btc crashing, the great sell off has begun

[IIOII]

It's a shame that the whole market is so dependent on the MtGox pricing... hope that other exchanges gain market share...

[1714784674]

1714784674

[1714784674]

1714784674

[glub0x]

fantastic buying opportunity for who goes through the laag

[Brushan]

People talking about block limits and shit being the achilles heel of bitcoin when it is actually Mt.Gox that is hurting BTC the most and has been for the last weeks.

[MatthewLM]

There is a gap in the market for a UK based exchange with free to very low cost bank transfers, and greater reliability, and of-course for other counties and in general considering Mtgox is not very good.

I don't want to use MtGox to buy or sell at the moment. I still can't get my head around how to do UK bank transfers and how much it will cost. I could hold cash in Mtgox and re-buy bitcoins later of-course but I don't feel secure with Mtgox with previous problems they have had and the general feeling of unprofessionalism I get with the website.

I thought there would have been more exchange competition.

For now I'll keep my bitcoins regardless and at some point I'll spend them within the bitcoin economy, where I can, which I think is the best thing I can do.

[BitcoinTate]

And now its back to $130 lol

[maxmint]

Who's the guy behind bitcoinity? Love his backgrounds

[ruggedman_dan]

OMG not again, another of this stupid posts!!!

the btc sell off was triggered by MTGox sucking ass at protecting their website from DOS attacks and whatever other mismanagement they incurred into.
newbies will panic and sell and smart buyers will get cheap coins.
This is not a sell off due to lack of price support or any other stupid technicalities other than ineptitude from MTGox.
We'll see bitcoin in 150 again by the end of the week if not sooner.

But isn't this type of thing exactly what makes "outsiders" scared to invest? If I am new to btc and thinking of buying I would have some major concerns after hearing of attacks. The severity of each individual attack is unimportant really- the connotation of the word ATTACK is enough to turn someone off. And lets be totally real- it isn't an outstanding BTC economy that is driving the price up. It is precisely the people who I refered to in the first sentence.

Just a thought.

[b!z]

OMG not again, another of this stupid posts!!!

the btc sell off was triggered by MTGox sucking ass at protecting their website from DOS attacks and whatever other mismanagement they incurred into.
newbies will panic and sell and smart buyers will get cheap coins.
This is not a sell off due to lack of price support or any other stupid technicalities other than ineptitude from MTGox.
We'll see bitcoin in 150 again by the end of the week if not sooner.

But isn't this type of thing exactly what makes "outsiders" scared to invest? If I am new to btc and thinking of buying I would have some major concerns after hearing of attacks. The severity of each individual attack is unimportant really- the connotation of the word ATTACK is enough to turn someone off. And lets be totally real- it isn't an outstanding BTC economy that is driving the price up. It is precisely the people who I refered to in the first sentence.

Just a thought.

early adopter = more profit

[zedicus]

Missed the whole dam thing!! I had a busy day in the field and didnt get to a terminal til about an hour ago only to return to find my spider senses were picking up +5000 hate for mtgox!!
Who took the charts for a ride ...
 

[ruski]

Mt Gox is hurting Bitcoin in the same way that Democracy is the worst system of government. [spoiler]except all the other ones[/spoiler]

How can you say Gox is hurting BTC with a straight face? They've been and are the primary platform for fiat to move in and out of BTC. They've got billions of dollars moving through their business at an ever-increasing rate. Running a business myself I'd say they're doing exceptionally well to have had as few disasters as they have.

Don't bite the hand that feeds you... it just might stop.

[Mark Oates]

Mt Gox is hurting Bitcoin in the same way that Democracy is the worst system of government. [spoiler]except all the other ones[/spoiler]

How can you say Gox is hurting BTC with a straight face? They've been and are the primary platform for fiat to move in and out of BTC. They've got billions of dollars moving through their business at an ever-increasing rate. Running a business myself I'd say they're doing exceptionally well to have had as few disasters as they have.

+1

[Zaih]

Wrong, buddy!

[Brushan]

Mt Gox is hurting Bitcoin in the same way that Democracy is the worst system of government. [spoiler]except all the other ones[/spoiler]

How can you say Gox is hurting BTC with a straight face? They've been and are the primary platform for fiat to move in and out of BTC. They've got billions of dollars moving through their business at an ever-increasing rate. Running a business myself I'd say they're doing exceptionally well to have had as few disasters as they have.

Don't bite the hand that feeds you... it just might stop.

I have nothing against Mt.Gox but they could do a much better job. I'm not even using it but the bitcoin world is linked to Mt.Gox because of it's size and they have made day trading more like gambling. People make good forecasts and are about to make their moves and then the lag starts. This does not look good at all.

But what worries me the most is that they are accepting so many new members right now without even being able to handle volumes today. That, in my opinion, is greed. I think they should just close for new member until they upgrade their engine. That will give other exchanges more new customers, making bitcoin more decentralized and making Mt.Gox more stable. If they don't come up with something very soon, i don't see how they will keep going.

[b!z]

tfw i sold at $120 hoping to short, and failed because of you guys

[Luno]

tfw i sold at $120 hoping to short, and failed because of you guys

U did better than me; $117!

[mccorvic]

tfw i sold at $120 hoping to short, and failed because of you guys

Trying to catch the low in those panic situations is even more of a gamble then rolling on SD.  I just hold, hold, hold.

[piramida]

Trying to catch the low in those panic situations is even more of a gamble then rolling on SD.  I just hold, hold, hold.

Nah it's easy; after the panic selling starts wait 30 minutes then click "buy" at market price then go to bed.

[jwzguy]

want to put your money where your mouth is?

I already did.   

[BIGMERVE]

want to put your money where your mouth is?

I already did.   

[ineededausername]

looks like some people were screwed over in this thread