The Fleecing of Mt. Gox

[MatTheCat]

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool.

Hmm.

I don't think I shall subscribe to your market analysis service then.

[EvilPanda]

Crowd mentality is sometimes hard to guess, I'd say if they open transfers, people will buy back to be close to the average and then move to other exchanges. At least that's what I'd do. If they don't, price will continue falling, as people pefer to have $ not BTC in case this goes to court.

[MoreFun]

Crowd mentality is sometimes hard to guess, I'd say if they open transfers, people will buy back to be close to the average and then move to other exchanges. At least that's what I'd do. If they don't, price will continue falling, as people pefer to have $ not BTC in case this goes to court.

Gox will probably limit the BTC withdrawal amount.

[prophetx]

well at least they haven't gotten hacked and had a bunch of btc stolen

not yet at least

[AceOfWands]

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool.

Hmm.

I don't think I shall subscribe to your market analysis service then.

Damn, wish I'd guessed differently myself. I held on to my 2 BTC, having canceled my sell order at 520 because I didn't want to play. Now they are down to half that. Doh! Doesn't prove the market isn't being manipulated though.