Calling to now May-1-2013 1BTC=25USD

[Evan]

This price correction should level the coins at or around 15USD and we'll start a slow climb back to 40-50USD by July1

[omgitsmehehe]

10BTC wager?

[gbl08ma]

You repeatedly forgot to add a zero to the right of your numbers...
"This price correction should level the coins at or around 150 USD and we'll start a slow climb back to 400-500 USD by July 1"*
* assuming mtgox doesn't fuck things up with a huge lag again, and other Bitcoin websites stop being so prone to DDoS attacks, which is very very unlikely.

[zenith92]

Lol.

[wtfvanity]

Me thinks this should be in speculation?

[Evan]

10BTC wager?

This is a one sided bet.

To be clear you want me to win $250 if I am right?

And what are you placing against this bet? your terms are unacceptable. Write up reasonable terms and we'll talk.

[frozenkai]

what is this price correction?

[omgitsmehehe]

10BTC wager?

This is a one sided bet.

To be clear you want me to win $250 if I am right?

And what are you placing against this bet? your terms are unacceptable. Write up reasonable terms and we'll talk.

My bet is 10BTC, your bet is 10BTC.

Bet will run until May 1 00:00 UTC and outcome will be verified by a 3rd party or escrow holder.

My terms are unacceptable because it was unacceptable of you to post this economics and not in speculation. Also because you seem sure that BTC will drop so low. If the price goes below $25 you win. If it doesn't I win.

[Wuji]

The price went up rather slowly to $50 and then ran up starting March 17th when Cyprus announced the tax.  Since that time Bitcoin has attracted an enormous influx of speculators and media attention.  I think most people will look at charts and feel it is valued at $50+ and I've been a bear for a month now.  I'd be surprised to see it go back under $40.  I'm not sure we will see another huge increase though until another event happens.  I wont buy back in until it starts to go up slowly like it was before.  A lot of people will lose interest after this bubble burst today.  Many who bought in really high probably got hit hard today and wont be buying back anytime soon just holding and waiting.

[pretendo]

It will never drop below 30 ever again, unless there is colossal upheaval like exchanges closing, startups failing, mass hackings or serious government crackdown. Outside of a cataclysm such as that, don't count on it

[Mike Christ]

To be fair, the price went sky high in a very short amount of time.  I'm talking just April, and just the past few days.

I sense the market is being heavily manipulated.

[shkiser]

Exactly mike. Why are you  all buying into the idea of ddos attack? Its clear as day the price is being manipulated and very obvious mtgox has a major involvment. Boycott mt gox. The longer I am involved the more clear it has become. I believe mt gox is created by the satoshi character and theres a reason he's been anonymous. Mt gox is taking you all for a ride and reaping tremendous profits In the mean time.  They're creating the panic and capitalizing on their calculated value crash and rise.  Playing the physiological ballfield. Come on ppl.

[Wuji]

To be fair, the price went sky high in a very short amount of time.  I'm talking just April, and just the past few days.

I sense the market is being heavily manipulated.

That is natural during a collapse though. As the price goes down the bulls keep buying back in at the end of each day thinking they are getting a steal.  I doubt the next day or two will be pretty but, I'm ok with it either way.  Just waiting to see what happens next with my bowl of popcorn.


The price rose based on speculation.  The "DDOS" attack is actually panicked sellers trying to sell, speculators trying to buy "cheap", and others trying to look at prices.  The exchanges just never expected so many new speculators to enter the market so fast and their infrastructures can't handle the load. 

[theta]

10BTC wager?

This is a one sided bet.

To be clear you want me to win $250 if I am right?

And what are you placing against this bet? your terms are unacceptable. Write up reasonable terms and we'll talk.

My bet is 10BTC, your bet is 10BTC.

Bet will run until May 1 00:00 UTC and outcome will be verified by a 3rd party or escrow holder.

