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Author Topic: Markets not reacting to loss of 100s of Millions of $ is disturbing  (Read 5339 times)
cosmofly
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March 01, 2014, 08:51:17 AM
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Markets not reacting to gox bankruptcy and loss of hundreds of millions of dollars worth of customer money is not just disturbing but confirms my earlier statements about market manipulation.

People here shrug gox bankruptcy like its nothing, but it is very huge and a major dent in bitcoin public confidence. This event has also delayed any major wall street institution from getting involved until there is a major regulated and licensed US exchange running.

In a way I'm glad this is happening as it confirms my position, as I stated before we will see a major dip soon on or before March 16

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Ibian
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March 01, 2014, 08:59:40 AM
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It is nothing - to anyone who didn't have funds on gox. They are and have been for months now a separate market. This just made it official.

Disclosure: I am secretly a whale with two million BTC and half a billion dollars and an agenda.

There is no bubble.
casinocoin
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March 01, 2014, 09:02:56 AM
 #3

It's only disturbing to the media and person(s) who decided to leave their bitcoins on the internet.
Personally I don't even trust a bank in the end, so why would you trust magic the gathering online exchange.

They *may* have lost 800k bitcoins but theres still 11m other ones out there
chrisLG
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March 01, 2014, 09:05:41 AM
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Mt.Gox being bankrupt is not news. The markets have anticipated that for weeks now. This is why the price dropped from the 800s to where we are now in the last few weeks.
Buffer Overflow
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March 01, 2014, 09:05:51 AM
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Markets not reacting to gox bankruptcy and loss of hundreds of millions of dollars worth of customer money is not just disturbing but confirms my earlier statements about market manipulation.

Bitcoin is being stress tested. Markets are holding because Bitcoin strong. Of course the press will tell you quite a different story.


bitleif
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March 01, 2014, 09:07:02 AM
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It's called being "priced in". The markets HAVE reacted, that's why we're down in the 500s now.

That's not to say further bad news won't get us lower though.
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March 01, 2014, 09:14:19 AM
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Price is going down because speculators expect a panic or try to create/accelerate one, but if you think about it, Bitcoin investors now own ~500K less bitcoins then they thought they did. If anything that should eventually drive prices up.
cosmofly
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March 01, 2014, 09:18:19 AM
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It's called being "priced in". The markets HAVE reacted, that's why we're down in the 500s now.

That's not to say further bad news won't get us lower though.

Price going from $700 - $500 is far from being priced in. Im closely observing the market movements and I'm convinced of manipulation especially by Chinese players. The markets are already exauhsted and the fact the price remains in upper $500 is too good to be true. As I stated before there will be a lot of bankrupt Piglets buying in this range with the very last bit of fiat they got. The manipulators are selling off their expensive bitcoins to these piglets who will bleed soon once the market has no breath left.

I am confident that I will be proven right in the coming weeks, a v simple indicator is for u all to see just how exaushted the market is buying and selling at these lvls when hundreds of millions of dollars were just wiped out of the bitcoin economy
cosmofly
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March 01, 2014, 09:20:13 AM
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Price is going down because speculators expect a panic or try to create/accelerate one, but if you think about it, Bitcoin investors now own ~500K less bitcoins then they thought they did. If anything that should eventually drive prices up.

Wake up! Hundreds of millions of dollars were just wiped out of the bitcoin economy. This is no joke

There is HUNDREDS OF MILLIONS of fiat dollars less liquidity in bitcoin markets now, who will compensate for that? ONLY ONE WAY for Market to collapse to $300 or less

Wake up ppl! See the real picture be smart
Puppet
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March 01, 2014, 09:21:08 AM
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I didnt say it was a joke. But if it turns out there is no gold in fort knox, would the price of gold collapse?
F-bernanke
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March 01, 2014, 09:23:08 AM
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Price is going down because speculators expect a panic or try to create/accelerate one, but if you think about it, Bitcoin investors now own ~500K less bitcoins then they thought they did. If anything that should eventually drive prices up.

Wake up! Hundreds of millions of dollars were just wiped out of the bitcoin economy. This is no joke

Wake up ppl! See the real picture be smart

Please think, your not getting the big picture, read this topic:

https://bitcointalk.org/index.php?topic=493397.0
RicePicker
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March 01, 2014, 09:23:36 AM
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I find it had to believe that this Mtgox incident can be considered priced in when the volume in the exchanges are less than 5% of the number of bitcoins that exist and the fact that most large holders of bitcoins are sure as hell not going to trust any exchange to sell any large quantity of coins when they can be fucked so easily like Mtgox did.  

Everyone is entitled to their own opinion. It's just that yours is stupid! =D
Sindelar1938
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March 01, 2014, 09:23:58 AM
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You gotta love the panic mongering sock puppetry doing the rounds

Gox is old hat, not irrelevant but not by any means critical

cosmofly
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March 01, 2014, 09:26:59 AM
 #14

Price is going down because speculators expect a panic or try to create/accelerate one, but if you think about it, Bitcoin investors now own ~500K less bitcoins then they thought they did. If anything that should eventually drive prices up.

Wake up! Hundreds of millions of dollars were just wiped out of the bitcoin economy. This is no joke

Wake up ppl! See the real picture be smart

Please think, your not getting the big picture, read this topic:

https://bitcointalk.org/index.php?topic=493397.0

Holy crap the ignorance, who will pay back the hundreds of millions of dollars Huh Ask this question please.

Who the fuck will compensate the markets ?

