The Bear Market is officially...OFF?!? - page 5.

evolve

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Quote from: old_engineer on May 15, 2013, 03:53:13 PM

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/

ElectricMucus

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Quote from: evolve on May 15, 2013, 03:45:54 PM

Quote from: ElectricMucus on May 15, 2013, 03:36:01 PM

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.

old_engineer

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Quote from: evolve on May 15, 2013, 03:42:13 PM

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.

evolve

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Quote from: samson on May 15, 2013, 03:45:10 PM

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...

evolve

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Quote from: ElectricMucus on May 15, 2013, 03:36:01 PM

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.

samson

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Quote from: evolve on May 15, 2013, 03:42:13 PM

Quote from: samson on May 15, 2013, 03:37:41 PM

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.

evolve

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Quote from: samson on May 15, 2013, 03:37:41 PM

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.

samson

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Quote from: evolve on May 15, 2013, 03:31:52 PM

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.

ElectricMucus

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Quote from: evolve on May 15, 2013, 03:31:52 PM

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.

evolve

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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.

Rampion

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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.

molecular

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Quote from: evolve on May 14, 2013, 05:37:56 PM

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.

notme

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Quote from: kooke on May 14, 2013, 10:03:40 PM

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! Tongue

If this is the end of the old order, wouldn't we want to buy all the bitcoins?

kooke

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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! Tongue

ElectricMucus

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Now I see it. Shocked

kooke

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Quote from: ElectricMucus on May 14, 2013, 05:44:46 PM

Next support @97.5

Is it just me, or does any else see a dragon in that chart?

smoothie

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Quote from: Streets 2.0 on May 14, 2013, 09:10:41 PM

Quote from: smoothie on May 14, 2013, 09:06:14 PM

Quote from: gizmoh on May 14, 2013, 07:56:06 PM

Quote from: smoothie on May 14, 2013, 07:24:44 PM

Quote from: Brushan on May 14, 2013, 07:10:24 PM

We're probably entering a decline that will last for days if not weeks.

As much of a bull that I am...i tend to agree with this.

Take some profit guys. Just saying. Or be patient.

At last common sense from smoothie Wink

Pfssh I've got common sense even when I'm a super ultra bull lol.

What I post on this forum isn't necessarily what I am doing in person lol.

Dont be fooled so easily.

But take some profit. Tongue

Smoothie has like 12 accounts!

As it started, I was driving and I went all ape shit!

This coming form a guy who created his account on April 23, 2013.

LOL yeah i have 12 accounts and I create them every 2 years lol

Miz4r

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I'm not so sure this will last several days, I think the market may be overreacting to the dwolla news. When things are cleared up and it turns out it isn't as bad as it seems then price will shoot back up fast I think. Or perhaps it's really that bad after all, but my gut tells me that it is an overreaction and people assume the worst due to lack of information.

Streets 2.0

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Quote from: smoothie on May 14, 2013, 09:06:14 PM

Quote from: gizmoh on May 14, 2013, 07:56:06 PM

Quote from: smoothie on May 14, 2013, 07:24:44 PM

Quote from: Brushan on May 14, 2013, 07:10:24 PM

We're probably entering a decline that will last for days if not weeks.

As much of a bull that I am...i tend to agree with this.

Take some profit guys. Just saying. Or be patient.

At last common sense from smoothie Wink

Pfssh I've got common sense even when I'm a super ultra bull lol.

What I post on this forum isn't necessarily what I am doing in person lol.

Dont be fooled so easily.

But take some profit. Tongue

Smoothie has like 12 accounts!

As it started, I was driving and I went all ape shit!

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: gizmoh on May 14, 2013, 07:56:06 PM

Quote from: smoothie on May 14, 2013, 07:24:44 PM

Quote from: Brushan on May 14, 2013, 07:10:24 PM

We're probably entering a decline that will last for days if not weeks.

As much of a bull that I am...i tend to agree with this.

Take some profit guys. Just saying. Or be patient.

At last common sense from smoothie Wink

Pfssh I've got common sense even when I'm a super ultra bull lol.

What I post on this forum isn't necessarily what I am doing in person lol.

Dont be fooled so easily.

But take some profit. Tongue

Topic: The Bear Market is officially...OFF?!? - page 5. (Read 29273 times)