calm the fuck down everyone

[Herodes]

There is also the issue of it NOT breaking through 50 and people panicing from that. This 'bug' issue only became public after the price started dropping, thus making the drop more severe. The combo isn't fun, but I think it would have been going down to some degree a anyway.

The issue was most likely communicated to certain community members before it was made public, so that these could stand first in the que to sell out to secure profits if needed.

[fcmatt]

There is also the issue of it NOT breaking through 50 and people panicing from that. This 'bug' issue only became public after the price started dropping, thus making the drop more severe. The combo isn't fun, but I think it would have been going down to some degree a anyway.

The issue was most likely communicated to certain community members before it was made public, so that these could stand first in the que to sell out to secure profits if needed.

Well, that just means if you were on irc or not. At least one moderator sold before it became news here. He knew it was best to log onto gox before coming here and telling the chumps. Why does that sound so familiar? Heh. Read the news about wall st and banks eh?

[mccorvic]

There is also the issue of it NOT breaking through 50 and people panicing from that. This 'bug' issue only became public after the price started dropping, thus making the drop more severe. The combo isn't fun, but I think it would have been going down to some degree a anyway.

The issue was most likely communicated to certain community members before it was made public, so that these could stand first in the que to sell out to secure profits if needed.

Well, that just means if you were on irc or not. At least one moderator sold before it became news here. He knew it was best to log onto gox before coming here and telling the chumps.

Conspiracy theories! I love 'em!

[fcmatt]

This was 100% from the issue at hand. I personally sold everything I had on Gox before it really went public. It was going on in IRC for half an hour before it was anywhere else. The dumps are 100% because of the technical malfunction.

The market will be oversold soon though so look for cheap coins tomorrow :>

Here ya go. In thus very thread. Ugh. He aint a moderator. My bad. So conspiracy game on then!

[Cluster2k]

I had an old low ball bid fill too.  Actually I would have pulled it if I had the chance but whatever, too late now.  Maybe me not knowing about this fork until it was too late will turn out to be a good thing.

I only now just read about the network fork issue.  I had the low ball bid ($37) in on the assumption someone would try wild trading swings again and by the time they start happening it's too late to place orders (MtGox chokes, Live stream dies, etc).  It's also too late to pull bids if things really turn sour.  Risky game.

I've been lucky with my bid as I'm sitting on a 15%+ paper profit.  Question now is, will the market go back to $45 or so or take another dump.  Decisions, decisions.

[Herodes]

I've been lucky with my bid as I'm sitting on a 15%+ paper profit.  Question now is, will the market go back to $45 or so or take another dump.  Decisions, decisions.

It is never wrong to take a profit.

[SaintFlow]

i would love to calm down - but when i woke up to the party that happend all the cheap coins where already traded
and i am therefore quite mad! So is it wrong to FUD a bit more?

[GeoRW]

by recent more intensive adoption bitcoin started to hit some of its limits. I expect more problems in the future if bitcoin continues to get more and more new users aboard. It's still beta software and not prepared for large transaction volumes.

[fcmatt]

by recent more intensive adoption bitcoin started to hit some of its limits. I expect more problems in the future if bitcoin continues to get more and more new users aboard. It's still beta software and not prepared for large transaction volumes.

Intensive adoption? That is a nice way to spin satoshi dice spam.

[paraipan]

Pipe the fuck down people!

http://www.youtube.com/watch?v=EldZB85l6bU

[niko]

The important question is not what we here think, but how tomorrow's news will affect potential new users' views and decisions.

[zebedee]

It's not just downtime.  It's a clusterfuck due to all transactions that will inevitably be reversed.  I guarantee you a bunch of people lose a lot of money from this.

Fortunately for me, I was able to sell some LTC at .0115 BTC 

No transactions are being reversed at all.  Where are you getting this false information from?

He doesn't understand, clearly.

[throughput]

The important question is not what we here think, but how tomorrow's news will affect potential new users' views and decisions.

Hey, people, he is right btw, so what are you all talking about?

[piramida]

Fairly simple - does not matter if the issue is completely resolved (as it is). Speculators were sitting on the fence below 50. Even a slight wind blow in a wrong direction would've mattered. So my short term direction prediction - down to $34. My speculative coins sold at 47, buy orders at 34. If suddenly bitcoin crowd does not display herd behaviour and turns bullish instead, I will be happy for how much our little market has matured and how it is much more panic-resistant than Wall street. But I doubt it.

[rpietila]

This was 100% from the issue at hand. I personally sold everything I had on Gox before it really went public. It was going on in IRC for half an hour before it was anywhere else. The dumps are 100% because of the technical malfunction.

