Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29650.

HairyMaclairy

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Degenerate bull hatter & Bitcoin monotheist

Quote from: KFR on February 16, 2014, 12:01:41 AM

Quote from: HairyMaclairy on February 15, 2014, 11:22:49 PM

If it results in the loss of hundreds of millions in market value I'm going with "bug".

It is fair to say that several exchanges - most notably Gox of course - were tracking transactions in a way that was inherently unsafe. That, in combination with poor communication about a complex situation to the market, is what resulted in the losses.

I am aware of the distinction. However from a consumer point of view it matters not whether the fault lies in the protocol or the wallet implementation. The consumer lost their investment due to exchange insolvency due to something happening which should not have happened. That's a bug.

TERA

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Quote from: fonzie on February 16, 2014, 12:07:29 AM

At least their servers are working great! Cheesy

Is this midas?

fonzie

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At least their servers are working great! Cheesy

aminorex

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Sine secretum non libertas

Quote from: HairyMaclairy on February 16, 2014, 12:01:17 AM

I wonder how all those people who bought gox btc at 70% of face value using real btc are feeling.

They should be feeling roughly 15% richer now. They can flip them for 85% of face value at bitcoinbuilder.com.

fonzie

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Quote from: HairyMaclairy on February 16, 2014, 12:01:17 AM

I wonder how all those people who bought gox btc at 70% of face value using real btc are feeling.

aminorex

legendary

Activity: 1596

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Sine secretum non libertas

Quote from: JorgeStolfi on February 15, 2014, 11:50:38 PM

Quote from: nrd525 on February 15, 2014, 11:28:41 PM

According to my calculations [...] MtGox dollars are actually worth more than regular dollars

What the charts show is the price of "MtGOX bitcoins" in terms of "MtGOX dollars". They are not real bitcoins nor real dollars, but merely numbers in the "bitcoin" and "dollar" columns of MtGOX's internal "client accounts" ledger.

I do not see how one could relate either of those two virtual currencies to the real ones in other exchanges.

On the assumption that gox withdrawals resume shortly (say 2 days), if 1 bitcoin costs 330 usd on gox and 660 usd on stamp, then (ignoring RFR discounting for the trivial period, slippages, fees &c), 330 usd on gox is worth exactly as much as 660 usd on stamp. I.e 1 usd on gox is worth 2 usd on stamp.

The market on the other hand, as demonstrated at bitcoinbuilder.com, is discounting very differently, factoring in risk assessments which reduce the value of a bitcoin on gox vs. a bitcoin "in hand". I.e. the market assigns a less than unity probability to the assumption above.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

derpinheimer

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lol @ gox dump right after [fail/success] rally

KFR

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Per ardua ad luna

Quote from: HairyMaclairy on February 15, 2014, 11:22:49 PM

If it results in the loss of hundreds of millions in market value I'm going with "bug".

It is fair to say that several exchanges - most notably Gox of course - were tracking transactions in a way that was inherently unsafe. That, in combination with poor communication about a complex situation to the market, is what resulted in the losses.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

I wonder how all those people who bought gox btc at 70% of face value using real btc are feeling.

fonzie

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Quote from: TERA on February 15, 2014, 11:56:04 PM

It's nice to see the $200 movements on gox causing $10 movements on Bitstamp. Maybe now we are finally detached.

Bitstamp will also plunge when the Gox bad news offically hit the fan(insolvency, robbed, whatever).
Maybe not to 0 like Gox but expect a nice 100-250$ flashcrash.

fonzie

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Right now on Gox:

TERA

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It's nice to see the $200 movements on gox causing $10 movements on Bitstamp. Maybe now we are finally detached.

JorgeStolfi

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Quote from: nrd525 on February 15, 2014, 11:28:41 PM

According to my calculations [...] MtGox dollars are actually worth more than regular dollars

What the charts show is the price of "MtGOX bitcoins" in terms of "MtGOX dollars". They are not real bitcoins nor real dollars, but merely numbers in the "bitcoin" and "dollar" columns of MtGOX's internal "client accounts" ledger.

I do not see how one could relate either of those two virtual currencies to the real ones in other exchanges.

HairyMaclairy

legendary

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Degenerate bull hatter & Bitcoin monotheist

Quote from: TERA on February 15, 2014, 11:41:56 PM

wow gox ho lee fuk sum ting wong wii tu lo

I'll pay attention when the Gox price starts with a '2'.

And even then,not much.

fonzie

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Well if we continue in this rate we´ll see 10$ BTC/USD in about 2 hours.
I´m really sorry for everyone who is(maybe) about to lose money on Gox beside those tards that traded in bitcoinbuilder to buy Goxcoins with real BTC.
No mercy for them. They deserve to get burned.

TERA

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wow gox ho lee fuk sum ting wong wii tu lo

creekbore

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Lazy, cynical and insolent since 1968

Quote from: fonzie on February 15, 2014, 11:34:25 PM

So no BTC withdrawls on Monday? :-(

But you can make deposits already... Cheesy

...so that's all right then.

BTC5OOO

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Trust:+4:20--Warning* ASICs with extreme hashrate!

Mt. Gox monkeys at the helm : : kain't do maths very good $333 lmfao!!!! =)

fonzie

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~7000 BTC left before we go to single digits

I know , i know all data is fake and bitconity states other data,but maybe it is double fake, triple fake?
Reverse psychology trap?

Shocked

Gox, i´m lovin it!

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