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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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proudhon
Legendary
 Offline
Activity: 2198
Merit: 1311
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August 06, 2011, 01:33:50 PM |
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I'm going to go out on a limb here and guess that it won't hold... |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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fastandfurious (OP)
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August 06, 2011, 01:34:40 PM |
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I'm going to go out on a limb here and guess that it won't hold... +1 on that |
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fastandfurious (OP)
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August 06, 2011, 01:49:26 PM |
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The support level is broken, under 8,70 now.
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Bitcoin Swami
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August 06, 2011, 01:49:41 PM |
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I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value.
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BTC Economist
Member
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Activity: 112
Merit: 10
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August 06, 2011, 01:53:51 PM |
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There is so much panic now I am sure even the most ardent BTC supporters are slowly liquidating at least a portion of their supply (but, of course, denying that they are doing so).
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When BTC soars, you need to be READY! PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!
17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
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Piper67
Legendary
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Activity: 1106
Merit: 1001
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August 06, 2011, 01:56:48 PM |
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There is so much panic now I am sure even the most ardent BTC supporters are slowly liquidating at least a portion of their supply (but, of course, denying that they are doing so).
Heh... And I'm sure you're a government plant (but of course you'll deny that you are)  For the benefit of everyone else, someone just dumped upwards of 11,000 BTC all at once a few hours ago. Most likely whoever hacked mybitcoin and/or bitomat. Teething pains. |
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proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
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August 06, 2011, 01:57:37 PM |
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There is so much panic now I am sure even the most ardent BTC supporters are slowly liquidating at least a portion of their supply (but, of course, denying that they are doing so).
Don't worry guys there's a giant less-than-1000 BTC wall holding the price oever $8. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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csshih
Member
Offline
Activity: 96
Merit: 10
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August 06, 2011, 01:59:31 PM |
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700btc left of that wall, and dropping.
Craig
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fastandfurious (OP)
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August 06, 2011, 02:03:46 PM |
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According to the order depth of clarkmoody it only takes 15602 BTC (sold at the market right now) to reach 1,16 dollars. I can see it if I use 1000 rows.
Can someone confirm this?
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BTC Economist
Member
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Activity: 112
Merit: 10
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August 06, 2011, 02:07:51 PM |
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Well we are under $8 now.
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When BTC soars, you need to be READY! PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!
17JzkreEBYNHQM9tMTiUKCHANofwzHRLhP
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fastandfurious (OP)
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August 06, 2011, 02:20:20 PM |
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Another chance at selling at high 8 dollar numbers...
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kiwiasian
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August 06, 2011, 02:21:39 PM |
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Well we are under $8 now.
...What in the world is in your "crash preparation kit"? |
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shmadz
Legendary
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Activity: 1512
Merit: 1000
@theshmadz
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August 06, 2011, 02:23:00 PM |
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Well we are under $8 now.
...What in the world is in your "crash preparation kit"? it's a cyanide pill, enjoy! |
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
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August 06, 2011, 02:34:53 PM |
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Another chance at selling at high 8 dollar numbers...
Haha, +1 |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Anduril
Member
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Activity: 92
Merit: 10
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August 06, 2011, 03:17:20 PM |
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$3 USD drop in 24 hours, looking at market depth there's nothing stopping slide down to $6 USD at the moment.
Nobody seems to be buying.
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proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
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August 06, 2011, 03:54:27 PM |
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$3 USD drop in 24 hours, looking at market depth there's nothing stopping slide down to $6 USD at the moment.
Nobody seems to be buying.
Yeah, we're still very top heavy and there are a lot of folks who got lots of coins for less than a dollar and selling even at $6 will still yield a ridiculous return on investment. Also, $6 is, I think, still profitable for a lot of miners. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Anduril
Member
Offline
Activity: 92
Merit: 10
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August 06, 2011, 04:04:15 PM |
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Yeah, we're still very top heavy and there are a lot of folks who got lots of coins for less than a dollar and selling even at $6 will still yield a ridiculous return on investment. Also, $6 is, I think, still profitable for a lot of miners.
The market is in wild swing mode now, given the fact that relatively small transactions will affect price immediately. Looking at the data right now it is even possible that there will be a bounce up to 9.2, after which the price could slide back all the way to 7.7. This could go on all weekend. However, another big sale and price would go down to 6 easily. |
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grod
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August 06, 2011, 04:29:38 PM |
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Looking at number of bitcoins being sent relative to the past few days I'm calling a trading range (again). The cost in power to cough up a BTC at $6 even for 'cheap' power, and I'm going out on a limb thinking 3/4 of the current mining power knows this and will elect to hold coins to the bitter end at the $8 price level -- at least for a few weeks. As always early adopters are a complete wild card and changes in their behavior overrides any technical analysis.
If we have a few weeks of $8 then another stairstep and trading range at $6 is definitely possible.
As far as the exchange hacks -- those bitcoins add up to only a week or so of mining. Non-issue.
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