t
what is bringing gox up? could it not be gox pulling stamp with it back in to the hot tub

one should worry if it doesn't pass 1100 by tomorrow, support would become resistance and the tide may turn. i'm 50/50

I was just talking with an employee at Bitstamp and he told me they had a broadcast delay, and everything should be working now, I can try send some BTC my self and report back, but BTW why didnt you open a ticket and if you did what kind of answer you got ?

The problem is - the majority of us here are full fiat.

Look at Adam's vote?

If we all think it's worth a mint, we are just sitting on it and only buying the dips.  The consensus here is 'hold' that is all.

So who will take it higher - we aren't buying it up to 1500 10,000 (fill your own price in), we want everyone else to come in and do it!

Going up requires BUYERS.  They come from wider adoption, better utility and yep, good news.   Other than that we can't do much to make it happen, we are drawing charts we want other people to follow.

Ironic, no?  (and I speak as a bull)

Er - last time I looked, at the top of this and all pages here on this thread - take a vote?

It didn't hold last time. Gox suspended the trading with its crappy servers. It was artificially "held".

What defines whether a pennant is bullish or bearish? The previous trend?

Regardless, TA is just one of many factors to consider.

in China, is it sunday- or monday morning now?

TA foresaw this crash. It was a clear double top. And until we break through the neck, TA will tell us that this recovery is a bull-trap.

Well, if you missed 1200, sold at 900 and bought at 550, then you are doing ok. However, the statement above holds in 99% of cases.

Now, I bought on Bitstamp at 890, should I sell now at 860, to re-buy back at 800?  

Have any of you seen this bloomberg report?
http://www.bloomberg.com/video/12-days-of-bitcoin-struggling-to-buy-one-6gju__9xTpi5qyI_~aQy9A.html

Maybe I am just too much of a technical computer person, but I am speechless at the incompetence, and inability to grasp the basic bitcoin concept by "top minds". Watching some of these "experts" dismiss bitcoin without understanding any of the basic principles, makes my brain scream BUY BUY BUY....  No wonder it keeps growing exponentially despite important people, people with clout, saying it is a fad or malarcky, the financial "experts" saying this are absolutely incompetent, too set in their ways or too old to understand basic principles of cryptology, and even the long forgot basics of simple exchange.

No wonder it keeps growing while people shake their heads in disbelief and refusal, people are dumber than I realized, (or more stuck in their ways.) Bitcoin is going to sneak up on all of them.

only 200 BTC takes us to $265 on Stamp.

Just came back from evening stroll and panic bought with my last 90k usd. Now I'm in the same btc position as before this "crash"... I think that wall from stamp $1000 is going to vanish when we come closer to it. Did $950 wall at stamp get pulled or eaten?

Turns out it is due to a Max Keiser tweet. He is likely the whale playing us all.

I've been reading for a while, but quite frankly, have been too intimidated by you big guns to post before. So thanks for the welcome - it is nice of you .

I think my Dad is in a pretty good situation - he has his 3000+ BTC which I know he would be tempted to cash out to get a nice tidy fiat sum. (Despite being a bitcoin believer, I think the lure of instantaneous gains is pretty strong.) But he physically can't touch it for another 8 years - it's all in his super account. I suspect he will be very thankful that the decision was out of this hands when the time comes to access it.

The best equivalent I can think of is the 401k, but there are some differences. It is basically your retirement fund - can't touch it until you meet the minimum age.

would you mind explaining how your dad has BTC locked up in an account he can't touch for 8 years?  I've never heard of anything like that.
And if it's true, then doesn't it mean he doesn't actually hold the BTC?  Like holding the derivative of gold, it's nowhere near the same thing as holding physical.
And furthermore, no one knows what will happen in 8 years, in the next 7 years BTC could go to $100,000 per coin, but in the 8th year a newer version with an improvement could come out and over 6 months everyone moves into the newer coin, but your dad is stuck holding the older coin. Or any other of a million possible scenarios that could play out in 8 years.  I would never want to have my coins locked up for 8 years.
So anyway, can you explain this setup he is in??
Thanks!  Please give specifics, not just say "it's like an IRA"
I didn't even think any companies existed yet that were doing this.

I'm really sorry to tell you that, but your work, as fine as it may be, is probably useless.

Going into bitcoin to earn money is just gambling.

What if...
Amazon accepts bitcoins as a payment tomorrow?
A major flaw is discovered in ECDSA ?
Switzerland banks decide to allow bitcoin denominated accounts?
Gavin turns out being a NSA sub-contractor ?

You're considering bitcoin just as another company share, when it's a solid - in some aspects (for now) yet also fragile - in some aspects (for now) new way of life. New way to trade. New way to vote. New way to trust.

Bitcoin is a great idea that made it to reality.
Bitcoin will have a future, whether through evolving and dodging the traps, or through death and rebirth.
The concept has now reached the critical mass, and won't ever be discarded until it is fully adopted or a better idea comes up.

Bitcoin. is. no. fucking. stock.

If I'm not mistaken, they are located in Slovenia, not the UK.

