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

[ChartBuddy]

Explanation

[JayJuanGee]

I find extremely frustrating the fact that IMF and JPM are SERIOUSLY considering BTC and Blockchain as a financial way towards their future. I can't HODL BTC under those circumstances. It's not ethical nor sane. Should I SODL?

Link or it didn't happen

http://www.forexminute.com/bitcoin/bitcoin-news-mash-imf-acknowledges-bitcoin-bitcoin-operations-suspended-47107

Thanks Stan... Overall seems bullish for bitcoin (and blockchain) - even though many bitcoiners do NOT trust the involvement of various big institutionalized entities being involved with the blockchain... ...

But in the end, bitcoin was designed to account for the participation of less than trust-worthy entities.  I think overall bullish - even though there will continue to be battles and ongoing attempts at manipulation.

[johnwest]

Oh look. A wall, trying to push us down. What a surprise.

Yeah, and price pegged to some meaningless number ($391.59, lol)

Whales Wars.  That's all this stupid market is now.  Joe Public doesn't give a rats ass about bitcoin, and won't until a new artificial rally gets created again by the whales.

Yes. These people are completely ruining this market.

Hahah, you are saying this, did not expected from this.

[Richy_T]

And regardless of how much of a fiction the price is, my point is simple: assuming it's less of a fiction now than it was at it's peak is unjustified.
In the alternative, if the price was artificially inflated then, why use that price to bolster "we're going to the moon again" arguments?  According to you, we've never been there.

And being a stickler about one year--hey, those prices were inflated by Gox, just like the peak.  Commit it then to the flames: for it can contain nothing but sophistry and illusion.

The price is the only truth: What two people have, at a particular point in time, agreed to trade for (unless you're talking outright fraud which Gox may have been up to). All else is smoke with varying degrees of relevancy. I am unaware of anyone that has been using Gox's ATH to put forth "to the moon" arguments but we already know you're a liar so I won't ask for examples.

[NotLambchop]

...but we already know you're a liar so I won't ask for examples.

Learn to be more polite when you talk to your betters.

[Richy_T]

...but we already know you're a liar so I won't ask for examples.

Learn to be more polite when you talk to your betters.

Indeed I do.

[JorgeStolfi]

Just so everyone knows,  Barry Silbert (Second Market Bitcoin Trust) basically admitted that some of the price decline was because of "tax selling" in today's tweet. (the tax extension deadline in the US is today, October 15th)

I know this will surprise nobody, but I'm feeling really good about bitcoin right about now. Plus, tax selling is finally behind us.

https://twitter.com/barrysilbert/status/522440627502723075

He even gave everyone a heads up about it in an earlier tweet on Oct 6th.

Surprised how few are connecting the recent selling pressure to the Oct 15 tax extension deadline. Taxes due from '09-'13 mining/usage/sales

https://twitter.com/barrysilbert/status/519120987334651905

Read carefuly, he did not say "the price is falling because American bitcoiners are tax selling". 

"Surprised how few are connecting the recent drop of the DJA to the anniversary of the Battle of Hastings."
"I am feeling good about the DJA right now.  Plus, the Russia Formula 1 race is finally behind us."

There is a thread that keeps track of what is being bought and sold by the Second Market Bitcoin Trust (see https://bitcointalk.org/index.php?topic=337486.0 ) and there was some large sells before today's deadline.  Barry Silbert is at least aware of funds being sold for this obviously. It could very well have had an effect on the price.  I am not sure why you are being argumentative?

Well, I guess I have a more pessimistic notion of financial types, be they bitcoiners or not...

People who bought SMBIT shares six months ago, when BTC was ~600$, must be getting uneasy and thinking of liquidating before the price falls even further.  So Barry has to tell them something that would "explain" the drop as a temporary thing. 

I don't believe in that "tax seling" explanation, and I suspect that he doesn't believe it either.  I don't see evidence that China has relinquished control, and China obviously does not care about that deadline.   So he cannot say it explicitly; if the price keeps falling for the next few days (which it may or may not do, who knows), that would harm his credibility.  Better just mention the two things side by side, and let the readers infer a connection.  "Wait, I never said that!"...

By the way, the last udate to that thread shows that SMBIT bought ~1500 BTC a couple of days ago, and now sold ~1500 BTC.  So that buy may have been just a glitch in the monitoring.

