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Author Topic: A question about the recent crash...  (Read 1929 times)
Anonymous
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February 23, 2011, 03:39:54 AM
 #1

http://atlaslgo.tumblr.com/post/3457311409
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February 23, 2011, 04:04:49 AM
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Mullvad cost 6BTC/mo before and after. A post on witcoin still costs .01BTC. Maybe there was no crash, and this is just temporary dollar strength ;-)
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February 23, 2011, 05:17:18 AM
 #3

Prices are already firming up again on MtGox.  I think a lot of people were holding on to their bitcoins so they could sell at a dollar, and much of that selling could be over.

"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
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February 23, 2011, 08:09:57 AM
 #4

Could be, I found this drop quite exciting.

Something I've learned is that I am not a good currency speculator.

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February 23, 2011, 09:28:11 AM
 #5

Personally, I think I'm done trying to speculate at all. I'll stash what coins I have now and will just fund any purchases I make directly by buying more BTC on the spot at whatever the price is then.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Anonymous
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February 23, 2011, 09:46:55 AM
 #6

Use the principle of dollar cost averaging where you buy some coins each week and over time the return should even out and you wont have to keep timing the market.
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February 23, 2011, 10:01:00 AM
 #7

Use the principle of dollar cost averaging where you buy some coins each week and over time the return should even out and you wont have to keep timing the market.

Yes but...I have no dollars  Sad

So it's speculation for me. Well not really, I have the various ventures I'm involved in.

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February 23, 2011, 10:57:12 AM
 #8

i think i made a profit on the price dip.

1) lost 3 beers (sold on mtgox 50 btc @85 cents, bought back less of them @1.05$)
2) gained 4 beers (sold later at bitcoin-central @80cents, bought back @60 cents)

so 1 day i felt stupid, another day i felt really good and proud of myself.
btw the time i lost was not worth the beer

You can't build a reputation on what you are going to do.
marcus_of_augustus
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February 23, 2011, 11:27:51 AM
 #9


Why do you use dollar and not gold to basis the BTC?

It is all in your head, value is like dust in the wind, sometimes it is invisible and other times it is a fearsome maelstrom bearing down on you.

Take the blue pill, reality is within your grasp.

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February 23, 2011, 12:16:37 PM
 #10

Why do you use dollar and not gold to basis the BTC?

Only Bitcoin-central and Bitcoin-market deal with PecunixGAU directly, and the volumes are low.
But it's true, it would be interesting to have charts of BTCvsGold or BTCvsSilver, even they have to convert from MtGoxUSD to precious metals using some standard quoting available.

Another chart I think would be interesting to follow is the total value of all bitcoins in existence. This graph would take BTC inflation in consideration, showing that its rise in value is even more significant than what it looks only by the unit value.

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February 23, 2011, 12:23:27 PM
 #11

Is anyone using trade bots on mtgox?

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Binford 6100
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February 23, 2011, 02:30:01 PM
 #12

Why do you use dollar and not gold to basis the BTC?

beside what caveden wrote (only 1 online exchange known)
the ask/bid gap when trading btc for gold is too big for practical application

bitcoin central is occasionaly also "wide open" but it's a good practice place for rookies like i am

and there is no bitcoin : )

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February 23, 2011, 03:52:43 PM
 #13

Can we really call it a crash?

Use my Trade Hill referral code: TH-R11519

Check out bitcoinity.org and Ripple.

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kiba
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February 23, 2011, 04:13:54 PM
 #14

Price seem to be actually going back up?

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February 23, 2011, 04:27:01 PM
 #15

Still an order of magnitude higher than 8 months ago.  The year-over-year percentage increase probably measures well over 2000%.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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February 23, 2011, 05:50:58 PM
 #16

Still an order of magnitude higher than 8 months ago.  The year-over-year percentage increase probably measures well over 2000%.

That's very easy to achieve when you're a really small fish.

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February 23, 2011, 06:30:09 PM
 #17

http://bitcointalk.org/index.php?topic=3712.msg53595#msg53595

If mtgox is correct, the drop could have just been one guy selling off stolen bitcoins.

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