Re: Wall Observer - MtGoxUSD wall movement tracker

If there's bigger news in the morning about DHS launching criminal proceedings against Gox, yesterday's downswing will look mild. If the biggest BTC exchange loses the ability to do business with US clients, that's a _huge_ problem, and not at all a case of having weak hands or being too bearish.

Oh for sure. If they go after Gox directly...that's 80% of the market, frozen. These prices may make no sense to me at the moment but there is no way, I'd be keeping anything at Gox right now. You're just asking to lose it all. And nothing says they have to give it back either.

On a side note: This stuff is really fascinating. What a unique time in history.

The solution is to keep your assets in BTC in your own wallet, not as fiat or BTC in exchange accounts.

Which really is nothing new.

Buying BTC to transfer out makes sense but holding a devaluing currency is just silly when I can convert to fiat somewhere else and rebuy low.

Your constant desire to buy lower (along with others like you) when you have already had ample opportunity is what is devaluing the currency. It's a self-fulfilling prophecy.

At some point, the momentum of what you are trying to do in the short term will overwhelm any momentum that will allow you to gain longer-term. People will just get bored. Then you can buy your cheap coins, and keep them.

No, a warrant from homeland security and a possible shutdown of the largest exchange (80%), is devaluing the currency. Don't blame me for being a bear and I still think we're going to double digits and probably retesting our 50-60 lows. I hope DHS rains fire in the morning. Cheap coins for all! Hopefully me saying it does fulfill it. Happy now?

No, shutting down fiat payment flows does NOT devalue a currency intrinsically able to route around such problems. Furthermore making it more difficult to obtain does not decrease it's value.

Frittering away market value speculatively just at the time when big investors may be looking to come on board, does.