The market is in one strange mood...
price is clearly over priced, but as always whats holding it so high is the thought that months from now we'll be shooting higher
According to who ? You wanting to buy ?  Heh... Correct. The price is clearly the right price, in that someone is willing to pay it for a BTC. i take it all back, i just bought a bunch |
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I strongly hope there will be a dip until then. I sold my bitcoins a little under $11 in anticipation of huge shitstorm as an aftermath of the Pirate's scam, but the market seems to be bullish.
Anyone who trades on bullshit like that deserves to get burned hard. You'll have to clarify, what exactly is it that one *should* trade on? Is there some ethical consideration that underpins what is essentially forex trading? notme is short and wants everyone to stop buying.  i just went long.... really long.... |
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it could be that in the future everyone ( and by everyone i mean the miners, since they have asb authority over the bitcoin protocol ) will decide to mine the lost coins.
they will do this by sending out a new version of bitcoin client and ask everyone to send their coins to this new wallet.
any coins left behind during the move will be made available for mining.
this idea has been thrown around, and I'm 99.9% sure it will happen, after all its up to the miners, and what kind of miner would say no to MINE MORE COINS!?
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I strongly hope there will be a dip until then. I sold my bitcoins a little under $11 in anticipation of huge shitstorm as an aftermath of the Pirate's scam, but the market seems to be bullish.
i hope you have a bid placed... any dip or crash will be aggressively bought, if you dont have a bid you wont catch it. you better hope some one has been hording for a very long time and is now looking to buy a new house  What about ASIC? As far as I know, it is supposed to come out before halving (i don't know exactly when). If it really improves mining that brutally, the price should fall due to influx of new coins. ASIC lowers the barrier to entry to 0. you plug it in the wall and watch it make bitcoin. it becomes a matter of how much money you willing to throw at your mining biz. no skills required. this will lead to mining being more wide spread then ever b4, and profitably going to the absolute minimum. what happens to the price because of that is anyone guess my guess mining has even less of an effect on price. |
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Rational money only took us 5000 years to achieve.
now... how do we sell rational money to irrational people ? |
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I strongly hope there will be a dip until then. I sold my bitcoins a little under $11 in anticipation of huge shitstorm as an aftermath of the Pirate's scam, but the market seems to be bullish.
i hope you have a bid placed... any dip or crash will be aggressively bought, if you dont have a bid you wont catch it. you better hope some one has been hording for a very long time and is now looking to buy a new house |
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i think when if ASIC comes out their will be a flood of new coins created that week b4 the difficulty adjustment, bringing the Reward-Drop a few days earlier |
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The market is in one strange mood...
price is clearly over priced, but as always whats holding it so high is the thought that months from now we'll be shooting higher
block halving is creeping closer. Will happen in November around Thanksgiving. We will be so thankful when it halves. minners wont be. the difficulty will be 10X higher, their will be half the amount of coins available, and price wont shoot up fast enoght. |
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The market is in one strange mood...
price is clearly over priced, but as always whats holding it so high is the thought that months from now we'll be shooting higher
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I do not know of any Fiat dealer that will take bitcoin.
just sell your bitcoins
mtgox has a good deal atm ~17,000$ for ~1500 BTC, that's 11.32$ / BTC
not enoght? theirs plenty of liquidity....
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MNW has a dept?
you cant be saying his dept is the bet he lost.... is it?
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Could this be our millionarrr deciding to buy his coins 1500 at a time? lol
No. There is no millionaire with Almost $2m in MtGox. It's a glitch. Really? Why do I never hear about these things sooner! Link?  you go. lol it was real. it was BS, but it was real |
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ahhhh its so fast! what was that like 12 hours of trading? |
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Since it doesn't look that this wall gonna be sold into how long do you think it will last? When will it get pulled? A day? A week? This is driving me nuts, why isn't this showing up on the bitcoincharts order book.
