Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32376. (Read 26470039 times)

That's what I thought, I would expect a statement at some point after the second meeting.

Yes, with congressmen.

Isn't there a second Bitcoin Foundation meeting today ?

Putting aside the possibility this buy was on 'insider knowledge' (it's not that rare to see buying of this nature on this scale) I'm not persuaded by the suggestion this is someone new entering the market (why the dickens would they want to buy at gox prices?).  If it is money that was already on gox likelihood is it is money that came from the sale of bitcoins sometime in the last four months.  I'm guessing I was not alone upon seeing the first drop deciding simply not to buy until I was reasonably confident the downtrend had finished.  I recommenced buying ten days ago.  I certainly wasn't the bravest nor the first but I'm also guessing I'm far from the last.

Remember a huge amount of USD was taken out of bitcoins in late April/May, some of it for good but much more I suspect on the wait-and-see principle.  Now it's looking less likely by the day that something disastrous is going to happen to the currency itself (a gox collapse excepted) so deciding just to go for it one night/morning (depending where these few buyers are) doesn't seem so unreasonable a behaviour.

Granted if they wanted to get the most bitcoins for their money they could have spent some time watching the walls and trading as many here do but not everybody has the time nor the interest to be playing that game.  On the bigger scale of things if they got out at a fair price to protect their assets with view to getting back in after the downtrend and are expecting this thing to resume exponential growth losing a few percentage points on slippage getting back in is not a big deal.

Of course I could be totally wrong and this may be the 'hammer' as I'm sure someone will be only to happy to remind us...

But this is how my preferred long-term wma weekly is currently looking:

By Vessenes' lack of a negative statement, we can infer that these recent buys weren't just an insider looking to get out of gox, and dump elsewhere before the bad news gets publicized. It would appear that it was a legitimate buy order. Cautious optimism is always a good bet, but i'm sure if there was truly cause for concern (beyond what is already known), Vessenes' would have said something.

That said, there are still hurdles.

Was this the case or did the wall got really eaten?

Yeah, i'm sure they have to make some sort of statement on this soon, days / weeks.. (probably days).
Right now, I'm treating this with catious optimism. I mean coupled with those buys this morning and in the absence of official statements, it's left to us to (speculate) put 2+2 together ourselves.
Catiously optimistic.

I wonder what the banks will make of this... I have a feeling that this is not the last we have heard from the government.

Look, I love bitcoin and I want to make money. But I would rather not start WWIII, I would like to enjoy my life.

I want to marry you.

Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing!

http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.html

Bottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”

and -

He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."

I dont understand.. if the news was bad and bitcoin was going to drop... why havent we seen dumping on the exchanges with working USD withdrawals? It has been long enough for that by now.

And what would very good news be? US switching from $ to BTC?
Bad news? Can gox be in even bigger trouble?
Maybe just speculation and/or manipulation.

Well there is an easy way to take advantage of both A & B.

Hold on for the ride A, or B set a reasonable/lowish sell point and gtfo while the getting is good. And even if you still believe in btc after the fall, you will have a bunch of fiat ready to buy back in 

This suspense is killing me!!!

I wanna know what happened at that meeting.. and i wanna know what's happening with the one later today.

That kind of volume as someone pointed out, can only mean one thing or the other..

A. Taking a big(er) position or
B. Dumping and getting out before the shit hits the fan.

I hate being a small guy and not knowing whats going on. Obviously someone does know which way the wind is blowing and they're keeping schtum.

Frustration!. If anyone finds out any related news, can they please let us know? - thank you,

2 possibilities :
* very good news we don't know about yet and whales are loading up on BTC while it's still "cheap"
* imminent Gox failure and whales are trying to get out

Yes.

The Bitcoin Foundation met with various US Government agencies today to discuss Bitcoin. We haven't gotten word on how those meetings went, but there are definitely people out there who know things we don't.

Whether those things are good or bad is still up for debate. One would want to lean towards good, but considering the Gox withdrawal issues with USD, this could be people "in the know" getting out of there asap because of incoming bad news.

This week will be interesting. Like it always is. Bitcoin.

when i see at 4 AM these huge buys and a 2m on bid between the price when i went to bed, it hardly makes me think it's organic growth but then again what is the differnece between this and the stock market?

Government industry collusion is not a transparent process.