Bitcoin Forum

when mtgox opened so you could buy up a crap load of bitcoins?

I ain't gonna lie, I was.

Was pretty disappointed when it only dropped to 14$. I was expecting it to drop to around 5$/each.

I admit I had some bids below $9.

yea my buy orders were at intervals of 10,9,8,7,6,5.

I was totally expecting lots of people to dump btc when the exchange opened and all that panic selling would drop the price down to 5$ or less. That didn't happen.

I knew it wasn't going to happen because of the 10 time goxings.

Had the site opened up 24 or 48 hours after it closed, we would have definitely seen it.



Time heals all wounds.

I guess you are right.

Other exchanges were not going crazy, so anyone could have simply transferred out rather than trading out.

waiting on a news article with a headline such as 'Digital Currency Astounds Skeptics - Weathers First Major Storm' ...

Hahahaha. You broke my irony detector.

The majority of people trading at mtgox aren't on the forums or reddit and don't care about all the FUD spread around these parts.

I thought 10 was the lowest it would go so I had a bid for that.

But I felt 14 was the low point so I bought quite a bit of coins.  Lucky move on my part.

Lucky bastard *shakes fist*

I expected around $11.

I think right now we are seeing speculators abandoning ship - looks to be a miners only market.  Who will pay for who's electricity?  Some profits to be made, but tough going on that front.  Without any real value to bitcoins, average Joe is quitting the game.

BTC Economist, your trolling has been low quality and repetitive lately. We demand higher quality and more entertaining trolling.

I think what happened shows a couple of things:

a) Waiting this long was wise (even though they probably didn't do it intentionally ;-) )

b) Bitcoin is more stable than many people believe it is

c) Bitcoin successfully dealt with the first really severe attack

So it's all good news! ;-) Right on!!!

The words you are looking for are "bloody lucky".  ;)

I  was expecting a drop to around 10 at least. my backup plan was buying at around 14 on tradehill  and selling back on whichever exchange was higher after the weekend

Yes, for every shock we've seen to the system after each event the system has only gotten more stable. Its been at 17.20-17.30 for hours now.

I must admit that I was hoping something like 7$ to 8$ per BTC. But in fact that's a good news for bitcoins, I think they will stabilise a lot more than what it was before the hack.

I still think we will see a drop back into single digits sooner rather than later.

Your name reflects your posts lol. When I think of those two things my mouth throws up.

EDIT: I'm a miner, I won't sell my bitcoins for less that $10 EVER. Because then if I did I would be loosing some serious money. I'm already almost breaking even at these current rates, we need it to go up to about 35 and stay there for a few weeks so it can go back to being fair for the miners. I think we control the market for the most part, but right now we all need money for so many things that we are sucking out of the system, but once all our things are paid off, and we are all making money we will defiantly put money right back into the economy, and use the help of the new-age "littlepeople" so hence we create new "jobs". We're job creators of the future, which is what the government wants right ?

The $10 psychological barrier is big... But I think it's probable that we'll see $11 - $12 in the next couple of days. I don't think the big sell-off has even started yet. A lot of miners out there who need to pay their installments. :)

Love how this thread was 'allowed', but you couldn't let me crow about 17.00+ prices? You're absolutely mental.

I was sitting on $13, sad it didn't happen that way.  However, as someone pointed out - the end result is a positive for Bitcoin.

if it fell off a cliff...... it'd die.......



on a more serious note,i hoped it'd drop temporarily. if it was the ONLY market it would probably have gotten all crazy like that but who the hell is going to sell off for 10 or even 15 when they could just send their funds to another trading site to sell or sell at whatever people will pay at mtgox and run with their money. anything beyond 'hoping' it will drop is irrational thinking IMO

I was hoping for a big tank then a recovery so I could cash in.

I saw it dip to $14 and what I thought was a recovery, I bought in on TradeHill at ~$15 and rode it up a bit before jumping off again at ~$17. Could have held out for almost $18 in retrospect, but I didn't want to stay up and I hate leaving open orders up overnight.

It looks like the chumps who react emotionally and violently and give huge profits to everyone else are mostly gone, so I think this turmoil's been a pretty good thing for Bitcoin. It's a whole lot more enticing for a merchant to see something keep it's market value than to buy a ticket to a roller-coaster that'll make an astronaut puke.

You realize that the price of bitcoins is irrelevant to what is "fair" for miners right? Difficulty adjusts so that if mining becomes unfair and miners drop out, mining will become profitable again. Price increases, more miners add equipment, difficulty rises mining is less profitable. In any case, at some point in the future it is likely that mining will only be profitable (no matter what price bitcoins are) to people with economies of scale, cheap electricity and/or unpaid for resources (botnets and the like)

Just because you won't sell your coins below $10, doesn't mean others won't.

Personally, I'd rather see stability than either big price increases or decreases, but I think we likely have months/years before that is the case.

here here!  :D

It doesn't matter what I thought -- I still don't have my Mt. Gox account up and running yet.

I picked up a few coins at $14.  I had orders in $0.50 increments roughly between $7-$14 and one $5 order at $0.013.  Slept well. 

I was one of the first being able to place bids on gox when it re-launched.

My order was 1000 coins @ 0.1 each, just in case :) and I didn't want to be too greedy:P