Please stay on topic.  This thread is not to actually speculate the price.  I guess I should have chosen another sub.

1. Depending on how it plays out,  it's not guaranteed that the price will rise. It might collapse instead.

2. Bitcoin is a high tech payment network with hundreds of use cases.  Restricting it to this one use case of capital flight is pretty narrow minded and an insult to bitcoin. A real bull would want bitcoin to succeed in its own merits.

3. The price would be much higher if bitcoin went mainstream in a thriving economy with government approval, rather than a negative environment with no spending and only storage. Things would be growing,  and money would circulate hundreds of times faster.

4. In the case of hyperinflation, the prices of goods is rising in tandem with the bitcoin rise and your actual wealth in terms of what goods you can buy isn't rising as much,  if there is even a supply at all.  Meanwhile your neighbors are suffering and starving.  Heck,  you might just starve too.

5. You want to live in a negative and harsh world,  where everyone is unhappy and there isn't even anything fun to spend your coins on... If you can even find places to spend them because they're probably illegal. Nobodies quality of life is going up,  not even yours.  For any advantage due to your bitcoin wealth,  there is an equal and opposite disadvantage.

6. If people get wind of your wealth,  they will hate you and your life is in danger. 

7. You literally want billions of people to suffer just so you can make a profit.  You're just like the capitalist pigs and the government and are against all the values that bitcoin stands for.  You are despicable.

Go hope for something more productive because you might just get what you wish for.

Were discussing what could happen in a weakened economy.  When people have less income,  less lending,  and/or higher expenses,  then they don't have as much left for investing OR saving.   For purposes of discussion let's just assume a generally weak economy and not this all out catastrophe, government seizure,  or whatever it is the 'bulls' have wet dreams about.

People who can't afford to be speculators have their money in food,  their mortgage payment,  their car payment,  and running their business. When people stop being able to lend money to cover all these things, or they have less income,  or higher costs,  that means there are no more left over dollars which means no more left over purchases of gold,  silver, or bitcoin either.  There's just nothing.

This cascade of stoploss orders due to volatility causes more volatility and more volume, which means more profit for the exchange and more action for the day traders who support the exchange.  It would completely not be in their interest to implement such a measure and it's probably only done in the stock market due to regulations

Not necessarily.  If people start having less money due to a decreased ability to borrow and leverage,  or otherwise,  then they won't have as much speculative money to support the price.

It's probably due to gov regulations

It looks like a glitch.  How could that suddenly happen in such a tiny exchange without causing any volatility at all or affecting other exchanges.

finex tape broken on wisdom

Calling me 'old timer' only adds to my point here. Nearly two years ago I left, when all of this Chinese bs was going on, and when I came back I expected was ample time for the Chinese to be completely capitulated and out of the market, and that that fake CNY volume would be completely debunked. In fact it is well known that the CNY volume is fake and it was even way back then. Coindesk doesn't even include those exchanges in it's calculation. USD and adoption are supposed to be running the show now, but here we still have jokers talking about how 'the imaginary chinese whale dumped his 80,000btc/cny on Huobi'.

Seriously, you guys are still counting BTC/CNY volume on Huobi and OKCoin? Get a clue.

I didn't do a whole lot of trading. I was mostly focused on getting my actual career (it's not trading) back together. I did dip my toe into forex and made $1K (I was up $4K at one point). However, I got spooked out with the massive amount of leverage I have to use, especially after that SN-Bomb CHF move in January.

I came on here today to see 10 different people posting 10 different charts with 10 different sets of weird indicators/lines all with an arrow shooting way up into the sky. I'll take that as indication that it's NOT Time to bet the farm just yet.

A drop of that magnitude was neccessary to reverse the short term trend downward so that the chart has enough time to fill in before the next leg up. Any less of a drop and it wouldn't turn, it would just keep going, which would be bad.

There was a whole network where you could transfer fiat from some other exchanges to mtgox literally instantly (and lots of other services and some channels to other exchanges too). You'd click something on btce and 2 seconds later, funds are in your gox account ready to go. Where can you even do that sort of thing now? All the exchanges are so serious about fiat now with antimoney laundering, kyc, anti terrorism, etc. You're lucky if you can even get the fiat to your bank account.

That wasn't all though. It most mostly the giant order book with 300K btc on the bid, the huge volume, the api, and the Clark Moody site.

If bfx is legit, then I wouldn't be surprised to see longs suddenly burst to $100M+ during the next serious rally as more lenders pour in to add fuel, like they did in the beginning on that chart.