The owner is this dude, apparently: http://www.linkedin.com/pub/nejc-kodri%C4%8D/47/227/299

When Will price go to 600-700usd.

By the way where is the press hype about the Lambo purchase. I thought you guys were going to make a big deal about it.

this is something that I can't wrap my head around. Isn't it enough that your bitcoins gain thousands of percent per year? I have few bitcoins and I'm happy with that, they will be worth a lot anyway if bitcoin will succeed. Why many of you have to have moar and moar bitcoins instead of just increase in value? When you speculate you are making volatile market and hurting bitcoin economy which is bad for all...

they have to protect us so we won't get too rich too fast. We are allowed to gain amount equal or less to inflation.

920 wall pulled on Gox. Hmmm.

Why am I not surprised not one 'bull' has taken up this more than fair bet... Bulls? More like 'CCMF' shouting cheerleaders.

*looks at the poll*

fun fact
2.2% of bitcoiners are so high off SR drugs they don't know weather or not they buy things with bitcoin.  

Lol.

Is there a new sr now? I heard the new one ranaway with the funds.

they made a movie about dpr already?? link?

Good grief. My question is if bitcoin doesn't go down today then will it go down at all short term?

I mean, these are ridicously bearish conditions, holidays, weekend, huge price run up, bearish triangles, mounting asks.

What's it going to take to tame this beast?

All of us are bearish right now very short term but the down trend is a trickle. What is going on bears? You're letting us down!!!

I see the silk road coins are still under lock and key:

https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX

If they become 'seized proceeds of crime' after conviction - do they hit the market at any point....  Silly season question, just curious

high on bitcoin? lol

I love this stability, so I am going 50/50 again for the night.

Good night, everyone.

Europe over and out.

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

Why would BTC has to rely on USA? Let me guess..... you're 'Merican?

Do you realize USA is the biggest scammer in fiat monetary system?

Oh wow.

Another retard with ad hominem argumentation.

Yes, I probably traveled more than you ever will.

I'm adding you to Ignore. Don't even bother answering.

Lot of nervous people today..

Yeah, I understand that but you shoudln't be too nervous. YOu won't lose your money, if it crashes it will come back in few weeks or months. Always did, always will.

And you can trade altcoins in the meantime and get more coins then you had while waiting another rally.

So, unless you don't have a mortgage on your house to buy Bitcoin, and you shouldn't, you should be relaxed. Bitcoin is not going anywhere

Bitcoinity's stamp ticker isn't matching anything I see on their site.

Don't panic.

http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

Look at bottom of article.

Hope till end of year gox will have about 900$ again.

No. But it is not clear what real impact it will have on the amount of investments going into the Chinese exchanges.

nope it wasn't, all third payment parties are forbidden from dealing with Bitcoin exchanges, but this is not new or maybe new to Chinese, why ?

when you use third payment processors to deposit/withdraw your funds from exchanges you actually somehow skip the regulation process, and verifying your transaction will be a bit harder than when dealing with a bank.

what are the third payment parties ? they are similar to PayPal, but the most famous are Yeepay,Alipay,Paypal....  the second part was the introduce of trading fee, exchanges are registered as companies and have to pay Taxes as well and this explain the sudden increase in fees.

it is nothing wrong with this news, Mtgox has cancelled allot of funding methods, Bitstamp doesn't support any of these methods, and it is good for regulators and doesn't mean the end of bitcoin....


give it few weeks and this will be clear and people will stop panicking, though the price make a bit longer to recover from all of this bad energy going around us, the price did rise too fast this is why this happening now, if the price went slowly up I am sure this wouldn't happen.

I think the problem with this theory is twofold:
1. Getting fiat onto BTChina is difficult.
2. Most of the o/s funds went on there via BTC to take advantage of the zero trading fee...this is no longer an incentive although it is still cheaper than Gox/Stamp but more expensive than BTCe.

I'd be interested in your thoughts re the conundrum I have.  If Chinese users will have difficulty getting their Yuan off BTChina they will need coins instead, so this should mean all the CNY on the side should be being spent on BTC, driving the price up.   I guess there is a rush to get CNY off there before implementation of the new guidelines?

chinese government has been positive about bitcoin to this day, there's no reason to believe that they wanted anything more than to take control of fiat which goes in/out, at least until proved otherwise

wow someone just bought 500 coins on stamp

What's going on with chinese exchanges? Volume dropped to nothing ...

Its 7.30 am in China.  Sleeping in?  Volume does look very light.  Lag?

he made quite enough.

Yes. If arbitrage was possible we wouldn't have such spreads, the market would immediately take care of them. Arbitrage is risk free profit, if it's possible to have it you exploit it.

And btw, I respectfully proved how rpietila was not making "arbitrage" between China and Stamp, but he deleted all my posts.

The problem is that you cannot efficiently move fiat between exchanges.

Wonder what is causing the selling.

