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you have to ask yourself, with the price in the $2's, what were all those >1350 people logged into mtgoxlive doing this morning? were these yet MORE early adopters getting ready to dump their 10's of thousands of Bitcoins onto the market NOW after a drop from $32 down to here?
or were they more likely BUYERS who have driven up the bid wall to $130K and have market buys ready to trigger at the next spike UP? everyone would love the chance to be an early adopter and here it is. these bulls are locked and ready to pull the trigger on the next few spikes.
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>1300 logged onto mtgoxlive, the highest i've ever seen, and the price is slowly moving UP with a bid wall of $125K. i like SLOW PAINFUL SQUEEZES.
If you are really so confident, please buy on Bitcoinica with margin. I can give you $1 to try it out. my balance would exceed your reserves. Alright, please just deposit $4,000. I will give you $20,000 tradable balance. Let's see. i might just take you up on that. actually i've decided i'm rooting for you now at the expense of the shorts @Bitcoinica. i hope you tighten that algorithm up so tight that guys like BitMagic get bitch slapped on the next few spikes UP. he's a dummy not realizing that its you or him in an illiquid delayed situation where you have all the power. i can't wait. |
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how about BitMagic who's been bragging about his margined acct?
I am doing just fine, thanks! Never had a margin call, because I know what I am doing with my leverage. Do you enjoy looking like an idiot, cypherdoc? I'm trying to figure out if it's just masochism or what. i usually stay away from the Spec forum to avoid idiots like you but its kinda fun to mess up all the planned Bear raids. |
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6/7 days up.
You have a ridiculously short memory. Up from...$2.5? Nice. Good luck recovering your losses. What you buy at, $28? Not only that, sold his gold to invest in btc. True believer bagholder right here. yes, bought silver btwn $9-12 and sold at $44. bought gold at $550 and sold btwn $1550 and $1650. nice healthy returns all plowed into Bitcoin. play money. |
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6/7 days up.
You have a ridiculously short memory. Up from...$2.5? Nice. Good luck recovering your losses. What you buy at, $28? Not only that, sold his gold to invest in btc. True believer bagholder right here. making big returns requires vision when others like you are blind. |
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I'm not short bitcoin, even though I think the value of each coin will hit a couple of cents within a year as speculators flee, too many people try to mine, and another digital cryptocurrency replaces bitcoin. I choose to hold stable currencies like the dollar and other investments that are less volatile.
Bitcoin is useless as a currency (nobody would use USD if it took 5 minutes to confirm correct change, and is why nobody uses btc), will be replaced by better crypto-models (blockchain on every client, and it's absolutely gigantic, built-in deflationary currency model creates too much scarcity, and good currencies are liquid), and 95% of coins are held by speculators or the original creators.
If you honestly think you're going to make money on bitcoins or people will replace fiat currency with this, I suggest hiring an investment advisor and doing what he says (probably buy a couple of mutual funds), you are too stupid for your own good.
wrong, a fixed supply currency is just what we need to solve the kleptocracy currently in place. the people want it and will get it, its just a matter of time. and you have tons of good technologically inclined people working to make it happen. climb on board, the train is about to leave. |
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6/7 days up.
You have a ridiculously short memory. Up from...$2.5? Nice. Good luck recovering your losses. What you buy at, $28? sorry to throw a wrench into your plans but i'm happy to do it. |
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Zhou: how's this volatility affecting your clients?
Those who trade on margin have already been wiped out long ago. I don't see any significant problems even if the price increase to $4 or decrease to $1.5. how about BitMagic who's been bragging about his margined acct? |
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>1300 logged onto mtgoxlive, the highest i've ever seen, and the price is slowly moving UP with a bid wall of $125K. i like SLOW PAINFUL SQUEEZES.
If you are really so confident, please buy on Bitcoinica with margin. I can give you $1 to try it out. my balance would exceed your reserves. |
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General Market Update:
USD down
stocks up
Bundestag approves increasing leverage support to EFSF
Gold/Silver up
Euro up
UST's down
therefore Bitcoin UP
RISK ON BOYS!
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Zhou: how's this volatility affecting your clients?
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>1300 logged onto mtgoxlive, the highest i've ever seen, and the price is slowly moving UP with a bid wall of $125K. i like SLOW PAINFUL SQUEEZES.
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just updated mtgoxlive on my android reopened and its says v3.0. is that the correct one?
