well that just sucked. someone sold 20K at once

[fcmatt]

Dropped the price nicely.

bitcoinica users probably just crapped their pants. it is movement like that which will cause a
liquidation of their orders.

[1714022861]

1714022861

[1714022861]

1714022861

[1714022861]

1714022861

[1714022861]

1714022861

[wobber]

why is that?

[adamstgBit]

Dropped the price nicely.

bitcoinica users probably just crapped their pants. it is movement like that which will cause a
liquidation of their orders.

well this if they were betting it was going to go back up.

with bitcoinica people can make money weather bitcoin goes up or down, Right??

[Isepick]

I wonder if it wasn't a Bitcoinica user that was short a lot of bitcoins...

[fcmatt]

Dropped the price nicely.

bitcoinica users probably just crapped their pants. it is movement like that which will cause a
liquidation of their orders.

well this if they were betting it was going to go back up.

with bitcoinica people can make money weather bitcoin goes up or down, Right??

You are right. I should have said people who went long instead of shorting btc.
So lets say some Bitcoinica users probably just crapped their pants depending on where they bought at.

[coined]

I don't mind seeing 4 tested again sooner rather than later, it's the day's of stagnation that get on my nerves  

I would have preferred steady selling into 4's though( to really test it), this will just rattle the market.

[Piper67]

Even thinking of going long or short in a market that can be manipulated by around 30,000 USD is a pretty dumb idea.

[fcmatt]

That didn't suck, that was awesome!  Wish I had orders at that rate!

I bought some BTC at 5.10-5.20ish last night i was sitting on and knew I should have sold them
when the price failed to break above 5.30. But since it was a small amount of money I decided to
let it ride.

I should have sold and had a nice opportunity to buy in at 4.50ish if I desired. For others I guess
it did not suck ;-)


But once again this really does show how some people out there do not give a **** when it comes
to selling or buying. They just dump/buy all at once and can nail the market in a significant percentage
way.

[JBDive]

That didn't suck, that was awesome!  Wish I had orders at that rate!

Time will tell but I had a buy order in at 4.55 so I may have just caught bottom on that drop. Now let's run back to 6 please.

[tvbcof]

...
So lets say some Bitcoinica users probably just crapped their pants depending on where they bought at.

The under capitalized ones at least.  Hopefully some of these (if there are any) will man up and post so we not-yet-bitcoinica guys can get some lulz.

[Isepick]

Someone trying to get in ahead of the 'weekend dip'? If this sets the tone for this weekend, its gonna be a hell of a ride.

[johnj]

Was it a sell?  Or was it just orders being cancelled?

[Piper67]

Was it a sell?  Or was it just orders being cancelled?

It was definitely a sell.

[bitcoinTrader]

My orders were filled.
Felt real good

Thu 15 Sep 2011 07:02:08 PM GMT   Spent   BTC bought: [tid:1316113328007028] 4.97753560 BTC at $4.80000   
Thu 15 Sep 2011 07:02:07 PM GMT   Spent   BTC bought: [tid:1316113327983450] 0.02246440 BTC at $4.79900   
Thu 15 Sep 2011 06:47:55 PM GMT   Spent   BTC bought: [tid:1316112475375471] 5.00000000 BTC at $4.51235   
Thu 15 Sep 2011 06:47:46 PM GMT   Spent   BTC bought: [tid:1316112466871540] 8.00000000 BTC at $4.71235   
Thu 15 Sep 2011 06:47:46 PM GMT   Spent   BTC bought: [tid:1316112466783138] 20.00000000 BTC at $4.73211   
Thu 15 Sep 2011 06:47:46 PM GMT   Spent   BTC bought: [tid:1316112466432796] 150.00000000 BTC at $4.76231

150 BTC order I placed just today.. didnt expect it to be filled so fast

[ElectricMucus]

Apparently I bought some.
Should bounce pretty quick now. lalala  

[Jixtreme]

Yeah, that blew through my outstanding buys at $5........

Fingers are crossed for a rally!

[fcmatt]

I find it interesting how the sell wall just moves right on down. Why those "sellers" did not want out above
5.10... all of a sudden think 4.90 is a great price to sell at is beyond me. Just bots i suppose?

[Minsc]

It's panic selling, matt.

[fcmatt]

It's panic selling, matt.

panic selling is when you let it go at any price. Not tease buyers by putting it right above the
current bid by a nickel or dime.

