Yet another triangle. Momentum building to break through below $127.

The next several hours will reveal whether the price movement stays in the channel.

I didn't see the sell orders, but yes it is to create lag. Where can I see the sell orders?

The code that generates the 3D charts is in github or somewhere.. ?
I remember reading that the code was in perl but I don't remember if it was released or something..

Thanks

This is the entry at 110:
{"price":110,"amount":15071.34118868,"price_int":"11000000","amount_int":"1507134118868","stamp":"1367807143242382"}

I'm not sure what the stamp is but as this is the only 110 entry, I'm thinking that this is probably an amalgamation of several orders. (I thought that that there was a stamp probably meant that there was one entry per order but I now think that's not the case).

{"price":110,"amount":419.25607783,"price_int":"11000000","amount_int":"41925607783","stamp":"1367811304391121"}

Anyone know where I can get the complete historic price data of Gox in USD? I was using BitcoinCharts but they don't allow you to specify beginning times at the moment.

The first 200,000+ trades used sequential integers for their tid values, up to 218868. After this, unix microstamps are used instead, starting with 1309108565842636.

To obtain all data, first fetch trades since 0, then feed in the last tid from the data you just fetched to get the next block of data. Repeat this process up until current data (note, make sure to limit your requests, e.g. 10 every 10 seconds, to avoid being blocked by the anti-DDoS filters)

The above method will work seamlessly across the tid transition

The primary field specifies whether the trade was originally ordered in the given currency - since trades may appear on multiple tickers, you may need to ignore trades with primary: 'N' values

As noted above, since gives the tid after which to obtain trades, so for example, passing since=10 will return trade data starting with the trade whose tid is 11.

Offtopic:
Guys, I`m trading < 400$

Trading fees:
gox 0.6%
bitstamp 0.5%
btc-e 0.2%

I'm choosing btc-e based on fee, Ignored withdrawal support for the moment, will transfer btc to an exchange with good withdrawal option when i want to withdraw.

Anything else you guys can share, being more experienced traders?

I bet that the +BTC1,5K at 109.99 will vanish as soon as bears start shooting.

Not sure if sarcasm or not...

There is no BTC reality. Currency value equals to amount of gold it holds.

Interesting watching the numerous 0.1337 sales nibble away at the available bids. I assume that it is a bot. I cannot figure a motive. Its not frequent enough to cause lag. It is not even handled - so I rule out an arb bot. Why not just buy from the large bid at the top of the depth in one lot.

Is it a signal among a team of traders? Does anyone do such a thing?

Btw. would I be allowed to make a bot that posts bank holiday information here every 24 hours? Do I need permission from the Mod Team or someone else?

They're holding the price at 113, whilst bitstamp just saw a $2.5 drop. Coincidence?

Almost everybody is out and waiting to buy back.

It's usually drawn as a triangle. But as someone with a physics background, I see it like this:

And if you zoom out we have a bigger triangle.

Does everyone around here have tunnel vision? Zoom in on an ant to tell the weather forecast?

Gox is banning by IP? LOL, that's a terrible solution to the bot problem.

500k of Bitcoins to start your day. Someone was hungry. And we barely moved.

Bears are running low on ammo, what's happening bulls? I thought you had bigger balls and a consistent attack was about to happen.

Clarmoody keeps getting disconnected. Another DDOS incoming?

where can I find the bid/ask sum charts guys?

Bid Sum is almost at all times high. Last time this happened we went to 160.

Have we left the racy moves behind and are now turtley going up, or will some tiny positive news ignite a rocket?

I've seen all the $500, $1000 and even $300k coin statements.  I truly hope that happens for people but if that's the case, who are these people paying $500-$300k per coin?  Because I know who it's not going to be.   

It don't get it also when people are emotionally influenced by the price of a whole 10^8 satoshi bulk. So weak mind indeed

any comments on the extremely thin bids on bitstamp?

I moved some coins there to sell to get some fiat out, as gox sounds like a long wait and expensive to get money back to UK.

Now I'm watching, waiting and pondering whether to use to buy more... but bitstamp looks a lot less solid than gox. Is that because a lot of Europeans are doing what I did?

Is there any easy way of importing the BTC/USD price into Metatrader as a currency pair?

We're in a severely overbought position.  Odds say, it's coming back down.  The longer it stays here, the harder that fall could be.

I'm thinking it should be possible to come up with some heuristics for how reliable bids and asks are based on how much and how far from the price they are based on historical data. Then it should be possible to generate a wall chart by removing low-confidence bids and asks. May have to give that a try.

I am currently archiving it but my /home is running out of space quickly so I need to work something out. Unfortunately, Gox returns a lot of data, most of which I don't use. I'm thinking of finding a way to strip that out (this would also speed up the generation of the chart since JSON-> Perl hash is fairly slow.

