Bitcoin in RALLY mode

[BioMike]

Please note that Bitcoin was also on the frontpage of Freshmeat.net yesterday (I created a record for it).

[kiba]

I think the price movement is solely due to the Bitcoin article which is still on the front page of www.fsdaily.com

This created a small extra demand at MtGox, plus a bigger extra demand from existing Bitcoin users who speculated by buying some extra coins before the fsdaily users arrived.

It could be any number of things.

For example, a new casino mmo just poped up. Probably some ATITD users are looking to cash in on what they earn.

If there are any new services that manages to pop up during the bitcoin rally, it will probably drive up the price higher again....

[Babylon]

I notice bitcoinmarket is a lot cheaper than mtgox, or at least seems to be.  Is this an arbitrage opportunity?  Or is it just that the buyers aren't offering the price the sellers want?

[S3052]

bitcoinmarket is kind of dead.

MtGox is highly liquid and preferred by most people.

Most people trading have moved to MtGox. this is why the market is so thin on bitcoinmarket that it is highly risky to trade there. the spreads are far too big.

[jgarzik]

bitcoinmarket is kind of dead.

I respectfully disagree, and I think most LRUSD traders would, too.

[FreeMoney]

ALERT: DWDOLLAR POSTED A SCAM WARNING IN THE MARKETPLACE

[S3052]

This warning seems to be not substantiated at all.

People should not look at the small exchanges as they are just not liquid enough.

I checked my account on MtGox and it is all perfect.

[kiba]

I don't think the current situation warrants the great optimism on the market at all.

It's just weird to me even with the positive news that has been circulating in the economy.

[S3052]

You forget that this is how ALL markets work. They are ALL emotional and there is herding.

We need to be be careful to avoid thinking that BTC could be having a stable exchange rate.

[jgarzik]

This warning seems to be not substantiated at all.

People should not look at the small exchanges as they are just not liquid enough.

I checked my account on MtGox and it is all perfect.

As dwdollar noted, the problem is occurring on other exchanges as well.

[FreeMoney]

This warning seems to be not substantiated at all.

People should not look at the small exchanges as they are just not liquid enough.

I checked my account on MtGox and it is all perfect.

Dwdollar runs bitcoinmarket so he would know. I don't think he said anything about a problem on Mtgox.

[jgarzik]

Dwdollar runs bitcoinmarket so he would know. I don't think he said anything about a problem on Mtgox.

dwdollar said "Other exchanges are reporting similar behavior."

mtgox noted he was refunding fraudulent PayPal transactions, on IRC.

[kiba]

Well. We experienced another day of volume record breaking. I think for the first time, we actually exceed slashdot era price record.


What can I say? It's absolutely nut.

[Anonymous]

People cant buy gold and are fleeing the US dollar. Bitcoin is the next best thing imo.

 

also this - http://bitcointalk.org/index.php?topic=1396.msg16154#msg16154

[jgarzik]

From http://www.bitcoinwatch.com/ ...

Total bitcoins sent in P2P network, past 24h: 210973
Total bitcoins traded at mtgox, past 24h: 222710

[wscott]

The remarkable part is the high/low reported on mtgox: 0.12/0.01

The number of people wanting to sell bitcoins totally exceed the number willing to buy.
Big lost opportunity for people who believe in bitcoins.

[FreeMoney]

The remarkable part is the high/low reported on mtgox: 0.12/0.01

The number of people wanting to sell bitcoins totally exceed the number willing to buy.
Big lost opportunity for people who believe in bitcoins.

The low was a software glitch, when someone put in an ask at .01 it should have met the high bid which was around .083 but instead was matched with the exact equal bid. It'll probably be taken out of the data like last time, the trade has already been reversed. The code should be fixed, it's happened once before.

You can tell it isn't real because there are no trades going all the way down, just one oddball way down there.

[S3052]

Apart from that single 0.01 glitch, the entire upward breakout was exactly as I predicted 2 weeks ago:


http://bitcointalk.org/index.php?topic=749.20

And its quite normal that sell order around 0.1 are jigh, this is a psychological mark and will be resistance for a couple of days or more (potentially even weeks).

[srb123]

Without any evidence apart from my own feelings, I think the 30day withholding period is going to cause more volitility.

Up 'til 48 hours ago, i'd only put in bid/asks 2-3% either side of current market. Now I have to wait 30days, I'm just putting in radical speculative bids/asks well above/below the market.

Judging by the current Depth Chart, I'm guessing I'm not alone in the thinking of "Im stuck here so I might as well have fun!"

[kiba]

Without any evidence apart from my own feelings, I think the 30day withholding period is going to cause more volitility.

It would be better if veteran traders can opt out of the 30 days withdrawal.

I think it would be a nice feature of a paid mtgox account.