Jeez again, there may be 100% certainty that withdrawals will take place. New fresh selling rarely helps price.Quote:
Originally Posted by Dan Druff
Sigh
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Jeez again, there may be 100% certainty that withdrawals will take place. New fresh selling rarely helps price.Quote:
Originally Posted by Dan Druff
Sigh
People pay for porn? I don't understand. Is the web broken?Quote:
Originally Posted by DirtyB
Will buying porn turn out to be bitcoin's killer app?
http://www.theguardian.com/technolog...om-bitcoin-app
I'm not understanding.Quote:
Originally Posted by SanlmarJeez again, there may be 100% certainty that withdrawals will take place. New fresh selling rarely helps price.Quote:
Originally Posted by Dan Druff
Sigh
If you are sure that you can withdraw your bitcoins, buying at $250 would be very smart, as it's likely you would be able to unload it quickly for more than $250 once you can withdraw to other exchanges.
The price may fall at that point across the board (in fact I'm predicting it), but not so quickly to where you won't be able to sell your $250 coins at a healthy profit.
The real risk here is MtGox either not keeping their promise, or limiting withdrawals so much that it will take an eternity to get them off.
Gonna go out on a limb here. I rather doubt Gox is sitting on fat cash reserves. You want cash for your coins or just cash for transactions already allegedly completed - Gox is gonna hit the street and sell.Quote:
Originally Posted by Dan DruffI'm not understanding.Quote:
Originally Posted by Sanlmar
If you are sure that you can withdraw your bitcoins, buying at $250 would be very smart, as it's likely you would be able to unload it quickly for more than $250 once you can withdraw to other exchanges.
The price may fall at that point across the board (in fact I'm predicting it), but not so quickly to where you won't be able to sell your $250 coins at a healthy profit.
The real risk here is MtGox either not keeping their promise, or limiting withdrawals so much that it will take an eternity to get them off.
Yo Druff, at least give me some verbal credit on radio when you basically recited my prediction on what would happen to bitcoin almost verbatim. I posted it in this very thread probably two months ago. Maybe it was the gov't or maybe it wasn't but my premise of shattered confidence is looking spot on.
According to the Gox front page :Quote:
Originally Posted by SanlmarGonna go out on a limb here. I rather doubt Gox is sitting on fat cash reserves. You want cash for your coins or just cash for transactions already allegedly completed - Gox is gonna hit the street and sell.Quote:
Originally Posted by Dan Druff
Last:$269.00 High:$370.00 Low:$248.14 Vol:49983 BTC W.Avg:$284.89
So if I do the basic math they have done about $14,000,000 in volume (assume its a 24 hour volume quote but who knows). Since you can't move your btc away from Gox, I wonder where the volume is coming from? They may be selling btc on other exchanges at higher prices and paying sellers in hard currencies, or I guess matching buyers and sellers, don't understand why $14,000,000 of buyers would come on to an exchange under these circumstances, pure speculation that they can capture the 50% discount? I may be missing something here?
pretty good article on Gox from poker player Ezra Galston, http://www.coindesk.com/mt-gox-may-headed-bankruptcy/
anyone know him? he mentions his former roommate David was a super user victim. http://recode.net/2014/01/23/dear-bi...ue-love-poker/
Former roommate is likely David Paredes.Quote:
Originally Posted by Charham
If they are in the hole for coins that have been stolen this makes a lot of sense... I'm sure they have a majority of the coins held for customers in cold storage. Gox could be manipulating the price on their exchange downwards with this in mind.Quote:
Originally Posted by CharhamAccording to the Gox front page :Quote:
Originally Posted by Sanlmar
Last:$269.00 High:$370.00 Low:$248.14 Vol:49983 BTC W.Avg:$284.89
So if I do the basic math they have done about $14,000,000 in volume (assume its a 24 hour volume quote but who knows). Since you can't move your btc away from Gox, I wonder where the volume is coming from? They may be selling btc on other exchanges at higher prices and paying sellers in hard currencies, or I guess matching buyers and sellers, don't understand why $14,000,000 of buyers would come on to an exchange under these circumstances, pure speculation that they can capture the 50% discount? I may be missing something here?
