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I would say most of the sales were from the newest influx of buyers, who havent experienced the lag or volatility of the market before. They are likely to have the least understanding of bitcoin and thus be the weakest hands.
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Can't you just add more decimal places?
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I don't buy it.
Massive DDOS doesn't cause a lot (or just a few) of people to decide to sell a huge volume.
We had DDOSes before and it merely made it slower to either purchase or sell the coin.
We had big volume dumps before big DDOSes, it was just lower price and lower volatility.
Ddos causes lag and failure of bitcoin exchanges, and initial sell off of the traders anticipating the drop. This drop scares the weakest hands who scramble to log in and sell, increasing lag and so on in a feedback loop. |
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Buy more than just MTGOX failed. This forum went down, bitcoinity, bitstamp. It felt like a well orchestrated ddos intended to cause panic
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Do they even know about the lag? They seem to be proceeding with all these other projects, while neglecting the underlying fact: if mtgox doesn't work as an exchange, then it doesn't matter if i can access it on my phone, or if i can buy Trollcoin there.
The other exchanges must be preying that they do this.
I'm kind of hoping that they do, if only to quicken their demise and get a better run exchange to market leader.
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The log scale is your friend
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We don't need a central bank for POS transactions, we just need reputable intermediaries such as bitpay
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If you are concerned about holding bitcoin, don't hold bitcoin. Let Bitpay convert for you and relax
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Cool stories bros.
Can we confirm/deny the validity of the title of this thread?
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It's not the cypriots. It's people from the other european union countries being aware of the impending doom, increasing diversification and taking money out of savings in case shit goes down. Don't look at bitcoin in cyprus, look at it's growth in Spain and Italy, they are next under the knife.
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$1 = 10 BTM
BTM is an abbreviation for "bitmill" which just needs to die. You don't say "that bug is 5 metermills long", or do you? If it was a virtual bug i might. When i use it i say "BTM" not "bitmill". I think it's a clearer distinction from BTC than mBTC. I think "i'll give you 20 b-t-m" is clearer than "I'll give you 20 millibitcoins" or "20 m-b-t-c". People are not used to thinking in fractions, we need distinct units like dollars and cents, not fractional units like dollars and microdollars. uBTC and mBTC is particularly easy to mix up. |
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And it's not being confirmed because...?
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Centralize all the big players in bitcoin to a single location. In America. Genious
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This forum gets trolled easier than any other
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It would make quite a few of us super wealthy. If the fundamentals of bitcoin are still intact, ie the only thing difference being the price, there will still be a significant number of people that would only see the low price as an opportunity to buy more, never intending to sell.
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hang on i'm confused. So your saying i should sell because the price will fall? Or buy because the low price will be artificial?
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Bitcoin is growing faster than the infrastructure can grow to accommodate it, but outfits like mtgox are exacerbating the problem. I'm 90% sure they will not be around in 4 years. They've had the time and they have the revenue to sort out the trading lag and general unreliability. There is money, A LOT of money, out there to be scooped up by whoever can get a group of good programmers together to build a robust exchange.
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I wouldn't think so, my transfer was initiated and completed by TransferWise earlier this week, way before the bank holiday. Just waiting for bitstamp to credit my account
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