The sells aren't exactly piling up. I think what we are seeing here is a bear trap.

Oooooooooooohhhh scary ghost walls!

Be afraid, be very afraid.

Has anyone had their withdraws processed in the last 24 hours? Something tells me this big sell off we just saw might have been bitscalper running away with the cash as his ponzi scheme collapses, under the guise of being hacked. Post your successes and failures. I have none since I did not invest in this venture.

Hmmmmm

No Bitcoins from the pre-sale of Bitcoin Magazine are for speculation. They are for printing and distribution costs which I can assure you are much higher than you might think.

On a final Bitpay and Bitcoin Magazine are two completely different enterprises. The user with the account who made the OP has never been in direct contact with Bitcoin Magazine to the best of my knowledge. Sorry to debunk your wild speculation my friend.

We have received all of our funds from Bitpay to date.

And that ladies and gentlemen is how you make the buy side available on Bitcoinca again. Will you go long?

Once the starfish on the buy side of Bitcoinica is gone all bets are off. It is off and on at the moment which is the most I have seen in at least a week.

It definitely is available. I just made a long buy so Rally on!

I call bottom.

(Edit)

It was there and then it was gone. If it comes back then we are ready to resume the rally and I call bottom of the current wave.

This bot has been trading back and forth with 0.0001BTC back and forth is what is going on. I thought that was less than the minimum transaction size? Either way this is definitely someones bot causing this bandsaw effect.

This is what it comes on for sale in Canada and US at Future Shop and Best Buy. It has a license code which can also be activated with a version downloaded online. The retail price is that high but it does go on sale for $19.99 so I was just saying that your price for one license is not the greatest.

You can usually get 3 licenses for 1 year on sale at times for $19.99 USD. Probably legit, due to the high price though.

It was a typo. He isn't in Thailand as far as I know.

Guess I have to put out a bit of a fire here. False alarm folks.

Matthew had said that he would be on the road until Monday, Thailand South Korea time I presume. I think we should expect to hear from him within 24 hours.

Can someone please check hell to see if it's frozen over? proudhun, a bull.... seriously?

I might actually have a solution to this mess. I cannot go long even at 2.5:1 leverage and I am assuming the other players at 10:1 can't go long at the same time as me. Instead of completely starfishing everyone out why doesn't Bitcoinica allow for extra margins at lower leverage (2.5:1 or 5:1). This way the higher margin traders don't use up all the margin for the small fish like me.

It is kind of a sad state affairs when the only way to make money on Bitcoinica for the last week or so is to bet against Bitcoin prices and at leverage.

It never went away during the whole dip. It means that we are still probably going down further due to Bitcoinica reserve issues so I would have to agree with you about it being bad for the Bitcoin market as a whole at this point.

If that starfish doesn't disappear from the buy side on Bitcoinica soon we are going for another big drop.

Looks like a decent sized Zhoutonging took place just now. There was 2500 2311 BTC in volume straight down to 5.61. There was no residual bid wall left behind like the previous sell off to 5.70 because that's how the Bitcoinica bot operates. It could have been some other bot but Bitcoinca is my first suspicion due to the starfish.