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I'm not exactly sure, but i thought the dump seemed to be initiated from the west. I was watching Bitstamp at the time, and it started dropping first.. OKCoin followed afterwards.
Or i could be talking complete bollocks..
I just caught that think about the PBoC meeting and so on. I don't think it's any reason to worry. Still, not nice seeing sudden downward moves like that!
I think it's just the usual "sell the news" reaction.. we'll be back climbing inside next 24 hrs or so. $1100 & €1000 in next 72 hrs. Lets see.
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Gone full retard apparently.. COIN not approved (insiders?) EDIT: I'm speculating here.. i know nothing either!
CO-ordinated dump? Who knows anymore...
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That's crazy.. 9 years to get to 2.5 PH (?) then + ~30% to 3.4 PH in a matter of literally days???
Where the hell did that extra hash power just appear from?
New secret chip in China?
The PBoC?
That increase is crazy. On the all time chart it's gone parabolic!
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The worlds most powerful idiot...when even just a tweet can crash your companies stock by 10% in moments
Yes and even when he tweets the wrong person thinking he was giving "I have such a swell daughter!" thumb ups. Too bad he did it one of his many non-supporters.  He does not know anything about technology so he would be the worst when engaging anybody about the future of currency. Heard this one the other day.... twitler  I lol'ed.. |
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some people said i was bs and i did not own any significant amount of btc and blablabla. so i showed 1 of my addresses.. it went from exchanger to another exchanger and now sitting in a cold wallet.
Ah right... thought i was missing out on some salacious happenings somewhere (I almost certainly am, but not here it seems) |
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O.k. I will bite. What is that supposed to mean? 2nd bite,., Do you know why there are two 100BTC transactions going to this wallet? Why is it significant? Old coins moving? A campaign of some sort? A dev fund? What is it, man? Tell us!!!! |
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Someone with much better skills than me, please make a meme out of
"dumbing for dummies...
..a guide for normies"
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Since this is a speculation thread, I'm calling 10,000 in the next 24 hours... Grab (another) bag of popcorn folks.
Wow. I was totally wrong. Haha.  oh well.. based on this.. how much you sellin' popcorn for? *Don't worry..2017 shall be the year that i'll be munching on FOMO Popcorn.. off to a good start, so far i'd say.. |
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Bitfinex data shows Longs positions went down 11,000BTC during the drop,
I believe we have witnessed a long shake out, presumably poeple set "stop gain" orders, then price fell, which triggered the some of the longs stop loss, which pushed price futher down, which triggered more stop loss/gain. ( which is why the drop was so fast and furious )
a few more shorts have built up during the flash crash. shorts have been rather high ( and slowly building ) ever since 815ish.
overall i am glad to see longs take profit, little surprised at how much was wiped off the table, but this is gr8.
Long shake out is right... It shows how thinly overall this market really is.. but we know this.. this is bitcoin. Sadly i'd no fresh fiat waiting.. but my girlfriend did!!!.. at €950 and €850.. She did well.. I could only sit at work watching red candles growing longer.. coins locked up at home. And now? <insert meme of woman crying here> my bitcoins are only worth what they were worth 4 days ago (after a good rise)... |
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Ok, Lets not freak out just yet...
Just a couple of weeks ago.. I saw the BTC market cap (i hate that term!) pass the old ATH 13,6B
Then it passed 14,15,16, (then the hit articles started coming) 17, 17.5 - touching Gold now.. passing it.. 18 Bn.. 18. something billion....
then a correction.
All so fast..
Then back at 16.75 now.
What's the problem again?
It's gone back over $1000 for the last few hours, and it was below $600 last summer. There is no problem. The bears say it might go down to $700 or $800 before more up, and the bulls say more up with little to no ore retrace. Either way it's going up in the long run. I'm bullish as hell and can see it bouncing around 900-1100 range for the next 1-3 months. (or it could Moon next week or two) I would have no problem with that. I was happy when we were sitting at 750.. This is from the supply shock from halving. This is supposed to happen. The higher we float while we consolidate here.. then whopeee. 14B or 18B - i don't care.. so long as transaction# and hash rate and difficulty are rising.. its all good. Price is a side effect. Buy cheap as you can, by all means. Long term 4-8 years (2x block reward halving events) if it's all still working..if you can hodl on that long.. Then its a binary thing.. Give me Moon or give me hell... |
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Ok, Lets not freak out just yet...
Just a couple of weeks ago.. I saw the BTC market cap (i hate that term!) pass the old ATH 13,6B
Then it passed 14,15,16, (then the hit articles started coming) 17, 17.5 - touching Gold now.. passing it.. 18 Bn.. 18. something billion....
then a correction.
All so fast..
Then back at 16.75 now.
What's the problem again?
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I'm just waiting for the next fresh round of bitcoin obituaries..and the claws to come out...
Then we can go up again..
Wailing and gnashing of teeth makes bitcoin rise..
This will get salty.
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Next few 24 hours will be critical for the price going up or down, so far it's looking good but the situation could change quickly. Been holding since 800 USD so not much of a loss for me either way. It's either back to around 1100 or back down to the mid 900s or lower.
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Longs got crushed just below the Bitcorn ultimate ATHs in USD (1163 on Stamp and 1175 Finex). It seems totally expected given the quick price rise of the last week coupled with the euphoria of approaching ATH, people went margin long. Some whale(s) simply took advantage and made a killing.
IMO we will be back over 1k USD in a day or two and the Honey Badger will continue to do what it does best.
We're back already. (stable or not is questionable, esp after today!) The next 24 hours are critical TM |
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There is another halving event in 4 years..
And another one in 8 years..
If bitcoin is still around then and still working! (probably improved by then) ..then I think it will be worth an absolute fortune.
You need to be thinking long term. Short term profits are nice.. you should always hold some though, with a long term view.
8+ years.
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Last chance to buy under $1000 :p
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I love a good old fashioned shake out of the weak hands...
Sell now when you have the chance! Quick, panic, sell... it'll NEVER go higher...
Meh...
In fairness though, that is some pretty good dumbage...
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Read a brilliant tweet in recent weeks, can't seem to find it now, so again paraphrasing:
Bitcoin was invented because banks didn't trust one another.
Then they went and built R3 to prove it!
That's hilarious! I'm not across the detail of Corda enough but suspect anyone on that ledger is taking horrible counterparty risk due to lack of transparency. Which may be part of the reason a number of banks have pulled out. Without getting into the nuts and bolts, the whole project is a mess of mistrust..it looks destined to fail. The tweeter was none other than Vinny Lingham. |
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Hi. I work with financial institutions and Bitcoin is still a dirty word to them. I'm not supporting that point of view - just saying what I am seeing. Also the banks are hell bent on building their own alt-coins. They just haven't figured out that no one will trust a private ledger. You can thank Mike Hearn for that one. The R3 / Corda technical white paper was released about a month ago.
And probably will remain so for a while yet, or until it is obvious to even the most ardent opposer that it will come to pass this way, whether they like it or not (which is irrelevant btw) Something about a permissionless distributed ledger (let's call it that) in that the permissionless part don't give s shit if you like it or not.. or if you like the name or label..etc.etc. Read a brilliant tweet in recent weeks, can't seem to find it now, so again paraphrasing: Bitcoin was invented because banks didn't trust one another. Then they went and built R3 to prove it! |
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