BTC falling sharply!! Why?

[Pangia]

What's going on folks? BTC in the $170 and falling. MtGox has a significant lag. Is this another DDOS?

[mufa23]

What's going on folks? BTC in the $170 and falling. MtGox has a significant lag. Is this another DDOS?

Yeah, just another DDoS like last week. If you can get in, buy some now while it's low. Once the attack stops, it's going to go back up.

[Pangia]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

[dontek]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

WE don't. You can only speculate. Which is what this is all about, no?

People seriously need to calm down and just chill out for a few hours.

Do you not remember last week when the same thing happened? Then it came back and within a day broke the $200 barrier?

My guess is:
DDOS attack slows down the site
People (NOOBS) freak and execute sell orders because they invested money they couldn't afford to invest.
Rest of the market keeps dropping.
Meanwhile, the rest of us are just chillin' and waiting for this to pass and wake up tomorrow with the market being back in the low 200's.

[mufa23]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

Because they did the same thing last week. Bitcoin sites started acting up, some people got scared, the others bought coins low. I'm hitting myself over the head right now for not selling last night, and having a little extra money lying around in an exchange to buy some at a low price.

If you're worried, I'll buy your coins via PP for ~$100 a piece.

[Pangia]

I'm a Noob, but i haven't sold my .07 BTC holdings yet.  LOL. She'll rise again. Staying calm.

[TheDarKnight]

There have been quite a lot of negative articles flying about lately fuelling fears about a Government BAN on BTC or a popping bubble leaving people with nothing and when there's a problem with DDoS or other errors on websites, people sell up because they want to be the ones buying-in at a lower price. As soon as they see that fall they all go "CRAAAAAAAAASSSHHH!!!" and they quite literally, as is typical of trollbox at BTC-e, will crash it for a while themselves, singlehandedly so to speak. Well no worries, Bitcoin will probably rally and stabilise around $200 by the end of the day. After all, ITALY is about to bailout of the EURO pretty soon, so there will be a new influx of users coming along....prontissimoooo!!!  

[dontek]

I'm a Noob, but i haven't sold my .07 BTC holdings yet.  LOL. She'll rise again. Staying calm.

Thumbs Up. Just relax. Take a walk or go see a movie or something. The market will re-stabalize in a few hours then it will head upwards.

[jayguar]

The price is rising now. I guess is that it would reach $200 within couple of hours.

[qxzn]

PANIC SELL SELL SELL

om nom cheap bitcoins

[naypalm]

Don't worry, if if falls to 50 cents, I'll buy up all your bitcoin

[TheDarKnight]

PANIC SELL SELL SELL

om nom cheap bitcoins

Well that's what I'M doing, and I've a bit of cash to do it with too! 

Are we not in a double-dip recession? 

[superbit]

The exchanges are all SO different, it is impossible to know what price is right.  I manged to get some cheap on btc-e and sell them for $40 more on bitfinex.

[poblico]

$130 the last stable point.
Can we safely say all the speculators have fleed and will probably actually just buy again when it stabilizes and drive the market back up?

[justusranvier]

The more things change the more they remain the same.

Goxxed

The act of being screwed by an online merchant, specifically due to the merchant being incompetent and amateurish. Derived from the debacle of the mtgox.com Bitcoin trading site's crash and burn and the resulting chaos trying to re-open. Poor communication, outright lies, scapegoats, Oh My!
Dude, you've been goxxed.

by ledbetter Jun 26, 2011

[dawn]

Huge Sell -> Price Drop -> Panic Sells + DDOS -> Price Drop -> Someone who cashed out can now buy back and make huge profits.

Conclusion: Mt.Gox is fucking unprofessional, I'll hold my coins and only trade it in future at localbitcoins.com

And yes, too many stupid trolling kids which increase the panic.

[virtualmaster]

bitparking is not running
Mt Gox has problems
BTC-E has problems
bitcoincharts.com also not running
bitcointalk seems to be also overloaded

May be it is more than pushing down the prises and just to buy cheap bitcoins.
May be somebody wants to destroy bitcoin. Somebody who is interested in it and has the financial power for it.

[blockbet.net]

Boy, I sure remember my first Bitcoin crash. Sadly, these new ones don't evoke the same kinds of feelings any more

Anyway, as long as it isn't attributed to any major real life event (for example, MtGox seized, blockchain hacked, World War 3 etc.) then I don't see any reason to panic.

[VforVictory]

Boy, I sure remember my first Bitcoin crash. Sadly, these new ones don't evoke the same kinds of feelings any more

Anyway, as long as it isn't attributed to any major real life event (for example, MtGox seized, blockchain hacked, World War 3 etc.) then I don't see any reason to panic.

Don't jynx it. >_>

[Smedley B]

don't know why sentiment seems negative.
was a big opportunity to make money/increase btc holding

[HBBZ]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

Because they did the same thing last week. Bitcoin sites started acting up, some people got scared, the others bought coins low. I'm hitting myself over the head right now for not selling last night, and having a little extra money lying around in an exchange to buy some at a low price.

If you're worried, I'll buy your coins via PP for ~$100 a piece.

I'm as confident and calm as you're, but regretful at missing the chance scoop as a day trader. No worries at all. The real price/value of bitcoin has not been seen yet.

[deathcode]

don't know why sentiment seems negative.
was a big opportunity to make money/increase btc holding

This is a great opportunity to buy.
it's a shame that MT.Gox hasn't reached a maturity level to deal with these attacks.
They seem sistematic attacks, as bitfloor was slow, bitcointalk.org is slow (unless people are posting like crazy)
bitcoincharts.com shows bad gateway, etc, etc..
When people understands that bitcoin is P2P and the fact that one exchange suffers an attack shouldn't affect them that drastically, then we will see a more stable coin.
For now, it's just money going from panickers to others looking for opportunities.

