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Author Topic: All this rage and BTC valuation is almost back where it was before the event.  (Read 2961 times)
Vladimir
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June 20, 2011, 08:55:20 PM
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We shall set up a rota so that an exchange is hacked (voluntarily, as a public service) every week. Great for publicity.

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SgtSpike
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June 20, 2011, 08:58:45 PM
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Agreed.  ^.^
bitcoinconnection
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June 20, 2011, 09:02:36 PM
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I sounds very interesting. I will follow all the post.








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TraderTimm
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June 20, 2011, 09:04:29 PM
 #4

Hah, like a bitcoin "lottery" for whitehats.

You are right though Vladimir, prices haven't collapsed as all the fear-mongers said.

Tradehill Bid/Offer: 13.77/14.75

Last: 14.75

Heck, could even get to parity with the Mt.Gox last of 17.50 before they open...

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fornit
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June 20, 2011, 09:08:12 PM
 #5

still, getting to 50$ at the end of the month mgiht be a little hard now. thats a disappointment. on the other hand, a rally is much sweeter when unexpected  Grin

lemonginger
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June 20, 2011, 09:09:59 PM
 #6

mt gox hasn't even reopened yet. We will almost definitely be back down into single digits when they do. Not saying that is a bad thing, just that the price implications of this arent known yet.
Jaime Frontero
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June 20, 2011, 09:11:29 PM
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the rage of the trolls is paid for.

the rage of those who were unaffected is meaningless.

the rage of those who were affected is... well... hmmm.  they don't seem to be enraged.  i suppose because there doesn't appear to be that large an impact.

as you imply, vladimir - no such thing as bad publicity.

and it's all good for bringing in some beefed-up security.
Synaptic
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June 20, 2011, 09:13:08 PM
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the rage of the trolls is paid for.

the rage of those who were unaffected is meaningless.

the rage of those who were affected is... well... hmmm.  they don't seem to be enraged.  i suppose because there doesn't appear to be that large an impact.

as you imply, vladimir - no such thing as bad publicity.

and it's all good for bringing in some beefed-up security.

Amen.

I for one am PUMPED, gonna make a huge profit from all these small scared fish.
Desu
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June 20, 2011, 09:15:10 PM
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Bitmarket USD. is $16.25

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epii
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June 20, 2011, 09:19:35 PM
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+1 Vladimir

I predict there will be some chaos when Mt. Gox reopens, because a large fraction of all actively circulated bitcoins are caught up in their servers.  However, the price is the price - the consensus of the markets that, at this point in time, 1 BTC is worth roughly $14 or $15, is in fact a consensus of users that this is the correct valuation.  There's no reason why this evaluation would change depending on whether or not Mt. Gox is open - the only issue with the reopening is that the flood of liquidity could spook some traders for a day or two.  But the fact that the price has held more or less steady through this crisis tells me that Bitcoin is more stable than even the optimists could have predicted.

Vires In Numeris.
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June 20, 2011, 09:20:36 PM
 #11

A temporary fall back to ~10.25 (or even a 'new low' of ~6.75 to 7.5, which matches an old trading range) is easy to predict, will you be buying or panic-selling?
The drama continues, stay tuned...

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Vladimir
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June 20, 2011, 09:24:20 PM
 #12

will you be buying or panic-selling?

We will be watching...

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mandros
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June 20, 2011, 09:33:27 PM
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+1 Vladimir

I predict there will be some chaos when Mt. Gox reopens, because a large fraction of all actively circulated bitcoins are caught up in their servers.  However, the price is the price - the consensus of the markets that, at this point in time, 1 BTC is worth roughly $14 or $15, is in fact a consensus of users that this is the correct valuation.  There's no reason why this evaluation would change depending on whether or not Mt. Gox is open - the only issue with the reopening is that the flood of liquidity could spook some traders for a day or two.  But the fact that the price has held more or less steady through this crisis tells me that Bitcoin is more stable than even the optimists could have predicted.

Right now selling a little more than 1.000 coins worth it roughly $1.000 on TradeHill would half the price to $6.5 per bitcoin.

I think TradeHill has too small volume to draw conclusions on it. When all Mt Gox users get their money back and their coins back we'll see how they react.
epii
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June 20, 2011, 09:34:04 PM
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will you be buying or panic-selling?
I plan to be panic-buying, panic-selling, and panic-dancing-around-naked.  It will be a fun day.

Vires In Numeris.
Gandlaf
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June 20, 2011, 09:37:59 PM
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A temporary fall back to ~10.25 (or even a 'new low' of ~6.75 to 7.5, which matches an old trading range) is easy to predict, will you be buying or panic-selling?
The drama continues, stay tuned...

It might even work out in a completely different way. Whilst quite a few people now probably have doubts about the exchanges, especially MtGox, I have seen very few comments doubting the security of Bitcoins themselves.
So (ironically?) this scare may actually lead to a rise in Bitcoins. Why? The fastest way to get money out of MtGox is via Bitcoins!
My strategy will be to buy BTC as soon as MtGox reopens, cash them out to my wallet and then wait and see how things work out.

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epii
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June 20, 2011, 09:38:25 PM
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+1 Vladimir

I predict there will be some chaos when Mt. Gox reopens, because a large fraction of all actively circulated bitcoins are caught up in their servers.  However, the price is the price - the consensus of the markets that, at this point in time, 1 BTC is worth roughly $14 or $15, is in fact a consensus of users that this is the correct valuation.  There's no reason why this evaluation would change depending on whether or not Mt. Gox is open - the only issue with the reopening is that the flood of liquidity could spook some traders for a day or two.  But the fact that the price has held more or less steady through this crisis tells me that Bitcoin is more stable than even the optimists could have predicted.

Right now selling a little more than 1.000 coins worth it roughly $1.000 on TradeHill would half the price to $6.5 per bitcoin.

I think TradeHill has too small volume to draw conclusions on it. When all Mt Gox users get their money back and their coins back we'll see how they react.

Well, I'm judging based on TradeHill, Britcoin, Bitmarket, Bitcoin7, Bitomat and Bitcoin2Cash.  This is what I meant by "consensus of the markets".  The psychology of traders worldwide seems to be in agreement as to the correct price of Bitcoins at the current time.  I gauge the fact that the volume of all of these markets combined is less than 1/10th of Mt. Gox's to be largely irrelevant, but I could very well be proven wrong.

Vires In Numeris.
imperi
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June 20, 2011, 09:39:02 PM
 #17

My prediction:

There will be no fallback, or at most a few dollars. So essentially none.

Prices will stay above $14 for the entire day.

If I'm right, I'm going to quote myself and laugh at all the retards who think it will go to single digits.
Synaptic
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June 20, 2011, 09:40:39 PM
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My prediction:

There will be no fallback.

Prices will stay above $14 for the entire day.

If I'm right, I'm going to quote myself and laugh at all the retards who think it will go to single digits.

I actually think you're totally correct.

But it's not going to be organic price stability.

It's going to be other big players keeping their little pump and dump looking inviting for a little while longer.
AtomicTrader
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June 20, 2011, 10:05:18 PM
 #19

I think this attack on Mt.Gox was a reality check. People's valuation of BTC will be lower as a result. Single digits is not unreasonable.
SlaveInDebt
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June 20, 2011, 10:10:59 PM
 #20

Where will BTC be in the coming week.
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