Though even with that, I don't actually retain enough data. Simply having the bids and asks isn't enough, I need the actual trades also. I think I'd best work out how to do socket.io for that though.

There is probably something behind this that we aren't aware of. If it was an attempt to cut GOX off from the US they would do something on the banking level. More likely someone has found a way to launder money via a Dwolla connection.

MtGox is a cancer on the Bitcoin ecosystem, it would be great long term news if people left there in droves. Like I said, buy bitcoins, move them off the site if you're actually scared. The last thing I'd go is have them wire me money, DHS could have told every bank in the US to freeze any incoming wires from them.

So now everyone can cash out, instead of being trapped in MtGox. Great. 

Still holding to your coins?

Isn't there any American citizen, lawyer, judge, or public employee or whatever with access to law requirement databases or similar that can provide some info on the reasons of MtGox seizure?
That should be documented somewhere?

on a second thought.. if someone has that info he would probably use it in his own benefit to buy or sell on a good price.

Are we going to break out of the downward channel?

Your constant desire to buy lower (along with others like you) when you have already had ample opportunity is what is devaluing the currency. It's a self-fulfilling prophecy.

At some point, the momentum of what you are trying to do in the short term  will overwhelm any momentum that will allow you to gain longer-term. People will just get bored. Then you can buy your cheap coins, and keep them.

Where do you guys read about Dwolla before the news broke??

Dwolla is not illegal, where as Bitcoin is in violation of the laws of nearly every country.

Thanks!  Do they have a range of IPs to ease ddosing?

Anyway, give this time. The AOL CD's (BTC wallets and services) are just getting started. Regardless of how well BTC does, we are more than likely going to see some very interesting innovations in the next 6 - 12 months. I mean, I am no longer an IT expert, many years removed but I was able to figure out how use most of the BTC tools and such.

Remember in the early days of the internet how those damn AOL cd's were all over the place? Many of us IT "geeks" hated them and thought it was a waste. Who needed that to connect? Just put your information in manually and then connect to the internet. I remember laughing that AOL stock was $5, man that wasn't worth it. Anyway, I called Amazon, Ebay and a host of other internet companies correctly, but I missed the one right in front of my nose due to my tech conditioning.

Well now, the wallets and much of the BTC technology is a bit non user friendly - quite rough around the edges for non computer people. The analogy here is that we are just getting started and perhaps some of the die hard BTC people don't see how we need "AOL CD" like things to make this journey easier for us.

That said, we are quite close to that. IT is not rocket science to make better wallets (e.g. - easily scan and import your private key and BTC's, not have to download the whole 7Gb of data with the standard client, etc.)

Do we have any independent confirmation that the supernode conference actually happened?

I went to the bitcoin summit and I do not regret going.

And then there's this :

http://www.reddit.com/r/Bitcoin/comments/1eg51m/bitpay_raises_2_million_led_by_founders_fund/

Three Paypal founders investing in BitPay !

Peter Andreas Thiel (born October 11, 1967) is a German-born American entrepreneur, venture capitalist, and hedge fund manager. Thiel co-founded PayPal with Max Levchin and served as its CEO. He currently serves as president of Clarium Capital, a global macro hedge fund with under $700 million in assets under management; a managing partner in The Founders Fund.

Thiel founded Palantir Technologies funded by the CIA's venture capital arm In-Q-Tel.

Those guys don't even work at Paypal. It has nothing to do with Paypal.

It's just saying, "Hey these guys who founded Paypal, are now investing in Bitpay!". http://www.foundersfund.com is the group that invested, which the 3 are part of.

As of the end of 2011 the firm [Founders Fund] was made up of the following partners:

• Peter Thiel, founder and former CEO and chairman of PayPal
• Ken Howery, founder and former CFO of PayPal
• Luke Nosek, founder and former vice president of PayPal
• Sean Parker, former president of Plaxo and Facebook, served as managing partner from the time he left Facebook in 2008 until 2011, when his title became Executive General Partner.
• Bruce Gibney
• Brian Singerman

They will tell me when I am clear to leave.

these straight lines are - some kind of market making bot?

The sideways trend of the past two days has been steadily resisted at $116, while the trading range has narrowed.

https://community.bitfinex.com/content.php/27-Gox-recent-news

Note the comment:

[BFX]Raphael - Today, 08:30 PM  Reply
The surprises of next week will surely make it up for it.

Dear traders and lenders, stay tuned
Raphael

I have heard before that bids can be put in without sufficient funds in the account

TOKYO - JAPAN - April 09, 2013

Orders will only be accepted when there are enough funds available in your wallet!

