It seesm everybody and their sister is looking to buy at that $400 level. I suspect that final capitulation may be closer to $200-250 but I know nobody wants to hear that.
Last summer many people like you said the price was sure to revisit 32$. Actually they said the price would revisit 50$, which it didn't do. ... I think we might be here. That's also my current assumption, although we might get one more leg down in the next few days. Just like now, I recall at that time the force behind the decline was really weak at which point I knew we were close. |
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Curious what the other traders here are doing. Today I bought back the rest of the bitcoins I was short, and looking to buy more with the proceeds if further capitulation occurs. Not to brag, but I've more than doubled the number of bitcoins in my account if I were to go all in now. From the past I've learned that at this point it's wise to lock in gains before it's too late and you end up chasing the rally.
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Your prediction is as inspirational as your name
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This feels like capitulation.
If you're right, then long bitcoin short stocks could be an extremely profitable trade right now. That's what my money is on. |
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a lot of us here know how great bitcoin is, and so we expect huge money in the shadows all the time.
I challenge this for two reasons;
- institutional money is timid to enter the exchnges. it is a lot of risk to hold millions of dollars on an unregulated exchange.
- not everyone thinks it's great! we are in good company, but never far from a bitcoin basher. we would be wise to expect corrections to natural fibonacci levels than guessing that the illuminati is ready in the wings to buy billions of dollars of bitcoin!
Let me remind you that facebook bought whatsapp for 19 billion USD. |
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This is ridiculous. Who the hell would dump 2.5k coins onto the market considering that we've been red for the last 7 days? This has to be the dumb money.
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Cant believe my eyes in the front page of zerohedge The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed did they actually just say that bitcoin has been propping up the Nasdaq?? lolol trolling? I also read "bitcoin" the first time I saw the article. Boy, I guess I'm addicted :p |
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Does anyone have the updated number of the amount of coins that SecondMarket currently holds, including subtracting any sales?
First page of this thread, dude |
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It's taking awfully long to get some momentum going to the downside, is the bear on its last legs?
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Hopefully there will be lots of Oscar coverage. I just can't gets me enough actor worship. lol |
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i wanted to comment on this new exchange that is forming on Second Market.
i don't like the sounds of how it's being structured. seems eerily similar to the London Gold Fix and also how the banks have rigged Libor. anytime you get a dozen or so banks on the telephone to determine the price of something, you're asking for trouble. we know they rigged interest rates and probably have tried to rig gold as well.
from what Barry Silbert talked about on Bloomberg, doing a twice daily Bitcoin price fix based on what a bunch of banks say the price is would be ridiculous. i'd rather rely on Bitstamp to be quite honest.
Do you think it's possible he was forced to do this in order to receive Wall St.'s blessings? |
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Mark was in #bitcoin-dev at the time of the heist asking the bitcoin devs to roll back the blockchain, so that lines up with this theory.
Very interesting. You wouldn't happen to have an IRC log or a link handy to a thread discussing this, would you? I just went over some chatlogs at http://bitcoinstats.com/irc/bitcoin-dev/logs/2011/06/19 and it turns out I must've remembered wrong. Still an interesting conversation to go over if you read what MagicalTux (Mark Karpeles) says or rather what he does not say.. |
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Mark was in #bitcoin-dev at the time of the heist asking the bitcoin devs to roll back the blockchain, so that lines up with this theory.
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high-frequency trading is not well understood by the general public
isn't it pretty much like cheating? I mean the exchange itself obviously has 1ms ping with its own servers. someone would soon situate their bots over the street of bitstamp's servers  just to get better ping than anyone else Depends on how you look at it, you can use it to your advantage as a "retail" customer. It provides lots of liquidity, so you pay the fair price. High frequency trading will enable a liquid option market for bitcoin, which is needed to stabilize the price and to hedge risk for end-users. |
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It will happen.
Problem is that high-frequency trading is not well understood by the general public, just like bitcoin is/was not understood by the general public.
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One of the reason the other exchange's prices are depressed was the belief that Gox will resume withdraw, which caused cheap coins being picked up at gox to be dumped elsewhere. Now that Gox seems to have lost everything, shouldn't we have a massive rally now that this 'phantom' dump will no longer take place.
That is also what I'm expecting. It will take a little while for the irrational selling to cool off, and then the whole situation with mtgox should be priced in, and we can start the recovery. |
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At least that dysfunctional site is finally gone now. It was hanging like a dark cloud over bitcoin.
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Max Kaiser is the same kind of sociopath as Bruce Wagner, I've said this when he first popped up and this is still my assessment.
But then the Bitcoin community is full of sociopaths, of different kind and each time one of them does their thing the resulting clusterfuck is priceless to watch.
says the biggest sociopath of them all |
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Any reason for this rise?
Fuck these irrational markets. Bitstamp rises because MtGox rises. Then MtGox rises because Bitstamp rose. These two exchanges are jerking each other to the fucking moon.
The whole world was short bitcoin, only a spark was needed to get some shorts covering, which is snowballing into a nice little rally  |
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