Just watched that wall on Stamp get gobbled up.  Pretty incredible.

Lol I went to my bank to make a wire transfer and the cashier asked me what was the reason for the transfer. I really hesitated about mentioning anything about bitcoin.

You are joking?

Bitstamp just made an alltime high.

The beauty of bitcoin is that it is so easy to take "physical" possession of your coins.  Fractional reserve games can be dismantled very quickly when there is distrust.

If bitcoin were so closely tied to child pornography, wouldn't the Catholic church have already endorsed it by now?

wow, bears already starting the butthurt story.

where is rpietila? is he buying back his coins?

why are you scared?
did you buy at for more then you should have at more then 800?

dont be scared... if you understand what your holding there no reason not to lol at every drop.

Lol at all the doge talk in here.

MY MY MY there are a lot of coins moving around in the blockchain

HOLY SHIT!!!!!

This is a good time to sell if it you missed it the other day.  Or if you like to gamble, it might be good for another $40 rise.

you know why I bought back at a loss ?  so many people waiting for BTC to go down, so many cash waiting to buy in back, even if the price drop I think it will be at a max of $100 than the race of buying back will start and will bring us back to $800.

I just hope you didn't go all fiat otherwise you will have a bad time catching up.

Choo choo 

Yes, thats first step, then the long negative trend line at about 730-750.

Yep. This is pretty much accurate. In Cyprus they took every cent above 100,000euro creditors. I've watched a show about it; one of them was the "economic nobel prize" winner, a professor in economics who got 1,000,000 of euro as his prize and he was left with 100,000...  

1166 coin wall at $701 disappeared for a few minutes or was that just me?

Thanks for the summaries guys.  Now to decide whether to hold or sell.....

It's simply where all the Chinese volume is now but it could be fake also.

heard something fud'ish early or read it on reddit regarding btcchina getting a new funding voucher system or what not

This is exactly how I feel right now:

you know it is.



But will Bugatti take LTC?   If they do it PM me... I will buy the million dollar plus car in LTC, I will back my rep on it. (And you all know that I love that more than my blood)

Make this happen.

Agreed 100%

It doesn't help and it doesn't hurt. Fact is that Bitcoin doesn't really need help. People will use it because it's in their best interest.

Greed is good

^^ You haven't answered my question above

Time to change that poll , going below x?
Common , we're heading to the moon!!!

Anyone thinking we might hit 1000 again this year?

i dont understand why would you buy bitcoin to buy drugs everyone knows bitcoin is the best drug in the world.

omg 750 again

I can't believe it.

According to the trendline model, we should reach the ATH earliest May, and before that have a consolidation in 500 area, with possibly 1-2 dips below that. The trendline is the sum total of all news, etc. so it will most likely continue to be valid this year as it has all the previous years. SlipperySlope's logistic model has actually a less steep trendline because it is based on MtGox data only whereas I have all of it since 2009.

Due to several risks (most of it related to exchanges) I advocate keeping 50% of your (liquid) net worth in paper wallets. The rest should be mostly in fiat in this kind of condition where we are in a bear market following the bubble top, and the trendline does not allow a further uptrend just yet.

If you recall the April bubble and its aftermath, there was a high consolidation in 130 area which lasted for several weeks before the final capitulation. I don't believe we can stay at 750 and continue going up from here.

Hi Guys!

I am not putting in more $ than I am prepared to lose, but considering it is still quite a bit of money to me (though it may be peanuts to some of you guys) I want to make an informed and rational plan and not buy at an ath this time. I know that when I start looking at trade charts and the news constantly I will only behave like the herd and lose coins instead of gaining (holding) them.

I happen to like and appreciate getting ALL input possible, so I can then better make my own conclusions.

I'd much rather have 5 rpietila guys posting wrong analysis than the 5 noobs who focus on character bashing, and add no real value to the forum.

A little tip: You should really stop rating things in your live by quantity.
It doesn't matter how much you have of something, it only matters what you can do with it and if you'd be such a pro you would know that placing huge bids at stupid prices actually pull the market in their direction.

