notme
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May 15, 2013, 02:05:23 AM |
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Let us gather brethren, the inner voice speaks. I now see a dawn of destruction; theft, pillaging, carnage! A society out of control! Oh the torment! The suffering! Brethren, you must sell all your bitcoins by tomorrow! This is the end of the old order! A new order of panic and fear shall abound! Brethren, the great fall, has begun! If this is the end of the old order, wouldn't we want to buy all the bitcoins?
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molecular
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May 15, 2013, 04:46:41 AM |
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Looks like we finally got a little bit of movement again. No test of old lows so far, but the day isn't over yet.
Thoughts?
Thoughts: there's plenty of support at 100, 90, 80. If 80 falls we're in a serious downtrend and will likely test 50 again. I doubt it, though. Europeans are waking up currenlty and might drive the price down to $100. Maybe even $90. I'd be genuinely surprised if we break below $90. We might even bottom above $100, but I wouldn't bet too much on it. On the upside I don't feel any considerable rally coming and $125 doesn't look like it's going down any time soon. Trading range $80 ($90) <-> $125 ($115) could yield good profits if nerves hold.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Rampion
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May 15, 2013, 10:19:10 AM |
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No coins rushed to the exchange after the Dwolla news. Fiat rushed out ($4M instantly vanished from the order book), but BTC did not rush in (almost no change in the ask sum) - which makes sense, if you use Dwolla there's no point in exchanging your un-seizable currency for seizable fiat. I guess these were just speculators who rapidly reacted to these news to sell high and buy low - I personally did that as soon as I read those news. I made a market sell at $116ish and I bought back shortly after at $109ish. I guess many traders did exactly the same thing. Let's see how this situation unfolds.
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evolve (OP)
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May 15, 2013, 07:31:52 PM |
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Uggh. As much as I dont want to, I am going to have to buy back into the market temporarily to move my funds from Mt.Gox. Looks like the jig is up for US customers there. The big question then becomes which exchange gets targeted next...I dont think DHS is going to stop with Gox.
Any suggestions on where I should go? I'm thinking about Bitstamp since I have used them in the past to flip XRP, but I'm still not certain about them.
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ElectricMucus
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May 15, 2013, 07:36:01 PM |
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Uggh. As much as I dont want to, I am going to have to buy back into the market temporarily to move my funds from Mt.Gox. Looks like the jig is up for US customers there. The big question then becomes which exchange gets targeted next...I dont think DHS is going to stop with Gox.
Any suggestions on where I should go? I'm thinking about Bitstamp since I have used them in the past to flip XRP, but I'm still not certain about them.
I am using btce once you disable the trollbox it's quite bearable. But you would get quite a haircut if you were to do this right now.
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samson
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May 15, 2013, 07:37:41 PM |
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Uggh. As much as I dont want to, I am going to have to buy back into the market temporarily to move my funds from Mt.Gox. Looks like the jig is up for US customers there. The big question then becomes which exchange gets targeted next...I dont think DHS is going to stop with Gox.
Any suggestions on where I should go? I'm thinking about Bitstamp since I have used them in the past to flip XRP, but I'm still not certain about them.
What's the rush ? Unless you need to withdraw immediately I'd just leave it in MtGox or do a wire from MtGox to the US. The order book on bitstamp is pretty thin looking.
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evolve (OP)
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May 15, 2013, 07:42:13 PM |
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What's the rush ? Unless you need to withdraw immediately I'd just leave it in MtGox or do a wire from MtGox to the US.
The order book on bitstamp is pretty thin looking.
My concern is that wire transfers wont be possible much longer either. Honestly, I wouldnt be surprised of Mt.Gox's domain gets seized (killing any chance of getting my money back). Thats my concern about bitstamp as well.
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samson
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May 15, 2013, 07:45:10 PM |
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What's the rush ? Unless you need to withdraw immediately I'd just leave it in MtGox or do a wire from MtGox to the US.
The order book on bitstamp is pretty thin looking.
My concern is that wire transfers wont be possible much longer either. Honestly, I wouldnt be surprised of Mt.Gox's domain gets seized (killing any chance of getting my money back). Thats my concern about bitstamp as well. What about CampBX - that's meant to be all properly registered in the US from what I've read. I have no idea on their order book depth though.
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evolve (OP)
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May 15, 2013, 07:45:54 PM |
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I am using btce once you disable the trollbox it's quite bearable. But you would get quite a haircut if you were to do this right now.
I have an account on BTC-E, but rarely use it (I think I have a few alt coins there), but they have always struck me as a bit shady too.
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evolve (OP)
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May 15, 2013, 07:46:48 PM |
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What about CampBX - that's meant to be all properly registered in the US from what I've read. I have no idea on their order book depth though.
I'll look into them...
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old_engineer
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May 15, 2013, 07:53:13 PM |
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My concern is that wire transfers wont be possible much longer either. Honestly, I wouldnt be surprised of Mt.Gox's domain gets seized (killing any chance of getting my money back).
I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
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ElectricMucus
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May 15, 2013, 07:54:33 PM |
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I am using btce once you disable the trollbox it's quite bearable. But you would get quite a haircut if you were to do this right now.
