It's about to get ugly on mtgox

[accord01]

The trigger point for the newest flash crash, a 1000 wall eaten, and 1500 coins dumped, and the continuation of the downward trend

[GriTBitS]

The trigger point for the newest flash crash, a 1000 wall eaten, and 1500 coins dumped, and the continuation of the downward trend

agree!

[theecoinomist]

Oh shiiiiiet, it crashed $40 upwards :s

[TERA]

That drop woke me up out of my sleep. No not with an alert but I just felt it in my dream, rolled out bed, checked and there it was. I think I'm getting an ESP connection to these markets or something.

[Edward50]

I am thinking that there is a good chance it will not crash.

Simply people who own bitcoins are just not selling and are just waiting for the price to go higher at this point. This is why volume is so low.

The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher.

I don't see anything changing, maybe a very slow decline to lower numbers but I doubt we will see a crash. I don't see any really bad news worse than china being out of the game.

[fr33d0miz3r]

And again: too many people who think that there are too many buyers wishful thinking on get bitcoins below 400

[_wayfarer_]

And then there's the "wait till it gets to $10 to buy" folks...

[fr33d0miz3r]

And then there's the "wait till it gets to $10 to buy" folks...

I'll wait for 2016

[Edward50]

And again: too many people who think that there are too many buyers wishful thinking on get bitcoins below 400

I don't really get this? So are there too many buyers?

Are you saying that there are many buyers or there are not and that is wishful thinking but since everybody thinks there are too many buyers nobody is selling? Or maybe everybody is buying?

[fr33d0miz3r]

Are you saying that there are many buyers or there are not and that is wishful thinking but since everybody thinks there are too many buyers nobody is selling? Or maybe everybody is buying?

Everybody is trolling, that's what I mean 

[MatTheCat]

That drop woke me up out of my sleep. No not with an alert but I just felt it in my dream, rolled out bed, checked and there it was. I think I'm getting an ESP connection to these markets or something.

Has happened to me a few times.....

I sold at $370 back in November thinking I done great, woke up with a dream that BTC had hit $600 on Gox, bolted through to the PC, saw that BTC was still just around $400, but recognised the subconscious signal that I had to get properly into this marker. It took 11 bloody days from that point to get set up on Bitstamp (I stupidly refused to pay the 20% premiums that were standard on LocalBitcoins at the time so missed out on about 100% of upside.

After the bounce from previous $540 crash, I woke up and automatically made for my PC, telling myself that 'it has peaked, sell now, it won't stay there long'. BTC was at $920. As I came to my senses I thought to myself, "WTF am I playing at, turn this shit off now"....I ended up selling 80% of what I had later on that day at $880. BTC never been so high since.

and there are numerous other examples I could bore everyone to death with.

Infact, if I were to trade on my dreams I would generally be doing much better than when I sit and scrutinise news events or attempt amateur chart analysis.

The human brain is a massively complex thing although most of the processes it completes are done unconsciously or subconsciously. So unfortunately, our conscious mind is not able to harness the bazillion calculations per second processing power of the entirety of our minds, leaving us stuck with being able to consider between 7-12 factors at once when we think mentally, or perhaps up to 30 when we are doing an intensive desk study, writing everything down and compiling data.

So whilst we can't rely on our subconscious mind to deliver the goods on practical problems that are mainly of interest to our conscious minds, when we are thrown a scrap of information through a dream, or an intuitive ping, we would do well to heed the message, providing we are capable of interpreting that message and not bending it to fit any paradigm that our conscious minds are subscribing to. And on this note, I will state once again that I believe that BTC is going to tank. Although I have since attempted to rationalise this belief with facts, charts, and data, the initial 'tip off' was of the 'subconscious' variety.

My next buy-ins are between $100 - $230, Bitstamp prices.

If these come good, will this be the absolute bottom? I wouldn't fkn bet on it!

[kireinaha]

And again: too many people who think that there are too many buyers wishful thinking on get bitcoins below 400

Say wha...?

[BittBurger]

The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher.

This is going to be the problem, going into the future.  

And switching to mBTC doesn't help fix this.  

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

At least that's how I understand it.

[proudhon]

The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher.

This is going to be the problem, going into the future.  

And switching to mBTC doesn't help fix this.  

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

At least that's how I understand it.

Wait, I wasn't aware that the point of switching to mBTC was to pump the price...

[MAbtc]

The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher.

This is going to be the problem, going into the future.  

And switching to mBTC doesn't help fix this.  

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

At least that's how I understand it.

Wait, I wasn't aware that the point of switching to mBTC was to pump the price...

Shhhhhh

[Lloydie]

The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher.

This is going to be the problem, going into the future.  

And switching to mBTC doesn't help fix this.  

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

At least that's how I understand it.

1000 mbtc = 1 Btc

1000 x 1000 mbtc = 1000 Btc

[jamesc760]

The demand is not there for expensive bitcoins, this is probably the reason why the price is not going higher.

This is going to be the problem, going into the future.  

And switching to mBTC doesn't help fix this.  

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

At least that's how I understand it.

1000 mbtc = 1 Btc

1000 x 1000 mbtc = 1000 Btc

And your point is???

[exocytosis]

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

The average person is willing to pay a lot more for 100 mBTC than for 0.1 BTC, even though they're the same thing. It's basic human psychology. Therefore, shifting to mBTC (or similar denominations) would drive up the price.

[outofservice]

Because people can buy thousands of mBTC without pushing the price up on a "whole" BTC at all.

The average person is willing to pay a lot more for 100 mBTC than for 0.1 BTC, even though they're the same thing. It's basic human psychology. Therefore, shifting to mBTC (or similar denominations) would drive up the price.

+1  human psychology

[Mirsad]

Also know as pump the price with psychological tricks... wait.. pump ? mmmh.. pump to dump? yeah, we need higher prices to sell MOOOOAR!