Fear of what will happen when China wakes???

meanwhile this is an important news, that can make the price go up really fast http://www.cryptocoinsnews.com/2013/12/19/chinese-bitcoin-exchange-accepting-deposits/


deposits are back again, we need to confirm that from someone who has an account on a Chinese exchange.


edit: BTCChina and OKcoin still not accepting deposits

BTW, I am really amazed how can the price rise at this rate when Chinese can not deposit funds, and when you compare the price between USD exchanges and RMB exchanges there is at least $100 dfference, this only means that people understood the Chinese situation and they do not pay much attention anymore .....

this is the problem with Bitcoin market today, it is still so small community that people gives so many fucks about single individuals, when the community grows even more and the buy support become larger, such individuals wont effect the price that much, because when they try to dump/manipulate the market there will be tons of investors waiting for a sweet entry.... and they will get burned trying to manipulate that they will just quit doing it...

Makes sense. But it also makes sense that they would already be dumping. It's bitcoin, they can send it from one exchange to the other. Where is the dump?

so I was off by like day or 2 lol but it crossed

I think we won't test any ath till some stability from China's stance on btc is made clear

The Great Bear has awoken from his slumber

Oda, then how would you explain the fact that loaded came onto this threaded and posted "hello from china" moments before that huge 2,000 BTC wall at 2640 yaun was eaten?  I saw that with my own eyes.

i think manipulation will always exist in any market despite its size. if anything i think now it's easier to spot the manipulation and be able to use it to your advantage, i.e. when we have regulation and wall street coming in, manipulation will still exist, it will just be a lot harder for us to spot and use to our advantage.

anyway regarding what's going on right now, i think Loaded has/is buying all the cheap coins on btcchina and will dump them at gox/stamp soon enough for a fat profit - that's what i would do anyway.

I really hate the XBT nomenclature.. Where did it come from?

Chinese new year is coming up right after their cashout deadline.  Source: I am Chinese.

Question of the night:

How do you (personally) say Mt.Gox?

1. Mount Gox
2. M-t-Gox
3. Magic: The Gathering Online Exchange

I also just say "Gox," and continuing to ask how people say things we only ever read and write, how do you say DOGE? I've always just pronounced it "dog" but it could be pronounced "doggie" or even, if you will, "dodge."

tl;dr: there is no volume, it's saturday night

Greed !!!

sorry man, i didnt understood Iam noob!

is there anyway to see bitstamp  live bids/asks in this chart?

I clicked every single place huhuahuahaua

that wall at 750 in mtgox is getting ripped off by buys


edit: and it totally got ripped off hahahaha

as someone already has sad, you have the total bid sum on all orderbooks (?). I have the bid sum on mtgox only.

the sum ask is decreasing. we were in 31+k btc  before the rally started, we are now at 26+k btc. that's on mtgox.

Huobi's CEO in a few days from now:

what makes you think you are richer ? do you know me ? or just because I don't brag about it and you have to tell that you are rich every second post of yours makes you think so ? GTFO

windjc, to come back to this topic:
As a result of you talking about the interest rates on Bitfinex, I created an account to find out how it works.
I only see loans at about 0.15%/day, though - which doesn't add up to a yearly >400% interest. Am I missing something? Could you enlighten me?

Let's say I can get a daily interest rate of 0.15%:
1.0015^365=1.73 (73% interest)

If Rpietila is bear-mood, the bulls should panic and sell their coins as fast as possible. It is horrifying how accurate are his predictions. He is here making some serious money and knows how to do it.
Our job is to listen his advice, follow his paths and also become as rich as he is.  

Why not sell while you still get quite decent amount of dollars per coin.  

Rpietila seems a reputable in his views.
I think we all should read his writings, learn him, try to figure out his mood and based on this, sell or buy coins.
The price will go quite low if we can trust him - usually we can. He made his bearish call correctly last time while all were laughing at his face, spitting on him and considering him as slain of God, the man of sorrows, the friend of pains etc.

After all, he made his trades and tons of money. Now those of you who do not follow his paths right now will loose as the price eventually crashes.
He is making money so why shouldn't I do it with him? I hope you guys here are also in the same boat with me. It is not that difficult to turn from bull to bear. I did it after I found Rpietila did it also.  

We are nowhere close to mass adoption, not by a long shot. I just spent dinner with my extended family where there were five middle aged wealthy men attending (not overly wealthy, just have nice jobs, equity in their homes,  investments, et cetera). Not a single one of them knew anything more than Bitcoin by name. NONE of them were interested at all in investing in Bitcoin, too risky, too strange, to difficult to even understand for them.

I spent 15 minutes discussing Bitcoin with the most open minded of the bunch. He wanted to know what he would do to even buy a single coin. Holy crap, what method was I going to suggest to this guy who can barely get Skype to work correctly. I chose a paper wallet and Local Bitcoins. He thought it was reasonable, however, i could tell by the look in his eyes there was no way in Hell he was going to invest a single dollar any time soon.

The masses ARE NOT early adopters, they will not do research, take a chance, learn about digital wallets, trust some web site exchange or anything of the sort. If it isn't offered by their broker, or banker, or something they can buy at the local Gold dealer, then they are not interested. BITCOIN right now seems a world away from this mass adoption. A WORLD AWAY.

