Bitcoin Forum

Btc is going crazy, prices go up and down incredibly fast, what`s going on?

Isn't this the normal weekend behavior?

It's weekend and the old banks don't perfom wire transfers.

So there are only very few transactions, and those few produce a lot of noise.

FTFY  ;)

No, its not normal. Its actually a very fun weeked :D

Do you think it's also stirred by all the new press?

Well price trend is down right now. You could use it to buy some cheap bitcoins. maybe if you wait till tomorrow you'll find it cheaper even.

I just think some people want their hard cash. The price has to come when they sell so it's a great time to buy  :)

I'm supposed to be programming, but I couldn't resist buying at 14. .. We'll see what sunday holds!

BTC's are a commodity, so prices will fluctuate.

Regular stock type exchanges and banks are closed on weekends, so a handful of trades are all that MTGOX has to go from to set trends.

It might not be a bad idea to buy when they are down to half the price they were on Friday, since all regular financial institutions will be ready for business

price is still higher then it was 5 days ago. everyone chill

nice buy!

i think you timed it close to perfect.

i was asleep.  :'(

I am not worried. The 24h trading volume is still very high.

Price trend has been down for long time it seems like, or did I screw up the graph? :( I don't want this to end now, I just bought my first coins :(

https://i.imgur.com/qrRRv.png

ITT: People who have no idea how markets work, but came here after reading mainstream media and thought they could print money.

A lot of you should invest in CD's or just regular savings accounts with a set interest rate, so you're guaranteed a return on your investment. With BTC, just like stocks, you could wake up tomorrow a millionaire or flat broke. It's the risk you take playing the markets.

Not really because when price goes back up beyond $31 they'll be OK.

The insanely high price swing (coming from a traditional trading point of view) no doubt has scared quite a few people. And by price swing I mean downwards.

Just wait until Monday before you come to any illuminating grand conclusions worthy of the golden hindsight award.

I guess you won't be joking about bitcoin in a month. And you'll surely be crying in a year.

An early adopter cashed out 17K+ BTC all at once, driving price down from 20 to 13. It's back up to 18+ now.

I wonder how much of this is from Tradehill? I thought I read they had 1500 accounts their first day. Did people move a lot of BTC to those accounts or something?

May I ask how you know this? Were you watching the price feed when this happened? I wish I could've seen that in action if what you say is true.

However, I'm surprised this supposed early adopter dumped so many all at once. Wouldn't it have been much smarter if he sold in small amounts over a period of time.

Gettin' payed is gettin payed.

Well true getting payd is gettin payd...but surely he would've realized he could've gotten MORE if he slowly sold on each market peak. I guess the whole time value of money applies...a bird in hand is worth two in the bush..yadda yadda

Dude this down-spiral has been quite the windfall for people with the ability to trade on more than one exchange.

Meaning that bitcoin is just a bit more alive than a few days ago.

Alive= volatile

volatile= more chances for first time investors that can keep their.... together.

This is a lot of investors wet dream come true provided that they have access to multiple exchanges.

more power to him/her.

1. get BTC at 0.03 USD

2. wait for inevitable price gains.

3.  profit!

eh - so instead of $30, he/she got $20 - do you think that with a buy-in price of a typical (very) early adopter, it would matter?  wouldn't to me.

it'll be old history in 24 hours...

Good. That will diversify funds a little more.

I was watching and It looked like several big buy orders were cancelled and then someone dumped a large sell at the same time. Clear and successful attempt to cause a selloff.

Damn, I wish I had a video or some screenshots of that happening!

Currently peeps should pay more attention to diversifying between different exchanges right at this moment I can see price differences of over 3USD/BTC just waiting to be snapped up. This panic is just opening up the market for more opportunities.

A Mt Gox semi monopoly is going to cause these wild fluctuations no matter what, so diversify in terms of trading options and you'll make cash even in a temporary down spiral just like this one and come out with the additional cash to push values back up again.

It went down something like this:

Big buys supporting price
https://i.imgur.com/0AMNy.png (https://i.imgur.com/0AMNy.png)

Remove said buys and add a sell (soon after the buy @ 16 also disappeared)
https://i.imgur.com/6qhAK.png (https://i.imgur.com/6qhAK.png)

Watch people panic
https://i.imgur.com/3W95k.png (https://i.imgur.com/3W95k.png)

large transfer here

http://blockexplorer.com/address/155kHCZstYaosoGRxthF1zsZFVFheVFPLS (http://blockexplorer.com/address/155kHCZstYaosoGRxthF1zsZFVFheVFPLS)

lot of the inputs look like block rewards, some from early blocks

lol..awesome..thanks for that piuk, you're da man!

Those screenshots will have historical value - keep them safe somewhere :)

That's a nice chunk of fiat.

Ahh I see now. Thanks. Well I guess that person decided he wanted some inflation funny money. Whatever, good for him/her.

Until Monday we won't have anything left...

Until Monday we won't have anything left...

Bought some today at 20, 21 and 22 USD/BTC and I think I have made pretty good deal.  :D

no kidding.

check out the original blocks.  looks like they're all mined blocks - many going back to 2009.

< waves from sideline... >  best of luck, mystery miner!

:) similar pattern emerging again, fascinating to watch.

17k blocks... somebody got married and bought a house, or divorced and bought a Ferrari :)

over a third of a million USD...

maybe both!  :o

Well, probably more like $200k.  I'm sure he reported it as a gain and paid the taxes on it.

if you successfully mine a block could that be considered like a lottery win? not sure in the US, but where I'm from lottery wins are tax free

where I'm from, lottery winnings are taxed 50-65%

this is why we really need to be able to sell specific coins in the client.

given that i pay my taxes, and given that capital gains tax will treat these two cases quite differently:

1.) i mined a block in march, when Bitcoin was at 86 cents/BTC, and sold that block when Bitcoin was at $31; and

1.) i mined a block yesterday, when Bitcoin was at $20, and sold it today at $20.

i would really REALLY like the option to provably sell under the second scenario - saving my older (and subject to higher tax) Bitcoin for another time.

I love how people confuse "if" and "when". Or past with future performance.



I also love how people call the thing that you can still exchange almost anywhere in the world for food, travel, goods and services "funny money"(as opposed to BTC which can literally buy almost nothing BUT the funny money, funnily enough).

lol +2