Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[octaft]

I love beer, its the last day of spring break, and i'm already 10 deep into killing 48 bud lights today.

does not compute 

He likes beer so much, he even drinks beer-flavored water. That's hardcore, man.

[billyjoeallen]

Is it my impression, or has there been a general clamp-down on discussion and analysis of the MtGOX heist and its leaked database? 

It's just your impression and, more generally, the impression of Bitcoin bears.

People who have a predisposed opinion that Bitcoin is a bound-to-fail concept thought that the failure of Mt.Gox was proof that they were right. They assumed that Bitcoin would have gone to zero by now and that we would all be constantly talking about it.

People who are optimistic about Bitcoin's future don't find the Mt.Gox drama that interesting.

As the bitcoin bulls say, MtGOX is MtGOX, and bitcoin is bitcoin.  The coin will succeed or fail no matter what the bears think.

But the fact that the "bitcoin community" does not want to know what happened inside MtGOX, to me, means that the MtGOX scam was not confined to Karpeles and the hypothetical hacker.  Shouldn't investors be interested to know whether other prominent bitcoin businessmen are involved?

What is wrong with you?  I think your cynical view of people is psychological projection. Yes, there are bad actors and yes the scandal may implicate other players. We do want to know what happened but we're burnt out on this story. You on the other hand can barely conceal your glee that this tragedy happened and your hope that the damage spreads as wide as possible. You dwell on the negative always. You are a sorry little man. Does anybody like you?

[billyjoeallen]

I love beer, its the last day of spring break, and i'm already 10 deep into killing 48 bud lights today.

does not compute 

He likes beer so much, he even drinks beer-flavored water. That's hardcore, man.

LOL.

[aminorex]

The most interesting information coming out of the Mt. Gox affair was the leaked DB dump.  It is an absolute goldmine for anyone who wants to understand the dynamics of bitcoin movements, label address with transacting parties, and who knows what else.  To get that info, you flog the data.  That takes time and effort.

I don't expect any useful information out of the bankruptcy process or PR from reorganized Gox, at least not for a long while.  Discovery in lawsuits might yield interesting tidbits, however.  All of that takes time and will out in its natural course, and very little will come of flapping and twittering about it.

When there's a reasonable possibility that one can scrounge useful data from the forums, then it is reasonable to expend energy in that direction.  Contrariwise contrapositively.

[ChartBuddy]

Explanation

[mb300sd]

I love beer, its the last day of spring break, and i'm already 10 deep into killing 48 bud lights today.

does not compute  

He likes beer so much, he even drinks beer-flavored water. That's hardcore, man.

LOL.

its colege quantity is all that matters

drink da frat water!

[JorgeStolfi]

As the bitcoin bulls say, MtGOX is MtGOX, and bitcoin is bitcoin.  The coin will succeed or fail no matter what the bears think.

But the fact that the "bitcoin community" does not want to know what happened inside MtGOX, [ ... ]

That's not really a "fact", more your opinion of what other people may think.

I'm interested, just mindful that there's likely going to be a long wait before before we have any news.

Well, I belive it is a "google fact", in that I can't find any new analyses; and at least this site, which had the database on line and seemed to have made some interesting discoveries, has shut down.

[JorgeStolfi]

Hey, MtGOX issued another press release:
Announcement regarding the applicability of US Bankruptcy Code Chapter 15
https://www.mtgox.com/img/pdf/20140314-announcement_chapter15.pdf
How come, no crash yet? 

[adamstgBit]

Hey, MtGOX issued another press release:
Announcement regarding the applicability of US Bankruptcy Code Chapter 15
https://www.mtgox.com/img/pdf/20140314-announcement_chapter15.pdf
How come, no crash yet? 

wait dose this mean poeple are going to get some dollars back?

[LMGTFY]

As the bitcoin bulls say, MtGOX is MtGOX, and bitcoin is bitcoin.  The coin will succeed or fail no matter what the bears think.

