Lag, fucking lag, when will some FOREX company enter making a really professional exchange and not this monkey circus that is mtgox?

What intrigues me is that yesterday we have triple more volume and no lag.

He said yesterday. It has been days with a TON of trading, super volume, but no lag. Now we have a little jump into the 90s and lag starts.

Americans are waking up and going "oh shit, better jump on the train before it leaves the station". 

Already said it a couple of days ago:
Gox leads in volume
Bitstamp leads in price

I have seen huge volumes on bitstamp recently, I guess ex goxxers looking for shelter.

Guys listen...


WTF!!!

Its up $10 in like 2 minutes???

How the fuck am i supposed to sleep. This is the biggest rally ever. Period.

So should i keep my 10btc sell order at 149.99 open? Its not all my coins, but still a chunk.

Well. That time we can blame gox lag for the down turn.

Lag started when it was going up ;-)

How many of you are all in right now?

I'm currently all in, and I'd like to buy more, but no fiat. I'm supplementing my BTC count with my unusual luck at SatoshiDICE, and I tend to come out with 0.15BTC every hour of betting on the 73% and 50%.

Someone just bought 1 million USD worth of BTC. And another guy sold half million USD worth of BTC. Insane.

Edit: For anyone who wasn't following the live feed: someone bought ~4K BTC at market price and then left a 3.7k bid wall at 130. Then a minute later someone just swallowed that wall in one take.

That's IMHO the real cause of the recent price uptake over 130 ... Not sure if I like disclosing such information ...

I got crushed today, $10,000s underwater. I don't think it is fun, and don't recommend shorting bitcoin.

Buy and hold.

Vladimir knows something you don't.

I think even 30% per week is unsustainable. That's why I shorted when it shot up about 20% per day. Long term I make money if I stick to this strategy.

Forgive me for my pathetic attempts to talk the price down. I am better at the opposite:

"Study the price behaviour for 7/2010-6/2011 if you want to have a million dollars."

Long term it is worth no more than $10,000 billion, and this is the most important thing to remember.

DO NOT BUY AT ANYTHING OVER $300K FOR THERE IS A REALISTIC RISK THAT IT IS A BUBBLE AND YOU LOSE.

You still have plenty of time to buy, as short-term anything over 30% per week is unsustainable.

That is 0.15% per hour, folks. Why would you buy after a 30% daily gain. I will not close my short at a profit for sure but I don't think we go to $200 today, LOL.

Looks like that was the top (for now).

Some claim that it's easier to price products such as 1.9 mBTC rather than 0.0019 BTC or 250 mBTC rather than 0.25 BTC. Also, it may be less of a psychological barrier to purchase 100 mBTC than 0.1 BTC. We can already hear complaints such as "bitcoin is too costly, I can't afford it", despite the fact that it's possible to purchase less than 1 BTC.. So if everyone starts using mBTC it may have a positive effect on the price, it doesn't sound as costly to pay $0.12 for a mBTC compared to $120 for a BTC. Just look at the alternative chains, even though they have a lot more coins, the price seems to be going up quite high regardless. E.g litecoin is about $4, but there will be 84 million coins, so essentially if we compare to bitcoin that's $4*$4, $16 at the moment, what bitcoin wasn't even worth in the beginning of this year.

Not sure if this is significant, but we broke $130 just now in BTC-E, people in the troll box are dancing and all that.

The funny thing is you have no reference that I PROMISED anything.

I put out a guess which is hardly a promise lol.

Once again fail...you're good at that aren't you? 

Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure.

LOL

I'm going to call this the "Jeff Berwick Effect."

Wow. Sell 1k2@100.
Seams the tree of early adopters still can be shaken...

Edit: And obviously needs to be!

This feels like people are throwing in the towel. Capitulation, if you will. With none of the hype and buzz having any positive effect on the prices like it used to and a growing distaste with feeling like the price is at the whims of the puppet-masters, it seems like people are ready to step away for a while and let this burn itself out.

Or that could just be me.

pigs getting slaughterd again

Please ban a few days the user ElectricMucus. I feel very disturbed by the image he posted.

Only a frustrated skunk would do that.

weak stomach?

He said "for today".

A lot of people are afraid of a slow dwindle as in 2011. So there is some hope all the weak hands are out already.

It depends on what happens next. Bitcoin/periphery running into trouble or some fiat currency breaking down. USA/EU/Japan are all printing money like there is no tomorrow. The Bitcoin conference is coming up so there is potential for good news, too.

Too frequent?

40BTC or about
so that i can sell you 200 BTC for 100$ each anytime before june.
an ok deal if you think bitcoin might go down and want to sell them if they do go down.


i'm going to have to pass i just realize i want MORE 

Make that: "For the average Joe, Bitcoin is not yet a train about to leave the station."

- But it will be. If not this month, then the next. I called a 1-3 month consolidation in 100-120 area before a supermove up. We are right there even now, 4 weeks after the bubble burst. If I panic buy at 144 meanwhile, it is my own problem.

