Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33333. (Read 26463088 times)
May 15, 2013, 04:27:51 PM
Anyone else predict that the price is going to jump once Mt.Gox gets back on its feet?
May 15, 2013, 04:26:40 PM
With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)
It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out $'s at the moment they are just holding on to their BTC instead.
MtGox can pay out US$'s at the moment via wire transfers.
This is the normal way of making large international payments.
May 15, 2013, 04:25:00 PM
It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out $'s at the moment they are just holding on to their BTC instead.
It's hard to tell what's going on now since most people can't even get the site to load, but I converted the dollars I had on Gox to BTC and moved them off this morning. I really don't think anything major will come of this Dwolla situation but this morning it was all kinda muddy and I feel better with it in Armory for now.
Move it to Bitstamp. Way nicer interface anyways.
May 15, 2013, 04:24:51 PM
This:
http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/
http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/
Quote
It’s important to note here that Homeland Security is not cracking down on Bitcoin itself, just on how it’s being exchanged by Mt. Gox. This is actually good news for Mt. Gox’s US-based competitors, such as Seattle-based CoinLab and San Francisco-based Coinbase, Bitcoin exchanges that have registered with the Treasury Department as money transmitters and thus are in the legal clear to conduct Bitcoin <—> $ exchanges.
May 15, 2013, 04:24:11 PM
It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out $'s at the moment they are just holding on to their BTC instead.
It's hard to tell what's going on now since most people can't even get the site to load, but I converted the dollars I had on Gox to BTC and moved them off this morning. I really don't think anything major will come of this Dwolla situation but this morning it was all kinda muddy and I feel better with it in Armory for now.
May 15, 2013, 04:16:29 PM
I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.
Actually, following up on that... I've noticed a lot of asks/bids with zero quantity scrolling by on clark moody, such as this:
No idea what that's about.
May 15, 2013, 04:13:14 PM
With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)
It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out $'s at the moment they are just holding on to their BTC instead.
May 15, 2013, 04:11:03 PM
With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)
Bitcoin is designed to cope with being illegal. There is a reason Satoshi never revealed his name. Even if MtGox is killed, we will always have ways to get money in and out of fiat.
May 15, 2013, 04:08:47 PM
With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)
May 15, 2013, 04:08:23 PM
I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.
IP address of mtgox.com is 72.52.5.67.
Info from http://whois.domaintools.com/72.52.5.67
AS32787 PROLEXIC-TECHNOLOGIES-DDOS-MITIGATION-NETWORK - Prolexic Technologies, Inc. (registered Jul 23, 2004)
May 15, 2013, 04:08:16 PM
After reading the seizure warrent, I'd say: not a huge deal. They target US based money supply. Even the seized banking account at Wells Fargo was only filled with Dwolla cash, which was sent to Japan. It seems Dwolla was the only critical part. As (hopefully) the other funding options (i.e. wire transfer) aren't linked to US accounts, it should be fine.
Lesson learned today: if you want to do business in the US, you have to do proper US paperwork. And tbh this isn't something unexpected.
Lesson learned today: if you want to do business in the US, you have to do proper US paperwork. And tbh this isn't something unexpected.
Any accounts that wire money to Americans are at risk. Generally, it goes offshore bank --> intermediary (US) bank --> customer bank. That's why we get MT Gox wires from Chase NY, etc. Lots of online gambling money gets nabbed by the feds this way. In reality, they can seize offshore accounts where they have existing bank treaties, when there is "cause".
IMO, don't assume this is the end of this. Some thoughts on the subject: https://bitcointalksearch.org/topic/m.2114965
Trying to remain positive here, though.
I think what we need is a simple money transfer service (similar to PayPal or Dwolla) that cannot be reversed. Then any individual could easily convert USD/BTC and vice versa.
Any such individual transactions wouldn't need government permission to operate.
May 15, 2013, 04:07:21 PM
I seriously wonder how this is going to end up.
Because Bitcoin loves to troll us.
Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good.
Thanks! Do they have a range of IPs to ease ddosing?
BTC-E: yesterday they were sub 100. Big price diffference.
May 15, 2013, 04:04:13 PM
BitStamp dump time again...
we can buy the price back up again with a very small buy.. it's not dumping.. it's a few bitcions beeing traded.
May 15, 2013, 04:03:46 PM
Thanks! Do they have a range of IPs to ease ddosing?
I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.
May 15, 2013, 03:58:24 PM
I seriously wonder how this is going to end up.
Because Bitcoin loves to troll us.
Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good.
Thanks! Do they have a range of IPs to ease ddosing?
May 15, 2013, 03:56:54 PM
I seriously wonder how this is going to end up.
Because Bitcoin loves to troll us.
Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good.
May 15, 2013, 03:55:21 PM
I seriously wonder how this is going to end up.
Because Bitcoin loves to troll us.
May 15, 2013, 03:53:32 PM
I seriously wonder how this is going to end up.
Because Bitcoin loves to troll us.
May 15, 2013, 03:52:52 PM
Bitcoin is 101 at BTC-E right now
the end is neigh
Bitstamp is at 108
I seriously wonder how this is going to end up.
May 15, 2013, 03:52:32 PM
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