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Author Topic: CRASH!  (Read 23195 times)
airdata
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July 01, 2011, 06:55:47 PM
 #61

This is just the normal weekend slump. Happens almost every weekend.

good.. i got some cash in my accounts in case buying looks like a good idea Smiley
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eyal
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July 01, 2011, 06:57:43 PM
 #62

Got some at 16! I learned to have $$ ready in the account for the weekend slump

http://Http://openbitcoin.biz - Open Bitcoin Business - an OSS based service, where the contributors can be paid!
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July 01, 2011, 07:14:10 PM
 #63

I have noticed that the price on tradehill seems more stable than mt gox. What I mean is that the tradehill price moves slower, when it  moves it goes in smaller steps. Mt Gox seems to have a much higher volume of bids/asks, so I would think it would be the one moving slower, and tradehill with the smaller volume should be more susceptible to sudden jerks if anyone buys or sells a large quantity. Why is this? I have never used Mt. Gox., is there something different in the way the two exchanges operate that allows MtGox to jump so suddenly but not tradehill?

Mtgox keeps tradehill bounded, tradehill does not keep mtgox bounded.  Also, mtgox has the biggest players.

As we slide down the banister of life, this is just another splinter in our ass.
datguywhowanders
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July 01, 2011, 08:14:08 PM
 #64


Umm, yes. 1: buy on mt gox. 2: get BTC deposit address from Tradehill. 3: withdraw BTC from Mt. Gox to that address. 4: sell on Tradehill.


I was kind of wondering if that would work, thanks for answering the question for me.

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A Great Time to Start Something!


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July 01, 2011, 10:33:09 PM
 #65

Alert!
The Bulls fought hard, but the market just clearly broke down below 16.
The price move is not dramatic, yet, but the sellers are lowering the "ask" price quickly.

15DYJpWJe9H1YofsNQbP9JEWWNn7XPZgbS
proudhon
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July 01, 2011, 10:46:46 PM
 #66

Alert!
The Bulls fought hard, but the market just clearly broke down below 16.
The price move is not dramatic, yet, but the sellers are lowering the "ask" price quickly.

Hmmm, might be time...
RandyMarsh
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July 01, 2011, 11:01:58 PM
 #67

Its happening again, oh no, this truly is the end for bitcoin, i can see it going right to zero this time

Stan?! STAN?!?!
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July 01, 2011, 11:03:29 PM
 #68

I had to hurry up and cancel a lot of buy orders.  drop, drop, drop baby!
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July 01, 2011, 11:28:15 PM
 #69

BUY and hold (or use) if the price goes down BUY some more and hold (or use)
chuckypalumbo
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July 01, 2011, 11:50:02 PM
 #70

Why are so many sellers giving in at these lower levels?

If you're looking to sign up for an exchange try Bitcoin7 or Tradehill, referral codes are listed below. Sign up for Tradehill and get 10% off of every trade you ever make.

https://www.bitcoin7.com/?ref=6383

http://www.tradehill.com/?r=TH-R15532
bitclown
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July 01, 2011, 11:54:23 PM
 #71

Why are so many sellers giving in at these lower levels?
They've got half or no fees so many are probably counting on buying back at lower prices.
GeniuSxBoY
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July 02, 2011, 12:17:44 AM
 #72

Bitcoin has been going down all week.


The US stock market has been rallying all week.


Coincidence?
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July 02, 2011, 12:32:53 AM
 #73

Alert!
The Bulls fought hard, but the market just clearly broke down below 16.
The price move is not dramatic, yet, but the sellers are lowering the "ask" price quickly.

Hmmm, might be time...

I was correct, now how to choose a bottom? 

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July 02, 2011, 12:33:42 AM
 #74

Bitcoin has been going down all week.


The US stock market has been rallying all week.


Coincidence?

Everyone is selling their Bitcoins to prop up the DOW!

Put all of your money into FRNs!!!

http://www.bitpools.com
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PatrickHarnett
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July 02, 2011, 12:44:36 AM
 #75


Umm, yes. 1: buy on mt gox. 2: get BTC deposit address from Tradehill. 3: withdraw BTC from Mt. Gox to that address. 4: sell on Tradehill.


I was kind of wondering if that would work, thanks for answering the question for me.

Unless they send you a notice like I got this week:

charlie, Jun-30 15:20 (JST):
Hello,
It seems like liberty reserve is having a delay on the withdraw and could take up to 3 - 5 days for your funds to show on your account
balance. But your transfer has been processed.
Thanks,
MtGox.com Team
________________________________________
Vandroiy
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July 02, 2011, 12:48:44 AM
 #76

@GeniuSxBoY: In fact, I sold some and might get put options for the money elsewhere... maybe I'm just a price drop maniac? Cheesy

No... seriously, I think you guys have a p > 60% crash configuration there. Overconfidence-only market with declining public interest and considerable running costs (miners, exchange fees). If you're holding BTC for speculation, you need a good bit of luck now.

But what am I talking about, we're already halfway into a crash. 32 to <16, that's more than a factor 2, yet people fear further drops.
RogerR
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July 02, 2011, 12:54:26 AM
 #77

@Vandroiy - I was just gonna ask whether I was the only one who thinks a crashing market has a thing of a beauty. Must be masochistic, but there's just something about chaotic entropy and people with too many BTCs at hand eagerly trying to get rid of them. This being said, I'm a firm believer and hold my coints till the worthless end. Grin
tvbcof
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July 02, 2011, 01:04:20 AM
 #78

@Vandroiy - I was just gonna ask whether I was the only one who thinks a crashing market has a thing of a beauty. Must be masochistic, but there's just something about chaotic entropy and people with too many BTCs at hand eagerly trying to get rid of them. This being said, I'm a firm believer and hold my coints till the worthless end. Grin

You are not alone.  In an odd way I sort of feel the same now that you mention it.  Win, lose, or draw, it's an interesting ride...and I never bet more than I can afford to lose.  I guess for me it seems like the most promising thing so far to have a chance of shaking the truly corrupt monetary systems which surround us.  If not, I hope that the bitcoin project can at least help carve a trail for something which can...and if not, the couple grand I waste will likely evaporate anyway.

Vandroiy
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July 02, 2011, 01:26:30 AM
 #79

Yes, a lot like what happened in early March.

? What market are you talking about? Or is this some kind of joke about the inactivity and value at 80 cent back in March? Or maybe the ArtForz sale day to 50 cent in early April is what you mean? I don't understand.

Anyways, the current pattern of media hype followed by decline, also sheer amount of actual money in the game, has not happened before in Bitcoin country.


@RogerR, tvbcof:

I'm very much enjoying the chaos ride ever since the 30 USD hike. But why would you take further losses if you guess a crash likely now? You both talk as if you see the crash scenario very likely -- if there are more people like that, another price hike becomes quite improbable. Yet hold at all cost?
bitclown
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July 02, 2011, 01:47:03 AM
 #80

But why would you take further losses if you guess a crash likely now? You both talk as if you see the crash scenario very likely -- if there are more people like that, another price hike becomes quite improbable. Yet hold at all cost?
Let me guess; because Bitcoin is a fascinating technology and fascinating technologies are fun. The genie is out of the barn for crypto-currencies, and it can only become better. If you haven't invested big bucks in it it doesn't matter. The spare-time would have been wasted on other, less ground-breaking things anyway.
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