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Author Topic: Highest volume day on record  (Read 1946 times)
lebing
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April 12, 2013, 01:37:14 PM
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And we are nowhere near finished.

I imagine that once the tree has been entirely shaken (90,000 coins were just sold in a few hours...), we will start heading right back up again.

Bro, do you even blockchain?
-E Voorhees
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humanitee
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April 12, 2013, 01:38:46 PM
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I want to believe, but we ended up attracting 3000x more get-rich-quickers than I thought we had.
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April 12, 2013, 02:38:39 PM
 #3

What people need to realize is this lowers the barrier to entry for the average joe. All those new "verification" on MtGox will go through. The next "bubble" will be at $500 or $1000. Get your popcorn ready...
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April 12, 2013, 08:11:55 PM
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Looks like the tree was shaken about as much as it could and now panic buying mode is setting in.

Bro, do you even blockchain?
-E Voorhees
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April 12, 2013, 08:14:45 PM
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What people need to realize is this lowers the barrier to entry for the average joe. All those new "verification" on MtGox will go through. The next "bubble" will be at $500 or $1000. Get your popcorn ready...

After a crash from $266 to $55 is another round on the way?  If you have/had money to throw in would you, are you?  I don't know it is possible we could see another bubble but, I doubt it will cross $266.  I also think all we are seeing today is a new bull trap.  Two bubbles in a row does not generally happen.  And after such a massive loss in value a bigger bubble seems even more unlikely to me.  There were some interesting charts that showed before the last rally Mar 17. that the price should be about $100 from Jan.  I think that is why we see the price we see today.  It is still just speculation but, it is at least more sane speculation than the past 4 weeks.  I expect next week to see the price go down or mostly sideways.  If it goes above $120 I'll be shaking my head.
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April 12, 2013, 08:17:23 PM
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Let's pray the shaking has managed to spread the coins out so the biggest wallets are smaller than before the crash. Sadly enough I doubt this is the case. :|

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lebing
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April 12, 2013, 08:23:22 PM
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Let's pray the shaking has managed to spread the coins out so the biggest wallets are smaller than before the crash. Sadly enough I doubt this is the case. :|

Sadly I dont either. Most people need to learn the hard way (I know I did, way back when).

Bro, do you even blockchain?
-E Voorhees
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April 12, 2013, 08:26:27 PM
 #8

What people need to realize is this lowers the barrier to entry for the average joe. All those new "verification" on MtGox will go through. The next "bubble" will be at $500 or $1000. Get your popcorn ready...

After a crash from $266 to $55 is another round on the way?  If you have/had money to throw in would you, are you?  I don't know it is possible we could see another bubble but, I doubt it will cross $266.  I also think all we are seeing today is a new bull trap.  Two bubbles in a row does not generally happen.  And after such a massive loss in value a bigger bubble seems even more unlikely to me.  There were some interesting charts that showed before the last rally Mar 17. that the price should be about $100 from Jan.  I think that is why we see the price we see today.  It is still just speculation but, it is at least more sane speculation than the past 4 weeks.  I expect next week to see the price go down or mostly sideways.  If it goes above $120 I'll be shaking my head.

I believe what we saw was an orchestrated sell-off and DDOS. That can't happen every day. The fundamentals are there and lots of people want to buy more bitcoins. There will be more ups and downs, but a crash to $50 or below seems extremely unlikely to me. If such a crash does happen myself and others will use the opportunity to buy cheap coins.
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April 12, 2013, 08:30:26 PM
 #9

What people need to realize is this lowers the barrier to entry for the average joe. All those new "verification" on MtGox will go through. The next "bubble" will be at $500 or $1000. Get your popcorn ready...

After a crash from $266 to $55 is another round on the way?  If you have/had money to throw in would you, are you?  I don't know it is possible we could see another bubble but, I doubt it will cross $266.  I also think all we are seeing today is a new bull trap.  Two bubbles in a row does not generally happen.  And after such a massive loss in value a bigger bubble seems even more unlikely to me.  There were some interesting charts that showed before the last rally Mar 17. that the price should be about $100 from Jan.  I think that is why we see the price we see today.  It is still just speculation but, it is at least more sane speculation than the past 4 weeks.  I expect next week to see the price go down or mostly sideways.  If it goes above $120 I'll be shaking my head.

I believe what we saw was an orchestrated sell-off and DDOS. That can't happen every day. The fundamentals are there and lots of people want to buy more bitcoins. There will be more ups and downs, but a crash to $50 or below seems extremely unlikely to me. If such a crash does happen myself and others will use the opportunity to buy cheap coins.

