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Dank I am glad you found something you can do.
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Could there be a sittiuation, where gox not have the amount of fiat people want out
if this is true , it could be the end(?) of bitcoin Nah, I don't think so. But the end of gox and hopefully the end of the cargo cult. Bitcoin doesn't need them to survive. Finally someone quoting the cargo cult when refering to bitcoin exchanges! Because it is exactly how most exchanges are built, a cargo cult I read the cargo-cult wiki, but don't get the reference in context of exchanges. Someone care to enlighten me? Ente It's the whole "big finance" attitude that is being parroted, without recognizing what the practical use of BTC really is. All those types pretending to be on wall-street and such, it goes deeper than that... you can read more about it here: http://buttcoin.org/the-cargo-cult-of-bitcoinIt's written a little with a tongue in cheek attitude, but there is some ultimate truth to it. |
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You can feel depression setting in, people are so irrational... soon it will be time to capitalize on the fear   **wonders just how low it will go Once they panic. |
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I don't leave my orders in there for too long unless I know for certain it will be filled.
Right now I have no orders pending, although I own a few altcoins.
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Could there be a sittiuation, where gox not have the amount of fiat people want out
if this is true , it could be the end(?) of bitcoin Nah, I don't think so. But the end of gox and hopefully the end of the cargo cult. Bitcoin doesn't need them to survive. |
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Verification queue is at 28,300 as of right now, if anyone is interested.
Lots of people want their fiat out of gox. Most will wait with selling till they can withdraw so their funds aren't locked. WeAreMtGox: How many new accounts are you getting at the moment?Before the DDOS 20000 day. How long is the verification queue?We currently have a 2-week backlog. Is the verification queue mainly new accounts?95% are new accountsSOURCE: http://www.reddit.com/r/Bitcoin/comments/1c7ahh/we_are_mt_gox_ama/c9dpsc9Doesn't mean they are here to buy either. There are hordes of miners who want to get some cash out of their effort. Not to mention your random SR seller, people who bought in from other sources and so on. Those who are there to buy probably think twice before they do it at this point too. |
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Bidwall pull in 3...2...1..
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God I really hope they "short" the shit out of it. That does give the term a whole new meaning doesn't it?  |
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Ahahaha nice  |
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Mind you I am merly offering you an explanation for the waiting line other then: "Those people are here to buy" It's probably a mixture of both. This is speculation, that's what I am doing, what you are doing. Don't attack me because I offer a different opinion. Think about it: You are sitting on 10x-50x profits from the rally, missed the top and want some cash. Mtgox is having issues.
Your options are:
Sell now and withdraw asap. Some are doing just that (price is creeping down slowly) But that means you can't get anything as long as you aren't verified.
Wait till you are verified and sell then.
You can if all fails withdraw you coins and sell them somewhere else. But still gox offers the highest prices so people think it is worth waiting. Added to this other exchanges lack liquidity.
A rational trader would maybe do it like you described in the second option, but I think you give the panic sellers too much credit here. imo most have sold first, then started thinking about how to get the money out. Lets wait and find out. |
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I am verified, and Gox does not offer the highest prices
Highest prices with enough liquidity. |
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Verification queue is at 28,300 as of right now, if anyone is interested.
Lots of people want their fiat out of gox. Most will wait with selling till they can withdraw so their funds aren't locked. No. Most people wanting to get out would have already sold their coins. Why would they risk waiting a week or two to be verified first if they think the price will drop further? Think about it: You are sitting on 10x-50x profits from the rally, missed the top and want some cash. Mtgox is having issues. Your options are: Sell now and withdraw asap. Some are doing just that (price is creeping down slowly) But that means you can't get anything as long as you aren't verified. Wait till you are verified and sell then. You can if all fails withdraw you coins and sell them somewhere else. But still gox offers the highest prices so people think it is worth waiting. Added to this other exchanges lack liquidity. |
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Verification queue is at 28,300 as of right now, if anyone is interested.
Lots of people want their fiat out of gox. Most will wait with selling till they can withdraw so their funds aren't locked. |
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1400 is the new 800 |
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Over 1 million BTC sold over the past week. Price is holding in the $90-$100 range.
Bullllllllish.
I can't wait till the 80-90 range is considered bullish by you guys.  |
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Oh look it's Edward50 |
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I just want to note that it is now 9000btc to get to $90. Before the sell down from $100 it was only 5000-5500 to get to $90.
At this point that makes it even more likely we get there. IMO the only way for the bulls to turn this around is a bunch of market orders to 160. All the big fish which hadn't enough liquidity during the crash will jump at the opportunity once the bids stopped accumulating close to market price. you really do talk a lot of nonsense Now, why would you think that, I am merely expressing my opinion. That is to say once a trend has been established it is very difficult to break it. That is also, that I have, despite my bearish attitude never spoke out against the uptrend after we broke the previous ATH until the bubble popped. In a sense, what I am saying is that the selloff will overshoot too. That is certainly a possibility... Consider this: Current "market valuation" is > 1.2 Billion USD. There is roughly $10M between us, now, and 30 USD/BTC. All it takes is for one thousand people to claim $10K each, or for 10 000 people claim $1000 each, we land < 30 USD /BTC. Even worse, there is but $13M between us, now, and $0.0001/BTC. tl;dr: Better hope Gox doesn't lag out again. Yeah, I realize this, but I think the majority will wait till we hit in the range of the previous ATH at least before we see any real buying again. |
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I just want to note that it is now 9000btc to get to $90. Before the sell down from $100 it was only 5000-5500 to get to $90.
At this point that makes it even more likely we get there. IMO the only way for the bulls to turn this around is a bunch of market orders to 160. All the big fish which hadn't enough liquidity during the crash will jump at the opportunity once the bids stopped accumulating close to market price. you really do talk a lot of nonsense Now, why would you think that, I am merely expressing my opinion. That is to say once a trend has been established it is very difficult to break it. That is also, that I have, despite my bearish attitude never spoke out against the uptrend after we broke the previous ATH until the bubble popped. In a sense, what I am saying is that the selloff will overshoot too. PS: Don't listen to the haters, I realize I am not the most agreeable person around here, but I recognize logic if I encounter it. |
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Just make a market order.
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I just want to note that it is now 9000btc to get to $90. Before the sell down from $100 it was only 5000-5500 to get to $90.
At this point that makes it even more likely we get there. IMO the only way for the bulls to turn this around is a bunch of market orders to 160. All the big fish which hadn't enough liquidity during the crash will jump at the opportunity once the bids stopped accumulating close to market price. |
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