Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30453.

Walsoraj

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Ultranode

Quote from: N12 on January 07, 2014, 08:16:08 PM

Quote from: Walsoraj on January 07, 2014, 08:12:47 PM

TechCrunch article appeared only an hour ago. Not all over Reddit yet.... Can't wait.

It was downvoted to the second page after it reached the first one: http://www.reddit.com/r/Bitcoin/comments/1uo12r/a_source_in_the_us_justice_department_said_that/ Now it's downvoted to oblivion.

Bitcoin cultists cannot handle anything that is not 2damoon.

Agree. If they were smart, they'd immediately load up on Dogecoin. Cheesy

Walsoraj

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Ultranode

Moved all of my bids in the $10-20 range. I suggest you all do the same.

N12

donator

Activity: 1610

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Quote from: Walsoraj on January 07, 2014, 08:12:47 PM

TechCrunch article appeared only an hour ago. Not all over Reddit yet.... Can't wait.

It was downvoted to the second page after it reached the first one: http://www.reddit.com/r/Bitcoin/comments/1uo12r/a_source_in_the_us_justice_department_said_that/ Now it's downvoted to oblivion.

Bitcoin cultists cannot handle anything that is not 2damoon.

thefunkybits

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Wow I can breathe now! what a ride that was Shocked

marcus_of_augustus

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Eadem mutata resurgo

Quote

Too much respect - borderline asslicking.

I hate these guys guts ... just do not under-estimate them and the pawns/tools outside finance they have access to, including media, courts, regulators, govt. to create temporary perceptions of over-supply.

Bitcoin's true weapon against these bastards is genuine scarcity ... and global demand is rising, fast.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: adamstgBit on January 07, 2014, 07:51:21 PM

Quote from: marcus_of_augustus on January 07, 2014, 07:28:48 PM

Quote from: crazy_rabbit on January 07, 2014, 07:14:58 PM

It surprises me that no one see's the obvious. Large manipulators wait for negative PR and then take the opportunity to start the drop, knowing that people will attribute it to the news and panic.

Holding is not because you're sticking with your internet friends, its because by and large individual amateur investors are going to have a really hard time timing the market properly and not losing money. You will lose less if you just step away and stop thinking about it. It's either going to be worth millions or nothing at all. You joined up for this ride, so don't quit your day job.

And please, stop complaining.

This.

I don't think many people here realise what it means now these Wall St. sharks are circling and amongst us ... they'll be picking you off one at a time like the ripe fat whales you are.

I've been watching/trading the Gold market for 18 years and you guys have no fucking clue what's coming ... it's not going to be pretty.

From here on out, either you're in bitcoin for the long haul and the protection of assets it provides or you're gonna lose most everything .... especially if you think you can out trade these guys with their trading algorithms, bots, deep pockets and propaganda machine ... they'll out psyche you every time and then take your money when you are beat ...

You've been warned. Get real or get out now.

I like to think that when I trade its to help stabilize the market to find the true value, and the market rewards me Cheesy

You do stabilize ... if you are successful.

If not, like buy high sell low, you destabilize the market. But then - natural selection will take care of you. Don't take my word for it. Darwin said it first, and he said it good.

Walsoraj

hero member

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Ultranode

TechCrunch article appeared only an hour ago. Not all over Reddit yet.... Can't wait.

MAbtc

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LOL, yeah, it was the FBI story that caused the drop. Cheesy

Peter R

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Quote from: Dragonkiller on January 07, 2014, 08:08:29 PM

Quote from: Peter R on January 07, 2014, 08:07:44 PM

The word "faith" is the giveaway. "Faith" in a seized asset has no relevance in a criminal court case such as this: "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized from Mr. BigMobbDude. You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

plea bargain. it's not going to court

The point is that if the coins are to be sold, they will be sold at an auction, regardless of any "faith" the government may or may not have.

MAbtc

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Quote from: Peter R on January 07, 2014, 08:07:44 PM

The word "faith" is the giveaway. "Faith" in a seized asset has no relevance in a criminal court case such as this: "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized by Mr. BigMobbDude. You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

The fact that the story is super fishy aside, I'd be surprised if the feds were unable to achieve civil forfeiture. Conviction is not necessary. People have assets civilly forfeited all the time absent conviction. Besides, It's clear that Ulbricht is cooperating at this point, so emphasis on conviction is pretty much moot, anyway.

N12

donator

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Is it not ironic that our ideological anarchocapitalist hero succumbed his property to the state in exchange for his life, probably soon slaughtering many permapigs high on bitcrack with his actions?

Bow down to The Man! All your Bitcoins are belong to US!

gmannn

full member

Activity: 148

Merit: 100

Quote from: Peter R on January 07, 2014, 07:52:24 PM

Quote from: darklight on January 07, 2014, 07:34:54 PM

Quote from: bambou on January 07, 2014, 07:30:23 PM

Quote from: N12 on January 07, 2014, 07:24:53 PM

"In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks."

"The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said"

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

imho i don't believe US government would let go that easy.. good old poker face?

At any rate, they aren't just going to wire it across to gox and dump it on the exchange Cheesy

The DPR and Silk Road coins are not "on the move." The funds are sitting at https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH and https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX -- not a single satoshi has been withdrawn.

These coins will not be auctioned off before the trial concludes, and would not be sold at Gox or BitStamp. The wording of the statement "the reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency" makes me suspicious of the credibility of the author's "source in the U.S. Justice Department." I wonder if Tech Crunch contributor John Biggs (author) has any relation to our fine forum contributor JohnyBigs: https://bitcointalksearch.org/topic/why-bitcoin-is-doomed-to-fail-and-theres-nothing-you-can-do-about-it-372303.

Great find, expect an article on TC tomorrow which claims all responsibility for today's drop and then goes on about how easy the exchange rate is to manipulate.

Nightowlace

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Quote from: versace on January 07, 2014, 08:05:51 PM

buy now or wait some more? seems to be stabilizing at the moment

I am personally waiting for $833

Dragonkiller

sr. member

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Merit: 250

Super Smash Bros. Ultimate Available Now!

Quote from: Peter R on January 07, 2014, 08:07:44 PM

The word "faith" is the giveaway. "Faith" in a seized asset has no relevance in a criminal court case such as this: "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized by Mr. BigMobbDude. You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

plea bargain. it's not going to court

Davyd05

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Activity: 574

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Quote from: GaliX on January 07, 2014, 07:51:31 PM

is there any line left that could mean some resistance before the bottom?

looks like we just moved back to a channel we' got in and returned to every time we had a steep rally following the last time we visited low 7s

Peter R

legendary

Activity: 1162

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The word "faith" is the giveaway. "Faith" in a seized asset has no relevance in a criminal court case such as this: "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized by Mr. BigMobbDude. You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

Walsoraj

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Activity: 686

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Ultranode

Quote from: ?? on ??

well that etf wants $150 million worth of coins... the FBI has $150 million worth of coins...

hmmm....

edit: that is assuming that story is not BS and i kinda think it is.

Pathetic speculative attempt to restore faith in bitcoin. GTFO.

Walsoraj

hero member

Activity: 686

Merit: 500

Ultranode

Perfect storm approaching: Obvious manipulation on Houbi. All China exchanges getting shut down by end of Jan. China's eBay just banned sales of miners. FBI knows something we don't and has lost faith in bitcoin.

The end is near.

versace

newbie

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buy now or wait some more? seems to be stabilizing at the moment

N12

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Quote from: TERA on January 07, 2014, 08:00:47 PM

Wait where did the author get this information that the FBI is planning to sell the coins and how does the author know the personal opinion of the FBI?

Sources of course.

Cheesy

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