The Saddest Day

[pungopete468]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

[podyx]

http://www.youtube.com/watch?v=zbJXXer8JAg

[seriouscoin]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

[traderCJ]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

[seriouscoin]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

Couldnt agree more.

Without proper regulatory for exchanges, we're not gonna see any real investors. Those "whales" on the exchanges are either 1) very early adopters gambling or 2) manipulators( exchanges themselves)

[hostmaster]

i see fiverr started accepted bitcoin few days ago and believe me it's ten times better news than accepted by 10000 usual shops. Watch whats happening....sooner than 2 months. Thier daily trade volume is more than 10.000 daily.

[cbeast]

Even if whales wanted to buy in, there are not enough exchanges to handle any volume.

[allohm]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

Couldnt agree more.

Without proper regulatory for exchanges, we're not gonna see any real investors. Those "whales" on the exchanges are either 1) very early adopters gambling or 2) manipulators( exchanges themselves)

+1. After following BTC for almost 2 years (but have never written here before) i feel sad to observe that although this marvelous product of human intellect has been developing and increased its reputation it comes across basic human disadvantages like greed and FUD spread, which is almost impossible to beat. The more idealists of the community should understand that the "rosy" days are probably over. A lot of things need to happen first if the BTC is to have any real meaning in the real world (i mean on a mass scale). And one of the prime is to shed more light into all these shady businesses the so called "exchanges". By definition an exchange is used to exchange one thing for another. Their current behavior (not ignoring their past one) creates artificial lack of either fiat or BTC distorting completely the "market" ( or this ultra fully manipulated thing that is called the market - combine it with all bad news coming out all of a sudden)  

[piramida]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

Couldnt agree more.

Without proper regulatory for exchanges, we're not gonna see any real investors. Those "whales" on the exchanges are either 1) very early adopters gambling or 2) manipulators( exchanges themselves)

What the hell? Why do you need regulation? How would having government crooks overseeing the business crooks remedy anything? Seen WallStreet much? We need distributed exchanges and they will be here soon, not regulation.

[maxxoccupancy]

IF WE HAD THAT AUTO-ESCROW/ AUTO-TRADE FEATURE BUILT IN TO THE WALLETS AND THE PROTOCOL, THERE WOULD BE NO NEED FOR EXCHANGES.  ONLY A SIMPLE PUBLIC LEDGER WOULD SUFFICE, IF THAT.  I THINK THAT THE FLEA MARKET APPROACH TO BUYING, SELLING, AND TRADING BITCOINS, ALTCOINS, PRECIOUS METALS, CURRENCIES, AND IT ASSETS IS THE BETTER MODEL TO GO WITH.  FLEA MARKETS ARE IMPOSSIBLE TO REGULATE IN THE REAL WORLD, AND THEY CAN PICK UP AND MOVE ALMOST ANYWHERE AT THE DROP OF A HAT.

FOR AUTO-TRADE, JUST CHECK THE "Auto-Trade" BOX, SELECT FROM A DROP-DOWN MENU, THEN ENTER THE NUMBER OF BITCOINS THAT YOU'RE WILLING TO SPEND FROM A WALLET, SELECT THE ALTCOIN THAT YOU WANT TO BUY, AND THE MINIMUM EXCHANGE RATE.  WHEN A SIMILAR TRADER SOMEWHERE ELSE WANTS BITCOIN FOR THEIR ALTCOIN, THE TRADE HAPPENS ATOMICALLY AS TWO TRANSACTIONS, BOTH CONFIRMING OR "UNLOCKING" WHEN THEY'VE BEEN CONFIRMED BY THE NETWORKS.

[seriouscoin]

IF WE HAD THAT AUTO-ESCROW/ AUTO-TRADE FEATURE BUILT IN TO THE WALLETS AND THE PROTOCOL, THERE WOULD BE NO NEED FOR EXCHANGES.  ONLY A SIMPLE PUBLIC LEDGER WOULD SUFFICE, IF THAT.  I THINK THAT THE FLEA MARKET APPROACH TO BUYING, SELLING, AND TRADING BITCOINS, ALTCOINS, PRECIOUS METALS, CURRENCIES, AND IT ASSETS IS THE BETTER MODEL TO GO WITH.  FLEA MARKETS ARE IMPOSSIBLE TO REGULATE IN THE REAL WORLD, AND THEY CAN PICK UP AND MOVE ALMOST ANYWHERE AT THE DROP OF A HAT.

