do it.  Some time 5-10 days from now, BTC will put in its lowest daily bottom, and prices will always be higher thereafter.  (Says the monkey, but I will take responsibility this time, because I agree -- and yes, perhaps it is magical thinking.  He is, after all, a magic monkey.)

lol what is this magic monkey that I keep hearing of? I must have missed something many pages ago. Is this some rhesus monkey that you've imprisoned and hooked to electrodes to exploit his clairvoyant talents?

Dude. Lets bet. Any amount up to 100 BTC that they go above market price. Your logic is so irrational, I feel you should be punished for spreading stupidity on these boards. Money where mouth is please.

[Dragonkiller]

It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

If you were ever going to pay above market for btc, now would be the time to do it.  Some time 5-10 days from now, BTC will put in its lowest daily bottom, and prices will always be higher thereafter.  (Says the monkey, but I will take responsibility this time, because I agree -- and yes, perhaps it is magical thinking.  He is, after all, a magic monkey.)

lol what is this magic monkey that I keep hearing of? I must have missed something many pages ago. Is this some rhesus monkey that you've imprisoned and hooked to electrodes to exploit his clairvoyant talents?

Dude. Lets bet. Any amount up to 100 BTC that they go above market price. Your logic is so irrational, I feel you should be punished for spreading stupidity on these boards. Money where mouth is please.

This auction has been pretty useful for me. It's highlighted the stupidly of people on this forum that (a) think they will go for significantly below market price and, (b) even worse, think they will be immediately dumped on the exchanges.

[tarmi]

Here we go again with bets.

Sure, they will pay a premium for those coins, but the real question now is how much will the price crash first. 

[Adrian-x]

The US Government auctioned the coins now because it is not supposed to hold on to seized property. 

This is a factual error.  The USG often retains seized property and uses it as it sees fit.  It's one of the perks of being allowed to seize property.  If you like something, you take it.  If they can't afford a law suit to get it back, it's all candy.

I'm inclined to think if we crash hard next week there are forces at work that are undermining Bitcoin's Fungibility, and we can expect the euphemistic green listed (black listed) coin idea to emerge with some fervor.

How we the Bitcoin community including the likes of Lawsky, respond to a new falls flag event or an existing one (say Gox) will determine the outcome.

I'm going with a crash followed by some divine guidance from a monkey or random market response.
The future always hard to see it is.

[Dragonkiller]

The US Government auctioned the coins now because it is not supposed to hold on to seized property. 

This is a factual error.  The USG often retains seized property and uses it as it sees fit.  It's one of the perks of being allowed to seize property.  If you like something, you take it.  If they can't afford a law suit to get it back, it's all candy.

I'm inclined to think if we crash hard next week there are forces at work that are undermining Bitcoin's Fungibility, and we can expect the euphemistic green listed (black listed) coin idea to emerge with some fervor.

How we the Bitcoin community including the likes of Lawsky, respond to a new falls flag event or an existing one (say Gox) will determine the outcome.

I'm going with a crash followed by some divine guidance from a monkey or random market response.
The future always hard to see it is.

Pretty ironic that the only coins we know for sure have been used for the purchase of drugs are the only coins that will definitely be 'green listed'.

[aminorex]

monkey remains happy so far intraday, but starts to get nervous about 6pm.
context recap: daily, sad; weekly, monthly, happy.

I'm sure the monkey would say it was a bear pennant if I took the Shock Doctor Gel Bite Guard out of his mouth long enough.

[dnaleor]

My view. Think the support will hold:

[ChartBuddy]

Explanation

[oda.krell]

Woah... Since when are you a hero member, Eurotrash?

no idea. I didn't post anything heroic recently. Mostly one-liners. If anyone, you 'd deserve that badge way more than I do.

That's the friendly way of you telling me 'you have no life, and spend entirely too much time on btctalk' :P

[MatTheCat]

This auction has been pretty useful for me. It's highlighted the stupidly of people on this forum that (a) think they will go for significantly below market price and, (b) even worse, think they will be immediately dumped on the exchanges.

The above post has been pretty useful for me. It has highlighted the stupidity of people on this form that think (a) they will go for significantly above the market price and, (b) even worse, think they won't be immediately dumped on the exchanges.

What is the name again of the nice lady at BNP Paribas who is bidding for the coins? You know, the one that works in the arbitrage department?

[bangersdad]

The fact that they are being sold by USMS makes them far far more attractive to institutional investors who have been nervous about the grey areas of legality with btc and they will be queuing round the block to bid on them...

[oda.krell]

We should probably start defining what we mean by "above market" or "below market".

Since the announcement of the auction, daily median has fluctuated between, what, 650 and 550? Something like that, I think.

So, new rule: if you say "they'll sell above/below market", you better specify the actual price, otherwise that prediction is sounding a bit fuzzy.

[Dragonkiller]

This auction has been pretty useful for me. It's highlighted the stupidly of people on this forum that (a) think they will go for significantly below market price and, (b) even worse, think they will be immediately dumped on the exchanges.

The above post has been pretty useful for me. It has highlighted the stupidity of people on this form that think (a) they will go for significantly above the market price and, (b) even worse, think they won't be immediately dumped on the exchanges.

What is the name again of the nice lady at BNP Paribas who is bidding for the coins? You know, the one that works in the arbitrage department?

Oh it's Mat, I'm still laughing from your bitching about bitfinex. Everyone knows they're shady as fuck, why do you keep using them?!

Anyway, the nice man at BNP is almost certainly planning to buy them as a personal investment.