chessnut
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Activity: 924
Merit: 1001
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February 10, 2014, 11:43:02 AM |
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Bitstamp down to 530, then up to 630 again (in like 10 seconds), now 645
Guess i will panic buy a bit more bitcoins i want to have. What about you? Was this the crash
the support after the crash to 102 was incredible. very volatile, but I wouldnt be surprised of this reaction to 630 if the evening had played out as I expected it. I think in the next days we should expect it to explore 400-500. but right now.....holy moly. I have'nt a clue. |
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kehtolo
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February 10, 2014, 11:50:39 AM |
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Bitstamp down to 530, then up to 630 again (in like 10 seconds), now 645
Guess i will panic buy a bit more bitcoins i want to have. What about you? Was this the crash
No just a panic induced knee jerk reaction based on Gox's news. The released a press statement, basically blaming the bitcoin protocl for their issues. A truer way of putting it would have been to say that there is a known bug in the software / protocol, and that their custom wallet can't handle this properly. They use their own custom wallet for storing bitoicns.. as you would expect from an exchange. It is this custom wallet tht cannot properly handle this bug. No reason to panic, but that's what folks are bound to do. It's not the real crash, since this was news based IMO. I still expect to see $400's |
The next 24 hours are critical!
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kehtolo
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February 10, 2014, 12:01:44 PM |
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Bitstamp down to 530, then up to 630 again (in like 10 seconds), now 645
Guess i will panic buy a bit more bitcoins i want to have. What about you? Was this the crash
the support after the crash to 102 was incredible. very volatile, but I wouldnt be surprised of this reaction to 630 if the evening had played out as I expected it. I think in the next days we should expect it to explore 400-500. but right now.....holy moly. I have'nt a clue. I think it only dipped to 102 for a second, not many people who had bids around there would of had them even filled. It happened because someone dumped 8000+ coins! |
The next 24 hours are critical!
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magicmexican
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February 10, 2014, 12:03:16 PM |
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ye it was barely for a second, i personally thought it was bug @btcwisdom at first
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sgbett
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Activity: 2576
Merit: 1087
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February 10, 2014, 12:44:57 PM |
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I hesitate to resurrect the 'manipulator' meme but... That kind of sell, at a time when FUD is so high, reeks of an attempt to inject just a little more pessimism into a scared market. I take that as a good sign. Of course, I would though  |
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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rpietila (OP)
Donator
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Activity: 1722
Merit: 1036
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February 10, 2014, 12:52:13 PM |
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Bitstamp down to 530, then up to 630 again (in like 10 seconds), now 645
Guess i will panic buy a bit more bitcoins i want to have. What about you? Was this the crash
No just a panic induced knee jerk reaction based on Gox's news. The released a press statement, basically blaming the bitcoin protocl for their issues. A truer way of putting it would have been to say that there is a known bug in the software / protocol, and that their custom wallet can't handle this properly. They use their own custom wallet for storing bitoicns.. as you would expect from an exchange. It is this custom wallet tht cannot properly handle this bug. No reason to panic, but that's what folks are bound to do. It's not the real crash, since this was news based IMO. I still expect to see $400's I pretty much agree with this analysis, except that imo there is a >>0 chance that something (more) criminal (than we already know) is going on at Gox. This one was just a flashcrash, the -26% variety that is quite common if you study them. It ain't over until it's over. I got some bids filled at 588, which puts me solidly on the black. The large bids are waiting + I am prepared for the crackdown on all exchanges and have money in the bank, silver in my private vault, and gold, also for the event that you want out of BTC in the middle of (the coming) carnage, and want to do it quickly and efficiently. Because of Charles Shrem event, you will have to testify that you have never committed any crime, even victimless, ever, against any jurisdiction, lawful or not. Even then I may have to deny business with citizens or residents of the U.S. or any other country deemed high risk. (As we are incorporated in Estonia, Estonian laws apply. The above was just because the aforementioned countries have no regard for international law when disregarding them suits their puppetmasters' NWO agendas.) Today's cigar is the venerable Cohiba Behike 56. I lighted up the big one because I wanted to share with you some good news. Only then realized that there's action going on in the markets and decided that I want to postpone the good news until the audience has opportunity to listen. Meanwhile, let's see what the next bad piece of news is... |
HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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wachtwoord
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Activity: 2338
Merit: 1136
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February 10, 2014, 01:11:44 PM |
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Bitstamp down to 530, then up to 630 again (in like 10 seconds), now 645
Guess i will panic buy a bit more bitcoins i want to have. What about you? Was this the crash
the support after the crash to 102 was incredible. very volatile, but I wouldnt be surprised of this reaction to 630 if the evening had played out as I expected it. I think in the next days we should expect it to explore 400-500. but right now.....holy moly. I have'nt a clue. I think it only dipped to 102 for a second, not many people who had bids around there would of had them even filled. It happened because someone dumped 8000+ coins! WTF, 102? Did someone misclick? |
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seleme
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Activity: 2772
Merit: 1028
Duelbits.com
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February 10, 2014, 01:17:50 PM |
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Margin long went wrong. Just like in December when LTC went to cents. Someone might shoot himself today.
