Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32310.

Abandon

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Quote from: N12 on July 17, 2013, 02:21:01 PM

Quote from: Abandon on July 17, 2013, 02:16:51 PM

The strong hands are accumulating, the longer we're at this point, the more likely it is we are to rise.

This is similar to what it was like at around 120, before it began rising to a high of 136.

Did you settle your debt?

Not yet, if must be nosy and know about it.

N12

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Quote from: Abandon on July 17, 2013, 02:16:51 PM

The strong hands are accumulating, the longer we're at this point, the more likely it is we are to rise.

This is similar to what it was like at around 120, before it began rising to a high of 136.

Did you settle your debt?

Abandon

member

Activity: 112

Merit: 10

The strong hands are accumulating, the longer we're at this point, the more likely it is we are to rise.

This is similar to what it was like at around 120, before it began rising to a high of 136.

Rampion

legendary

Activity: 1148

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Quote from: N12 on July 17, 2013, 01:48:15 PM

Having money at MtGox I'm as worried as much as the last time this came up, not at all. The only annoying thing is that we're going to have to wait for SOME sort of withdrawal method to work for an impulsive downward move to occur. We're basically trapped in limbo where we can't go meaningfully up or down, and this applies to all exchanges.

Quote from: Rampion on July 17, 2013, 01:42:16 PM

BTW, do you know if Bitstamp worked with LR at some point? It seems that Citibank is using that excuse to bounce Gox's wires.

No clue. That's interesting to hear, can you point me to such reports? Are there any other such banks that we know of that block all MtGox transfers?

Quickly found this, but there were other reports of the same problem in different threads, including screenshots: https://bitcointalksearch.org/topic/m.2577090

ChartBuddy

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N12

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Having money at MtGox I'm as worried as much as the last time this came up, not at all. The only annoying thing is that we're going to have to wait for SOME sort of withdrawal method to work for an impulsive downward move to occur. We're basically trapped in limbo where we can't go meaningfully up or down, and this applies to all exchanges.

Quote from: Rampion on July 17, 2013, 01:42:16 PM

BTW, do you know if Bitstamp worked with LR at some point? It seems that Citibank is using that excuse to bounce Gox's wires.

No clue. That's interesting to hear, can you point me to such reports? Are there any other such banks that we know of that block all MtGox transfers?

Rampion

legendary

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Quote from: N12 on July 17, 2013, 01:36:31 PM

Quote from: Rampion on July 17, 2013, 01:25:06 PM

Quote from: capsqrl on July 17, 2013, 01:23:37 PM

What's going on with volume? Seems like only about 30 BTC has changed hands in the last 30 minutes.

BTC8.83 in the last 25 minutes to be exact.

That explains how "the traditional banking system is unable to keep up with the demands of a growing Bitcoin economy", poor Gox whose load is crashing the Mizuho bank, which has a yearly revenue of +1 billion

Cheesy

Can't believe how bearish this is. No big money is going to flow in under these conditions, so impulsive upward moves are pretty much guaranteed to not occur.

I do wonder whether all major banks have started to treat MtGox like Wikileaks, and whether that could extend to other exchanges as well.

I'm sure they will find some way for people to withdraw eventually, though, but I have no idea how long it can take.

I have mixed feelings, from one side I'm 99% sure of Gox's honesty, but I'm also sure they are just a bunch of amateurs... And the fact they either keep silent or spread bullshit makes me think the situation is much worse than it seems.

I'm very tempted to buy BTC at the current price with all my Gox fiat, send them to a paper wallet and come back in September. If Gox is having problems to find banks to work with, probably the other exchanges will follow soon.

BTW, do you know if Bitstamp worked with LR at some point? It seems that Citibank is using that excuse to bounce Gox's wires.

Ultraviolet

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Quote from: ?? on ??

Nope. There is a steady buyer that will relish the opportunity to turn up his volume without slippage.

If the market was as bullish as you describe we wouldn't be languishing with our heads below $100 for the last four days.

N12

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Quote from: Rampion on July 17, 2013, 01:25:06 PM

Quote from: capsqrl on July 17, 2013, 01:23:37 PM

What's going on with volume? Seems like only about 30 BTC has changed hands in the last 30 minutes.

BTC8.83 in the last 25 minutes to be exact.

That explains how "the traditional banking system is unable to keep up with the demands of a growing Bitcoin economy", poor Gox whose load is crashing the Mizuho bank, which has a yearly revenue of +1 billion

Cheesy

Can't believe how bearish this is. No big money is going to flow in under these conditions, so impulsive upward moves are pretty much guaranteed to not occur.

