Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29565. (Read 26610669 times)
February 17, 2014, 11:35:40 AM
February 17, 2014, 11:34:49 AM
Let's make it clear - nobody has no bloody idea where the heck it is heading right now, lol
Nothing that special , most of the times we are clueless about where the hell bitcoin is heading and why.
Just enjoy the spooky ride
))There is technical analysis creating bitcoin forecasts that work well
How many millions are you worth?
Wouldn't it make more sense to ask "how did your investment perform compared to buy & hold", to assess how well TA works in this market?
February 17, 2014, 11:22:06 AM
In unrelated matters.
I found this article in the press section and I would strongly recommend it.
It's quite long but very thorough (and for those who insist in such terminology, bullish).
http://thenextweb.com/insider/2014/02/15/bitcoin-platform-currency/1/
I'm proposing everyone who signs up should read it.
I found this article in the press section and I would strongly recommend it.
It's quite long but very thorough (and for those who insist in such terminology, bullish).
http://thenextweb.com/insider/2014/02/15/bitcoin-platform-currency/1/
I'm proposing everyone who signs up should read it.
Yeah, I loved this one-- came across the Flipboard feed (which I also heartily recommend). Cheers
February 17, 2014, 11:12:23 AM
Huobi taking the lead again, Bitstamp following, Mtgox dead.
February 17, 2014, 11:09:27 AM
A so-called 'bank run' should not be a problem on MtGox in principle, as they do not operate a fractional reserve system.
I say 'should not be'......
I say 'should not be'......
According to my "insider" sources, they have operated the most flagrant fractional reserve system of modern history.
February 17, 2014, 11:04:08 AM
A so-called 'bank run' should not be a problem on MtGox in principle, as they do not operate a fractional reserve system.
I say 'should not be'......
I say 'should not be'......
February 17, 2014, 10:53:30 AM
The bull whale has returned. Houbi refusing to let gox dump now, just keeps buying more every time gox dumps.
February 17, 2014, 10:45:40 AM
because the issue is not how long it takes, but time and human effort involved
It was claimed that they need to limit the amount of BTC withdrawals because their coins are in "cold storage" and their hot wallet is small.
But even if their "cold storage" is a laptop hidden in the catacombs of Paris, they should be able to get it in a couple of days, move it to a closer (but still safe) location, and then keep transferring enough coins to the hot wallet, every day, to execute all the withdrawal requests on the queue. What is the risk of that?
From the statement:
Quote
At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.
In other words, they will adjust limits on the fly to prevent a bank run. We will see huge buys, then read hundreds of posts here and on reddit about unreasonable withdrawal limits. The price will crash again. Then Gox ups the limits. Massive market buys. Gox lowers the limits. More complaints. Rinse and repeat until Gox is dead.
February 17, 2014, 10:33:24 AM
because the issue is not how long it takes, but time and human effort involved
It was claimed that they need to limit the amount of BTC withdrawals because their coins are in "cold storage" and their hot wallet is small.
But even if their "cold storage" is a laptop hidden in the catacombs of Paris, they should be able to get it in a couple of days, move it to a closer (but still safe) location, and then keep transferring enough coins to the hot wallet, every day, to execute all the withdrawal requests on the queue. What is the risk of that?
February 17, 2014, 10:31:43 AM
If they should enable withdrawls by thursday; MtGox might be back to it´s +10% premium so that users might be tempted to stay at Gox,
only that price on Gox will stay @ around 350$ and Stamp might be around 315$.
only that price on Gox will stay @ around 350$ and Stamp might be around 315$.
February 17, 2014, 10:30:29 AM
Let's make it clear - nobody has no bloody idea where the heck it is heading right now, lol
Nothing that special , most of the times we are clueless about where the hell bitcoin is heading and why.
Just enjoy the spooky ride
))There is technical analysis creating bitcoin forecasts that work well
How many millions are you worth?
February 17, 2014, 10:27:33 AM
There is technical analysis creating bitcoin forecasts that work well
That is, if "well" equals flipping a coin over time.
February 17, 2014, 10:25:46 AM
Let's make it clear - nobody has no bloody idea where the heck it is heading right now, lol
Nothing that special , most of the times we are clueless about where the hell bitcoin is heading and why.
Just enjoy the spooky ride
))There is technical analysis creating bitcoin forecasts that work well
I have never seen a TA predicting the mess Mtgox can create with a single statement out of the blue
February 17, 2014, 10:25:28 AM
Is that bot dumping again on Gox? I hate conspiracy theorists but man, there is something fishy going on at Gox. I take it most will agree with me?
February 17, 2014, 10:25:17 AM
Good morning gentlemen. I see the market believed MtGox's slightly rephrased "2 weeks" message.
I believe they have a patent on that "2 weeks" response.
February 17, 2014, 10:23:01 AM
Let's make it clear - nobody has no bloody idea where the heck it is heading right now, lol
Nothing that special , most of the times we are clueless about where the hell bitcoin is heading and why.
Just enjoy the spooky ride
))There is technical analysis creating bitcoin forecasts that work well
February 17, 2014, 10:22:05 AM
The thing is, it is not Gox's money to control. It belongs to the people whose accounts it is credited to. To maintain confidence, Gox should be doing everything they can to allow people to access their money. They're not.
I've heard this exact argument about today's banks. Funny...
February 17, 2014, 10:19:57 AM
Thursday update: we have successfully downloaded half the block chain.
But ran out of disk space. We have a new hard drive on order from Newegg.
Perhaps they've been storing the blockchain on a series of 1.44MB floppy diskettes. It is taking a team of people to continually swap them and unwrap the cellophane from new boxes of diskettes. Then they have to label them: 1 of 5,555, etc.
February 17, 2014, 10:19:36 AM
The problem they have is not to resend pending withdrawals. They could do it for free with bitcoin-qt or any other mainstream client.
Their problem now is knowing who cheated with their buggy accounting and have a (virtually) negative balance.
They have to :
- review all "failed" withdrawals of the last 6 months
- find those that were manually or automatically re-credited and then sent twice to the same person
- try to "reclaim" some of the balances if they were transferred internally after the stop (I expect very bad surprises for those who bought discounted Goxcoins last week)
- put a big red sign on any account that had a suspicious activity
- calculate the loss they have to take (sum of negative balances from non solvable clients),
- know if they are broke or not
- decide whether they tell us or not...
Their problem now is knowing who cheated with their buggy accounting and have a (virtually) negative balance.
They have to :
- review all "failed" withdrawals of the last 6 months
- find those that were manually or automatically re-credited and then sent twice to the same person
- try to "reclaim" some of the balances if they were transferred internally after the stop (I expect very bad surprises for those who bought discounted Goxcoins last week)
- put a big red sign on any account that had a suspicious activity
- calculate the loss they have to take (sum of negative balances from non solvable clients),
- know if they are broke or not
- decide whether they tell us or not...
Thanks for the reply. Indeed that is what they would have to do in the "best case" assumption that the only problems were the hack and their incompetence at handling it.
My guess is that (because of the hack or some other reason) they know that they do not have enough bitcoins or cash to cover all the legitimate client account balances, so they may have to do a "haircut" on them. That indeed would require a full auditing before any further withdrawals.
February 17, 2014, 10:17:38 AM
Can everyone just remember there is a human being at the other end of these messages
+1
I take exception to that!
Ha Ha ! This made my day : )
I am sure Creekbore meant no offence old robot ChartBuddy.
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