Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23532. (Read 26713657 times)

Someone should tell Gavin to limit his public appearances and stick to CIA meetings.
Its a little like Elon Musk saying TSLA is overvalued "market cap is kinda high right now..." lol

Bump for Jorge's attention.

I'm quoting you on this Jorge, and I'm going to completely throw it in your face in the future during the next bubble when the Chinese Govt and the PBoC starts up again with more threats of banning and other such nonsense.  They only care about popping supposed bubbles in their crap shadow Ponzi economy, that is all.

If you love the technology it doesn't matter what the price in USD because the technology is free  

The big problem is 100000 people bought bitcoins off 10000 people and made them super rich   this incentivised 1000000 to buy the coins off them so their coins 2 da mooned.

Many people didn't stop to consider where the next wave was coming from because they're thick as shit and blind greedy! Kama for suing Zuckerberg Winklevosses he's a business genius you're not

And the irony is that they sold only 50'000 of the 145'000 coins in the last auction because they did not want to disturb the market too much.

I did too when I woke up
Atleast I slept while we touched $150 but I suspect we will be going down again in a couple days

Since the Nov/2013 bubble I saw only two articles where the reporter actually bothered to find out who were the Chinese who created it by buying all those coins.  Not in the bitcoin media, of course. (The most informative one was in the Christian Science Monitor, of all places.)  

The Chinese who have been setting the price of bitcoin were day-trading funny commodities before, as a form of gambling.  They just moved to a new asset that was a lot more volatile, and did not have complicating isssues like quality grades, location, shelf time, etc. (all hail to 'fungibility').

So, my guess is that the Chinese government does not care anymore about what happens on the exchanges, because it is no different than what was happening before bitcoin, with the speculation in those commodities.

The PBoC does not care any more, because bitcoin trading is confined to the exchanges, and cannot interfere with the role of the yuan in e-commece and with the banking and financial sectors -- which is what they care about.  Some other parts of the government were concerned with criminal use of bitcoin, but the exchanges got scared into fully cooperating with the police through AML/KYC.  I believe that they also got a scolding from some other sector of the government about their attempts to market bitcoin to the masses, so they pulled back on that too -- no more sponsoring of bitcoin conferences, and no more open houses featuring the Bitcoin Goddess.

In short, the Chinese government must now be worried about the fairness of bitcoin exchanges to the same degree that they worry about the fairness of the casino tables in Macau.  That is, not at all.

Could it not be also because Gavin warned people to stay away from bitcoin (it's dangerous) and compared it to the dotcom bubble... Just a thought 

agree, theft is a big issue in this downtrend and resulting crash. nevertheless i am not so sure about exchanges being safer today. only stamp has implemented multisig for example.

I'm pretty happy, though I'd enjoy this more if the pace picked up a bit.  -15% in 24 hours is pretty meh.


Aha.  Well, we could easily verify this with blockchain, the public ledger.  O wait...


Sorta.  They're selling you your coins back, so that they could steal them again, rinse, and repeat.


Yup.  Bitstamp.  Run by a couple of mature-for-their-age Slovenian kids. Hax0rd about a week ago for a few mil.

Bitfinex

Bitstamp

Explanation

I'm sure that it's good that this drop is happening. Drop is caused by large influx of stolen coins (probably from Gox theft) to exchanges. In some way, scammers are returning stolen coins to community. When they are done, community will control those coins and things will be more stable and optimistic, unless some other bitcoin company is hacked, but I'm sure that they got more mature by now.

For Emperor Nakamoto!

It will reverse at some point. Sub $10 is nice thinking but not realistic within a short time frame. Nothing goes down in a straight line, so even if we reach $10, it will take some time to get there. I agree that the bottom with most probably be tested once more.

Yep that's the way I see it, the whole crypto world needed a good shake up and hopefully something good is going to emerge from all of this. Not going to speculate that just yet lol

If ya have BTC now,,, Just hold on tight and forget its there.. especially if you bought in significantly higher. Let this play out.  

Or it is a great time to get it while its cheap lol

buy buy buy buy

The end?

Well some people try to pick up girls
And get called assholes
This never happened to Pablo Picasso
He could walk down your street
And girls could not resist his stare
Consequently, Pablo Picasso was never called an asshole

Well the girls would turn the color
Of the avocado when he would drive
Down their street in his El Dorado
He could roll down the street
And girls could not resist his stare
Pablo Picasso never got called an asshole
Not like you
Alright

Well, I'm not sure that a trend reversal is going to happen anymore like it did back in the day, with a sharp high volume bounce and then sudden steady buying.  It could end up being a drift sideways and slightly up for months that finally signals that was the bottom.  Or no reversal at all, just sideways drift for months.

Another thing that has gone on with this downturn is the length of time, the longest in Bitcoin history.  After 14 months of down, even the hardcore bulls are skittish to start buying again.