Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29829.

Asrael999

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Quote from: byronbb on February 11, 2014, 02:24:18 AM

Why is gox even trading??? The exchange you can only deposit to, I mean it's laughable but unfortunately a fact.

well if you're stuck with GoxBux and GoxCoins, and can't get either out, you might as well swap them back and forth to try and make more of them. Those fees will keep Mark's hookers for a little longer.

Of course if you are not in GoxBux or coins you take a view on whether you think at a 20% discount to stamp its a a risk worth taking, or you think the Gox risk is worth more than that. Personally I wouldn't touch Gox at all but then I like Stamp.

Any chance Gox engineered the crash? If they are short a few thousand (or even a few tens of thousand) coin due to double transactioning wouldn't it make sense to drive the price down so that you could buy those coin back as low as possible. Then you can meet all the withdrawls and get back to business. Bitcoiners having the attention spans of gnats the chances are that once the withdrawls do start again then if the price stays below Stamp some people will come back and use your exchange again.

billyjoeallen

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Just hit the 4hr cross. looks like 700 is the new floor.

Davyd05

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Huobi having a lil mini rally.

billyjoeallen

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Quote from: shmadz on February 11, 2014, 02:25:29 AM

Quote from: billyjoeallen on February 11, 2014, 01:53:26 AM

Quote from: shmadz on February 11, 2014, 01:35:05 AM

Quote from: billyjoeallen on February 11, 2014, 01:30:04 AM

Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.

Does Coinbase really rely on miner's coins?

How do you know this?

*edited to remove confusion*

They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB. The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.

Interesting. you think institutions are paying more to get in bed with the producers? to insure a steady flow?

or just paying premium to get untainted coins?

I don't know for sure, but dealing directly with miners and buyers, they both save on fees. The Winkilevos Twins did say publicly that they have a relationship with several big miners. Second market is buying in bulk and the only buyer from them that I know about is BIT.

shmadz

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@theshmadz

Quote from: billyjoeallen on February 11, 2014, 01:53:26 AM

Quote from: shmadz on February 11, 2014, 01:35:05 AM

Quote from: billyjoeallen on February 11, 2014, 01:30:04 AM

Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.

Does Coinbase really rely on miner's coins?

How do you know this?

*edited to remove confusion*

They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB. The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.

Interesting. you think institutions are paying more to get in bed with the producers? to insure a steady flow?

or just paying premium to get untainted coins?

byronbb

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Why is gox even trading??? The exchange you can only deposit to, I mean it's laughable but unfortunately a fact.

surfer43

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"Trading Platform of The Future!"

Quote from: gizmoh on February 11, 2014, 02:08:51 AM

Free karma, thanks!

Cheesy

CryptoNames

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Quote from: gizmoh on February 11, 2014, 02:08:51 AM

http://www.youtube.com/watch?v=LLjlOw3TVc8

billyjoeallen

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another 785 BTC buy on stamp

PoolMinor

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XXXVII Fnord is toast without bread

Bitcoin wobbles but it won't fall down!

OldGeek

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Blitz:The price affects the perception of the news

Quote from: surfer43 on February 11, 2014, 02:02:55 AM

Quote from: OldGeek on February 11, 2014, 02:01:02 AM

Looks like MtSux is in DDOS mode again.

What do you mean? Cheesy

Was watching from Wisdom and noticed that gox went into slow mode. Then the interval went from, say 15 seconds, to 45 and then to 1 min 8 seconds. Unless BitcoinWisdom is having problems, then gox is being tested again.

gizmoh

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threecats

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bitfinex frozen for me

surfer43

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"Trading Platform of The Future!"

Quote from: OldGeek on February 11, 2014, 02:01:02 AM

Looks like MtSux is in DDOS mode again.

What do you mean? Cheesy

OldGeek

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Blitz:The price affects the perception of the news

Looks like MtSux is in DDOS mode again.

F-bernanke

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Quote from: billyjoeallen on February 11, 2014, 01:53:26 AM

They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB. The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.

If this is true, than there's more demand than i thought. I'm guessing were in a downtrend right now for a few months, and then some event (bank default, bail-in whatever) will kickstart another insane rally. I'm not selling a single coin because of this, Don't want to be left out holding the fiat bag, even when i think were heading down short term.

byronbb

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Quote from: TERA on February 11, 2014, 01:19:38 AM

So it's just a trap in general.

No we can always take it a step further.

billyjoeallen

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Quote from: shmadz on February 11, 2014, 01:35:05 AM

Quote from: billyjoeallen on February 11, 2014, 01:30:04 AM

Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.

Does Coinbase really rely on miner's coins?

How do you know this?

*edited to remove confusion*

They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB. The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.

MikeH

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