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321  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 13, 2013, 10:05:16 PM
I'm very impressed so far.

By the time this is over there won't be many panic sellers left. Only going down to $85 during 50 minutes of lag is pretty good, especially during a weekend after a big crash.

Also very nice to see Gox putting in measures to prevent this manipulation, both the cooldowns and limiting the number of orders per account. Hopefully the changes on the 17th will help reduce lag build up.

This! Fully agree, I was impressed by the markets strong/steadfast reaction and by Gox's eventual staggered-cooldowns. I think that should become standard after 10mins of lag is hit. Stagger them out. Worked magic this time.

I still think Gox isn't fit to run a hot dog stand, let alone a multi million dollar business. That being said, they could implement the changes now, as opposed to April 17, and somewhat restore the trust.
322  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 13, 2013, 04:05:28 PM
Having been a long time reader of this read/forum, probably too long/too much time spent and lurking on here for a while. Just wanted to say that many of you provide some brilliantly comedic moments as well as some insightful comments.

For what it is worth I am Long/Bullish. But aware of the potential for shit to hit the fan, having seen it grow from nearly the start.

Also, I just wanted to bring this back into peoples heads since we are looking at charts, or supposed to be, but this is looking awefully similar to the 30d charts of BTC

In this market cycle, Where are we now with bitcoins , ....according to you

Also, where is the chart with cell phone adoption?

Meh, charts are the last refuge of a small mind  Cheesy
323  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 13, 2013, 04:03:49 PM
That is simple. Nobody wish to play this turn-based game seriously.

Even simpler: it's the weekend
324  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 12, 2013, 07:09:27 PM
Haha, brace yourselves for another DDoS, price smack down, and new lows.

Uuuuup we go!  Grin
325  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 12, 2013, 06:45:34 PM
Considering the substantial parallels with the June 2011 bubble, I would say that any support at these levels, i.e. 76, is not going to hold. The primary reason is identical with the last time - the onetime flood of new bitcoin buyers is going to dry up. There is only bad media about bitcoin, e.g. no new all time highs to report - now just the crash and how Mt.Gox messed up, same as last time.

I doubt you were around for 2011. If you were, you're clearly trolling, in case you weren't, here are a few differences between then and now:

1) Money's still pouring in. MtGox ask sum up past 11 mil and rising as of a few minutes ago.

2) In 2011, the hack against MtGox was successful in executive all sells, all the way down to a few cents. Trading stopped, not for 12 hours, but for a couple weeks.

3) The difference in media coverage between then and now is simply astounding, both in quantity and tenor.

4) The 2011 hack came close together with two other major disruptions to Bitcoin, the theft of a large sum of BTC from allinvain, and the debacle with

5) The ancillary network of business, companies and VC that surrounds Bitcoin today wasn't even in its gestation period back then.

Will the price drop this weekend? Quite possibly so, though it's also possible it will hold, like it did last weekend.

If MtGox gets its act together (an enormous IF, btw), this will be a speedbump, nothing more. If MtGox doesn't get its act together, it will require a shift in mindset from Gox to alternate exchanges and off exchange systems like Not a speedbump, more like a moat that has to be crossed after we've built the bridge.

326  Economy / Speculation / Re: Why all shit happens at once? on: April 12, 2013, 06:38:20 PM
Someone really doesn't want Bitcoin to succeed.

Either that, or it's one hell of a coinkidink  Wink Wink
327  Economy / Speculation / Re: When we will make new ATH? on: April 12, 2013, 03:54:46 PM
4 years, in other words the period between each bubble doubles

You're in the right frame, but 180 degrees off. In about 9 months. The period between bubbles (actually, the period between forced crashes) halves.
328  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 11, 2013, 03:29:41 PM
Last time I checked, the network was up. Blocks were being generated at about 6 per hour.

Yesterday during the crash, I withdrew BTC2000 from Mt.Gox in about 2 minutes. Everything worked perfectly. (Do not assume this was my funds as I do have a lot corporate accounts also.)

My business currently generates about 0.15% return on capital daily. Annualized, that is a mind-boggling 72%. As I keep all my funds in silver and bitcoins, the value appreciation comes on top of that. Very seldom can I generate such a return, my average over 10+ years is 15%.

I can still both buy and sell bitcoins for cash, and not long time ago I made a 26% spread on two 1000+ OTC transactions in 1 hour.

Silvervault opened bitcoin accounts for all its customers. Today's price was 40% lower than yesterday, giving a rather low-risk entry point for 800 investors currently 100,000 ounces long in silver. Silvervault can trade your physical silver for bitcoin for a click of a mouse in 190 countries.


I think this has been a great week.

I may as well have a weekend effective immediately. If BTCitcoin price somewhere goes to $1 over the weekend so that I can actually buy it (could care less about exchanges that lag or do not allow trading), I will be the first to buy for my entire business income.

If every day I increase my bitcoin holdings by 0.15%, it will take less than 20 years for me to own all the bitcoins.

Sounds like a plan.