It has plenty of time to go to sub-$100 in May. Even as of this writing, there is $500k bid volume to 102, which is so pathetic that if I show a wall of 1k coins like I did yesterday, it will crash right here and now. It takes about 45 mins to send the coins.

Is this for real?........

http://www.ebay.co.uk/itm/10k-CHNCoin-NOT-Bitcoin-Litecoin-Feathercoin-just-launched-last-week-/221224003871?pt=UK_Coins_World_RL&hash=item3381fa691f

Your question is:what makes you think the downward trend is still in place?
The dip to 102 may be the closest it gets to 95 for a good while. It was not really that far away. The market might be remembering all the times traders were left waiting on the platform for the perfect entry point when the train was whistling away down the track...

I think it's inevitable that we will see something like this happen eventually. And it will certainly cause a pretty big crash in the price. But in the end does it really matter? It will just slow the growth for a while, but ultimately bitcoin can not be stopped and continues to provide a very useful service.   And also, luckily the US isn't the entire world (yet).

I think we are quite much arriving to a tipping point. Being above $110 is bullish signal IMO, but I think we may retest $100 soon. Don't think it will be broken, I start to think we're arriving at the gates of consolidation at $100 to $130.

Yesterday I increased my position consistently at $108ish, after we tested $110 the second time. It just felt we were going to break it upwards - and if we keep staying above that level at take it as very bullish.

Wouldn't mind a visit to sub $90 for some cheap coins, but that does not feel very realistic ATM. I will just maintain the hope high, you never know in BTC

No, what I am saying is... if i can make a 3-4% profit every day - after roughly 140 days, I'd have approx. 1000 BTC. THEN I can quit work - as a 1% profit (after fees) every day would get me 10BTC per day - or (at todays prices) $1200 per day.

THAT is why I'm willing to do little trades for now, just to get to that target. - THEN I can quit my job.

I'm really enjoying the price stability the past few days.  If it continues I do think it will be quite good for bitcoin adoption.  As the market is typically extremely volitile it does make me think that there are people who are creating the stability intentionally.  If so, keep up the good work.  Do others think this as well?

You can't speculatively (profitably) long bitcoins, you can only short. So it's probably some supernode trying their capabilities (American likely), but I will be impressed only after breaching $.11. If I can do $.119->$.09752 in 3 days, surely others can do even better!  

I don't think we are stable. If we are in this trading range in a month, maybe we are stable. I don't sense confidence in these mini rallies. I'm actually holding mostly BTC at the moment, but my finger is on the trigger and I am not confident we break 120-125 resistance.

Panic time.

Dwolla isn't important, but if there's a Court Order that prevents Dwolla from interacting with Gox to US customers you can bet it will affect more than Dwolla.

Wait all. It's not Dwolla who got shut down, but MtGox in the US:

Either I am missing something or my guts are made of steel. Why are everybody acting like this minor bump in the road is so catastrophic?

doubt it, bad news plus ddoss attack should have made it free fall.

seems the most stable since jan of this year.

You overestimate the negative sentiment the masses have on financial institutions and governments.  Yes, everybody complains but most are content with what they have.  It's certainly not so drastic that people will go through the incredibly difficult processes of setting up wallets, getting money into the system, buying BTC and then finding a way to spend them, which we know are far and few between. 

Not to mention, Bitcoin is becoming a bad word associated with all things criminal much faster than it's becoming some "beacon of light" as it relates to currency.  It's highly volatile, it's clunky, difficult and confusing and it's absolutely vulnerable to far too many variables. Image is everything and Bitcoin is losing that battle.  It's attractive to diehards and high risk investors sure, but most of them have no clue what mainstream wants because they are completely out of the loop. 

Bitcoin is like Napster.  It has shown us the way but an "iTunes" is coming to do it right.  My guess is that's Ripple.  They have the advantage of being able to take the high road and separate themselves from the black market, money laundering stigmata that Bitcoin has developed, while still accepting Bitcoin as a currency.  This is good for Bitcoin and it's last gasp at mass adoption.  If the masses are more concerned with low transaction fees and ease of use, than they are having actual stores of wealth, the XRP will reign because an IOU will be sufficient. 

Was something said at BTC conference or something?  Why is all this going down right now?  LTC going to the moon as well.  Must be "fontas."

Go to the withdraw button!  

i'm starting to think we'll be making new all time highs pretty soon.

Someone is slowly offloading a lot of coins on Bitstamp at pretty reasonable prices...

If you live in the EU you can get fiat in within 24 hrs with a SEPA deposit.

Paint drying tracker...

Braindump:

When was the last time you were ready to answer the question, "So what's the price of Bitcoin then?" and could answer confidently WITHOUT checking the chart?

Currency volume is at its lowest this year.

Several days of stability with dwindling volume has happened once before this year around $48, then leading to a second wind for the spike to $200+.

Me I've been mining LTC, a little FTC. Doing real world things, perhaps this is good, been getting better quality of sleep anyway

Can Bitcoin survive another hibernation period? Should we welcome it? Am I assuming too much again and is this merely the intermission before an exciting Act III?

Look at that volume. 50 % of Gox.



I guess the next wall observer thread round will have a different title.

