Hello all,

I think that the most relevant factor to the BTC price today is the same factor that (I believe) has impacted all risk-related markets worldwide - China's decision to tighten up credit in corporate and local government debt. There are a number of major geo-political risks rattling out there (oil plunge, US dollar rise, China's debt-fueled growth and EU's debt ridden PIGS).

My guess is that BTC COULD benefit if one of these risks goes into full-on meltdown mode. On the other hands, if Central Banks can calm markets and slather on some more QE, stocks could keep rising (taking away from BTC's safe-haven appeal).

Relevant:
http://www.bloomberg.com/news/2014-12-09/china-s-rate-swaps-surge-most-since-june-2013-as-bonds-tumble.html
http://www.reuters.com/article/2014/12/09/china-debt-regulations-idUSL3N0TT03T20141209

Ahh the welcoming embrace of online forums!

I am interested to see whether the "Bitcoin Bowl" will have any impact this Friday.

http://stpetersburgbowl.com/

Anyone have any thoughts on Today's Bitcoin Bowl?

I see it as an opportunity for startups and the Bitcoin community to distribute tons of coins and get attention. It would have been wise for Bitpay to give every person in the stadium some coins. I know that there are a number of people and brands that will be dishing coins out over Twitter.

IMHO, 2014 has seen a ton of merchant adoption and hype - but bitcoin distribution and casual transactions are where the near-term Bitcoin opportunities lie. These take advantage of Bitcoin's unique properties better than using fiat to buy BTC just to buy things that can be bought with fiat (overstock, MSFT games etc).

I was wondering which exchanges people around here focus on when watching BTC charts. The Chinese exchanges seem to have the most volume (OK Coin, Huobi).

Huge volume on OKCoin.


It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.

$275 is being tested - major area of resistance here.

This could get bloody - or we are in for a bounce soon.

Did the bearwhale flash crash happen on a weekend? I forget

Could be a double bottom... we will have to wait for confirmation on higher time frame - 4H, 12H 1D

I get the feeling that some serious tectonic plates are moving in the world - Oil is acting crazy, the USD had a very bold move in the last few trading hours on Friday, and stocks are very volatile in last December (which is usually chill Santa Rally time).

I am not sure if BTC will fall into the "risk asset" bucket and get dumped along with risky assets, or if it will be considered a safe haven due to financial instability in places such as Russia, Turkey, Greece etc...

Crazy volume on BitFinex. Interesting 1H close - nice bounce off 275... but its still early, bears may try to crack that nut one more time.

lmao

At least its not boring like all of December's sideways action.

This 255ish area SHOULD be a major battle ground. If we have a daily or weekly close well below that area (the previous ATH), this would be a pretty significant break of a major support IMO.

So far we have peeked underneath, but the question is whether we will see a clean and decisive break.

I see wicks peeking under that level. I need to see a solid red candle close well under 255.

OKcoin and Bitfinex have some volume coming in...

Meanwhile - the EURO opened on Monday (in Asia) at the lowest point in 9 years... It feels like tectonic plates are shifting in the financial markets outside of Crypto.

http://www.ft.com/intl/cms/s/0/b94dcf2a-9475-11e4-82c7-00144feabdc0.html?siteedition=intl

lol interesting summary.

The BitStamp news is very interesting....

It's odd that the price has not reacted at all. There is even some light buy volume on BitStamp.

Crazy days.

Maybe someone stole BitStamps hot wallet coins and dumped them all as quickly as they could - causing the latest price collapse?

Informing your customers that there is a problem with the hot wallet and that deposits may result in private keys being lost is one very risky way of halting a crash. Who knows... It is just strange that the price is taking all this in stride.

True.

Has it been confirmed that the 18K coins were in fact stolen on the 4th of Jan like Stamp claims?

I am just wondering if the sell-off over the last few days was related to the theft... Perhaps someone stole these coins and began to dump immediately to get rid of the stolen BTC and move into Fiat. Just a theory.

From Reddit - https://www.reddit.com/r/BitcoinMarkets/comments/2repff/bitstamp_exchange_issues_megathread/cnf6gdp

user baron1703 wrote:

Observations:

Known Bitstamp cold storage: https://blockchain.info/address/1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEa

Suspicious address: https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

Transactions started to appear in the suspicious address after 1am european time on 04.01.15. The first transactions had fees of 0.55 and 1 btc, respectively. These continue thought the day with fees of around 0.1btc. First complaints of deposit issues started during the day. Stamp sent out an email the NEXT day, shortly thereafter suspending its site.