"You are not your job, you're not how much money you have in the bank. You are not the car you drive. You're not the contents of your wallet. You are not special. You're not a beautiful and unique snowflake. You're the same decaying organic matter as everything else. We're all part of the same compost heap. We're all singing, all dancing crap of the world."

"“The things you used to own, now they own you.”
― Chuck Palahniuk, Fight Club

Stamp is the real market leader, even though it doesn't lead the movements immediatelty in real time, it is the fiat entry/exit portal which eventually controls where the price balances itself at.

-Gox: Does not have liquidity, and is mostly bots.

-China: Is becoming irrelevant and is probably entirely fake right now.

-Btce: Is mostly bots, traders, and trolls and has liquidity issues also.

-STAMP: Is where all the fiat enters and exits.

It was acutally a 1000BTC buy order on Bitfinex - I saw it on the order book   1000BTC @ 720.  Half of it got filled on Bitfinex.

tringale is breaking

this is the end of bitcoin BUY BUY BUY!!!

are you sure one guy dump on all exchanges everywhere ?

MACD which is about to crossover on both the 1d and 4h timescale.

The tide is starting to turn on Google, especially with their bullshit Nazi tactics for getting people to sign up for Google plus.

Completely off topic: but outta curiosity why is it called Jewtube? I keep hearing people referring to it as that. Is it unfriendly to non-jews? My asian buddy has a big channel (330k subs) and i'm wondering if he needs a heads up.

Bitstamp/Bitfinex is crazy. People will just randomly buy or dump 1000 coins at market and absorb massive slippage when they could have saved about $20 grand if they juat spent a little more time making their trade.

All my alarms just went off.

Did someone just dump a fortune?

first dump of 2014

I love the way we've been getting some dumps like this and no panic!  

I think it shows that every Tom, Dick and Harry (and Julie) left on board knows how to ride the train. It's exhilerating being part of it!

Each of these dumps over the past couple of weeks has led in to a necessary consolidation back to the steady uptrend. Look at the charts.

Imagine if all the Chinese exchanges have to close and we go back to gox being the highest volume exchange. Then you'll be getting goxxed all the time. :p

Mark zuckerberg invested 50 Million in Bitcoin Mining !!!! is this real


this was posted on the Washington post so...


Edit: fake dont click and dont install the Java plug in

100% agree with that.  But that isn't support.  If nobody sells we don't have a market.

There is buying 10-20 coins each 5 minutes or so, and it has been going on for half a day. Seems quite regular, could be someone trying to buy in while moving the price as little as possible. Mtgox-

it broke! skys the limit! buy Buy BUY!

 

Yes, full fiat with my trading allotment. The sad thing, I thought I was being clever, having placed a number of limit orders, selling gradually on the way up, and it did look like 580 was going to be a top, but then everything went horribly wrong.

so glad I removed my sell orders on stamp that were in the 800s!

I'm not German.

no new wires at gox today, it's a holiday in japan

Do we really need theories about "where the 800 dump came from", "where the 200 dump came from", etc.? That amount of coins is nothing! It could be any one of us.

Here is a thread on it. --- > http://www.reddit.com/r/Bitcoin/comments/1uhc58/is_huobis_volume_real/

In addition, all of the transactions are supposedly going through the personal bank account of the owner to skirt the Chinese regulations on fiat exchange. If that were the real volume I don't see how that could be managed.

Well we are finally at a true crossroads.

Does anyone want to buy at these levels? How much fresh fiat is entering the markets currently?  Does anybody want to sell at these prices?

Hopefully within the next week we can know whether the initially rally will be continued or whether some people are going to try to sell us down.

I put it about 50/50%.

this: http://www.infowars.com/italian-riot-police-remove-helmets-join-anti-eu-protesters/

got that feeling that this year is going to be awsome

fkn euro.. free bitcoin!