We are still in speculative, niche phase that has a long way to go to play out. It is the biggest reason Bitcoin can fail because if another Crypto steps in and solves these access problems look out. Guys like those in my family DO NOT care about the virtues of Bitcoin's distributed, non-regulated, anti-govt protocol. They will invest in the first thing that is 1) accessible 2) available to them through standard channels 3) endorsed by things they trust: banks, govts, large companies.

That said the price may go to $2000 in the next month , or $200....

RP what I don't get is if you truly truly believe your log charts of 12x growth every year then why even trade? You are risking tens of millions of dollars in order to make a few more tens of millions. Isn't there something more worthwhile of your time. Like maybe starting a foundation or something?

IMO bitcoin has a way of pricing thing in before hand instead of waiting.

Then it's official. Just do it. By next summer I probably will be able to cover all your expenses

Stolen BTC never went into selloff, if I remember correctly.

im in the same boat lol

i have digits in the 5 digit range coming in next week. not sure if i should buy in at 900-1100 range by then or wait til february or the next crash.

i originally intended to add more to my stash when the price was 700 when i made my transfer. then it grew to 800, 900 and now close to 1000 and my funds still aren't in.

fml.

So the Stamp/ btc-e  holiday deposits will arrive today, starting in a couple of hours.

Gox won't have any new ones today because it's a holiday, what about tomorrow?

They could sell all his coins, then if he is found not guilty (slim chance) they could buy back all the coins for way way cheaper than they sold and keep the rest of the cash lol

"In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks."

"The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said"

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

Wait where did the author get this information that the FBI is planning to sell the coins and how does the author know the personal opinion of the FBI?

The word "faith" is the giveaway.  "Faith" in a seized asset has no relevance in a criminal court case such as this:  "Your honour, the Defence Department does not have 'faith' in the market for Picasso's art work and wishes to liquidate the painting recently seized by Mr. BigMobbDude.  You honour, we must act fast, or the bottom may drop out of the market!"

The words "dealing with volatility" is another giveaway: the coins are just sitting in a bitcoin address--there is nothing to "deal with."

Does anybody really think the FBI can sell all of their coins at an auction? Yea right. And the big money probably won't be interested when it learns WHY the FBI has lost faith in bitcoins. They will be forced to sell on an exchange.

Does he have a source? I don't know much about Loaded, he is a super big whale right?

Well other exchanges got their business account blacklisted by banks? So why wouldn't this happen to huobi also?

I am Brazilian. I will spare you the history of Brazilian inflation, suffices to say that the currency was devaluated by a factor of 2.75 quintillion (2.75 x 10¹⁸) in my lifetime. So I do know something about the world of "fiat". 


Yes, IF I knew at the time that bitcoins were going to appreciate that way, I would certainly have bought them.  Ditto for gold or Apple stock. But with my luck I would probably have invested in Enron or the Madoff fund instead...

But right now Bitcoin does not look like such a good investment, does it?   It may be a gold mine for day traders, but to prosper one must be smarter and quicker than all the other smart guys, which I am not. 

Actually, I think most of the people trading bitcoin believe that if it continues on its trajectory of adoption, it will be worth 6 figures in the next handful of years. The Winkelvoss twins and many others in the VC community have put the small bull cap of $400,000 per bitcoin.

So, $850 would be a real bargain actually.

Since the market price is now largely determined by the combined expectations of all traders, with no clear "base value", is hard to predict which way it will go.  My feeling is that it will not rise much above its all-time high of ~1200 USD.

But of course it is just a feeling, although I believe it is justified by what I understand of economy and politics.

I dont know why noone is talking about this: http://techcitynews.com/2014/01/13/etoro-launches-bitcoin-trade/

Its a really big deal. Maybe people are somewhat numb after the Fortress announcement or something, but that is in the future. This is right now.

I believe bitcoin is money of course, a currency if it is heavily used. But you can also view it as an asset, like stocks, bonds, real estate and so on. It is just different views. I happen to think that the money view is the correct one in the long run, but it can be viewed as an asset. If it is an asset, it is somewhere you invest, instead of saving in dollars. Just like investing in a bond, a house, a stock or even in a bank account. Appearantly the asset view is also rampant with new users and the potential investors from wall street.

Viewed as an asset class, the speculative view is different. You have some fiat, or some other asset that can be liquidated to fiat, and consider investing it in bitcoin. Your goal is to enter at a low price, then for a high price sell out to the safety of fiat or some other traditional asset.

The point with all this is, that to the degree that a number of people view it thusly, it will be affected by the central banks actions just like stocks. That is, bitcoin can go down if the investing public believes that the money fountain will be turned off.

What do you think?

The red line (Y) is Bitstamp's hourly closing price from 2014-01-05 to 2014-01-13.

The blue line (X) is generated by starting with

  X(0) = 840
  Z(0) = log_10(X(0)),

then, for i = 1,2,...

  Z(i) = Z(i-1) + 0.058*RND(),
  X(i)  = 10^Z(i)

where RND() is a random number with normal distribution, mean 0 and standard deviation 1.

In simple words, the simulated price X(i) increases or decreases at each step by a random percentage, without regard for the past history.

