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So today was supposed to be the day Gox switched the system and would only allow bids if the wallets were funded. Do we have any confirmation that this change has happened? How will we know?
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You guys gave me a heart attack until I realized that it's back in 2012.  SHOULD'VE CHECKED THE DATE, SIRE!!!! Shit, I've been dying to do that  |
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What would happen is that I would suspect we've suddenly shifted to a parallel universe... Now, in a couple years, maybe  |
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Thank you bulls for once again allowing me to sell over 100. Please get it above 125 shortly.
Says the guy who sells at any price. How many coins did you sell at $5? Well in this post he sold 30 BTC around $5 (approximate time of the post). LOL look on the bright side, its still worth twice as much as a dollar I doubt that will be the case for long. I decided to sell 30+ BTC just now because I am
tired of holding them and watching them lose value. Better to get something out of it now
then to see it worth 50% less in a couple of weeks.I can always mine more since I get free power but even then it is quickly becoming not worth it while the hardware depreciates. We should all thank him from the bottom of our greedy hearts for all the coins he's undersold. |
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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. |
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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 |
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That is simple. Nobody wish to play this turn-based game seriously.
Even simpler: it's the weekend |
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Haha, brace yourselves for another DDoS, price smack down, and new lows.
Uuuuup we go! |
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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 mybitcoin.com. 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 localbitcoins.com. Not a speedbump, more like a moat that has to be crossed after we've built the bridge. |
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Someone really doesn't want Bitcoin to succeed.
Either that, or it's one hell of a coinkidink |
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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. |
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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 $1 over the weekend so that I can actually buy it (could care less about exchanges that lag or do not allow trading), I will be the first to buy for my entire business income.
If every day I increase my bitcoin holdings by 0.15%, it will take less than 20 years for me to own all the bitcoins.
Sounds like a plan.
Generally, I agree with you rpietila, but MtGox has become a truly serious problem. Every chance they get to make a choice, they either make the wrong one, or they make the right one but so late as to effectively turn it into the wrong one. You have to agree that this bunch of amateurs does somewhat soil the reputation of Bitcoin for those who don't fully understand that Bitcoin isn't just the exchanges or the exchange rate. If there is a silver lining to all this, it's that with any luck people will start flocking to other exchanges. If I were Coinlab, Coinbase, BitPay and Bitinstant, I would seriously consider diversifying. |
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i mean they should have done this yesterday when the mess kicked off. Halting it now when they said they had a ddos attack 4 hours ago is just incompetent again. But hopefully they are going to improve something now.
This will only drive the price FURTHER DOWN when the fucking trading resumes... Mark, you are an idiot.... It seems like a catch-22 to me. The lag was already starting to pile up again, and the price accelerated towards 100$. 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. |
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i think it's great they halted trading, only happens to be about 36hrs too late. MtGox.com @MtGox 12m @awad_ziad Hello, We are upgrading our database. Trading will resume afterwards. http://bit.ly/YoCqON 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 |
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Someone's trying really hard, and someone else (hopefully) is picking up some cheap coins. Good for them!
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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 Ok.. you know what I mean... Haven't you heard? Bitcoin's been dead since around August of 2011. |
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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. |
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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.
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how have you been preparing for single digits?
By calling for them several times a day, with remarkably little success. |
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No, of course not. The top three USD exchanges plus bitcointalk all going down at the same time was just a coinkidink |
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