There is HUNDREDS OF MILLIONS of fiat dollars less liquidity in bitcoin markets now, who will compensate for that?

ONLY ONE WAY: for Market to collapse to $300 or less
F-bernanke
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March 01, 2014, 09:29:13 AM
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Holy crap the ignorance, who will pay back the hundreds of millions of dollars Huh Ask this question please.

Who the fuck will compensate the markets ?

There is HUNDREDS OF MILLIONS of fiat dollars less liquidity in bitcoin markets now, who will compensate for that?

ONLY ONE WAY: for Market to collapse to $300 or less

yeah, theres there are millions of dollars missing, BUT THERE ARE 750K BTC MISSING!!! Thats a much higher value than the dollars that are missing. please read topic i linked and think ik trough.
cosmofly
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March 01, 2014, 09:35:10 AM
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Holy crap the ignorance, who will pay back the hundreds of millions of dollars Huh Ask this question please.

Who the fuck will compensate the markets ?

There is HUNDREDS OF MILLIONS of fiat dollars less liquidity in bitcoin markets now, who will compensate for that?

ONLY ONE WAY: for Market to collapse to $300 or less

yeah, theres there are millions of dollars missing, BUT THERE ARE 750K BTC MISSING!!! Thats a much higher value than the dollars that are missing. please read topic i linked and think ik trough.

The missing bitcoins are irrelevant, because no one is going to buy or sell them. Its not even clear if they are missing or alreafy circulating the markets. What matters is there is hundreds of millions of fiat dollars missing these dollars matter because they r going to create the liquidity in the market that will buy ur overpriced coins. Now there is a massive chunk gone, the markets will collapse as a result to compensate.

Ppl have gotten so used to bashing fiat that u forget to calculate it in the bigger picture. U forget that bitcoin price depends on fucking fiat buying and sell it.

PseudoCode
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March 01, 2014, 09:42:08 AM
 #17

Markets not reacting to gox bankruptcy and loss of hundreds of millions of dollars worth of customer money is not just disturbing but confirms my earlier statements about market manipulation.

People here shrug gox bankruptcy like its nothing, but it is very huge and a major dent in bitcoin public confidence.
"
 This event has also delayed any major wall street institution from getting involved until there is a major regulated and licensed US exchange running.

In a way I'm glad this is happening as it confirms my position, as I stated before we will see a major dip soon on or before March 16


Did you ever stop to consider, that maybe it indicates that people (The market) have more confidence in the product than *you* do ? That *1* company going down *isnt "huge" ??

Perhaps they actually *understand that because a single company (amongst many) that dealt in a product went down due to the mismanagement and incompetence of its staff, that it isnt the fault of the product they traded ?

Or are you *really bemoaning the fact that your hopes to get your hands on this *irreplaceable product at a bargain price as the uneducated were hopefully spooked by the failure of a *distributor did not happen ?

"Darn, All this bad news, and they *Still aren't running scared and dumping ?  Why isnt the market reacting to this seeming bad-news ? What *is this thing they HODL so tight *worth to them ?"

All of you people trying to spread your FUD in *either direction for your short term personal gain remind me of spruikers at a market hawking your wares to try and make a sale by shouting the loudest.

Bitcoin should and *will succeed or fail purely on its merits and usefulness, not on how many uneducated people can be stampeded with pathetic self-serving attempts to tarnish its image and confidence for personal gain.

cosmofly
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March 01, 2014, 09:47:10 AM
 #18

Markets not reacting to gox bankruptcy and loss of hundreds of millions of dollars worth of customer money is not just disturbing but confirms my earlier statements about market manipulation.

People here shrug gox bankruptcy like its nothing, but it is very huge and a major dent in bitcoin public confidence.
"
 This event has also delayed any major wall street institution from getting involved until there is a major regulated and licensed US exchange running.

In a way I'm glad this is happening as it confirms my position, as I stated before we will see a major dip soon on or before March 16


Did you ever stop to consider, that maybe it indicates that people (The market) have more confidence in the product than *you* do ? That *1* company going down *isnt "huge" ??

Perhaps they actually *understand that because a single company (amongst many) that dealt in a product went down due to the mismanagement and incompetence of its staff, that it isnt the fault of the product they traded ?

Or are you *really bemoaning the fact that your hopes to get your hands on this *irreplaceable product at a bargain price as the uneducated were hopefully spooked by the failure of a *distributor did not happen ?

"Darn, All this bad news, and they *Still aren't running scared and dumping ?  Why isnt the market reacting to this seeming bad-news ? What *is this thing they HODL so tight *worth to them ?"

All of you people trying to spread your FUD in *either direction for your short term personal gain remind me of spruikers at a market hawking your wares to try and make a sale by shouting the loudest.

Bitcoin should and *will succeed or fail purely on its merits and usefulness, not on how many uneducated people can be stampeded with pathetic self-serving attempts to tarnish its image and confidence for personal gain.



Has nothing to do with bitcoin confidence. Its pure manipulation that will end soon, the pigs will die.
PseudoCode
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March 01, 2014, 09:49:49 AM
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Has nothing to do with bitcoin confidence. Its pure manipulation that will end soon, the pigs will die.

Sez You  Tongue
JoelKatz
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March 01, 2014, 09:49:57 AM
 #20

Markets not reacting to gox bankruptcy and loss of hundreds of millions of dollars worth of customer money is not just disturbing but confirms my earlier statements about market manipulation.
For every argument why this should make the markets go down, there's an argument for why it should make the markets go up. Perhaps all these factors were already priced in. One that definitely changed is a reduction in uncertainty.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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