One more bailout and the trend will reverse for good?

[zby]

It looks like MtGox is pushing up while all the other exchanges are pressing down.  If they catch the fire we'll have a lot of momentum.

[1715143088]

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[film2240]

So you reckon the value of BTC on MtGox exchange is going up while all other exchanges are pressing down? Interesting.I would really like the value to rise again soon.If MtGox was to decide that BTC was worth $12 instead of ~$4 for example,then all the other exchanges would have to follow suit.

How can you bailout BTC currency?

I'm interested in hearing more.

[zby]

How can you bailout BTC currency?

I'm interested in hearing more.

Just have a look at yesterday's charts.

[film2240]

How can you bailout BTC currency?

I'm interested in hearing more.

Just have a look at yesterday's charts.

Can you provide a link to the charts please?

[zby]

sure: http://bitcoincharts.com/charts/mtgoxUSD#rg2zig30-minzczsg2011-10-12zeg2011-10-14zvzt (look around 9pm).

[Cluster2k]

It is rather nice that someone keeps trying to start a trend upwards.  Maybe they'll succeed.  But in the meantime, they give a wonderful opportunity to sell into the strength.

[zby]

It is rather nice that someone keeps trying to start a trend upwards.  Maybe they'll succeed.  But in the meantime, they give a wonderful opportunity to sell into the strength.

If they don't succeed and the 'long term trend' gets broken then bitcoin will lose the only plausible 'growth story' - I think someone realized that and now he tries to steer the trend manually.  I don't know but I think it can work - depending on how deep pocket he has.

But maybe I am wrong here - maybe it was just a rushing investor.  If I tried to reverse the trend I would do that in parallel in many markets.  For example starting a rally in the Chinese market would not cost much money - but some (MtGox) investors would go crazy if they sow that.

[Elwar]

How can you bailout BTC currency?

He cannot. But Obama can.

It is time for the Bitcoin CEO to request a bailout.

[NamelessOne]

It is rather nice that someone keeps trying to start a trend upwards.  Maybe they'll succeed.  But in the meantime, they give a wonderful opportunity to sell into the strength.

If they don't succeed and the 'long term trend' gets broken then bitcoin will lose the only plausible 'growth story' - I think someone realized that and now he tries to steer the trend manually.  I don't know but I think it can work - depending on how deep pocket he has.

But maybe I am wrong here - maybe it was just a rushing investor.  If I tried to reverse the trend I would do that in parallel in many markets.  For example starting a rally in the Chinese market would not cost much money - but some (MtGox) investors would go crazy if they sow that.

I think you are right, it seems pretty clear. This is probably the same person that has sold 10000 into growing rallies and killed them completely. And has frequently created 15000k walls on both the sell and buy side. This person seems to alternate between wanting BTC dead, and wanting to save it. At this point they seem to want to save it, which is great, I only hope they stop placing insane 15000 btc walls that stop rallies in their tracks, and dropping $10000 at once. This person is often referred to as "The Manipulator", but my goodness, dare say that around here and some people flip out, despite the fact that this person clearly exists, AND has enough money to seriously move the market in different directions, even if for only a while.

[ineededausername]

It is rather nice that someone keeps trying to start a trend upwards.  Maybe they'll succeed.  But in the meantime, they give a wonderful opportunity to sell into the strength.

If they don't succeed and the 'long term trend' gets broken then bitcoin will lose the only plausible 'growth story' - I think someone realized that and now he tries to steer the trend manually.  I don't know but I think it can work - depending on how deep pocket he has.

But maybe I am wrong here - maybe it was just a rushing investor.  If I tried to reverse the trend I would do that in parallel in many markets.  For example starting a rally in the Chinese market would not cost much money - but some (MtGox) investors would go crazy if they sow that.

I think you are right, it seems pretty clear. This is probably the same person that has sold 10000 into growing rallies and killed them completely. And has frequently created 15000k walls on both the sell and buy side. This person seems to alternate between wanting BTC dead, and wanting to save it. At this point they seem to want to save it, which is great, I only hope they stop placing insane 15000 btc walls that stop rallies in their tracks, and dropping $10000 at once. This person is often referred to as "The Manipulator", but my goodness, dare say that around here and some people flip out, despite the fact that this person clearly exists, AND has enough money to seriously move the market in different directions, even if for only a while.

Well, the purpose of the manipulation was to get cheap bitcoins.  He is now buying cheap bitcoins.  He doesn't alternate between "wanting it dead and wanting to save it," he just wants profit.

