Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33063.

nmersulypnem

full member

Activity: 238

Merit: 100

Quote from: ThatDGuy on June 20, 2013, 12:42:27 PM

Quote from: adamstgBit on June 20, 2013, 12:27:09 PM

Quote from: dexX7 on June 20, 2013, 12:25:21 PM

Quote from: adamstgBit on June 20, 2013, 12:19:58 PM

can someone please link a press release about this?

https://mtgox.com/press_release_20130620.html

my god this is bullish

Quote from: the press release

Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts.

Agreed on bullish.

There's definitely some bull in there...

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: adamstgBit on June 20, 2013, 12:27:09 PM

Quote from: dexX7 on June 20, 2013, 12:25:21 PM

Quote from: adamstgBit on June 20, 2013, 12:19:58 PM

can someone please link a press release about this?

https://mtgox.com/press_release_20130620.html

my god this is bullish

Quote from: the press release

Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts.

Agreed on bullish.

eltonjock

newbie

Activity: 34

Merit: 0

https://i.imgur.com/b0jWUnR.png

Whoa.

dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: gbh on June 20, 2013, 12:33:28 PM

No.

Quote

The state's Department of Financial Services (DFS) said Mitsubishi-UFJ moved billions of dollars through its New York branch between 2002 and 2007 for state and private entities in Iran, Sudan and Myanmar, including entities on the US Treasury's blacklist.

It's not connected to Gox and the bank still seems to be fine.

Edit: Japan is part of the United Nations, so it's not actually the US who is behind this. While they are probably the ones who pushed the sanctions, it's under UN's banner.

samson

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Activity: 2097

Merit: 1070

Quote from: gbh on June 20, 2013, 12:33:28 PM

Maybe it's just me but it seems a little strange that the US government are fining foreign banks huge amounts of money for doing business in different parts of the world.

adamstgBit

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Activity: 1904

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Trusted Bitcoiner

Quote from: gbh on June 20, 2013, 12:33:28 PM

no

but my god this is bullish too! Cheesy

gbh

newbie

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dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: adamstgBit on June 20, 2013, 12:27:09 PM

my god this is bullish

A few posts back there is a quote that Gox broke the cashout API, so they were forced to shut it down.

Voodah

sr. member

Activity: 266

Merit: 250

Quote from: adamstgBit on June 20, 2013, 12:19:58 PM

Quote from: ?? on ??

Damn, it's clear what is going on, now that you cannot retrieve USD from GOX for the next two weeks.

US based GOX users are withdrawing their coins to their wallet and users with USD on GOX are buying coins and also withdrawing them to their wallet.
This will make the price go up, but for how long? And what will happen then?

2 weeks and everyone is bailing?
I guess they expect the 2 weeks to turn into forever

can someone please link a press release about this?

Indeed. The underlying issues behind the announcement are probably more worrying.

Two weeks is not a long time, but they are probably thinking more along the lines "mmhmm mtgox has been targeted now.. will it ever be safe again??"

I know I would have that feeling if it were me trapped inside. Trust does not come and go. Once it's gone, there's no coming back.

adamstgBit

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Trusted Bitcoiner

Quote from: dexX7 on June 20, 2013, 12:25:21 PM

Quote from: adamstgBit on June 20, 2013, 12:19:58 PM

can someone please link a press release about this?

https://mtgox.com/press_release_20130620.html

my god this is bullish

dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: adamstgBit on June 20, 2013, 12:19:58 PM

can someone please link a press release about this?

https://mtgox.com/press_release_20130620.html

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: adamstgBit on June 20, 2013, 12:19:58 PM

Quote from: ?? on ??

Damn, it's clear what is going on, now that you cannot retrieve USD from GOX for the next two weeks.

US based GOX users are withdrawing their coins to their wallet and users with USD on GOX are buying coins and also withdrawing them to their wallet.
This will make the price go up, but for how long? And what will happen then?

2 weeks and everyone is bailing?
I guess they expect the 2 weeks to turn into forever

can someone please link a press release about this?

Hard to believe everyone is suddenly leaving.

Frozenlock

sr. member

Activity: 434

Merit: 250

I would assume that most of them just hope for a higher price.

As much of those who bought today.

Anyone here bought today to leave MtGox (if you are there) and never return?

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: ?? on ??

Damn, it's clear what is going on, now that you cannot retrieve USD from GOX for the next two weeks.

US based GOX users are withdrawing their coins to their wallet and users with USD on GOX are buying coins and also withdrawing them to their wallet.
This will make the price go up, but for how long? And what will happen then?

