toknormal
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January 13, 2015, 11:25:51 PM |
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Absolutely excruciating (but, I guess this is all part of what we signed up for).
Some of the dumps are unbelievable. I can't help thinking there's more going on than just general capitulation. They seem calculated to draw up as much liquidity as they think they can get away with and then wham. That last one happened just as the 1-hour chart was going positive. Normally one would wait another half cycle which would have taken another 4-8 hours or so but the volatility doesn't give you that time in these intense trading periods. To me it looks like some big stash being dumped which lends credence to the idea that it's stolen coins or something that's being dumped. It's as if the "entity" either wants out at any cost or is attempting to destroy the market on purpose. (Of course it could just be plain old capitulation, but then why are all the slides triggered by a single massive dump as opposed to general continuous selling).
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jiggytom
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January 13, 2015, 11:28:18 PM |
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I know what I'm doing...buying more DRK.
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BTC: 174MGp3R5prNbuen31Kx5G5XuyuAXu9jye LBC: bWYN8NXGKWsgEAd6tQnJ5YRo2Z4r6PjxBH
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toknormal
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January 13, 2015, 11:36:53 PM |
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Andreas Antonopolis seems to think that this crash is going flush a few "fractional reserve" operations out of the woodwork.
He must be alluding to something like an exchange buying up Bitcoins with "fake dollars" which is probably a peice of cake to do if you're an exchange. Then people try to withdraw their dollars and they aren't there, nor can the exchange cover their dollar "shorts" because of the price crash.
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AzzAz
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January 13, 2015, 11:50:37 PM |
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I know what I'm doing...buying more DRK.
Shhsssss
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RenegadeMan
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January 13, 2015, 11:55:36 PM |
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Lots of gnashing of teeth and desperation over on the BTC-e foolbox. Here's a typical gem of wisdom: smedia2010: i recoomend you all to look at litecoin as the new bitcoin...
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BTC: 1KjAPEa3WvhmDGT4jmT9i5P3UPFdFH629e DASH: Xdr6U5qcAdbuKRrr3xKBb1ySoPq7MKERnB
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crimi
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January 14, 2015, 12:02:43 AM |
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I think a lot of bitcoin mining companys didnt convert always everything to cash. There are two bubbles(price & mining). Price did already pop now we are seeing the mining bubble burst. I would not wonder if they dump 1 million more coins the following days and close there mining operations.
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coins101
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January 14, 2015, 12:14:37 AM |
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is it just me or is coinwarz showing that all mining is now loss making?
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RenegadeMan
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January 14, 2015, 12:16:11 AM |
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Lots of gnashing of teeth and desperation over on the BTC-e foolbox. Here's a typical gem of wisdom: smedia2010: i recoomend you all to look at litecoin as the new bitcoin...
Ah the gems of wisdom just keep coming. I need to write these down and stick them on the fridge! pecivalec: Stratejist76, ltc can't fall any lower. its cheapest you can get
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BTC: 1KjAPEa3WvhmDGT4jmT9i5P3UPFdFH629e DASH: Xdr6U5qcAdbuKRrr3xKBb1ySoPq7MKERnB
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toknormal
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January 14, 2015, 12:17:57 AM |
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It's quite fascinating watching the trading. Things are actually a lot more bullish than the valuation is doing justice to. There are major scare tactics going on but in between there's quite a frenzy of buying. I would not be confident about selling into this anymore. For example, I just watched a 687 BTC shot get placed in the asks about 15 orders away from the lowest order. (i.e. a sellwall). It took about ten seconds for all the orders below it to get eaten and within another 5 seconds about 25 BTC of the sellwall had been chewed at which point the wall was reduced and then ran off completely, sh*tting its pants. Also, the dumps seem to come as a single huge trade or maybe a 2 to 3 max. Then it's followed by lots of smaller trades as it climbs back up. Thats another thing that makes me think nobody's dumping except a single entity plus a few others that that it frightens along with it. UPDATE: Look - trading has gone quiet again once it stabilised back up at 217.4. Thats almost exactly the price it was went to when the last dump was initiated. It went *straight* from 230 to about 219 in a single trade, then went to 211 and climbed back up in lots of smaller trades to settle again. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fw97f8Qy.png&t=665&c=GvTgxRSr0G0HBA)
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coins101
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January 14, 2015, 12:23:07 AM |
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thelonecrouton
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January 14, 2015, 12:37:02 AM |
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War on Maths!I actually don't think Cameron is evil. He's just really fucking stupid.
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toknormal
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January 14, 2015, 12:43:59 AM |
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I actually don't think Cameron is evil. He's just really fucking stupid.
I know. You have to wonder who's advising him. So the home secretary signs an order to "spy" on encrypted communications. How will that help them ? Does he know what "encrypted" means or is he just planning to ban SSL from the internet in the "UK" ?
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Ignition75
Sr. Member
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www.dashpay.io
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January 14, 2015, 12:49:17 AM |
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It's quite fascinating watching the trading. Things are actually a lot more bullish than the valuation is doing justice to. There are major scare tactics going on but in between there's quite a frenzy of buying. I would not be confident about selling into this anymore. For example, I just watched a 687 BTC shot get placed in the asks about 15 orders away from the lowest order. (i.e. a sellwall). It took about ten seconds for all the orders below it to get eaten and within another 5 seconds about 25 BTC of the sellwall had been chewed at which point the wall was reduced and then ran off completely, sh*tting its pants. Also, the dumps seem to come as a single huge trade or maybe a 2 to 3 max. Then it's followed by lots of smaller trades as it climbs back up. Thats another thing that makes me think nobody's dumping except a single entity plus a few others that that it frightens along with it. UPDATE: Look - trading has gone quiet again once it stabilised back up at 217.4. Thats almost exactly the price it was went to when the last dump was initiated. It went *straight* from 230 to about 219 in a single trade, then went to 211 and climbed back up in lots of smaller trades to settle again. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fw97f8Qy.png&t=665&c=GvTgxRSr0G0HBA) Lots of momentum for BTC last year, most likely the banks spending more $$$ trying to kill it off. If I were the banks, I'd be hitting the big red button right now spending whatever it took to depress the price...
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The new generation have arrived and they brought their own currency...
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coins101
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January 14, 2015, 12:51:46 AM |
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Unacceptable
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January 14, 2015, 12:57:16 AM |
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Wow!! Thank you very much!!! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole." -Raylan Givens Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Ignition75
Sr. Member
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www.dashpay.io
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January 14, 2015, 01:01:01 AM |
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Wow!! Thank you very much!!! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Fckn LOL at your Avatar, so true...
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The new generation have arrived and they brought their own currency...
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Unacceptable
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January 14, 2015, 01:08:58 AM |
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Wow!! Thank you very much!!! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Fckn LOL at your Avatar, so true... Thanks!! I thought it fitting for most online aurguments ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Sooo,my ATI cards are not so good for X11 ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) I'm from WAY back in 2011 & 12 when BTC mining was only GPU.Guess I gotta sell the ATI's & get Nvidia's ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) Looks like 25000 khs = 1 drk a day.Sound about right ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Is there a hardware wiki for Nvidia cards ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole." -Raylan Givens Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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jiggytom
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January 14, 2015, 01:10:36 AM |
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Maybe it's just about fucking time we let this seller out for good... Once and for all. With him (them?) out, BTC will shoot right back up... Because the whole reason it had been going down was an elaborate plan to cash out. Good riddance!
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BTC: 174MGp3R5prNbuen31Kx5G5XuyuAXu9jye LBC: bWYN8NXGKWsgEAd6tQnJ5YRo2Z4r6PjxBH
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