My terms are unacceptable because it was unacceptable of you to post this economics and not in speculation. Also because you seem sure that BTC will drop so low. If the price goes below $25 you win. If it doesn't I win.

To be fair to Evan, quoting the bet in BTC terms gives assymmetrical payoff in your favour. If he's right he will only have won $250, if he's wrong he would have lost $2500+.

[mco65]

This price correction should level the coins at or around 15USD and we'll start a slow climb back to 40-50USD by July1

If so, too bad you can't SHORT BTC on one of the trading plaforms..

[solomon]

Buy more than just MTGOX failed. This forum went down, bitcoinity, bitstamp. It felt like a well orchestrated ddos intended to cause panic

[NikolaTesla]

To be fair, the price went sky high in a very short amount of time.  I'm talking just April, and just the past few days.

I sense the market is being heavily manipulated.

It's probably being manipulated by the jews. Remember Israel was the number 2 country on Google Trends that searched for bitcoin. It's in their blood to manipulate and steal everything they can get their greedy little paws on. Their whole religion was founded on the idea that it's okay to manipulate others for profit (Jacob/Esau).

[Mike Christ]

Exactly mike. Why are you  all buying into the idea of ddos attack? Its clear as day the price is being manipulated and very obvious mtgox has a major involvment. Boycott mt gox. The longer I am involved the more clear it has become. I believe mt gox is created by the satoshi character and theres a reason he's been anonymous. Mt gox is taking you all for a ride and reaping tremendous profits In the mean time.  They're creating the panic and capitalizing on their calculated value crash and rise.  Playing the physiological ballfield. Come on ppl.

To be fair, the price went sky high in a very short amount of time.  I'm talking just April, and just the past few days.

I sense the market is being heavily manipulated.

That is natural during a collapse though. As the price goes down the bulls keep buying back in at the end of each day thinking they are getting a steal.  I doubt the next day or two will be pretty but, I'm ok with it either way.  Just waiting to see what happens next with my bowl of popcorn.


The price rose based on speculation.  The "DDOS" attack is actually panicked sellers trying to sell, speculators trying to buy "cheap", and others trying to look at prices.  The exchanges just never expected so many new speculators to enter the market so fast and their infrastructures can't handle the load. 

It could be either way, but until the balance of who uses what exchanges evens out, it'll be hard to say.  If Gox really is garnering ~80% of all BTC trade, we must diversify, and then, if stability ensues, or volatility continues, we'll have some idea of what was really going on today.  It's unsettling to know that the price of a single Bitcoin is unanimously weighed by what Gox is doing.  While Gox swung from 200 to 100 and back again, Vircurex (the only other exchange I was looking at so sorry for lack of examples) was completely steady at about $140 the entire time.  OTOH, I'm pretty sure I heard Bitstamp hit sub-100 levels, so who knows?  I don't.

[Mike Christ]

To be fair, the price went sky high in a very short amount of time.  I'm talking just April, and just the past few days.

I sense the market is being heavily manipulated.

It's probably being manipulated by the jews. Remember Israel was the number 2 country on Google Trends that searched for bitcoin. It's in their blood to manipulate and steal everything they can get their greedy little paws on. Their whole religion was founded on the idea that it's okay to manipulate others for profit (Jacob/Esau).

I'm sure it's possible, but I don't see any sign of Jewish influence on the exchanges thus far.

Unless you're joking   I can't tell anymore.

[MonkeyBear68]

On Sunday March 31 bitcoin was trading around $100. The run up over the last 10 days meant it was bound to have a correction. As long as support is found at around $150 tomorrow, then all is well and this is a normal correction in what is still a bull market. Refer to the following article by Enky:

http://btctrading.wordpress.com/author/enky1974/

Enky uses Elliot wave analysis, VWAP and ALMA to interpret the market. Read his post for April 10 and you will see, nothing to panic about.

As he mentions in his post Mt Gox needs to get its sh*t together and not have these big lags on heavy trading days. These lags only make the market more volatile.