Will someone please tell the seller on Stamp to move his wall back an inch or two? 

let me guess. you're from the UK?

How come Bitcoin is so big relatively in the Netherlands. 1% holding is that right?

Me too (well, I live here). (Amsterdam?)

Anyway, here's a cute little thread from r/europe of today. I don't think the EU is perfect, but still a far cry from EUSSR, in my opinion.

and hey, THEY invented the tulip-mania...

no they don't happen often but if you look beyond the mainstream media you'll know it's on its way.. actually it's long overdue, only the QE, low interest rates and market manipulation is keeping the economy going now, they may try keep it propped up for a while longer but it's not entirely in their hands, foreign held reserves being offloaded may trigger collapse at any time.

I suspect most the world will be looted through privatisation, bail ins etc before we switch to a new world reserve though, really we should just say this fiat ponzi scam ends here, the debt is cancelled, bankers go to jail but unfortunately our governments are pretty much owned by banks and corporations so that aint happening without a revolution.

At what point will the frequency of the word "hodl" be greater than the frequency of "hold" on the forum?   

http://blogs.reuters.com/edward-hadas/2014/01/08/an-early-obituary-for-bitcoin/ the FUD is strong with this one.

uhh.. hmm let me just buy 918,000 or so worth of btc on a Saturday morning.. if I live east coast lol

Another one bites the dust

Those guys putting in market buy orders on MtGox when the ask volume is so slim.... I feel bad for them. They don't know what they're walking into....   I was wondering what the hell is going on for a long time.

She could as well ask for banning all fiat money because dealers on the streets use it... Some people are insanely idiots. 

I never heard of an actual case where child pornography was facilitated with bitcoin, only in the minds of bad journalists and politicians do i hear these stories and its getting really annoying.

Hm.. I'm getting the Incapsula treatment on Stamp.

 

I was just checking out the Troll Box at BTC-E.  One of the trolls was saying; Stupid BTC, why won't you crash!  lol

That's a good argument for gold and silver.  I wonder how many posting here also invest in physical precious metals?

The U.S. Government stole most of the private gold held by Americans in 1933. http://en.wikipedia.org/wiki/Executive_Order_6102 The precedent was set and they could easily do it again. Good luck trying to steal bitcoins. Private keys? What private keys? I lost/destroyed/exposed/ate them. Good luck hiding gold in a brain wallet.

Ok I am taking the bait....  what happened?

Yes, i lost my PM's on a boating trip last year.

There has been a suspicious lack of Dinosaur patterns on the charts of late...

I like Dinosaurs!!!

Which reminds me of an exchange faar faaar awaaaay.... 

average of bitstamp and btce is as close as anyone could get. $801 at the time of this post.

A lot of good Americans come from Finland! America isn't really a nation in the European sense. It's just a place where people came from all over who wanted to be left alone by kings and parliaments so they could make something of themselves and provide for their families. A lot of that spirit got lost, but it's still alive out in the countryside and pockets of the cities. Please don't judge us by the actions of our government. We don't really get to choose who runs the show. It's always either bankster puppet A or bankster puppet B. Real Americans are standing alongside Good Finns, British, Chinese, Brazilians and whoever against the fucking banker oligarchy that stinks up every country on the planet. Those Occupy Wall Street hippies were just the loyal opposition. We're the ones who are gonna have to rebuild world finance when the fiat house of cards crumbles. I aim to do my part and I welcome anyone from anywhere who feels the same way.

wtf @ stamp?
710 -> 755 with a 1000 buy

or someone did market order instead of limit. Or buy instead of sell.  that would be awesome

4 hr macd, bots

I am again thinking of leaving the markets alltogether. I have never felt so much fear.  Even though I was 80% fiat I was sure the exchanges we're just going to run with the fiat. I do not want to be around when a serious protocol failure actually happens and everything comes tumbling down for real.

I had a short closed at 550 (where I had my take-profit limit to close it), my profit is still there.

They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB. The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.

