Pop!

[Amitabh S]

We will be over 300 end of april

[1714889409]

1714889409

[1714889409]

1714889409

[1714889409]

1714889409

[Piper67]

The bids side has lost about $2m in the past few days.  The asks have significantly increased.  I'd say we're witnessing the reversal.

Yeah, or we're witnessing a weekend 

[chiropteran]

Sorry folks, show is over.  Move along, the price is back up to $187 and moving upwards.

[PachucoBro]

Yeah it dropped 10% in 2 hours time so that was a quick sell off, but obviously now it is doing the BitCoin Hustle and jumping back up to the 190s.

That small dip earned me a nice $78 (after fees) which is a cool 5.1% on my money. Actually sold at $185.49 and repurchased at $179.00.

[Rampion]

The bids side has lost about $2m in the past few days.  The asks have significantly increased.  I'd say we're witnessing the reversal.

That's true. I saw the same signs as you did - that's why I have some fiat at Gox waiting for that crash that will allow us to buy cheaper BTC... It's true that if early adopters decide to cash out some hundreds of thousands of BTC we will see a significant decrease in price, and that will be an amazing buying opportunity.

But single digits? No way. Market depth is not that small, and there are still plenty of "late adopters" queueing at Gox in order to pour in fresh fiat.

And frankly speaking: I've been waiting for that decent crash since we were at $40... And so did you... And what happened since then? Let's face reality, my friend

[Gabi]

I still don't see cheap bitcoins 

[zarl]

Pop my asshole !!!

[BitcoinTate]

The bids side has lost about $2m in the past few days.  The asks have significantly increased.  I'd say we're witnessing the reversal.

That's true. I saw the same signs as you did - that's why I have some fiat at Gox waiting for that crash that will allow us to buy cheaper BTC... It's true that if early adopters decide to cash out some hundreds of thousands of BTC we will see a significant decrease in price, and that will be an amazing buying opportunity.

But single digits? No way. Market depth is not that small, and there are still plenty of "late adopters" queueing at Gox in order to pour in fresh fiat.

And frankly speaking: I've been waiting for that decent crash since we were at $40... And so did you... And what happened since then? Let's face reality, my friend

I am waiting for the days when we see the price jump a $1,000

[PachucoBro]

But single digits? No way. Market depth is not that small, and there are still plenty of "late adopters" queueing at Gox in order to pour in fresh fiat.

To put some perspective to that statement. I submitted my ID to MtGOX for verification Sunday afternoon. The site now shows me, "Your Position in the Verification Queue 13640". I was number 13720 about 4 hours ago. Soon as I am verified I have $5,000 more to put in...

I still don't see cheap bitcoins 

Cheap? is Relative... I saw a nice 10% price drop. What other investment will give you 10% on your money in < 4-5 hours?!

[Rampion]

But single digits? No way. Market depth is not that small, and there are still plenty of "late adopters" queueing at Gox in order to pour in fresh fiat.

To put some perspective to that statement. I submitted my ID to MtGOX for verification Sunday afternoon. The site now shows me, "Your Position in the Verification Queue 13640". I was number 13720 about 4 hours ago.

I still don't see cheap bitcoins  

Cheap? is Relative... I saw a nice 10% price drop. What other investment will give you 10% on your money in < 4-5 hours?!

Pachuco, we have seen days with 40% ups&downs in price. If you are into daytrading, BTC is definitely your thing.

I'm for buying and holding, BTW

[BitcoinTate]

But single digits? No way. Market depth is not that small, and there are still plenty of "late adopters" queueing at Gox in order to pour in fresh fiat.

To put some perspective to that statement. I submitted my ID to MtGOX for verification Sunday afternoon. The site now shows me, "Your Position in the Verification Queue 13640". I was number 13720 about 4 hours ago.

I still don't see cheap bitcoins  

Cheap? is Relative... I saw a nice 10% price drop. What other investment will give you 10% on your money in < 4-5 hours?!

