SELL EVERYTHING!!!!!

[Zem]

Let's knock down that 12 dollar wall.

[newminerr]

I've just made my first bitcoin

should i sell it? 

[GeniuSxBoY]

i think the person that stole 17000 btc from mybitcoin just resold them all back to us. I think we're in the clear.

[GeniuSxBoY]

lol!!! goddamn it. 



Who posted the 4667.6118 sell order @$12.50   !!!!

[Zem]

That big 12 dollar wall disappeared. Success!

[Mousepotato]

Mining is no longer profitable.  GTFO, casuals.

[GeniuSxBoY]

hahaha that guy at $12.50 did it!!!

[Zem]

So painful to watch, yet I can't look away. :O

[GenTarkin]

So, is whats goin on a good thing? Cuz all Im seein my trade in value is crashin...grr =(

[Zem]

Nope, SELL! SELL! SELL!

[Oldminer]

So, is whats goin on a good thing?

That depends on whether or not your holding bitcoins  

[Zem]

I wish I sold at 13.5-14 Could've made quite a chunk of extra bitcoins right now. Oh, well.

[Oldminer]

$170K dumped in the space of an hour or 2...lol

[Elwar]

I wish I sold at 13.5-14 Could've made quite a chunk of extra bitcoins right now. Oh, well.

I bought $1k at 13.7...it seemed low.

[Zem]

Almost 500 users on mtgoxlive.

[GenTarkin]

wtf is going on?!?!? when will it stop?!?! grrr =(

[Zem]

0.01

[hmblm1245]

how many people are waiting till it hits single digits?

[Oldminer]

I wish I sold at 13.5-14 Could've made quite a chunk of extra bitcoins right now. Oh, well.

I bought $1k at 13.7...it seemed low.

Yea I got caught out a couple times too on the way down to $13. I dumped the lot @ $12.75 and am staying out until I see I see a BIG push upwards. According to the charts, today was the first day of a negative parabolic trend in 3 months on the daily charts. IMO thats huge.

[Zem]

how many people are waiting till it hits single digits?

I'd go all in if it hit single digits because I would will feel alot safer with the investment then. Right now I'm just buying and selling though.

Edit: New low 11.79

[Edward50]

THis is great, bitcoins should be cheap and affordable for all!

Shore up the Ask wall into the $12's, don't let them force the price back into the 12's, we need the new psychological level to stay in the $11's for a while.

[Zem]

Big sell wall at 12....gonna dip lower....

[GenTarkin]

But, if they go too low mining will become unprofitable =( grrrrrr...hopefully miners start droppin off and difficulty lowers for those that still continue to mine hehehe..

[bitclown]

Don't forget that someone is actually buying these coins, they're not evaporating. Those who still buy in on the way down aren't day traders or fiat loving miners...

Well, at least no-one is moaning about deflationary spirals anymore.

[FlipPro]

But, if they go too low mining will become unprofitable =( grrrrrr...hopefully miners start droppin off and difficulty lowers for those that still continue to mine hehehe..

Mining is dead...
Unless you have some customized gear, and thousands of dollars... And even then you may never pay back your equipment.

[Oldminer]

THis is great, bitcoins should be cheap and affordable for all!

Well on a positive note if the price drops low enough it will push some of the big mining operations out of business. Less miners = lower difficulty.

[RandyMarsh]

Any guesses as to when its gonna stop? 10.5?

[Edward50]

But, if they go too low mining will become unprofitable =( grrrrrr...hopefully miners start droppin off and difficulty lowers for those that still continue to mine hehehe..

Mining is dead...
Unless you have some customized gear, and thousands of dollars... And even then you may never pay back your equipment.

How is mining dead? Last I looked as long as the bitcoin was above a few dollars which was about the cost of electricity mining was still profitable.

There is no easy way to make money in this world, you just can't run a stupid computer and expect it to generate you money so easily.  

[Oldminer]

Any guesses as to when its gonna stop? 10.5?

Hard to say. This trend has a LOT of momentum and its still building...

[Zem]

Depends if that buy wall at 11.5 is fake or not.

[FlipPro]

THis is great, bitcoins should be cheap and affordable for all!

Well on a positive note if the price drops low enough it will push some of the big mining operations out of business. Less miners = lower difficulty.

Why would they go out of business? They have the equipment already, and remember most people who run these big operations are most likely doing it from a place where cheap electricity is available, so even if they are breaking even after electricity, why would they sell?

I honestly just don't see difficulty dropping to a reasonable point ever...

[FlipPro]

But, if they go too low mining will become unprofitable =( grrrrrr...hopefully miners start droppin off and difficulty lowers for those that still continue to mine hehehe..

Mining is dead...
Unless you have some customized gear, and thousands of dollars... And even then you may never pay back your equipment.

How is mining dead? Last I looked as long as the bitcoin was above a few dollars which was about the cost of electricity mining was still profitable.

There is no easy way to make money in this world, you just can't run a stupid computer and expect it to generate you money so easily.  

