Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33183.

tHash

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Quote from: Rampion on May 29, 2013, 03:11:10 PM

Quote from: Miz4r on May 29, 2013, 03:00:14 PM

Quote from: TsuyokuNaritai on May 29, 2013, 02:50:55 PM

http://www.thegenesisblock.com/bitcoin-trading-market-reaction-to-regulatory-news-is-remarkably-consistent/

Is the same thing happening right now? Interesting stuff...

Expected.

Only coinseeker would sell if the US says "Bitcoin is bad". Normal people will just buy all the coins they can with their fiat and transfer them to their wallets

Leaving jokes apart, all this is quite bullish for BTC. Despite of MtGox's fuck up, it's a fact that main BTC exchanges are trying to comply with regulations. And the sheriffs that busted LR say clearly that they are NOT after virtual currencies if they abid to FinCEN rules:

http://www.davidnews.com/2013/05/liberty-reserve-laundered-6-billion.html

That's the sheriffs press conference, listen carefully from minute 28:00

Quote

I want to make clear that today's actions does not mean that we are against virtual currencies

And you can see how the guy is implicitly referring to BTC, saying that it's ok if the exchanges are registered as MSB's

This is big, and may well be as close an "endorsement" from the government we have seen so far.

Rampion

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Quote from: Miz4r on May 29, 2013, 03:00:14 PM

Quote from: TsuyokuNaritai on May 29, 2013, 02:50:55 PM

http://www.thegenesisblock.com/bitcoin-trading-market-reaction-to-regulatory-news-is-remarkably-consistent/

Is the same thing happening right now? Interesting stuff...

Expected.

Only coinseeker would sell if the US says "Bitcoin is bad". Normal people will just buy all the coins they can with their fiat and transfer them to their wallets

Leaving jokes apart, all this is quite bullish for BTC. Despite of MtGox's fuck up, it's a fact that main BTC exchanges are trying to comply with regulations. And the sheriffs that busted LR say clearly that they are NOT after virtual currencies if they abid to FinCEN rules:

http://www.davidnews.com/2013/05/liberty-reserve-laundered-6-billion.html

That's the sheriffs press conference, listen carefully from minute 28:00

Quote

I want to make clear that today's actions does not mean that we are against virtual currencies

And you can see how the guy is implicitly referring to BTC, saying that it's ok if the exchanges are registered as MSB's

dexX7

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Which news?

AmazonStuff

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I bought the first 340BTC which started this mini-rally on Bitstamp, just because I received the good news, so let's see what will happen... Maybe I just lost a lot of money LoL Cheesy

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Miz4r

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Quote from: TsuyokuNaritai on May 29, 2013, 02:50:55 PM

http://www.thegenesisblock.com/bitcoin-trading-market-reaction-to-regulatory-news-is-remarkably-consistent/

Is the same thing happening right now? Interesting stuff...

dexX7

legendary

Activity: 1106

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Wow did I miss something? Coming back online and volume + price skyrocks. Bitstamp usually follows, but it's rare to spot that much volume backing up the move. Feels better than the 6k till 132 from a few hours earlier.

^ Bitstamp

130 done!

Quote from: wonkytonky on May 29, 2013, 02:49:59 PM

or is this normal for bitstamp?..

No!

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: wonkytonky on May 29, 2013, 02:39:27 PM

dammit i'm always to late buying.. im always to late selling.. again.. i missed it today came just home from work stuck in traffic..

jsfqmsjfqsdmfjqsdlfjkldsfjlqmskdf

https://play.google.com/store/apps/details?id=com.mtgoxlive.trader&hl=en

Not that I'd advocate fiddling with a phone in traffic.

IG0BR0KE

newbie

Activity: 56

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are we drawing a big Cup & Handle (H1 & H2)? Huh

the handle is rly not clear but there's a little bit of it

http://img15.hostingpics.net/pics/598686Capturedu20130529205607.png

Miz4r

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No this is a ridiculous amount for Bitstamp, someone just bought the entire wall.

