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TinyUrl.com/About BITCOINS : DATA, Trading and Price Dynamics

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Big Apple bit: New York to introduce regulations for bitcoin transactions

 

New York’s financial regulator will adopt rules to govern virtual currency firms with a view to combatting money laundering. The move comes in the wake of a series of hack attacks that have halted bitcoin transactions across the globe.

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Another blow to Bitcoin: http://www.scmp.com/comment/blogs/article/1427678/scmps-bitcoin-daily-report-dark-twist-silk-road-2

 

" Silk Road 2, the second incarnation of the online black market, has informed its users that its entire holding of bitcoin has gone. The heist of 4,476 bitcoins is worth US$2.5 million at current market rates. Silk Road 2 is blaming “transaction malleability”."

 

Quite frankly, unless and until crypto currencies can overcome issues like this (and Mt Gox etc etc), there is very little hope that any crypto currency will gain widespread acceptance. And the more problems there are, the longer and harder it will be to make it happen and the more excuses regulators/governments will have for either banning their use or regulating them to the point of impracticality.

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Yeah.

 

It's one thing losing money to risks you understand.

And much worse losing money when hit by risks you do not understand, and did not expect

 

Some will think "transaction malleability" means... we stole it !

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Top Bitcoin Exchanges

+ CoinBase : Good in US, not oustide US. : http://Coinbase.com
+ Bit Stamp : Most vol., post MtGox probs : http://Bitstamp.net
+ BTE-E -- : Trading various cryptos........ : http://BTC-E.com
+ Cryptsy - : Trade "every" crypto ........... : http://Cryptsy.com
+ BTer ----- : Many C's, Fast. Low volume : http://BTer.com
==========
> source: http://www.heavy.com/tech/2013/12/best-buy-trade-bitcoin-website-sites/

====

Lots Of Major Bitcoin Exchanges Are Under A 'Concerted And Massive Attack' Right Now

Dylan Love / Feb. 11, 2014

Andreas Antonopolous is chief security officer at Blockchain.info, a popular Bitcoin wallet service, and he tells CoinDesk that numerous Bitcoin exchanges are experiencing a "massive and concerted" denial of service attack right now.

This is a type of attack on one's digital real estate in which nefarious hackers bombard servers with junk requests over and over until they become useless. It's akin to filling a glass of water until it overflows.

In Antonopolous' words: "As [bitcoin] transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there."

In other (simpler) words: this attack may cause Bitcoin to behave weirdly.

He added that no money has actually been lost, as exchanges halt withdrawals as needed in order to keep everything synchronized. One exchange affected by the attack, Bitstamp, sent an email to its customers to that effect.

Antonopolous predicts things will be operating normally in between one and three days.

The attacks come on the heels of popular Bitcoin exchange Mt. Gox having to halt a number of its exchanges as customers withdraw their money and even go so far as to protest outside the company's offices in Japan. Bitcoin's price has taken a big dip since.

Bitcoin is currently sitting at ~$670.


Read more: http://www.businessinsider.com/bitcoin-exchanges-under-attack-2014-2#ixzz2tJ8tzoeQ
==
> source: http://coinmarketcap.com/

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Continuing problems at Mt Gox, down as low as $220 today;

 

MtGox_zps08b61bf3.png

 

I can't find any news regarding the reason for the continued drop, I guess people are just panicking now. Price on Bitstamp is $623.

 

EDIT: Seems some people on Reddit think Mt Gox just got hacked. Oh dear.

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Clif High thinks mtGOX may ultimately deliver - he does not think they are dishonest, just ill-prepared.

 

But that is no guarantee, if you buy there

 

Link : http://halfpasthuman.com

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TRADING Prices - MtGox versus Bitstamp

 

MtGox - 2 mos

BTC_2mo.png

 

Bitstamp - 2 mos

BTS_2mo.png

 

BTS - 10 days : http://tinyurl.com/BTS-10d

BTS_10d.png

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MtGox has become irrelevant for those who want to know what is really happening in the Bitcoin Market

 

"A filing for the Winklevoss Bitcoin Trust was first submitted in July 2013.