As can be seen here (http://www.walletexplorer.com/wallet/6e20c5b8ebb819c7?from_address=1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf), the transactions coming into the 1L2JsX address are from bitstamp addresses (note that this page is not real time, so not all new transactions are displayed).

The cold storage address mentioned above was not touched since mid december. The first new transactions in this address appear at around 10pm european time on 04.01.15. This appears to be a sweep of hot wallet addresses and brings in about 10k btc. Notice the specific structure this sweep transaction has (example: https://blockchain.info/tx/c84a1b8e7aaeae81cf3a1db7e37fdd6befbedafb4213338f412c6981b9469553) - a round amount is swept to the cold storage, an arbitrary amount is put in another address where it is combined with other inputs and swept again. This pattern is not observed in the 1L2JsX address. Furthermore, fees in the cold storage address vary from 0.0001 to 0.001, depending on size - again, unlike the 1L2JsX address.

IF the 1L2JsX address indeed belongs to a hacker, bitstamp COULD be missing 18,865btc, with the remaining 134,872btc in its cold storage wallet. It appears that only these two addresses have been used for sweeping. This would imply a loss of 12% of all held bitcoins.

One of the bitstamp founders (https://twitter.com/nejc_kodric) tweeted: "To restate: the bulk of our bitcoin are in cold storage, and remain completely safe." Interpret that as you will.

IF the 18K in BTC has been lost, I wonder what Stamp will do. 18K=$5M dollars or so.

They can either cover the loss with the $10M in VC money they raised in Dec of 2013, or they could force their users to eat the loss (though that would effectively destroy their reputation, killing the VCs investment).

My guess is that they are on the phone with their VCs trying to decide what to do (their $10M round was funded by Pantera Capital). I bet that heads will roll (New CTO or CEO), the company will likely eat the loss, and the funds will be replaced with their VC money. Perhaps they will drop the price some more so that they can buy up cheap coins to replace the 18K they just lost.

It seems like the $5M question is whether Stamp has spare BTC to cover the loss, or do they have to buy some of those 18K btcs in the market to return back to their users.

If they make everyone whole and swallow the loss, I wonder how Stamp users will feel? Do you switch because they were hacked, or do you stay loyal because they made everyone whole even after they fucked up. I mean shit happens, its nice to know that they are willing to take a hit to preserve their users' funds (like Blockchain did when some of their wallets were hacked).

My guess is that this is because:

a) People are relieved that Stamp said they will honor their user's balance and eat the loss with reserves (first GOX-like event that is handled professionally)

b) Speculators are betting that Stamp will have to buy 18K in the market to cover the lost coins

c) Bitcoin is upside-down crazyland where up is down and left is right (though I have experienced this in other markets too)

BitFinex just had some volume move in...

lol

lol

I had a similar reaction when I read that. When something needs to be rebuilt from the ground up because it was unsecure, it does not inspire a great deal of confidence in those who built it initially, and are now rebuilding it.

My thinking is that if I was holding fiat on Stamp, I may consider buying BTC as soon as they re-open, then withdraw them to safety asap. Fiat takes a long time to withdraw, and there will likely be a huge flood of people looking to get their fiat out of stamp. A coin withdrawal may be the fastest way out for those who lost faith in Stamp.

But really, who the fuck knows. We will see if they open Stamp back up in "24-48 hrs".

This rally above 300 suggests that traders are expecting some buying pressure. I would FUCKING HATE MY LIFE if I was heavily leveraged short via Stamp right now (thought I must admit I never used Stamp, so I have no idea how that would look/work).

I was wondering about that. Like I said, I have never used Stamp, but it is my understanding that you could short via some weird 3rd party manner. Leverage or not, I would hate to be in a short position via Stamp and be locked out of the market watching us breach 300.

As an aside - what site/source do you fine gentlemen use to see the level of short positions currently open?

For those wondering, this is the change that Pantera's CEO made to his profile on Pantera's website.

https://panteracapital.com/about/

DAN MOREHEAD
CHIEF EXECUTIVE OFFICER

A day ago it was

DAN MOREHEAD
CHIEF EXECUTIVE OFFICER & CHAIRMAN OF BITSTAMP



It is funny because Pantera is both a VC firm and a Hedge Fund that is heavily long BTC. So this Stamp story is a double whammy to their reputation and to the price of their reason for being - Bitcoin.

