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

[ChartBuddy]

Explanation

[byronbb]

Oooh, looks like some new 'news' on the cards:
http://www.ibtimes.com/bitcoin-terrorist-threat-counterterrorism-program-names-virtual-currencies-area-interest-1579699

Rumour has it Saddam paid for his WMD's using bitcoin, won't somebody think of the children... Meanwhile paper dollars remain the No. 1 currency for criminals worldwide.

Earlier than I expected.

EDIT: Ah, they're only studying it. Good, good.

Now I will keep my funds on the European exchanges for sure.
Edit:
This news combined with the fact that Mastercard hired some lobbyist to create some anti-bitcoin awareness is really bad news.

No it isn't. It means people who run Mastercard are afraid of bitcoin and are confirming it's utility by attacking it.

[Cassius]

Oooh, looks like some new 'news' on the cards:
http://www.ibtimes.com/bitcoin-terrorist-threat-counterterrorism-program-names-virtual-currencies-area-interest-1579699

Rumour has it Saddam paid for his WMD's using bitcoin, won't somebody think of the children... Meanwhile paper dollars remain the No. 1 currency for criminals worldwide.

Earlier than I expected.

EDIT: Ah, they're only studying it. Good, good.

Now I will keep my funds on the European exchanges for sure.
Edit:
This news combined with the fact that Mastercard hired some lobbyist to create some anti-bitcoin awareness is really bad news.

No it isn't. It means people who run Mastercard are afraid of bitcoin and are confirming it's utility by attacking it.

Free advertising.

Some transactions are fast, low-cost and secure.
For everything else, there's MasterCard.

[JorgeStolfi]

It is almost 5:00 am in China, and suddenly there is a rally with ~3500 BTC either already bought or in raised bids.  It does not seem to be coming from the West. 

[ChartBuddy]

Explanation

[kodtycoon]

It is almost 5:00 am in China, and suddenly there is a rally with ~3500 BTC either already bought or in raised bids.  It does not seem to be coming from the West. 

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

[F-bernanke]

It is almost 5:00 am in China, and suddenly there is a rally with ~3500 BTC either already bought or in raised bids.  It does not seem to be coming from the West. 

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

Good bid support on huobi aswel.

But it's time to stop looking at the fake chinese exchanges.

[KFR]

Some transactions are fast, low-cost and secure.
For everything else, there's MasterCard.

+1

[kodtycoon]

It is almost 5:00 am in China, and suddenly there is a rally with ~3500 BTC either already bought or in raised bids.  It does not seem to be coming from the West. 

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

Good bid support on huobi aswel.

But it's time to stop looking at the fake chinese exchanges.

your saying all that buying is fake?

[F-bernanke]

your saying all that buying is fake?

I don't know, but the way the volume behaves on that exchange is very strange.

of course the 0% fees play a factor aswel.

[greenlion]

Oooh, looks like some new 'news' on the cards:
http://www.ibtimes.com/bitcoin-terrorist-threat-counterterrorism-program-names-virtual-currencies-area-interest-1579699

Rumour has it Saddam paid for his WMD's using bitcoin, won't somebody think of the children... Meanwhile paper dollars remain the No. 1 currency for criminals worldwide.

Saddam also 3d printed the casings, and rode Uber to stay at places he booked over Airbnb.

[Walsoraj]

It is almost 5:00 am in China, and suddenly there is a rally with ~3500 BTC either already bought or in raised bids.  It does not seem to be coming from the West. 

Pumper without chinese bank account is withdrawing bitcoin before the exchange shuts down.

[JayJuanGee]

@simmo77

I like rpietila and windjc although windjc might be overly pessimistic because of loss of millions

Was it loss of millions or failure to profit by millions?

I recall him saying he was too naive and stupid to not short at 1.1k
so I guess he meant failure to profit by millions

Yes... there is a much different dynamic when a person is trading in the black versus in trading while being in the red......

[kodtycoon]

your saying all that buying is fake?

I don't know, but the way the volume behaves on that exchange is very strange.

of course the 0% fees play a factor aswel.

im in no ways a day trader.. but look at bitstamp.. draw line from may 29 2012 to 9 jan 2013 and another from may 29 2012 to 30th of sept 2013(big red dip before rise), and a 3rd from the last low of around 340 to the last candle.. all on 3 day chart.. if bitcoin is rising with exponential growth.. would it not make sense that these lines go more and more vertical with each rise? and would explain this sudden burst in buying...?

[JayJuanGee]

I told you few days ago, that bitstamp is going to be closed  due to some illegal activities. That wasnt just a rumor;)

Please, enlighten us.

as far as my sources teold me. Bitstamp is involved is some illegal activity, presumably  some paedophile groups use  bitstamp to exchange money. That is why bitstamp  is going to be closed for investigation etc  next week or so.

If (or really, WHEN) it turns untrue, I hope someone here will remind me to have this guy banned.

that is almost like a bet.  It needs a timeline.. maybe one or two weeks (or NO later than the end of the month), if the closing of stamp does NOT happen, then Chromosoma = banned... he definitely has been spreading a lot of NON-substantive bitcoin is dead FUD>>>>>  that's for sure.

For all you know he could have been told a lie from someone else and truly believed it.

I wonder why you have this seeming burning desire to defend FUD spreaders.  Chromosoma seems to have developed a FUD spreading pattern of behavior.  Further, when a poster is making outrageous and difficult to believe claims, s/he should have some kind of affirmative obligation to provide some sources for that claim.. . or at least some logic concerning why the claim is plausible.. .. IN this case, Chromosoma is NOT only claiming plausible, but s/he is claiming high likelihood bordering on certainty that Stamp will be closing....   Probably, we are giving him/her too much credibility and airtime by merely discussing such baloney assertions.