Perhaps, most notable of the changes was the inclusion of Winklevoss Index – or Winkdex for short – into the document.The new blended bitcoin price index from Winklevosses’ Math-based Asset Index LLC will be used to determine the value of the bitcoins in the ETF.

Previously, the price was to be based on “a weighted average of the average of the high and low transaction prices” on three major exchanges, Mt. Gox, Bitstamp and BTC-e.

Released on 19th February, the tool is designed to reflect what the investors believe to be the “true price of bitcoins”.

. . .

Average prices on LocalBTC (localbitcoins.com) were listed at around $760 on the site, for example, while pricing at troubled Mt Gox stood at just $262, at the time of writing. The Winkdex pegged bitcoin at $628.

The Winkdex joins CoinDesk’s own Bitcoin Price Index, launched last September, which has a clearly defined set of rules outlining which exchanges it supports.

Like CoinDesk, MBAI has disqualified Mt. Gox from inclusion in its index. It attributed this to the recent freeze in bitcoin withdrawals, in addition to its backlog of US dollar withdrawals.

> WINKDEX : http://www.coindesk.com/winklevoss-bitcoin-etf-revisions-reflect-consumer-protection-concerns/

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(with this, we may be getting close to a final wash-out):

Bitcoin Prices Slide After Mt.Gox CEO Resigns From Foundation Board

picture-5.jpg

Submitted by Tyler Durden on 02/23/2014 23:42 -0500

 

In what appears yet another straw on the camel's back of Mt.Gox (following the re-freeze of account withdrawals), the Bitcoin Foundation this evening reported that:

 

Bitcoin prices on the dying exchange tumbled on the announcement after quite an extreme volatility day - which saw prices swing from $151 to $239 and then down to $190 on the news.

"effective immediately, Mt. Gox has submitted their resignation from the board of directors."

 

20140223_btc_0.png

 

Via The Bitcoin Foundation,

There is still no further updates on when Mt.Gox will resume withdrawals.

Mt. Gox Resigns Bitcoin Foundation Board Seat

 

Jon Matonis Feb 23 2014

 

Effective immediately, Mt. Gox has submitted their resignation from the board of directors. We are grateful for their early and valuable contributions as a founding member in launching the Bitcoin Foundation. MtGox Co. Ltd. (Japan) held one of the three elected industry member seats.

 

Further details, including election procedures, will be forthcoming.

 

==

> more: http://www.zerohedge.com/news/2014-02-23/bitcoin-prices-slide-after-mtgox-ceo-resigns-foundation-board

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Given the demise of Mt Gox (more than 700,000 Bitcoins lost), it will take a lot for crypto currencies to stage a meaningful comeback: http://www.bloomberg.com/news/2014-02-25/mt-gox-bitcoin-exchange-goes-offline-as-peers-lash-out-at-firm.html

 

Makes fiat currencies look respectable :-(

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Bitcoin on Bitstamp is already making a nice bounceback

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"16 Places to check Bitcoin market data [part 1]


Any good Bitcoiner is always on the hunt for new information about the market, especially if he or she is interested in trading and making some money out of it.

Bitcoin Examiner wants to help you in this mission, so we bring you the first part of a list with lots of Bitcoin market data."

 

http://bitcoinexaminer.org/16-places-to-check-bitcoin-market-data-part-i/

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Charts from https://blockchain.info/

 

 

Number of unique bitcoin addresses used (1 year)

Bitcoinuniqueaddresses_zps849567d2.png

 

 

 

Market price (1 year)

ea5413918a_zps62050f57.png

 

 

 

 

 

Ratio of trade volume to transaction volume (2 year)

TV_zps71a9c623.png

 

Market price (2 year)

Price_zps93751f18.png

 

 

 

If you look at the 'Ratio of trade volume to transaction volume' chart relative to the 'market price' chart, it seems as though the ratio dips after a spike in market price indicating a low in the market price, hence a low in the ratio may be a useful buying signal.

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