Mt. Gox reopens in 1 hour. Predictions?

[Stylus]

Will the sell-off continue or did most people find other avenues to sell in the last 12 hours?

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[RandomQ]

Down to $100 bounce to $150

[Rafa7]

http://www.reactiongifs.com/wp-content/uploads/2013/04/celebrate.gif

[penetration]

Down to 50 or below. Crash still needs to level out, majority of people will want to panic sell.

[Inedible]

Everyone sells their Bitcoin.

The value plumets to negative values.

Investor-noobs go insane and start mass riots.

The world economy collapses and the zombie apocalypse is finally realised.

Mt. Gox starts trading in rifles, ammo and food... due to incompetence they lose everyone's resources...

[BitcoinGirl325]

It will probably crash well below $100, probably in the range of $20-50.

This is how the mainstream press is viewing this event:
http://www.naturalnews.com/039880_bitcoin_bubble_panic_selling_accounts_frozen.html

Quote from the article:
"Bitcoin is now officially a failed experiment."

[dontek]

Everyone sells their Bitcoin.

The value plumets to negative values.

Investor-noobs go insane and start mass riots.

The world economy collapses and the zombie apocalypse is finally realised.

Mt. Gox starts trading in rifles, ammo and food... due to incompetence they lose everyone's resources...

Best prediction ever.

/Close Thread

[CoinMan]

People have been "Goxed" again!  I predict a bottoming out at $50 however Mt Gox will pull the plug at $70 and blame it on a technical glitch this time.

Should you listen to me?  Of course not!

CoinMan

[justusranvier]

Quote from the article:
"Bitcoin is now officially a failed experiment."

Awesome. That ranks right up there with Wired adding Bitcoin to the 2012 "Expired" list.

[Ichthyo]

lets better put it this way:

first swallow up the bids which are still there, so move down.
Then probably high API lag again, causing the downward move to terminate at a point which is absolutely arbitrary and meaningless.
Next bounce back up when the buy orders hit the head of the engine queue. Again the top value is arbitrary and meaningless.

Then, after matters cool down, the real action starts. My personal bet is it will be headed first a bit below $100. But from this point up, we should not try to make predicitions, since psychology isn't predictable.

[proudhon]

Everything will go smoothly.

[Mike Christ]

Everyone sells their Bitcoin.

The value plumets to negative values.

Investor-noobs go insane and start mass riots.

The world economy collapses and the zombie apocalypse is finally realised.

Mt. Gox starts trading in rifles, ammo and food... due to incompetence they lose everyone's resources...

I found this hilarious.  Thank you sir.

[WiseOldOwl]

^^ +1 I laughed too,

[Pangia]

Well, there is allegedly thousands of new accounts (cause of the trade engine failure), so perhaps these new account holders will buy up the coins at the low prices causing a run-up.

OR

Those that acquired the coins at a higher price will want to take their lumps and walk away (sell).

Ultimately, unless we get another DDoS or other form of manipulation, the market will decide.

I'm making coffee right now for the fireworks.

[doobadoo]

Everything will go smoothly.

Thats all the confirm i need.  Mt Gox will trade for 10 minutes and then lag, then sell off, then suspend trading.

What kind of dbase upgrade could they have done in 12 hours.  Swapped out the mechanical to ssd in their raid array? (As if they should have done this already)

Thoughts?  Was the dbase access the bottleneck?  Did they have the trading front end running on the same box as the dbase?  (As if they shouldn't have put that into 2 boxes already).

Maybe they went out and bot those PCIe Ram Disk cards?  (With 500K/day of revenue, shouldn't they have done that already).

The fact that they CAN upgrade the dbase in 12 hours scares me to begin with!

IT guys thoughts?

[doobadoo]

price just changed btw...now 127...how can that be if there is no trading...

Oh man their setup is such crap, its like a monet, the more you look at it the more of a mess you see.

[doobadoo]

oh btw, whats gox's policy on num of confirms?  Sending in da coins in case of a big run.

[Stunna]

chaos is my only prediction.

[knybe]

It will probably crash well below $100, probably in the range of $20-50.

This is how the mainstream press is viewing this event:
http://www.naturalnews.com/039880_bitcoin_bubble_panic_selling_accounts_frozen.html

Quote from the article:
"Bitcoin is now officially a failed experiment."

naturalnews is mainstream media? humph... news to me.

[Crs]

Price will fall to 40 and after that will climb back to ~ 200 $ in the next 24h if we don't get hit by the lag again.