Wow this is HUGE big shitz, LR is a gigantic washing machine with millions transiting, many exchange business that deals with LR also do bitcoin, like Aurumxchange. Expect big Losses due to this shutdown for whole digital currency community.

Well BTC is Monopoly now , heck i'm turning ubber bull, i'm holding btc for long, to hell with short term trading.

Yes, but if you give to Gox a fake ID, then you're responsible for reliability of your personal data, not Gox.
Without verification Gox is responsible for it.

So, this is good news. Choo choo!

This is a real risk everybody trading significant amounts of fiat for BTC is exposed to - now and also in the past. If you are dealing with peanuts, you can get away with dealing with BTC anonymously. But if you are trading high 6 figures of fiat (and those guys, together with the 7 figures players are the market makers, and not the Dwolla users) you need to be ultra-verified with notarized documents in any case.

the way I see it is it's just a bunch of pussies who couldn't handle the psychological impact of a big sell... perhaps the big sell was in part timed to impact on said pussies.

that doesn't mean it's not going down, but what exactly is the reasoning behind it? Just because the indicators say x doesn't mean you should act out x.

LOL, eventually maybe.

I'm expecting it to go lower. Much lower.

Waking up to a price of $90 is not nice, what the fuck guys?



I'm losing faith over here.

Biggest disparity I have yet seen.

Bitstamp - $105.75
MtGox - $112.20

$6.45 difference, quite telling considering todays news.

I was really addressing the "manipulation" of Gox (e.g. - Todays wire news) and nothing against Bitstamp. I use them. 
What do you feel about Bitstamp using a Slovenian Bank and the recent problems there? I think they got cash from a sale and we are ok for a few months at least, if not longer.

BitPay must already have tons of USD at mtgox waiting for withdraw, i don't think they're going to add more risk...

Yes, approx. 91 and 81 are my immediate goals. I suspect there will be bounces to profit off these resistance points. I would expect to buy in again lower should the price permit.

Bought at 65.5 sold at 69.99.. Suckers are making this easy..
wished i had guts to expose more of my dear fiat.

Went all-in at $20.

Never sold, now I see it was a mistake. I could have easily doubled my holdings if I sold when I thought I should have, but I didn't just because I didn't even want to have the hassle to send coins to Gox.

There is a big difference in holding 300 or 600 coins, guys.

That might depend on the owner of the 125 wall.

Arbitrage is stupid and selfish? Arbitrage is good money, how is that stupid? You really think that is better to have +20% spreads between exchanges?

That's beyond retarded.

Relax. It's just the weekend dip.

if people are looking at mtgox price and you will arbitrage it with big amounts of btc, you will crash the price and people might panic. maybe you will earn some money but you also would earn money by just buying bitcoins cheaper and holding them while waiting for the price to rise even more which could not happend if you sell. first case is profit only for you, second case is profit for everybody holding bitcoins.

i know this for a fact, if price of bitcoin is stable and slowly rising, at my local exchange there is more and more people wanting to invest in btc, but when the price is falling, there is much more sellers than buyers which makes me think, that bigger price is better for everybody who wants bitcoin to succeed. so maybe some of you will consider this while having fun making your small profit and think about everybody.

If it's Gox news I would rather guess it's bad news.

I don't understand why the Bitcoin Foundation is being silent on this. Seriously, can't one of them just tweet "meeting good", anything? Very frustrating, and frankly insulting.

maybe they are buying those bitcoins now before they tell...

now is slightly different situation, people don't fear bubbles any more because they cant kill bitcoin and price will recover anyway. there will be volatility but me thinks we are going up faster and faster.

hey moron,

last time was preceded by massive inflows of money to gox. not happening now.

we go to $180, and no more. We level there until gox fixes its shit

I wrote a longer answer to the 51% network attack over on r/bitcoin. The way I see it, the attack is almost trivially easy to pull of for a large motivated entity, such as, say,  the US government.

There are two layers of protection against this happening, imo:

one, at the moment the price is low (300 to 400M USD), but *interest* to attack btc directly is also comparably low. That might chance as btc becomes more established, but then the *price* will also be higher.

two, network composition. if any large group suddenly enters the scene, outcomputing everyone else, that will most likely be noticed, and investigated by the community. I don't believe it would be easy, even for a government with loads of money, to pretend to be several thousand individuals forming a mining pool.

The average per day for the year is >50k for gox last 50 days its 20k average. Bitstamps has about 6.5k ave. for the year and 10k last 50 days US market. gox'es trentline ponting down bistamp is on a strong uprend. The regulators doing a good job decentralising the exchanges for the decentralised currency.

http://www.businessinsider.com/bitcoin-surging-2013-9

It seems the rise is starting to get noticed outside of the bitcoin world!

I personally think some big money is waiting in the shadows. Imagine if a couple billion moved in right now. Popularity would skyrocket, everyone would go all-in (because the initial billionaire pushed the price up to extreme highs already), pushing the price up even further, earning the billionaire who invested his money a huge ROI? Why wouldn't they do this? Prolly because the market is not liquid enough for this kind of money. Maybe the bitcoin ETF from the winklevii will allow this kind of money to move in.

