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EuroTrash (OP)
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April 30, 2013, 06:06:17 PM |
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1. BitPay (or another subject with loads of coins to burn) shorting at the end of the month in order to buy in cheaper
2. 1st of May is labour day, banks are closed in many countries, people dumping because they expect a mini-weekend-dip-alike
3. Most "get rich quick" people are leaving the building after having gotten hurt by buying at 200+$
4. Bitcoin isn't the new cool thing anymore. Google Trends is in decline. Bitcoin got its 5 minutes of celebrity and now it's back to being play-money (notice how low the volume is if compared to March)
5. Others? Write your own or let me know if you agree with any of the above...
(disclaimer: I am long bitcoin and yes I hope they'll skyrocket but still I try to stay objective as opposed to delusional bull)
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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YoYa
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April 30, 2013, 06:08:33 PM |
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That wasn't a dump, that was afternoon tea. Normal volatility, you'll reach a point where it's boring after a while.
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johnblaze
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April 30, 2013, 06:09:49 PM |
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there is no place of significance that you can short. gox doesn't follow other exchanges. the other exchanges follow gox.
the price ran up $10 yesterday. today its down $10 and back where it started
this is a non-event. stop wasting everyones time just cause you bought higher yesterday and now are scared
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txmasut
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April 30, 2013, 06:11:16 PM |
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1. BitPay (or another subject with loads of coins to burn) shorting at the end of the month in order to buy in cheaper
2. 1st of May is labour day, banks are closed in many countries, people dumping because they expect a mini-weekend-dip-alike
3. Most "get rich quick" people are leaving the building after having gotten hurt by buying at 200+$
4. Bitcoin isn't the new cool thing anymore. Google Trends is in decline. Bitcoin got its 5 minutes of celebrity and now it's back to being play-money (notice how low the volume is if compared to March)
5. Others? Write your own or let me know if you agree with any of the above...
(disclaimer: I am long bitcoin and yes I hope they'll skyrocket but still I try to stay objective as opposed to delusional bull)
Prices are the same as they were yesterday....not sure where you are going with this? |
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smoothie
Legendary
 Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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April 30, 2013, 06:12:17 PM |
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lol the perception of people who zoom in on their price charts is changing.
"but the price touched the bottom of the screen so it is a dump right?"
but but but but lol
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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UltimateReaper
Newbie
Offline
Activity: 56
Merit: 0
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April 30, 2013, 06:16:51 PM |
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there is no place of significance that you can short. gox doesn't follow other exchanges. the other exchanges follow gox.
the price ran up $10 yesterday. today its down $10 and back where it started
this is a non-event. stop wasting everyones time just cause you bought higher yesterday and now are scared
this |
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EuroTrash (OP)
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April 30, 2013, 06:18:44 PM |
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stop wasting everyones time just cause you bought higher yesterday and now are scared
Date Registered: April 06, 2013, 03:51:55 AM
Hello. You must be the new guy here. Let me introduce myself. I'm one of those who were already mining/buying in 2011. Cheers.  |
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johnblaze
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April 30, 2013, 06:21:11 PM |
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since when does registration date have any factor in intelligence level?
so far no one has agreed with your BS post calling this a 'dump' as if this is something to waste time trying to analyze
everyone is ridiculing you and you come in to try to defend yourself claiming some 2011 mining credentials
sorry you bought at $146
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MAbtc
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April 30, 2013, 06:27:44 PM |
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To be fair, lots of people been running around the spec forum going on about a big rally week starting TODAY.... and we have the opposite. :shrug:
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Qoheleth
Legendary
Offline
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
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April 30, 2013, 06:29:37 PM |
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I assume someone had a sudden need for ~800k in national currency. "but the price touched the bottom of the screen so it is a dump right?"