What do you use to track this #?

China should be waking up around now. Lets see if they can rattle BTC into some kind of movement.

1 hr chart on OK coin:

I believe that a lot of Fiat currencies are in for trouble in 2015 - Russia, The Euro, Turkey, Argentina, Russia's satellite states (such as Belarus) and even some Asian currencies mixed up in the devaluation currency war between China and Japan.

But of all the currencies out there, I think the USD has the biggest chance of thriving. The US has the biggest economy, it has the most advanced military, it has the rule of law, it has a crap ton of food/resources and it has a strong, dynamic and growing economy.

Think about this - where would you want to keep a couple million dollars for 5 years? In China it can get confiscated, Japan is a QE freakshow with a declining population, in Russia your fate is tied to Putin and Oil, the Eurozone is about to go through some serious shit with Greece again, and most other places (except for the tiny nation of Switzerland) are a complete gamble. I don't get all these "US dollar will be worthless" people. The USD is the safe place to keep big pools of $ long term - bearing any major unexpected political or social black swan that knocks America down a peg or two.

The people who need BTC aren't Americans, its those poor bastards buying toasters and flatscreens to try to save their quickly depreciating savings.

Just my 2 cents.

It's funny that they re-open as the banks close for the weekend.

This may be a play with Pantera et al to make back some of their $5M by trading the re-opening or something. Keep in mind that Pantera also happens to be a hedge fund that is heavily long BTC...

We're coiling again....

That's the million dollar question  

Calm before the storm... eerily still considered the last 48 hrs

Can someone explain these "four punch raids" or point me to where this is outlined?

I think I know what this is referring to, but I am not 100%.

When I see the data regarding shorts, I see the past 1 hr and the past 24 hrs - is there anywhere that shows that overall short vs long leverage positions?

Thanks!

Yeah, whats up with that?

Huobi's website is up... anyone actually trading on there - can you confirm if the site's trade engine works (meaning the Bitcoinwisdom stall is just an api issue)

 Besides Bitcoin Wisdom, what are some good sites for looking at the order books on the major exchanges?

Awesome. Thanks!

Here are a few perspectives on the Swiss Franc situation:

http://www.telegraph.co.uk/finance/economics/11349479/Switzerland-capitulates-on-franc-as-global-currency-wars-take-next-victim.html
http://www.nytimes.com/2015/01/16/opinion/paul-krugman-francs-fear-and-folly.html
http://www.economist.com/blogs/buttonwood/2015/01/currencies

Regarding the Swiss Franc - I think that the event is further evidence that there are some serious tectonic plates shifting in the financial markets. Oil is going nuts, the Eurozone has a serious deflation and unemployment crisis (along with a number of acute events on the horizon - ECB QE decision and Greek Election), China's slowing down while it experiences a weird stock market bubble and Japan is running an unprecedented monetary experiment in the hopes of ending a decade of deflation.

The question is whether Bitcoin will be considered a Safe Asset due to the fact that it can't be controled by a central bank, or will it be lumped into the "risk asset" category and go down with oil and stocks...

I think that it will depend on what financial events happen over the next 6-12 months, the status of the Bitcoin ETF and of course the broader adoption of Bitcoin (or something built on Bitcoin) by average consumers.

History has a lot of lessons on the dangers of deflation. Many people intuitively see prices declining as a good thing - cheaper food etc.

But when prices go down too much, there are a number of serious dangers:
- Debt levels go up in real terms (and most people/companies are in debt)
- Companies don't invest in new projects because they think prices will keep dropping
- People don't spend as much on big ticket items - also expecting prices to be lower in the future

Exactly! System works, everyone wins!

Bitfinex flat on Bitcoinwisdom - is the API just down or has trading ground to a halt?

Volume...

Serious thrashing going on... decent volume too..

Will they or won't they - It's basically Ross & Rachel all over again..

Price has flatlined since the Coinbase announcement pop.

OK Coin

Coiling we are.

I was also listened to that chat live - I agree with you.

Chinese exchanges are creeeping higher. 1330 and 1350 are big horizontal resistance levels that have been tested a great number of times over the last few days.

lol

What's up with OKcoins order book on BitcoinWisdom?