Well read my post more closely and then you'll notice i said that the market (eg mtgox) is not liquid enough for this kind of purchase. Only a professional market with tons of liquidity would allow this kind of money to move in.

I'm registered as a business with eBay (I think) and I sold about $30,000 USD worth of Casascius Coins on eBay. When the original voicemail was left for me I think he was looking to gain information on whether or not I would return to selling BTC on eBay if their policies were adjusted to allow it, (hence the incorporating it into ebay as an allowable item to sell). Then when we got on the phone we began discussing how PayPal can eliminate or reduce the liability to the seller regarding Fincen guidelines.

Don't kid yourself. They just froze funds for Mailpile. They won't do anything until they have figured out how to corral Bitcoin into black-hole eBay branded wallets.

I find it weird that the blog entry is missing comment section below the post.

different facebook "share" button.
no date.
the images are not hosted on their site.

I did not find this blog entry(still looking for it) after checking some of their older "deals blog" posts.


Also, I can still remember the fake blog @ CNN Politics Blog about an order by a judge to seize the assets of   BTC-e.

Close? What time does Gox close?

Nice attitude, hey?  Well you feel free to talk about the walls and all the trading that's happening then, not that there are any to discuss.  Everyone else has been off topic too for this reason too, so why single out what I wrote, hey?

Honestly though I really can't be bothered to argue about this with you, maybe this thread should just be closed down until someone puts up an ask/bid wall to keep you happy as this is officially a single topic thread. (not a thread that you created though and you're not its moderator)

People aren't scared of DDoS anymore. if there is a dump beforehand, yes. But this wouldn't scare me at all if i were in BTC,(and I'm not; nor am I excited to be in fiat) unlike months ago where id be frantic.

DDoS has been overdone. Need at least a couple thousand dumped to make  anything happen

Below is my hypothesis / speculation (nothing more than a speculation of an old man) from yesterday of what I though MIGHT be possible today / tomorrow. I put my buy order aggressively low.

We'll see what happens if Gox's feed works again

So the debate is between good jurisdiction and actually being able to access, trade, and reacquire your bitcoin. Sounds like a tough choice.

I hope not. I have some money deposited in Gox.

Besides Japan is a good jurisdiction for a bitcoiner who lives in a legal fiction called EU. I wouldn't be putting serious money in bitstamp.

Goxtool is customisable, but if it's not like in this screenshot, then I don't know what you're talking about.

now you need to be registered to withdraw BTC.
( there appears to be no official word about this )

International wire is delayed by months. SEPA transfers less than certain amounts occurs within a few weeks usually.

Thanks mr. loozik, sir.

Is there a way to focus on, or blow up, the volume averages? That is the only thing I am interested in.

Side-note. WTf, gox is showing ~4000 24hr volume right now. Doesn't that volume indicator usually peak around this time of day on Weds or Thurs? This is sub-weekend level....

The eu

If anything it would be the EU run right now.

Anyone have an update on those huge coin movements? We need them tracked ASAP  

Huge bidwalls appearing on bitstamp at high $120s. Now, I understand the Gox buyers. But what are those people smoking? Thats ABOVE the pre-SR news price.

Dumb fucks.

Anyone have an update on those huge coin movements? We need them tracked ASAP  

Huge bidwalls appearing on bitstamp at high $120s. Now, I understand the Gox buyers. But what are those people smoking? Thats ABOVE the pre-SR news price.

Dumb fucks.

It was quite funny: Twice I found my self watching BBC world or CNN announcing bad news about Cyprus and QED  and manage to buy and watch the price go up 4-5 seconds later on Gox.

At the height of the currency war I spend as much time pondering about what tricks Cameron had up his sleeve to muscle Merkel. (It turned out that he has using Gorge Soros to destabilize the Euro by doing hefty Gold / Euro trades and by that forcing Merkel to give the English a better deal in EU), as I did watching Bitcoin. So having the "professional feel" of a high profiled trader, watching gold, Euro, USD, Yen on extra monitors, gives you a lot of edge in trading Bitcoin and gives you an early warning system, sometimes minutes, when doing trades on Gox.

As I said, That's almost a full time obsession and your family feels totally annihilated so I kind of returned to normal family father and don't really have that edge any more. That's why I'm asking if anyone have a feeling of close ties between Bitcoin and the real markets at the moment?

And the vid was nice, good voice!

Looks like the TA-ers here believe that 152.91324 USD version October 2013 per bitcoin was "speculators getting ahead of themselves". I think not. We need this pace of appreciation if we are going to get to 1000 in a reasonable time.

i'm buying feathercoins 

There is currently no good reason why an altcoin would perform so well. Keeping track of all of them is also too time-consuming.

The post-crash high of 166 and old ATH of 266 did not see meaningful volume, so they might be cleared with surprisingly little effort. Two weeks of trying to assault 32 was imho "surprisingly little" but this may be even less. That said, I would be more confident if we retraced at least 10% from now, and also took several attempts to beat 266.