The market will be oversold soon though so look for cheap coins tomorrow :>

I bought them. I don't regret a minute for my purchase, because there are bigger things going on. If everything goes as planned, this will take the price to around $30 enabling me and my friends to purchase 50% more bitcoins in the following weeks. I will be buying all the way down.

Ahhh....

You should never tell your actual intention. Rewrite:

Lucky that I also sold most of my coins on your advice, pal. The ramifications of this fork are immense, it is good that not many know about the real situation yet. I get to unload most of the remaining stash maybe at $30 or $25, a good price given the fact that there are no buyers left. I will be selling all the way down, it does not matter which price I get because BTC is doomed anyway.

[BitcoinAshley]

by recent more intensive adoption bitcoin started to hit some of its limits. I expect more problems in the future if bitcoin continues to get more and more new users aboard. It's still beta software and not prepared for large transaction volumes.

Intensive adoption? That is a nice way to spin satoshi dice spam.

Lol. As it is, devs are dragging their feet with the blocksize issue. And many feel that we'd need at least a year of notice before implementing a hard fork. With the current 0.7/0.8 issue, we're going to need a hard fork much sooner than that. Without SatoshiSpam dustcoin transactions, we have even LESS of an incentive to fix these problems (It is argued by many that raising the blocksize limit would help tx fees to price themselves in, making the SatoshiSpam unprofitable.)
So, personally, I'd RATHER have SatoshiSpam dustcoining the network because it gives us a reason to act sooner rather than later. If it wasn't SD it's be another website or a group of websites. So the fact that someone's doing it isn't the issue, it's the fact that doing it is profitable for various reasons. Sure, people should stop using it, and miners should delay or refuse to accept dust tx with no fees, but fixing these issues with the network is another part of the solution. Having a tiger chasing you is a really good reason to run ;-)

[the joint]

It's not just downtime.  It's a clusterfuck due to all transactions that will inevitably be reversed.  I guarantee you a bunch of people lose a lot of money from this.

Fortunately for me, I was able to sell some LTC at .0115 BTC 

No transactions are being reversed at all.  Where are you getting this false information from?

He doesn't understand, clearly.

You don't understand what I meant, clearly.  I had to resend a transaction that was reversed post-fork.

[notme]

It's not just downtime.  It's a clusterfuck due to all transactions that will inevitably be reversed.  I guarantee you a bunch of people lose a lot of money from this.

Fortunately for me, I was able to sell some LTC at .0115 BTC 

No transactions are being reversed at all.  Where are you getting this false information from?

He doesn't understand, clearly.

You don't understand what I meant, clearly.  I had to resend a transaction that was reversed post-fork.

If you had a little more patience, it would have been reconfirmed in the new chain.  There was just a very large backlog that is still being cleared.

[AndyRossy]

It's not just downtime.  It's a clusterfuck due to all transactions that will inevitably be reversed.  I guarantee you a bunch of people lose a lot of money from this.

Fortunately for me, I was able to sell some LTC at .0115 BTC 

No transactions are being reversed at all.  Where are you getting this false information from?

He doesn't understand, clearly.

You don't understand what I meant, clearly.  I had to resend a transaction that was reversed post-fork.

If you had a little more patience, it would have been reconfirmed in the new chain.  There was just a very large backlog that is still being cleared.

- The original problem of TX's building up in mempools still exists - if things get crazy, we can expect out of mem errors, and then dare not think of the consequences for the network.
- A double spend was achieved, some people argue the "mechant" should have ignored the 2nd spend or similar, but it happened.

Whilst, ppl saying all calm down, the fact that the fix did not work is awful long term, and must be addressed asap.  And a hard fork happened, is pretty terrible.

[notme]

It's not just downtime.  It's a clusterfuck due to all transactions that will inevitably be reversed.  I guarantee you a bunch of people lose a lot of money from this.

Fortunately for me, I was able to sell some LTC at .0115 BTC 

No transactions are being reversed at all.  Where are you getting this false information from?

He doesn't understand, clearly.

You don't understand what I meant, clearly.  I had to resend a transaction that was reversed post-fork.

If you had a little more patience, it would have been reconfirmed in the new chain.  There was just a very large backlog that is still being cleared.

- The original problem of TX's building up in mempools still exists - if things get crazy, we can expect out of mem errors, and then dare not think of the consequences for the network.
- A double spend was achieved, some people argue the "mechant" should have ignored the 2nd spend or similar, but it happened.

Whilst, ppl saying all calm down, the fact that the fix did not work is awful long term, and must be addressed asap.  And a hard fork happened, is pretty terrible.

Cool story.  I have no fucking idea what it had to do with my previous comment though.