Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29658. (Read 26708335 times)

Has the warning always been there?  I only noticed it now.
https://www.bitstamp.net/risk-warning/

Legit TA is legit TA!


u all know what happened a few days ago when MA 3d crossed.




this time it´s EMA 3d and it will be way worse



To the moon!

Altcoins are the safety net for crypto-currencies.

When some idiot tries to corner the market on Bitcoin simply trade into an altcoin.

Crypto-currencies are not all about Bitcoin.

Those corpcoins will look superficially like bitcoin in the way people will use them, but of course will not be anything like the libertarian dream.  For 99.9% of the population, that will not matter.

There are many things wrong with that argument, but one of them is that there is an infinite number of cryptocoins, and they all are in principle as good as bitcoin for the purpose of low-fee payments via internet.

So how long is a "good amount of time" and what do you mean by "unlimited support"? We've smashed into the ~$530 level twice now (stamp), the second time with a lot more volume. Are you saying that can't be the floor or is it just too soon to tell in your opinion?

The bottom is in. The lows from here on out will be higher than previous lows, but we're not going up substantially either. Not for a while unless something major happens.

I doubt that more than 3 people at MtGOX know how many bitcoins they have in their own wallets and how many dollars/yen they have in their bank.

In the classical collapses, like Enron's and Madoff's, very few people in the company were aware of the real situation, and they were all cooperating with the wrongdoings out of self-interest (or because they were chosen precisely for their "moral qualities").

In any case, that robot could be operated by one person inside MtGOX without anyone else knowing. Or by an external accomplice.


I would say the opposite: first they kept the price up 10% above market to lure people into depositing their real bitcoins in exchange for gox dollars (virtual dollars in MtGOX's internal client accounts); while stalling on dollar withdrawals (the conversion of gox dollars into real dollars).  The high price also discouraged people from changing their gox dollars into gox bitcoins (virtual bitcoins in MtGOX's internal client accounds) and withdraing them (that is, converting them to real bitcoins).

When GOX clients began to realize that dollar withdrawals weren't working, they tried to use the bitcoin route in spite of the 10% loss.  Then at first MtGOX raised the premium to 20%, and also began to stall on bitcoin withdrawals -- thanks to a providential "malelability bug"  that stalled 40,000 bitcoins over several month, but which they somehow could not figure out in all that time.

But those measures did not stop the outflow, so they just suspended all withdrawals and promised that by Monday they may provide an estimate of when they may promise something.

What is happening now, it seems, is clients converting their virtual GOX coins to virtual GOX dollars at ~40% loss, presumably because they think that if they keep the virtual coins they may lose more than 40% in the end.

I wonder who is buying those coins. Could be clients who are slightly (only slightly) more optimistic about the chances of future bitcoin withdrawals.  Could be MtGOX itself, trying to reduce the amount it owes to its captive victims. 


For a bank, fractional banking means to loan out or invest more money than its customers have deposited in their accounts.  That is a gamble, based on the hope that only a fraction of the customers will ever want to take out their money at the same time.  Sometimes a bank bank loses the gamble (and then clients usually lose some of their money).

A simple exchange like MtGOX should not be doing any fractional banking, since it is not in the business of lending or investing, whwther money or bicoins.  However, its management would have been strongly tempted to invest most of the real bitcoins that clients had deposited to earn interest on them; trusting that only a few clients would want to withdraw them at any time.  If MtGOX did that, perhaps they made a bad investment, or perhaps they sold the bitcoins when the price was 100$, and now that it is 600$ they may not have enough assets to buy all of them back.


For sure!

[Gox] deserve to go down because either they don't have the coins or they try to manipulate the market to make a profit.

Jorge, you're the voice of sanity here...

If gox withdrawls are enabled, I'd go all in btc (actually, sooner) and transfer immediatly to stamp.  Then i'd cash out.  Gox price will rise, stamp price will collapse and we'll be back to pre-btc withdrawl problems with gox 100$ above stamp.

Imagine buying 330$ btcs and selling half of them for 650 a minute later.

The sooner the Gox disappears up its own ass, the better for everyone.

This makes NO sense. Something here is fishy. I have been mystified for days. To me it gox should be bullish. You can get money in, you can buy crazy cheap coins, you will be able to get them out again soon. (they're not fucking insolvent, Mark would be found and murdered straight away.)

Meanwhile, stamp is double the price?? At first I thought the "malleability issue" was a joke and entirely the fault of gox's poor heigene, then the other exchanges followed suit, and silk road 2. So if this is a legit issue with btc itself, and we are capable of understanding that that doesn't really matter as the protocol can and will be changed whenever it is required by enough of us, the only reason for the doom and gloom is....people just don't like gox, but the reason for that should be because of the FIAT withdrawal problem which they have had for months and months, yet it DOESN'T SEEM TO BE.

I think you may mean this Richy::