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Mastercard and Visa will fund the development of this technology, with zero net gain of either upon the other.
Then Bitcoin will slide right in. Google won't care either way... USD and BTC will flow through their systems.
thats exactly what i was thinking. Bitcoin's zero to insignif tx fees will not be denied. |
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i disagree that they are controlling the economy. i'd argue that the naysayers are the ones driving down the price and thus the eonomy. they've flooded this forum with FUD since the Spring.
It doesn't matter whether they are currently doing so or not. What matters is that they have the capability to do so. You can't trust a currency when people have that kind of power over it, even if they profess to be do-gooders and haven't shown any signs of potential malicious behavior. If someone was dropping huge quantities of bitcoins to "control" the economy, they would be diluting their power pretty quickly. Basically it is better that someone dumps all of their coins now and causes the ripples in the economy when it doesn't really matter much. You're missing the point. It's not about the actual act of dumping coins, it's about the threat that they could do so at any time and cause economic turmoil, that makes a currency untrustable. I completely agree that it would be better if someone dumped all of their coins early on. It would spread the coins so that a single person doesn't have that kind of power anymore. But, with early adopters STILL holding on to Bitcoins, that threat is still there. And it will be there for a long time, even if those early adopters DO move their coins, simply because we wouldn't know whether they just moved them to a set of addresses they own elsewhere, or whether they actually sold them to a variety of people. In summary: Dumping coins causes a currency to become unstable (with regards to its value), and the threat of dumping coins causing a currency to be untrustable. its not worth worrying about large holders b/c they are just part of the market and will always be there. there's nothing you can do about them and you have no way of predicting what they'll do. and there will always be some of us who have more money than others. for all you know they all might all have agreed to not ever sell a coin until the price hits $10,000. Not true. There are a variety of ways you could start a currency that avoids giving any single person more than 0.5% of the currency. I don't mind people having a large amount of money. The richest man in the world has what, $60B? But that's pittance compared to the total amount of USD in circulation - $14T, or more. $60B of $14T is 0.4%. I don't have a problem with that. In fact, anything less than 1% would probably be ok. But it's when you have early adopters in the case of Bitcoin, who have upwards of 7% of the total currency, that you cannot trust the currency until that amount of wealth is redistributed. Because having that much of the currency really truly DOES mean you wield the power to wreck the economy, just because you feel like it. its not rationale for a large holder of btc's to dump them onto the market to crash the price at any pt in time unless you're the gov't or a bank who somehow got their hands on a large chunk of btc and want to destroy it. for the early adopters however, they will slowly bleed their holdings out to minimize the impact on the price they decide to sell at. you see this happen all the time with penny stocks where the founders have their brokers slowly sell their large stock positions to minimize a selloff before they achieve their objectives. |
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i still think Bitcoin is the digital equivalent of gold and will eventually be perceived as such.
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i disagree that they are controlling the economy. i'd argue that the naysayers are the ones driving down the price and thus the eonomy. they've flooded this forum with FUD since the Spring.
It doesn't matter whether they are currently doing so or not. What matters is that they have the capability to do so. You can't trust a currency when people have that kind of power over it, even if they profess to be do-gooders and haven't shown any signs of potential malicious behavior. If someone was dropping huge quantities of bitcoins to "control" the economy, they would be diluting their power pretty quickly. Basically it is better that someone dumps all of their coins now and causes the ripples in the economy when it doesn't really matter much. You're missing the point. It's not about the actual act of dumping coins, it's about the threat that they could do so at any time and cause economic turmoil, that makes a currency untrustable. I completely agree that it would be better if someone dumped all of their coins early on. It would spread the coins so that a single person doesn't have that kind of power anymore. But, with early adopters STILL holding on to Bitcoins, that threat is still there. And it will be there for a long time, even if those early adopters DO move their coins, simply because we wouldn't know whether they just moved them to a set of addresses they own elsewhere, or whether they actually sold them to a variety of people. In summary: Dumping coins causes a currency to become unstable (with regards to its value), and the threat of dumping coins causing a currency to be untrustable. its not worth worrying about large holders b/c they are just part of the market and will always be there. there's nothing you can do about them and you have no way of predicting what they'll do. and there will always be some of us who have more money than others. for all you know they all might all have agreed to not ever sell a coin until the price hits $10,000. |
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mtgoxlives's connected = 918
somethings brewing...
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