Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22573. (Read 26607011 times)
March 05, 2015, 03:32:44 PM
The US Marshals Service (USMS) has announced that 14 bidders participated in today's auction of 50,000 BTC, worth $13.4m at press time, placing 34 bids over the course of the six-hour event.
The figure was up slightly from the 11 bidders and 27 bids entered in December's auction, but down from the 45 bidders and 63 bids during the first auction in June.
Fair deal imho.
March 05, 2015, 03:31:30 PM
"The US Marshals Service (USMS) has announced that 14 bidders participated in today's auction of 50,000 BTC, worth $13.4m at press time, placing 34 bids over the course of the six-hour event.
The figure was up slightly from the 11 bidders and 27 bids entered in December's auction, but down from the 45 bidders and 63 bids during the first auction in June."
...
so we are like 100 $ down from december and we got +3 bidders.
not so bullish.
The figure was up slightly from the 11 bidders and 27 bids entered in December's auction, but down from the 45 bidders and 63 bids during the first auction in June."
...
so we are like 100 $ down from december and we got +3 bidders.
not so bullish.
March 05, 2015, 03:30:35 PM
Thats a great read.
Before buying my first bitcoin in December of last year I spent probably about three months looking at types of wallets and ways to keep your stash secure. In the end I have opted for the brain/paper wallet methods for my main holding and use online exchanges such as blockchain/coinbase for very small amounts for trading/gambling/purchasing.
I think really security is the BIGGEST problem for most people (even someone like me who is NOT a programmer/hacker but IS very competent on computers) had to really rack my brain with all this security stuff.
Again great read... I am not sure what I would do if I somehow ended up with crazy amounts of bitcoins. I think I would be very paranoid
March 05, 2015, 03:22:41 PM
Look at you creeping up on 270 again. Pretty sneaky, Bitcoiners!
March 05, 2015, 03:12:07 PM
http://www.rre.com/blog/90-why-we-started-abra
Quote
To design Abra we turned to the traditional Hawala model. (...) Traditional Hawala’s are generally illegal in the United States as no one is allowed to hold or remit funds on behalf of someone else without being a licensed money transmitter both with FinCen (the Financial Crimes Enforcement Network) and with the US State regulators where the consumers’ reside. In the case of Abra, however, consumers and Tellers are always holding their own money just as with the standard open source Bitcoin software. Abra Tellers simply buy and sell digital currency directly to and from other consumers in their neighborhood in small amounts.
I am not a lawyer, but that explanation of why Abra is not a money transmitter is seems totally bogus. When you use Western Union, you give your cash to one teller here, and another teller over there gives his cash to the other customer. No cash is actually moving between the two locations, and there may not even be transfers between bank accounts. Yet WU is definitely a money transmitter...
I agree in U.S. Law such a service is absolutely a money xmitter business, but what if the tellers are in the receiving country only? Anyone can legally buy bitcoin in the U.S. and send it to anyone they want (except drug dealers, terrorists, etc). Migrant worker remittances usually only flow one way: from the rich country to families in a poorer country. It would be foolish for those poorer countries' governments to discourage a more efficient remittance option. It just sucks money out of their economy to do so.
March 05, 2015, 03:11:08 PM
With the next auction of DPR's 50,000BTC coming up in March I expect most of the coins to be sold much lower than market price and I also expect a huge dump after the coins from the auctions are dispersed. We may even see sub $150 coins at that time. I highly doubt any good positive gains until at least a few weeks after the auction. Most people won't take that chance of getting dumped on.
auction will be a non-event. nothing will happen at all.
###
March 05, 2015, 02:59:18 PM
March 05, 2015, 02:35:14 PM
I am not a lawyer, but that explanation of why Abra is not a money transmitter is seems totally bogus. When you use Western Union, you give your cash to one teller here, and another teller over there gives his cash to the other customer. No cash is actually moving between the two locations, and there may not even be transfers between bank accounts. Yet WU is definitely a money transmitter...
I think you miss the nuance of their argument, in that they see you going to the ABRA teller, and paying $100 to her for 100 flubbits*. You send the flubbits via your mobile phone and your friend recieves them. She then takes the flubbits to ABRA who then give $100 for them. Simples! :-) Its a bit of a reversal, like "In soviet russia, Money Wire You!!"
* or whatever made up thing you want.
But, yeah, you are right. The FED's will eat them up for breakfast. But the concept is going in the right direction.
March 05, 2015, 02:33:46 PM
Scaling in a bit more long on this dip.
lol at that dip: Oh no! it didn't rally within 5 minutes of the auction close?!? Panic Sell!!! Wait, I didn't wait long enough? Panic buy!!!
lol at that dip: Oh no! it didn't rally within 5 minutes of the auction close?!? Panic Sell!!! Wait, I didn't wait long enough? Panic buy!!!
mmmmmmmm....no......
Sell the rumor, buy the news. The auction is over.
March 05, 2015, 02:30:13 PM
Scaling in a bit more long on this dip.
lol at that dip: Oh no! it didn't rally within 5 minutes of the auction close?!? Panic Sell!!! Wait, I didn't wait long enough? Panic buy!!!
lol at that dip: Oh no! it didn't rally within 5 minutes of the auction close?!? Panic Sell!!! Wait, I didn't wait long enough? Panic buy!!!
mmmmmmmm....no......
March 05, 2015, 02:28:43 PM
Quote
At what point can the long-term downtrend be considered 'over'?