2 weeks and everyone is bailing?
I guess they expect the 2 weeks to turn into forever

can someone please link a press release about this?

dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: Rampion on June 20, 2013, 11:25:12 AM

No, not sold - well, some of them YES, but obviously not so many. I think they were not only taken off the book, a lot of it may have left Gox for good... This kind of news (International wires to USA stop for 2 weeks) scares a lot a certain kind of people (pussies?), and they panic and just take their coins off Gox. Same thing happened when the dwolla thing.

That's what I thought. There is still a huge amount of goxcoins sitting on 128-132 at Bitstamp, which appeared after the Dwolla incident. Things got really better compared to the first days and there is no reason to fear, because the holders showed patience in the past, but it's still to keep in mind that Bitstamp is kinda capped on smallish ralleys.

And it won't get better now. But whatever, Dwolla showed, how bad the market could have reacted to such news and it's still very stable. And if it holds under such pressure, the consequence is very bullish, when things settle down.

gizmoh

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Activity: 1428

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Quote from: nmersulypnem on June 20, 2013, 11:38:43 AM

Quote from: Jozzaboy on June 20, 2013, 11:36:58 AM

Quote from: Rampion on June 20, 2013, 11:25:12 AM

Quote from: dexX7 on June 20, 2013, 11:12:49 AM

The huge decline in asks.. were they sold or taken off the book?

No, not sold - well, some of them YES, but obviously not so many. I think they were not only taken off the book, a lot of it may have left Gox for good... This kind of news (International wires to USA stop for 2 weeks) scares a lot a certain kind of people (pussies?), and they panic and just take their coins off Gox. Same thing happened when the dwolla thing.

I have to say these are very profitable moments, in the sense that its very easy to predict what panickers will do. I remember when we had the blockchain fork, oh gosh I bought so many coins during that crash... Really, this kind of news and the panickers reaction are a Bitcoin trader best friends

What if spooked folks are transferring their coins to other exchanges and cashing out before the their imaginary shitstorm hits them?

Doing the opposite is easy money. 7% instant increase on whatever you invest. Buying into the panic has never been so profitable.

Taking risk to earn 7% by arbing and ending with USD in Gox can cost more if this situation is not resolved in 2 weeks. we know how reliable Gox is.

Voodah

sr. member

Activity: 266

Merit: 250

Quote from: nmersulypnem on June 20, 2013, 11:38:43 AM

Quote from: Jozzaboy on June 20, 2013, 11:36:58 AM

Quote from: Rampion on June 20, 2013, 11:25:12 AM

Quote from: dexX7 on June 20, 2013, 11:12:49 AM

The huge decline in asks.. were they sold or taken off the book?

No, not sold - well, some of them YES, but obviously not so many. I think they were not only taken off the book, a lot of it may have left Gox for good... This kind of news (International wires to USA stop for 2 weeks) scares a lot a certain kind of people (pussies?), and they panic and just take their coins off Gox. Same thing happened when the dwolla thing.

I have to say these are very profitable moments, in the sense that its very easy to predict what panickers will do. I remember when we had the blockchain fork, oh gosh I bought so many coins during that crash... Really, this kind of news and the panickers reaction are a Bitcoin trader best friends

What if spooked folks are transferring their coins to other exchanges and cashing out before the their imaginary shitstorm hits them?

Doing the opposite is easy money. 7% instant increase on whatever you invest. Buying into the panic has never been so profitable.

Where's this 7% coming from?

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

We will move higher....

even with ask depth going down on mtgox, mtgox is still the place where there are the most suckers willing to sell bitcoins for a small fiat profit ( sad but true )

Rampion

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Quote from: Kupsi on June 20, 2013, 11:42:15 AM

Quote from: Rampion on June 20, 2013, 11:25:12 AM

Quote from: dexX7 on June 20, 2013, 11:12:49 AM

The huge decline in asks.. were they sold or taken off the book?

No, not sold - well, some of them YES, but obviously not so many.

A decent amount was sold (bought).

http://bitcoincharts.com/charts/mtgoxUSD#rg1zczsg2013-06-20zeg2013-06-20ztgMzm1g10zm2g25zv

Yes, we had nice volume. With a quick look at the charts you will see that aprox. 50% of the amount that vanished was bought - and the other 50% was not Wink

Richy_T

legendary

Activity: 2576

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: Dalib on June 20, 2013, 10:47:10 AM

Whatever this image is, it's being blocked by my company's web filter as a virus has been found on the website. Just so you know.

MAL/HTMLGen-A

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