The rise has stopped..

[YipYip]

Can someone tell me where these rumours about Bitstamp being insolvent came from & is there even a remote possibility that it's true?

Not sure and not sure... lol.

I am bored at work...  we need more pictures in the memespeculation thread.

+1000 I agreee every 1$ movement of btc should be acommpied by a funny/enetertaining/informative meme

[YipYip]

Can someone tell me where these rumours about Bitstamp being insolvent came from & is there even a remote possibility that it's true?

There are zero reasons to assume Bitstamp is insolvent.

What is happening though is a rather over zealous KYC/AML policy which asks rather probing questions such as proof of funds. This in itself is not a problem IF its in the TOS and people can expect it.

Whats not okay is people selling coins thinking they are verified (it even tells you on your account you are verified) and then having their funds held hostage until they pass all the procedures.

Overall its just about making things clearer but they are likely just covering their ass. Naturally people jump way far ahead of themselves and start making wild presumptions.

man this is so yesterdays news (actually about 12 weeks ago news)

SO we have some noobs or others that are starting to hit the AML/KYC limits for a normal account ( i think its about 75k in trade for a period of time)

So its actually a bullish sign that many are trying to get funds onto stamp..

Also i will say the same thing i have said to many ANSWER THE FUCKING KYC or go launder your drug money on kraken or btc-e

There are other options ...this factor is known about stamp and will also mean that they will be in a worst case senario the last man standing

[Benjig]

Lol, the rise just stopped for a few hours, you dont want to have a 500 rise in one day, that generates bubbles, is better to have a rise of 50-70 every three days or so.

[keithers]

Opinions..?  We've stopped at 580... Roomers about inc heavey BTC drop because bitstamp is insolvent..? 

A BTC run up before the bottom falls out?
The next BTC bubble?

This is actually good in my opinion.   Don't get me wrong, I love seeing the prices skyrocket.   But whenever we see steep price hikes, they are almost always followed by sharp market corrections.   This is because of people wanting to take profits off the table, as well as those who were just waiting to finally break even to cash out.   Growth like we have seen in the past few days is better IMO because slow growth is more sustainable.

It would be much better for the overall market to go up $10/day for 10 days straight (and then just stay there for the following 10 days)... then to skyrocket up $100 in one day, causing a sell off to follow...

[Arghhh]

Nothing screams weak hands like a thread like this.

[wachtwoord]

It has paused.

[keithers]

Lol, the rise just stopped for a few hours, you dont want to have a 500 rise in one day, that generates bubbles, is better to have a rise of 50-70 every three days or so.

I think as a blanket statement, the majority of people that are hoping for single day astronomical price increases, are typically holding only a few BTC max.   Those who have a significant stake in BTC, would obviously like more moderate sustainable growth...

[RockHound]

Can someone tell me where these rumours about Bitstamp being insolvent came from & is there even a remote possibility that it's true?

There are zero reasons to assume Bitstamp is insolvent.

What is happening though is a rather over zealous KYC/AML policy which asks rather probing questions such as proof of funds. This in itself is not a problem IF its in the TOS and people can expect it.

Whats not okay is people selling coins thinking they are verified (it even tells you on your account you are verified) and then having their funds held hostage until they pass all the procedures.

Overall its just about making things clearer but they are likely just covering their ass. Naturally people jump way far ahead of themselves and start making wild presumptions.

Well said! I completed BStamp questionnaire in December last year, I think they send out once you've request deposits/withdrawals up to a certain level ($75K?). Was straight forward to complete/send back. Resolved in 2 days.  

[YipYip]

Can someone tell me where these rumours about Bitstamp being insolvent came from & is there even a remote possibility that it's true?

There are zero reasons to assume Bitstamp is insolvent.

What is happening though is a rather over zealous KYC/AML policy which asks rather probing questions such as proof of funds. This in itself is not a problem IF its in the TOS and people can expect it.

Whats not okay is people selling coins thinking they are verified (it even tells you on your account you are verified) and then having their funds held hostage until they pass all the procedures.

Overall its just about making things clearer but they are likely just covering their ass. Naturally people jump way far ahead of themselves and start making wild presumptions.

Well said! I completed BStamp questionnaire in December last year, I think they send out once you've request deposits/withdrawals up to a certain level ($75K?). Was straight forward to complete/send back. Resolved in 2 days.  

My friend opened a corporate trading account in 4 hours ..It did take us 4 hours to prepare & collate all of our forms but it was a simple process

The more we discuss this the more It fills me with confidence

stamp the rock that is the foundation

[Marbit]

Looking at the last couple legs of this rise, we are consolidating pretty similarly. Kind of expecting another move upwards soon, but maybe I am getting faked out and will just lose some money, LOL. We'll see I guess.

[zoinky]

You can feel the bears grasping at straws.   

[keithers]

Looking at the last couple legs of this rise, we are consolidating pretty similarly. Kind of expecting another move upwards soon, but maybe I am getting faked out and will just lose some money, LOL. We'll see I guess.

