Can still easily sell 20k coins at mtgox and still keep price above $100 on mtgox and 50k coins while still keeping price above $90. Can't say the same for other exchanges.
Yes sure, but theres a chance their 20k BTC worth of dollars might disappear overnight. At the best it will sit in gox's account with no easy way to get it out 
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32886. (Read 26467979 times)
June 21, 2013, 03:28:32 AM
June 21, 2013, 03:24:43 AM
I suspect this arbitrage will last until Mtgox re-enables withdrawals. To be honest, I'm not so tempted to take advantage of it. I bought 25 BTC at Bitstamp under 100, and while moving it to gox would net me about $300, it doesn't feel worth the effort. My total bitcoin stash fluctuates by far more then $300 on an hourly basis, so it feels like nitpicking.
Move more over and sell and take a short position then. Afterall, it's weekend again, and the native Sunday dumper may re-appear this week.
Can still easily sell 20k coins at mtgox and still keep price above $100 on mtgox and 50k coins while still keeping price above $90. Can't say the same for other exchanges.
June 21, 2013, 03:24:32 AM
Why? Price are higher than everywhere else.
Seems like a perfect place to sell.
Seems like a perfect place to sell.
June 21, 2013, 03:18:20 AM
I suspect this arbitrage will last until Mtgox re-enables withdrawals. To be honest, I'm not so tempted to take advantage of it. I bought 25 BTC at Bitstamp under 100, and while moving it to gox would net me about $300, it doesn't feel worth the effort. My total bitcoin stash fluctuates by far more then $300 on an hourly basis, so it feels like nitpicking.
Move more over and sell and take a short position then. Afterall, it's weekend again, and the native Sunday dumper may re-appear this week.
June 21, 2013, 03:17:32 AM
Pretty happy to be on Bitstamp right now, I think we will see a few more big dumps from people cashing out of gox over the next day or two. My buys at 95 went through, and now I've sold them to do it all again 
June 21, 2013, 03:04:52 AM
I suspect this arbitrage will last until Mtgox re-enables withdrawals. To be honest, I'm not so tempted to take advantage of it. I bought 25 BTC at Bitstamp under 100, and while moving it to gox would net me about $300, it doesn't feel worth the effort. My total bitcoin stash fluctuates by far more then $300 on an hourly basis, so it feels like nitpicking.
Move more over and sell and take a short position then. Afterall, it's weekend again, and the native Sunday dumper may re-appear this week.
June 21, 2013, 03:01:08 AM
June 21, 2013, 02:53:33 AM
I suspect this arbitrage will last until Mtgox re-enables withdrawals. To be honest, I'm not so tempted to take advantage of it. I bought 25 BTC at Bitstamp under 100, and while moving it to gox would net me about $300, it doesn't feel worth the effort. My total bitcoin stash fluctuates by far more then $300 on an hourly basis, so it feels like nitpicking.
June 21, 2013, 02:45:15 AM
http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html
So... who's the market price now?
Quote
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
So... who's the market price now?
But... but... that doesn't necessary imply BitPay isn't using Gox anymore at all, right?
BitPay must already have tons of USD at mtgox waiting for withdraw, i don't think they're going to add more risk...
I suspect users like Bitpay have some sort of special priority agreements with GOX. I doubt that they are having their money access cut off.
June 21, 2013, 02:18:48 AM
price is floating up on light volume, and even small sales are enough for it to get hammered back down. No doubt about it, this is a fake rally designed to let people sell high. Bail while you can! Full disclosure, I'm short from $106.5
Yes and we have the makings of a 3rd straight day of higher prices on progressively lower volume. This happened last week on the 9-11 (no pun) and we wen't down afterwards. It is a tell tale downward formation (if it holds)...
+1
[On Bitstamp prices...]
It's looking like a triple top - three failed attempts to get over the 108 bar, with retraces back to 102 each time. I doubt we will see a forth.
However... the last retrace only touched 102, with a sharp bounce back. This starts looking a bit like a rising triangle, which is bullish. From this perspective, getting over 108 is a smaller leap.
There is a good deal of resistance over 108 though, which would need a lot of buying power to punch through. Therefore, I'm about 85% bearish for the trend for the next few days. I have orders in around 101 and 91 to catch the retrace back to the 18th or profit from another 10% fall beyond this.
P.S. I bought at 99 and sold at 107 since the 18th. I missed the first spike (sell price too high - by 0.5 BTC annoyingly!) and then just missed last night's dip (buy was at 101, and only 102 was reached). You can't win them all though!
Well, that worked out well!
It all panned out as expected, with both my 101 and 91 buys coming in last night. The latter was a pleasant surprise.
After looking at the state of the Bitstamp order book, I just sold all for 102, taking a decent profit.
I'm not certain where my next buy in point will be, but I'm thinking somewhere between 85 and 95. I have some thinking to do first though.
June 21, 2013, 02:16:12 AM
Ok now I'm really tempted to buy at Bitstamp and sell at MtGox.
i'm doing it . :-) veryyyy slooooowwwwlyy hahaah
June 21, 2013, 01:09:02 AM
http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html
So... who's the market price now?
Quote
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
So... who's the market price now?
But... but... that doesn't necessary imply BitPay isn't using Gox anymore at all, right?
BitPay must already have tons of USD at mtgox waiting for withdraw, i don't think they're going to add more risk...
June 21, 2013, 12:58:57 AM
http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html
So... who's the market price now?
Quote
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
So... who's the market price now?
But... but... that doesn't necessary imply BitPay isn't using Gox anymore at all, right?
June 21, 2013, 12:48:34 AM
"User friendly"
"It's easier to tell people how cool Bitcoin is then to tell them how to get Bitcoin"
"Positive use case scenario's has to increase"
"The ability for people to use it easily"
"It has to be easy for my mom to sign up and use it"
"Entrepreneurs and venture capital dollars are flooding into the market and I think all of those problems are fixable"
June 21, 2013, 12:46:00 AM
"User friendly"
"It's easier to tell people how cool Bitcoin is then to tell them how to get Bitcoin"
"Positive use case scenario's has to increase"
"The ability for people to use it easily"
"It has to be easy for my mom to sign up and use it"
June 21, 2013, 12:38:01 AM
http://soundcloud.com/ytcracker/ytcracker-bitcoin-baron-v1-ssl
never a dull moment
their no way bitcoin is worth less then 10K each....
never a dull moment
their no way bitcoin is worth less then 10K each....
I'm tempted to sell everything after listening to that.
Wasn't it said before that once bitcoin is mentioned in rap music, that it will take off?
I think it would take someone a little more relevant than ytcracker rapping about it.
June 21, 2013, 12:36:20 AM
http://soundcloud.com/ytcracker/ytcracker-bitcoin-baron-v1-ssl
never a dull moment
their no way bitcoin is worth less then 10K each....
never a dull moment
their no way bitcoin is worth less then 10K each....
I'm tempted to sell everything after listening to that.
Wasn't it said before that once bitcoin is mentioned in a rap song, that it will be the hallmark of mass adoption?
June 21, 2013, 12:32:38 AM
http://soundcloud.com/ytcracker/ytcracker-bitcoin-baron-v1-ssl
never a dull moment
their no way bitcoin is worth less then 10K each....
never a dull moment
their no way bitcoin is worth less then 10K each....
I'm tempted to sell everything after listening to that.
June 21, 2013, 12:23:56 AM
http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html
So... who's the market price now?
Quote
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
So... who's the market price now?
BitPay is only offering $99/btc before their fee (another 1%).
June 21, 2013, 12:19:57 AM
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