Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33054.

adamstgBit

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Quote from: chriswilmer on June 20, 2013, 10:32:09 PM

More than a $10 USD difference between Bitstamp and Mt.Gox... I mean, I get the press release and all... but that doesn't seem like a sufficient reason. Especially for people who have a lot of USD on Mt.Gox, you'd think they would be fine with waiting a few weeks for the issue to resolve... (which I think it will)

how often has "coming in 2 weeks" turned into a full year with bitcoin related things?

poeple that NEED the USD best be getting the F out

chriswilmer

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More than a $10 USD difference between Bitstamp and Mt.Gox... I mean, I get the press release and all... but that doesn't seem like a sufficient reason. Especially for people who have a lot of USD on Mt.Gox, you'd think they would be fine with waiting a few weeks for the issue to resolve... (which I think it will)

FNG

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Woke up and accessed clark moody about 800 into that huge buy. Todays going to be a good day lol Grin

Frozenlock

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2500 BTC buy! Holy slippage batman!

nmersulypnem

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Quote from: ArticMine on June 20, 2013, 09:58:53 PM

Quote from: dexX7 on June 20, 2013, 09:52:46 PM

I was wondering: why would anyone set up a wall on 99.80, when there is no almost depth till 90? I'd say there might be a dumping round 2 on Bitstamp.

But it's strange. If those were goxcoins, why would they take such a high price difference? Or was cashing out via gox never intended at all and high rollers knew already, that they have to use another exchange? Well okay, they didn't buy at 114.48 and sold at 90 of course - it's something inbetween and maybe not that huge difference at all.

But it's all speculation..

I suspect a panic by weak hands holding MTGox USD not the high rollers. Hence the dump on Bitstamp.

Agreed, but dumps on bitstamp need to be in proportion to MtGox buy-ups for that thesis to make sense. We've only seen a handful of buy-ups and dumps. If MtGox stays stable (as it is), I wouldn't expect prices to go down on bitstamp.

adamstgBit

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Quote from: 420 on June 20, 2013, 09:59:59 PM

can someone show me a copy of the gox official announcement

I stopped using gox months ago

https://mtgox.com/press_release_20130620.html

ChartBuddy

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420

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can someone show me a copy of the gox official announcement

I stopped using gox months ago

ArticMine

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Quote from: dexX7 on June 20, 2013, 09:52:46 PM

I was wondering: why would anyone set up a wall on 99.80, when there is no almost depth till 90? I'd say there might be a dumping round 2 on Bitstamp.

But it's strange. If those were goxcoins, why would they take such a high price difference? Or was cashing out via gox never intended at all and high rollers knew already, that they have to use another exchange? Well okay, they didn't buy at 114.48 and sold at 90 of course - it's something inbetween and maybe not that huge difference at all.

But it's all speculation..

I suspect a panic by weak hands holding MTGox USD not the high rollers. Hence the dump on Bitstamp.

dexX7

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I was wondering: why would anyone set up a wall on 99.80, when there is no almost depth till 90? I'd say there might be a dumping round 2 on Bitstamp.

But it's strange. If those were goxcoins, why would they take such a high price difference? Or was cashing out via gox never intended at all and high rollers knew already, that they have to use another exchange? Well okay, they didn't buy at 114.48 and sold at 90 of course - it's something inbetween and maybe not that huge difference at all.

But it's all speculation..

ArticMine

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Quote from: solex on June 20, 2013, 09:40:10 PM

Quote from: ArticMine on June 20, 2013, 09:37:51 PM

With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread.

Theory. With USD withdrawals delayed for up to 2 weeks on gox, people who need the US dollars (and don't have an account in another major currency) are moving coins to bitstamp and carpet-bombing the bids.

Yes this is true but it also creates the opportunity to arbitrage using Euros by placing trades on the MTGox Euro market that get executed on the MTGox US dollar market effectively withdrawing the US dollars out of MTGox as Euros.

nmersulypnem

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Quote from: solex on June 20, 2013, 09:40:10 PM

Quote from: ArticMine on June 20, 2013, 09:37:51 PM

With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread.

Theory. With USD withdrawals delayed for up to 2 weeks on gox, people who need the US dollars (and don't have an account in another major currency) are moving coins to bitstamp and carpet-bombing the bids.

I think most people at this point are speculators who don't *need* this cash day-to-day. The panic is speculation driven, not cash flow driven.

solex

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100 satoshis -> ISO code

Quote from: ArticMine on June 20, 2013, 09:37:51 PM

With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread.

Theory. With USD withdrawals delayed for up to 2 weeks on gox, people who need the US dollars (and don't have an account in another major currency) are moving coins to bitstamp and carpet-bombing the bids.

ArticMine

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With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread when compared to a 2.5% exchange fee between USD and EUR

inbox

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Whats up with clarkmoody, orders are flowing like diarrhea.

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Quote from: ArticMine on June 20, 2013, 09:18:51 PM

Quote from: adamstgBit on June 20, 2013, 09:13:32 PM

Quote from: ArticMine on June 20, 2013, 09:08:37 PM

Quote from: adamstgBit on June 20, 2013, 08:58:26 PM

... there's no sense in holding fiat at MtGox...
MtGox will be at 180 in 6 business days

Or maybe some bears from Europe will show up on MTGox a lot sooner. They are likely asleep now.

i'm not going to ask if the MtGox EUR market is sperate from the MtGox USD market, because I fear my head will explode if i do

They are not separate. https://support.mtgox.com/entries/20800336-Multi-Currency-Trading, which is why there may be some very interesting action in a few hours.

They are quasi-the-same. Meaning the offers placed on the EUR book, also appear on the USD book. However, since they appear at a 2.5% discount (currency-exchange fee) they aren't really competitive. I think most big players play on the USD book since it has the most liquidity.

Either way, yeah, we may see movement in ~5 hrs when London wakes up.

ArticMine

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Quote from: adamstgBit on June 20, 2013, 09:13:32 PM

Quote from: ArticMine on June 20, 2013, 09:08:37 PM

Quote from: adamstgBit on June 20, 2013, 08:58:26 PM

... there's no sense in holding fiat at MtGox...
MtGox will be at 180 in 6 business days

Or maybe some bears from Europe will show up on MTGox a lot sooner. They are likely asleep now.

i'm not going to ask if the MtGox EUR market is sperate from the MtGox USD market, because I fear my head will explode if i do

They are not separate. https://support.mtgox.com/entries/20800336-Multi-Currency-Trading, which is why there may be some very interesting action in a few hours.

adamstgBit

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Quote from: ArticMine on June 20, 2013, 09:08:37 PM

Quote from: adamstgBit on June 20, 2013, 08:58:26 PM

... there's no sense in holding fiat at MtGox...
MtGox will be at 180 in 6 business days

Or maybe some bears from Europe will show up on MTGox a lot sooner. They are likely asleep now.

i'm not going to ask if the MtGox EUR market is sperate from the MtGox USD market, because I fear my head will explode if i do

ArticMine

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Quote from: adamstgBit on June 20, 2013, 08:58:26 PM

... there's no sense in holding fiat at MtGox...
MtGox will be at 180 in 6 business days

Or maybe some bears from Europe will show up on MTGox a lot sooner. They are likely asleep now.

ChartBuddy

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