I have an account on BTC-E, but rarely use it (I think I have a few alt coins there), but they have always struck me as a bit shady too. I used to think like that too, but they are in Russia which still is pretty much as far from US influence as it can get imo. Next, I don't view them as any more shady than others. The dilettante image actually strikes me as positive in a way, no pretending and no bullshit.
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evolve (OP)
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May 15, 2013, 07:55:06 PM |
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I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
DHS is specifically targeting MtGox, though. Right now they are doing it through the most convenient means, through shutting down bank accounts. I highly doubt they are going to stop there, though. IMO, If they cant take down the exchange through seizing accounts, they will do it in court. This is also going to set a precedent on how they handle the other exchanges dealing in the US as well. http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/
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MAbtc
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May 15, 2013, 08:08:09 PM |
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My concern is that wire transfers wont be possible much longer either. Honestly, I wouldnt be surprised of Mt.Gox's domain gets seized (killing any chance of getting my money back).
Thats my concern about bitstamp as well.
Even if Gox went bankrupt as a result of seizures, you'd still likely be able to apply for remission... and get paid out a small percentage of what you were owed.....years later. I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
Doesn't matter. If the feds take the position that Gox is violating US laws, seizure of their domains is entirely plausible. It is too early to say what will happen. Indeed, we can't speculate that this ends here. It is very plausible that this is the tip of the iceberg.
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Peter Lambert
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May 18, 2013, 03:38:43 PM |
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on a more constructive (kind of) note:
We have invalidated pretty much all trends / triangles we can draw and are smurfing along beyond the apex of the grand correction triangle.
What does this mean? Which TA constructs can be used now?
I feel lost.
Looks like my prediction was correct: The price overshot, then oscilated back and forth finding the market price of a bitcoin. Now we are at the market price of a bitcoin until further news. Resume business as normal.
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Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
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Chainsaw
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May 18, 2013, 11:14:02 PM |
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I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
DHS is specifically targeting MtGox, though. Right now they are doing it through the most convenient means, through shutting down bank accounts. I highly doubt they are going to stop there, though. IMO, If they cant take down the exchange through seizing accounts, they will do it in court. This is also going to set a precedent on how they handle the other exchanges dealing in the US as well. http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/evolve, I'm with you. Mostly out of laziness, I had all my trading funds on Mt Gox. That's just too much risk. The recent events left me a bit rushed, so I temporarily pulled things to a local wallet. After spending a few days, I decided to throw a little into CampBX. Their splash screen sent me the message "We get security, and we're gonna play by the rules in the USA". I also read between the lines that they have a strong management team behind them. A smart elevator pitch on entry to their site. A marketing campaign to compel viral growth. My first impression, they're at least giving off the appearance of professionality. I guess time will tell.
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Rampion
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May 18, 2013, 11:17:41 PM |
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I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
DHS is specifically targeting MtGox, though. Right now they are doing it through the most convenient means, through shutting down bank accounts. I highly doubt they are going to stop there, though. IMO, If they cant take down the exchange through seizing accounts, they will do it in court. This is also going to set a precedent on how they handle the other exchanges dealing in the US as well. http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/evolve, I'm with you. Mostly out of laziness, I had all my trading funds on Mt Gox. That's just too much risk. The recent events left me a bit rushed, so I temporarily pulled things to a local wallet. After spending a few days, I decided to throw a little into CampBX. Their splash screen sent me the message "We get security, and we're gonna play by the rules in the USA". I also read between the lines that they have a strong management team behind them. A smart elevator pitch on entry to their site. A marketing campaign to compel viral growth. My first impression, they're at least giving off the appearance of professionality. I guess time will tell. Yeah, it's clear quite an important amount of coins left Gox.
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Seal
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May 20, 2013, 04:34:11 AM |
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I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
DHS is specifically targeting MtGox, though. Right now they are doing it through the most convenient means, through shutting down bank accounts. I highly doubt they are going to stop there, though. IMO, If they cant take down the exchange through seizing accounts, they will do it in court. This is also going to set a precedent on how they handle the other exchanges dealing in the US as well. http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/evolve, I'm with you. Mostly out of laziness, I had all my trading funds on Mt Gox. That's just too much risk. The recent events left me a bit rushed, so I temporarily pulled things to a local wallet. After spending a few days, I decided to throw a little into CampBX. Their splash screen sent me the message "We get security, and we're gonna play by the rules in the USA". I also read between the lines that they have a strong management team behind them. A smart elevator pitch on entry to their site. A marketing campaign to compel viral growth. My first impression, they're at least giving off the appearance of professionality. I guess time will tell. Yeah, it's clear quite an important amount of coins left Gox. I'm watching this closely, there will be a lot of money to be made when the market reacts to any news like this. Especially on the short side.
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evolve (OP)
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July 02, 2013, 04:59:46 AM Last edit: July 02, 2013, 05:11:05 AM by evolve |
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So how is everyone feeling about the current price move?
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Frozenlock
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July 02, 2013, 05:03:10 AM |
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This feels like a déjà vu.
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