Dear users, starting on April 17th we will be rolling out a minor change on how people place orders via the Mt.Gox interface.

Until recently, anyone could place a buy or sell order for Bitcoin, regardless of how much funds were actually available in their wallet, resulting in an order showing a "Not enough funds" error status in the Open Orders list.

Starting on April 17th, this counter productive scenario will no longer be possible and will be automatically rejected before validating your order; until you have enough funds in your wallet to match the order value.

While this change should only affect a minority of users, it will however have a major impact on our trading platform and improve our system overall performance.  

Regards
Mt.Gox Co. Ltd Team.

Mt.Gox Contact press@mtgox.com

the question is whether it's worth buying more on bitstamp with such massive ask walls...

Real question is when we test 125, which failed 3 times when the market was more bullish 1.5-2 weeks ago, will we break through?

Yeah lots of coins from Gox there it seems. I personally think it's worth buying, those coins won't stay there forever and once all former US dwolla users who wanted to cash out have cashed out then the price will catch up to Gox's and you will regret not having bought earlier.

Not really a "rally" then is it? 

Gox has now deleted their first response to the DHS news from their web site and facebook page.

Someone please tell Mark that you can't take back what you've posted on the Internet.

Statement Regarding Dwolla:

Like many who have contacted us, MtGox has read on the Internet that the United States Department of Homeland Security had a court order and/or warrant issued from the United States District Court in Maryland which it served upon the Dwolla mobile payment service with respect to accounts used for trading with MtGox. We take this information seriously. However, as of this time we have not been provided with a copy of the court order and/or warrant, and do not know its scope and/or the reasons for its issuance. MtGox is investigating and will provide further reports when additional information becomes known.

Anyone else see a textbook head and shoulders formation? We're crossing thd neckline right now :/

I guess some investors would do that, but die hard BTC'ers would NEVER EVER allow their coins to be used for such purposes. In the grand scheme of things it is probably quite small at that site and I can only hope it stays that way. Again, due to the nature of the network, you are not going to see naked shorts. And, due to most keeping larger amounts of coins offline, you just won't get the short volume needed to manipulate.

Did I miss that point, really?

Hi, I've been playing around with Gnuplot during the last couple of days.



Any idea of what I could add or improve ?
Cheers !

everyone is busy at the conference

Back on topic. The daily chart looks to have a bullish triangle with higher lows. Breakout coming, anyone?

Anyhow, it seems that asks are stable, nobody is dumping, everybody is patiently waiting for their asks to be filled.

Edit:  Well...there goes that 500BTC over on Bitstamp.

leverage? not sure that is for me. I have a lot to learn yet and a special ability to sell low and buy high.

I just don't see bitstamp rising much higher at the moment, not even to 120.
The problem bitstamp has is that while it is rising (as you described), mt.gox is falling (ever since that 1000BTC ask wall appeared, there has been downward pressure). And while bitstamp has been getting stronger - they are sustaining about the same volume as mt.gox at the moment - they still can't defy mt.gox price leadership endlessly. Not when there is a huge mountain of BTC to buy up at the same time...

Seeing a time-compressed chart like this reminds me how much it has zoomed up already. Is it greedy to expect similar increases so soon? Even a gentle upward trend for the rest of the year would be a phenomenal result.

2nd May surely?!

I would say we have definitely entered panic buying mode. 

And so what if there is a hard rebound? It just means that if you play your cards right, you can profit more than once  . After all, how can you increase the number of bitcoins you hold if price never falls? Ok, you can always invest more fiat, but even that gets harder the more expensive the coins are...

I think that it will , but people here are not thinking so :/  but you cant trust anyone here ? I dont know ho to trust and who not to trust

So shuld i listen to you ?

Rally on volume?

Tide is changing, bears are puzzled... Wasn't this like 2011?

 

If you did not get it, the graph means that ATM the total amount of fiat in Bitstamp's order book is not enough to bring the price over $125.

Link, explanation, anything? 

I'm happy with AM, but LTC honestly has been better to me, but not by much.

As soon as there's a slight drop on Gox, Bitstamp absolutely shits itself. But when there's a big rise then Bitstamp just doesnt care.

 

Looks like a head and shoulders forming....watch for the width of that right shoulder.

Bitcoin is too risky/volatile ...
I don't like trading for that reason: Woooot, price just jumped ten dollars, lets crash it! weeeee, today bitcoin is worth 20 bucks more than yestarday

Yeah but, 131 is ~1800 coins away.  Fundamentally, nothing has really changed.

at current rate i think the wall is eaten in 2 or 3 days..  there's also a +1k short  @ bitfinex that at some point will close its position so it can go faster then we think.

http://blockchain.info/charts/estimated-transaction-volume?daysAverageString=7

Get real , everybody is hoarding as much as they can

Why always straight lines?  Why not a more complex function?

