BEAR TRAP :)

[kireinaha]

It looks like things are slowing down a little bit. I suggest we all take a day off and buy some Subway sandwiches with our $700 bitcoins. 

[antimattercrusader]

I'm getting fat from buying dominos gift cards on eGifter.

[zeroday]

I guess everyone understands that recent dip has been caused by a manipulation.

Those who sold in panic, at least got a costly lesson and hopefully won't repeat it again.

Those who hold their coins, will enjoy notable gains soon.

[Mirsad]

I guess everyone understands that recent dip has been caused by a manipulation.

Those who sold in panic, at least got a costly lesson and hopefully won't repeat it again.

Those who hold their coins, will enjoy notable gains soon.

Those who sold their coins @ top and bought new ones @ 400$ will enjoy their notable gains soon.


Lesson:
Buy and Hold or sell on the way up and buy on the way down. Never panic sell!

[klovishey]

The problem is that there are many n00b traders now with a lot of bitcoins in their possession. Once they see a million bucks in their account, they got ass whooped by their girlie to sell the shit. This is a phase we have to deal with. The 1000+ coins from last night are now shared with others instead of one n00b trader. But there are more of them and they will cash out because a million is still a million. So we need to thin that out before we have a stable coin.

The n00b traders are not problem at all. They help others buy cheap coins. Everybody is happy

[proudhon]

The problem is that there are many n00b traders now with a lot of bitcoins in their possession. Once they see a million bucks in their account, they got ass whooped by their girlie to sell the shit. This is a phase we have to deal with. The 1000+ coins from last night are now shared with others instead of one n00b trader. But there are more of them and they will cash out because a million is still a million. So we need to thin that out before we have a stable coin.

The n00b traders are not problem at all. They help others buy cheap coins. Everybody is happy

It's unfortunate, but panic sellers have made a lot of us wealthy.

[zeroday]

It's unfortunate, but panic sellers have made a lot of us wealthy.

I've got my piece of cake from recent dip too, but I don't think this way of slaughtering of noobs is good for bitcoin economy. It just slows down the adoption.

How many potential newcomers have given up on the idea of jumping into bitcoin today ?

[piramida]

How many potential newcomers have given up on the idea of jumping into bitcoin today ?

All the weak ones. The less panicky types we have trading - the better, so only people who understand that 50% price movements due to low liquidity is normal in the newborn market can trade. Or let me put it this way - only people who actually believe that bitcoin is here to stay can survive daytrading this. Other will be slaughtered sooner or later.

[barbs]

bullshit, what do you want a circle of 100 people trading this stuff? The only way it will catch on is if people don't feel like this is a total rip off when they come here.

+1 to not killing noobs for the sake of mass adoption

[BarkinTree]

bullshit, what do you want a circle of 100 people trading this stuff? The only way it will catch on is if people don't feel like this is a total rip off when they come here.

+1 to not killing noobs for the sake of mass adoption

that's just not how it works tho. it's a nice idea to "save the noobs" but the fact is, they will panic sell and there is money on the table. someone will take it.

[Boxman90]

I guess everyone understands that recent dip has been caused by a manipulation.

Those who sold in panic, at least got a costly lesson and hopefully won't repeat it again.

Those who hold their coins, will enjoy notable gains soon.

Right, because the rise was clearly not manipulation at alll 

[JimboToronto]

It's been quite a day for the bears.

http://www.youtube.com/watch?v=uxFIGWm9M6w

[proudhon]

bullshit, what do you want a circle of 100 people trading this stuff? The only way it will catch on is if people don't feel like this is a total rip off when they come here.

+1 to not killing noobs for the sake of mass adoption

that's just not how it works tho. it's a nice idea to "save the noobs" but the fact is, they will panic sell and there is money on the table. someone will take it.

Exactly.  That's why I say it's unfortunate.  I'm not just going to pass an opportunity to make easy money.  Sorry to the weak hands.  I learned my lessons the hard way, too, and I'm lucky enough to be in a position to take advantage of people who are now essentially what I was in 2011.  One of the big lessons I learned in 2011 was that panicing usually doesn't work out well.

[greaterninja]

BTC CHINA:

5351 Chinese Yuan equals
878.23 US Dollars


BTC is actually at the same price it was at yesterday before the rally.

I bet it will go up in 12 hours.  Chinese demand is extremely strong.

[JekyllIsland]

I guess everyone understands that recent dip has been caused by a manipulation.

Those who sold in panic, at least got a costly lesson and hopefully won't repeat it again.

Those who hold their coins, will enjoy notable gains soon.

I sold at 680 and bought back at 490 

[anu]

I guess everyone understands that recent dip has been caused by a manipulation.

Those who sold in panic, at least got a costly lesson and hopefully won't repeat it again.

Those who hold their coins, will enjoy notable gains soon.

I sold at 680 and bought back at 490  

This is the IRS. Please report your gains immediately. Non-compliance will be regarded as domestic terrorism and treated as such.

Thank you for your cooperation.

Daniel Werfel

[AndrewWilliams]

This is the IRS. Please report your gains immediately. Non-compliance will be regarded as domestic terrorism and treated as such.

Thank you for your cooperation.

Daniel Werfel

I thought you guys were having a party and taking expensive retreats on the tax payer's dime?

[EvilPanda]

BTC CHINA:

5351 Chinese Yuan equals
878.23 US Dollars


BTC is actually at the same price it was at yesterday before the rally.

I bet it will go up in 12 hours.  Chinese demand is extremely strong.

I hope so. I bought at the first dip and watched as it goes up and down again whole day. People were going crazy panic buy-> panic sell and so on  

[RicePicker]

It's unfortunate, but panic sellers have made a lot of us wealthy.

I've got my piece of cake from recent dip too, but I don't think this way of slaughtering of noobs is good for bitcoin economy. It just slows down the adoption.

How many potential newcomers have given up on the idea of jumping into bitcoin today ?

I hope you bought all the coins to your stuffing in this bear trap...

[PirateHatForTea]

Yes, the bear trap, before the running series of bull traps that have lasted all day today.

I love how every time BTC prices go nuts, the forums fill with people shouting about 'new paradigms' and 'what bubble?', and bears are scorned. And every time the result is exactly the same.

Yes BTC has a lot of potential, yes it has been, and will probably continue to, grow exponentially, at least for some time. But what we saw in the last few days was super-exponential growth - it looked exponential even on the log charts!

Learn to recognize this and you will do very well out of these sorts of price movements.