From a short-term money making perspective it's dead. I agree with you though, that mining (even at a loss now) can render profits in the future. Which goes back to my original point of difficulty never dropping back to "easy" levels...

[Elwar]

Cheaper goods for people to buy in BTC I suppose.

[Zem]

I only reason I'd mine right now is to hold long term. Short term just isn't worth it at the moment.

[dub0matic]

soo sad what is going on now is this really all cause of mybitcoins

[Oldminer]

Why would they go out of business? They have the equipment already, and remember most people who run these big operations are most likely doing it from a place where cheap electricity is available, so even if they are breaking even after electricity, why would they sell?

I honestly just don't see difficulty dropping to a reasonable point ever...

I'm not so sure all the big mining operations have the benefit of cheap electricity. Im sure there's a lot of players out there that are operating on slim margins @ $13. And no matter whether electricity is cheap or not, you still need to turn a profit to make mining worthwhile.

With regards difficulty - granted I don't suspect it will drop too much (if at all) but it could put the brakes on it a bit.

[Zem]

New Low: 11.5

[Edward50]

Depends if that buy wall at 11.5 is fake or not.

What wall at 11.5? there is no wall?

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.
That seems the last wall that they can put up now, they are losing the battle for the single digits.

[FlipPro]

The Presidents pen started this crash. The moment he signed the debt deal, people suddenly realized they liked their USD alot more than Bitcoins.

[Zem]

Depends if that buy wall at 11.5 is fake or not.

What wall at 11.5? there is no wall?

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.
That seems the last wall that they can put up now, they are losing the battle for the single digits.

There was a decent sized wall there. It was removed just a minute ago though.

Edit: it's back now, not very big though compared to the 11 wall.

[Bitcoinreminder.com]

Don't be silly, in Europe the holidays season startet.. Many people are on holiday and so there are less new bid offers...

[phorensic]

Don't be silly, in Europe the holidays season startet.. Many people are on holiday and so there are less new bid offers...

Do you really think this affects the bitcoin world?  Nerds don't take holidays, they are glued to their PC or cellphone 24 hours a day.

[Bitcoinreminder.com]

Don't be silly, in Europe the holidays season startet.. Many people are on holiday and so there are less new bid offers...

Do you really think this affects the bitcoin world?  Nerds don't take holidays, they are glued to their PC or cellphone 24 hours a day.

^^ Maybe you are right... ^^

[Oldminer]

Do you really think this affects the bitcoin world?  Nerds don't take holidays, they are glued to their PC or cellphone 24 hours a day.

Yea IMO people throw away their money and investments when they go on holidays 

[stergium]

i see some ridiculous trading move at mtgox of 0.01~0.10 btc @ 11.68 .
is this bots trying to get a fix on the price?
in any case i would not sell under 15$ . its not my estimate that this is what bitcoin worth. no one can estimate that.
its my psychological barrier.  

[bitrick]

Depends if that buy wall at 11.5 is fake or not.

What wall at 11.5? there is no wall?

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.
That seems the last wall that they can put up now, they are losing the battle for the single digits.

I think it is more complex than whether standing orders are fake or not.

For example, I had a small standing order at 11.52 and I cancelled it before we reached it. It is not because I have some devious plan for deception. I just saw a falling knife and decided not to try to catch it. I already bought some as it dropped and I am in no rush to buy more at this point. Might as well see where it stabilizes.

[wndrbr3d]

you can see today by the changes to the order book and market depth that people who were holding out for a rebound cashed out big time with like, ~10k sold @ 12.50. Market depth is out of whack now, so I'm curious to see what happens at the $11 buy wall.

[GenTarkin]

When you guys refer to walls...when looking at mtgox live...those are the vertical  spots right? So, for example there is a HUGE wall at 11$?

[Zem]

Correct sir.

[GeniuSxBoY]

[RandyMarsh]

When you guys refer to walls...when looking at mtgox live...those are the vertical  spots right? So, for example there is a HUGE wall at 11$?

si

[Zem]

Lol.

[GenTarkin]

ROFL ... thanks guys! Im a noob on market stuff, so this all learning for me =P

[indio007]

I don't think this a difficult market move to figure out. It's the beginning of the month. Bills came in i.e. electricity. People need to pay them. I have the funds to wait out the bottom feeders. Hopefully smarter investors are taking possession. Flush out the panickers I say.


On a side note , I think MTGOX has been getting gamed for awhile. Have they reinstituted the  previous transaction fees yet?

[S3052]

you can see today by the changes to the order book and market depth that people who were holding out for a rebound cashed out big time with like, ~10k sold @ 12.50. Market depth is out of whack now, so I'm curious to see what happens at the $11 buy wall.

It looks as if the 11$ wall is the last straw.. before a potential further fall.

[GeniuSxBoY]

from wall-e to RALL-E!!!!!!!!!!!!!

[Zem]

NOOOO SELL SELL SELL.

[Serge]

think all cheap bitcoins have been offloaded for now

[Edward50]

Do you think those bid walls, say the $11 dollar bid wall is people actually wanting to buy bitcoins at that price or do you think that is people trying to hold the price from falling too low?