[Edward50]

I seriously doubt it is the same person on both sides. Why would anyone want to lose money by doing that.

However, this person is trying to force the price higher by continuing to place his bidwalls higher.

We need someone to sell into his puny attempt to manipulate the price higher.

[NamelessOne]

Unfortunately it has the same result though, causing market fear, and murdering confidence as prices plummet. If this person isn't aware that crashing prices to get more BTC/profit could contribute to killing it, they are pretty stupid. Unless they just don't care and want the profit as it drops from their own actions, again... no different than wanting it dead.

In terms of it being the same person or not on both ends, buy and sell, these walls frequently go up and come down at the exact same time. A couple clicks of a 'cancel' button on mtgox or insane timing between two rich people numerous times over the months?

[proudhon]

I seriously doubt it is the same person on both sides. Why would anyone want to lose money by doing that.

However, this person is trying to force the price higher by continuing to place his bidwalls higher.

We need someone to sell into his puny attempt to manipulate the price higher.

A bunch of us should sell right now and try to drop the price another 50% from where it's at.  Then, let's some of us take the money out of the exchange and be done with bitcoin.  Some others of us should buy back in and raise the price to nearly where it was before we all sold.  Then after having expended all our funds, let's watch the price slowly drop over a period of days.  Then, to gain an even stronger bitcoin position, the rest of us should sell again, dropping the price another 50% from where it settled over the several day long stagnation.  Some of us should then take our money and leave.  The rest of us should buy back in again, increasing our position.  But, as before, since not all of us will be buying back in, as some of us will have taken our money out, the price will not go back to where it was before.  But, that's ok.  After another period of stagnation, those of us left can sell again, dropping the price another 50% and increase our position, and then....

...and this is how the exchange rate of bitcoin will get closer and closer to zero.  For months I've been saying the price won't exceed $20 for the rest of 2011.  I'm now quite confident it won't exceed $10 for the rest of 2011.

[Edward50]

To sum it up, people are crazy to buy in right now. It seems that people forget what the old prices were, and a price spike to 4.45 will make people think bitcoins are doing great. It can barely hold $4.00 now, just like it was hanging around $5.00 and $6.00. The price needs to take a beating some more then we will be around $3.00.

[Gabi]

We are going to drop at 3$.

[film2240]

I've got some news that may or may not help with pushing the values up.There is a film I making that is partly funded by BTC.The film will be finished sometime in Q1 2012.I can't mention anymore than that yet (the film will still be made regardless of BTC situation though but the fact that it is partly funded by BTC should encourage the value to go up).

I think getting the word out now might help things:There is a film in progress that is partly funded by bitcoins that have been mined by his computers.

How do you like it guys? Good idea or not so helpful?

[Hotdog453]

I've got some news that may or may not help with pushing the values up.There is a film I making that is partly funded by BTC.The film will be finished sometime in Q1 2012.I can't mention anymore than that yet (the film will still be made regardless of BTC situation though but the fact that it is partly funded by BTC should encourage the value to go up).

I think getting the word out now might help things:There is a film in progress that is partly funded by bitcoins that have been mined by his computers.

How do you like it guys? Good idea or not so helpful?

I don't think it'll do anything at all to the market value of BTC, unless it's starring some huge actor. Otherwise it'll just be talked about in the echo chamber of the Bitcointalk forums.

Now, if you had Brad Pitt and Angelina Jolie on E! Hollywood Tonight talking about getting a paycheck in BTC... well, that'd be different.

[film2240]

I've got some news that may or may not help with pushing the values up.There is a film I making that is partly funded by BTC.The film will be finished sometime in Q1 2012.I can't mention anymore than that yet (the film will still be made regardless of BTC situation though but the fact that it is partly funded by BTC should encourage the value to go up).

I think getting the word out now might help things:There is a film in progress that is partly funded by bitcoins that have been mined by his computers.

How do you like it guys? Good idea or not so helpful?

I don't think it'll do anything at all to the market value of BTC, unless it's starring some huge actor. Otherwise it'll just be talked about in the echo chamber of the Bitcointalk forums.

Now, if you had Brad Pitt and Angelina Jolie on E! Hollywood Tonight talking about getting a paycheck in BTC... well, that'd be different.

Thanks for the helpful feedback hotdog :-)
I guess only big films with big actors being paid in BTC will really help the BTC economy.I do think that my film will be (very) briefly mentioned as being funded by BTC but as there are no actors as such,it probably won't affect the BTC value much.

[gewure]

here you got your bailout. hurts!!