Imagine this happening 6 months ago. How the price would rise.
Now everybody is like who cares. We're waiting for anything slightly negative so we can totally panic. 

Right because people want out, and where will those BTC flow? How many of those BTC will end up with a sell market orders on stamp?

What makes this spread different than when gox was trading at $950 while everyone else was at $800? I thought everyone ignored GOX already because of their large spread above everyone else. Now that the spread is below everyone else dragging the price down its a HUGE problem.

Bitstamp to resume withdrawals later today:

insider trading now on gox? pushing the price up

stamp going nuts!

Here comes the short squeeze 

Dear Mt. Gox Customers,

In order to implement our solution to the “transaction malleability” issue being
faced by bitcoin exchanges and businesses, we are going to have a 6-hour
downtime on all bitcoin deposits and internal bitcoin transfers in addition to the
current pause on bitcoin withdrawals. Trading will otherwise still be open as
usual.

Maintenance Schedule (approximate):

6pm ~ 12am JST (February 15
th
)

The above downtime period is approximate: it may be shortened or lengthened
as required. Once the implementation is complete customers will again be able
to deposit bitcoin, but we will be doing extensive testing before bitcoin
withdrawals are reactivated. We will publish an update on the situation on
Monday .

BlockChain.info have implemented changes to address the malleability issue.
Our solution should work in the short term, while a longer-term solution is being
discussed with the Bitcoin Core Dev team and the Bitcoin Foundation. We are
also discussing this with other exchanges and businesses.

Thank you for your support during the maintenance, and we will update you on
the progress shortly.

Best regards,

MtGox Team

And all the time no break in trading... only change is that Bitcoin deposits are stalled for 6 hours... and who in their right mind would deposit Bitcoin now.

If they where just a little ethical, they had to be suspended all trading until all their shit was fixed.

The Gox premium will be back in a heartbeat. However, anyone without some real stones of steel will be buying at any price to get out of the Gox trap.

nah still too high. No more than 900 for the next month or two. I don't think BTC has the tenacity to reach that 1000+ threshold.

I'll take the under, but I don't think you're crazy.

Ok so who thinks that on Monday Mt.Gox will announce that they were hacked and need additional time ? I've read their statement and in no way did they say "We have the coins guys, chill." They deserve to go down because either they don't have the coins or they try to manipulate the market to make a profit. Just WOW, such machiavellian exchange.

The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are.  The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.

I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.

These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.

These people deserve every damn thing that is coming to them. The stupidity is off the charts.

Can Gox really afford to remain silent? This is all looks shady as fuck

How come the amount of total coins for sale on Gox is still increasing?

Did Mark Kerpeles fly over to Slovenia, go to to Bitstamp and stick a flag in the ground? All Bitstamp does is follow gox now!

My point, if you read back 6 or 8 pages (which I wouldn't inflict on you), is that BTC has lousy PR, while Gox is pretty canny at spinning news in their favour.  The story should've been Gox's incompetency but instead it became a flaw with BTC.  

BTC may be the future but the infrastructure needs improving, fixing etc.  And the lessons from this week are the Bitcoin Foundation needs to improve its marketing and PR and deal with criticism head on, swiftly and aggressively.

What is happening to Gox order book? <500 coins to 240 

Expect gox wait for US wake up so i'll gues 14:00 GMT

Today is announcement day to give ETA for another announcement day. Buying time it is..

You should realize that the same can be said of fiat.  Unlike fiat, bitcoin is not designed to rob you.

it is like watching some ugly rotten pornography. prices like that just hurts the eye of any bitcoiner.  155...

The proof that this is irrational selling and panic, is that people could get 50 cents on the dollar over at bitcionbuilder. Instead they are selling for .25.

smh

Everyone does realize that if Gox is solvent they really don't care how low their price goes?

You know when the price on Gox reaches zero that they will not owe anything to anyone?

In the meantime, the amount of coins for sale on Gox is still increasing, how is that even possible? Its like people depositing btc's there to sell or something

Holy fuck people...
What's the word on Gox, no announcement?