[Jixtreme]

It's panic selling, matt.

No it's not, bear-troll.

[fcmatt]

Well another couple thousand of BTC being bought should put us safely over 5 again and I can
unwind these stupid positions not making me any money ;-)

[fastandfurious]

30 000 more bitcoins on the bid side down to 4 dollars, under that it looks very very empty. Are we there this weekend?

[zby]

It's panic selling, matt.

No it's not, bear-troll.

Panic selling would mean end to the bear market - if this is not yet panic - then we'll need to wait some more for the trend reversal.

[Jixtreme]

No it's not, bear-troll.

Panic selling would mean end to the bear market - if this is not yet panic - then we'll need to wait some more for the trend reversal.

Well, I should probably clarify that he's a fake bear. A bull in disguise. Wants the price to drop so he can buy cheap coins.

Most of the bear-trolls on these forums are the same.

I want to buy cheap coins, sure, but I can do without the psychological games. Let's just get to the next rally already...

[zby]

No it's not, bear-troll.

Panic selling would mean end to the bear market - if this is not yet panic - then we'll need to wait some more for the trend reversal.

Well, I should probably clarify that he's a fake bear. A bull in disguise. Wants the price to drop so he can buy cheap coins.

Most of the bear-trolls on these forums are the same.

I want to buy cheap coins, sure, but I can do without the psychological games. Let's just get to the next rally already...

You lost me here.  So do you think this was a 'panic selling' and the bear market is now over or not?  If you don't think that it was 'panic selling' (and it looks like that - because you used the world troll to describe someone who suggested this) - then do you think that the trend is going down?  Or maybe your theory is that 'panic selling' means that the down trend is going to be continued?  But if you believe this - then how do you think it will be reversed?  Just a long stagnation and suddenly it goes up?  To be honest I don't have my own theory - the hypothesis that the trend reversal needs a 'panic selling' is just something I've read in the forum here   But it sounds plausible.

[evolve]

wonder how many at bitcoinica users got margin calls off of that spike? leverage is dangerous...

[Jixtreme]

You lost me here.  So do you think this was a 'panic selling' and the bear market is now over or not?  If you don't think that it was 'panic selling' (and it looks like that - because you used the world troll to describe someone who suggested this) - then do you think that the trend is going down?  Or maybe your theory is that 'panic selling' means that the down trend is going to be continued?  But if you believe this - then how do you think it will be reversed?  Just a long stagnation and suddenly it goes up?  To be honest I don't have my own theory - the hypothesis that the trend reversal needs a 'panic selling' is just something I've read in the forum here   But it sounds plausible.

It was not panic selling. Since it happened instantaneously, it was clearly one individual's sale of 20k coins. This individual likely thinks the market has further to fall and wants to buy in lower. That does not imply "panic." Inflammatory words like that are only used to hype fear and convince more bitcoiners to sell so that late-comer-bear-troll can buy low.

[johnj]

Looks like Moonco.in was a scam, allegedly faked an ICE seizure and has taken the coins.

I wonder if that's where the selloff came from.

[ElectricMucus]

It could also has been bitcoina. All it takes is someone with good funding stepping into their trap 

inb4 leverage can benefit you... go ahead and do it then... my orders are waiting 

[kjj]

Looks like Moonco.in was a scam, allegedly faked an ICE seizure and has taken the coins.

I wonder if that's where the selloff came from.

If they faked the ICE seizure, they did a hell of a great job copying ICE's SSL certificate and private key.

[Cluster2k]

Looks like Moonco.in was a scam, allegedly faked an ICE seizure and has taken the coins.

I wonder if that's where the selloff came from.

Another bitcoin scam?  I'd like to say I'm shocked, but I'm not.  It's rather difficult to go to the police (of a foreign country) and claim your bitcoins are missing.  Fraudsters are taking advantage of this and have come out to play.

[johnj]

Looks like Moonco.in was a scam, allegedly faked an ICE seizure and has taken the coins.

I wonder if that's where the selloff came from.

If they faked the ICE seizure, they did a hell of a great job copying ICE's SSL certificate and private key.

I dunno.  The whois is not ICEd, nor is there the typical ICE Seizure Citation.

But yeah, seeing the other guy match up the hashes and what not made me think it was legit... but the rest doesn't add up.

[grod]

No it's not, bear-troll.

