Stop spreading FUD. There was no hack or some other strange thing, it was just a huge market maker bot burning some money to clear and reshape his range of the orderbook: This caused a spike in traffic and maybe killed the http API. The websocket API was working all the time (60s lag though). Very interesting. So, these days a 700btc trade kills the mtgox api, but back in april/may on those days with the 200,000btc volume and the 20,000btc trades - well then it was just fine?
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A big correction certainly lurks ahead, but $78 is just delusional.
Never ever? Never ever ever.
I'm seeing massive negative sentiment. Yeah, I know the graphs are looking scary, but with this much gloom, I'm wondering if it might be overdone a little bit. What gloom are you referring to? To me it seems the sentiment on the forum is "omg wall street and new commericial adoption. btc straight to the moon gagnam style"
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I do not know why such small numbers would even be a matter of discussion. And if the price went down it's not "because of the dump", but, "because there is no bid support".
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Do we really need theories about "where the 800 dump came from", "where the 200 dump came from", etc.? That amount of coins is nothing! It could be any one of us.
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My hunch is that we will burst through the ath in a few days. And relax around the 1500 mark (gox price). Next bubble pop talk will start around 2k+ and the actual pop doesn't occur until 4k.
Note: I am usually wrong, APART from when I have actually put my money where my mouth is. I haven't lost by actually trading before.
You're betting on a new ATH after only a month-long correction? How do you figure that? This has never happened in bitcoin. Even the smallest corrections from very early on were at least 2 months and the average correction is 6 months.
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I predict March-April is going to be huge for the US. TAX RETURNS pouring into the exchange(s).
I don't think any bitcoiners are getting taxes RETURNED. More likely they owe a crap load of tax, so actually they need to dump.
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what exchange are you going to trust when it comes time to cash out your "fortune " in btc ?
at the moment i wouldnt trust any of them with more than pocket change ,if a bitcoin ever reachs 1 mil $....... would you still send it to a foreign exchange ?
Well exchanges are the only reason I have a btc "fortune" to begin with. Without trading, I would have 100x less coins than I have now.
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I think OP is tripping on silk road acid
I think that when I open almost every thread in the Speculation subforum.
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I fail to see the correlation between the topic and the price of bitcoin.
Well when the apocalypse happens I'll probably have more to worry about than the price of bitcoin also..
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Downtrend? FFS were you asleep this weekend?
no, but I sold some today. Think the downtrend is starting. Were those your coins I got at 875 on stamp?
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I think of it like this: once Im a bitcoin millionaire, I'll have enough money so that I can feel comfortable quitting my day job. Once I've done that then I'll have the time/freedom/energy to be able to do independent contracting, start my own company, do more/better day tarding, and make brilliant inventions, which will truly make rich. Bitcoin was only the tool to release myself from bondage but it is not everything.
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The trend over the past month and a half has been a 'circular' trend. I'll call out "the wheel of fortune".
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All I see here is that the price recently rose $250 way too fast and too little volume so it left the order books really thin. Then naturally the thin space in the order books is now being tested and the gap is being filled. So far all I see is a correction.
If it goes below 850 where that trend is then it might be a downtrend.
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Bitcoin Exchange offices do not have real money for all of your Bitcoin !!! 100% They have about 10% cash, and 90% chash not have !!! I personally would not paid a 100USD for 10 million Bitcoin. Well if I was looking to cash out a large amount of coins (say 10,000s), I probably would not use "exchange offices". Id make an offer to SecondMarket, Fortress, or maybe even Loaded. Btc is where it is at now because the primary investors are not on exchanges.
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With all those bit coin days destroyed one could theorize a huge purchase of XXX,XXX coins occurred by fortress or something which averted an entire bear market worth of coins on exchanges.
Didn't that huge spike coincide with 400k oldish coins moving from a single address? What makes you think a single holder would dump 400k coins on exchanges? Maybe I am misinterpreting. I don't remember 400k except some transfer someone pointed out from 2011 to scare people. What we deduced was based on the days destroyed, it would have to be at least 96,000 coins. Whatever the amount is, it could be some ASIC mining firm that wanted to cash out their investment or pay invoices on equipment parts. Who knows.
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I'm noticing a trend where every time there is a crash, some agency sneaks in, accumulates a ton of coins and never sells. After the crash, this leaves the books having even more USD and less btc than before the crash. This trend started with silk road.
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Many people seem to be in such a rush too see btc reach high prices when they should be focusing instead on accumulating as many cheap coins as possible before that happens. That is why we have "bears" even though most of them are actually bulls.
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Yeah obviously not a fatal protocol related issue that spells the death of bitcoin. I mean the usual FUD and/or bubble pop.
Recently the fud trend has been: X drops out of the market. People think X was the sole source of bitcoin investment and dump all at any price. Replace X with: mtgox, silk road, china, etc.
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Best time to buy is at the bottom when the shit hits the fan. Nothing beats having your position secured with a 25% profit an hour after you buy.
And how do you know if you just clean your face and the fan turns around at your direction AGAIN? Aaah it's so easy to talk hindsight :-) Its been very easy to identify short term bottoms by looking for a certain volume level and aggression of large buy orders / buys on gox and stamp.
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Best time to buy is at the bottom when the shit hits the fan. Nothing beats having your position secured with a 25% profit an hour after you buy.
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