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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1805452 times)
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April 11, 2013, 02:54:21 PM
 #21021

i mean they should have done this yesterday when the mess kicked off. Halting it now when they said they had a ddos attack 4 hours ago is just incompetent again. But hopefully they are going to improve something now.

This will only drive the price FURTHER DOWN when the fucking trading resumes... Mark, you are an idiot....

It seems like a catch-22 to me. The lag was already starting to pile up again, and the price accelerated towards 100$. So i guess no matter what they do, they take the risk of inducing another big drop.

I wonder what the guys from MTGOX were doing during the last 20 hours? Were they asleep? Were they sitting there waiting for the problem to fix itself? And why did they only now decide to take action? Puzzling...
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Rampion
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April 11, 2013, 02:54:56 PM
 #21022

Guys: WTF "market cooldown" means?

They are not saying: "system maintenance", or "server upgrade"...

They say market cooldown?

MtGox: market clowndown!

jojo69
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April 11, 2013, 02:55:44 PM
 #21023

Gentlemen,

posting in this thread is suspended until 02:00 zulu when "movement" will resume

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
John Self
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April 11, 2013, 02:58:04 PM
 #21024

Whilst trading on gox is suspended, you are still able to transfer your bitcoins to other sites like https://btc-e.com/ (which has been up during this whole crisis) to buy and sell. I would do it sooner rather than later, the price is plummeting.

14GXJ3Q16PJNNF6v4iyxhvuhacuhvckMym
Piper67
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April 11, 2013, 02:59:13 PM
 #21025

i mean they should have done this yesterday when the mess kicked off. Halting it now when they said they had a ddos attack 4 hours ago is just incompetent again. But hopefully they are going to improve something now.

This will only drive the price FURTHER DOWN when the fucking trading resumes... Mark, you are an idiot....

It seems like a catch-22 to me. The lag was already starting to pile up again, and the price accelerated towards 100$. So i guess no matter what they do, they take the risk of inducing another big drop.

I wonder what the guys from MTGOX were doing during the last 20 hours? Were they asleep? Were they sitting there waiting for the problem to fix itself? And why did they only now decide to take action? Puzzling...

Because they were making more money in fees than ever before. People really, really should stop using MtGox.
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April 11, 2013, 03:01:10 PM
 #21026

Fascinating how the LTC price is "pegged" to BTC after all. Who'd have thunk...

https://localbitcoins.com/?ch=80k | BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
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April 11, 2013, 03:01:34 PM
 #21027

Last time I checked, the network was up. Blocks were being generated at about 6 per hour.

Yesterday during the crash, I withdrew BTC2000 from Mt.Gox in about 2 minutes. Everything worked perfectly. (Do not assume this was my funds as I do have a lot corporate accounts also.)

My business currently generates about 0.15% return on capital daily. Annualized, that is a mind-boggling 72%. As I keep all my funds in silver and bitcoins, the value appreciation comes on top of that. Very seldom can I generate such a return, my average over 10+ years is 15%.

I can still both buy and sell bitcoins for cash, and not long time ago I made a 26% spread on two €1000+ OTC transactions in 1 hour.

Silvervault opened bitcoin accounts for all its customers. Today's price was 40% lower than yesterday, giving a rather low-risk entry point for 800 investors currently 100,000 ounces long in silver. Silvervault can trade your physical silver for bitcoin for a click of a mouse in 190 countries.

--

I think this has been a great week.

I may as well have a weekend effective immediately. If BTCitcoin price somewhere goes to $1 over the weekend so that I can actually buy it (could care less about exchanges that lag or do not allow trading), I will be the first to buy for my entire business income.

If every day I increase my bitcoin holdings by 0.15%, it will take less than 20 years for me to own all the bitcoins.

Sounds like a plan.
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April 11, 2013, 03:03:58 PM
 #21028

Whilst trading on gox is suspended, you are still able to transfer your bitcoins to other sites like https://btc-e.com/ (which has been up during this whole crisis) to buy and sell. I would do it sooner rather than later, the price is plummeting.

worst place to sell, 74 atm ... and very low bids, one could tank it there close to 0 I reckon ...
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April 11, 2013, 03:09:35 PM
 #21029



Terpie
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April 11, 2013, 03:12:04 PM
 #21030

You're crazy to try and sell on another exchange right now. No one can move in any fiat, and ten thousand people are going to be selling into the limited pool of fiat already there.
BitcoinBA
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April 11, 2013, 03:15:59 PM
 #21031

HEY WHY DOES EVERYBODY TAKE CARE ABOUT MTGOX? MTGOX AND BITCOIN DON'T HAVE ANYTHING TO DO WITH EACHOTHER... IT'S JUST ONE STUPID EXCHANGE - ONE OF MANY.... JUST STOP BEEING FIXED ON MTGOX...
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April 11, 2013, 03:16:36 PM
 #21032


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Zomdifros
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April 11, 2013, 03:17:11 PM
 #21033

Well, we are currently in a situation where hardly anyone has any fiat on Bitstamp or Btc-e, yet we all know how easy it is to send bitcoins over there. People are panicking once again and giving away their coins, betting that a 2011 scenario will unfold once again.
 