I think right now it is best to stay put with what you are holding. I think we are going to see some more gains, but I am not confident enough to throw more money at it. On the same token, I won't currently be selling off any of my holdings either.

[MatTheCat]

I think right now it is best to stay put with what you are holding. I think we are going to see some more gains, but I am not confident enough to throw more money at it. On the same token, I won't currently be selling off any of my holdings either.

.....until the leveraged longs start to sell off and you move to maximise gains?

[dreamspark]

Can someone tell me where these rumours about Bitstamp being insolvent came from & is there even a remote possibility that it's true?

There are zero reasons to assume Bitstamp is insolvent.

What is happening though is a rather over zealous KYC/AML policy which asks rather probing questions such as proof of funds. This in itself is not a problem IF its in the TOS and people can expect it.

Whats not okay is people selling coins thinking they are verified (it even tells you on your account you are verified) and then having their funds held hostage until they pass all the procedures.

Overall its just about making things clearer but they are likely just covering their ass. Naturally people jump way far ahead of themselves and start making wild presumptions.

man this is so yesterdays news (actually about 12 weeks ago news)

SO we have some noobs or others that are starting to hit the AML/KYC limits for a normal account ( i think its about 75k in trade for a period of time)

So its actually a bullish sign that many are trying to get funds onto stamp..

Also i will say the same thing i have said to many ANSWER THE FUCKING KYC or go launder your drug money on kraken or btc-e

There are other options ...this factor is known about stamp and will also mean that they will be in a worst case senario the last man standing

I still think your missing the point. People keep saying this is old news and yes the questionnaire is. What is now being discussed is being asked for proof of funds even to the point of being asked to sign personal bitcoin addresses. This is above and beyond any normal kyc and aml that most don't have a problem with.

Also no offence but saying things like answer the kyc or launder your drug money elsewhere makes you sound as bad as the people who say btc is just for drugs and other nefarious activities.

There are plenty of reasons not to want to go through the over intrusive procedure they are now carrying out. For some it just goes against their principles which no one can argue with as it's their opinion. also I think one of the big things and what made me not want to send them copies of bank statement etc is if companies like eBay and Adobe can't keep personal info safe why are people going to send passport scans and bank statement to a third party bitcoin exchange? I bet some of the people who sent sensitive info into gox are pretty unhappy about their data being stolen now in hindsight.

I don't see how people can not call it morally wrong when none of this is in the tos and can be prune upon you st any time. Now if you have made a trade and are trying to withdraw fiat, you have two options either jump through whatever hoops to get your withdrawal or buy back the coins maybe at a loss. Those shouldn't be the choices it should be laid out that they are doing it anf giving everyone fair chance to make their own decision.

[ranlo]

Opinions..?  We've stopped at 580... Roomers about inc heavey BTC drop because bitstamp is insolvent..? 

A BTC run up before the bottom falls out?
The next BTC bubble?

This is actually good in my opinion.   Don't get me wrong, I love seeing the prices skyrocket.   But whenever we see steep price hikes, they are almost always followed by sharp market corrections.   This is because of people wanting to take profits off the table, as well as those who were just waiting to finally break even to cash out.   Growth like we have seen in the past few days is better IMO because slow growth is more sustainable.

It would be much better for the overall market to go up $10/day for 10 days straight (and then just stay there for the following 10 days)... then to skyrocket up $100 in one day, causing a sell off to follow...

I'm completely with you on this. People love the quick increase because it lets them sell off and they can be fairly certain that the prices are going to drop after and they can buy back in cheaper. I'm personally all for the growth, rather than the quit increase/decrease.

[MatTheCat]

I still think your missing the point. People keep saying this is old news and yes the questionnaire is. What is now being discussed is being asked for proof of funds even to the point of being asked to sign personal bitcoin addresses. This is above and beyond any normal kyc and aml that most don't have a problem with.

Also no offence but saying things like answer the kyc or launder your drug money elsewhere makes you sound as bad as the people who say btc is just for drugs and other nefarious activities.

There are plenty of reasons not to want to go through the over intrusive procedure they are now carrying out. For some it just goes against their principles which no one can argue with as it's their opinion. also I think one of the big things and what made me not want to send them copies of bank statement etc is if companies like eBay and Adobe can't keep personal info safe why are people going to send passport scans and bank statement to a third party bitcoin exchange? I bet some of the people who sent sensitive info into gox are pretty unhappy about their data being stolen now in hindsight.

I don't see how people can not call it morally wrong when none of this is in the tos and can be prune upon you st any time. Now if you have made a trade and are trying to withdraw fiat, you have two options either jump through whatever hoops to get your withdrawal or buy back the coins maybe at a loss. Those shouldn't be the choices it should be laid out that they are doing it anf giving everyone fair chance to make their own decision.

I read the above post, but I couldn't bare to read the post from Yip Yip which you had quoted.

Ever heard of the saying, 'Bullshit Baffles Brains'? Don't credit Yip Yip's bullshit with a credible response. You will just end up bamboozled.


