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seafarer124 (OP)
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October 02, 2013, 05:33:46 PM |
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What is happening?
Price is dropping fast.
BitStamp site is unavailable.
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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MerchantMiner
Newbie
 Offline
Activity: 56
Merit: 0
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October 02, 2013, 05:34:52 PM |
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What is happening?
Price is dropping fast.
BitStamp site is unavailable.
Silk road got busted the owners is arrested , cops seized bitcoin assets |
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drrussellshane
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October 02, 2013, 05:35:09 PM |
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What is happening?
Price is dropping fast.
BitStamp site is unavailable.
Decreased demand due to seizure of Silk Road? |
Buy a TREZOR! Premier BTC hardware wallet. If you're reading this, you should probably buy one if you don't already have one. You'll thank me later.
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Melbustus
Legendary
Offline
Activity: 1722
Merit: 1003
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October 02, 2013, 05:35:53 PM |
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What is happening?
What has been a likely event for a while happened, and immature, short-term thinking, weak-minded "traders" are over-reacting. |
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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hugolp
Legendary
Offline
Activity: 1148
Merit: 1001
Radix-The Decentralized Finance Protocol
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October 02, 2013, 05:38:27 PM |
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What is happening?
Price is dropping fast.
BitStamp site is unavailable.
Decreased demand due to seizure of Silk Road? If anything is happening right now is due to speculators and panick users selling, but it was quiet for a big while. |
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pinger
Legendary
Offline
Activity: 1512
Merit: 1001
Bitcoin - Resistance is futile
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October 02, 2013, 05:38:36 PM |
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What is happening?
What has been a likely event for a while happened, and immature, short-term thinking, weak-minded "traders" are over-reacting. Total speculation, cheap coins again, thanks weak-minded sheeps  |
For rent
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seafarer124 (OP)
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October 02, 2013, 05:40:48 PM |
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What is happening?
What has been a likely event for a while happened, and immature, short-term thinking, weak-minded "traders" are over-reacting. Maybe lucky day for me tomorrow. Sent funds to BitStamp on Monday, should arrive tomorrow. Lucky I didn't buy earlier today. I assume their site is overloaded with panic selling. |
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Xiaoma
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October 02, 2013, 06:57:32 PM |
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It is so overloaded orders got $5 to $10 slippage  |
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mccoyspace
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October 02, 2013, 07:56:43 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? |
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Xiaoma
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October 02, 2013, 08:34:28 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... |
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theonewhowaskazu
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October 02, 2013, 08:55:07 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. |
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MoreFun
Legendary
Offline
Activity: 1008
Merit: 1003
WePower.red
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October 02, 2013, 09:00:35 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order  |
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theonewhowaskazu
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October 02, 2013, 09:01:05 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order At the very least it caps your slippage. |
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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October 02, 2013, 09:13:52 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order Unless the low ask is taken before your order hits |
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Xiaoma
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October 02, 2013, 09:35:46 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order At the very least it caps your slippage. That in english translates to "at the very least prevent you from buying". Try this little experiment: put a market order when price is 90, and a limit order at 95. A few minutes later price is 100 and the market order gets executed, but the limit order will be still there. market order -> slippage, limit order -> no buy Now I don't know if Gox works in a weird way, but this is how it is on bitstamp, market orders get always executed first, and not even all of them. |
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theonewhowaskazu
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October 02, 2013, 11:56:49 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order At the very least it caps your slippage. That in english translates to "at the very least prevent you from buying". Try this little experiment: put a market order when price is 90, and a limit order at 95. A few minutes later price is 100 and the market order gets executed, but the limit order will be still there. market order -> slippage, limit order -> no buy Now I don't know if Gox works in a weird way, but this is how it is on bitstamp, market orders get always executed first, and not even all of them. Uh, yea. Thats the entire point of a limit order. Try this little experiment: Put a market order when price is $90, and then something weird happens and the price goes up to $200 (theoretically, I'm not saying this'll actually happen). Suddenly you are getting a "bad" price. Or, if you had put your limit, at someplace somewhat reasonable, like $100, you would maybe have gotten a good at a good price, while not getting any screwy rip-off prices for the rest. |
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smoothie
Legendary
Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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October 07, 2013, 07:21:08 AM |
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And we are basically back to where we were before the news of SR being shutdown was announced.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
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johnmatrix
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October 07, 2013, 08:47:23 AM |
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When something bad happen and make the bitcoin price to crash, the recovery is every time more faster than the previous one, the first ones took over a week or more, this time it took only two days, there will be the time when nobody will panic with such news and the price will remain the same.
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Xiaoma
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October 07, 2013, 09:00:10 PM |
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It is so overloaded orders got $5 to $10 slippage why are you using market orders? When price is rising from 90 to 120 in 10 minutes the market order is the only way to buy. Unless you know a better way that doesn't involve black magic... You can always limit order above market price. That's market order At the very least it caps your slippage. That in english translates to "at the very least prevent you from buying". Try this little experiment: put a market order when price is 90, and a limit order at 95. A few minutes later price is 100 and the market order gets executed, but the limit order will be still there. market order -> slippage, limit order -> no buy Now I don't know if Gox works in a weird way, but this is how it is on bitstamp, market orders get always executed first, and not even all of them. Uh, yea. Thats the entire point of a limit order. Try this little experiment: Put a market order when price is $90, and then something weird happens and the price goes up to $200 (theoretically, I'm not saying this'll actually happen). Suddenly you are getting a "bad" price. Or, if you had put your limit, at someplace somewhat reasonable, like $100, you would maybe have gotten a good at a good price, while not getting any screwy rip-off prices for the rest. Why in hell would you want to end up with your USD still in your account after the price raise $30 and your limit orders still untouched (and obsolete)? I really don't get what you gain from waiting that price is back to the high levels as before the crash... Unless you don't want to have cheap coins, people have strange fetish.  |
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