There is a high probability that we are in the early stages of a megamove taking us 10-100 times higher. It does not make too much sense to unload BTC to strength in this early phase of the move. I don't plan to sell until 4 digits and/or if it starts to look unsustainable and/or I have an insatiable need for purchasing something. Because of this general analysis, I will skip even daytrading. There is just too high risk (to miss a part of the move with part of the stash, holding fiat) compared to expected reward.

I did a test withdrawal of 1.5 BTC and it worked a couple of hours ago.

It took a while (1 hour maybe) to show up on the blockchain though.

Both websocket and socketio broken. No Bots equals No Life on Gox!

I'm bored, c'mon GOX

Don't really have more information at this time. I will try to find out more about it.

Reading the Bank of Spain transfer pages, it says that the laws that should be followed are from 2010 & 2011 and there is no limit on the amount. Maybe they have not updated the page (it would not be that rare) or that this is something from the bank.

http://www.bde.es/clientebanca/productos/cambio/datostransferencia.htm

Based on those laws and until now, if the amount is bigger than 50K € you have to provide more information that is all. No limits whatsover.

He who holds the longest wins. There are no signs of a ending uptrend.

Yes, looks like a classic "2 cups, 1 bull" pattern. Very bullish.

Litecoin is in rally mode. Just now touching the last high made a few weeks ago with very high volume. Usually litcoin up = bitcoin down and vice-versa.

edit: btc-e troll box is always amusing.

If you can hold out a little longer please, my funds havn't cleared in stamp yet and i want some cheap coins when this cookie crumbles!

Meanwhile, all the bears that have sell today, first day of the week at $227 hopping for a double top feels good, but tomorrow they will repurchase at a loss...

I find it somewhat disturbing that volume is this low...

Oh, and I went to bed yesterday when the price was 229 and woke up to 229 (Bitstamp). Was expecting about 237....

You can imagine. A lot of USD trapped on Gox, and an increasing scarcity of coins, which usually preceeds bubbles... See graph below.

After $266 -> to the moon.

Yes, very relieved.

Let's see if there's a second drop even lower, but I doubt it. It feels good, was getting a bit nervous. The longer the way up, the harder the fall. We don't need a real panic here

oh noes

we crashed back to...um...12 hours ago

They forgot to DDoS bitcoinwisdom.

261 on Gox.

I think we are back to the 'lets shake out the weak hands' game again. I think there is still a lot of newcomers waiting to still buy in. I cautioned a colleague whos funds cleared on bitstamp today, to just test the market with the minimum bitcoin purchase. See if he could sell it higher. And then gage how confident he feels.

I am expecting a big correction.

It apparently is related to mining pools dumping there nice new coins directly onto the exchange. So apparently with minted coin, they need 100 confirmations before they can be spent? So he mixes your transfer out with the new mints, and presto...you are stuck waiting 3 days for your coins...

The entire world, collectively, is now getting gox'd.

A few days ago I had a 100 BTC withdrawal from Gox delayed by about 40 hours.
I currently have 3 BTC withdrawals in GoxLimbo at the moment, 100, 51 and 49 BTC.
Not that I am particularly bothered by delays as I am in the tedious process of moving all my BTC off Gox to keep in my own cold storage, but it doesn't inspire much confidence.

I get the impression China is going to wait till after the weekend to reach 2000. It looks like end of week profit being realised. Which could trigger something interesting...

PS Agreed stan.distortion, it is still a technical hurdle to have a secure wallet. But good that this is being tackled.

Update: Just checking the 24 hr high low of Gox. high: 338.35  low: 281.00

Looks like that was just another nice little pressure valve release.

How helpful

Is there any real indication that Gox is practicing fractional reserve?

I'm pretty sure the people who are the richest in the Bitcoin world are the ones who just held.

Honestly I'll be concerned if the current growth rate on the weekly chart continues for more than another week without some consolidation. In April we had two > 30% weeks followed by a 45% week before the crash.

Current week is +35% with one day left to go.

If you look at the one hour graph this looks similar to 11/7 between 0700 and 1400, so be careful.

We've got 16 hours to turn this daily candle green. Was this just a weekend dip?

Well, the good old weekend dip is back. I almost forgot that 95% of my BTC were bought on "weekend dips"

I'd guess $120-$150.

So long as it stays above $100/$110 that's a huge advance over the April post crash low so things will still be looking good in the long term.

Bank holiday where?? In YOUR fucking country??

Is there a consensus on which exchange is leading these downturns?

Do you mean 20k extra coins will get dumped on Gox very soon?

"low" ? 

No this is someone capitulating about 100K coins.

mm' morning rabbit which way do you predict BTC will move today?  tia!


---((((((((((((((((((((((((vvvvv*click*vvvvvv)))))))))))))))))))))))))))))))---

We're in for a possible decline to < $250 a coin. Be warned.

Because now the exchanges are responsive and allow this kind of fast trading.

We should have always reminded ourselves gox's unpreparedness caused April's slow, painful crash, where you could barely log in let alone sell

I thought we might see consolidation at around $300 for while, but the highlighted article on Zerohedge saying BTC could go to $1m is dynamite.
Bring on $400.

