Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32351. (Read 26469706 times)

maybe it has something to do with:

The outgoing Homeland Security Secretary has a warning for her successor: A massive and “serious” cyber attack on the U.S. homeland is coming, and a natural disaster — the likes of which the nation has never seen — is also likely on its way.

http://abcnews.go.com/blogs/politics/2013/08/outgoing-dhs-secretary-janet-napolitano-warns-of-serious-cyber-attackunprecedented-natural-disaster/

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the cyber attack may be a way to shift blame from the banksters when they pull the pin on the economy - a good time for that would be after the US launches a couple of missiles on Syria.

Yes he would have.  It started long before then.

So those holding MTGox USD CAD will make a killing in this bear market?

Edit: Scratch MTGox USD to risky, but MTGox CAD that would be interesting.  

Gox. The ask depth has been steadily vaporizing. NO ONE wants fiat on Gox and you gotta buy btc to get it off. lmfao. the perfect scheme by Gox. Basically extortion.

We are going to rocket up like never before imo. New highs within a week. Then incredible crash.

On which exchange?

Only 40k coins to surpass April's peak. Lmfao, the crash following gonna be so epic. I'm revising former prediction of single digits, to double cents. Probably $0.67.

I think a lot of people realize that even with the insolvency/seizure risk (and low float rate) it might still better to hold six figures (or more) on an exchange rather than withdrawing and declaring taxes on it. This obviously depends on our cost/benefit analysis.

They can mitigate this risk by buying BTC when the exchange has a cash flow problem or is facing regulatory scrutiny.

One could analyze the cost/benefit ratio this way: One could determine the risk of holding X sum of money on a given exchange (or multiple exchanges) and subtract a conservative amount of risk for proper management (i.e. going all-in to BTC when the risk of seizure/insolvency increases). They could determine the tax liability as well, which is the risk of withdrawal. Compare these risks against each other and one can determine whether it is safer to keep USD on an exchange (with the caveat that it must be converted into BTC, exposing one to exchange rate risk, when the regulatory or cash flow issues present themselves) or to accept the tax liability.
 
Obviously we can argue all day and night over which strategy has more risk, since some of the risks aren't easily quantifiable. We don't really have the data to asses this (we'd need everything from WMA bitcoin exchange float rates to % recoverable funds to current "bitcoin VIX" or downside move stats tax liabilites in various jurisdictions) but I'm sure there are some people who are starting to realize they can use the exchanges as a 'non-anonymous yet no-tax-liability so long as I don't withdraw' offshore bank account to some degree, holding their fiat there forever and then purchasing, shuffling and anonymizing BTC for purchase OTC or to anonymously/pseudonymously purchase real goods and services without having to declare the income first. I'm not saying this is an invincible strategy, but the law enforcement burden would be enormous, and there are most likely rich folks out there doing exactly what I have described.

EDIT: In case the feds are reading, I don't have anywhere near enough money to even consider myself "a rich person trying to evade taxes on the internet," so please don't waste tax dollars investigating my broke a$$. I'm merely speculating on what these bastards are doing with the bitcoin price.

I think if we are talking about syndromes....everyone here sounds like we have stockholm syndrome.

Price shoots up and first thing everyone says is "oh shit we are going to PAY for this someday soon!", can't we just enjoy the uptick?

Smile, and live in the moment people!

This is not "too fast" for a small rally, and the whales aren't dumping anywhere else as of this posting....so stop acting like the victims of abuse that we are and get out there in the sunshine and have a good time.

I think it is the boiling frog syndrome.

A lot of people had six figures of money on Mt Gox and have been waiting weeks and now months for this exchange to get back to normal. The price going up is like the water getting hotter. Every now and again one of them decides enough is enough of being goxxed, and goes all-in to buy coins and jumps out of the saucepan. The last frogs (whales) left are going to lose all their money if Gox finally dies and has to shut down.

I don't think the idea of whales buying to get money off of Mt. Gox is really what is going on.  This is very structured, with protective walls keeping the price elevated for more pre-determined buys.  That does not sound like someone who is looking to buy lots of BTC and pull out.  You also do not see decreasing prices anywhere else for these coins.  This is something else entirely.  What I am not sure but someone knows something.  

MOO!

like gold?
Satoshi would not have invented bitcoin without 2008 crisis. He wrote some comments on the blockchain about it
Insanity is the financial system we have. Bitcoin is sanity.

I'm noticing an interesting phenomenon where positive news = dump btc for fiat (more likely you will be able to get your fiat off exchange later) and negative news = panic buy bitcoin (fiat might get locked on exchange for various reasons). This is pure insanity.

Bitcoin-friendly Internet Credit Union suddenly dumps account, citing "regulatory issues"

http://www.theverge.com/2013/8/30/4675908/internet-archive-credit-union-dumps-bitcoin-accounts-citing-regulatory-issues


and from Internet Credit Union



https://internetcreditunion.org/uncategorized/rocky-road-is-still-one-of-my-favorite-flavors/