Chiming in on the Greek situation.

One of the interesting things I have learned over the last few days has been how the bailout money was actually used.

Just like in 2008, the bailouts were designed to prevent a broader financial panic involving the banks. Of the 230 billion euros that Greece received, only 11% actually stayed in Greece to finance government activity. The rest was used to pay back old bondholders (mainly Greek and European Banks) and make interest payments.

Instead of defaulting 5 years ago, the Greeks were strong-armed into a bailout designed to prevent panic. Then the crisis spread to other countries, and the EU has muddled through from one crisis to the next for 5 years. After losing 25% of GDP, a chronic unemployment rate above 26% and with debt at 170 debt/GDP ratios, the Greeks are screwed and, more importantly, they have nothing to lose. They either default and possibly leave the Euro, or they stick with the horrible depression they have been in for 5yrs.

The difference is that if they default today, German and Italian banks will not take a hit, BUT if they default (and especially if they leave the Euro), the financial and political ramifications are impossible to predict. It could be the EU's Lehman moment.

I am surprised that the Germans are letting this get so unpleasant. The amount the Greeks want is nothing compared to the strategic importance of Greece as a NATO ally. They must be seriously worried about the signal they would send to Spain and Italy if they agree to let Greece write off some debt. The political environment in Europe is turning against Germany - the real wild-card in this situation are Austerity-weary voters.

Source for the bailout stats (Martin Wolf of the FT)- http://www.ft.com/intl/cms/s/0/44c56806-a556-11e4-ad35-00144feab7de.html#axzz3RNvpcnSg

Coiling feeling...

In my experience, such lines can be tested like this without completely being broken...

Let's see if we can get a couple solid closes below the trend line (if we get an stay below 1440 IMHO).

Until I unveil my brilliant plan.

Airdrop Bitcoin ATMs that only accept Drachmas and Euros all over Greece!

You heard it here first folks. (jk)

In all seriousness, the Greek situation demonstrates how important Bitcoin COULD be. There is a nation of 11 Million people who may soon discover that their chequing accounts are part of a high-stakes game of poker between Angela Merkel and Syriza.  

There is a 5-15% chance that the Greeks leave the Euro in 2015  and are forced into converting to Drachmas (IMHO). Greek savers will collectively lose Billions of dollars in buying power if that happens.

Most people don't worry about Capital controls, banking panics and access to their life savings until they are faced with a major crisis, and then people make emotional decisions.

That being said - the Cyprus Pump was probably not caused by Cypriots buying BTC hand over fist, and if we get a Greek pump, I doubt that much of the volume will come from Greek people. It is more of idea that the Market recognizes such events as damaging to the present financial system (which has only been in place for 40~ years). It is the same reason Gold may rise if there is a "Grexit" - 80% speculation, 20% increase in real buying. This last paragraph is 90% my biased opinion - as is most of this post lol.

Greece's biggest problem is that it is insolvent. It a 170% Debt/GDP ratio. It actually has a current budget surplus (government revenue is more than spending) - but the interest and debt burden is killing them.

This is why it is so fascinating. The most logical thing for them to do is to default HARD on that debt, start from a clean slate, and we will all be vacationing in Greece next year due to the affordable prices. The Greeks are already in the worst case senario, it can't get much worse economically - the only place where it can get worse is that the Greke population may take a haircut on their savings by converting to Drachmas. If I was in charge of Greece, and I was brave enough, I'd default.

Greek deal is reached (apparently - though we have had many false starts). Bitcoin is flat... interesting.

I guess they capitulated when they saw how close their Banks were to complete collapse (1Billion Euro Deposit flight today). That, or they threatened their families lol.

Though this isn't over until its over. I would not be surprised if the Greeks throw a curve ball - maybe deliver some watered down version on Monday and we are back to "he said she said".

Most compelling TA I have seen in a long time.

Credit fomocoin.com

How do you know it will be 2 weeks until the pink sheets start?

