Update:

It is not actually looking that bad. 4 hour MACD just went up. I may have gotten carried away by watching mtgox prices and btce trends and my vision may have been clouded by the markets movements surrounding mtgox. It would be great if either mtgox could get its problems completely resolved or if it could be completely removed from the market - one or the another.

The low volume would be explained in that prices are not actually declining but consolidating. I originally made this post when I was drunk was following btce price when I should have been following bitstamp price and now I realize how stupid that was. If I follow Bitstamp then new lows have not been reached and price has been consolidating well above the low of $619.

Anyway, right now it looks like we may in fact be in the midst of a two week consolidating upwave, which will trend until it finds resistance in the mid or upper 700s, before proceeding to the next high volume downwave. The downwave will end somewhere between 400 and 550 where it will find support against the long term logarithmic growth trend and then proceed upward as planned.

The long term logarithmic growth trend is driven by commercial adoption in the United States and has been there to support the price when foreign-driven and hype-driven trends have finally failed. As such, the United States will have an instrumental part in determining whether this trend continues. If the United States government bans bitcoin then the trend WILL fail. If the United States government officially recognizes Bitcoin as a legitimate enterprise, and if reputable exchanges based in the United States are built, then the trend will continue, and the price will break into new highs starting in June or July.

I would like to delete this thread, as I was acting irrationally and emotionally at the time, but I do not have that ability. The issue of where to safely store fiat during bear markets is still a valid concern. However, I should focus that discussion in another area, away from price speculation, such as Service Discussion.

My apologies.

ok

How does one go about actually receiving gox-btc in this transaction?

Isn't the whole point of this that transfers are not even possible.

Die gox die. Gox really needs to die. When gox is finally dead it will symbolize a new era when the market has moved away from centralized manipulated prices and into something more stable and usable from a merchant and user perpective, supported by actual supply, demand, and liquidity.

You guys talk about a 4 year trend like its ancient history, the ancient greeks were trading this trend, and we know exactly what will happen and then it's going to continue indefinitely.

The difference now is I do not trust the exchanges. I guess the same was the case in 2011. I was not here then.

I will still buy back in if and when an uptrend is reestablished but do not trust a foreign exchange with my funds in the meantime.

I already did that a month ago.

I get it. Cryptocurrency is valued at potentially infinity. So it's value is [0,infinity].  I have allocated enough bitcoins in cold storage (and altcoin exchanges) for the infinity case already. This was originally a 20% position, but since has become 15% of my position (I have made no trades). Oh well, eventually it will be infinity anyway. But in the meantime, I need to figure out what to do with the other 85%. [0,infinity] is not an acceptable store of value for it, so I need to find a different way out. Maybe I will sell to SecondMarket?

EC cracked

I also asked, how do I become a "client" with one of the "whales", but never got a response.

Supposedly with Coinbase, I could buy up to $50K worth of bitcoins per day with a checking out, instantly and based on bistamp price. Is that correct?

I don't buy into a falling market. I also don't trust the exchanges. This seems to leave me no other choice than to wire fiat out of exchanges and then find a way back in once my confidence in the market has been restored.

The low volume is creeping me out now. This is something new that we have not experienced before... prices falling on declining volume? Combine this with: the exchanges that I trade btc on are all facing some type of issue and and are not trustworthy, and.. Can someone give me a convincing reason to even remain in this market anymore? I'm starting to think the wisest thing to do is just to pull my funds from bitcoin exchanges and play the stock market or something.

Mtgox claims that it's a software issue dealing with their version of the bitcoin software so it should be a simple as fixing their software. The question is whether or not they are lying. Judging by market activity there, someone might have some insider info that they are lying. Then again, deducing things via market movement tends to be a mistake.

#bitcoinisdying

#bitcoinbacktotheunderground

#ageofkarhu

trololololol

See this is the bullcrap I was trying to address in the last bullet of my post. I know hodling is a good strategy but when you start saying that trading is impossible or that traders are dumb then you are going too far. There is no need for this. Just because YOU can't trade doesn't mean it's impossible. In fact bitcoin is the EASIEST asset to trade of any asset, stock, or commodity! There is so much volatility, so many sheep, so many primitive EMA bots, and such a lack of professional market makers that the users of exchanges practically hand you their coins! I have multiplied my coins by 100 in the past year doing trading. Did I do that with luck?

It's either a 5 day or a 2 week bulltrap inbetween the last drop and the next drop.

USD will be have a better chance to be recovered in court than btc since there are many laws written specifically dealing with USD and accounting.

No it is a multistage bulltrap. Each wave features:
1. An immediate bounce (yesterday)
2. A 1 hour MACD cross (yesterday)
3. A 4 hour MACD cross (imminent)

The one large wave that takes 2 weeks to complete (like the one in May from 88 to 115) also features a 1 day MACD cross, so it has 4 stages.