[molecular]

But in the end, bitcoin was designed to account for the participation of less than trust-worthy entities.  I think overall bullish - even though there will continue to be battles and ongoing attempts at manipulation.

It's ideal for them, iirc a bank of America chief stated Bitcoin could replace the SDR last year, the only trouble is doing it without making a load of smelly hippies stinking rich in the process

You mean those alpaca-sock-wearing crypto-hippies? Those are the worst kind! Urgh!

[btcney]

420 COMING

[ChartBuddy]

Explanation

[ShroomsKit]

Everyone ready for today's pump and dump? Remember, don't be that guy who buys at the top.

[NotLambchop]

Another trend reversal.  Moon!

[BitChick]

Everyone ready for today's pump and dump? Remember, don't be that guy who buys at the top.

One of these days we will have a day, or two, or three with pump and no dump. 

It might just catch a few of you by surprise. 

[inca]

Off to bed. Probably be over 400 when I wake, eh Shroomskit? Nn porkchop

[slushee]

Another trend reversal.  Moon!

[ImI]

Everyone ready for today's pump and dump? Remember, don't be that guy who buys at the top.

whats wrong with that? my first coins i bought at 50$ and that was indeed a new top. i was still buying when we hit 340$ and that was also a new top at that time.

[fonzie]

Another exchange bites the dust:

"MintPal is currently down for a number of necessary changes and fixes. A separate method of withdrawing funds will be made available on October 16th, 2014."

http://www.coindesk.com/moolah-mintpal-closure-bankruptcy/

[Malin Keshar]

Another dump.

Hope it goes beyond 410 this time.

We need 420 for the sake of the lulz

[ChartBuddy]

Explanation

[dEBRUYNE]

Another exchange bites the dust:

"MintPal is currently down for a number of necessary changes and fixes. A separate method of withdrawing funds will be made available on October 16th, 2014."

http://www.coindesk.com/moolah-mintpal-closure-bankruptcy/

Crossposting my own post:

Domain Name: MINTPAL.COM
Registry Domain ID: 1841800953_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.enom.com
Registrar URL: www.enom.com
Updated Date: 2014-01-07 10:52:15Z
Creation Date: 2014-01-07 18:52:00Z
Registrar Registration Expiration Date: 2015-01-07 18:52:00Z
Registrar: ENOM, INC.
Registrar IANA ID: 48
Registrar Abuse Contact Email:
Registrar Abuse Contact Phone: +1.4252982646
Reseller: NAMECHEAP.COM
Domain Status: clientTransferProhibited
Registry Registrant ID:
Registrant Name: ALEX GREEN
Registrant Organization: MOOPAY LTD
Registrant Street: 1ST FLOOR
Registrant Street: 2 WOODBERRY GROVE
Registrant City: LONDON
Registrant State/Province: LONDON
Registrant Postal Code: N12 0DR
Registrant Country: GB
Registrant Phone: +44.2081443767
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email:
Registry Admin ID:
Admin Name: ALEX GREEN
Admin Organization: MOOPAY LTD
Admin Street: 1ST FLOOR
Admin Street: 2 WOODBERRY GROVE
Admin City: LONDON
Admin State/Province: LONDON
Admin Postal Code: N12 0DR
Admin Country: GB
Admin Phone: +44.2081443767
Admin Phone Ext:
Admin Fax:
Admin Fax Ext:
Admin Email:
Registry Tech ID:
Tech Name: ALEX GREEN
Tech Organization: MOOPAY LTD
Tech Street: 1ST FLOOR
Tech Street: 2 WOODBERRY GROVE
Tech City: LONDON
Tech State/Province: LONDON
Tech Postal Code: N12 0DR
Tech Country: GB
Tech Phone: +44.2081443767
Tech Phone Ext:
Tech Fax:
Tech Fax Ext:
Tech Email:
Name Server: NS0.DNSMADEEASY.COM
Name Server: NS1.DNSMADEEASY.COM
Name Server: NS2.DNSMADEEASY.COM
Name Server: NS3.DNSMADEEASY.COM
Name Server: NS4.DNSMADEEASY.COM
DNSSEC: unSigned
URL of the ICANN WHOIS Data Problem Reporting System: http://wdprs.internic.net/

Management of MintPal is being handed off to another entity, Moopay LTD does not own the exchange.

Something doesn't add up here.

Also: https://bitcointalk.org/index.php?topic=421615.msg9182186#msg9182186

PS: I am just speculating here, not accusing.