Bitcoin loves to coil....

http://www.otcmarkets.com/stock/GBTC/quote



GBTC is going to be the world's first publicly traded Bitcoin fund. Barry Silbert launched this thing in 2013 and they found a sneaky backdoor to putting a "Bitcoin fund" on a public exchange by publicly selling shares that have been held for 12+ months on an "Over the counter" market (not a top-tier one such as NYSE or NASDAQ). It is not officially an ETF (which is what the Winkle Twins are going for on NASDAQ), but it functions in much in the same way (with pretty hefty fees might I add). Effectively, each GBTC share is worth 0.1 Bitcoins, and it is set to start trading sometime this week, or so we are led to believe by Barry Silbert's Twitter account.


http://pando.com/2015/03/02/barry-silberts-bit-wins-the-race-to-become-the-first-publicly-traded-bitcoin-investment-vehicle/

What you are saying makes sense. This is a weird moment, especially because GBTC may start trading any day/minute lol. You would think that Barry Silbert and the guys behind this thing would have had some of their own shares to kick this thing off - its like a weird Bitcoin IPO in the back alley.

My apologies. In that case, this may explain things a bit better.

It has been coiling for a while now...

My feeling is that we are waiting for clarity on GBTC. It either goes live and we jump, or we get another "two week" ETA from Barry Silbert and we tank to test 220 & below...

But hey, wtf do I know?

BTW... my last post was removed for some reason... not sure why.

I agree with this statement.

+1

lol

This GBTC thing has been interesting/funny to watch. People buying an illiquid BTC proxy at 2x the underlying value...

As far as I understand it, GBTC is interesting because it is the first "BTC tracking" security on public markets (meaning that anyone can theoretically add BTC to their IRA, Pension fund etc).

That being said, it has been a pretty amateur-hour debut - with low volume, high spreads and a price that is 2x the underlying value (each share of GBTC is backed by .1 BTC). The only way that GBTC can get more Bitcoin into the fund is if accredited investors buy GBTC shares directly from the company that manages the fund. The only way that more GBTC shares can make it to the Over-The-Counter market where it trades is for the shares to be held by these accredited investors for at least 12 months, then deposited with their broker and traded.

It seems that there exists a ridiculous arbitrage for those who hold GBTC shares that are 12 months or older (sell for $49 - $490 per BTC effectively - then buy more GBTC shares directly from the corporation @ roughly 24.30 + fees). Yet, no one appears to be taking advantage of this for some reason (perhaps there are not enough 12 month old Holders)...

If this was a regular ETF, the manager would buy/sell a large pool of BTC to accommodate the inflow of $ as people buy and cell the ETF (just like any ETF).

Look at the vol on GBTC today... over 16,000 vs yesterday's ~300

http://www.otcmarkets.com/stock/GBTC/quote

Can someone point me to some more info on this Bitfinex hack?

Thanks

Hahaha - I had to look up what that was Fatman...

"Drone Boning"

Now I have seen everything.

Regarding BTC price... I think that there is a chance that Greece's drama may influence our little crypto coin this week.

http://www.telegraph.co.uk/finance/11673989/Syriza-Left-demands-Icelandic-default-as-Greek-defiance-stiffens.html

If Greece goes the way of Iceland, things will escalate real quick in Europe's financial Markets. Germany & France may take a bath to the tune of 160 Billion.. no one knows how that would play out.

everybody remain calm.



Perhaps it is these talks of capital controls in Greece... Capital controls have been inevitable for weeks.

http://news.forexlive.com/!/eurozone-countries-ready-capital-controls-for-greece---german-press-20150615

Indeed - capital controls would be a rude awakening for the Greek people (though it is almost a Mt Gox situation - if anyone has any significant amount of Euros in a Greek bank, what the fuck are they thinking?).

Capital controls are a great ad for the value of BTC - I bet that traders are positioning for this in case BTC has a reaction similar to the Cyprus Pump.

This has been an interesting pump. I wonder if it has another leg left in it.

Watching 250 on BitFinex and 1600 on OKcoin like:

Is Huobi messed up on Bitcoin wisdom for everyone?

Flat lined for me.. what's up with that?

Thank you.

BitFinex looks like it wants to test 250 again.

OKCoin feels a bit heavy.. but if Finex goes, OK should follow.

OK coin having problems... 502

Anyone else seeing this?

EDIT - seems to be back now

Yeah OKCoin is having trouble again.

It keeps having 522, 520 and 502 errors.

EDIT - It is back, but I am not convinced yet.

1550 Should be interesting on OK...

It may not be Grexit related... but it sure would be a funny coincidence.