Mt. Gox has recently been informed by OKPay, one of
our longtime partners, that they are planning to stop performing wire transfers to and from
all Bitcoin exchanges, including Mt. Gox.

Bitcoin processing temporarily suspended

http://www.coindesk.com/okpay-suspends-bitcoin-processing/

 

Bitcoin processing temporarily suspended
5/27/2013
Dear customers, we are currently suspending bitcoin processing.

https://www.okpay.com/en/company/news/bitcoin-okpay-terms-of-use.html

or is this normal for bitstamp?..

FUD is what placed Hitler into power.

Let me be pessimistic about this.
They did that just becuse they are feeling scared. Which means they know they had some fishy transactions.

Bitcoin terms of use via OKPAY
5/27/2013
During the time of bitcoin crypto-currency processing, which is a unique electronic currency of it’s kind, we had many opportunities to evaluate the characteristics and specificities of this sector of e-commerce, particularly the high risks associated with the shadow part of money circulation.

To reduce the risks and potential dangers, and in connection with anti-money laundering legislation, we decided to apply certain restrictions to bitcoin e-currency terms of use.

Any financial transactions involving exchangers and stock exchanges trading bitcoin are now prohibited. We rely on receiving payments in bitcoin in favor of verified OKPAY merchants leading a legitimate business which passed appropriate legality and AML checks.

Bitcoin withdrawals from OKPAY account also remain available to all verified users.

https://www.okpay.com/en/company/news/bitcoin-okpay-terms-of-use.html

Digital currency firms rush to adopt anti-money laundering rules

(Reuters) - These are unsettling times for digital currency businesses and the venture capitalists backing them.

On Tuesday, authorities in Spain, Costa Rica and New York arrested five people at the digital currency firm Liberty Reserve, including its founder Arthur Budovsky, and seized related bank accounts and Internet domains.

It was a further wake-up call for those involved in digital currencies, such as the most prominent, Bitcoin, that they need to comply with anti-money laundering rules or risk facing a crackdown.

They had already been put on notice - first by an April 2012 report from the U.S. Federal Bureau of Investigation that explained how Bitcoin was being used by criminals to secretly transfer money around the world, and then this March by the U.S. Treasury Department. Its anti-money laundering arm, the Financial Crimes and Enforcement Network (FinCEN) stated that digital currency firms needed to comply with the same anti-money laundering rules as other financial institutions, including monitoring customers and reporting suspicious activity to the government.

As regulators tighten the screws, businesses built around digital currencies are trying to satisfy new monitoring requirements without letting public enthusiasm for the technology-based concept slip away.

"I think the whole ecosystem is maturing very quickly and we have young companies that are just beginning to understand how to navigate the regulatory issues," said David A. Johnston, co-founder and executive director of BitAngels, a new venture which only this week announced it had raised $6.7 million to fund startups tied to Bitcoin.

Digital currency is electronic money that can be passed between individuals without the use of the traditional banking or money transfer system.

Different currencies are structured in different ways. Some, like Liberty Reserve's "LR" digital currency, use units of value that are tied to an existing hard currency, such as the U.S. dollar. By contrast, the value of Bitcoin, the best known virtual currency, fluctuates according to supply and demand.

Bitcoin, which has been embraced by a number of venture capitalists in Silicon Valley, exists through an open-source software program that any users with enough skill and computing power can access. It is not managed by a single company or government. Users can buy bitcoins through exchanges that convert real money into the virtual currency.

Liberty Reserve, which was closed last week, however, was a firm that U.S. prosecutors said created a platform that enabled criminal gangs to launder more than $6 billion.

Bitcoin's supporters cite a host of legitimate reasons for using a digital currency: It can be transferred using less infrastructure than traditional currencies, and with fewer service fees. A virtual currency could also be safer than using a regular credit card for online purchases, because it is not attached directly to any bank account.

But law enforcement officials see Bitcoin as another vehicle for criminals to anonymously transfer money.

FinCEN's statement in March set off a rush inside the community to learn about anti-money laundering rules and figure out how to comply with them. At the 2013 Bitcoin Conference in San Jose, California two weeks ago, discussion focused heavily on regulatory compliance - its intricacies and its costs.

"That was a big theme of the whole conference," said Jerry Brito, director of the technology policy program at the Mercatus Center at George Mason University. Brito said businesses exchanging Bitcoins were coming to terms with the fact that they would now need to get licensed as money transmitters in 48 U.S. states, a process requiring in-person interviews in each state, thanks to FinCEN's guidance.

