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plogank (OP)
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August 27, 2011, 03:03:40 AM |
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Being new to trading, to what can we attribute the recent downturn? The Bitcoin got down as low as $7.64 US today and now is up to $8.49. All of this on MtGox Live.
Call me perplexed. LOL
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If you like this post a donation would be nice.... 1PhCzA9o1jcwHr7PR4mxea8nJYUJWpKAGb
Besides, It'll drive me crazy trying to figure where it came from.
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gw4tt
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August 27, 2011, 03:42:02 AM |
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it's kind of normal for bitcoin. It moves around a lot.
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1905
Full Member
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Activity: 198
Merit: 100
Give him a mask and he will tell you the truth.
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August 27, 2011, 04:10:24 AM |
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any idea when its gonna hit 15$ again? waiting for payout....
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Man is least himself when he talks in his own person. Give him a mask and he will tell you the truth.
- Oscar Wilde
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dub0matic
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August 27, 2011, 04:23:35 AM |
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any idea when its gonna hit 15$ again? waiting for payout....
high doubtfully but you can always come back in 6months |
make it rain haha
btc 176MrZ3CCXGb1GqFiGaoqQpaynzYqZsW6n
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plogank (OP)
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August 27, 2011, 04:25:26 AM |
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it's kind of normal for bitcoin. It moves around a lot.
I heard it said that Bitcoins move around because there's not a lot being traded so just a few trades moves the market quite a bit. Is this your thought too? |
If you like this post a donation would be nice.... 1PhCzA9o1jcwHr7PR4mxea8nJYUJWpKAGb
Besides, It'll drive me crazy trying to figure where it came from.
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1905
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Activity: 198
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Give him a mask and he will tell you the truth.
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August 27, 2011, 04:38:32 AM |
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6 mo wtf it was jus at 15 3 weeks ago.
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Man is least himself when he talks in his own person. Give him a mask and he will tell you the truth.
- Oscar Wilde
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1905
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Give him a mask and he will tell you the truth.
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August 27, 2011, 04:45:26 AM |
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lol fine. ill wait 6 mo. im not sellin my 5 btc that took me forever to get for 8 bucks a pop. id rather keep them on my usb in my drawer and look at it once a month....  |
Man is least himself when he talks in his own person. Give him a mask and he will tell you the truth.
- Oscar Wilde
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indio007
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August 27, 2011, 04:58:23 AM |
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The market moved down because someone sold like 21,000 @ 6:45 PM  |
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1905
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Give him a mask and he will tell you the truth.
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August 27, 2011, 05:06:42 AM |
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if i had 21000 btc id be in vegas til christmas
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Man is least himself when he talks in his own person. Give him a mask and he will tell you the truth.
- Oscar Wilde
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BCCAP - Paul
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August 27, 2011, 05:18:43 AM |
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In one man's humble estimation it is due to the fact there is such LOW volume and that why the spreads widen, but the volitility creates a real opportunity.
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klaus
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August 27, 2011, 05:35:20 AM |
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@plogank
welcome to the free market total. trading 24/7 - every day, not like wall street from 9 to 5. no break of trading because of high volativity (- 50% crash or/and + 50% rally per day)
once again, free market total !
its that easy as AndrewBitcoiner says:
-> More sellers then buyers moves the price down. More buyers then sellers moves the price up.
the really stupidness / schizophrenia is that more volativity the more hurts the bitcoin itself as a stable currency/token/good. how can a merchant/store owner accept 100 bitcoins when he doesn't know what they a worth tomorrow?
if someone buys/invensts a lot of thousand us$ because of greed at mtgox in bitcoin in an agressive style (buy on whatever price) it moves very strong up, so with his investment he hurts the thing he invest in very much. looool - thats crazy. but we can not change. somebody says, 'we created a monster we can not control' - i like this sentence every day more....
i love bitcoins really really really - but - the more speculation on mtgox (up or down), the less legitimacy for bitcoin as what a bitcoin originally wants to be.
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bitmessage:BM-2D9c1oAbkVo96zDhTZ2jV6RXzQ9VG3A6f1
threema:HXUAMT96
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1905
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Give him a mask and he will tell you the truth.
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August 27, 2011, 05:46:34 AM |
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once we finally hit 21million and miners arent cashing out it should be more stable yes?
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Man is least himself when he talks in his own person. Give him a mask and he will tell you the truth.
- Oscar Wilde
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ccbiker
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August 27, 2011, 06:36:15 AM |
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The volatility is part of the fun  And it'd be hard not to sell thousands of bitcoins if I had them... |
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Gabi
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If you want to walk on water, get out of the boat
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August 27, 2011, 03:14:16 PM |
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once we finally hit 21million and miners arent cashing out it should be more stable yes?
Do you realize that if miners stop cashing out that means they gain 0 and thus they stop mining? Even at 21 million, miners will profit from fees. Remember, no miners=no safety |
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fently
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Bleh!
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August 27, 2011, 05:48:07 PM |
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Downturns are good:
1) If the entire market crashes, then crashing sooner is better than later. I think it's highly unlikely to ever completely crash, because there are enough stubborn miners who will refuse to sell off at low prices and because the currency is super effective for making low cost irreversible transactions (that's intrinsic value there, by the way)
2) If the market doesn't crash, then it just sheds the weaker hands -- those miners who weren't mining efficiently to begin with or who can't afford the risk. Again, this is a good thing. Miners on the edge of financial breakdown should get out. If they aren't profitable now, they won't become more profitable without changing what they do. It's really doing them a favor.
3) More efficient miners protect the network more per GH because the dollar exchange value per GH is lower, even though the cost of attaining the required hashrate has not changed (well, it changes over time, in a predictable rate tied to Moore's law, but at any given moment in time, when the BTC rate drops, the cost of hashrate does not drop with it)
4) My favorite: When enough people stop mining, difficulty drops!
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Puzzles
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August 27, 2011, 11:33:03 PM |
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I only see this as an opportunity to BUY MORE BITCOINS! |
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FXTrader
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August 28, 2011, 01:52:50 AM |
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"Successful speculation begins with objective observation".
The trend of bitcoin is downward. If you are new to trading and want trading advice, put a 21 period simple moving average on a bitcoin chart and when price is above the average, say that bitcoin is going up and when price is below average, say that bitcoin is going down.
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BitcoinStars.com
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August 28, 2011, 01:59:34 AM |
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"Successful speculation begins with objective observation".
The trend of bitcoin is downward. If you are new to trading and want trading advice, put a 21 period simple moving average on a bitcoin chart and when price is above the average, say that bitcoin is going up and when price is below average, say that bitcoin is going down.
Sound advice  |
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