I had to try twice, with different random generator's seeds; on my first attempt the simulated price dropped too low at one point, it would have been a dead giveaway.

It's called a jump-diffusion.  Essentially all exchange-traded investments are modeled pretty well as jump-diffusions.  It is difficult but not impossible to discriminate the signal from the noise at finer scales.  Self-similarity argues that it is also difficult to discriminate the signal from the noise on larger scales; however, comparing BTC since 2011 to a log-normal process over the same number of points would not be remotely confusing.  The jumps have structure, but it is most not endogenous structure, so they are not markovian.

"I wouldn't even "invest" a penny in this monopoly money. The loonie is loosing value thru inflation? So what? Wages are constantly rising and there are plenty of saving options out there that give rates equal or superior to inflation. If you look closer to the purchasing power parity over the years, it increases instead of decreasing because of the economic growth (in 1980 a computer would cost you about the same as a car, nowaday you can find computers for a week's wage). Economic growth is maximized with a little bit of inflation because inflation discourages hoarding which is lethal to an economy; which Bitcoin promotes high and low. Bitcoin is what happens when IT people and programmers act like they always have been experienced financial advisers and economists. Wall Street is gonna come in, pump this already inflated dream and scam the good people Bitcoin's supposed to protect."

Hahaha, I'm in tears..

Well, he's right about the last part, time to ride the train!

People have been calling that the Willy bot. He has been buying 15-17 bitcoins every seven to ten minutes since Christmas, turned off a couple times. Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything.

Goxbuxs is ponzi money for all we know. They can print as much as they want.


Edit. For all we know mark is buying real btc on gox with fake usd and selling on stamp for real usd.

He would not care about the spreed.

http://www.youtube.com/watch?v=UP1YsMlrfF0

that should stop some of the FUD....

Winklevoss twins invested a lot in BitInstant, suckers

Been trading BTC sense 2011. Bought of silk road once or twice. Dont see the correlation. People see a trusted bitcoin site/committee member arrested along with Russia fud. they get scarred. And dump. I believe in bitcoin understand prices will return. My point only is that their is going to be a rapid sell off soon, and I dont see how anyone can think not.

Ever heard of the word "timezones"?

What's the word on the New York Hearings tomorrow? Is it supposed to be bearish or bullish?

Anyone with feed of NY hearings?

It's not wrong, we just don't know where we are, or what the mean looks like.

Charlie just schooled em, If the U.S is worried join the miners and protect the system WOOO

Last panel was more interesting. Overstock and the other guys are so boring. I want to hear more about drugs and criminal activites rather that lame business reports.

Edit:

Coinbase guy looks and talks highly unlikeable.

He was there yeterday !
Moving his feet like a crazy !

Totaly look like Christian Bale in American Psycho

Fortress ETF will take WBT's place in 2014

Fortress  has done ETFs before.  They know who to bribe.  

It seems that rallies and crashes and blips and blops only occur when Huobi is active, which is only when the Chinese are awake and not having New Year's dim sum with their families.

And there are many bitcoin chart/statistics sites that do not even mention them...

They're down for maintenance if I recall it correctly.

Superbowl is in an hour.  Who's home in front of their computer?

well you're not alone.

Yeah. Slower than yesterday (possible?)
What would happen if there was a Bitcoin superbowl ad?

All cryptocoins are brothers in fate, if one fails the others will suffer too.

Pure bitcoiners may rejoice in the demise of a competitor, but people out there will wonder: if Dogecoin crashed without warning or reason, why wouldn't Bitcoin too?

It's only dawning on the Dogecoiners now that 10,000 coin block rewards in perpetuity might not be enough to secure their blockchain if the price doesn't increase 50x in the next year.

It's not just about existing users but potential users. The more difficult things are, the less new users there will be. It's going to be a little harder to indoctrinate your friend or relative into using bitcoin if you tell them that they have to get a different phone also.

even if I have to wait till Sept. 2014 for the next rally, ain't no thang

Almost 800 coins sold there on stamp. At least it's fun to see all these transactions after such a slow month

Can I get a little bounce please? Coins stuck in transit. No block in last 30 minutes. Damn you, bitcoin!

So, I have been busy with several other things the last few days. Last time I checked Gox was having technical orders that was causing people to not be able to get out bitcoin.

But that doesn't explain why the market is crashing on Gox.  I understand that sticky fiat meant inflated prices, but why the hell are people transferring back to fiat? Have fiat withdrawals opened up?

it reached 0.043 on McxNow, then dropped to my 0.007 bid, now back to 0.03

Crazy stuff, it's worth nowhere near that.

I waited to see what a trading range is. I thought it would start selling at 0000s or something tbh, it was ultimately scam launch. But Keiser and his gang took care that it starts trading at 01 for few hours and than it exploded when MCXNow added it. I've put 007 bid when it was around 02, just in case and it got partly filled just to rebounce heavily again.

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

unless the amount of coins in Stamp's dark pool is insufficient for their needs.

both btc-e and huobi, stamp is reacting to gox more for some reason

Why should I have an answer better than anyone else's? 