The DDOS was happening the whole time it was going over $100 on up to $266.  The fundamentals are certainly not there and everyone buying is doing so out of speculation for things that have not happened, widespread adoption, ATMs.  There is so much regulation and redtape to get through to go beyond gambling and drugs.  People are simply buying and selling a commodity and not a currency.

The DDOS did not bring down MtGOX FFS it was the massive sell off that did it.
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April 12, 2013, 08:45:12 PM
 #10

What people need to realize is this lowers the barrier to entry for the average joe. All those new "verification" on MtGox will go through. The next "bubble" will be at $500 or $1000. Get your popcorn ready...

After a crash from $266 to $55 is another round on the way?  If you have/had money to throw in would you, are you?  I don't know it is possible we could see another bubble but, I doubt it will cross $266.  I also think all we are seeing today is a new bull trap.  Two bubbles in a row does not generally happen.  And after such a massive loss in value a bigger bubble seems even more unlikely to me.  There were some interesting charts that showed before the last rally Mar 17. that the price should be about $100 from Jan.  I think that is why we see the price we see today.  It is still just speculation but, it is at least more sane speculation than the past 4 weeks.  I expect next week to see the price go down or mostly sideways.  If it goes above $120 I'll be shaking my head.

I believe what we saw was an orchestrated sell-off and DDOS. That can't happen every day. The fundamentals are there and lots of people want to buy more bitcoins. There will be more ups and downs, but a crash to $50 or below seems extremely unlikely to me. If such a crash does happen myself and others will use the opportunity to buy cheap coins.

The DDOS was happening the whole time it was going over $100 on up to $266.  The fundamentals are certainly not there and everyone buying is doing so out of speculation for things that have not happened, widespread adoption, ATMs.  There is so much regulation and redtape to get through to go beyond gambling and drugs.  People are simply buying and selling a commodity and not a currency.

The DDOS did not bring down MtGOX FFS it was the massive sell off that did it.


It is highly unlikely that the crash would have been that severe without MtGox eating shit.

ElectricMucus
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April 12, 2013, 08:57:12 PM
 #11

You guys are getting played.

This is an epic bull trap in the making.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
notme
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April 12, 2013, 09:00:07 PM
 #12

You guys are getting played.

This is an epic bull trap in the making.

Bull trap, bear trap... I don't care.  Just keep disagreeing, my liquidity bot is eating it up.

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While no idea is perfect, some ideas are useful.
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ElectricMucus
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April 12, 2013, 09:02:36 PM
 #13

You guys are getting played.

This is an epic bull trap in the making.

Bull trap, bear trap... I don't care.  Just keep disagreeing, my liquidity bot is eating it up.

Yeah I don't really care either.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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April 12, 2013, 10:28:21 PM
 #14

You guys are getting played.

This is an epic bull trap in the making.

Care to explain a bit more? You know everyone can shout things...

First PC game is using Bitcoin as the currency: Fallout 2
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ElectricMucus
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April 12, 2013, 10:35:54 PM
 #15

You guys are getting played.

This is an epic bull trap in the making.

Care to explain a bit more? You know everyone can shout things...

Fundamental reason: The big players need enough liquidity to cash out that is provided right now.
Technical reason: Dead cat bounce. I can't tell you specifics because this would be to my disadvantage, the only thing more stupid in than a wrong trade is giving away a working system.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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April 12, 2013, 11:57:52 PM
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Holy... what in the...

Now THAT IS VOLUME, SERIOUSLY! Shocked
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April 13, 2013, 12:59:57 AM
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Thats quite the volume.

Luckybit
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April 13, 2013, 01:39:38 AM
 #18

And we are nowhere near finished.

I imagine that once the tree has been entirely shaken (90,000 coins were just sold in a few hours...), we will start heading right back up again.

And if that happens where will the disbelieving dot com bubble myth bears go?

I've been a bull since my first Bitcoin, I believe. I think Bitcoin is the future of money. Don't get me wrong, I still recognize that I need the dollar to buy food and pay utility bills (and taxes), but when I buy my next computer it's going to be in Bitcoins, and when I buy my big screen TV it's gonna be in Bitcoins as well. That is if I ever have enough Bitcoins to do that or if the value of Bitcoins go up to the thousands or tens of thousands of dollars.

At some point the value will go up enough that we will start spending it and I know damn well that I'll spend at least 5%. But right now, at $100 a coin, no. It's not something to shout about or spend on. HOARD HOARD HOARD until it's at least $5000 a coin and then maybe buy a big screen TV or new computer so you can mine.
jl2012
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April 13, 2013, 01:43:29 AM
 #19

I'm really surprised no one notice this: that's because of 0% trading fee

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April 13, 2013, 02:02:40 AM
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I'm really surprised no one notice this: that's because of 0% trading fee

Yeah, I was going to say. This may also be the cause of the larger spreads today between exchanges.
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