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Well it was quite a drop, and I wasn't happy to see it. But it's fairly typical for Bitcoin lately.
Oh I was happy indeed, I had dollars ready for days, just waiting for this correction
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my bank even blocked a transfer from my UK account to my own USA account, even if both are registered to the same name...
Bloody bankers, is not what we are trying to avoid with bitcoin?
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In this moment just dumping 4k btc would give us 150 on bitstamp, there is no volume...
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Don't count your horses before they're hatched. This doesn't look like a reversal of the market; more likely it's a single trader dumping their half-a-million bucks worth of BTC. The critical part is what happens in the next few hours.
A single trader dumping on btcchina gox and bitstamp at the same time?
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damn how can I sleep now there is a chance to cheap coins before I wake up in the morning
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answer to OP: right now
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November 12th 2013 it may be under 100$, if no new fiat enters the markets.
Do you ever get tired of being wrong? Are you able to think ahead a bit? Once this craze is over and it will obviously go down after the very peak, every holder is going to want to sell close to the peak. I believe we'll see an avalanche of coins, maybe up to 100k more coins into the market. It only takes 1 hour to transfer coins to the exchanges, but days to transfer fiat (if it's not already there). So for a few days the price will drop dramatically, and if not enough fiat will enter to compensate and resume an uptrend, we may end this year under 100$. true. i'm hopeing for this. i need to buy... +1 (it sucks to have only dollars in the exchange when price skyrockets)
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That's because there is hardly any bubble this time. Last time it $10 to $260 in relatively short time period. Price should be at least at $500 before we can even began to talk about bubble.
I think this is not true... We had a jump $140 to $200 in about 24 hours, and then another jump again $200 to $260 (and back to $60) in another 24 hours. It was definitely much slower in the weeks and months before that. Now we moved $155 to $195 in about 24 hours, that is definitely not normal growth. The only moments bitcoin had this growth EVER was during the bubbles. (excluding dead cat bounce after a massive crash) If you compare side by side the April bubble with the current one, you can clearly see where we are. This speed of growth $140 to $200 is pretty much the same as the part of the previous bubble from $60 to $120. What happened next was a mad jump doubling again $120 to $240 in . If this is any similar we can see price skyrocket to over $300 or $350 in the next couple days, then badly crash, probably to $100 or so. I suppose, if price is rising $200 to $250 in more than a week or so, then we are almost safe, and the bubble may touch $500 as you say, but that is when it burst, not when we "begin to talk about bubble", as we are just in the middle of one.
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0.01 btc since you and the baker agreed on the 100$/btc exchange....
and you seriously believe the baker will not be forced to update the agreement all the way to 1 million? goods are priced in fiat, and always will.btc price will always be converted to the "official price". Unless you think the governments will switch to bitcoin as the official currency, and then the exchange rate would be pointless.
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order At the very least it caps your slippage. That in english translates to "at the very least prevent you from buying". Try this little experiment: put a market order when price is 90, and a limit order at 95. A few minutes later price is 100 and the market order gets executed, but the limit order will be still there. market order -> slippage, limit order -> no buy Now I don't know if Gox works in a weird way, but this is how it is on bitstamp, market orders get always executed first, and not even all of them. Uh, yea. Thats the entire point of a limit order. Try this little experiment: Put a market order when price is $90, and then something weird happens and the price goes up to $200 (theoretically, I'm not saying this'll actually happen). Suddenly you are getting a "bad" price. Or, if you had put your limit, at someplace somewhat reasonable, like $100, you would maybe have gotten a good at a good price, while not getting any screwy rip-off prices for the rest. Why in hell would you want to end up with your USD still in your account after the price raise $30 and your limit orders still untouched (and obsolete)? I really don't get what you gain from waiting that price is back to the high levels as before the crash... Unless you don't want to have cheap coins, people have strange fetish.
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order At the very least it caps your slippage. That in english translates to "at the very least prevent you from buying". Try this little experiment: put a market order when price is 90, and a limit order at 95. A few minutes later price is 100 and the market order gets executed, but the limit order will be still there. market order -> slippage, limit order -> no buy Now I don't know if Gox works in a weird way, but this is how it is on bitstamp, market orders get always executed first, and not even all of them.
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic...
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I did I had orders at 85 and 80 too. But. Lucky bastard I had a small order at 120 and didn't delete quick enough, then I put an order at 90 and only got executed at 100 :O boohoo Now you better stop bragging before some people start beating you with wooden sticks
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Holy crap I totally missed all the cheap coins! You look away for one day and insane discounts are everywhere!
Wrong: You look away 10 minutes!! DAMN IT
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For a small moment bitstamp price was ABOVE gox one, like the only time in the last 6 months...
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NO NO DON'T STOP!! MORE MORE PANIC SELLING PLEASE!!
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It is so overloaded orders got $5 to $10 slippage
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Every week I sell everything that is not in cold storage. And then buy back, sell, buy... it is "disposable play money". If the value of BTC becomes so high that play money becomes serious money, I will move some to cold storage until it is play money again.
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Love the depth of the OP I backtested Bitstamp data for 1 and 6 hours candles, didn't change the fee assumption even if there is a lot smaller fee to pay (0.4% vs 0.6%) but a bit more slippage that may compensate that. One thing I noticed, the "strange beast" EMA5/1 gives me negative results for 6 hours... EMA 20/6 is still quite good even for 6 hours candles, while hourly candles are weak in general, as I would expect. Would like to test 2h intervals at some point.
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I don't understand. You mean the whales should sell at a cheaper price? If I did this and sold say 3k BTC for $100/ instead of $130/ I would receive $300,000. That is leaving $90,000 on the table. Why would I do that? That is not how you get to be a whale.
Are you reading the same thread as all the others? Or you just make up numbers in your mind? Who said that whales should sell at 100? where where I want to buy there
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