So let me get this clear:
- You tried to crash the market by talk and by selling, did you pay to hack bitcointalk too?
- Despite your effort price only corrected healthy 30%, which is very bullish
Just like I said. Now ofc there's a possibility that the real attempt to crash the market comes soon after this "turning to bull", but maybe that's not the case now, idk. Nevertheless crashing the market is unlikely to succeed if manipulators doesn't take huge risks and I don't think they are that kind of people (even if rpietila is, hes coins is not enough by themselves).
Wow gandi, I like this side of you.... caught me off guard there! I am feeling VERY bullish - the bears have had to accept a higher consensus of the floor level. Recent (relative) stability of over 1K IMHO means we will be up to gold very soon, I feel this week. Then new ATH is 1500 before 10 days are out. This is my sentiment. OK - I should never make predictions - but I can't see any major correction up to this (c.1500) level - bears are bruised and battered, they will wait until 'irrational exuberance' raises it's head again before attempting anything serious. |
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To me it looks like flat periods at the x10 lines for a few months, then run up to the next x10. Flat at .1, 1, 10, 100, and now flat at 1k. Let it settle for a month or two around 1k, then it'll jump up to the next, at 10k. Actually another interpretation of the chart I posted isn't bearish at all. We might not even be half way through this bubble before it pops, possibly landing about where we are now or higher. I guess bubbles are easy to spot but very, very hard to time. With hindsight easy as hell... To foresee the 'right time' exactly? We'd all be on our own private islands by now. |
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So, how about that BTC/USD? Looks like both Gox and Stamp found some nice resistance around $1000, right? Some very healthy walls there now.
Whales can take it either way if they wish. IMHO it will settle a little once Gox has the fees back in I suppose, but fluctuating 10% either way is still still at least possible... |
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Been trying to trade up and down all weekend, and largely (since it has always sung back at some point) it's been OK.
That said, I have hardly slept and been too scared to risk BTC in fiat to really risk more than two or three coins at once.
All weekend I watched the screens for fart too long and I think I made less than half a BTC wile risking thousands of dollars at a time.
I have (almost) given up - as one stupid trade would probabaly wipe out what meager money I have made thus far!
You've hardly slept to make half a Bitcoin on some trades? Hardly seems worth it, does it? No - I meant on a whole weekend - maybe 20 hours of red-eyed watching candles - altogether! EDIT: So, no it wasn't worth it- I am not a great trader, even after studying this stuff since earlier this year - anyone smarter than me might have... I find watching Parabolic SAR to be rewarding... That said, I feel your suffering, as this week-end left me for an emotional wreck, and only about a bitcoin to show for the suffering. That makes you twice as smart as me - but equally drained! The only saving grace - was in the wee small hours I remembered (I confess, and yes - I know!) I bought some 'ripples' ages ago, and assumed they were worthless - but checked in and with BTC tanking they had shot up, so I flogged most of them for coin. Last time I looked it was about 80,000 per BTC, but it suddenly went to 15,000 on Saturday - so cashed 'em out for a few coins - they have tanked again now, so that was a lucky break - made me feel stupid about watching the candles after that, went out and had a good drink and left my phone behind so I couldn't check Bitcoinwisdom - the forum was down too, it was good idea to get out.... There is life outside - really! SHIT! I got 10,000 of those for free. If only I knew they were trading at 15,000... you want some lol check out ppcoin. i had 320,000 that i sold recently. wtf are people thinking? i made like $2,000,000 more or less on accident. this sort of thing makes me worried. no fucking way that should happen. that alt is not worth much at all, its why i got so much of it in the first palce. Damn that's a lot, I am just a Junior medium-late-adopter mate. I got in when it was already a few bucks a coin - I nearly freaked out and sold in April, but I had not even found the Bitcoin forum then - I didn't know anyone else who even had any for months.... |
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I had 1.3 million ripples month ago... sold them for 47 btc. Wish I rebought some at 80k though.