"Everything I'm telling you, I've learned over the past couple of months as I'm racing to learn," said Brito, who attended the Bitcoin Conference in San Jose. "I think that's what the Bitcoin community is doing too."

Charlie Shrem, chief executive of Bitcoin transfer firm BitInstant.com, told the conference about the importance of complying with the new rules.

"You have to know your customer," he told the audience, according to a video posted on the Internet. "Whether or not you agree with the laws or not, you've got to follow them."

The FinCEN statement means companies that exchange Bitcoins for hard currency must now hire full-time compliance officers to verify the identities of users, especially those looking to transfer Bitcoins out of the digital world and back into dollars or other hard currencies. Estimates vary on how much it costs to get compliant, but licensing and registration fees alone can total in the tens of thousands of dollars, an added heavy cost for small startup businesses.

Brito said the Bitcoin community is also trying to increase its contact with law enforcement and regulators. The Bitcoin Foundation, a Bitcoin advocacy group made up of Bitcoin-related business owners and software programmers, is looking to hire a full-time lawyer based in Washington to make its case to regulators and lawmakers.

Some members of the community are declining to discuss regulation. Jon Matonis, the Bitcoin Foundation's secretary who is identified on the group's website as one of two spokesmen for press inquiries, told Reuters: "I am electing to take a brief break from commenting on issues such as this."

U.S. law enforcement officials are looking first and foremost to unmask criminals operating in cyberspace and arrest them, wherever they may be in the world, and they're looking to digital currency businesses to help.

Ed Lowery, special agent in charge of the U.S. Secret Service's criminal investigative division, said the agency is working "aggressively with our international partners" to pursue cyber crime and the companies that permit the misuse of digital currencies. He declined to comment specifically on Bitcoin.

Liberty Reserve has not been the only recent target for the authorities. The Tokyo-based firm Mt. Gox, the world's largest exchanger of U.S. dollars with Bitcoins, had two accounts held by its U.S. subsidiary seized this month by agents from the Department of Homeland Security on the grounds that it was operating a money transmitting business without a license.

Mt. Gox on Thursday announced it would require all of its users accounts to be verified before allowing them to perform any more deposits or withdrawals. Its founder declined to comment for this story.

Other companies are simply trying to avoid having to comply with U.S. rules by keeping away from the country. Following FinCEN's statement, two digital currency firms structured similarly to Liberty Reserve - Russia-based WebMoney and Panama-based Perfect Money - restricted access to their services from inside the United States.

Vyacheslav Andryushchenko, a spokesman for WebMoney in Russia, said each of the company's 20 million users had to agree to prohibitions against money laundering and illegal trade when signing up for an account. Users who violate the rules are cut off, and all actions inside WebMoney's system are recorded, the spokesman said. A user is blocked if there are any suspicions of anything illegal. In addition, the less personal information the user provides, the fewer services are available to him or her, the spokesman said.

Several messages on the listed number on Perfect Money's website were not returned. The company's address is an empty suite in an office block on the northwestern side of Panama City. A secretary in a neighboring office said she had never seen anyone go in or out.

(Reporting by Emily Flitter in New York and Brett Wolf in St. Louis; Additional reporting by Maria Kiselyova in Moscow and Lomi Kriel in Panama City; Editing by Martin Howell and Richard Chang)

I have a Ripple account. Does that count?

Wait, what? 6000 XRP per BTC, and I got 20k for free, that means they're worth 3.3 BTC now or about 400 bucks? LOL... where's the best place to sell em?

Hmm, I have to install the ripple client? I only find source code on their website...   I don't use bitstamp no, at least not yet  

Earlier this morning, about 4 million was dumped within 30 minutes, right? According to Bitcoinity, it would only take a 12.5 million dump on gox to slide all the way down to $20. Am I reading this chart correct?

I realize 12.5 mil is not likely to be dumped all at once. But still... $20 doesn't seem that far away.

Statement Regarding Technocash Transfers
TOKYO - JAPAN - June 4th, 2013

After some deliberation and discussion with Technocash, an Australian service for Mt. Gox customer account funding and withdrawals, it has been decided that our customers in Australia will no longer be able to deposit and withdraw funds in AUD using Technocash starting June 15th, 2013.

We are working on alternatives for our Australian customers, but in the meantime please use other available methods such as international wire transfers, which are available in your customer accounts. Withdrawals via Technocash will be processed as long as we possibly can, and we will make our best effort to keep this method available.  We apologize for any inconvenience this may cause, and look forward to evolving with the vibrant Australian market.

Regards
Mt.Gox Co. Ltd Team.

Does gox have alt domains?
Still .com?

The latest wave of seizures was actually announced in the LR warrant a while ago, so they are no surprise.  

Panic! Bitstamp price is 0.00!!

