Unless they are doing something fishy like front running, there absolutely had to be more buys than sells. If everyone was selling coinbase would have an excess of coins and little fiat. If everyone is buying they have extra fiat and no coins. It's a simple exchange of goods and they take a cut in both directions. You're right, most people will not be buying from coinbase until they get an official market price again.

If you have demand and you cut of supply, what generally happens to price anyways?

And don't forget that some of the people that wanted to buy off coinbase will now be moving to other places such as their bitstamp account, localbitcoins, mycelium local trades etc etc.

And coinbase will now have to buy more coins off bitstamp...adding some buying pressure.

@Adam and the poll ...

What means "short term" to you ? is that 15minutes or a day or a month ?
You definitely should specify IMO.

This. I changed my position to short at about 514 a few hours ago when we crossed trend lines... I am kicking myself for not doing it sooner. We have more to drop.

Also, buying pressure will be depressed because of Coinbase and leverage pressure will be depressed because the change of policy of Bitfinex soon to go into effect. In a nutshell... more blood, guys. Wish it wasn't so. It was nice while the party lasted.

P.S. -- Don't take my trading advice on face value. I am a Newbie. I've done ok the past few days, but am a couple percentage points down. I am a pretty smart fellar, but I am still learning the ropes a bit.

Consider a place that sells bitcoins "off the shelf" and runs out of BTC.  If they expect the price to fall several percentage points "soon", it is better for them to turn clients away than to buy more BTC to replenish their stock.

Conversely, if they have a stock of BTC and expect the price to rise significantly "soon",  they will be tempted to tell their customers that their stock ran out.

So, if those reports of (BTC sellers running out of stock) are true, which explanation will be the true one?

That was before they invented television and Google and the takedown notice...

Wow. Three equal asks totaling about a half week's average volume for Virtex.

Obviously the same person/group. I wonder who.

This place is such a cult like atmosphere, mocking people who want to get out after losing a substantial amount on their initial investment. cognitive dissonance at its finest. I'm worried what it will be like when price drops into the $300s... just don't drink the kool-aid, please.

i loged in just now

no problem on my end

try clearing your browser cache and try again.

holy shit such walls at 600 on virtex  , i don't care, i'm bidding high cuz i'm pissed off now.

also good news everyone i have more then DOUBLE the fiat i thought i had.

want some?

 

its our turn now!

make it count.

here comes my last 52 dollars!

fuck.

... We’ve chosen Bitcoin as it is an established and widely recognised digital currency.

Were we faked out? Daily still even looks bullish, but it feels like we're slumping again. Not looking forward to a retest of 550s..... onwards and upwards....

 

Petahash security is arguably excessive and a misallocation of capital.  Unfortunately BTC creates a perverse incentive.  This has been discussed ad nauseam.  The alternatives so far are unappealing or unworkable.  Alts may yet justify their existence as a class by finding a more adaptive mechanism or a superior security model.

totally NSFW, i guess there is no mods around or they have completely given up on this thread.  

rant about BitLicense

BitLicense is a good example of just how fucked up everything is

Ben Lawsky said he would not over regulate, he said they would be very minimal rules even less then current AML laws. to make sure NOT to stifle innovation, he must of said "NOT stifle innovation" at least 21 million times. and now people are talking about how it might necessary to just not service NY customers, because of his proposed laws. lol.

I can only hope some of it gets rewriten, but still, I'd like to thank Mr Lawsky, for being such a prime example why no one should trust a word this goverment says. not a word, never.

USA, you've totaly let the whole world down. for a time we looked up to you, because you valued freedom as priceless, oh you still talk the talk.... but its all fucking lies.

SUCH A SHAME!

bitcoin is the new beacon of hope and freedom!

It seems to be all manipulation attempts with no panic selling. To do it right you need to have fake bad news and then dump to create panic and buy in cheaper. You don't just sell for the fuck of it. Silly manipulator.

Yeah, seems I scrolled past that section, sorry. "TL;DR"  

I'd be buying here too, but I acted too quickly, and spent all my fiat weeks ago at ~636

550 is a pipe dream

monkeys across the globe are waking at the thought

its not going to happen people....

We'll all remember it fondly as The Great Page 7777 Pump n Pump of 2014.  Sigh....   The good ol days.