Im not buying through a online website. Its a trader and the only one in my country. He reaches his daily limits pretty soon.
Its my first bitcoin purchase btw 

Waiting on SEPA from Friday morning to arrive on Stamp. Quite annoying considering some people were credited SEPA transfers on the weekend. Sadly mine, which was already put through on Friday by my bank, wasn't one of them.

Recovery is continuing. Faster than I expected actually.

Mt.gox, 4 open sell orders that wwont cancel an also wont exacute sell, wtf anyone else experiencing this. Refreshed a million times

I just had a bit of a "holy shit" moment.

Bitcoin will break China's control over CNY outflows.

It is very hard to get CNY out of China - the cap is 50k CNY per Chinese citizen per year. This is a big reason why there is a huge arb between USD and CNY Bitcoin exchanges: Westerners can't just wire yuan out of the country. However, as this bubble settles down and the arbitrage market does its thing, more and more individuals in China will cash in on their 50k CNY limit, since it is an easy profit opportunity. They will wire their money to Western exchanges, buy bitcoins there, and sell them domestically. The Chinese markets will drift closer in price to the Western markets.

This means you will be able to move money in and out of China freely, by buying bitcoins on one end and selling them on the other. Chinese citizens will act in rational self-interest to effectively "sell" their 50k CNY export limits.

If wealthy Chinese people would like to buy lots of expensive things directly from the West... now they can, by purchasing the import limits of others by proxy.

Of course, China will not like this.

Sent it off to 4 data recovery companies. Almost all datas intact, but the bitlocker metadata (including master key) are corrupt... 256 bit AES key

relax. stay friendly. they will not take btc from your account. hopefully your password is/was safe.
my experience with them concerning issues like this was always good. i had an account that was sitting untouched between 2011 and 2013 (i thought it was lost, but it wasn´t)

"The bull case scenario is a $400 billion market cap. So the market cap is around $4 billion right now," Tyler Winklevoss said

http://www.cnbc.com/id/101190181

We are going to be filthy rich ( bulls only )

What come's next when Bank of America is promoting Bitcoin to it's bussines customers? A crash? 

Link

Slow volume, I've expected more things to happen today.

It's really interesting situation. My view is that 400 has to be broken soon or people might lose confidence and start selling.

That's the other option too, I agree. But I'll consider both of them, 400 is resisting for 4-5 days now and that is interesting with all bullish sentiments around.

Some big buy would need to jump on 400 wall for smaller players to join the party.

To be honest, I'd be pretty bearish at this point if it wasn't to Lucif being bullish. I respect his analysis a lot.

heart in mouth

did anyone get the gif on bitcoinity when we hit 400? shuda been nice no? or do they only happen for stamp prices now?

BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCx1O
imo~USE THE /\FORCE\/ TO $500+!!!

vvvvvvvv((((((((((*clicK*)))))))))))vvvvvvv

Pizza index: $4,000,000
If it wasn't a pizza for gods earlier, it is now.

BitLicense  

http://www.dfs.ny.gov/about/press2013/virtual-currency-131114.pdf

Just watch, there will be a ton of holders and early-early adopters waiting for 500. It could take us weeks, maybe months to get past that point. There will be enough coins for all who want to get in around that price.

[fiat stuck on gox]

It went from 3200 to 3600 within 1 hour.. going back to 3420 seems like only a minor correction and still a crazy 200 CNY increase from an hour earlier. Wouldn't be surprised if it cools down a bit more.

Say it's half investment/hoarding and a large part currency exchange, purchase on BTC-China, transfer to stamp and withdraw USD. Either way if the Chinese government decide they don't like it then there will be problems. Your right though, we don't know what's being said in the upper echelons of the Chinese government. Is this a convenient tool for them to undermine the dollar? But why apply such strict regulations to the yuan and then let your subject's flaunt those rules?

China isn't America, so if the shit hit's the fan, people will be less Bitcoin-rambo as heads roll when the government say so.

There are almost no coins left on the exchanges.

anyone watched ltc? it went form 4.1 in the morning to over 9$ now. Fuck this, good I grabbed some  

Cool, thank you-- nice site. And, historically, he wrote exchange software for BTC, or was part of Gox, or ...?

16 days ago the price was 210

Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

$900 to $453 is a healthy correction?

Ask anyone in investments if a 50% crash in price is healthy. Good for business.

SMH only in Bitcoin.......

Oh, look, it's me in 2011 and 2012.  Except I grew some balls and now I'm rich.

Yes, before ema 30 hours crosses ema 7 hours, no reason to think the trend is turned around.

good morning /\rabbit! *how about $50 -> $10,000+ !   LOL!!!

you're doing something wrong.

Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

It is so easy to sell in China. I started the selling program yesterday when I realized that the price had overshot:

- Open the account in BTC China
- After a few hours you get confirmation email
- You can fund your account instantly (no limit in funding)
- Selling works well and liquidity is good - today I have already bought 6.2M CNY  

I managed to lose a trading password, needed for initiating transactions. They reseted it on the phone, doing overtime. The clerk spoke very good English. The KYC procedure is also reasonable. No trading fees. Why should I ever trade in the western snailexchange??