Quoted.


Someone has to.

Interesting ... this is the first time in a few days that that a 'sell-off' below 120 has stayed there for more than a few seconds ...

Where is the  'Invisible Hand' ??

... I'm waiting for at least a little bullish reaction.

Bulls? Where are you?

...

Following the pattern 1:1?

I'm panic buying at 111 like everyone else....

Burning people with BTC seems indeed more effective than simply banning it.

if you want people to run away from BTC you need to really skyrocket it to the moon to then crush it to the closest to 0 as possible. That wont cost hundreds of millions, that will cost billions ATM, and every year that passes this kind of attack gets more and more expensive.

A crash from $266 to 50 is nothing (1/5). A crash from $32 to $2 is nothing (1/16). That's volatility.

A 1/10,000 crash... Well, thats something. That's "a ponzi" that hugely rewards the first in and first out and leave holding the bag everyone else. But still, money it's not infinite even if it seems to be, the burning has to stop at some point... BTC market will always be manipulated as all the markets are, including and especially the commodities ones (prominently gold and silver), but the more BTC grows, the more expensive it becomes to effectively control it. So, this may be an obvious attack to BTC (manipulation), but an expensive one that has an uncertain outcome. I'm also convinced that BTC would survive.

Logic dictates that it is an experiment which has already been done, in house by financial institutions. A public study? google fu to the rescue.

Herd behavior in trading. http://smu.edu.sg/perspectives/2012/06/26/herd-behaviour-financial-markets-do-traders-follow-crowd-or-do-their-own-thing#.UboO1eeBlFs

Does anyone have a link to a site where I can see how many bitcoins were bought/sold in the past few hours? I remember seeing a screen shot to one. Thanks in advance.

Contrary to my previous pledge to buy at $50, I'll wait for the price to drop to $6.14

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

wtf happened to the 5K wall at 100?

Our perma-bull is feeling bearish. I feel odd, like a terror has gripped my very bones. Sold 20% of all bitcoins, heres hoping I can short.

MtGox can do wire transfer to anywhere in the world including US

Why were you placed in this mental institution? Did you volunteer or were you forced?

It's not the same at all. Not even remotely comparable.

Weather forecasting is running mathematical models through a simulator, looking for convergent outcomes, and assigning probabilities to them. It is mathematics based on science. It is not always accurate -- because that is the nature of probability; and the models can always be improved. The beef you have with weather forecasts may also be more to do with how they are presented rather than the forecast anyway. "48% chance of rain" is much more useful than a picture of rainclouds over your city.

On the other hand, technical analysis is based on the assumption that markets are predictable in behaviour due to regular patterns in aggregate human emotion. TAs will tell you that they are modelling market emotion. However they are not -- you will never see any such model presented. Rather they are using patterns in historical price and volume to predict future price and volume. Usually based on premises (such as Eliott Wave) that are 100 years old.

You will see lots of fancy indicators -- however they are all based on the same raw data: historical trades (There is no other data available). They are not even remotely modelling the underlying users and markets at play. You almost never see any TA that attempts to model the reasons for rises and falls. They treat price falls due to bad news, technical glitches, and manipulation equally, assuming that the average market participant knows nothing of the underlying causes too. This may have been (somewhat) useful for Wall St. a century ago, but to an Internet currency in 2013? Really?

EDIT: I will try to explain you visually the example. In the chart you posted, the bid sum and ask sum crossed for a moment at the beginning of June, and nowadays are very far away one from each other. Now look at the 15 days timeframe, they are crossing each other consistently for the last days. Thus, the fact they intersect or not depends on how they are charted, it will depend on their relative values on an arbitrary timeframe, and therefore is 100% meaningless.

today it seems like a remote possibility

The handle is on the wrong side.

I see no handles, only a movement downwards approaching.

You need to factor that rpietila sold low and bought high earlier today, that has to mean something

[Update/News] Why we have been slow and taking longer than usual to process orders. Hint, banks don't like Bitcoins.

[Update 3: Chase says "Your account will be reviewed to decide whether the source of deposits(exchanges) is legitimate and we will decide within 30 days if we will be returning any or all of your money" - quote from actual Chase employee. So because we have money coming in from Bitcoin Exchanges, we are now a criminal and have had all our money seized...]
[Update 2: We will be shutting down temporarily and not processing orders. Your order will be placed ASAP when we gain access to one of our accounts, or open an new one.]
[Update 1: Chase has also decided they needed to close my personal accounts and our main account as well and now all money is frozen and can take up to 30 days to get back. This means that we cannot even pay our credit bills with the money being deposited from Exchanges.]
There are a couple important things I must get to here, but I am also not going to be posting a wall of text, so I will keep it short and sweet.
Chase bank and another bank, have both decided that we as a Bitcoin based business are "Too High Risk" of clients, and have frozen/shut down our accounts. We were NOT given notice, and we were simply told "your funds will be sent to you by check within 10 days". This is not something we were ever warned about, given notice of, or even received the courtesy of a phone call from the bank beforehand.
The actions taken by the banks make zero sense because:

• We spend a lot of money on their credit cards, which is how they make money.
• We made multiple payments monthly, and always exceeded our owed amount and had "credit" on our credit cards.