TsuyokuNaritai

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http://www.thegenesisblock.com/bitcoin-trading-market-reaction-to-regulatory-news-is-remarkably-consistent/

wonkytonky

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wtf 1.3k buy's on bitstamp .. it seems we found where some of tha money from gox went too..

or is this normal for bitstamp?..

Miz4r

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Holy crap someone bought 1300 BTC on Bitstamp at $130. Shocked

wonkytonky

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dammit i'm always to late buying.. im always to late selling.. again.. i missed it today came just home from work stuck in traffic..

jsfqmsjfqsdmfjqsdlfjkldsfjlqmskdf

ardana123

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Frozenlock

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up Up UP!

NamelessOne

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It has begun! Grin

molecular

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Quote from: Its About Sharing on May 29, 2013, 01:52:50 PM

Quote from: Ultraviolet on May 29, 2013, 01:47:31 PM

Quote from: Frozenlock on May 29, 2013, 01:37:04 PM

Is there a way to see how many BTCs are short or long on bitfinex?

No, but you can discern a bit from the interest rates and sum available for loan. During the 110-115 stagnation there were tens of thousands of dollars in fiat sub 40%. Before Monday's dump the only decent interest rate was the variable interest rate (69%). You can also tell from how many people are trying to set limit orders for borrows.

Borrowing BTC to short has been really cheap in the last 3 weeks. At one point you could borrow like 400B for 2%.

How much of an effect can shorting coins on bitfinex have to the price on Gox though? I would say none. (Unless the coins are "physically" borrowed and then sold on Gox.)
If you want to drop the price of BTC's on the Net, you better try to do so on the biggest exchange...

IAS

afaik on bitfinex the coins are borrowed and actually sold (or bought) on exchange. Don't know if mtgox is currently active.

so yes, it has effect and there is also danger of squeezes.

Just checked the site and order book contains only bitfinex and bitstamp orders. so gox is not affected.

Ultraviolet

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The aggrandizing of the US Government's "triumph over evil in defense of the people" in the Liberty Reserve business is about the same bullshit they pulled with poker on Black Friday. Of course, in fairness, Full Tilt thought it was amusing to spend out of the funds held in trust for the players, so they were evil, but that is mostly irrelevant because what they went after FTP for was circumventing UIGEA. The rest of it was just public relations icing.

Someone just bought the 400B "wall" at 130.

Exciting times.

Its About Sharing

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Activity: 1442

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Antifragile

Quote from: wilfried on May 29, 2013, 01:54:38 PM

would be interesting to know the figures of bitfinex bets, but anyway - options work with 2 parties, so if the volume is low on gox it will be low on bitfinex too i bet.

the liberty reserve thing is majorly blown up by the us govx. they state that $6 billions where "washed" over lr, ... i suspect that sum is just the total business sum, because i doubt they are able to properly separate legitimate trades from "washing"-trades, besides that only a judge can tell in a verdict which sum was illegitimate. but it will make ordinary people stay away from anything resembling e-cash for a while- so low volume ahead.

i find the way the prosecutors present their case quite entertaining, just like if they would have won over evil. but looking at it from another perspective one could almost just as well state that lr was a succesful implementation of hawalla (http://en.wikipedia.org/wiki/Hawala) in the digital domain, and so a super cool startup company working really well with cool guys on top, sort of sugarberg etc.. Wink

talking about hawalla, i hope bitcoin is "hawalla 2000"

Ever been to court and have a prosecutor read their "recommended sentencing"? I thought I was in the wrong court!
Seriously, they speak like they get training from a corrupt government - oh wait...

Good point you brought up and it crossed my mind. They are trying to propagandize something to be much larger than it probably was. Amazing, HSBC can admit to Laundering 8 billion in drug cartel money, Wachova can do 100's of Billions, and nothing happens to neither. The good thing is that most people know that now and it will probably effect what we are more than likely about to go, or get pulled into...

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