Panic selling would mean end to the bear market - if this is not yet panic - then we'll need to wait some more for the trend reversal.

Well, I should probably clarify that he's a fake bear. A bull in disguise. Wants the price to drop so he can buy cheap coins.

Most of the bear-trolls on these forums are the same.

I want to buy cheap coins, sure, but I can do without the psychological games. Let's just get to the next rally already...

That's exactly why I keep swatting down the permabulls.  I want to get through the denial phase and into capitulation already so we can build a base and get into rally mode.   With a 5 to 1 margin requirement to short on a brand new exchange there's no practical way of taking advantage of a bear market, I want a raging bull one again!

Last month I'd have said $4s would be that point.  But with 90% of the community still bullish on bitcoin (estimated from deepbit hashing power) there's no "all is lost" feeling at all, and we're still in the "I'll hold forever if I have to, I'm in this for the long term" part of the denial phase.

TL;DR -- I'll get my cheap bitcoins if I still want them, but I really wish for that point to be sooner rather than much, much later.

[old_engineer]

I find it interesting how the sell wall just moves right on down. Why those "sellers" did not want out above
5.10... all of a sudden think 4.90 is a great price to sell at is beyond me. Just bots i suppose?

Speaking as one of these sellers, it's because my orders were filled at a lower price, and I put up sell orders at purchase price + $0.30, hence the insta-sell wall that forms after a big drop.  HTH.

[Cluster2k]

I find it interesting how the sell wall just moves right on down. Why those "sellers" did not want out above
5.10... all of a sudden think 4.90 is a great price to sell at is beyond me. Just bots i suppose?

Speaking as one of these sellers, it's because my orders were filled at a lower price, and I put up sell orders at purchase price + $0.30, hence the insta-sell wall that forms after a big drop.  HTH.

Looks like I'm not the only one that does this   

It does raise the question of just how much new money is flowing into MtGox to buy bitcoins, and how much is recycled into future buys and sells.  In the long term that's a negative return game for the market.

[Raoul Duke]

If they faked the ICE seizure, they did a hell of a great job copying ICE's SSL certificate and private key.

So, you are saying that ICE uses a comcast IP? Think again... That's not how they work, when they seize a domain, they point the DNS to one of their servers that shows the jpg with the notice they don't continue to send it to the original IP nor do they even have SSL connection working for seized domains.

Try it with the following list of seized domains and tell me where can you see ICE SSL cert or a Comcast IP address...

Code:

2009Jersey.com
handbagspop.com
handbagcom.com
getdvdset.com
skyergolf.com
golfwholesale18.com
tieonsale.com
boxset4less.com
dvdprostore.com
boxsetseries.com
dvdsetsonline.com
dvdorderonline.com
cartoon77.com
dvdscollection.com
dvdcollects.com
mygolfwholesale.com
oebags.com
tbl-sports.com
51607.com
stuff-trade.com
dvdsuperdeal.com
topabuy.com
mydreamwatches.com
newstylerolex.com
ipodnanouk.com
louis-vuitton-outlet-store.com
bishoe.com
merrytimberland.com
onsmash.com
torrent-finder.com
massnike.com
timberlandlike.com
rmx4u.com
usaburberryscarf.com
realtimberland.com
nibdvd.com
throwbackguy.com
overbestmall.com
icqshoes.com
jersey-china.com
amoyhy.com
coachoutletfactory.com
gofactoryoutlet.com
2009jerseys.com
burberryoutletshop.com
scarfviponsale.com
rapgodfathers.com
mycollects.com
dvdsetcollection.com
dvdcollectionsale.com
sohob2b.com
sohob2c.com
scarfonlineshop.com
shawls-store.com
usaoutlets.net
silkscarf-shop.com
sunogolf.com
discountscarvesonsale.com
silkscarfonsale.com
jordansbox.com
eluxury-outlet.com
borntrade.com
storeofeast.com
boxedtvseries.com
odvdo.com
dajaz1.com
b2corder.com
sunglasses-mall.com
lv-outlets.com
lv-outlets.net
lv-outletstore.com
golfstaring.com
lifetimereplicas.com
handbag9.com
nfljerseysupply.com
jerseyclubhouse.com
borntrade.net
cheapscarfshop.com
500i.net
louisvuittonoutletstore4u.com
louisvuittonoutletstores2u.com
thelouisvuittonoutlet.com
suprbay.us