Selloff!

[DATA COMMANDER]

I hope it drops back down to $10 so that I can buy some for the price that they were going for when I started the process of getting some money from my checking account to MtGox.

[1713573207]

1713573207

[1713573207]

1713573207

[1713573207]

1713573207

[1713573207]

1713573207

[venom]

I just want to say thank you to all the panicked sellers.  We're going to move some major money as soon as selling slows down, and make a killing on the way back up.  I love human fear... because it's so easy to predict and profit off of it  

[Bazil]

yeah I wish I had some USD I'd be buying on mtgox right now, it's all in BTC so I just have to wait this out. 

[Insuremeplz]

This thread alone probably had a pretty intense effect on the selloff. It's crazy how easily the market can move.

[swusc2]

Market Depth is evening out. The value in the Bitcoin is stabilizing, the impossible growth from $9 to $30+ was inevitably going to fall. While this sell off is quite dramatic its prime opportunity to buy, it shows the market potential without having to wait too long for the bubble to stabilize to normal expected growth.

[dacoinminster]

The DEA is coming!! The DEA is coming!!

They have warrents! They'll close your bank account! You'll go to jail!

SELL SELLL SELLWLLWSLWSLW!!!!!!

[underjeep]

ITS GOING DOWN!!!!!!! SELL SELL SELL!!!!!!!!!!!!!!


its GOING BACK UPPPPPPPPP!!!!!!!


BUY BUY BUY BUY


that scene in the simpsons with martin buying Soy at the stock exchange finally makes sense

[imperi]

Everyone sell everything for a straight week, until my new funds clear!! :-)

[Astro]

I'm buying a bunch at 20.. Sell to me!

[shady financier]

Don't you get it? we aren't going to "cash out." ever. Bitcoin is money. we're cashing out of FRNs.

It is this attitude which will allow bitcoin to become the success we are dreaming of!

Yes, yes it is.

Massive Shout Out to the Fundamentalists.

[piuk]

Looks like a stand off between buyers and sellers, lets see who moves first.

[hazek]

There are 4 times as much selling as there is buying. 

You do realize that that picture means absolutely nothing because of dark orders?

[bitcoinafrica]

I have no issue with a "crash" -- it only hurts speculators or people trying to make a buck (or a euro, or a ruble, or whatever).

I fundamentally believe in bitcoins as a currency. If anything, the recent attention from the finance world and politicians only helps legitimize it as a thing of value--if it had no value, there would be no fuss. There are people putting money into bitcoins that aren't just "enthusiasts". We've crossed over. If there's a "crash", it's only because of irrational exuberance (or the long arm of The Man). The fundamental value--there are people who want bitcoins--still exists.

Even if the government gets involved, the nature of bitcoin means it can't be killed. And even if bitcoin falls back into something just for "enthusiasts" and loses much of it's newfound "value", I for one am proud to be an enthusiast (even a poorer one )

[Bit_Happy]

This happened within less than 5 seconds

The bids and asks are almost the same...
{"ticker":{"high":31.9099,"low":19,"vol":113866,"buy":23,"sell":26.8,"last":28.8}}

{"ticker":{"high":31.9099,"low":19,"vol":114448,"buy":22.8897,"sell":26.4,"last":22.8897}}

A last sale went through at 28.8 then some how 22.8897 in a flash!

[swusc2]

Crap...someone just ninja'd all the cheap Bitcoins. I was hoping for it hit $22 before rebuying.

[darkwon]

Yea, there's a huge gap between 23 and 30, prices can go anywhere in seconds, never seen such a volatile market...

[swusc2]

Yea, there's a huge gap between 23 and 30, prices can go anywhere in seconds, never seen such a volatile market...

How many markets have you seen that are less than 2 years old?

[nebiki]

so, what happened today? my theory:

A bought coins for a lot of $
A waited for the announcement
A sold all his coins (probably at the same rate at which he's bought them)

if i had a few bil on my bank account, i'd do the same. just to scare some people. can anyone disprove my theory? is it not possible to invest a lot of $ at once on mtgox etc? maybe he's ddosing everything related to btc, too.. because i sure have some trouble browsing the web.

[Mafioso]

The "wealthiest" account on Bitcoin holds 297,000 bitcoins... At a $30 valuation it is worth $8.9 million! Is it safe to assume that it belongs to the creator of Bitcoin? Quite a smart guy I must say. His/her wealth may even be spread across many accounts... It's quite disturbing that one person holds at least 5% of Bitcoins wealth.

Could a small sell-off from such a wealthy individual cause this much volatility?

[imperi]

I think it was intervention of the U.S. government. They pulled out ENIAC, dusted the mothballs off, and set it up to mine. The influx of hashes caused a flurry of chaotic activity in the markets.