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Firstly, tying the original posting of the gmaxwell IRC comment on goxes automatic reissues, to the "greater context".
As I said earlier on IRC, I did not mean to step on anyone's toes, especially not gmaxwell's. I had no context, since I joined the channel just moments before. I did just mean to provide information and don't have any $/BTC on Gox. Didn't mean to spread FUD/fear and have no agenda, the post was meant to be informative in nature only.
Should there be any relevant context, that changes the perceived meaning, someone please post it.
Seriously, don't apologize.
I mean, what the hell? If it's on IRC, you're free to show it to the rest of the world, simple as that. And "lack of context"? What the fuck. It's a pretty long log, so it's hardly a single line or two "taken out of context".
Really, if you submitted that log, thanks!
As said on IRC, that was my initial thinking, too. It seemed some didn't agree and I just meant to highlight that I intended no harm or offense.
About context one thing that could potentially be interesting is what gmaxmell is replying to (he's addressing wumpus). Maybe someone can add that who has been in the channel a little earlier than me?
These are the only posts I have from after I joined the channel, before my infamous quote, I cut them since I considered them not relevant:
#bitcoin: The topic for #bitcoin is: v0.8.6 | Bitcoin: http://www.weusecoins.com | https://en.bitcoin.it/wiki/FAQ | Let's discuss bitcoin--ALTCOINS ARE OFF-TOPIC | Prices: #bitcoin-pricetalk Trading: #bitcoin-otc News: #bitcoin-news MtGox: #mtgox | Rules: http://bit.ly/qNzg3P | DON'T use web wallets! | URLs may be coin-stealing malware! | Unsolicited PMs may be scammers! | NO URLs OR BEGGING
#bitcoin: Topic for #bitcoin set by jcorgan!~jcorgan@unaffiliated/jcorgan at 12:13:13 AM on 2/6/2014
epscy: mrkent: impossible to know but yeah
Snowleaksange: its smush-likely
AnonX left the room (quit: Read error: Connection reset by peer).
Mike3620 [~Mike3620@unaffiliated/mike3620] entered the room.
epscy: mrkent: most people are assuming that if they lost a significant amount of btc they would be able to cover the loss with their btc profit (which is assumed to be substantial)
The pastebin from earlier starts right after those.
How long the above rumor has been circulating who knows, it would explain the transition from goxbtc going from a premium to a discount two weeks ago. That much makes sense.
But what does not make sense is if withdrawals were automatically reissued, then doesn't that mean everyone would be getting a double credit to their wallet, malicious users and innocent benefactors combined?
Call me old fashioned but I find it hard to believe that nobody who was the unintentional recipient of a double credit in the last few months didn't mention this to gox. It's been going on for a while and not everyone is dishonest. And what about all the posts from gox customers saying they didn't get their btc? Were those users lying?
What am I missing?
Please refrain from goxsux and markhurt comments.
Today on #bitcoin
gmaxwell: wumpus: yea, I understand they had timed automatic reissues...
this was also something I didn't know prior to monday before last and is one of the other reasons my "they couldn't have lost much!" position softened to "I have no freeking clue."
alpha125: gmaxwell: where did you find out abotu the automatic reissues?
gmaxwell: alpha125: from mtgox staff and magicaltux ... I had assumed previously that any reissues were manual via customer support but apparently it was just timed.
gmaxwell: you'll also note that they've kept increasing their fees and then even mad paying fees mandatory.
gmaxwell: This suggested to me that they totally misunderstood their problems. (and I reported that I believed this months ago too)
gmaxwell: e.g. they noticed lots of txn getting stuck, they didn't understand it was because they were producing invalid txn (even though it was reported to them) and so they thought it was just 'full blocks'
gmaxwell: and they increased their fees from 0.0001 to 0.0005 which was enough to may more than virtually every txn and then later to 0.001 which is basically astronomic. And then they made it mandatory.
gmaxwell: of course their stalled txn had nothing to do with fees.
Edit: Just to clarify, only quoted relevant parts (maybe I should have inserted "[...]" where applicable). Full text here: http://pastebin.com/DaSph9uT
gmaxwell: wumpus: yea, I understand they had timed automatic reissues...
this was also something I didn't know prior to monday before last and is one of the other reasons my "they couldn't have lost much!" position softened to "I have no freeking clue."alpha125: gmaxwell: where did you find out abotu the automatic reissues?
gmaxwell: alpha125: from mtgox staff and magicaltux ... I had assumed previously that any reissues were manual via customer support but apparently it was just timed.
gmaxwell: you'll also note that they've kept increasing their fees and then even mad paying fees mandatory.
gmaxwell: This suggested to me that they totally misunderstood their problems. (and I reported that I believed this months ago too)
gmaxwell: e.g. they noticed lots of txn getting stuck, they didn't understand it was because they were producing invalid txn (even though it was reported to them) and so they thought it was just 'full blocks'
gmaxwell: and they increased their fees from 0.0001 to 0.0005 which was enough to may more than virtually every txn and then later to 0.001 which is basically astronomic. And then they made it mandatory.
gmaxwell: of course their stalled txn had nothing to do with fees.