We were the ideal customers, not in any way "High Risk" customers.
Due to this, we cannot for the time being, place international orders, as there is a hefty fee for those orders via the credit card companies and both cards we used which did not have those fees were shut down.
This does not effect any orders, they are still being placed with other accounts and will all be processed.
I apologize to anyone whose order has been delayed at all because of this situation. We are doing our best to fight through this, and to figure out a way to keep our legitimate business from being wiped out simply because banks don't like Bitcoins.
I will update this if and when we get more information.
Thanks,
Justin W.

According to Moody, there are bids totaling more than $50 million in the $0 - $2.50 range.

It isn't difficult to manipulate the total bid sum. All you need to do is place lots of bids far below where you expect sales.

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.

can someone please link a press release about this?

my god this is bullish

related?

http://www.news.com.au/business/breaking-news/illegal-transfers-cost-japanese-bank-270m/story-e6frfkur-1226667178603?from=public_rss

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.

Hello everybody, just got back from work.

Ehm ... again BuyGox.com vs. BitDump.net?
Ok i'll have a beer.

Where do you trade these? And is this graph from there?

I'm a former gox user and now a bitstamp user. To be honest- I trade on Bitstamp because I'm not interested in the drama at Gox and I'm not interested in squeezing every last satoshi of profit out of every price swing. I have a feeling a large number of Bitstamp users feel the same. We will buy and sell when the price suits our interests, but the low volume is just fine. While Gox is $6 above stamp, it feels ephemeral- I'm more convinced it's someone manipulating the market into people raising their buy orders, just to dump on them big time. It's like a cycle. I'm more then happy to sit at $6 below in exchange for a calmer market.

LOL!!!

Long squeeze! 

https://www.bitfinex.com/pages/public_log

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. 

Sure.
Go into the margin section.
There you can see the remaining available long/short position.

Compare it to what it was 1-2 days ago and you can have a pretty good idea of the positions taken.

Of course there's always the possibility of people just leaving the exchange.

and BTCe at 106.7.

I think that people are using bitstamp for exodus and not using other exchanges. Maybe because bitstamp is the most liquid of the rest exchanges.

Of course! Buy at 113 and sell at 99! They are geniuses))

http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html


So... who's the market price now? 

Shopify is adding bitcoin support "soon," says Shopify

Hey *******! Christian here from the Guru team. Glad to help you out….
I have no specific timeline for you other than "soon". We're testing it right now and I've added your email address to the list of people to be notified when it's live.
I hope that helps! If there's anything else I can do for you, please just hit reply!
Christian G., Shopify Guru <his-first-name>@shopify.com

Which is the best alternative to Mt. Gox? Campbx? Reviews?

Hey XX!

Thanks for writing.

At this time I don't have any more information regarding the integration, other than if it moves forward I'll be happy to let you know.

take care,

Christian G., Shopify Guru
<whydopeoplecensorthis?mailharvesting?>@shopify.com

did that have something to do with ASIC's?

By the way, MtGox already has working API for LTC/USD:
http://data.mtgox.com/api/1/LTCUSD/ticker
http://data.mtgox.com/api/1/LTCUSD/depth/fetch
http://data.mtgox.com/api/1/LTCUSD/trades/fetch

FYI: those tickers exist since ages ago. And MtGox has an api for other scam coins apart from LTC. It's a pretty pointless fact, as they already had that ticker 6 months ago.

0 and a lawsuit are my worst worst worst cases. 
I like your worst case instead. 
Sell me some insurance?

I have been watching the charts consistently throughout the day for a few days now, observing the ask walls. Its fairly obvious that someone is keeping the price low and buying cheap coins through placing bids lower than their ask walls. They are hoarding cheap coins by getting people to sell into their bids and buying coins lower than their ask walls. They are pretty blatant about it, even placing the walls at $1 intervals.

If they decide they have reached their desired amount of coins and then lift their ask walls, bitcoin will rise, which is what they want after buying lots of cheap bitcoins.

Whomever is doing this is pretty clever as they are also doing a couple of other things to stunt the price. If you think the price is going to drop, it will not. The ask walls are keeping the price low.