[soullyG]

Looks like someone tried to hack LocalBitcoins:

LocalBitcoins received a very dangerous attack against the site infrastructure on Saturday 3.5.2014.
For now

• All user data and Bitcoins are safe;
• The site will be down for a while as the system is being rebuilt

Details
LocalBitcoins hosting provided received a request to restart the LocalBitcoins.com website server and give access to the server console (root) on Sat May 3 13:32:27. LocalBitcoins team did not initiate this request. For now, it looks like the request was made using spoofed email addresses and other weakness in the hosting provider support system.

• LocalBitcoins team was alerted about the abnormal activity when the hosting provider restarted the server.
• The attacker gained a root access to the server for ~40 minutes before the attacker was kicked out and the server shutdown.
• All data on the website server is encrypted. Manual actions are needed to make this data readable, so the attacker could not gain access to the data even when having a server console access.

It is very unlikely that the attacker gained access to any data;  LocalBitcoins is still performing full investigation on the matter.

• Bitcoins in hot wallet and cold wallet are safe, as LocalBitcoins runs its bitcoind and wallets on a separate server.
• LocalBitcoins team has started to rebuild the website server on fresh hardware.

LocalBitcoins team will make further announcements when the investigation proceeds and the site becomes available again.  We expect to spend at least 24 hours on this. LocalBitcoins team apologizes the issues the downtime may cause to the users.

[TERA]

I told you few days ago, that bitstamp is going to be closed  due to some illegal activities. That wasnt just a rumor;)

Please, enlighten us.

as far as my sources teold me. Bitstamp is involved is some illegal activity, presumably  some paedophile groups use  bitstamp to exchange money. That is why bitstamp  is going to be closed for investigation etc  next week or so.

If (or really, WHEN) it turns untrue, I hope someone here will remind me to have this guy banned.

that is almost like a bet.  It needs a timeline.. maybe one or two weeks (or NO later than the end of the month), if the closing of stamp does NOT happen, then Chromosoma = banned... he definitely has been spreading a lot of NON-substantive bitcoin is dead FUD>>>>>  that's for sure.

For all you know he could have been told a lie from someone else and truly believed it.

I wonder why you have this seeming burning desire to defend FUD spreaders.  Chromosoma seems to have developed a FUD spreading pattern of behavior.  Further, when a poster is making outrageous and difficult to believe claims, s/he should have some kind of affirmative obligation to provide some sources for that claim.. . or at least some logic concerning why the claim is plausible.. .. IN this case, Chromosoma is NOT only claiming plausible, but s/he is claiming high likelihood bordering on certainty that Stamp will be closing....   Probably, we are giving him/her too much credibility and airtime by merely discussing such baloney assertions.

why do you call Chinese situation FUD? Chinese situation is facts. it's a reality

[seldon]

Looks like someone tried to hack LocalBitcoins:

LocalBitcoins received a very dangerous attack against the site infrastructure on Saturday 3.5.2014.
For now

• All user data and Bitcoins are safe;
• The site will be down for a while as the system is being rebuilt

Details
LocalBitcoins hosting provided received a request to restart the LocalBitcoins.com website server and give access to the server console (root) on Sat May 3 13:32:27. LocalBitcoins team did not initiate this request. For now, it looks like the request was made using spoofed email addresses and other weakness in the hosting provider support system.

• LocalBitcoins team was alerted about the abnormal activity when the hosting provider restarted the server.
• The attacker gained a root access to the server for ~40 minutes before the attacker was kicked out and the server shutdown.
• All data on the website server is encrypted. Manual actions are needed to make this data readable, so the attacker could not gain access to the data even when having a server console access.

It is very unlikely that the attacker gained access to any data;  LocalBitcoins is still performing full investigation on the matter.

• Bitcoins in hot wallet and cold wallet are safe, as LocalBitcoins runs its bitcoind and wallets on a separate server.
• LocalBitcoins team has started to rebuild the website server on fresh hardware.

LocalBitcoins team will make further announcements when the investigation proceeds and the site becomes available again.  We expect to spend at least 24 hours on this. LocalBitcoins team apologizes the issues the downtime may cause to the users.

It sounds like the localbitcoin guys did everything right. Anyways, it is incredible, that people are still able to pull the "reboot my server please" attack in 2014..

[JorgeStolfi]

It is almost 5:00 am in China, and suddenly there is a rally with ~3500 BTC either already bought or in raised bids.  It does not seem to be coming from the West. 

Pumper without chinese bank account is withdrawing bitcoin before the exchange shuts down.

Could be...  I would guess that only a few traders are playing.  The "wall movie" looks more bizarre than usual, doesn't it?

A pity that @ChartBuddy does not show Huobi's order book.  The pictures should be far more interesting than those of Bitstamp.

By the way, here is an idle question (but which may have to do with the reasons behind the Chinese bans):  Suppose that colluding traders A and B have accounts at Huobi, and their goal is transfer 50'000 yuan in cash and/or bitcoins from A's account to B's account through the standard trading interface.  That is, A should make a sequence of mostly bad trades, and B a sequence mostly good ones, so that at the end A's account should have lost that amount, and B's should have gained that amount.  How fast could they do that, roughly?   (For definiteness, assume that both accounts start with 10'000 extra "working" yuan or their equivalent in bitcoins; that no one else is colluding or aware of their goal; and that A is willing to lose several thoudand of his extra yuan to other lucky traders in the process.)

[ChartBuddy]

Explanation