Something very fishy going on, you'd think most people would hold their coins and wait it out?
If Gox sell 20,000 coins on the other exchanges and buy back on their own exchange they make an instant profit of $8,000,000 or 40,000 coins, and they don't need the cash up front from the sale as long as it arrives within a week or two, while they hold people off with withdrawal limits.
Isn't this strange?
Current list of open order is heavily biased towards buyers yet the price is not going up.
Funny shit is happening on Gox.
1,300 coins wanted to buy and virtually no sellers, yet the price is staying super low.
Edit* I just noticed this, look at the sell list @ $276
The sum total jumps from 69.7 to 95.0 yet the sell order @ $276.25152 is only 0.2593 not 25BTC
1,300 coins wanted and 69 for sale.
I might sound like a madman, but I think we all might be missing the plot.
Mt Gox are getting rich!
How many people have coins tied up in Gox right now?
How many big transfers stuck in their system?
Who's actually got available funds on Gox?
Not many I reckon, many tried to get cash or transfer coins that are in limbo.
I'm not saying they planned this, but I reckon an opportunity could have presented. :)
Tons of tiny buy orders pushing the price down, and sellers sitting there buying from the panicked and scared, nobody chasing BTC on Gox because there is no real amounts of buyers on their site with any cash.... except for the management mostly.
it's super fishy, there is tons of buy orders but nobody is chasing BTC, a few whales!
Not getting rich, seems more like trying to get back to even.Quote:
Originally Posted by Salty_Aus
Assuming they have had coins stolen, I'm not so sure.Quote:
Originally Posted by Muck FiconNot getting rich, seems more like trying to get back to even.Quote:
Originally Posted by Salty_Aus
It's all such a mess and it could be the perfect excuse, or even planned.
They'd have a running balance, they would pick up a theft pretty quickly... and no way they're going to be resending large chunks of coins.
Plus, you can't get cash off their site easy, they'd notice by the time they finally sent the money. (especially a big amount)
But it did scare a lot of people to take their cash off the site. :)
Withdrawals were backlogged for months.
Couple of hours later we still have tons of buy orders and no real number of BTC for sale.
Jump the Shark moment for Bitcoins:
Winklevoss Twins Launch Price Index for Bitcoin Named the ‘Winkdex’
20k for a bitcoin ATM, druff you should set up a few in the LA area.
http://www.cnn.com/2014/02/18/tech/i.../bitcoin-atms/
I'm sure anyone who made their first purchases on MtGox when it was 800 expecting it hit 1200 are just shitting their pants with pure joy right now.Quote:
Originally Posted by donkdowndonedied
Big drops in the last hour. Gox down to $180. Coinbase down to $599 ATM.
More oddity on Mt Gox.
Look at the nice straight line for the last ten hours of trading, and now again it's falling off a cliff.
I know when I see a market that's being manipulated!
Falling fast. $148 now.
And plenty of volume.Quote:
Originally Posted by vegas1369
The 'management' are trading coins between themselves to induce panic.
They are trying to scare people to sell their coins, this will stop soon and the price will pick up a little and go back to being a steady line with buyers outnumbering sellers by 10-1 again.
Edit: they control the market, there is very little non management money on the exchange.
Markets never do this, you would expect volatility under the circumstances, and with buy orders outnumbering sell orders by such a huge amount you WOULD see buyers chasing value!... not just sitting back as a group buying from the scared.
LOL... Down another $40 in 20 minutes. Down to $140.
Meanwhile, Coinbase holding tight at $605.
this shit is insane
i would have got crushed if btc weren't such a pain in the ass to obtain
I noticed this, too.Quote:
Originally Posted by Salty_AusMore oddity on Mt Gox.
Look at the nice straight line for the last ten hours of trading, and now again it's falling off a cliff.
I know when I see a market that's being manipulated!
It was unbelivably flat today. It held in the $260s for a LONG time.
It's really starting to look like MtGox is buying up their own coins at a discount to get out of this mess.
Wow, $157 atm though I seen it was lower then that earlier. Damn, I'd be sweating if I had a significant amount of coins tied up on Gox right now.