I didn't know that they are now asking me to sign my Bitcoin addresses. Holy Phuck! Are they really even limiting Bitcoin withdrawals/deposits with their KYC bullshit!?

Fuck those Slovak Cunts!

(I still have a small amount in Bitstamp which I use to play around with, I always assumed that I would be able to get it out without the anal probe treatment they expect if I want to withdraw or deposit money)

[YipYip]

Can someone tell me where these rumours about Bitstamp being insolvent came from & is there even a remote possibility that it's true?

There are zero reasons to assume Bitstamp is insolvent.

What is happening though is a rather over zealous KYC/AML policy which asks rather probing questions such as proof of funds. This in itself is not a problem IF its in the TOS and people can expect it.

Whats not okay is people selling coins thinking they are verified (it even tells you on your account you are verified) and then having their funds held hostage until they pass all the procedures.

Overall its just about making things clearer but they are likely just covering their ass. Naturally people jump way far ahead of themselves and start making wild presumptions.

man this is so yesterdays news (actually about 12 weeks ago news)

SO we have some noobs or others that are starting to hit the AML/KYC limits for a normal account ( i think its about 75k in trade for a period of time)

So its actually a bullish sign that many are trying to get funds onto stamp..

Also i will say the same thing i have said to many ANSWER THE FUCKING KYC or go launder your drug money on kraken or btc-e

There are other options ...this factor is known about stamp and will also mean that they will be in a worst case senario the last man standing

I still think your missing the point. People keep saying this is old news and yes the questionnaire is. What is now being discussed is being asked for proof of funds even to the point of being asked to sign personal bitcoin addresses. This is above and beyond any normal kyc and aml that most don't have a problem with.

Also no offence but saying things like answer the kyc or launder your drug money elsewhere makes you sound as bad as the people who say btc is just for drugs and other nefarious activities.

There are plenty of reasons not to want to go through the over intrusive procedure they are now carrying out. For some it just goes against their principles which no one can argue with as it's their opinion. also I think one of the big things and what made me not want to send them copies of bank statement etc is if companies like eBay and Adobe can't keep personal info safe why are people going to send passport scans and bank statement to a third party bitcoin exchange? I bet some of the people who sent sensitive info into gox are pretty unhappy about their data being stolen now in hindsight.

I don't see how people can not call it morally wrong when none of this is in the tos and can be prune upon you st any time. Now if you have made a trade and are trying to withdraw fiat, you have two options either jump through whatever hoops to get your withdrawal or buy back the coins maybe at a loss. Those shouldn't be the choices it should be laid out that they are doing it anf giving everyone fair chance to make their own decision.

After all the problems that crypto business have had with banks due to the total asshats that have been in so called scams ..oops business

They are what we call in the business "COVERING THEIR ARSE"
 so they dont
 
KILL THE GOLDEN GOOSE

[Marbit]

I think right now it is best to stay put with what you are holding. I think we are going to see some more gains, but I am not confident enough to throw more money at it. On the same token, I won't currently be selling off any of my holdings either.

.....until the leveraged longs start to sell off and you move to maximise gains?

Yeah I think there will be some serious profit taking above 600. I'm hoping to sell most around 620-625 then watch to see where we go from there. Gotta have a correction sometime.... right?

[ranlo]

I think right now it is best to stay put with what you are holding. I think we are going to see some more gains, but I am not confident enough to throw more money at it. On the same token, I won't currently be selling off any of my holdings either.

.....until the leveraged longs start to sell off and you move to maximise gains?

Yeah I think there will be some serious profit taking above 600. I'm hoping to sell most around 620-625 then watch to see where we go from there. Gotta have a correction sometime.... right?

It's going to continue through each of the $50 marks (700, 750, 800) and will really be hitting at $1k and $1.2k (1k due to it being a thousand mark, and 1.2k since that's the ATH). The higher we get, the more resistance we're going to hit. But someone with enough money could blast through all of those without any issue.

[MatTheCat]

Yeah I think there will be some serious profit taking above 600. I'm hoping to sell most around 620-625 then watch to see where we go from there. Gotta have a correction sometime.... right?

I am not at this moment seeing where the momentum to take us up into the lower $600's is coming from. Who wants to buy-in at the peak of Wave 5?

Right now, I suspect that those who got in early on the ramp up are still holding, but those not in aren't wanting to risk coming in at this point in time. All the while, volume is pulling back and we are forming an ending diagonal formation and have some negative divergence on short term (less than 1 day) RSI, and don't forget, these days the USD market leader is Bitfinex (who route trades through Bitstamp for increased liquidity) and the majority of their volume is leveraged volume. Traders using leverage can't be holding in a flat market. They will take profits. Same with all the CNY exchanges. All highly leveraged.

I will stick my neck out and say that we are as far up the ladder as we are going to get for now, give or take $10 or so. I think we will correct a good bit from here, but nothing too brutal. my medium term outlook is that Bitcoin will go up a bit yet overall.