Oh yes. How to get back the profits? There is currently a healthy 24% arbitrage between Stamp and BTC China. If you sell now in China, you get $680 equivalent of CNY. When the premium evaporates (during the last 6 months, about half of the time premium has been about 0% and most of the time <10%), you buy back, transfer to Bitstamp, sell and pocket the money.

I don't see how China premium could not revert to <10% in the next 2 days.

I had a good laugh @ 1k prediction that bruce wagner was throwing around and increased to 10k during the 2011 rally. But with his strategy "buy now, never sell" you'd still be pretty well off today.

Say bye bye to $500 for some time....

The reason why there are so many idiotic postings...
Probably more then 50% here have less then 1 btc and are younger then 18 years old -> can't take anything seriously from such users

Every "normal" guy can afford at least 10-100 btc.

This will be answered in 24 hours.

I am already giving up the hope for double top, but it does not matter, since my strategy is intact.

this allowed me to sleep through the day. Woke up to price rises only woo woo

I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.

$34.8 million now on the Gox order book. This is up from around $13 million at the start of October.

I understand continuing to use Gox as I've been using them since the very beginning, but I certainly wouldn't be sending them additional $ if I wanted to buy BTC in the last few months.

Is this perhaps USD that was always there, but not on the order book? Or are folks really sending new $ there? Perhaps the Second Market guys? Other large investors? I could see them not going to Bitstamp due the lack of liquidity. I still believe (no evidence) that Gox has private deals with large players for USD withdrawals. But they can't risk opening up that faucet to everyone and having it turned off until their issues with the US Gov and CoinLab are addressed.

there is a momentum surge to the upside awaiting , i can see it at the horizon

Perfect time for a whale to cash out.

whales don't eat cash they eat shrimp

1

Woow price is moving a bit too fast atm.

For most people, holding 100% of the initial amount is not a wise choice. It is good to diversify by selling into strength to account for the possibility of a black swan event in Bitcoin technology. This way you steadily accumulate also non-BTC assets, and can learn how to handle wealth. You sleep better and don't see dips in price as an opportunity to panic, but rather an opportunity to buy back if you really feel like so. The selling plan must be based on percentages, which means that no matter how high bitcoin goes, you still have more value in your remaining BTC.

If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.

If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.

Learnt my lesson in the past... holding through this.

Edit.. Stamp 834, Gox 817.  Makes me nervous when Stamp's ahead.

Ok I will won't take your word for it.

845... 846... 847? Stamp already bouncing back.


Thanks for this, wasn't sure how to interpret!

Sold at 820$ on stamp. Had a good feeling about that. Lets see what happens ^^

Yeah the fees are ruining it but I still have 50% of the coins.


So, what you mean? good or bad what I did?

Think of the value.

If you value bitcoin more than other things, just buy now. If you would like to have more coins but don't mind having some other things as well, select a suitable buyback price.

My buying range is $300-$500 but obviously I haven't set the bids yet because it would look bullish on charts.

(I disregard sarcasm and seize the opportunity to teach )

Sure.

Your are doing a great job. I can't find words to describe how grateful I am.

Sorry, I don't want to see a mass adoption bubble right now. Too early. I'd rather have 5-figure coins in the future than a mad gold rush now and millions of Chinese losing their shirts in a massive bubble.

We haven't even had enough volume to say "alot".  In the past three weeks we have had an average of roughly 40,000 coins going back and forth between hands.  Liquidity is low, atleast in the high end segment.  When we have 20,000 bids above 1,000$ and a million coins change hands in the course of a day, then I will see the volume, until then.. a few coins tossed around here and there for 5-10% here and there is not practical volume.. Rome wasn't built in a day but it certainly can be destroyed in that time.

Exchanges have to sell their bitcoins to pay for their costs.
If an exchange is overcharging for too long, others will come and drive the transaction price down.

If you want to double your money on LTC now the price must go up to 80$. If you bought in at 9$ you would have 4x your money already.

Perhaps gox introduced 0% fees to stress test their new interface?

Just for a few days i think. Black friday and such?

HMM on the gox site news: 4) Bitcoin Black Friday through Cyber Monday – Trade with Zero Fees!

Are you referring to my preferring to consider USD volume? If so, I'd like to hear your thinking there. It'd be pretty amazing to see both, BTC volumes from a year ago and today's prices right now. Yet today, selling enough to, say, buy a house compared to selling the same a year ago isn't a very big chunk of the daily trade volume.

Or maybe you take exception to my ribbing about the general idea here that speculation should increase liquidity, therefore decreasing volatility. I could have phrased that better to begin with, but my point was: if that's true, then given the barrier to speculate has now been significantly lowered, volatility should decrease. I guess we'll see!

It would help if Gox's new UI didn't suck balls.
Every time I go for a market order, it says I don't have enough funds, when I clearly do. It's so frustrating.
By the time I've refreshed the page, and re-entered the same volume of cash that I put in first time, the market has run off without me (again)

Honest question: Is $10,000 possible in 2014?