This might be possible, though I believe a new bear market is unlikely. Of course the press will have a field day over this and declare Bitcoin to be stupid once and for all. The protocol is undamaged though and many people are working on Bitcoin startups which could really change the game.

It might take longer to recover from this situation than usually after a crash, but in the long term Bitcoin remains unchallenged. And we will finally get rid of MtGox.

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April 11, 2013, 03:18:37 PM
 #21034

You're crazy to try and sell on another exchange right now. No one can move in any fiat, and ten thousand people are going to be selling into the limited pool of fiat already there.

Bitstamp is melting down right now. Just picked up some coins for $80 (yeah yeah... I said I was out, but I know cheap coins when I sees them).

Oooops, and they're down.


Help pay for my BTCCharts.com subscription: 1DTannerQHQD7qjSmA3abLQaDkVFLnBGma
drdanishkhan
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April 11, 2013, 03:20:43 PM
 #21035

I think mtgox needs to pay for their pure incompetence.. for 36 hours they did nothing while the prices plummeted.. time to move onto other exchanges..

BTC tip jar 1LrwjfQ41DA9u8PLcQBLp7CueoWotdKshq
Jaques
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April 11, 2013, 03:21:14 PM
 #21036

You're crazy to try and sell on another exchange right now. No one can move in any fiat, and ten thousand people are going to be selling into the limited pool of fiat already there.

this


edit: maybe I was wrong about bid-volume @btc-e

Rampion
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April 11, 2013, 03:23:39 PM
 #21037


only
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Dutyfree.io – defying tobacco taxes since 2009.


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April 11, 2013, 03:26:52 PM
 #21038

I hate people.

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April 11, 2013, 03:29:11 PM
 #21039

We're at around 50 Euros on Bitcoin24 now. What do you expect to happen when gox opens? People will hit sell hoping to get a few of the still standing bids with their coins first and it will crash like a stone dropped from a cliff.

Gox closing doesn't seem to help. Some resistance at 100$ could have formed there, this last chance was lost.

18FoHvM5nfkTyiEC9ScxieMNedh7wwgrG2
Piper67
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April 11, 2013, 03:29:41 PM
 #21040

Last time I checked, the network was up. Blocks were being generated at about 6 per hour.

Yesterday during the crash, I withdrew BTC2000 from Mt.Gox in about 2 minutes. Everything worked perfectly. (Do not assume this was my funds as I do have a lot corporate accounts also.)

My business currently generates about 0.15% return on capital daily. Annualized, that is a mind-boggling 72%. As I keep all my funds in silver and bitcoins, the value appreciation comes on top of that. Very seldom can I generate such a return, my average over 10+ years is 15%.

I can still both buy and sell bitcoins for cash, and not long time ago I made a 26% spread on two €1000+ OTC transactions in 1 hour.

Silvervault opened bitcoin accounts for all its customers. Today's price was 40% lower than yesterday, giving a rather low-risk entry point for 800 investors currently 100,000 ounces long in silver. Silvervault can trade your physical silver for bitcoin for a click of a mouse in 190 countries.

--

I think this has been a great week.

I may as well have a weekend effective immediately. If BTCitcoin price somewhere goes to $1 over the weekend so that I can actually buy it (could care less about exchanges that lag or do not allow trading), I will be the first to buy for my entire business income.

If every day I increase my bitcoin holdings by 0.15%, it will take less than 20 years for me to own all the bitcoins.

Sounds like a plan.

Generally, I agree with you rpietila, but MtGox has become a truly serious problem. Every chance they get to make a choice, they either make the wrong one, or they make the right one but so late as to effectively turn it into the wrong one. You have to agree that this bunch of amateurs does somewhat soil the reputation of Bitcoin for those who don't fully understand that Bitcoin isn't just the exchanges or the exchange rate.

If there is a silver lining to all this, it's that with any luck people will start flocking to other exchanges.

If I were Coinlab, Coinbase, BitPay and Bitinstant, I would seriously consider diversifying.
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