It shows up in the http api too, is there a quick way to check the websockets api? If bitcoincharts doesn't show it because of a bug that would be hell of a coincidence. They are refreshing the prices for sure.
I just realized, bitcoincharts.com order book locked up before that giant wall was placed. Look a best BID and ASK prices, something like 11.09$/BTC and 11.19$/BTC! Thats why its not showing. Yes I've seen that, this is very suspicious timing. I suspect at some point the person will get impatient and will end up buying. I suspect its pirate forcing the market to buy his asks. that also makes sense to me. If I had a ton of coins i wanted to sell, it would make sense to put asks up in small amounts and throw a massive bid wall up to push the market into buying my coins. Assuming he wants to maintain part of his position in BTC. This could quite easily backfire. Someone with 30+ of their own could put a hurt on anyone trying to manipulate this way. anyone willing to sell off 100,000coins to squash pirates plans? I'm placing asks.... hard to believe but this wall made me turn bearish. |
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Since it doesn't look that this wall gonna be sold into how long do you think it will last? When will it get pulled? A day? A week? This is driving me nuts, why isn't this showing up on the bitcoincharts order book.
It shows up in the http api too, is there a quick way to check the websockets api? If bitcoincharts doesn't show it because of a bug that would be hell of a coincidence. They are refreshing the prices for sure.
I just realized, bitcoincharts.com order book locked up before that giant wall was placed. Look a best BID and ASK prices, something like 11.09$/BTC and 11.19$/BTC! Thats why its not showing. Yes I've seen that, this is very suspicious timing. I suspect at some point the person will get impatient and will end up buying. I suspect its pirate forcing the market to buy his asks. |
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If all the money in that bid got really hungry and suddenly decided to go market, where would that take price?
up? never gana happen.... your looking at pirate's wall thinking hes going to buy coins??? |
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After the crash last month from 15.XX USD and just before Pirate officially defaulted, about 100k BTC in SELL orders were placed (and most still are) spread out from 10$ to 13$. You can still see those in the order book.
This could be the same guy (Arrrrrh) trying to entice people to buy up his orders already, so that he can repeat.
Just a thought.
I'm not sure what he could "repeat" if that wall does in fact belong to pirate then that means he's pretty much done cashing out. one last manipulative wall to get his last few orders bought into, then he will cash out for good? (that or actually try to buy back ~2 million dollars in bitcoin) If he really had those 500k BTC when he "defaulted", at only 10$/BTC that would equal 5M $ in total. Right now, he seems to have aquired 1.7M USD. He could have changed 170k BTC for ~10$/BTC after the crash. If he sells another 100k BTC (which are lined up on the way to 13$ in the order book) @ on average 12$/BTC, he would have around 1.7M USD + 1.2M USD = 2.9M USD. Still 230k BTC left in his wallets. yes your right. if this is right, and it seems like the most logical assumption. Gox could tie a real world identity to Pirate. |
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After the crash last month from 15.XX USD and just before Pirate officially defaulted, about 100k BTC in SELL orders were placed (and most still are) spread out from 10$ to 13$. You can still see those in the order book.
This could be the same guy (Arrrrrh) trying to entice people to buy up his orders already, so that he can repeat.
Just a thought.
I'm not sure what he could "repeat" if that wall does in fact belong to pirate then that means he's pretty much done cashing out. one last manipulative wall to get his last few orders bought into, then he will cash out for good? (that or actually try to buy back ~2 million dollars in bitcoin) |
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I've send question about this to gox support. Will let you know what's the answer.
if mt-gox responds with anything other then " we placed that fake wall their in order to get more trade volume, because we are getting hacked left and right and need huge amounts of trade volume to stay alive" they are lying |
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holy shit here comes the rally of a life time
I look forward to a good hardy facepalm when this is all sorted out. lol ya... i can't jump in on this... the market appears to feel the same way.. what kind of retard places an order like this anyway? |
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