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

[hyphymikey]

“The award process is ongoing,“ Donahue said.

“Not today,” confirmed another spokesman for the Marshals Service. “I’m not at liberty to say why. The process is still ongoing,” he said.

http://nypost.com/2014/06/30/feds-put-bitcoin-auction-bidders-on-hold/

How can you screw up a simple auction?

Can you confirm a screw up occured?

Didn't think so.

There are several practical reasons they might delay the final results.

How could they let people know they lost already when the award process is ongoing? You have to pass the background check before the auction so that can't be it. I bet someone won all the blocks of coins at a high price, and if I am not mistaken, I read or heard they were selling them in chunks so no one entity could turn around and sell them. I think it was on the news clip that aired right before the auction. My guess is some bank bought them all and they are trying to revise the rules, to whose benefit I have no idea.

[JorgeStolfi]

They will likely wait until the bidder's fiat clears before they send, I'm assuming they didn't have to wire funds until they were notified they had won, so legacy banking speed means we might see the coins move sometime before the end of the week?

Right.  Also, if one of the winners fails to wire in the payment (and thus loses the 200 k$ deposit)  they have to notify the next highest unfilled bidder, and give him an extra day to send his payment, and so on.  It is only after they got payments for all lots of the same series that the winners and losers (and the winning prices) will be defined. 

Presumably professional bidders like SecondMarket make sure that they have the full amount on hand before submitting a bid.  But who knows what types may have bid on this auction.   

[Raystonn]

Hey look.  The top story on Slashdot is in regards to Stolfi and Bitcorn.
http://science.slashdot.org/story/14/07/01/0020227/how-often-do-economists-commit-misconduct

[JorgeStolfi]

Hey look.  The top story on Slashdot is in regards to Stolfi and Bitcorn.
http://science.slashdot.org/story/14/07/01/0020227/how-often-do-economists-commit-misconduct

You are confusing me with Tuur Demeester perhaps? 

[windjc]

Finex with almost a 1k btc market buy.

Lol. wtf?

[derpinheimer]

CHOOCHOO!!!

[ChartBuddy]

Explanation

[hyphymikey]

$650 on stamp should fall pretty soon. Huobi is acting like it wants a go too.

[ChartBuddy]

Explanation

[shmadz]

$650 on stamp should fall pretty soon. Huobi is acting like it wants a go too.

I dunno, this feels like the chop.



I can't tell if it's moonshot -> http://www.youtube.com/watch?v=WMQg546agpU

or waterfalls? -> http://www.youtube.com/watch?v=2QptmMGtzo4

it's like 'choose your own adventure'

[windjc]

$650 on stamp should fall pretty soon. Huobi is acting like it wants a go too.

I dunno, this feels like the chop.



I can't tell if it's moonshot -> http://www.youtube.com/watch?v=WMQg546agpU

or waterfalls? -> http://www.youtube.com/watch?v=2QptmMGtzo4

it's like 'choose your own adventure'

Consolidation at highs. Rest before more up action.

[aminorex]

So far China has been like "Meh".

So far china has been dumping at 4000. Until that is exhausted we go nowhere.

[windjc]

So far China has been like "Meh".

So far china has been dumping at 4000. Until that is exhausted we go nowhere.

I pretty much agree.

There is the possibility some crazy bullish result comes out of the auction this week (ie <$660 bids) and that would take care of resistance at 4000 and 650, but otherwise we are going to rest here between $625-$650 imo.

Then we will make a run at $685 once profit takers exhaust themselves.

[ChartBuddy]

Explanation

[blatchcorn]

Tera's reaction when she gets back and sees the price:

[Davyd05]

engines revving at bit

[smoothie]

July will be a very bullish month. August may be even more with a price spike then "crash".

[BTCfan1]

Bitfinix leading the way 660! 

[windjc]

July will be a very bullish month. August may be even more with a price spike then "crash".

Where would your price spike prediction be currently? 1000ish? 850ish?

[BTCfan1]

So far China has been like "Meh".

So far china has been dumping at 4000. Until that is exhausted we go nowhere.

action on Huobi is picking up