I will start panicking if it goes below $900.

China is bleeding.

Yes.

Bitstamp is bleeding.

I am surprised there is so little action in this thread.  Usually when there is a lot of volatility, I have to try clicking "post" multiple times in a row, because there is such a high number of replies.

Was that ever different?

i had 320,000 that i sold recently. wtf are people thinking?  i made like $2,000,000 more or less on accident. this sort of thing makes me worried. no fucking way that should happen. that alt is not worth much at all, its why i got so much of it in the first palce.

yes, i was shocked a lot when i saw it, and yeah then i went to scared. i was like wtf!     im all for having a back up but no way in hell is ppc worth that much. this is going to end in tears for someone.


anyway i traded it in for btc.

it took me literately 3 mins to figure out 3 x 6 in my head after i saw what it was priced at. i dont get shocked or stunned at anything but that was just insane. i still have no idea how in the hell people could think ppc is worth anything close to that. its either crazy hype there is something huge im missing.

The Tor black markets are getting closed one after the other. I'd say that's pretty bullish for Bitcoin. Remember when Silk road was busted?

Its nice that you prefer it, but the thread title is BTC/USD. If you want to talk in small digits then go play with LTC.

Bitcoin is moving into big boys territory now so just deal with it.

If we enter a bear market i bet it will be shorter than ever.

The run-up took just one month and a half, half of what we have seen from February to April.

I see the boom and bust cycles been shorter and more contained.

No. Total bid sum vanishing fast as we bounce. Don't expect it to replenish any time soon given all the bearish news.

The bubble was too big, it's going to take much much much more time to recover (if it does).

why is everyone so afraid of the weekend

the weekend dip myth was busted in 2012

You mean attempting to artificially protect the price?

Does anyone want to hold onto my money?

All fiat just now, I think I'll give this one a day or so till the dust settles.

I think a lot of btc is leaving gox for pastures new

seems like everyone but china is panicking about the news out of china

I was not on this forum but I was in bitcoin. And nobody knew what a bitcoin was.

You and a LOT of other people as well are hoping for $500.   Which is exactly why it probably won't.   I suppose it could, which would be lucky for all of us, but I don't see it as likely.   I would not unwind a position though, the main regret all of us here have is selling.   We say at one point or another that it would have been nice to catch a top and then a bottom, but what keeps you up at night is knowing how many bitcoins you would have had if you had just held more at one time or another.   Pick a portion to play with, but for your own sanity, put most in cold storage.

The day is still young, foolish bull.

Your probably better of that way.

wrong thought process then, I got in at 140-980, no fears if anything this mean the future top will be immensely larger.. cause nothing really has changed about the bitcoins actual value.. besides the current speculators fears regarding it.

 If you wanna day trade just stick to the sell high buy low. however not as easy as it seems.

I'm not fully convinced the correction is over, but Bitcoin is here to stay.  I've learned that much and after some of the ignorance I see posted around the web in the various comments sections of negative Bitcoin articles it actually makes me respect you crazy people here, even more.  Most people just have no clue how the money in their pocket and the system they live under is robbing them.  And they celebrate it.  It's saddening because they "rah rah" for a system designed to steal from them.  It angers me that this system still stands and these greedy bastards are still getting away with such corruption. 

I know, off topic rant.  Just wanted to say...keep fighting the good fight.  The people need us, even though most don't yet know it.

It's more like who didn't buy at 570. Me, for example.

how many coin were sold in the last 5 seconds?

 

I can't

ops i spaced out

4

that bitch put that wall again there

NO CHOO CHOOO?

cmon guys, dont disappoint me.

dont crash?

please?

Probably someone that promised themselves during the crash that if they ever had the chance to cash out $X again they'd do it.

Interesting to see what happens tomorrow and after tomorrow when friday transfers arrive

?

I'm starting to see this long term bearish trend coming.  This last bubble pop is somehow just different from before; the increase in price was just too fast... the the slower pop just makes this look more bearish.

People should not be scrutinized for taking positions. What ever you do.... As a speculator anytime you sell no matter the reason history has proven you have lost out.....

Lots and lots of coincidences, gox ddos'd into a go slow, China becomes invisible to westerners, terribly scary looking dumps, forum disappears, perfectly normal stuff in bitcoinland. That's a steady downtrend on the charts btw, it may look like its been kicked around by an adolescent whale-bear mutant but its really a steady downtrend. Trust us, we have TA

Cup and handle on the 30 minute chart?

http://bitcoinwisdom.com/markets/mtgox/btcusd

Conditions are so bullish it doesn't even make sense... Why the hell are we just stagnating?


TO THE STAGNATION!!!

┏(∘0∘)┓
┗(°0°)┛

mmmmmmmmmm...whale caviar.

BitPay has that system for internal use. They pull all bids & ask from all exchanges and always buy low, sell high. Supposedly when you use their service you are reaping the benefits of that.

If/when we breach this massive support on Gox and Stamp there will be a huge fall.

Discuss

thats not fast they are still at 4700, could form a double bottom once again