Problems besides mtgox:

[TERA]

Problems besides mtgox:

There seems to be a very narrow minded focus on the forum lately about mtgox. People seem to think that if mtgox' issue was resolved, that bitcoin would go straight to the moon. Let me remind you there are other issues besides mtgox.

I'm not trying to say "sell everything" or "bitcoin crashing to hell" etc. I just want to divert the narrow discussions.

Here is a list I compiled. It might not even be complete. Feel free to add.

1. Final Capitulation
2. PBOC policies still stand in China and no new chinese capital has come suddenly flying in as of Jan 31st/Feb8.
3. Russian ban.
4. Cyprus issues a bank advisory (like China), which leads to at least the perception that btc-e is at serious risk.
5. India
6. Apple removed blockchain app from app store, and the implications that this has about corporate control of what the public eye sees.
7. Major exchanges were able to flashcrash to $100 (indicates weakness)
8. Flaws on Bitfinex have been exploited, traders on Bitfinex have lost money. The staff at Bitfinex showed themselves as bad at responding to issues and unfit to be running an exchange.
9. The exchanges have had large amounts of funds (millions) stolen from them which could lead to potential insolvency or unethical actions in the future (or at least more mistrust in exchanges).
10. A large loss in confidence and trustworthiness in the existing exchange system, for a variety of reasons.
11. The malleability bug and its lasting impact on public trust and confidence in the Bitcoin software even if it gets fixed.
12. Loss of trust in bitcoin foundation board members.
13. Large amounts of hacker coins, which will eventually be dumped for fiat.
14. FBI Silk Road coins (27K or 144K) entering the market (somehow).
15. Men in florida were arrested and received felony money laundering charges for using localbitcoins. Even if it was really due to credit card fraud, it makes the public scared of using LocalBitcoins and casts a bad light on government perception of Bitcoin.
16. Silk Road 2 closed its escrow service.
17. Gox started processing cash withdrawals, fiat is actually exiting the system, and many jaded investors are most likely actually leaving the economy altogether.
18. Btce halted fiat withdrawal.
19. The closure of btc withdrawals by major bitcoin exchanges. (resolved)
20. Major indicators on charts that turned down before the gox crash even began.
21. Gox

[fonzie]

Outstanding work! It looks even worse than i thought. Is there a climax for uber-bear, cause i think i am one from now on.

22. LegitTA says another 30-50% drop about to come in.

Could this thread be declared as sticky. I think everyone especially new bitcoiners should be aware of those problems. Most of them even don´t know about Gox.
Do you claim copyrights on this or is it okay if i send this out to the newspapers and media?  

[traderCJ]

You just gave fonzie a boner.

[fonzie]

 

[knightcoin]

JP Morgan is paying scripts kids to FUD/news

[fonzie]

23. BTC-E BTCwithdrawl issues gettin more and more
     https://bitcointalk.org/index.php?topic=459464.0

[Ibian]

None of those really matter. Fundamentals are still solid, fud just means more time to buy cheap coins.

[fonzie]

None of those really matter. Fundamentals are still solid, fud just means more time to buy cheap coins.

Please stop spamming this thread, only topic related contributions in here!

[Dalmar]

None of those really matter. Fundamentals are still solid, fud just means more time to buy cheap coins.

Cheap coins... stop using that term when every fortnight the price keeps declining by 100 dollars.

[windjc]

Problems besides mtgox:

There seems to be a very narrow minded focus on the forum lately about mtgox. People seem to think that if mtgox' issue was resolved, that bitcoin would go straight to the moon. Let me remind you there are other issues besides mtgox.

I'm not trying to say "sell everything" or "bitcoin crashing to hell" etc. I just want to divert the narrow discussions.

Here is a list I compiled. It might not even be complete. Feel free to add.

1. Final Capitulation
2. PBOC policies still stand in China and no new chinese capital has come suddenly flying in as of Jan 31st/Feb8.
3. Russian ban.
4. Cyprus issues a bank advisory (like China), which leads to at least the perception that btc-e is at serious risk.
5. India
6. Apple removed blockchain app from app store, and the implications that this has about corporate control of what the public eye sees.
7. Major exchanges were able to flashcrash to $100 (indicates weakness)
8. Flaws on Bitfinex have been exploited, traders on Bitfinex have lost money. The staff at Bitfinex showed themselves as bad at responding to issues and unfit to be running an exchange.
9. The exchanges have had large amounts of funds (millions) stolen from them which could lead to potential insolvency or unethical actions in the future (or at least more mistrust in exchanges).
10. A large loss in confidence and trustworthiness in the existing exchange system, for a variety of reasons.
11. The malleability bug and its lasting impact on public trust and confidence in the Bitcoin software even if it gets fixed.
12. Loss of trust in bitcoin foundation board members.
13. Large amounts of hacker coins, which will eventually be dumped for fiat.
14. FBI Silk Road coins (27K or 144K) entering the market (somehow).
15. Men in florida were arrested and received felony money laundering charges for using localbitcoins. Even if it was really due to credit card fraud, it makes the public scared of using LocalBitcoins and casts a bad light on government perception of Bitcoin.
16. Silk Road 2 closed its escrow service.
17. Gox started processing cash withdrawals, fiat is actually exiting the system, and many jaded investors are most likely actually leaving the economy altogether.
18. Btce halted fiat withdrawal.
19. The closure of btc withdrawals by major bitcoin exchanges. (resolved)
20. Major indicators on charts that turned down before the gox crash even began.
21. Gox

And?

