You guys are too bearish.
1. Price is holding around 60-70 on the open $ exchanges during the outage.
2. btcchina is at 700 yuans or a bit over $110
3. Anyone who wants to sell can.
4. Those with fiat on Gox can't buy.
But, please sell. I'll be buying.
Those with BTC on gox can't sell either Show me evidence that they can't withdrawal. I haven't had any BTC in my MtGox account for over a year so I can't try it, but I believe I read that withdrawals were being processed normally. They are. I was able to withdraw to dwolla and buy some from campbx. How long did it take, and what were the fees like? |
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You guys are too bearish.
1. Price is holding around 60-70 on the open $ exchanges during the outage.
2. btcchina is at 700 yuans or a bit over $110
3. Anyone who wants to sell can.
4. Those with fiat on Gox can't buy.
But, please sell. I'll be buying.
Those with BTC on gox can't sell either Show me evidence that they can't withdrawal. I haven't had any BTC in my MtGox account for over a year so I can't try it, but I believe I read that withdrawals were being processed normally. |
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You guys are too bearish.
1. Price is holding around 60-70 on the open $ exchanges during the outage.
2. btcchina is at 700 yuans or a bit over $110
3. Anyone who wants to sell can.
4. Those with fiat on Gox can't buy.
But, please sell. I'll be buying.
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Anybody who panics in the next few days will lose their clothes. The sharks will be swimming and volatility will be through the roof. I'm thinking about dusting off the old liquidity bot to catch the swings.
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Hopefully they just decided to go ahead and roll out the new trade engine. If they did, hopefully it was competently built and tested and the lag will disappear. If they are sticking to their original release date for the new engine and are just hacking together a bandaid for the old system, expect chaos.
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Is bitcoin-24 the next best exchange?
If you are in Europe, it is a good choice. In the US I use bitfloor. If there is an exchange in your country, I would use that. |
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Mt. Gox needs to implement some sort of spam filtering on small orders. Lowering their volume might be a good start to help out the lag/panic issue. Boy this sure looks legit to me... https://i.imgur.com/TTfPVyd.jpgThey could limit the number of orders for each account per day. A normal human account should make no more than 1000 orders per day. Big volume accounts may have higher limit. People may apply for an increase of limit if they are trading properly Couple that with a simple pattern recognition or minimum time delay between order with a 24+ hour ban penality. That should get rid of those annoying bots and probably isn't that difficult to implement at all. A decent trade engine should have no problems with this amount of traffic. Because the existing engine has to check all pending orders for each user on both sides of each trade it has no choice but to be laggy. In a few weeks the new engine should be done with testing. With the new engine only fully funded orders will be allowed. This will remove the existing bottleneck and if done right should allow 1000x the traffic since you only have to lock the order book to pull off enough orders to fill your incoming order and add any remainder. However, it will likely be done in PHP by someone who thought the original design was fine, so we'll see how it plays out. |
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Manipulation and price suppression don't work on strong hands. In the case of Bitcoin, it's all a game played againts the weaks hands, usually ending in carnage for them. It may actually be a good thing since it reduces volatility by injecting little stillettos to prick any mini-bubbles.
I'm not sure I'd call that a 'little' stiletto, but other than that I agree. |
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I think we'll see the result of what you've described we'll before $1000, and it will end up being the biggest catastrophe in bitcoindom to date.
Is that a camel as your avatar? I thought it was a chicken that constantly ran around saying the sky was falling, not a camel. would you please update? Llama Alpaca oh and Bitcoin is a BBBBUUUBBBBLLLEEE!I don't believe it. Alpacas are more bullish. |
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I think we'll see the result of what you've described we'll before $1000, and it will end up being the biggest catastrophe in bitcoindom to date.
Is that a camel as your avatar? I thought it was a chicken that constantly ran around saying the sky was falling, not a camel. would you please update? Llama |
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 Can someone explain to me what the red line is doing on the cumulative depth chart? Showing a lot of depth. |
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It appears Bitcoin's M1 is already higher than M1 of the following countries: That's getting serious. So if March 19th was getting serious, what are we now? |
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What we are seeing is a speculative bubble, pure and simple.
That's the reality. The sooner it pops, the better for everybody. If the bears can fall back, they may have a chance at reversal at around 240. The sign will be low volume on the up move. The withheld volume will deaden the momentum, but there may yet be bulls in the woodwork. No matter your position, proceed with caution. |
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I've been calling this a bubble since the twenties (which was like 3 months ago)....now we are at almost $200.
You are delusional if you think that kind of growth is sustainable. I stand by my statement 100%
I don't think it is sustainable, but I see no reason it can't level out without crashing to the floor. I'm just saying your bearish calls have no weight any more since you obviously jumped ship long ago and are stuck until it turns. |
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Holding bitcoins is a lot riskier than having USD in a US in bank account. A lot riskier.
you mean a lot more profitable. Until the market tanks. How long have you been calling for that now? Did you sell out $100 ago yet? |
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No but that has nothing to do with the price of tea in China. The point is that $240K in USD (or other fiat equivelent) being injected into BTC economy is nothing, a rounding error. If the exchange rate falls it will have nothing to do with not enough new money coming in to keep up with new BTC printing.
What? You brought it up why are you now suggesting it's meaningless? Why say you net $48,000 USD when you don't? And yes, that inflationary pressure is real and gets even more real the higher the price per BTC goes. He said he facilitates 48k in volume, not that they profit that amount. |
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Yes- I am a terrible, terrible man. I'm not sure how I sleep at night. In all seriousness.... Yes I'm wasting water, but if these weren't going then I'd be using a lot more electricity, which would have a similar effect to the eco system (nuclear power plant emissions). Also, water is so so so cheap here that maybe my neighbors bill is like $0.25 more than normal.... You are also playing devil's advocate BR0KK, if you were really that worried about the ecosystem, then you wouldn't be wasting all that power to run a 4 GPU rig.... PS: Shuddup ya damn hippies  (joke) Nuclear power plants emit almost nothing. They are required to by law. Coal burners on the other hand release more radiation in an hour than a nuclear plant is allowed to release in a whole year. |
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Damn, after redoing my chart we are now headed for $300 by Tuesday!
On this forum you need to be very specific on dates. Tuesday next year? Next month? lol lol Tuesday, April the 9th in year of our lord 2013. Vadar? |
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