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Author Topic: BIDWALL MELTS!!!  (Read 3597 times)
ineededausername
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October 24, 2011, 07:14:24 PM
 #1



Wow!  It went right down to $2.5!

(BFL)^2 < 0
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Minsc
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October 24, 2011, 07:28:42 PM
 #2

The Manipulator, dude.

Oh well, I guess it's time to PANIC SELL!!!!!

Bidwalls usually get cancelled when hit.

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ineededausername
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October 24, 2011, 07:35:26 PM
 #3

The Manipulator, dude.

Oh well, I guess it's time to PANIC SELL!!!!!

Bidwalls usually get cancelled when hit.

The thing is, panic sells usually DO happen after the manipulator pulls out his wall.

(BFL)^2 < 0
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October 24, 2011, 08:09:27 PM
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I love it, been saying in my recent posts that once this wall goes, it is all downhill.

Still too much optimism around here. Not nearly as much as a few months ago, but you speculators need to be shaken up a bit more until you learn your lesson. You still just don't get it that your dealing with an item similar to an antique. The only problem is, every single minute more and more of the item you own are getting thrown into the market.

This is not like stocks, which are a fixed amount and make you money through company profits. It is not like a commodity where people actually need to use the item. You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.

You will all get burned, dropping from $30 to $2 was not enough to stop the optimism. Hopefully the next downturn will beat you guys up enough to stop with the crap about bitcoin rising again.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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October 24, 2011, 08:18:59 PM
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I love it, been saying in my recent posts that once this wall goes, it is all downhill.

Still too much optimism around here. Not nearly as much as a few months ago, but you speculators need to be shaken up a bit more until you learn your lesson. You still just don't get it that your dealing with an item similar to an antique. The only problem is, every single minute more and more of the item you own are getting thrown into the market.

This is not like stocks, which are a fixed amount and make you money through company profits. It is not like a commodity where people actually need to use the item. You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.

You will all get burned, dropping from $30 to $2 was not enough to stop the optimism. Hopefully the next downturn will beat you guys up enough to stop with the crap about bitcoin rising again.
you just want to buy @1.5$ admit it
evoorhees
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October 24, 2011, 08:24:13 PM
 #6

You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.


No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

But, place your bets where you wish - with such confidence surely you are shorting the market? Or are you just talking? I encourage you to profit from your foresight. Bitcoinica will give you 5:1 margin for a short position... why not come back in a month and tell us how much money you've made?! I'll personally apologize to you for my skepticism of your reasoning.
Edward50
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October 24, 2011, 08:27:09 PM
 #7

I love it, been saying in my recent posts that once this wall goes, it is all downhill.

Still too much optimism around here. Not nearly as much as a few months ago, but you speculators need to be shaken up a bit more until you learn your lesson. You still just don't get it that your dealing with an item similar to an antique. The only problem is, every single minute more and more of the item you own are getting thrown into the market.

This is not like stocks, which are a fixed amount and make you money through company profits. It is not like a commodity where people actually need to use the item. You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.

You will all get burned, dropping from $30 to $2 was not enough to stop the optimism. Hopefully the next downturn will beat you guys up enough to stop with the crap about bitcoin rising again.
you just want to buy @1.5$ admit it

more like under $1.00  Wink

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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October 24, 2011, 08:30:12 PM
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No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

holy crap, you must not have much in your life

Edward50
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October 24, 2011, 08:51:26 PM
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No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

holy crap, you must not have much in your life

your right, if bitcoin can by me hookers or girls, I would then consider it useful.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
Edward50
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October 24, 2011, 08:57:52 PM
 #10

Anyone notice the $2.00 bidwall gone?

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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October 24, 2011, 10:24:52 PM
 #11

no, still a 36k bitwall at 2$, according to mtgox' market depth.

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October 24, 2011, 10:42:55 PM
 #12

You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.


No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

How is bitcoin any more useful than I0Coin? It isn't. Except I0Coin is worth $0 and bitcoin isn't just yet.
Minsc
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October 24, 2011, 10:45:38 PM
 #13

The thing is, panic sells usually DO happen after the manipulator pulls out his wall.

I heard people use these bidwalls sellwalls to catch swings so if they are hammered, their tradebots remove and change them.

I'm surprised it dropped again.  I still suspect that the lower it falls, the higher it'll swing up.

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Anduril
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October 25, 2011, 01:30:35 AM
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But, place your bets where you wish - with such confidence surely you are shorting the market? Or are you just talking? I encourage you to profit from your foresight. Bitcoinica will give you 5:1 margin for a short position... why not come back in a month and tell us how much money you've made?! I'll personally apologize to you for my skepticism of your reasoning.

I keep seeing comments similar to this one. Not everyone here is for profit, personally I'm just very interested in what is going on for various reasons related to my day job. I have been negative of the implementation of Bitcoin from the start, but never thought of placing any bets, or trying to short, even though I was sure that the price would continue to drop.

The reason? I simply don't trust the exchanges. Not a single one of them. Not even to short. This I believe is a big part of the problem with BTC, the technology can be as resilient as anything in the world, but the implementation fails at the choke points.
ineededausername
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October 25, 2011, 01:32:49 AM
 #15

Wow, here comes a fake spike.  Time to short.

(BFL)^2 < 0
Dan The Man
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October 25, 2011, 01:38:12 AM
 #16

Wow, here comes a fake spike.  Time to short.

Yeah, I watched the whole thing. Sold all my holdings at 2.75 thinking that was already a ridiculous high. The bottom of the bounce will be a good time to buy in I think if it drops past 2.4 I can't imagine the ridiculous optimism of whoever was buying at over $3 on the top end of a huge spike.

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October 25, 2011, 01:59:20 AM
 #17

Wow, here comes a fake spike.  Time to short.

Yeah, I watched the whole thing. Sold all my holdings at 2.75 thinking that was already a ridiculous high. The bottom of the bounce will be a good time to buy in I think if it drops past 2.4 I can't imagine the ridiculous optimism of whoever was buying at over $3 on the top end of a huge spike.

Perhaps those over $3 were forced liquidations of short positions?

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October 25, 2011, 02:02:21 AM
 #18

You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.


No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

How is bitcoin any more useful than I0Coin? It isn't. Except I0Coin is worth $0 and bitcoin isn't just yet.

it's more useful because it's accepted at more places and by more people than i0coin.

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October 25, 2011, 02:15:11 AM
 #19

You are dealing with something that has no useful value other than speculators and miners trying to get money out of it.


No useful value.... I disagree strongly. In fact, I can think of very few things which are more useful than Bitcoin.

How is bitcoin any more useful than I0Coin? It isn't. Except I0Coin is worth $0 and bitcoin isn't just yet.

it's more useful because it's accepted at more places and by more people than i0coin.


Canadian Tire money is accepted at more places than Bitcoin, so that's not a valid argument at all. Bitcoin doesn't have a fundamental value, and isn't directly convertible in the current state of things. That means its minimal value is just slightly below zero.

Once Bitcoin becomes useful, I'd think it will go up again. Until them, I'm enjoying shorting them.
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October 25, 2011, 02:28:42 AM
 #20

Bitcoin doesn't have a fundamental value, and isn't directly convertible in the current state of things. That means its minimal value is just slightly below zero.
International, secure, fast, low-cost, unregulated money transfer is of worth less than 0. Can't wait till I get paid to use Bitcoin!
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