They went from a couple of hundred a dollar, to around 14 per USD during the weekend fireworks, I just checked in once the forum was down (something to do) and er... Bingo! Mind you I bet I just crashed the price now! I don't care about their usd value, I sold them at right time for btc value, though should buy some when they were 80k. But then again, I should buy any alt at these days, they all went up 500% at least so it's ok, 47 btc profit is nice  Well done anything that nets 47 BTC is a result. I spend enough time on BTC to mean alts terrify me because of how much time I have put into BTC and I can't see anything close to the worth of a BTC. Ripple was a bad idea, but trading them for BTC made up for it. I guess it's worth noticing the hedge potential in the event of crashing (as per the weekend) but I have a job and a life (or did) and BTC is not my only passion, it's just the most obsessive one... |
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I had 1.3 million ripples month ago... sold them for 47 btc. Wish I rebought some at 80k though.
They went from a couple of hundred a dollar, to around 14 per USD during the weekend fireworks, I just checked in once the forum was down (something to do) and er... Bingo! Mind you I bet I just crashed the price now! |
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You can still sell 20K Ripples for 1BTC guys - have a go? You can get them to Stamp in seconds once they're converted into BTC. (there - done it now)  |
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Been trying to trade up and down all weekend, and largely (since it has always sung back at some point) it's been OK.
That said, I have hardly slept and been too scared to risk BTC in fiat to really risk more than two or three coins at once.
All weekend I watched the screens for fart too long and I think I made less than half a BTC wile risking thousands of dollars at a time.
I have (almost) given up - as one stupid trade would probabaly wipe out what meager money I have made thus far!
You've hardly slept to make half a Bitcoin on some trades? Hardly seems worth it, does it? No - I meant on a whole weekend - maybe 20 hours of red-eyed watching candles - altogether! EDIT: So, no it wasn't worth it- I am not a great trader, even after studying this stuff since earlier this year - anyone smarter than me might have... I find watching Parabolic SAR to be rewarding... That said, I feel your suffering, as this week-end left me for an emotional wreck, and only about a bitcoin to show for the suffering. That makes you twice as smart as me - but equally drained! The only saving grace - was in the wee small hours I remembered (I confess, and yes - I know!) I bought some 'ripples' ages ago, and assumed they were worthless - but checked in and with BTC tanking they had shot up, so I flogged most of them for coin. Last time I looked it was about 80,000 per BTC, but it suddenly went to 15,000 on Saturday - so cashed 'em out for a few coins - they have tanked again now, so that was a lucky break - made me feel stupid about watching the candles after that, went out and had a good drink and left my phone behind so I couldn't check Bitcoinwisdom - the forum was down too, it was good idea to get out.... There is life outside - really! SHIT! I got 10,000 of those for free. If only I knew they were trading at 15,000... To my shame I had 57,000 which had been worth way under a BTC - so a few hundred bucks. But turning most of them into 3K was way better than day trading. I would have flagged it up, but the forum was down - I bet we weren't the only ones... |
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Been trying to trade up and down all weekend, and largely (since it has always sung back at some point) it's been OK.
That said, I have hardly slept and been too scared to risk BTC in fiat to really risk more than two or three coins at once.
All weekend I watched the screens for fart too long and I think I made less than half a BTC wile risking thousands of dollars at a time.
I have (almost) given up - as one stupid trade would probabaly wipe out what meager money I have made thus far!
You've hardly slept to make half a Bitcoin on some trades? Hardly seems worth it, does it? No - I meant on a whole weekend - maybe 20 hours of red-eyed watching candles - altogether! EDIT: So, no it wasn't worth it- I am not a great trader, even after studying this stuff since earlier this year - anyone smarter than me might have... I find watching Parabolic SAR to be rewarding... That said, I feel your suffering, as this week-end left me for an emotional wreck, and only about a bitcoin to show for the suffering. That makes you twice as smart as me - but equally drained! The only saving grace - was in the wee small hours I remembered (I confess, and yes - I know!) I bought some 'ripples' ages ago, and assumed they were worthless - but checked in and with BTC tanking they had shot up, so I flogged most of them for coin. Last time I looked it was about 80,000 per BTC, but it suddenly went to 15,000 on Saturday - so cashed 'em out for a few coins - they have tanked again now, so that was a lucky break - made me feel stupid about watching the candles after that, went out and had a good drink and left my phone behind so I couldn't check Bitcoinwisdom - the forum was down too, it was good idea to get out.... There is life outside - really! |
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Been trying to trade up and down all weekend, and largely (since it has always sung back at some point) it's been OK.