FOR AUTO-TRADE, JUST CHECK THE "Auto-Trade" BOX, SELECT FROM A DROP-DOWN MENU, THEN ENTER THE NUMBER OF BITCOINS THAT YOU'RE WILLING TO SPEND FROM A WALLET, SELECT THE ALTCOIN THAT YOU WANT TO BUY, AND THE MINIMUM EXCHANGE RATE.  WHEN A SIMILAR TRADER SOMEWHERE ELSE WANTS BITCOIN FOR THEIR ALTCOIN, THE TRADE HAPPENS ATOMICALLY AS TWO TRANSACTIONS, BOTH CONFIRMING OR "UNLOCKING" WHEN THEY'VE BEEN CONFIRMED BY THE NETWORKS.

Your caps is fucked....

and we do have escrow built in.

[seriouscoin]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

Couldnt agree more.

Without proper regulatory for exchanges, we're not gonna see any real investors. Those "whales" on the exchanges are either 1) very early adopters gambling or 2) manipulators( exchanges themselves)

What the hell? Why do you need regulation? How would having government crooks overseeing the business crooks remedy anything? Seen WallStreet much? We need distributed exchanges and they will be here soon, not regulation.

Because regulation is what put exchange operators in jail..... not your fantasy anarchy

[TERA]

The exchanges can only follow mtgox for so long, with the gap widening like this, before mtgox reaches 0 and there is nowhere left for it to go.

[piramida]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

Couldnt agree more.

Without proper regulatory for exchanges, we're not gonna see any real investors. Those "whales" on the exchanges are either 1) very early adopters gambling or 2) manipulators( exchanges themselves)

What the hell? Why do you need regulation? How would having government crooks overseeing the business crooks remedy anything? Seen WallStreet much? We need distributed exchanges and they will be here soon, not regulation.

Because regulation is what put exchange operators in jail..... not your fantasy anarchy

really? How many heavily regulated bankers went to jail after 2008? You live in a unicorn land I'm afraid Regulating money is a futile idea.

[tutkarz]

Exchange price would follow if there would be chance for arbitrage. And there is none for now.

[seriouscoin]

So in watching Bitcoinwisdom; it's apparent to me that the other exchanges are following the trading activity on MtGox.

I don't know if it's mostly bot trading or if there are actually people stupid enough to follow this trend...

In any case, it looks like a $200 spread is about all we will see. If Gox goes down to $1 then it looks like Stamp, BTC-e, and Huobi will slit their own throats...

This is a sad day indeed. The hearts of man have failed; a foul darkness spreads...

(I sold 1/3 of my BTC at $796 after the BitcoinSteve prediction just as a safe hedge... I'm still saddened by this series of events even when I stand to profit greatly from it.)

Well, yes its sad to see other exchanges following Gox but its particularly hard not to while being manipulated.... I say most of those large dumps on other exchanges are made by Mark and his friends: https://bitcointalk.org/index.php?topic=464465.0

These exchanges are rat poison.  They are anything but transparent and are susceptible to complete corruption.  An incredible amount of money can be made by trading based solely private exchange data, let alone directly monkeying around with the books.

Couldnt agree more.

Without proper regulatory for exchanges, we're not gonna see any real investors. Those "whales" on the exchanges are either 1) very early adopters gambling or 2) manipulators( exchanges themselves)

What the hell? Why do you need regulation? How would having government crooks overseeing the business crooks remedy anything? Seen WallStreet much? We need distributed exchanges and they will be here soon, not regulation.

Because regulation is what put exchange operators in jail..... not your fantasy anarchy

really? How many heavily regulated bankers went to jail after 2008? You live in a unicorn land I'm afraid Regulating money is a futile idea.

Dont let your judgement clouded because of some documentaries.... yes banking system is very corrupted. I'm not arguing you about that. I'm talking about exchange here not the whole banking system which is overly complicated by law makers and accountants.

Its only benefits to have regulated exchange where their order books are audited by third parties.

[seriouscoin]

Exchange price would follow if there would be chance for arbitrage. And there is none for now.

Oh there is.... just not for you and me ....

[maxxoccupancy]

IF THE FEATURE IS NOT READILY VISIBLE, INTUITIVE, AND FREE, IT MAY AS WELL NOT EVEN EXIST.

[Oldminer]

No no no, this is a GREAT day.

There's a lot of people here needed a reality check.

Hopefully it will mean a lot of noob miners drop out & sell their hardware (and coins) plus we got the doom & gloom the bitcoin nazi's are facing atm.

Personally I couldn't be happier