Controlled Demolition ?
If a few whales each had around 1000+BTC on GOX and 1000 on other exchanges...
If they were convinced that their 1k on gox was lost Then wouldnt it be prudent to get together, Dump massively on both platforms until they had nothing left on Gox but fiat,,
FUD would do the rest in dropping the market way down. They could then use the fiat on a safe exchange to buy up their lost gox coins cheap whilst still having fiat in gox which could possibly be recovered?
ie. They crash the market in order to buy up the same amount of coin in another exchange and still have fiat in gox.
If so, sub $400 is possible imho.
(BTC grew so quickly in value recently that it essentially became premined. )
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29743. (Read 26711019 times)
February 13, 2014, 08:28:09 PM
February 13, 2014, 08:26:16 PM
This forum is almost as batshit crazy right now as when we were at $1200. The agendas are out in full force.
Is the bottom in? No. But its getting closer.
Reading some more fiat for a purchase soon. Probably within the next week.
Meanwhile, bears, enjoy the ride. You are making cheaper coins available for all. And I thank you for that.
Is the bottom in? No. But its getting closer.
Reading some more fiat for a purchase soon. Probably within the next week.
Meanwhile, bears, enjoy the ride. You are making cheaper coins available for all. And I thank you for that.
February 13, 2014, 08:24:39 PM
By the way, wouldn't it be better if Gox would suspend all trading until further notice when he made the initial announcement?
A site that suspends withdrawals of BTC and/or currency but continues to accept deposits of any type may not be a scam site, but is putting up a good impersonation of one. What if a client deposits without noticing the restriction, then needs to withdraw for some reason?
An ethical exchange (or any bank-like service) should suspend deposits whenever it suspends withdrawals.
February 13, 2014, 08:24:28 PM
It's only a matter of time before we see an entire page of "This user is currently ignored."
"This thread is currently ignored"
February 13, 2014, 08:24:08 PM
Pretty sure gox will be dead within a month or two
If I only had a bitcoin for every time I've heard this...
Normally I agree with you. This time is different. Mark is blaming his failures at operating a business on the reason he has a business in the first place. It's just bad marketing.
You have no argument from me that Gox doesn't provide good PR or that Mark may not be best suited as the public face of Gox however he bought an unwanted exchange (from a person who went on to build another one which failed) and turned it into an honest money gushing enterprise. It very simply was the economic backbone of the Bitcoin universe for a number of years. Gox helped make the Bitcoin economy what it is today.
Mark had challenges that caused him to close his doors for days/weeks but he always re-opened. He was (and may still be) a beacon of trustworthiness in a community nearly bereft of it.
He's guilty of the sin of being nerdy in a world that loves to point and laugh. He may have been quick to rush to judgment against some in order to protect his business. And now he's earned the ire of the ADHD children of the Bitcoin community by blaming his bad judgement on the protocol's weakness. Yet how many exchanges have now "adjusted their software" since Mark spoke out?
I haven't quite counted him out yet. If he manages to guide Gox back from the brink he will have *the* exchange to trust. If he absconds with the treasure it would surprise me, and I'm pretty jaded.
February 13, 2014, 08:22:33 PM
February 13, 2014, 08:18:03 PM
Chin up guys! when everything goes to hell, then you can always work for money!
I'm starting to feel bad for the guys who are holding coins. They have showed great determination, but sadly with this situation, it won't pay off.
Just remember, when the price goes around 200$ then do not sell. There are 1-2 bubbles left in the bitcoin life-cylce, so this won't be the end of the journey.
I'm starting to feel bad for the guys who are holding coins. They have showed great determination, but sadly with this situation, it won't pay off.
Just remember, when the price goes around 200$ then do not sell. There are 1-2 bubbles left in the bitcoin life-cylce, so this won't be the end of the journey.
February 13, 2014, 08:17:49 PM
By the way, wouldn't it be better if Gox would suspend all trading until further notice when he made the initial announcement?
You'd think, but no. I wonder if the rats are jumping ship yet.
February 13, 2014, 08:17:48 PM
Much better 
Something else there, I've no idea how much competition there is between the worlds banks, the consensus is China wants to take the US's position as world trade currency but there's likely other players there too and any one of them could put the dollars world reserve status under serious threat by putting big money into bitcoin now. That would leave no one with total control over the worlds money but if they stand no chance of achieving that they have little to lose, the enemy of my enemy is my friend.
Something else there, I've no idea how much competition there is between the worlds banks, the consensus is China wants to take the US's position as world trade currency but there's likely other players there too and any one of them could put the dollars world reserve status under serious threat by putting big money into bitcoin now. That would leave no one with total control over the worlds money but if they stand no chance of achieving that they have little to lose, the enemy of my enemy is my friend.Totally. I think China's looking likely for it. The EU is just not in a decent state these days.
Perhaps Opec should produce its own alt-coin.
February 13, 2014, 08:15:43 PM
February 13, 2014, 08:14:50 PM
By the way, wouldn't it be better if Gox would suspend all trading until further notice when he made the initial announcement?
February 13, 2014, 08:12:11 PM
This situation is damaging Bitcoins reputation for nothing.
February 13, 2014, 08:09:44 PM
Looks like Gox going full retard
February 13, 2014, 08:09:17 PM
Gox is just steadily moving downwards.
I had an idea: is it possible that Mark K is pissed and it's him that's selling all his coins, price be damned? I've heard that he has a lot.
I had an idea: is it possible that Mark K is pissed and it's him that's selling all his coins, price be damned? I've heard that he has a lot.
At least there is one sane person left in the Bitcoin foundation. That´s kinda bullish
February 13, 2014, 08:07:49 PM
History in the making. Watch the biggest ponzi, bubble , pyramid, whatever deflate to sub zero.
February 13, 2014, 08:05:49 PM
Gox just keeps on sliding.. there's no end in sight.
It might stop @ 0$, also i´m not very sure about this.
February 13, 2014, 08:04:47 PM
Bitcoin seems to be mainly used for criminal activities, black markets or to support terrorism and money laundering the other part is for gambling and speculation.
Kinda sad for a grassroots currency , that was made to save the masses.
Kinda sad for a grassroots currency , that was made to save the masses.
And porn, dude! Porn!
Don't forget this!
GOD HATES PRON!
PRON...as an ex-English teacher I take that to mean pronunciation. Everyone hates pron.
February 13, 2014, 08:02:48 PM
February 13, 2014, 08:01:50 PM
Quote
Lol, Fonzie is the new proudhon eh?
Proudhon craps bigger than Fonzie
February 13, 2014, 08:01:19 PM
You think I'm 19!!!
That's fantastic (when you get to my age any hint of youth, however misplaced, is always welcome).
That's fantastic (when you get to my age any hint of youth, however misplaced, is always welcome).
How did you fair in last week's high school football game? Are you going to the prom this year?
LOL...imagine I'm old enough to be your father.
Interesting that you thought I was young based on the fact I care for the environment, its sad that younger people are so cynical about caring for the Earth. I don't know if you saw my post with regard to the oil 'fact' I quoted but I'm sorry, being up to date on the US oil export figures isn't my biggest priority.
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