It was a dump because there was a sudden spike in volume combined with a sudden drop in price. The most obvious explanation for that is someone market-selling a large number of coins. Of course, it's not necessarily important in the big picture - not every "dump" actually matters. But what would you call a volatility spike combined with a price drop? |
If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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AmazonStuff
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April 30, 2013, 06:31:39 PM |
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1. BitPay (or another subject with loads of coins to burn) shorting at the end of the month in order to buy in cheaper
2. 1st of May is labour day, banks are closed in many countries, people dumping because they expect a mini-weekend-dip-alike
3. Most "get rich quick" people are leaving the building after having gotten hurt by buying at 200+$
4. Bitcoin isn't the new cool thing anymore. Google Trends is in decline. Bitcoin got its 5 minutes of celebrity and now it's back to being play-money (notice how low the volume is if compared to March)
5. Others? Write your own or let me know if you agree with any of the above...
(disclaimer: I am long bitcoin and yes I hope they'll skyrocket but still I try to stay objective as opposed to delusional bull)
1st May - Labor day + 5th May - Orthodox Easter, in many countries first working day will be 6th May. |
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lerelerele
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April 30, 2013, 06:43:06 PM |
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Who is more important in the bitcoin price? most of you says "i was here in 2011" but do you understand 146$ without the "only 1 month" people in bitcoin? without the new people the bitcoin price was 80$, can you explain why we have to trust in bitcoin at 146? if not you can begin to sell now because if we dont trust sell yours, you will have 80$ bitcoins.
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EuroTrash (OP)
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April 30, 2013, 06:59:18 PM |
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Who is more important in the bitcoin price? most of you says "i was here in 2011" but do you understand 146$ without the "only 1 month" people in bitcoin? without the new people the bitcoin price was 80$, can you explain why we have to trust in bitcoin at 146? if not you can begin to sell now because if we dont trust sell yours, you will have 80$ bitcoins.
Sorry, I can't understand your writing. I think you're trying to say that bitcoin price is up because of all the people who joined in the last month, otherwise it would be 80$. I won't start debating over that argument of yours as it's not pertinent to the topic of the thread. I also guess you are annoyed at my saying "I'm here since 2011" while you're a newcomer. But that reply of mine was not intended for you. That was just like "trolling a troll". Hope I did not offend anyone in the process and sorry if I did. Cheers and welcome to the party  |
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MOB
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April 30, 2013, 07:08:55 PM |
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Perhaps the fool who spent $75,300 on breaking down the 145 wall yesterday evening decided to cut his losses and get out.
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wonkytonky
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April 30, 2013, 07:50:25 PM |
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someone sold some coins.. i felt the market wasnt moving up anymore and volumes were to low for me.. so .. sold my coins.. too and so it went on and on..
-triggerd some stop orders probably..
-shorters see an opportunity too and puch price down as far as they can..
-gox lag did induce the panic (1min or something)
now there's some good news.. the shorters will have buy back coins.. so.. price will eventualy go up, the order book is still to thin for them to do .right now..
basically:
if the market was ready for a rally... this would not have happend.. the selloff would have been stopped and eaten alive..
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Whatever. And no you haven’t been in bitcoin since 2010. Plus if you really feel the way you do. Then sell. Have conviction. If not keep pounding sand.
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Hexadecibel
Human Intranet Liason
VIP
Hero Member
Offline
Activity: 571
Merit: 504
I still <3 u Satoshi
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April 30, 2013, 08:09:14 PM |
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Needed furniture and capital :p
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superduh
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April 30, 2013, 08:24:22 PM |
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noone knows since noone is talking to anyone
the buy walls are low since some people HOPE it'll crash. why buy at $130 when it could possibly be $100 based on randomness.
the volatility is good for certain lucky day traders.
it could be going up or down and noone would be able to tell you who is moving it where why how much or anything.
until more fundamentals are established this will continue
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ok
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Hawker
Legendary
Offline
Activity: 1218
Merit: 1001
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April 30, 2013, 09:22:07 PM |
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Perhaps the fool who spent $75,300 on breaking down the 145 wall yesterday evening decided to cut his losses and get out.
What did this person do and how do you know about it? Genuine question - I'm new to trading. |
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paulie_w
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April 30, 2013, 11:10:22 PM |
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i'm gonna say... the reason was that someone wanted to buy some dollars?
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michaelGedi
Sr. Member
Offline
Activity: 364
Merit: 250
"to be or not to be, that is the bitcoin"
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April 30, 2013, 11:19:10 PM |
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there is no place of significance that you can short. gox doesn't follow other exchanges. the other exchanges follow gox.
the price ran up $10 yesterday. today its down $10 and back where it started
this is a non-event. stop wasting everyones time just cause you bought higher yesterday and now are scared
you didn't have to read his post, nor write a reply... or I for you for that matter... what a waste of eye and finger energy |
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