I abandoned Gox about half a year ago, due to their constant bullshitting which I found untrustworthy, but with this price, I am actually starting to contemplate depositing some money over there, just in case they are functional after all...  

And whats wrong with simply using Gox as a cold storage wallet exactly?

I feel like an awful troll for saying this, but am I the only one who feels no sympathy for the goxers? They had forever to stop using them, why did anyone have money in there?

Ain't looking good at all, the failed transaction started early NOVEMBER, i had got 2 withdrawals stuck back then.
So that's 3 months of exploiting the Gox Automatic Giving Machine.

To the contrary, it means hundreds of thousands of coins have been stolen, which may be sold at any time on other exchanges and greatly increasing the supply and thus decreasing the price.

Would it not be possible to track the stolen coins and find out what exchange and account was used to sell them?

I do not think the people of Cyprus and the CB are friends anymore...

No prizes for what I'm calling here...

I don't get why the rest of the markets (Non-Gox) go up if there is really a remote possibility of Gox enabling withdrawals, Can you imagine the amount of bots that are ready to transfer everything from Gox to BTC-e, Stamp, etc and close the arbitrage gap? The bigger the gap is the bigger the benefit (and the crash in the rest of the markets).
IMHO you should be in fiat on the rest of the markets and wait to buy when the arbitrage starts...

If gox does fix withdrawals, there will be two groups of people on gox after this:

1. Those who panic sold at the lower prices, lost everything, are jaded, and may never come back to bitcoin again.

2. The traders who suckered the money out of group#1, are sitting on a ton of coins at MASSIVE profits, and will take their profits on bitstamp where fiat withdrawals are more reputable.

In my opinion panic sellers deserve fleecing.

If that's true it's horrible advice. Stupid lawyers trying to make a buck. Horrible advice.

I'm not sure we'll go much down from here.

I'm expecting the daily news cycle will kick in around 4 hours hence and the news of the Gox subpoenas will send us back down for a while.

I don't understand why ANY of you here would still have funds on mtgox. Mtgox has had blatant liquidity and management problems and been the running joke of this community for almost an entire  YEAR. I removed my funds in AUGUST. We had passed mtgox off as no longer relevant and a facade months and months ago and now suddenly it's a big deal again?

Marijuana largely functions via a decentralized market, yet no matter where you go, somehow the price of an ounce of pot is always very similar (depending on the potency).

If you want to ignore the comparisons, so be it.

bullisshhhhhhh

source?

he just wants to get your goxcoins cheap.

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

Hm, not sure... it would be more bullish if he said he lost keys for those coins.

we should surely go down again today?

We don't have idea when theft happened, it was surely long process and most of those coins are probably on the market for long time.

Yes - but a lot of market actors actually have less Bitcoin than they previously thought (everybody with balances at gox). All those that want to replenish their positions will exert buying pressure on the market. Or am I missing something here?

With MtGox, Bitcoinica and all the other hacks and large scale rip offs like the 'pirateat40' incident which have happened over the years I suspect about 10% of the Bitcoin currency is stolen property.

Trading in stolen property is illegal. This is good enough to outlaw exchanges in my opinion and I suspect governments around the world will use this against Bitcoin.

It will be forever tainted by this huge amount of stolen coins.

When people finally trace some of their missing coins to a US corporation I can't wait to see the lawsuits start rolling in by people wanting their coins back, especially those who lost thousands of coins.

The best thing is, we're just getting started - this will happen again and again.

It doesnt matter what happened to those 850k coins. If they were stolen, then essentially the market was being set for the last few months by an inflated (850k) money supply. If they were lost then the money supply has fallen by 850k. Either way, we will be now setting a price with a money supply that has been reduced considerably.

Can't believe that it takes bitstamp 30 seconds to put order out of queue to order book.