But since you ask:  I think any solution has to be through politics.  I am not a libertarian; I believe that getting rid of banks and governments is neither possible nor desirable, and instead we must fight to have good governments and tightly regulated banks with strictly limited powers.

People must fight in the streets if necessary to end the plutocracy (une dollar, one vote) that has dominated the world, and restore democracy (one man, one vote).  I still cannot believe that the people of Italy and Greece, for example, could let the banks appoint governments which put the banks' profits above the very life of their citizens.   

It will not be an easy fight.  Along the way, the people in every country must somehow get rid of corporate media, and wrestle control of the internet away from big corporations, which will always prefer and support plutocracy over democracy.

Is Gox down? I'm getting gateway error.

Just transfered 20k to GOX. CCMF!
Love that cheap coins everywhere.

btw:
Bitcoin is a gamble. Satoshi Dice is a gamble.
GOX has a better return rate. No pain, no gain.

Rule number 1:
Only play with money you can afford to lose!
Rule number 2:
Don't panic sell/buy like a chicken -> because of Rule #1
Rule number 3:
Enjoy trading and bitcoin.

Hmmm and how does that works?
I trust EVEN gox more than 99% of the users here. No offense. Too many kiddy scammers here.

anyone can log into bitstamp ? I am having troubles to log in, and I am reading that people cant withdraw BTC as well, is this true ? anyone having the same troubles ?

Missed this line : Update bitcoin wallet. Temporarily withdrawal is not available

Same message they used on Feb 10th for temp stop

No, they are doing this to gain more BTC.  They will control the future.  Your children will be their slaves. 

Was it you, writing


one week ago?

I'm beginning to doubt this whole thing.  Bitcoin isn't anonymous and is actually more traceable than cash, it is actually run by a secretive central core of developers instead of being decentralised, has massive security issues instead of being rock solid technology.

Actually everything I thought when I first bought in turns out to be 'not quite right'.

Anyone else feeling a little bit cheated? I want to keep the faith but wondering if there are better things I could be putting my money into (tesla for example).

I am serially  thinking about getting fiat to the gox right now

Anyone have a clue as to why they do this?

This has probably been posted but just in case:

http://theblogchain.com/2014/02/14/breaking-mark-karpeles-posts-to-say-mtgox-is-implementing-a-solution/

They are going to shut down while they implement the 'solution'

Haha, Mark Karpeles and his dessert coffee again:

http://www.youtube.com/watch?v=ob9Ak1t09Ao&t=153

there is no backdoor/coding problem at mtgox, the problem is simple, Mark keeps eating your bitcoins, it is clearly what is happening you can check your self on that video hahahahahaha

It was just funny how his second encounter with a protester matched the description of the previous Australian guy.

I would add, "medium" term as well. I'm waiting for any kind of reversal signal in the form of really clear buying pressure, but I don't see it yet. So I can easily see us trading sideways-tending-downwards for another month, maybe two. Not the end of the world, if that happens, by the way, I'm long-term bullish as always

Yes he does. Remember he reported goat to the authorities as a terrorist.

Another retard FUD troll.

IMO its obvious Billy was hinting at the fact once we finally switch to btc in everyday purchasing there will be no swapping it for dirty fiat paper. Also eliminating waiting 10 days to transfer wealth

shit hes not trolling ....

https://bitcointalk.org/index.php?topic=476614.0

Do you have 2fa activated? It asked me to do so, and after that, I can withdraw BTC





EDIT: @Dragonkiller Ok, so it's not related with 2fa, thanks for the confirmation. Anyway, if they had real problems with BTC liquidity, why deactivate just a bunch of the accounts instead of everyone?

I have 2fa and its a no no to withdrawals for me....

And there we go. Panic.

verified?

Could there have been some major hack attempt involving a bunch of accounts that they have now temporarily frozen?

I'm not from US

I really don't get it!
Why people still keep BTC @ exchanges...

The same people which laughed @ GOX users.

Bitstamp is not better than GOX. They are amateurs as well. BTC-e is even worse.

I got this email "3.201 bitcoin failed transfer"
I do not mine bitcoins.

where did you see the phishing attempts ? I was offline the whole day, did I miss anything ?

I did receive that E-mail as well, I just read the email and was like "yes nice try", so I guess that was it.

I wonder how stamp knows which accounts received that e-mail, assuming that is the withdraw suspension trigger.

maybe BTC guild provided them with the Addresses the e-mail was sent to ? if it was really BTCguild safety fuckup, I think their last move was to prevent anything from happening with contacting stamp ? I have no Idea I am just speculating ...

Perhaps they don't know which accounts are affected, but simply implemented some heavy-handed "If IP changed geolocation more than 100 miles, block withdrawal" rule.

Can anyone who had his BTC withdrawals blocked on Bitstamp comment on this possibility? Did you log in from a different location than usual?

Thanks.

Maybe the senders of the emails just went "fishing", attempting log in even if you didn't respond.