It was 24 hours in which it traded in a super thin band... but remember, buy orders were heavily stacked during this period and NOBODY chased value.Quote:
Originally Posted by Dan DruffI noticed this, too.Quote:
Originally Posted by Salty_AusMore oddity on Mt Gox.
Look at the nice straight line for the last ten hours of trading, and now again it's falling off a cliff.
I know when I see a market that's being manipulated!
It was unbelivably flat today. It held in the $260s for a LONG time.
It's really starting to look like MtGox is buying up their own coins at a discount to get out of this mess.
I'm not saying they intended to pull a scam, but the opportunity has presented and I have no doubt they are pulling a swifty.
So what if they are? The seller is presumably agreeing to that price, right? That makes it a legit sale. You want to play in the monetary "wild west"? The real Wild West was a filthy, lawless place where people killed each other over mining claims and a hundred other minor things.Quote:
Originally Posted by Dan DruffI noticed this, too.Quote:
Originally Posted by Salty_AusMore oddity on Mt Gox.
Look at the nice straight line for the last ten hours of trading, and now again it's falling off a cliff.
I know when I see a market that's being manipulated!
It was unbelivably flat today. It held in the $260s for a LONG time.
It's really starting to look like MtGox is buying up their own coins at a discount to get out of this mess.
You can try and get them charged by the Japanese equivalent of the SEC for commodities market manipulation. But it's not a sure thing that Gox would even be under their jurisdiction.
I watched it go down to a low of $137 then jump up to $180 in the span of about 4 minutes. Now it's been steady for a while (lol) in the $170's.Quote:
Originally Posted by BeerAndPoker
http://media3.giphy.com/media/9J7DlqKx4plAs/giphy.gif
Anyone agreeing to these prices is doing so with the belief that their bitcoins will never leave MtGox.Quote:
Originally Posted by DirtyBSo what if they are? The seller is presumably agreeing to that price, right? That makes it a legit sale. You want to play in the monetary "wild west"? The real Wild West was a filthy, lawless place where people killed each other over mining claims and a hundred other minor things.Quote:
Originally Posted by Dan Druff
You can try and get them charged by the Japanese equivalent of the SEC for commodities market manipulation. But it's not a sure thing that Gox would even be under their jurisdiction.
MtGox caused this mess, and for them to profit from it (or even get back even from it) is fraud and theft.
Indeed there's a good chance that nobody will ever faces charges over this whole mess, but they definitely deserve prison time if what appears to be happening really is.
It's obvious what they are doing, I noticed yesterday this was not a legit market.Quote:
Originally Posted by Dan DruffAnyone agreeing to these prices is doing so with the belief that their bitcoins will never leave MtGox.Quote:
Originally Posted by DirtyB
MtGox caused this mess, and for them to profit from it (or even get back even from it) is fraud and theft.
Indeed there's a good chance that nobody will ever faces charges over this whole mess, but they definitely deserve prison time if what appears to be happening really is.
You do not have such a sustained flat line with so many buyers stacked in the queue, on top of this you would expect volatility considering the circumstances.
Obviously they are a coordinated group or entity, sitting back and buying from those who are scared into thinking they best sell now or never see a penny.
right this minute they are buying the few hundred coins available!
Will be trading at $220+ in a few minutes.
About a thousand "real" coins for them to snaffle.
This looks like a 'final play' grabbing the last of the cheapies... they might flood fake sales for the next few hours.
Expect the price to start to head north.
Never underestimate human greed.
$135
If I had 1,000BTC on Gox I'd be very worried.
No way I'd be selling right now.
Some people paid a million plus for a thousand coins!
Love releases like this....GG people who have money tied up there
https://www.mtgox.com/img/pdf/20140220-Announcement.pdf
Well that's not good.Quote:
Originally Posted by lvpkr1009
Just making people even more scared.Quote:
Originally Posted by DirtyBWell that's not good.Quote:
Originally Posted by lvpkr1009
I wouldn't trust that guy with a doughnut either.
Quote:
this week we have experienced some security problems
huh you dont say
Sonatine has been right. Dogecoins > Bitcoins.
http://diginvest.ru/wp-content/uploa...4/01/Ngzl1.gif
http://i.minus.com/ikT1I42ll5OGX.gif
Anyone willing to bet they dip below 100 at some point today....what a joke