The real question is whether the price rise is driven by honest-to-god Bitcoin demand due to the Greek situation or whether it is just traders/whales expecting another Cypress-style rally. Then again - does it really matter?

I'm curious to see if we have another move higher today/tonight.

Not a TA "advocate"... but I have found that it is important to pay attention to markets at certain (very basic) support/resistance levels. I mean, if you are trading - how else do you get in/out with sensible Risk/Reward?

Ahhhh..... I knew I was doing this shit wrong. asdkjahskdgakfjb

It will be a wild week.

I wonder if the recent weakness in BTC over the last few hrs may be related to the ubber strength in USD (forex opening right now - with Japan waking up in 2-3 hrs and EURUSD gapping lower 150+ pips). I would have thought that the official announcement of Capital controls would be worthy of a pop.

The EuroZone is fundamentally flawed IMHO and if they mess up this week - it could be a fatal body blow for the single currency (good riddance, but it will be painful).

May be relevant...

So WikiLeaks came out with another flop.

Turns out the US & UK were bugging German and French leaders (nothing new here).

Also turns out that Merkel, Hollande and Schuable do not see eye to eye on how to sort this mess out (yawn).

Is it just me, or has WikiLeaks become incredibly irrelevant of late? They were probably sitting on this waiting for an opportune time to release it in an attempt to get some press.


EDIT - Original Link (there are a number of related Tweets) - https://twitter.com/wikileaks/status/616298312585625600

PS - how does one embed Tweets in this forum?

Hmmm... maybe I judged too quickly.

I guess I was hoping for a bomb-shell that would mix things up a bit... not a restatement of facts/sentiments we already know.

IMHO - The reason they want to keep Greece in the EZ is because it could damage the currency project in subtle, but powerful ways. It proves that membership can be reversible in times of crisis (hedge funds will press hard on the next country in trouble), it clearly shows the juxtaposition of national sovereignty & currency union and if Greece leaves and does well - more fuel for the Left wing in Spain, Italy, Portugal and the far-right in France.

Overall - it is a scary unpredictable thing.

The Euro, much like our beloved Bitcoin, is a monetary experiment, but unlike BTC (hopefully) it was poorly designed from the outset. It was supposed to create unity & growth, and it has done the exact opposite. An exit could be the first step in dismanteling the whole house of cards, and as the 2nd (3rd?) biggest reserve currency in the world, a collapse in the Euro would have ripple effects that no one can predict (hence the comparison to the Lehman's moment).

I think about BTC and Greece far too much lol.

EDIT - changed the wording because it previously made it seem like I was suggesting that BTC was poorly designed.

Speaking of Bitcoin - lets see if we can hold on to 260 this time..

The correlation with the Litecoin pump is intriguing (somewhat concerning... unless they take it to 8-10+).

If that was referencing my comments - I read it over and I realized it sounded like I was saying that BTC was poorly designed just like the Euro - that was not my intension and I have since edited my comment.

Specifically - I think Greece has failed because it is a fundamentally stupid idea for 19 very different economies to share 1 monetary policy. This is why the Euro will fail in the long run IMHO

Bitcoin on the other hand is a different animal entirely... though it is still an experiment that may well fail or get eclipsed by some other innovation.

+1

Most of the violence is happening on OKcoin...

1550-1560 is a big level for the bulls to defend.

I also get the feeling that OKcoin gets messed with as it approaches Thursdays Futures expiration. Perhaps some whales use the spot market to manipulate Futures prices as they approach settlement..

Crazy day...

I feel like there are a lot of lurking dangers out there coming from all angles.

- Chinese stocks are in free fall mode, despite the governments best efforts (making them lose credibility).
- Greece is being pushed out of the EuroZone unless a miracle occurs by Sunday
- Puerto Rico is defaulting
- NYSE has a weird "glitch" at the same time that United and WSJ have technical problems

And worst of all, we smug Bitcoiners have a bloated blockchain with 80,000 txn sitting in the mempool.


That being said, we may be at a near-term peak in bearishness, and a positive development on any of those fronts may give us temporary reprieve... though I think there is also a risk that we get a strong risk-off move in the next few days/weeks/months that may lead to a correction.

*Puts on Bear Hat lined with tinfoil

What's up with OKCoin?

Is it just messed up on BitcoinWisdom? Site seems to be up and running fine.

OkCoin really did go full retard for a minute there.