Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29662.

hd060053

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Quote from: windjc on February 15, 2014, 09:29:40 AM

Quote from: tonyq on February 15, 2014, 09:24:36 AM

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 withdrawing 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.

SPOT ON.

This is the kind of retarded crazy that has people selling on Gox in the 300s. Unbelievable. When withdrawals open back up and those 300 dollar bitcoins are worth 2.5 x that amount all of this is going to be confirmed idioticy.

people are not selling on gox... isnt it obvious ? people are MASSIVE buying and one (1) person (the bot) is selling hard

JorgeStolfi

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Quote from: windjc on February 15, 2014, 09:16:48 AM

The stupidity of the Gox traders is overwhelming. How these morons [...] The stupidity is off the charts.

Windjc, why are so obsessed with them?

You claim that you have no assets at MtGOX. That internal trade of virtual "gox coins" for virtual "gox dollars" is isolated from the rest of the market. So why should you care?

Those guys have been trying to get their money - over 30 million dollars - out of MtGOX for months. And now they have also to stand being insulted?

They only made one stupid mistake, which was to leave their coins and dollars in the hands of an unofficial, unadited, unlicensed, and unregulated bank run by an amateur banker.

Just be thankful that yours are still safely kept by an unofficial, unadited, unlicensed, and unregulated bank run by an anonymous amateur banker.

UnDerDoG81

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Quote from: windjc on February 15, 2014, 09:29:40 AM

Quote from: tonyq on February 15, 2014, 09:24:36 AM

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 withdrawing 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.

SPOT ON.

This is the kind of retarded crazy that has people selling on Gox in the 300s. Unbelievable. When withdrawals open back up and those 300 dollar bitcoins are worth 2.5 x that amount all of this is going to be confirmed idioticy.

As I wrote 2 times, it should be renamed to Idiotcoin ^^

windjc

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Quote from: tonyq on February 15, 2014, 09:24:36 AM

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 withdrawing 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.

SPOT ON.

This is the kind of retarded crazy that has people selling on Gox in the 300s. Unbelievable. When withdrawals open back up and those 300 dollar bitcoins are worth 2.5 x that amount all of this is going to be confirmed idioticy.

T.Stuart

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One Token to Move Anything Anywhere

Quote from: TERA on February 15, 2014, 09:27:20 AM

Quote from: T.Stuart on February 15, 2014, 09:26:41 AM

Quote from: TERA on February 15, 2014, 09:24:00 AM

Quote from: T.Stuart on February 15, 2014, 09:22:31 AM

Quote from: TERA on February 15, 2014, 09:20:43 AM

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday.

More FUD?

Mtgox wrote a pdf as FUD?

I mean this latest news!

Gox enabling withdrawals at 3:15 is FUD?

Well you say the two statements are completely contradictory. Perhaps one of them is FUD? Get it?

F-bernanke

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Activity: 308

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Quote from: windjc on February 15, 2014, 09:16:48 AM

The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are. The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.

I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.

These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.

These people deserve every damn thing that is coming to them. The stupidity is off the charts.

Good post, love it Cheesy

fonzie

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Activity: 504

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Moderator

There is no PDF about reenabling withdrawls, just a notice in the IRC.

https://i.imgur.com/M5MVmUR.png

TERA

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Quote from: T.Stuart on February 15, 2014, 09:26:41 AM

Quote from: TERA on February 15, 2014, 09:24:00 AM

Quote from: T.Stuart on February 15, 2014, 09:22:31 AM

Quote from: TERA on February 15, 2014, 09:20:43 AM

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday.

More FUD?

Mtgox wrote a pdf as FUD?

I mean this latest news!

Gox enabling withdrawals at 3:15 is FUD?

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: TERA on February 15, 2014, 09:24:00 AM

Quote from: T.Stuart on February 15, 2014, 09:22:31 AM

Quote from: TERA on February 15, 2014, 09:20:43 AM

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday.

More FUD?

Mtgox wrote a pdf as FUD?

I mean this latest news!

tonyq

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Activity: 879

Merit: 1001

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 withdrawing 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.

SPOT ON.

AmazonStuff

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Activity: 628

Merit: 500

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

OK, we shall see, we have less then hour to check if this is true or not...

TERA

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Activity: 728

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Quote from: T.Stuart on February 15, 2014, 09:22:31 AM

Quote from: TERA on February 15, 2014, 09:20:43 AM

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday.

More FUD?

Mtgox wrote a pdf as FUD?

ChrisML

sr. member

Activity: 308

Merit: 250

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

From mtgox IRC.

Fucking troll./

T.Stuart

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Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: TERA on February 15, 2014, 09:20:43 AM

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday.

More FUD?

zakalwe

sr. member

Activity: 445

Merit: 251

Quote from: windjc on February 15, 2014, 09:16:48 AM

The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are. The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.

I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.

These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.

These people deserve every damn thing that is coming to them. The stupidity is off the charts.

+1

TERA

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Activity: 728

Merit: 500

Quote from: pickaname on February 15, 2014, 09:15:11 AM

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday.

windjc

legendary

Activity: 2156

Merit: 1070

The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are. The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.

I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.

These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.

These people deserve every damn thing that is coming to them. The stupidity is off the charts.

pickaname

newbie

Activity: 25

Merit: 0

http://www.reddit.com/r/Bitcoin/comments/1xz9m3/mt_gox_to_reinstate_btc_withdrawals_at_315_gmt/

Withdrawals back online at 3:15 gmt. Arbitrage is going to make it rain blood.

Yololintian

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Activity: 293

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Quote from: fonzie on February 15, 2014, 09:07:08 AM

At first i was thinking that Billy/Willy(whatever) is sellin into his own bids to create a negative bearish sentiment, but actually the bid depth on Gox is really goin down.
It was 6000BTC to 300$ a few hours ago now there are only 1800BTC left. Either Gox goes down and price plunges to 0$(

. Or more likely it will shoot up to 5-600 within minutes.
There is also a huge possibility that they announce that they have been hacked, coins are stolen, and they have to shut down trading exchange for a while(2 weeks Cheesy

).
Anyways it´s gonna be fun.

Update: Actually, there is a black hole between 310$ and 255$ lololololololol

Check another source for the actual bid depth, bitcoinwisdom has been wrong for many hours. Bitcoinity says 5.8k to 300.

dgarcia

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Quote from: T.Stuart on February 15, 2014, 08:50:37 AM

Niiiiiiiice double-bottom forming on Gox! Cheesy

Until now it's no real double bottom. For a double bottom reversal it has to break resistance between the lows.

If price rises above 500 it's a double bottom reversal.

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:double_bottom_revers

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