And some guy opened thread about HFT in the morning.

is there evidence now that the coins are STOLEN (not lost or unavailable)? - for me it makes still absolutely no sense that a company can be abused by a thief on that scale.

*This* worries me.  I have thought about it before.

ARGH fucking Gox.

Can we just move on. $3200 per BTC. K thanks, GOODBYE.

ffs.

I wonder how much of the remaining fiat will go to lawyer fees and other random BS like starbucks for Mark?

On BFX if a market sell order triggers a stop loss which gets priority?

Wtf was this on bitstamp $634 sale order, also minimum on bitstamp when order book is full.

A glitch? Last I've seen them .. it was on some Japanese trading site .. can't remember the name .. damn.

Been away for a few hours and I see this:



What happened? Bulls retaliated preemptively?

I know bitpay is a positive for the community but it is far from an ideal solution.

Twice now Ive tried to pay for things with bitcoin in the last month and both those times the bitpay invoice expired before receiving the coins. So when emailing the company your trying to pay they just say you need to get in touch with bitpay. Is this not a bit ridiculous where the purden of sorting this out falls upon the customer? Surely businesses set up with bitpay should have some sort of support system deal that allows them to speak to someone at Bitpay and not have to wait around. The situation as it is however involves emailing bitpay yourself and that takes forever just to get a reply.

Hardly ideal when your trying to buy a pizza...

Real respect to that man, I have more faith in Bitcoin than I had ever knowing that the man you see on that picture is Satoshi and reading about his life..... I am so amazed, I just hope that people will respect his privacy and leave him alone...

The price on bitcoinbuilder being 0.6 being a prime example.  Any sensible person would have known that a 40% discount in btc terms in the circumstances was wholly inadequate.

why do we hodl bitcorns ?....to fuck the next sucker over, right?

With GOLD you have at least something in your hands, no matter if it is really worth the price or not. Bitcoins are just bits, only virtual, nothing manifested. You cant hold it in your hands like money (yeah its only paper), gold, ice cream or whatever. I think most people, including me, have problems with this.

What's the business model of an exchange that charges no fees? How can they get the revenue to continue operations after the seed money runs out?

Just noticed the new volume option on bitcoinwisdom.

Is there anybody in this mighty thread who has used bitcoin for actually purchasing something with it besides FIAT ?

Fixed.

This current rally wasn't authorized by Huobi what are these guys thinking?

Why are we following a dying exchange? Why did we do that with Gox and now with Huobi? Once Huobi is gone will we start looking for another clusterfuck exchange so we can follow it?

could this be a whale starting the nxt rally or what? is there good news or something?

your saying all that buying is fake?

Why is BFX buy side of the orderbook blocked (maybe its just me)? They have always had a fully visible orderbook...

Are they allowing bots now or did some idiot do this manually?  If so, he must have wanted to hide the orderbook. Why else would he do it?

Anyone having problems logging into Bitstamp?

It gives me "wrong authentication code" for 10 times before finally accepting it.

Serious question, for a second:

Does anybody know how much of Bitfinex' volume (on average) is routed to Bitstamp?

Bitstamp's API returns total volume (i.e. their own volume + orders from Bitfinex). Bitfinex' API doesn't distinguish between orders executed "internally" and "externally" either, to my knowledge.

The result is, we can't say for sure how much of the volume on stamp on finex is a duplicate... Can anyone who trades a lot on finex shine some light on this? Maybe you know how much, approximately, is routed to stamp, so we can at least guess how much stamp's volume has to be discounted.

Jup. Comic Sans for me. Which one did you get?

It's nice to see some support building over the $600 levels.  Is it just me or do the bitcoinwisdom charts look different today?   All the numbers on the right look like they are a different font now or something...

I wonder what effect the HODL mentality will have on volume.

Splendid stuff.  .  .  the tsunami is building,  and at a fair old rate.

Only fools try to stand in the way of a tsunami.

I mean coins that were not ever mined but only existed as credits into an account at Bitstamp.

we will soon see a bitcoin breakout of the 200-300 $ range