That list is shorter than anytime since the inception of bitcoin. Should we make a list about what is going right? Or would that be too fair?

[seleme]

 I wouldn't like to be in trenches with TERA 

[Ibian]

None of those really matter. Fundamentals are still solid, fud just means more time to buy cheap coins.

Cheap coins... stop using that term when every fortnight the price keeps declining by 100 dollars.

Anything below 1k is cheap.

[TERA]

The point is simply I want people to stop talking about 'when gox gets fixed, everything will be fixed, and here's what will happen'.  There was even someone who denied that there were any problems besides mtgox and someone else who said 'if you can't understand why a new ATH will be reached when mtgox opens withdrawals then you shouldn't be trading bitcoin' or something like that.

[windjc]

The point is simply I want people to stop talking about 'when gox gets fixed, everything will be fixed, and here's what will happen'.  There was even someone who denied that there were any problems besides mtgox and someone else who said 'if you can't understand why a new ATH will be reached when mtgox opens withdrawals then you shouldn't be trading bitcoin' or something like that.

Look, the 200 SMA is at 450+ and rising $3 a day. How low do you really think this market is going to go?

If that support gets tested I will buy more and you could make a list 200+ items long and it would not matter.  This last rise was %wise lower than 2011 and April 2013, so I don't figure it's bear wake will be worse.

Then its $0 vs. $10k. Which side are you on? There are only 2.

[TERA]

The point is simply I want people to stop talking about 'when gox gets fixed, everything will be fixed, and here's what will happen'.  There was even someone who denied that there were any problems besides mtgox and someone else who said 'if you can't understand why a new ATH will be reached when mtgox opens withdrawals then you shouldn't be trading bitcoin' or something like that.

Look, the 200 SMA is at 450+ and rising $3 a day. How low do you really think this market is going to go?

If that support gets tested I will buy more and you could make a list 200+ items long and it would not matter.  This last rise was %wise lower than 2011 and April 2013, so I don't figure it's bear wake will be worse.

Then its $0 vs. $10k. Which side are you on? There are only 2.

Still irrelevant. This topic is about the content of discussions and how arguments get constructed regarding mtgox.  "Bitcoin will rally because of these technicals" (like you mentioned) may be a valid argument but  "Bitcoin will rally because mtgox" is not.

[windjc]

The point is simply I want people to stop talking about 'when gox gets fixed, everything will be fixed, and here's what will happen'.  There was even someone who denied that there were any problems besides mtgox and someone else who said 'if you can't understand why a new ATH will be reached when mtgox opens withdrawals then you shouldn't be trading bitcoin' or something like that.

Look, the 200 SMA is at 450+ and rising $3 a day. How low do you really think this market is going to go?

If that support gets tested I will buy more and you could make a list 200+ items long and it would not matter.  This last rise was %wise lower than 2011 and April 2013, so I don't figure it's bear wake will be worse.

Then its $0 vs. $10k. Which side are you on? There are only 2.

Still irrelevant. This topic is about the content of discussions and how arguments get constructed regarding mtgox.  "Bitcoin will rally because of these technicals" (like you mentioned) may be a valid argument but  "Bitcoin will rally because mtgox" is not.

Bitcoin will rally when Gox opens withdrawals is absolutely a valid argument. That doesn't mean bear market reversal, but if you don't think there is a huge Gox weight on the market right now you're fooling yourself.

[TERA]

That doesn't mean bear market reversal.

Thanks.

[Ibian]

The fact is that the world has its eyes on gox. We can fume about that all we want but it won't change. The mal thing will be forgotten in a few weeks, few months at most. China is priced in by now, nobody cares about the Red Menace. It's all gox running the show right now.

[MatTheCat]

There seems to be a very narrow minded focus on the forum lately about mtgox. People seem to think that if mtgox' issue was resolved, that bitcoin would go straight to the moon. Let me remind you there are other issues besides mtgox.

Good stuff. You have been very busy at work. Have you been looking at the charts and feeling tempted to start thinking about going long yet are plagued with a foreboding sense that much more shit is yet to come by any chance? I certainly know that this is how I have been feeling the last few days and no mater how much I want to believe that this market is due for turnaround, something in me is quite convinced that we are still very much in bear season at this point in time, regardless of the idiot Bitcoin cheer-leaders on this site declaring that Bitcoin will be back 2 tha moon just whenever Karpeles gets a new doughnut transplant or whatever.

Now I have a list to back up my largely intuitive opinion that there still be ravenous bears in them woods. More slaughter to come for those who stubbornly HODL in the face of reality.

The point is simply I want people to stop talking about 'when gox gets fixed, everything will be fixed, and here's what will happen'.  There was even someone who denied that there were any problems besides mtgox and someone else who said 'if you can't understand why a new ATH will be reached when mtgox opens withdrawals then you shouldn't be trading bitcoin' or something like that.

There are many benefits to the Bitcoin trader from frequenting this forum, but man, you had better take your anti-Bitcoin Nutter pills beforehand. Although, the value in this false consensus, is that you can bet your bottom dollar that when/if actual good news comes out of Gox, that there will be sharp suckers rally across all exchanges.

[JimboToronto]

That list is shorter than anytime since the inception of bitcoin. Should we make a list about what is going right? Or would that be too fair?

You're wasting your breath trying to be reasonable or "fair".

This thread is a trollfest of those whose "minds" are made up based on limited experience.

Don't take them seriously.

Enjoy the comedy.