[glendall]

The ease at which the big few currency exchanges get overwhelmed is a bit of problem. Hopefully this will work out soon.  They don't have the network infrastructure to be able to handle the rapid volume that currency exchange dudes work at. 

I'm happy to see a temp drop though personally. Hopefully it will follow with mining difficulty.... any bit helps...

[FreedomCoin]

same here, bitcoin talk is running very slowly.

[juice]

tradehill:
MTGox, Bitstamp are down due to DDOS attack. We are continuing to execute internal orders normally, but routing to external orderbooks is not possible at the moment


who has the power to ddos the whole bitcoin world?
almost all pools and exchanges geting ddos even bitcointalk and clark moody . !
so the people got rushed an blindet to the same time...wtf big guy game

admins show your logs,where is the ddos from ? botnet or supercomputer?

[pyromaniac]

don't know why sentiment seems negative.
was a big opportunity to make money/increase btc holding

This is a great opportunity to buy.
it's a shame that MT.Gox hasn't reached a maturity level to deal with these attacks.
They seem sistematic attacks, as bitfloor was slow, bitcointalk.org is slow (unless people are posting like crazy)
bitcoincharts.com shows bad gateway, etc, etc..
When people understands that bitcoin is P2P and the fact that one exchange suffers an attack shouldn't affect them that drastically, then we will see a more stable coin.
For now, it's just money going from panickers to others looking for opportunities.

Do you really think that these attacks were not produced by them?  

[rebuilder]

The price goes up, no questions asked. The price goes down, it's all "why, why!?".

Volatility goes both ways. If you don't know why it's going up, you won't know why it goes down, either.

[Keyur @ Camp BX]

bitparking is not running
Mt Gox has problems
BTC-E has problems
bitcoincharts.com also not running
bitcointalk seems to be also overloaded

May be it is more than pushing down the prises and just to buy cheap bitcoins.
May be somebody wants to destroy bitcoin. Somebody who is interested in it and has the financial power for it.

Try CampBX!  We have been running without any major lag issues.

[juice]

tzzz... every time there is a "correction" there is also  a big ddos attack ?
its coming back up they are on shopping now

why is tradehill saying:

MTGox, Bitstamp are down due to DDOS attack. We are continuing to execute internal orders normally, but routing to external orderbooks is not possible at the moment.

[bitcoinnix]

Try CampBX!  We have been running without any major lag issues.

I look forward to using CampBX just as soon as you have:
* Something like BTC-E codes to move USD around
* LTC/USD trading
* BTC/LTC trading

[Nemesis]

I'm surprised when ppl ask MtGox to shutdown when lag is unbearable....

Have you ever thought MtGox makes TONS of cash right now from all this huge swing? Panic sell ---> panic buy.

Ppl dont just sell to cash out they sell to buy back in at lower right. During this race there is always someone get a short stick.


I would say, MtGox is the one thats intentionally being incompetent.

[Luckybit]

Try CampBX!  We have been running without any major lag issues.

I look forward to using CampBX just as soon as you have:
* Something like BTC-E codes to move USD around
* LTC/USD trading
* BTC/LTC trading

What about USD/LTC?

I don't want to have to spend BTC to get LTC.

[alexh]

That lag is so annoying, incredible.

[juice]

the problem exist not sinse yesterday!

https://defuse.ca/bitcoin-pool-ddos.htm

[rammy2k2]

im watching it too .. hope to get back to normal 

[antibanker]

no.

you're fish. (poker term)

[reefless]

Watching everything in panic is quite fun really, it means profit! Lol

[Francesco]

After all, ITALY is about to bailout of the EURO pretty soon, so there will be a new influx of users coming along....prontissimoooo!!!  

I am italian, I have thought about considering bitcoin a "safe heaven"... and I find the idea quite silly, frankly. Yes it is a great investment long-trend if done carefully, but as for "protecting"... should my country exit the euro AND my bank confiscate part of my funds Cypro-style, I'll still have lost a lot less than the ones that didn't sell in time... yet, there will probably be a psychological effect, of course, but it is completely irrational.

[repentance]

$130 the last stable point.
Can we safely say all the speculators have fleed and will probably actually just buy again when it stabilizes and drive the market back up?

No.  That there is continued extreme volatility means the speculators haven't fled.  When the price truly stabilises for a significant period (ie, at least a few weeks) of time, the speculators will look elsewhere for quick profits.

[Zendata]

$130 the last stable point.
Can we safely say all the speculators have fleed and will probably actually just buy again when it stabilizes and drive the market back up?

No.  That there is continued extreme volatility means the speculators haven't fled.  When the price truly stabilises for a significant period (ie, at least a few weeks) of time, the speculators will look elsewhere for quick profits.

This. Wheres my weed whacker.

[agath]

I'll still have lost a lot less than the ones that didn't sell in time...

This is exactly what leads to huge bitcoin price swings. Just hold your coins and don't be afraid. You may believe in bitcoin or not. If you don't, just don't buy.

[HappyBitCoinUser]

Just woke up, saw prices, and did this:

[CoolIT]

I could have made some money if I wasn't such an emotional noob.

But then again, even if I sell my 3.5 bitcoins at 170, I am still winning as it would pay my smallfry mining rig.

I sold at 143 and bought back at 144.

CAVirtex.com was not affected at all in it's performance. It was refreshing the price pretty fast.

Well, I learned a lot today.

[HappyBitCoinUser]

From MtGox

You are currently making use of a system which will be deprecated on Wed 10 Apr 2013 12:00:00 AM GMT:
 
Generation of USD and CAD redeemable codes will not be possible due to legal issues
 
Please note that after this date, using this system won't be possible anymore and will instead lead to an error.
 
Thank you for your attention.