Edit: Just to clarify, only quoted relevant parts (maybe I should have inserted "[...]" where applicable). Full text here: http://pastebin.com/DaSph9uT
That pastebin was taken completely out of context. The user on here who posted it also apologised to gmaxwell on IRC for posting it
As I said earlier on IRC, I did not mean to step on anyone's toes, especially not gmaxwell's. I had no context, since I joined the channel just moments before. I did just mean to provide information and don't have any $/BTC on Gox. Didn't mean to spread FUD/fear and have no agenda, the post was meant to be informative in nature only.
Should there be any relevant context, that changes the perceived meaning, someone please post it.
Seriously, don't apologize.
I mean, what the hell? If it's on IRC, you're free to show it to the rest of the world, simple as that. And "lack of context"? What the fuck. It's a pretty long log, so it's hardly a single line or two "taken out of context".
Really, if you submitted that log, thanks!
As said on IRC, that was my initial thinking, too. It seemed some didn't agree and I just meant to highlight that I intended no harm or offense.
About context one thing that could potentially be interesting is what gmaxmell is replying to (he's addressing wumpus). Maybe someone can add that who has been in the channel a little earlier than me?
These are the only posts I have from after I joined the channel, before my infamous quote, I cut them since I considered them not relevant:
#bitcoin: The topic for #bitcoin is: v0.8.6 | Bitcoin: http://www.weusecoins.com | https://en.bitcoin.it/wiki/FAQ | Let's discuss bitcoin--ALTCOINS ARE OFF-TOPIC | Prices: #bitcoin-pricetalk Trading: #bitcoin-otc News: #bitcoin-news MtGox: #mtgox | Rules: http://bit.ly/qNzg3P | DON'T use web wallets! | URLs may be coin-stealing malware! | Unsolicited PMs may be scammers! | NO URLs OR BEGGING
#bitcoin: Topic for #bitcoin set by jcorgan!~jcorgan@unaffiliated/jcorgan at 12:13:13 AM on 2/6/2014
epscy: mrkent: impossible to know but yeah
Snowleaksange: its smush-likely
AnonX left the room (quit: Read error: Connection reset by peer).
Mike3620 [~Mike3620@unaffiliated/mike3620] entered the room.
epscy: mrkent: most people are assuming that if they lost a significant amount of btc they would be able to cover the loss with their btc profit (which is assumed to be substantial)
The pastebin from earlier starts right after those.
How long the above rumor has been circulating who knows, it would explain the transition from goxbtc going from a premium to a discount two weeks ago. That much makes sense.
But what does not make sense is if withdrawals were automatically reissued, then doesn't that mean everyone would be getting a double credit to their wallet, malicious users and innocent benefactors combined?
Call me old fashioned but I find it hard to believe that nobody who was the unintentional recipient of a double credit in the last few months didn't mention this to gox. It's been going on for a while and not everyone is dishonest. And what about all the posts from gox customers saying they didn't get their btc? Were those users lying?
What am I missing?
Please refrain from goxsux and markhurt comments.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
According to i286 ticker, ask sum is approaching 60k coins. Is that accurate or is the API screwed up again?
Does that page add up asks on multiple exchanges? I just did it manually with MtGox, Bitstamp and BTC-E and got at least 69k. On MtGox, it's 33k right now.i286 has been wrong IMO since the 2nd correction from the china news. If it is doing a combined sum from all the exchanges then good, but then again that's not good putting it on a page along side metrics for gox only data.
www.blockchained.com order book 15 days chart is on the money I believe, it agrees with the summary here http://www.cryptocoincharts.info/v2/pair/btc/usd/mtgox/10-days
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Whoever made the move - put that 870 wall in to put a little lid on it...
A few coins to take the world markets down this much is cheap for a manipulator.
But the market is way bigger than this move.
People will not want to sell at much below here, but they will want to buy.
HOLD.
A few coins to take the world markets down this much is cheap for a manipulator.
But the market is way bigger than this move.
People will not want to sell at much below here, but they will want to buy.
HOLD.
The 621 coins that were at 870 were pulled after about 15 coins were bought into it. These coins mysteriously appeared when the 621 coins that had been at 915 for quite a while disappeared.
I call a bear trap.
EDIT: On gox
What do you know, 600ish odd coins at 850 were pulled when the price got within $5
It would be nice if someone took them off their hands
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Whoever made the move - put that 870 wall in to put a little lid on it...
A few coins to take the world markets down this much is cheap for a manipulator.
But the market is way bigger than this move.
People will not want to sell at much below here, but they will want to buy.
HOLD.
A few coins to take the world markets down this much is cheap for a manipulator.
But the market is way bigger than this move.
People will not want to sell at much below here, but they will want to buy.
HOLD.
The 621 coins that were at 870 were pulled after about 15 coins were bought into it. These coins mysteriously appeared when the 621 coins that had been at 915 for quite a while disappeared.
