URGENT, Bitcoin is on the verge of collapse !!!

[igorr]

yellow and green lines (Bid/Ask lines) are merged after more than two years.

View Screen Capture

[fonzie]

Uuuuh, that looks really bad. Thanks for sharing igorr.

[igorr]

Uuuuh, that looks really bad. Thanks for sharing igorr.

next week will be a hell

[Pentax]

Place a bet on it.

http://bitbet.us/bet/756/btc-to-drop-below-400-before-march/

[Operatr]

Bitcoin is going to die again? Well damn, better sell sell sell!

[igorr]

Place a bet on it.

http://bitbet.us/bet/756/btc-to-drop-below-400-before-march/

Sory,
if I now place bet 1BTC (618 usd) , and if I win, I will win 2.77BTC but the price will be below 400 usd,
and again I did not get anything, 2.77 BTC x300 usd = 831 usd, while I bet paid 618 usd
It's not a fair bet.
I only can place bet in usd.

Bitcoin is going to die again? Well damn, better sell sell sell!

Yes, Bitstamp 590 usd and go down

[sraosha]

this is one of the dumbest fud threads ive seen yet, congrats lol

I love this solid arguments. Why not come up with some?

[gambitx]

Oh no $15million oh no no no plz no don't no plz help...





HELP!

[igorr]

Oh no $15million oh no no no plz no don't no plz help...
HELP!

remember,
Every day is generated around 4800 new bitcoins or 3 milion usd, it needs someone to pay, but who?  
+ all bitcoin will comes from Mtgox to Bitstamp, accumulation bitcoins is increased.

[Impaler]

Yes it would take only about 6 days worth of BTC mining being sold to completely empty the BitStamp exchanges of USD (Gox because of lower price and higher USD would take 1 month).

People need to understand that BTC 'market-cap' of BILLIONS is an illusion created by hoarding 99% of the supply and keeping a mere ~20K (0.1% of Total) coins on exchanges to be offered in exchange for USD.  This gives us an absurdly shallow and volatile market, you hardly even need to be a 'whale' anymore to move the price.

A 'safe' valuation for a BTC is the 'total-supply' that everyone loves to talk about divided by total offered dollars, which would give us a value of around $3.50 right now if you total all the USD on all exchanges, round up to $5 even for all the Euro and Yuan markets too.  That's a valuation that people could feel confident in not losing value at due to this kind of 'bank-run'.

[igorr]

All this is just speculation.
When mining become impossible, and manufacturer of mining hardware come out of the game, Bitcoin will collapse to $ 10. (will collapse like a house of cards)
and it will happen for later than two month.

For next 4 hours we have change difficulty +20%, or new diffuculty is 3.2 bilion !

[cooldgamer]

It's got more support than resistance (Gox doesn't count), but it wouldn't take that much $$ either way for a big change in price... so you're pretty much telling us Bitcoin is volatile.  In other news, the sky is blue today

[smoothie]

OP should change title of the thread to "URGENT, MTGOX is on the verge of collapse !!!"

[igorr]

OP should change title of the thread to "URGENT, MTGOX is on the verge of collapse !!!"

Not only Mtgox, everything is on the verge of collapse include and LTC (Bitstamp,BTC-e,Huobi)

[gambit1]

What are you defining as a collapse.

[igorr]

What are you defining as a collapse.

I primarily think of crypto coins,
fall to 100-150 usd

[gambit1]

That's the price rather than the coin collapsing, just to be clear. It matters if you are an investor rather than a user.

[igorr]

That's the price rather than the coin collapsing, just to be clear. It matters if you are an investor rather than a user.

No more any investor in bitcoin, producers of mining hardware mass exit from mining, (diffuculty is 3.2 bilion)
and sell all their hardware.
Game is over.

[traderCJ]

igorr, in your expert opinion, would you refer to this as a tarp?

[phlogistonq]

Yes it would take only about 6 days worth of BTC mining being sold to completely empty the BitStamp exchanges of USD (Gox because of lower price and higher USD would take 1 month).

People need to understand that BTC 'market-cap' of BILLIONS is an illusion created by hoarding 99% of the supply and keeping a mere ~20K (0.1% of Total) coins on exchanges to be offered in exchange for USD.  This gives us an absurdly shallow and volatile market, you hardly even need to be a 'whale' anymore to move the price.

A 'safe' valuation for a BTC is the 'total-supply' that everyone loves to talk about divided by total offered dollars, which would give us a value of around $3.50 right now if you total all the USD on all exchanges, round up to $5 even for all the Euro and Yuan markets too.  That's a valuation that people could feel confident in not losing value at due to this kind of 'bank-run'.

While I agree the market cap is misleading, your method also doesn't yield an useful figure for BTC value.
The amount of bids in the order book at any given instant is not an accurate representation of the total amount for which coins can be sold since the order book is very dynamic. It adjusts rapidly after every trade and event, and nobody should be so foolish to dump enough coins on any exchange to take it to $0 instantly (I don't count the mtGox hack of 2011, it has nothing to do with normal trading). In case of a massive bank run, many bids will be removed or placed at very low prices quickly.