That said, I have hardly slept and been too scared to risk BTC in fiat to really risk more than two or three coins at once.
All weekend I watched the screens for fart too long and I think I made less than half a BTC wile risking thousands of dollars at a time.
I have (almost) given up - as one stupid trade would probabaly wipe out what meager money I have made thus far!
You've hardly slept to make half a Bitcoin on some trades? Hardly seems worth it, does it? No - I meant on a whole weekend - maybe 20 hours of red-eyed watching candles - altogether! EDIT: So, no it wasn't worth it- I am not a great trader, even after studying this stuff since earlier this year - anyone smarter than me might have... |
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Been trying to trade up and down all weekend, and largely (since it has always sung back at some point) it's been OK.
That said, I have hardly slept and been too scared to risk BTC in fiat to really risk more than two or three coins at once.
All weekend I watched the screens for fart too long and I think I made less than half a BTC wile risking thousands of dollars at a time.
I have (almost) given up - as one stupid trade would probabaly wipe out what meager money I have made thus far!
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We can all only guess - it's a pretty chaotic system. Unless you have big enough (and I mean huge) resources that mean they can 'make' it happen, no-one can tell what comes next. Even the big guys screw up: too young a market - too many variables, too many fragile exchanges... Unpredictable. Truly. |
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I have a feeling that this is the buy in before the big dump, you know to get people confident so they can put more orders that he cant eat up later
Or maybe just a Wall Street fund guy who wants to leave at 5.00... Going to be another interesting evening. |
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Hm, big wall at about 1100...
Someone just bought a few right up to it.... Some fun starting? |
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Does anyone else thinks that attack on the forum had a suspicious timing?
Well, read rpietilla's post from November 10th quoted 2-3 pages ago and you'll see many suspicious things  Do you got the link handy?
BUT
A real crash will have the following characteristic:
- price will have risen really high, really quickly over several weeks
- 100,000s of bitcoins are brought to the market by large manipulators that are sure of their ability to tip it over
- Some bitcoins will be sold to induce the forced closure of leveraged positions, resulting in a flashcrash
- Price will quickly bounce back to almost where it was
- The following day/night lots of bitcoins will be sold to destroy the market sentiment and start a panic
- Exchanges, information services, this forum, etc. will be ddosed, mass media publicity will be enormous and negative
- Price will plummet so that about 3 weeks' gains will be erased (about 75% from the high), although it will remain above the previous ATH (in this case $266) by a clear margin.
I won't go into details why it happens this way, but a big reason is that exchanges utterly lack liquidity and btc/usd-rate is therefore at a mercy of manipulators.
There's no massive insight here. This is just a statement of history because it's happened several times before. Who on this forum is stupid enough to believe btc/usd-rate is not at the mercy of manipulators? Of course not, you are right. And the exchanges were robust, so old Nostradamus didn't quite get it right, and it is one of those 'horoscope' type things that would always look prescient at some point.... |
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Does anyone else thinks that attack on the forum had a suspicious timing?
Well, read rpietilla's post from November 10th quoted 2-3 pages ago and you'll see many suspicious things Do you got the link handy?
BUT
A real crash will have the following characteristic:
- price will have risen really high, really quickly over several weeks
- 100,000s of bitcoins are brought to the market by large manipulators that are sure of their ability to tip it over
- Some bitcoins will be sold to induce the forced closure of leveraged positions, resulting in a flashcrash
- Price will quickly bounce back to almost where it was
- The following day/night lots of bitcoins will be sold to destroy the market sentiment and start a panic
- Exchanges, information services, this forum, etc. will be ddosed, mass media publicity will be enormous and negative
- Price will plummet so that about 3 weeks' gains will be erased (about 75% from the high), although it will remain above the previous ATH (in this case $266) by a clear margin.