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BldSwtTrs
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Activity: 861
Merit: 1010
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February 10, 2014, 01:22:04 PM |
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Margin long went wrong. Just like in December when LTC went to cents. Someone might shoot himself today.
You mean that the seller at 102$ did so because of margin call? |
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wachtwoord
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Activity: 2338
Merit: 1136
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February 10, 2014, 01:35:53 PM |
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Margin long went wrong. Just like in December when LTC went to cents. Someone might shoot himself today.
You mean that the seller at 102$ did so because of margin call? That's why you should generally avoid leverage. |
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upupup
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February 10, 2014, 01:51:03 PM |
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Where are those $400 coins?? I am getting really tired of waiting.
they coming, can you smell them now!?  |
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chessnut
Legendary
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Activity: 924
Merit: 1001
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February 10, 2014, 02:03:40 PM |
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Where are those $400 coins?? I am getting really tired of waiting.
they coming, can you smell them now!? Im gonna lose a lot of good sleep waiting for $400 coins tonight...... |
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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February 10, 2014, 03:05:52 PM |
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I still owe you an apology, I don't know if this flash crash counts but I am a man of his word, I didn't see this coming so I do apologize for the last couple of months and I hope that Gox will die....I took a considerable loss because of them, not trading there didn't save me from their BS, I just hope that it wont be even worse...
at this moment I don't hold any bitcoins, not because I sold out but because I invested 80% in IPOs and startups and cashed the other 20%, but to be honest I don't have balls to buy back now, I just wish you all traders out there good luck.
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ErisDiscordia
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Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
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February 10, 2014, 03:29:55 PM |
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Rpietilas call for a revisiting of the trendline during February/March is looking more and more probable. Whatever you might think about his online persona, or his trading abilities, you have to give him credit for sticking with his call even though he was heavily ridiculed for it at first.
I wonder if the pattern of repeating previous price movements on a compressed time-scale with lower ups and downs will hold and we will see a slow grind into the 400 - 500$ area over the next month or so, before finally capitulating.
I'm really enjoying this bear market. I'm not day tarding, not even firing very much fiat at it. But whereas during the last bear market all I heard from my friends was "haha I told you so Bitcoin is useless", now I see them buying their first coins, because they find the current prices much more acceptable than the heights of december.
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It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
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chessnut
Legendary
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Activity: 924
Merit: 1001
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February 10, 2014, 03:37:01 PM |
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Rpietilas call for a revisiting of the trendline during February/March is looking more and more probable. Whatever you might think about his online persona, or his trading abilities, you have to give him credit for sticking with his call even though he was heavily ridiculed for it at first.
I wonder if the pattern of repeating previous price movements on a compressed time-scale with lower ups and downs will hold and we will see a slow grind into the 400 - 500$ area over the next month or so, before finally capitulating.
I'm really enjoying this bear market. I'm not day tarding, not even firing very much fiat at it. But whereas during the last bear market all I heard from my friends was "haha I told you so Bitcoin is useless", now I see them buying their first coins, because they find the current prices much more acceptable than the heights of december.
do you happen to be watching the charts now? what do you think about this bounce? pretty good? will it last? seems threatening. not sure I have the guts to hold shotr. |
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threecats
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February 10, 2014, 03:43:06 PM |
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i think this bounce is full of a pent up exuberence that may not be so very rooted in rationality ...
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kehtolo
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February 10, 2014, 03:44:51 PM |
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And back to 700 in the next 15-30 min.. that is a good recovery.
Seeing as it was BS / FUD that caused it.. it is a healthy sign. The market is looking healthier than i gave it credit for.
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The next 24 hours are critical!
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threecats
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February 10, 2014, 03:46:23 PM |
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be interesting to see what happens to the 860 wall at 689 on stamp
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kehtolo
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February 10, 2014, 03:57:19 PM |
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And back to 700 in the next 15-30 min.. that is a good recovery.
Seeing as it was BS / FUD that caused it.. it is a healthy sign. The market is looking healthier than i gave it credit for.
Okay.. maybe slightly longer, but still. That wall got partly bought, and then added to. Might be here for a little while. |
The next 24 hours are critical!
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magicmexican
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February 10, 2014, 05:33:50 PM |
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And back to 700 in the next 15-30 min.. that is a good recovery.
Seeing as it was BS / FUD that caused it.. it is a healthy sign. The market is looking healthier than i gave it credit for.
Okay.. maybe slightly longer, but still. That wall got partly bought, and then added to. Might be here for a little while. 688-700 is a 50% fibo level on stamp, there will be resistance there that wont be broken today/tomorrow, market needs to calm down and realize that gox was spreading fud to buy time, there is no "new bug" or anything close to double spending |
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