Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28834.

Zapffe

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Quote from: adamstgBit on March 18, 2014, 09:53:31 AM

its not LTC that overstock accepts as payment poeple...

The overstock news have been a gimmick when considering the price anyway.
People buying things through bitpay -> bitpay converting BTC to dollars -> BTC price lowers.

It's not healthy to create illusions that crypto price has currently much to do with utility. The main attraction and the main factor for the price is speculation. Price rises because people buy and people buy because they expect the price to rise.

N12

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Quote from: jl2012 on March 18, 2014, 10:03:54 AM

Quote from: N12 on March 18, 2014, 09:52:12 AM

Quote from: Walsoraj on March 18, 2014, 09:09:54 AM

http://online.wsj.com/news/articles/SB10001424052702303563304579447020246651110

Quote

The Treasury Department will come after the many digital currency exchanges and administrators that haven't registered with the Financial Crimes Enforcement Network, the Department's top official for terrorism and financial intelligence said Tuesday.

Goodbye, Bitstamp and BTC-E.

AFAIK Bitstamp and BTC-E neither operate nor have any bank account in US

What does it matter? They serve US customers without following the regulations, and the US has global power.

Shak

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Quote from: N12 on March 18, 2014, 09:52:12 AM

Quote from: Walsoraj on March 18, 2014, 09:09:54 AM

http://online.wsj.com/news/articles/SB10001424052702303563304579447020246651110

Quote

The Treasury Department will come after the many digital currency exchanges and administrators that haven't registered with the Financial Crimes Enforcement Network, the Department's top official for terrorism and financial intelligence said Tuesday.

Goodbye, Bitstamp and BTC-E.

since they are not us-based, does it matter? it's more like a "goodbye, US, until you get your own exchange"

jl2012

legendary

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Quote from: N12 on March 18, 2014, 09:52:12 AM

Quote from: Walsoraj on March 18, 2014, 09:09:54 AM

http://online.wsj.com/news/articles/SB10001424052702303563304579447020246651110

Quote

The Treasury Department will come after the many digital currency exchanges and administrators that haven't registered with the Financial Crimes Enforcement Network, the Department's top official for terrorism and financial intelligence said Tuesday.

Goodbye, Bitstamp and BTC-E.

AFAIK Bitstamp and BTC-E neither operate nor have any bank account in US

FTWbitcoinFTW

sr. member

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Quote from: adamstgBit on March 18, 2014, 10:00:52 AM

Quote from: JorgeStolfi on March 18, 2014, 09:58:11 AM

Quote from: adamstgBit on March 18, 2014, 09:53:31 AM

its not LTC that overstock accepts as payment people...

If I recall correctly, Overstock's CEO invested heavily in bitcoin, Was that from his pocket, or through the company?

where did you get that?

From himself : http://www.reddit.com/r/Bitcoin/comments/1wo1pf/overstock_ceo_reveals_he_now_holds_millions_in/

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

adamstgBit

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Trusted Bitcoiner

Quote from: JorgeStolfi on March 18, 2014, 09:58:11 AM

Quote from: adamstgBit on March 18, 2014, 09:53:31 AM

its not LTC that overstock accepts as payment people...

If I recall correctly, Overstock's CEO invested heavily in bitcoin, Was that from his pocket, or through the company?

where did you get that?

just buy a bitcoin Jorge...

JorgeStolfi

hero member

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Quote from: adamstgBit on March 18, 2014, 09:53:31 AM

its not LTC that overstock accepts as payment people...

If I recall correctly, Overstock's CEO invested heavily in bitcoin, Was that from his pocket, or through the company?

Threebits

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Quote from: JorgeStolfi on March 18, 2014, 09:36:04 AM

I suppose that BIT may be tempted try to drive the BTC price down before enabling liquidity, because then they would have to pay less USD to the investors who liquidate. In that "plan", BIT would later buy back those coins on-market to drive the price back up. I don't know whether this would work; it may push more investors to liquidate and may scare new investors (not that they have many now it seems). Note that this manipulation is possible with bitcoin due to the limited liquidity of the exchanges.

Does this make sense?

EDIT: typo

I don't understand why BIT wish to drive price down and then liquidate their bitcoins. This undermines their customers and does no good for themselves. Or I'm not smart enough to understand what is it ?

adamstgBit

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its not LTC that overstock accepts as payment poeple...

UnDerDoG81

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Quote from: adamstgBit on March 18, 2014, 09:46:42 AM

I did this a long time ago....

not about to make this mistake again Tongue

We all did that :-D

bassclef

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Quote from: elebit on March 18, 2014, 09:50:07 AM

Quote from: bassclef on March 18, 2014, 09:34:14 AM

LTC does add faster confirmation times, and its Scrypt algorithm is more resistant to ASICs. That's pretty much it.