I won't go into details why it happens this way, but a big reason is that exchanges utterly lack liquidity and btc/usd-rate is therefore at a mercy of manipulators.
Was saying the same thing (I was writing while you posted) but yep - it did stick in the mind. |
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Does anyone else thinks that attack on the forum had a suspicious timing?
Even rpietila mentioned that a factor in any crash would be DDOS on the forum. I hate to sign up to conspiracy theories - but it is a beacon we all tun to in exciting / troubled times. Us being suddenly in the dark (with quite a few larger holders checking in) is no bad thing if someone WANTS market uncertainty. Timing was odd, it did go apeshit for a while while we were off... And raiders tend to kick your door down when you are not best prepared and they will take any advantage to create chaos if they are planning a surprise. That said my old Dad always said, it's usually more often simply a cock-up than a conspiracy. If it was designed to spread FUD, I don't think it really worked that well. Sub 500 did not happen and I could not see anyone making on both sides as easily as all that. I did watch the ratios between China and Gox and they stayed pretty close for a long time- but not constantly. So, not proven - but I am open minded. Not difficult for someone to organise, really..... Much easier than an exchange attack. |
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I see the same thing. About twice as much volume for sellers than for buyers.
The thing about this is that we know bitcoin can supply fireworks in velocity.
edit: Interesting that gox and cny are sliding sidewise while stamp is declining slightly.
Judging by the last couple of days - the chance of it staying flat exactly where it is now is probably not a safe bet. That said - with such massive movements price has proved pretty resilient and seems to favor a default level over 1000.... I won't bet on it, and it's been pretty wild (and will continue to fluctuate) but it may have found a level - it could have been anywhere with the swings we've seen, but I can neither see 500 or 2000 right now. The only thing I would venture is that my hunch is, once the market thinks a level has been reached, it will start to grow again. Someone already quoted Nietzsche: 'That which does not kill me, makes me strong' I think this applies - if it was going to hit the floor, it probably would have done by now - so, perversely, any stability around a market comfort with a value in a day or so's time, will produce growth from that point. |
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Good to see the board back - spent all Sunday (am in UK) watching the fireworks and had severe withdrawal symptoms!
Last post I saw was something about:
'looks like it's all over...'
Somebody beat me to saying 'Not until the fat lady / bitcoin sings' and then the site was down.
A total roller coaster of a weekend - Adam's 'Will we ever see 900 again' poll was out of date inside 24 hours...
All fun stuff.
Great to see normal service is resumed - hope everyone held tight (or speculated like a genius)!
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They are made of gold so when the price collapses you can melt it down to recover some of the investment. I find this not the least but ironic. that article is weird, it says they wont have the private key on them. So it's just a lump of gold with the bitcoin symbol on it? Not sure but it does sound bizarre. The original Financial Times article might give more details but it's behind a paywall... anybody have access? It says an independent company would hold the coins' private keys in escrow ready to be exchanged by paying a visit to the island. Can anyone else see the problem with this? Doesn't this open the door to fractional reserve? What's to stop them issuing more coins than they have keys? Paying a visit to Alderney is not exactly easy....! Seems daft the Bitcoin will probably be worth more than the coin, but you need to turn up in person to a tiny Island in the English Channel to redeem the Bitcoin part of it. Odd. Not very 'digital' is it! Nope. I'm from the UK and can say I've never been to Alderney, and I can't imagine going there to exchange a bitcoin. What a bizarre concept. As of April 2013, the island has a population of 1,903 people - and no direct flights from the UK(you have to fly in via Guernsey or Jersey. Imagine turning up in ten years time: "Hi, I have come to redeem my Bitcoin, I understand it's held in your digital vault?" "Ooh, digital vault - I can't remember where we put that, Sir. Er... hold on, better check at the post office see if they know about it... Bit coin, you say, eh? You're not from around here are you..." |
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