Depends who you ask, and what count they have in mind (if they use EW)
Depends also on what is meant by "long term downtrend being over". The old downtrend could be over, but be replaced by another one, maybe less severe (i.e. a different downwards channel). Or it could end, but not be immediately followed by a much more bullish market either (i.e. bottom is in, but it's not rally time yet). There are several ways to look at it...
Anyway, I don't have a fixed target at which I would conclude with certainty that the bear market is over, or let's say, that target is so high, I wouldn't want to wait until we reach it before buying back. That target would be roughly: close above weekly SMA20, supported by volume, possibly followed by consolidation or minor retracement not further than the SMA, followed by a trend reaching for upper weekly BB (high 300s to 400).
Thanks. A little more technical than I was expecting, but still
@coinableS: what would your criteria be?
I'd say that we need to above this long term trend line for longer than just a few days before we can say we are out of the bear market. Things look promising but just a $20 swing can put is back in the downtrend. Just look at May last year, things looked good, but then we went straight back down. If we're still moving up and above the trend line April 15th then I'd be pretty convinced we're out.
March 05, 2015, 02:20:59 PM
Scaling in a bit more long on this dip.
lol at that dip: Oh no! it didn't rally within 5 minutes of the auction close?!? Panic Sell!!! Wait, I didn't wait long enough? Panic buy!!!
lol at that dip: Oh no! it didn't rally within 5 minutes of the auction close?!? Panic Sell!!! Wait, I didn't wait long enough? Panic buy!!!
March 05, 2015, 02:16:31 PM
Quote
At what point can the long-term downtrend be considered 'over'?
Depends who you ask, and what count they have in mind (if they use EW)
Depends also on what is meant by "long term downtrend being over". The old downtrend could be over, but be replaced by another one, maybe less severe (i.e. a different downwards channel). Or it could end, but not be immediately followed by a much more bullish market either (i.e. bottom is in, but it's not rally time yet). There are several ways to look at it...
Anyway, I don't have a fixed target at which I would conclude with certainty that the bear market is over, or let's say, that target is so high, I wouldn't want to wait until we reach it before buying back. That target would be roughly: close above weekly SMA20, supported by volume, possibly followed by consolidation or minor retracement not further than the SMA, followed by a trend reaching for upper weekly BB (high 300s to 400).
Thanks. A little more technical than I was expecting, but still
@coinableS: what would your criteria be?
March 05, 2015, 02:15:36 PM
http://www.rre.com/blog/90-why-we-started-abra
Quote
To design Abra we turned to the traditional Hawala model. (...) Traditional Hawala’s are generally illegal in the United States as no one is allowed to hold or remit funds on behalf of someone else without being a licensed money transmitter both with FinCen (the Financial Crimes Enforcement Network) and with the US State regulators where the consumers’ reside. In the case of Abra, however, consumers and Tellers are always holding their own money just as with the standard open source Bitcoin software. Abra Tellers simply buy and sell digital currency directly to and from other consumers in their neighborhood in small amounts.
I am not a lawyer, but that explanation of why Abra is not a money transmitter is seems totally bogus. When you use Western Union, you give your cash to one teller here, and another teller over there gives his cash to the other customer. No cash is actually moving between the two locations, and there may not even be transfers between bank accounts. Yet WU is definitely a money transmitter...
March 05, 2015, 02:14:46 PM
Pain will be over in 25 minutes. After that, big buys coming.
I was also thinking we might see a small "end of auction bid window" rally.
Frequently, i have been of the impression that most of the bids are going to be "in" several hours before the end time of the auction, so in the last hour or two, there remains NO real incentive or motive to continue to drive the price down.
NOW, whether we witness any kind of "rally" is another story, because questions will arise concerning whether any news that may leak regarding the direction of the bids, whether they were above, below or at existing market price.
March 05, 2015, 02:12:33 PM
What happened with the acution???...
btw, ltc has more profit potential than btc especially with halving in July
btw, ltc has more profit potential than btc especially with halving in July
March 05, 2015, 02:11:36 PM
http://www.cnbc.com/id/102480336
Billionaire venture capitalist Tim Draper said he would be a bidder. "Probably the best deal anyone will get," said Draper on Thursday in an email to Reuters.
Thank you Tim
Billionaire venture capitalist Tim Draper said he would be a bidder. "Probably the best deal anyone will get," said Draper on Thursday in an email to Reuters.
Thank you Tim
talking like a true bag holder!
after buying at 600 you can bet that 250 $ is a steal.
March 05, 2015, 02:11:35 PM
http://www.cnbc.com/id/102480336
Billionaire venture capitalist Tim Draper said he would be a bidder. "Probably the best deal anyone will get," said Draper on Thursday in an email to Reuters.
Thank you Tim
Billionaire venture capitalist Tim Draper said he would be a bidder. "Probably the best deal anyone will get," said Draper on Thursday in an email to Reuters.
Thank you Tim
The regular players announced their intent to bid: Tim Draper, SecondMarket, Pantera Capital. Hodlers not dumpers.
March 05, 2015, 02:07:41 PM
http://www.cnbc.com/id/102480336
Billionaire venture capitalist Tim Draper said he would be a bidder. "Probably the best deal anyone will get," said Draper on Thursday in an email to Reuters.
Thank you (in advance) Tim
Billionaire venture capitalist Tim Draper said he would be a bidder. "Probably the best deal anyone will get," said Draper on Thursday in an email to Reuters.
Thank you (in advance) Tim
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