Then again, you need the account number to log in, so not sure how they would have gotten that one.

ok here is something to think about, who of you use and android ? and use the same email for google account with Bitstamp? it could be a Bitcoin related APP.... I need some co-operation here, we need to know from where they've got our emails...

all will be revealed shortly.

i strongly recommend panic selling now b4 its to late and price rebounds

Man, I just bought an Android to have a wallet, after Apple removed BChain from iOS   (but haven't received any email, and ofc, I've downloaded just two BTC Apps... I'm always fearful of this kind of malware apps)

opss sorry didnt understand the / I got it and I use the same mail. so we need to get to the source

We move on..... finally.

I guess this confirms that mtgox will never allow btc withdrawals ever again

I know that gox is goxing ( ) because of its messy wallet system, but... I don't get really how bitcoinbuilder works. I mean, could anyone summarize me how is it possible to transfer gox-coins between MtGox and that website, if BTC withdrawals are halted? Are those Goxcoins really another kind of BTC with another kind of address keys that let you to transfer those virtualBTC but not withdrawn realBTC? I though it was just a way of speaking, not a different sub-layer of coins system.

Will the price ever be $1k again on Stamp?

How long will that take? Wondering if it will be worth the wait. Why and when, or why not?

It looks like a fight to find it, but I am now fixing my buys a little lower - I can't smell the scent of optimism...

Yep, I want UP, but I don't feel it yet.   I won't mention the G-word - but if Andreas is right and it can run on for four weeks (as I have previously posted) this one will grind on for a while yet...

Under $500 in 10 minutes...

Ah of course. All that selling on Stamp is done by wolves and not by idiots panicing because Gox going down. Yeah silly me, how did i not see that.

Could be.  But hope has been in short supply, if it's true, it's pretty good news.

Limit changes at Gox is a good indicator, and the reddit stuff seems reasonably credible.

Gox remains the #1 exchange. It has recently moved from #4 back to where it belongs, crushing others on volume and great prices! I suspect the reason for the move back to #1 is that it rekindled some Bitcoin nostalgia amongst old timers. But it's always been #1 in our hearts, right?
http://bitcoincharts.com/markets/

There was another mega-ask???

This is separate from the 10k wall earlier today? WTF??

This forum has officially gone to shit.

Enjoy yourselves. I'm outta here. Not that I will be missed by many, but I wish you all the best.

You might see me again on the next upswing or if they decide to reenact newbie restrictions. Au Revoir.

Anyone else starting to suspect that the recent large sells on Stamp were by someone who knew about the statement in advance?

so what's a bad news for Charlie Shrem ? WWIII ?

I'm in full conspiracy theory mode and will try and post my full thoughts later but if anyone for one second thinks this wasn't 100% planned to drive the price down to a point where they can buy back the debts for pennies on the dollar, tank the price, shake confidence, and take over control of Gox is fooling themselves. Funny how regulation, and a brand new shinny well regulated (probably well taxed) new exchange will be by Second Market is the topic of conversation today.

Buy and hodl the big boys have just implemented a very well planned take over of Bitcoin and even though we may see more blood shed in the end those who hodl strong we be wildly rewarded.

*sorry for typos on my phone*

Hearing rumors that gox has been bought out, can't confirm.

trend reversal due to no more worries about being goxxed. But alas that doesn't seem likely

"We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."

Okay, there has been one worst case left: Bitcoin itself is broken. That would be a turning point for the business.

What are they going to regulate anyway? There isn't really much they can do. If they regulate US based exchanges, exchanges will just open elsewhere (i.e., Singapore?).

The whole discussion of regulation is a pipe-dream.

Now wondering if this is yet another scam 

    

So lets assume Gox is insolvent to some degree and eventually pays out cents on the dollar to everyone.
It is believed they have lots of fiat in their accounts.
I also assume that if they have a limited number of BTC, people holding BTC in their account will probably be paid mostly in dollars for those BTC    (What rate will they use, the closing $175... or the average of all exchanges)
A lot of this fiat will then be transferred to other exchanges and used to buy coins.
This is going to be the mother of all rallys, as 10's or 100's of millions of dollars moves to the other exchanges looking for coins.

the unnoticed loss of >700,000 BTC just beggars belief...speechless

From the source of that news story it sounds more like government from the way MK is speaking ? The fact he says they're not lost but temporarily unavailable. Also when asked about if a digital currency like bitcoin could exist he said it was hard to say there is a lot of bank and government pressure. Money laundering seizures or something similar ?

ANY news from Mark other than "someone else is taking over" is bad news. It means he's still poisoning the pond. He seems to be incapable of learning.

I missed this -- is there a link?

The cat's name is Tibane. He named the fuckin parent company after his cat!

DPR went to jail. His site was permanently shuttered. MK is still polluting the market with uncertainty.

From reading this chat log (if its authentic) I immediately come to the following conclusions:

• They did not have a cold wallet, it was one huge hot wallet, implemented by MT.
• Occasionally it lost (or failed to store correctly or deletedč) private keys of its own change outputs ('not "lost" just yet, just temporarily unavailable')
• He seems to believe the keys are still there somewhere buried deeply somewhere in his database server ('We haven't given up')

_____________________
č) This is how I imagine their wallet worked (and how it fucked up):

User initiates withdrawal:

* debit amount from user account
* generate new private key for change address and create tx
* store tx in database (indexed by txid)
* store private key in database (indexed by address, foreign_key=txid)
* push tx to network

a week later (cron job)

* for all unconfirmed tx older than 1 week:
*     credit BTC back to customer account
*     delete "invalid" tx
*         -> cascaded delete "unused" change address and its private key (ouch!)

run 2 years until wallet is dry, all supposed UTXO turn out to be STXO and all real UTXO are in nirvana already.