Group members will use either free version of Multicharts or free version of Ninja (as soon as these platforms support BTC) - I am using these platforms in my futures and forex trading. I am talking to both developers of these platforms to start support BTC.

you can easily see the price is being manipulated right now...check order books on the highest volume exchanges.

Unless you really believe people are hording Bitcoins for the day that you can use it to buy anything in the world like you can fiat.

There's very little reason right now for _anyone_ to buy a Bitcoin in exchange for fiat unless they are buying for the exclusive purpose of selling them back for extra fiat in the future.

Bitcoin is not a fully functional, usable currency at the present time. The reason is simply because you cannot buy very many things with it right now, and of the things you can buy, almost none of them can't _also_ be bought by fiat.

One single 51% attack, one hard fork, or one more huge speculative bubble that costs newcomers their shirts can/will severely damage or destroy Bitcoin's long-term prospects.

Die vielen Monate der Vorbereitung scheinen sich gelohnt zu haben... Denn: wir durften endlich den Vertrag mit unserem Bank-Partner unterschreiben! :-) Voraussichtlich am Mittwoch Nachmittag dürfen wir erzählen wer unser Bankpartner werden wird. Erfreuliche Neuigkeiten: es wird nun wohl doch KEINE Handelspause für unsere ausländischen Kunden geben. Weitere Infos zur Kooperation kommen am Mittwoch im Laufe des Tages!

Coins in the ask wall going down ,are thay going lower or buy ?

Price is falling. Thinking of moving my bids up from $60 to $80.

Yes, it was me. Do you know when people can start using the bank? I haven't seen that anywhere. I imagine this will affect Bitstamp (depending on the interface) as the banking system, as bad as it is, is pretty sound in Germany and I think many people using Bitstamp, have the Slovanian bank they use in the back of their minds.

Sehr geehrter Herr dexX7,

vielen Dank für Ihre E-Mail und Ihren Vorschlag.

Wir beobachten das Phänomen Bitcoin sehr interessiert. Zum aktuellen Zeitpunkt evaluieren wir, inwieweit eine Aufnahme in das Angebot erfolgen könnte.  Es ist also nicht ausgeschlossen, dass es  irgendwann Bitcoins bei Fidor geben könnte. Wir sind dran...

Dear Mr. dexX7,

thanks for your email and your suggestion.

We are watching the phenomena Bitcoin with much interest. At the moment we evaluate how an integration into our product portfolio could be done. It is therefore not ruled out that there will be Bitcoins at Fidor someday. We are on it...

Yes... not very a big deal is it?  

I really appreciate when others do this. It makes it more readable for everyone.

OK. 1/2way there.

No more Bitcoins for sale?!

30k BTC to $120 or $70 (now $100). Pick your side, 3-5 days.

1k up or down doesn't matter, the point is that matters. You shouldn't think like that... 50%+ of that money on lower bids surely won't buy at those or higher prices.

Shitty selection of indicators ... You should not use other tools than volume and proprietary indys

bastards

This is messed up really good.

also this :
About Kipochi: The founders of Kipochi are veterans in providing billing platforms worldwide.

Kipochi is privately owned and has offices in amongst other places Kenya and Nicaragua.

hmm do you have a link? if thats true then this kipochi company might be fraudulent as well...

Well yes, it has but it still appears we haven't broken (closed above) the downtrend.

It's called false breakout. It seems the bears got what the bulls where so desperately hoping for 2 weeks ago.

A valid point. But what about:
the downtrend line not being violated.
the back to back candle reversal patterns?

I'm not saying I know, but it certainly is interesting...

I noticed they are doing exactly the opposite people here think. Nobody was expecting that rise in the price last week. Now everybody expecting a dump but it wont happen. When you start to feel comfortably and buy back at $140 then they will dump.

A friendly reminder from a 2011 survivor.

What is this? A chart for ants?

To be paid in BTC, but maybe the buyer/s are using Dollars to buy BTC to pay? or you are 100% sure the buyer/s already had 135,000 Bitcoins in their pockets before signing the payout....? since we dont know who the buyer/s is/are - you can't know that.. furtheremore that anouncement of "batches" sounds to me like money will be coming from fiat to BTC

Hey! That's my avatar!

sidenote: lol @ pathetic depth on bitstamp. This is the competition to Gox? lolol. It's sole purpose is clearly to cash out. not good sign of a healthy competitor.

When I called back Mike was very nice. He stated that I have sold a lot of Bitcoin on eBay and wanted to know my experience with it and was it positive.

(...)

He mentioned that they were considering policy changes to allow it to be sold but he stated that "we can't ask our user to register with Fincen" I agreed its too costly.

Michael Carson's duties at Ebay (taken from his Linkedin profile):


Sweet