The faster confirmation times is pretty much exactly negated by the fact that you need more confirmations with LTC to be reasonably secure against forks.

True but most people don't know that, or even why x amount of confirms are necessary in the first place.

Quote

"More resistant to ASIC" is just silly seeing that we already have LTC mining ASICs. The only reason we didn't have them earlier was because LTC wasn't valuable enough. So, yeah, a low valuation is resistant to ASICs.

More resistant I guess is the key word. They have taken longer to develop than the SHA256 ASICs.

N12

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Quote from: Walsoraj on March 18, 2014, 09:09:54 AM

http://online.wsj.com/news/articles/SB10001424052702303563304579447020246651110

Quote

The Treasury Department will come after the many digital currency exchanges and administrators that haven't registered with the Financial Crimes Enforcement Network, the Department's top official for terrorism and financial intelligence said Tuesday.

Goodbye, Bitstamp and BTC-E.

elebit

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Quote from: bassclef on March 18, 2014, 09:34:14 AM

LTC does add faster confirmation times, and its Scrypt algorithm is more resistant to ASICs. That's pretty much it.

The faster confirmation times is pretty much exactly negated by the fact that you need more confirmations with LTC to be reasonably secure against forks.

"More resistant to ASIC" is just silly seeing that we already have LTC mining ASICs. The only reason we didn't have them earlier was because LTC wasn't valuable enough. So, yeah, a low valuation is resistant to ASICs.

Zapffe

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There will probably be couple of days with BTC rising in Bitstamp, because people will start throwing in some fiat to transfer to other exchanges to acquire LTC.
This time period will be the sweet spot to move out.

adamstgBit

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Quote from: JayJuanGee on March 18, 2014, 09:37:34 AM

Quote from: adamstgBit on March 18, 2014, 09:25:27 AM

Quote from: JayJuanGee on March 18, 2014, 09:18:58 AM

Quote from: UnDerDoG81 on March 18, 2014, 08:51:35 AM

Looks like that 2k dip was a try to force panic sell but it ain't work ^^

We will see, as I stupidly bought at 685 I have to hodl through this.

We are at the same buy-in price point..... I am NOT too worried - even though I was expecting to be in the $750 to $850 price range about now-ish....

It is just a matter of time before we are back in the black.... anywhere between a day and 2 months... - hopefully, it will NOT take 2 months to get back in the black, though.... Huh

i'm thinking about buying more soon

don't wanna miss a good flash crash, I also think this downward trend is very temporary

WE are considering this downward BTC price similarly, me thinks..... At this point, my next buy point would be at $590 or below. if the price gets there and stays there long enough for me to pull the trigger. In spite of some of this recent discussion about the lack of fiat on the seeable books, I continue to have my doubts about getting to those below $590 levels for any sustained length of time - even though i have been surprised before.

theres not a half bad chance that poeple will start selling because price is low, price inchies lower and lower, poeple get discouraged and sell at the bottom.

I did this a long time ago....

not about to make this mistake again Tongue

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: dreamspark on March 18, 2014, 09:35:08 AM

Quote from: JayJuanGee on March 18, 2014, 09:18:58 AM

It is just a matter of time before we are back in the black.... anywhere between a day and 2 months... - hopefully, it will NOT take 2 months to get back in the black, though.... Huh

What does that even mean...

Why do you ask me what it means, when you cite my previous post without its context. It seems that the context shows what the statement means...

So one more time, just in case you were NOT trolling me: If an investor has a BTC buy-in investment price at $685, then that investor is in the red when the current BTC price is below $685 and in the black when the current BTC price is above $685... The rest of the meaning of my statement is merely my speculating and/or hoping concerning when the price will return above $685... Hopefully, that explanation helps you to understand my earlier intended communication.

UnDerDoG81

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Just transferred 0.32 btc I had on btc-e into 10.5 ltc just for fun because damn I missed the ltc train 2 weeks ago. Lets see what happens in the next 2 hrs

JorgeStolfi

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Quote from: rpietila on March 18, 2014, 09:34:50 AM

Just 6 months ago it would have been insane to think that Bitcoin could be 600 in the next bottom.

Presumably many of those who bought at 800$ just two months ago did not expect that the next significant high would be 710$. Grin

dreamspark

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Quote from: adamstgBit on March 18, 2014, 09:36:30 AM

Quote from: dreamspark on March 18, 2014, 09:35:08 AM

Quote from: JayJuanGee on March 18, 2014, 09:18:58 AM

It is just a matter of time before we are back in the black.... anywhere between a day and 2 months... - hopefully, it will NOT take 2 months to get back in the black, though.... Huh

What does that even mean...

it means he bought in at X price and hopes to be back to about even in up to 2 month

Yeah I skimmed over and read it wrong.
I wouldnt worry about having your average at $685 we'll be back there before two months, its the people waiting to break even on their $1200 coins that may have to wait a while.

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