I do wonder whether all major banks have started to treat MtGox like Wikileaks, and whether that could extend to other exchanges as well.

I'm sure they will find some way for people to withdraw eventually, though, but I have no idea how long it can take.

molecular

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Quote from: Rampion on July 17, 2013, 10:52:40 AM

Quote from: 01BTC10 on July 17, 2013, 10:24:09 AM

Gox 98 and Bitstamp hit 89 Huh

People cashing out from Gox and selling on Bitstamp? Must be painful...

Well, it looks like that is what is happening.

Plus, the fact that Roger Ver uploads today an utterly stupid youtube video in which he repeats like a muppet that the delays are caused by "the traditional banking system inability to keep up with the demands of the growing Bitcoin economy" (literally) just makes it FUCKING WORSE.

WTF? Who they want to fool? I don't fear MtGox going broke because of fractional reserve and whatnot, but "the demands of the growing Bitcoin economy" its obviously NOT the problem, WTF are they hiding? That their banks won't deal with Bitcoin businesses anymore and they are struggling to find any bank that do want to work with them? That some of their funds are being freezed and investigated by their banks? What the hell is going on with these guys?

yes

the other explanations (gox illiquid, banks can't handle load) are obvious BS.

Rampion

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Frozenlock

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Quote from: capsqrl on July 17, 2013, 01:23:37 PM

What's going on with volume? Seems like only about 30 BTC has changed hands in the last 30 minutes.

Calm before the storm.

Rampion

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Quote from: capsqrl on July 17, 2013, 01:23:37 PM

What's going on with volume? Seems like only about 30 BTC has changed hands in the last 30 minutes.

BTC8.83 in the last 25 minutes to be exact.

That explains how "the traditional banking system is unable to keep up with the demands of a growing Bitcoin economy", poor Gox whose load is crashing the Mizuho bank, which has a yearly revenue of +1 billion

Cheesy

capsqrl

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What's going on with volume? Seems like only about 30 BTC has changed hands in the last 30 minutes.

Abandon

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Quote from: Ultraviolet on July 17, 2013, 01:08:21 PM

Quote from: ?? on ??

And they will be met with buys.

After it reaches the bottom.

97 is acting very similar to 100 right now. It can be broken temporarily once in a while, but then it's pushed back.

Ultraviolet

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Activity: 84

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Quote from: ?? on ??

And they will be met with buys.

After it reaches the bottom.

Ultraviolet

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It's been like 4 attempts at 100/100+ that have failed. Unless price begins to move up, sells will come.

ChartBuddy

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Abandon

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Quote from: lucas.sev on July 17, 2013, 12:39:17 PM

Quote from: Abandon on July 17, 2013, 12:13:06 PM

There's the adoption rate, and then there's the hoarding percentage.
The higher the percentage of hoarders, who are not weak hands, the more upward pressure there is, as we can see now. So even if the market looks bearish to the weak hands, it won't go down nearly as easily with the strong hand hoarders/investors, who look at the more long-term, or are not easily shaken.

Bitcoin can either go up from adoption, traders, or investors.

If there's an influx of adoption, there is increased demand

If the traders think the market will go up, there is increased demand

If the investors think the price will go up in the long-term, there is increased demand.

It's the weak hands that push the price down (and largely responsible for volatility). The strong hands hold the market up, and prevent it from going to the floor so easily.

The strong hands do nothing, its the big buyers who prevented the slide from continuing and going to the floor.

It's because they did nothing that the buyers were able to prevent it from sliding to the floor. They would be weak hands if they sold.

lucas.sev

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Quote from: Abandon on July 17, 2013, 12:13:06 PM

There's the adoption rate, and then there's the hoarding percentage.
The higher the percentage of hoarders, who are not weak hands, the more upward pressure there is, as we can see now. So even if the market looks bearish to the weak hands, it won't go down nearly as easily with the strong hand hoarders/investors, who look at the more long-term, or are not easily shaken.

Bitcoin can either go up from adoption, traders, or investors.

If there's an influx of adoption, there is increased demand

If the traders think the market will go up, there is increased demand

If the investors think the price will go up in the long-term, there is increased demand.

It's the weak hands that push the price down (and largely responsible for volatility). The strong hands hold the market up, and prevent it from going to the floor so easily.

The strong hands do nothing, its the big buyers who prevented the slide from continuing and going to the floor.

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