Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29673. (Read 26709440 times)

So cheerful I love it.  

will gox go below former ath ? will she sink so low ?

We'll Gox'll be back at 266 pretty soon at this rate  

Someone obviously has a good reason for those dumps. But the sheep following him. My god, what an idiots.

Do you not remember the 100s of k BTC regular buying sprees that seems to have kept Gox at least $100 higher than other exchanges? Willy. It looks like every single person on this forum and his dog noticed Willy the bull bot. What is happening now looks exactly the same but in reverse!

Just as dumb as people selling on Stamp because of Gox.
It's like when there is a crash on one side of the road and on the other site some idiots crash as well because they were watching the first crash.

It's like someone is trying to take out Gox, 300btc at a time

Somebody with a ton of coins believes that Gox is going dark never to be seen again...

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

Don't waste your time.  I will believe when the facts show that I was wrong.


The survival of altcoins kind of answers that, doesn't it?  

In fact we seem to be moving already away from a "bitcoin network" to a generic "cyptocoin network", whose members will devote their mining efforts to whatever cryptocoin their equipment can handle that provides the best return at that time.   In that case the "network effect" will no longer be a bitcoin advantage.


If there is no external factor to sustain the price, speculation alone may take the price anywhere -- and will eventually take it to zero.

Common stock prices can be justified in terms of expected sales and profits, hence expected dividends and/or growth of assets.  But there is no logical argument that justifies why the BTC price now should be 600$ instead of 6$ or 60,000$.

It is 600$ basically because speculators think that it may go up to 650$ sometime next week. But why would it do that? Well, because next week perhaps the speculators may think that it may go up to 700$ in the following week.  Or perhaps they won't. And so on. The price now is basically holding itself up by its bootstraps...

oh ok so this 200k btc of dumping is just "a bot". its "willy"... no. we are talking an order of magnitude of difference from willy, and that guy who made a 10k buy  (rpietelia claims that was.him)

I'm really confused. Who the hell  has that many coins on gox wallets ?? All I see 150-350 coins sells. It is insane !

Bear Aunt Milly, that is ?

You are in the wrong mindset. In a year's time it won't matter if you got on at 646, 570, 720, or even 850. It'll all look almost the same. Get on whenever you have fiat.

Take it from my experience, if you try to get on and off looking for the lowest price, you'll either be left behind when the next upward correction starts, or will slowly bleed away on fees.

Less informed than us? It should be hard.

No, just whale flopping around in the dark. Just like the bot that drove up the price to a 25% disparity last week trying to get out the Coin exit... now same bot is making a run for the fiat exit at whatever cost. Must have a lot of coins, be risk averse, and be poorly informed.

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.

The difference between the two will prevent the market from developing. It is not sustainable at all. Pure madness. Until the difference is closed how can we go up?

Well that didn't go so well.  Wasn't watching the market the last hour or so then looked at the screen, got a surprise and got straight back off again at 646.  

Lol.  Thank god it's BFX so the fees are tiny.

There is something to be said about this however. The primary reason that Bitcoin caught on and didn't fizzle like all other virtual currencies or even other cryptocurrency proposals is the blockchain -- the center of trust for all similar cryptos. The older and larger the chain, the more trust there is. This means that all (most) the alt coins can quietly disappear into niche uses. This is the main reason I was excited about merged mining -- one chain to rule them all. [Namecoin, however, has its own problems]

Basically it's the same argument about Visa/MasterCard and the zillion other card companies.


I was sceptical too until actually using BTC to pay for minor stuff online. For example Fiverr was a nice surprise. I made two orders and paid each with a different system (PayPal and Coinbase). And I've realised, PayPal is mad fugly. It is immensely bloated for what it's supposed to do. You probably have more menus than Amazon has for all your settings and preferences. In comparison, Coinbase's plugin was simple and easy to understand and use. According to comments on Fiverr's announcement to take BTC, many sellers appear to ask to receive BTC directly (to wallet or Coinbase account), simply because PayPal charges immense fees.

It can also be argued this is not the "true" way to use BTC, but does it really matter? I can easily visualize a unified crypto payment plugin. Select currency; select wallet or wallet provider; pay.

I believe cryptos are here to stay. Can't say about BTC, but it's a working proof of concept / minimal viable product.