Generally, I agree with you rpietila, but MtGox has become a truly serious problem. Every chance they get to make a choice, they either make the wrong one, or they make the right one but so late as to effectively turn it into the wrong one. You have to agree that this bunch of amateurs does somewhat soil the reputation of Bitcoin for those who don't fully understand that Bitcoin isn't just the exchanges or the exchange rate.

If there is a silver lining to all this, it's that with any luck people will start flocking to other exchanges.

If I were Coinlab, Coinbase, BitPay and Bitinstant, I would seriously consider diversifying.
329  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 11, 2013, 02:59:13 PM
i mean they should have done this yesterday when the mess kicked off. Halting it now when they said they had a ddos attack 4 hours ago is just incompetent again. But hopefully they are going to improve something now.

This will only drive the price FURTHER DOWN when the fucking trading resumes... Mark, you are an idiot....

It seems like a catch-22 to me. The lag was already starting to pile up again, and the price accelerated towards 100$. So i guess no matter what they do, they take the risk of inducing another big drop.

I wonder what the guys from MTGOX were doing during the last 20 hours? Were they asleep? Were they sitting there waiting for the problem to fix itself? And why did they only now decide to take action? Puzzling...

Because they were making more money in fees than ever before. People really, really should stop using MtGox.
330  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 11, 2013, 02:42:49 PM
i think it's great they halted trading, only happens to be about 36hrs too late. ‏@MtGox 12m
@awad_ziad Hello,

We are upgrading our database.  Trading will resume afterwards.

i very much doubt it but i pray that they might actually improve something, but we can only hope

36 hours for upgrades?

They really haven't planned this stuff out?

i believe its 12 hrs.
It will be back 11pm EST today

10 PM EST, if they're actually coming back at 0200 UTC
331  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 11, 2013, 02:03:59 PM
Someone's trying really hard, and someone else (hopefully) is picking up some cheap coins. Good for them!
332  Economy / Speculation / Re: Is it actually over? Or are we going to see a gradual decline like last time on: April 11, 2013, 02:29:53 AM
Look at the charts from the 31 bubble... It didn't crash all the way overnight, but it never recovered.

I don't have the confidence to buy yet.

Ya, it sucks that it never recovered.

lol Cheesy
Ok.. you know what I mean...

Haven't you heard? Bitcoin's been dead since around August of 2011.  Cheesy
333  Economy / Speculation / Re: You do realize there will be no stopping it now...right? on: April 11, 2013, 02:28:26 AM
the "crash" is over people. if you didnt have your useless fiat money ready on exchanges, then you've lost out. back to 200's by tomorrow.

I doubt that.  There's some 12k BTCs to 200 right now.  By tomorrow that will have increased quite a bit.  By next week, there'll be enough resistance built up to 200 that it'll look impossible to get through.

Oh noes! You mean we've already seen the all time high, Proudhon? Say it ain't so... Say it ain't so.
334  Economy / Speculation / Re: Is bitcoin really deflationary? Why I think the 21M cap is illusion. on: April 11, 2013, 02:24:03 AM
Fiat doesn't mean what I think you think it means.

Other than that, none of your analysis pertains to Bitcoin, but rather to what could (or not) be built on the basis of Bitcoin.
335  Economy / Speculation / Re: thoughts? on: April 11, 2013, 02:15:48 AM
how have you been preparing for single digits?

By calling for them several times a day, with remarkably little success.
336  Economy / Speculation / Re: Let me guess, they will blame this correction on a DDoS...... on: April 10, 2013, 06:15:16 PM
No, of course not. The top three USD exchanges plus bitcointalk all going down at the same time was just a coinkidink  Wink
337  Economy / Speculation / Re: Gox Should Halt Trading on: April 10, 2013, 05:35:48 PM
Whether Gox should stop trading is not even that relevant. People should stop using Gox. That's really all there is to it. There are alternatives out there, use them.

338  Economy / Speculation / Re: So many week idiots ;( on: April 10, 2013, 05:27:06 PM
This is rather healthy, a little pause here for a week or two would be great.

I highly doubt this will turn into a two week pause, Vladimir. Two days, maybe, and since that puts us at Friday, perhaps going as far as the end of the weekend. But this is orchestrated, and if it's orchestrated, it has to be for a reason. Unless you're buying into the theory that the US FED is in cahoots with the Chinese and the Europeans to bring Bitcoin down (and that's too tinfoilish for my taste, let alone the fact they wouldn't be able to organise a fart concert in a public restroom), I think we're heading back up in the next 24 to 36 hours.
339  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 10, 2013, 05:12:23 PM
Everyone holding strong?
Are you watching the charts?  No ones holding strong, it seems like every single person with a god damned bitcoin is dumping them

You haven't been around too long, have you?
340  Economy / Speculation / Re: First signs of exhaustion of current trend on: April 10, 2013, 02:03:41 PM
If price breaks below 240 may confirm reversal or trend or beginning of a correction.

Otherwise, be aware of a double-top at the 266 level, which could confirm exhaustion of current trend.

So if the price goes down, crash.
And if the price goes up, crash.

Got it.

This has been the bear argument since $15

You haven't been around long enough, mccorvic. Bears have been making this argument since parity with one USD.
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