Pachuco, we have seen days with 40% ups&downs in price. If you are into daytrading, BTC is definitely your thing.

I'm for buying and holding, BTW

Only if you can predict the top and bottom. Which at this point is a complete gamble.

[drawingthesun]

So, mini flash-crash, or the bubble just popped?

Just panic sells, when the bubble pops for real you won't have time to get out. It will drop $100 in a minute and it won't be till December before its back up again.

[deadweasel]

So, mini flash-crash, or the bubble just popped?

Just panic sells, when the bubble pops for real you won't have time to get out. It will drop $100 in a minute and it won't be till December before its back up again.

hooray!  cheap BTC just before December!   

[randrace]

Once enough of them decide they want to pay down debt, the price will be lucky to stay in the double digits.  Anything above single digits is just too fragile.  The depth of this market is still tiny and the price wouldn't withstand more than a few dozen (at best) attempts to buy a modest house within a short period.

Oh hell yeah, proudhon! I was just getting nostalgic for all the Single Digit talk of days gone by. Leave it proudhon to bring up S.D. during these heady times. Don't ever change!

[mp420]

So, mini flash-crash, or the bubble just popped?

Just panic sells, when the bubble pops for real you won't have time to get out. It will drop $100 in a minute and it won't be till December before its back up again.

The last time the bubble popped there was a huge intraday upward spike and the downward slope in the following days, weeks and months was much gentler than the climb.

If the history repeats itself, we'll have ample time to notice that the peak is in the past.

[tonto]

Bitcoin frees you from debt, why would you ever want to sell it back for debt-based money?

Bills?  mortgages?  other shit they wanna buy that doesn't accept bitcoins yet?

[GeniuSxBoY]

What is the deviation for selling and buying in order to break even at a .6% fee.


If I sell 100 shares at $190... I would have $19,000 minus $114 fee = $18,886

I'd need to buy x-(x*.006) shares to get my 100 shares back.
I'd need to buy x= 100.6036217303823 to get my 100 shares back

100.6036217303823 shares at what price will cost $18,886?
100.6036217303823 shares at $x will cost $18,886?
$18,886/$x = 100.6036217303823
$18,886= 100.6036217303823x
x = $187.72684

Therefore, if I sold a 100 shares at $190.00000, I would have to buy in at $187.72684 to get my 100 shares back.
Giving a deviation of $2.27316.

[smoothie]

The price was $145 yesterday and it's $194 now.  That is a bubble pop?

It's gotta start somewhere.   This price has got to be too tempting for a large number of early adopters.  Once enough of them decide they want to pay down debt, the price will be lucky to stay in the double digits.  Anything above single digits is just too fragile.  The depth of this market is still tiny and the price wouldn't withstand more than a few dozen (at best) attempts to buy a modest house within a short period.  

Bitcoin might have a chance, but a good number of early adopters will need to divest themselves of a large portion of their holdings, and that will cause another catastrophic price collapse, which will, hopefully, last years and allow developers more time to mature the protocol.  Then again, it's uncertain now that bitcoin will recover from the coming collapse given that it's going to turn a lot more people off this time.  The next few years will be interesting to watch, that's for sure.

Add a few orders of magnitude to the price and yes it is tempting.

This is still early in the game.

[checkers6676]

if the price drops >=$100 in a crash, I'll:
1) still be in the green on my initial investment by 80%
2) buy SO many bitcoins, you don't even know

[deadweasel]

if the price drops >=$100 in a crash, I'll:
1) still be in the green on my initial investment by 80%
2) buy SO many bitcoins, you don't even know

I'll just leave this here...

----------------------------------------------

MtGox Bitcoin USD Exchange Rate below $100 by end of 2013.

"The MtGox Bitcoin exchange rate will dip back below $100 USD at some point before the end of 2013."

Bet started:   5 hours 5 minutes ago (08-04-2013)
Bet closing:        in 8 months 3 weeks (29-12-2013)
Resolution:         in 8 months 3 weeks (31-12-2013)

-----------------------------------------------