From the OP:

I have no problem with this decision; I just don't understand it. Any prudent speculator must realize they can't take a position greater than their account balance without taking on extra risk. Maybe you could make a video explaining the four order types, and some of the variable (margin balance, leverage, etc). Perhaps with the position view you could note the current liquidation price.

Currency Pair    Amount    Base Price    P/L ($)    P/L (%)    Liquidation price *
BTCUSD    -1.0    $3.4170    $1.30    50.140%    $4.500
* With current account balance (with no further executed orders), this position would be liquidated if the price reached...

I see the leverage has been halved. Does that mean the number of shorts are straining the system?  ... sounds bullish.

The first ten days of November were clearly corrective, but I was blind to the triangle that now seems obvious. The 3-3-3-3-3 justifies the long sideways second wave. The dramatic fall since the triangle (III), though clearly impulsive, does not count five valid waves. The subsequent correction could not have reached above $2.8 before invalidating the entire black count above. The price could rise another 10% but without a clear previous fourth wave, $2.6 looks as good as any retracement from where to execute shorts.

As for the yearly chart, my bet is on another zig-zag similar to mid August through mid October (x-a=zig, b-II=zag). It is unlikely (impossible?) that we'll see a fourth combined correction down (else we might just call bitcoins dead). Despite the massive bid wall at $2.1, I believe the price will continue into the $1's in the short term. However, no matter where V bottoms (even well below $2), the correction (cyan b below) will likely retrace back into the large price territory of wave IV $2.1-$2.6 before sliding back into the $1's not to return for a long time.

I'd be happy to (though you can read a discussion in real time). Wave I is a picture perfect five waves (red i-v) after which we can expect a large correction. The corrective wave II is typically three waves (though more complex corrective patterns are possible such as the count below created weeks later, but the targets remain the same). The correction often ends within the price range of red iv ("A correction usually finds its [end] point in the area of the fourth wave of the preceding impulse wave of the same degree.").



EDIT/ADD: Have you added more questions since I replied? There's nothing special about the dates, only that they extend from a publicly visible aesthetic pattern. I like the idea of a reversal on Christmas day. $1 is only suggestive as are $0.6 to $1.1 from March. The price could take off or crash to zero today, but I think the chart above presents a greater likely outcome.

Wave iv, March 2011.

Of course, it could just be someone connecting the dots...

I wondering if a depreciating bitcoin makes it less threatening and more likely to receive a favorable legal status.

I bought hard whilst I slept, slowing selling again, and taking my lady out for dinner!

He probably doesn't understand digital. He had a nice slide presentation, but he doesn't come off as cutting edge. He's proposed global basket currencies himself (Terra), so his arguments against rippleor bitcoin are not consistent. Bitcoin is a single example of a global or local currency, whereas Ripple, OpenTransactions are meta currencies, or monetary protocols for transferring multiple credit monies.

I don't know what open source software he's referring to here if he's not talking about btc, ripple, ot, etc.

Ripple is a more apt analog. Thanks for posting.

1 bitcoin week ~= 1 dollar year

Bitcoin's June bubble matches pretty well with NASDAQ '99-'04 at roughly 1:75 scaling.

Since June, bitcoins have depreciated about 10% each week, while dollar prices (including food and energy) inflate about that much annually.

I'm always willing to donate/tip on great leads, but I wouldn't pay to participate.

I was being facetious. It is impossible to calculate an economy's 'market cap' by its user base, unless you know how quickly money is moving by all participants. Often, the faster a money depreciates, the more/faster its use.

Graphically pretty. Are you planning to throw it behind a pay wall?

Above, I have two counts. The count on the prices (above) are valid. Those below the prices (identical to the 30 October count) are not valid, but look more realistic as long as we don't look too closely at the hourly sub-waves.

Magenta a above or black IV below (2 Nov. $3.45) display picture perfect three waves. Afterwards, it is not possible to count five waves, so corrective magenta b is better than impulsive 1.V (5 Nov. $2.85) though the cyan count looks better in my opinion.

Wave W or 2 (8 Nov. $3.2) is definitely corrective. Wave 2 (below) returns dead center into the suggestive fourth wave (in the below count, bigger than the magenta bar, III-IV or $3.1-$3.4).

The next magenta 'a' surprised me (today. $3.1). I expected to see at least one more wave down (there is no way to count five valid waves). The lower count black II looks pretty good (as long as the price stays below $3.2). Either way, a or II, it's corrective. I predict we'll drop down below $3 very soon, but what's next? I expect much lower, but I might exit my shorts just below $2.7.

For giggles, here is 30 Oct's count with eleven more days of data:



Something like this (as long as prices remain lower than $3.2, otherwise II could be 2, stop at $3.45):

Can you please post your calculus, including velocity of exchange.

At this time, if your also sorted by price whenever the user clicked the active/cancel column, this will help enormously today (even if you are releasing a new interface next month).

Thought you gentlemen could appreciate this two year old CDO thesis written by a young Julliard and Harvard hottie smartie:
http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf

Mike, you're a rock star. Great work. It's strange they framed you as 'the man in the cloud' or whatever you'd call the scratchy effect. But the apple pie living room background was an excellent touch. I wonder how they'd frame some eskimo on a whale hunt trading bitcoins over a sat link.

It seems a simple SQL statement select where active order by price.

Anyway, looking forward to the new features.

As for withdrawls, I wasn't able to withdrawl gox codes, but bitcoin withdrawls hit the p2p network instantaneously.