lol, party is over. Years long downtrend in place now.
What are you doing posting here, Proud? Go by some coin!  I'm waiting for the much lower prices that are on the way. Seriously feel bad for all the Euro folks who bought recently thinking this was a good way to protect value. |
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There's more than 10K BTC available for less than $70 right now !
In a few days it'll be a lot more than that. |
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Whoever sold will most likely get the chance to buy back a lot more in the coming year(s). This is the beginning of the long correction.
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This is just the beginning of the crash.
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lol, party is over. Years long downtrend in place now.
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2013 (and maybe all time) high is finally in place. It's all down hill from here folks, just sit back and enjoy the ride, er, I mean, show.
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Meanwhile: Moments ago Cyprus became the first Eurozone country to officially implement governmental capital controls into legislation. At this point it had no choice: whatever happens with the deposit haircut, or with everything else, it is now inevitable that the local Cypriots will do all they can to pull as much money from domestic banking system as possible following the complete loss of faith and trust in banks, which is why the government had no choice but to intervene with its own "controls." Sadly, this marks a milestone in the development of the Eurozone - it's all downhill, and accelerating, from here. It's probably cheaper to keep their money in their bank at this point. 10% vs the 50%+ bitcoin crash we're heading into right now (I'm being conservative, obviously) |
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Boys place your bids!!! Gox may not be responsive soon so you've gotta call the bottom NOW!  This weekend will easily erase the past 2 weeks. No question. |
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This is going to be one hell of a weekend dip. Good luck everyone. Sorry to anyone who bought over $10.
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Isn't it funny how passing 70 resembles passing 7?
40 here we come! |
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Of course it'll go below $60, far below.
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Like I said earlier, the bids are getting exhausted. We're getting closer to the reversal.
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If history repeats itself Bitcoin might make a parabolic rally up in the sky and make an ATH at 100$ for a day and crash 80% in the summer of 2013.
Bitcoin crashed 95% summer of 2011 so I am generous when saying that 80% crash should be enough - and we will be back at 20$.
The early ASIC-miners got a huge profit now and it seems that they just hord everything they mine, so when they begin to sell the chain reaction will give us a bottom to levels before the 2013-rally started.
What do you think?
Yep, but we're probably at the ATH right now-ish. |
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I think it's a good idea to pay off real world debts with bitcoin, especially if it's a mortgage. The current euphoria about bitcoin's price is great. I must say I'm very surprised as we're pushing $66 and beyond. Bear in mind that last week we saw bitcoin fall almost 25% within an hour because of v0.8 bug fears. It was temporary and we quickly saw new highs, but like in the real world there are black swans out there for bitcoin too.
This run up is going to turn even more people off than in 2011. I feel bad for anyone in Cyprus who bought bitcoins as protection against 10% loss to their savings account, because odds are that when this thing finally turns they'll have lost significantly more than that. |
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I feel the crash getting closer...
Maybe a crash of $15, but it not going under $45 anytime soon. Maybe it won't, but it very easily could. There's easily enough BTC on gox to take the price all the way to $1 and below. The bitcoin price has essentially been subsidized by seemingly benevolent early adopters. Everyone should probably start offering prayers of thanks to them. A couple of those guys deciding they want to buy something would easily take the price down 50%. And if any more than that decided to compete for cash, well, it'd be over folks. |
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I feel the crash getting closer...
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Looking at the order book history through btccharts.com, it looks like that large buy order that was at $30 it's the money that's currently being used to buy up the price and fill in the bids at $60+. As I said yesterday(?), the money on the bids side is getting exhausted now. Probably won't be long before the dramatic and long term correction occurs.
Dude, please keep talking, it seems like every time you open your mouth the opposite happens! keep it up for a couple of months and we'll see $500 in no time!  thank you thank you! This has been the theme since BTC hit the $2 low. He talks, we win. I love it. I'll happily carry the burden of nagle. This party is very probably close to being over. Everyone should probably prepare for a depressing several years. |
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I've used armory before. It's the easiest and most secure way to be really secure that I've found. I downloaded Electrum yesterday, but haven't had a chance to play with it. I did see that genjx contributed to Electrum, so that doesn't make me feel super good about it.
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The bidsum on Gox dropped by what looks to be 750k.
Could be people buying BTC to transfer out before the Gox move.
You can see exactly where that money came from through btccharts, it was the large bid at $30. That guy finally pulled the trigger. |
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