[Bitcoinreminder.com]

Maybe some of you want to take a look at http://test.bitcoinreminder.com, its a realtime email/sms notification service and new project from me and still in beta.. But its cool, you can set limits and get email notifications if the rate dropps below your limit.. Its free, maybe you want to take a look at it to stay up to date...

[Serge]

Do you think those bid walls, say the $11 dollar bid wall is people actually wanting to buy bitcoins at that price or do you think that is people trying to hold the price from falling too low?

both imo 

[GenTarkin]

Holy crap, its fighting its way backup now!

[piramida]

So everybody sold low who wanted to? Now moving back to 13 so you can buy your coins back This must be the best day for the last two months, volatility wise. Nice stuff, and I'm only +10%.

[RandyMarsh]

ffs, web sockets closed right in the thick of it

EDIT: wait its all good

[GenTarkin]

bleh now goin low again hahahahahaha....too exciting.

[Kartoff]

Its like a vacuum cleaner dusting bethween two walls

[Oldminer]

Its like a vacuum cleaner dusting bethween two walls

out in out in

reminds me of something

[piramida]

out in out in

reminds me of something

well judging by the increased intensity of the out-in movements lately, we're reaching something here

[Kartoff]

Me too...

[piramida]

Me too...

Don't tell, we don't want to know what you are doing there

[Zem]

Okay I bought back in right before the push up happened. Now you guys can BUY BUY BUY so I can make some money 

[FlipPro]

This is disgusting  !!!!

[RandyMarsh]

BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY! BUY!

[FlipPro]

lol!!! goddamn it. 



Who posted the 4667.6118 sell order @$12.50   !!!!

Damn manipulators, notice how that order disappeared.

[Mousepotato]

I just sold all my BTC at 11.8X.  So naturally it will go up now.  You're welcome.

[Zem]

So much manipulation.

[Mousepotato]

I love all the bulls**t .05 orders driving the price down... then when it gets nice and low, you see the larger double digit orders come online.  Hmm, not a bad strat actually.

[GeniuSxBoY]

I just sold all my BTC at 11.8X.  So naturally it will go up now.  You're welcome.

Lol... well It was 5 cents away from my bid at $11.51 when it went up to $12.40... and I thought "well it could go back up to $13.50" but I was the last to buy when it dropped to $11.80 again. haha

[Oldminer]

Lol... well It was 5 cents away from my bid at $11.51 when it went up to $12.40... and I thought "well it could go back up to $13.50" but I was the last to buy when it dropped to $11.80 again. haha

I'm timing my buys on your posts 

[Zem]

CRASHHHHH!

[PatrickHarnett]

Ride the roller coaster - it goes down, it goes up.  It's fun playing with something with this level of volatility (with real money).  The discussion about walls/levels is nice and fake as people can swap in/out their bids/offers.

[mike85123]

I am getting good at buying high and selling low. Way too much movement for my liking!

[cloon]

I am getting good at buying high and selling low. Way too much movement for my liking!

think longterm!

[hmblm1245]

Seems like whenever i watch price goes down. I should turn off my pc for a month to return to a $100 btc.

[Nagle]

Mt. Gox, last 45 days.

The overall trend since the Mt. Gox screwup in June has been downward. This is normal after a bubble.

As I keep pointing out, it takes about $100,000 in new cash every day to feed the beast. It's not coming in any more.

[Digigami]

anyone notice, on cadvirtex someone just sold enough coins for the price to drop from around $11 to $1 

[RandyMarsh]

anyone notice, on cadvirtex someone just sold enough coins for the price to drop from around $11 to $1 

OMG... thats over... FIFTY Bitcoins.... 

[Digigami]

lol yeah, very low volume on cadvirtex.. crazy that 50 btc could swing it that much

[piramida]

So you are saying someone sold BTCs there at 1$/BTC? Hmm, smart guy he probably is.

[Zem]

Is the action over? Should I go to sleep? Hmmmmmm.

[RandyMarsh]

So you are saying someone sold BTCs there at 1$/BTC? Hmm, smart guy he probably is.

lol a grand total of 0.8 BTC was bought for 1.1CAD/BTC

[old_engineer]

The roller coaster has helped me move my cash from mt. gox to tradehill, with the spread paying for the two exchange transactions (1.2% total fees).  Managed to lose no money, and I think Tradehill is a safer place to have cash than Mt. Gox.

Bonus: looks like Tradehill market data has a smiley face right now.
https://www.tradehill.com/MarketData/

[Edward50]

Anyone know what happened to the 10,000 bitcoin bid wall at $11 dollars? Did they pull out because of the high risk of actually having to buy all those coins at $11?

[Hunterbunter]

Anyone know what happened to the 10,000 bitcoin bid wall at $11 dollars? Did they pull out because of the high risk of actually having to buy all those coins at $11?

It looked to me like it was actually eaten up for the most part.

[Zem]

See if you guys listened to me yesterday you wouldve SOLD EVERYTHING and you could've bought back in right now making a nice chuck on extra coins. Tsk tsk tsk.