I call a bear trap.
EDIT: On gox
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Okay opinions aside on the merit in comparing the bid and ask sum, i286 is reporting a different number ($38.2M bid, B41.6K ask) from blockchained (~$34.5M / ~B34K).
What's the authoritative source?
This was posted earlier, way off, maybe a typo? Or is it in a different currency?
What's the authoritative source?
This was posted earlier, way off, maybe a typo? Or is it in a different currency?
Just on MtGox we have $60m in bids....$60k in asks.
I believe it is easy to manipulate the price upwards with low buy volume but try to drop the price by selling...
I believe it is easy to manipulate the price upwards with low buy volume but try to drop the price by selling...
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Bitcoin, why u do this to me? 
Welcome to the club.
Please take a seat in one of the many dark corners. Please ignore quiet sobs coming from the other members.I haven't accepted my losses, though, so I am all fiat still, trading a little on the ebb-and-flow inbetween.
I've lost 4.5k and it's now on the level I would be 1-1.5k at loss.
But fuck it, that's why it is fun, there's still lot more good moments than bad
Guys. If I had just hold all the time I would be a multi millionaire, in dollars, today. Just saying.
Sorry to pick on your post, but I've been meaning to say words to this effect for a while.
You would only be a theoretical multi millionaire (in dollars) if you had just held.
BTC owners will eventually sell, whether it be to cash out (ie, I want to realise some of my profits now, or limit my losses), or they want to panic the market.
It is people who have a healthy balance of BTC and cash in their trading account that actually support the price when new money runs out. It's not all about how many coins you have, but what are they worth. This point may very well be lost on a lot of people.
I don't recommend trading unless you have a well thought out and tested strategy, but it ain't rocket surgery.
PS: Love your work rpietila
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
$900k bid wall at 950 on bitstamp
With people using mBTC and BTC, it's probably better to quote the size of the wall in BTC not $. So it would be a 900ish BTC bid wall. I thought you were talking about 900k mBTC for a second there.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
What's the deal in Aus anyway? How do they even know the money you recieve is Bitcoin related, or how long you've owned those coins (assuming the over one year - 50% cap gains applies)?
well you know we're all spied on these days, actually the bank could possibly notify the tax office if money comes from an exchange - the strange thing is we don't pay tax on winnings from lotteries or gambling, you'd think high risk investments would fit into that category.
The reason why in AU we don't pay tax on lottery or gambling winnings is because our lottery or gambling costs would be tax deductible if so.
Regarding capital gains tax, I believe that the tax you pay is the same as if it was part of normal income. So you would only pay near 45% if you were already earning over 180k. It is an honesty system, you are free to not declare, but audits are not fun, the presumption of innocence is reversed. You have to prove you are not guilty, not the ATO having to prove you guilty.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Big money wants in, big money still uses gox and gives zero fucks about Goxbux, they just want coins.
Lies,
No new money would use Gox. This is old fiat, with cobwebs on it from Gox's cellar.
The bid sum is at a record high, I suppose it could be that this is because money that wasn't on the table now is, but I think it is unlikely.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Is it just me, or are "posturing" walls that get pulled quickly when they are at risk of being eaten much more rare these days than they used to be?
Ask walls in a bullish market represents a great way to avoid slippage for big buyers
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Does anyone know if it takes just as long to get goxbux out of gox/AUD?
is it only Us dollars which are the problem? or does that extend to Australian goxbucks too?
is it only Us dollars which are the problem? or does that extend to Australian goxbucks too?
I have a friend who initiated his withdrawal about 7 weeks ago, AUD in his account to an Australian bank.
I told him to just buy back in 2 weeks ago but he really needs the cash.
Does anyone have any knowledge of how long swift transfers take from stamp to AU?
And in case anyone is thinking, my friend is not me, I am 100% in BTC.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
There must be something wrong with i286's bid sum (12.7M) & ask sum (5800B). Roughly half whats on the blockchained chart
http://www.blockchained.com/depth_mtgox_15d.png
http://www.blockchained.com/depth_mtgox_15d.png
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
what about that 2000 coin ask at 385 that has now disappeared? it didn't look like it would get bought up tonight at the slowish rate (in comparison to the last week) we are moving at. but why was it there? what was the seller trying to do, if anything? why did he take it down now? sum ask still around the same level though
It got moved to 400
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
ANyone know if withdrawls are still working on gox
I initiated a small test bitcoin withdrawal 20 minutes ago and it submitted but the page is stuck on "withdrawing". I don't think the website can talk to the database.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
My money is on a hardware failure and their failover hasn't worked due to it all being new gear and not properly tested.
I think they have have taken the website offline to stop new orders.
Edit, no it's back up
I think they have have taken the website offline to stop new orders.
Edit, no it's back up
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
So i thought Gox said they were immune to ddos when they got on the Akamai network?
The problem might be to do with their backend, the website is up. It's like the trading engine is off.