Bitcoin Forum

… once people begin to realize that not the rise, but the fall was manipulated?

very, very good point.

short selling at Bitcoinica implemented in September was also a big factor leading everyone to believe that the death knell was near.  while it hurt alot of longs the last few months, i can't help but think alot of the shorts have been decimated. in fact, i'm sure of it.

I think it's more complicated than that.  The depth of the fall is a combination of profit taking, manipulation, and just a lot of bad shit happening all at once.  On the bright side, you might say that with the infrastructure getting more robust it's unlikely that again all those things will conspire together at once.

In other news, I said several times in the past months that we wouldn't see prices above $5 for the rest of 2011, and it looks like I'm about to be wrong on the last possible day I could, even if only momentarily.

Man, that would have been an awesome betting scheme!

Clever question indeed

That's a good point too.  We had profit taking, lots of bad shit (hacking, thefts, etc.), manipulation, and short selling.

I think I agree with you on shorting at this early stage of BTC, although it surely would have been a help in May/June.

And to answer my own question: I think we might be seeing a REAL bubble if this happens, not just with geek lunch money.

Like a real tangy chewing gum version?

the real sticky kind.

I will says thanks to the manipulators because the fall enabled me to buy a lot more Bitcoins!
 :D :D :D

me to. i know own a shitload of bitcoin, i am damn fucking rich, nobody is gonna stop me, i own all the fucking bitcoin ze fuck!

85!

poor student is poor :)

So, what is the logic behind suddenly forcing the price up from $4.25 to $4.99 in an instant?  I can't think of one, except forced buying through Bitcoinica or someone playing the thin market (New Year's Eve and all).  I can't think of a real reason why someone would want a whole lot of bitcoins suddenly for a real world use.

low volume + people smarter about their bitcoins

for Bears, the logic will never be there.

I'm now dredging up old Nagle posts to show people what happens to permabears:


Look at that unbroken trend... oh wait.  ;D

It was a 200k buy, some small investor bought a little bitcoin to put aside, and that would happen more and more often as world economy instabilty increases. Rich people buy useless things like homes at 100mil to diversify their holdings, smarter rich people can also invest some small money - car price really - into bitcoin. Don't always suspect market manipulation, small time speculators never buy at market price, they set bid/ask orders.

The big buy at market price can mean only one thing - someone does not really care about several cents difference, either a short squeeze (not yesterday, it was out of the blue) or someone investing long-term.

+0.1% ;)

Are people beginning to realize? I think it will take a bit longer. 1-2 doublings from here. Then, we’ll start seeing the media go crazy again.

Indeed, you may be very well right

And if it's true then... sky? rocket? more like CHEVRON 7 LOCKED!

Just get a student loan, invest in bitcoins, and hope you didn't make the wrong decision :D

fixed:
...once people begin to realize that manipulation is normal market moving?

Or trade with margin on Bitcoinica.

oh yeah, thats a great idea.

Really? MtGox hack, Mybitcoin, allinvain and all the other shit was normal market behaviour?

I even think the MtGox hack could have been initiated by entities who aren’t very fond of Bitcoin …

+1

if they were so smart to crack the database and the pw's, why couldn't they have changed the $1000 limit withdrawal?  my own limit withdrawal was way above that amount.  

why go to all the trouble to alert everyone by initiating a 30 min (whatever it was) takedown to $0.001?

Indeed. This was not done for personal enrichment, it was done to produce charts like this one:

http://leanback.eu/bitcoin/plots/20110619195756-mtgox.png

yes, and if we're right, that means thats the only way they could figure out how to takedown Bitcoin.

btw, at a New Yr's Eve party last night, a friend of mine was telling me how his brother in law who was one of the top IT guys for NASA just came back to take a new job with the Kardashian Family enterprise in their IT dept.  he says that the techies he worked with back at NASA were nothing compared to the guys at the Kardashians.   IF one can generalize from that one anecdote, Bitcoin is going to be a real big problem for gov't. (i have other anecdotes as well).

O.o

The fuck?!  That sentence fails to compute.

He divided by zero.

There is no spoon.

lol

we're getting at it...

http://www.youtube.com/watch?v=ZaJPNrf1DPY