But the fact that the "bitcoin community" does not want to know what happened inside MtGOX, [ ... ]

That's not really a "fact", more your opinion of what other people may think.

I'm interested, just mindful that there's likely going to be a long wait before before we have any news.

Well, I belive it is a "google fact", in that I can't find any new analyses; and at least this site, which had the database on line and seemed to have made some interesting discoveries, has shut down.

I guess I don't understand "Google fact" - it still seems a massive jump from "I couldn't find any new analyses on Google" to "the 'bitcoin community' does not want to know what happened".

[spooderman]

I love beer, its the last day of spring break, and i'm already 10 deep into killing 48 bud lights today.

does not compute 

He likes beer so much, he even drinks beer-flavored water. That's hardcore, man.

Excellent.

[PoolMinor]

Sometimes it is best to look at the big picture.

[Richy_T]

I love beer, its the last day of spring break, and i'm already 10 deep into killing 48 bud lights today.

You have my condolences.

[ChartBuddy]

Explanation

[Nicholas-Carraway]

ltc looking perky whilst btc meanders aimlessly.  Anyone else jumping into ltc?  This university takes no spring breaks.  Wishing all you's well.   

[ErisDiscordia]

I love beer, its the last day of spring break, and i'm already 10 deep into killing 48 bud lights today.

does not compute  

He likes beer so much, he even drinks beer-flavored water. That's hardcore, man.

LOL.

its colege quantity is all that matters

drink da frat water!

I still need to go to the US one day and go see for myself if these ridiculous cliches are actually true. I've heard you guys don't actually like beer, you just like to pee a lot 

[JorgeStolfi]

Yes, there are bad actors and yes the scandal may implicate other players. We do want to know what happened but we're burnt out on this story. [ ... ] You dwell on the negative always.

Whatever happened at MtGOX, it is certain that some 500,000 BTC now belong to a thief or scammer.  Added to other scams and thefts, known and unknown, it may be that more than 1 million BTC now belong to bitcoin criminals.  If those people go unpunished and get to keep their bitcoins, such crimes will not stop with MtGOX.

So, if bitcoin succeeds like his most ardent fans believe, perhaps 10% of all the money supply in the world will belong to criminals.  You want me to root for that? 

 

[Peter R]

Whatever happened at MtGOX, it is certain that some 500,000 BTC now belong to a thief or scammer. 

This isn't certain at all.  Personally, I think the most likely explanation is that the coins were stollen many years ago and sold off explaining the bitcoin bear market of 2011.  MtGox has been running a fractional reserve ever since [https://asktom.cf/index.php?topic=497289.0].  It's also possible that many of the missing coins have gone to bitcoin heaven (lost private keys), or have been seized by an authority.  

I think that all 750,000 BTC currently belonging to a single thief of scammer is the least likely scenario.

[macsga]

Still no CCMF today...

[JayJuanGee]

As the bitcoin bulls say, MtGOX is MtGOX, and bitcoin is bitcoin.  The coin will succeed or fail no matter what the bears think.

But the fact that the "bitcoin community" does not want to know what happened inside MtGOX, [ ... ]

That's not really a "fact", more your opinion of what other people may think.

I'm interested, just mindful that there's likely going to be a long wait before before we have any news.

Well, I belive it is a "google fact", in that I can't find any new analyses; and at least this site, which had the database on line and seemed to have made some interesting discoveries, has shut down.

I guess I don't understand "Google fact" - it still seems a massive jump from "I couldn't find any new analyses on Google" to "the 'bitcoin community' does not want to know what happened".

this is a very good point    LMGTFY.    I appreciate a lot of the contributions of Jorge b/c frequently he seems to be providing facts along with his various opinions; however, every once in a while we get these zingers of logical leaps  that are very misleading....   And really, I believe that Jorge is smarter than that... and who the fuck is going to conclude that the whole bitcoin community thinks one thing or another based on what a few in the community may be saying.... or even if some kind of dominant theme seems to exist...