That scenario would be seriously bullish long term

If people are getting them and never had a gox account could it be this account ? Who got that email to the email adresss registered here? Other one I can think of is bitcoinbuilder.

Yeah. Glad people are asking the important questions, such as if the Bitcoin ban would affect Dogecoin.

Are you on his mailing list? The link to get on it seems to be down. Those who know of this news before hand will have a huge advantage

http://eepurl.com/JgGy5

The guy is an asshole and clearly wants to be effecting the markets, not helping anyone. Hyping up his release. What a loser.

Well, I am not one to predict the future, but I think that the market will react aggressively if there is any hint of the coins still being around and not lost as per the previous document and current speculation. If this is the case, that only means one thing for market prices.

Regardless of what comes out though, it will be an interesting read none-the-less.

P.S. Having listened to the interview http://letstalkbitcoin.com/e87-the-captive-and-the-mountain/#.Uw6aWoV_e_w, I trust 2bitIdiots releases.

This whole matter is far from being concluded... there is a lot of sorting that still NEEDS to be done.  I am sure that we DO NOT know the half of the financial situation of Mt. Gox and the extent to which it may be feasible to either reopen or to reimburse customers.... these details are going to be worked out in the coming weeks.. and maybe months.

Seriously, my guess is that Mt.Gox leaked a relatively small number of BTC over months due to TXID malleability and it's lame code, refunding people for BTC allegedly 'lost' in transactions which weren't actually lost at all.

Then when Mark goes to top up the hot wallet from BTC in cold storage, he discovers his second fuckup. He can't retrieve the coins in cold storage because there is a problem with the wallet/keys. Ooops.

The coins are probably there on the blockchain, stuck forever. That is why he can't even sign them to prove they are under Mt.Gox's control. They aren't.

lol  " you're a piece of shit"

&      "@Sen_JoeManchin @Rothbardian1627 that is funny because I just sent a letter recommending the banning of #Authoritarian #Senators"
     

thanks for pointing those out Dragonkiller, definitely good laughs there     

Yeaahh... but you prove my point exactly...

I have not seen anything clear at all, and certainly not from MtGox themleves...

just very weird maybe real maybe fake, take overs and crisis letters and theories, and guesses and maybe they lost x or maybe they lost XXX or maybe they did not lose X but just the keys to X , and maybe the cat has them, and maybe the illuminated ones are going to take over, but we have a strong feeling something was stolen? maybe mislaid, technically speaking I cannot quite put my finger on what may have been lost/stolen/kidnapped/spent/blown out of a zebras ass.

Back to my original point.... Some FACTS about Mt Gox would be nice.

All I have seen for days is guess work as that is all we have.

Yes, a multi sign wallet with backup on several place... It's a joke ?
Maybe a judge got all the copy because gox are in a trial ?

I take this from reddit but it's my vue too


http://www.reddit.com/r/Bitcoin/comments/1z37zw/mt_gox_has_at_least_200k_btc/

I am not so sure...

Yeah this is all very retarded, and to be honest I am not saying I would trust what comes out of his mouth, but what I am saying is the obvious, we have not actually had any news from MtGox, outright to say the one thing that we all want to know "The coins are gone" sure we have not heard the opposite either... but this is a bit like going to the Dr's and having a check up and then spending the next week living at a hypochondriacs house and frantically listing off all of the terrible things that could be wrong.... that still does not mean when you get to the Dr;s they will not turn around and tell you that you have cancer of the A hole- but it certainly does little use dreaming up Alzheimers and aids into the mix before you even get to the Dr's..

I am sure the fit has hit the fan, but I have heard every figure from a few thousand, to 750K to millions to all of the Bitcoins having been stolen...
they cannot all be true... (yeah ok all of the coins could cover a million or 750K but you get the point) then its they are being investigated, then taken over, then insolvent, then doing a bunk... then they possibly do have the coins, then they do not...

Lot of disinfos... not helped by silence from Mt Gox...

What we need is for MK to come out and say - all is lost, and this is the cause, or all is not lost, you need to wait until x.

The fact that we have not had one or the other is odd- and as little as I trust MK, I do not trust twobit not one bit.

From this we can see that the original addresses where MtGox proved they had the private keys (a few year backs) are still untouched . This probably means that Gox doesn't have direct access to them.  if the 750K is to be believed.

I doubt Mark has lost the keys, so I can believe they have been 'off limits' by order of the US government, who is investigating Silk Road.
And each time someone verifies a dodgy account, the US government checks them out.
So maybe some of the  BTC is not lost, just inaccessible (as Mark said in IRC).
But no more info from Mark because of a Gag Order.

-But some facts would be nice