Title: So is Bitcoinica to blame for all these dramatic selloffs today? Post by: CombustibleLemon on January 09, 2012, 09:12:27 PM The big selloffs seem to be occurring during this fee free time period for Bitcoinica.
I'm thinking a few people decided to dip their toes into Bitcoinica because of the no fee thing, and then got force liquidated on a small market drop while they were playing with 10:1 leverage. This could have created several unfortunate snowball effects in a row. I understand that correlation is not causation but this seems too good an explanation. Could this be right? Or am I not understanding something about Bitcoinica. Title: Re: So is Bitcoinica to blame for all these dramatic selloffs today? Post by: StewartJ on January 09, 2012, 09:24:18 PM If it's Bitcoinica causing all these cheap Bitcoins at < $6.20, send them my thanks !
Title: Re: So is Bitcoinica to blame for all these dramatic selloffs today? Post by: sgbett on January 09, 2012, 09:29:42 PM It's no small coincidence that Iran was in the news today. It must be that.
Title: Re: So is Bitcoinica to blame for all these dramatic selloffs today? Post by: Cluster2k on January 09, 2012, 10:10:49 PM I saw the Bitconica announcement posted on Bitcointalk after the volatility started, not before. Unless a lot of users suddenly signed on, fed their accounts and then proceeded to lose it all I would suggest new Bitcoinica users were not at fault.
Having said that, playing with Bitcoinica is kinda like playing with nitroglycerin. It's great fun, but has a tendency to blow up at random moments even in careful hands. I'm happy to stay away from the Bitconica casino and use my own money for trading. Title: Re: So is Bitcoinica to blame for all these dramatic selloffs today? Post by: cypherdoc on January 09, 2012, 10:24:04 PM Gold is not doing well. Bitcoin anyone?
Title: Re: So is Bitcoinica to blame for all these dramatic selloffs today? Post by: StewartJ on January 09, 2012, 10:43:13 PM Gold is not doing well. Bitcoin anyone? Keep on stacking that Digital. (Still trying to figure out how to get 100 ounces of silver inside my thumb drive) |