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Author Topic: 3 is the magic number, and the magic number is 3  (Read 7100 times)
old_engineer
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November 14, 2011, 09:46:29 PM
 #81

Oh look who got burned... and look at the second post Smiley


Or look at the first post:

My prediction: prices won't drop below $2 or go above $4 this year

So far so good.  There $6 MILLION USD in volume yesterday, and the price still didn't drop below $2.  There's some measure in success in finding the floor of support.

I sold at 3.x, bought back in 2.5x, and am up >1000 coins from last week.  My guess is that Mr. Manipulator will buy up all orders below $2.5 sometime in the next 24 hours, and then I'll be back in the black.
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November 14, 2011, 10:00:08 PM
 #82

Oh look who got burned... and look at the second post Smiley


Or look at the first post:

My prediction: prices won't drop below $2 or go above $4 this year

So far so good.  There $6 MILLION USD in volume yesterday, and the price still didn't drop below $2.  There's some measure in success in finding the floor of support.

I sold at 3.x, bought back in 2.5x, and am up >1000 coins from last week.  My guess is that Mr. Manipulator will buy up all orders below $2.5 sometime in the next 24 hours, and then I'll be back in the black.


or Mr. Manipulator just leaves.
I think both is good

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November 14, 2011, 10:05:34 PM
 #83

Oh look who got burned... and look at the second post Smiley


Or look at the first post:

My prediction: prices won't drop below $2 or go above $4 this year

So far so good.  There $6 MILLION USD in volume yesterday, and the price still didn't drop below $2.  There's some measure in success in finding the floor of support.

I sold at 3.x, bought back in 2.5x, and am up >1000 coins from last week.  My guess is that Mr. Manipulator will buy up all orders below $2.5 sometime in the next 24 hours, and then I'll be back in the black.


or Mr. Manipulator just leaves.
I think both is good

Doubt that'll happen.  The so-called "manipulator" likely has an extremely vested interest in BTC and using BTC.

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November 14, 2011, 10:20:09 PM
 #84

So far so good.  There $6 MILLION USD in volume yesterday, and the price still didn't drop below $2.  There's some measure in success in finding the floor of support.

Why do you think that there is only a manipulator manipulating one side? To successfully manipulate, you have to be working both sides. Volume doesn't mean dick. If he thinks he can get you fools to panic and sell out so he can buy cheaper coins to rinse and repeat, you are falling for the manipulation. This person or persons is siphoning money off of the economy from early adopter "wealth." Obviously he is doing a very good job of it by the misclick $250k ask that was up there for all of 3 seconds. Sure, some of you may make a few dollars in the mean time, but tens of thousands of people have lost wealth due to this shit, and are going to start giving up on this whole thing real soon. I guarantee you he will be there to crash the market and get what he can before most anyone else will.

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November 14, 2011, 10:30:20 PM
 #85

So far so good.  There $6 MILLION USD in volume yesterday, and the price still didn't drop below $2.  There's some measure in success in finding the floor of support.

Why do you think that there is only a manipulator manipulating one side? To successfully manipulate, you have to be working both sides. Volume doesn't mean dick. If he thinks he can get you fools to panic and sell out so he can buy cheaper coins to rinse and repeat, you are falling for the manipulation. This person or persons is siphoning money off of the economy from early adopter "wealth." Obviously he is doing a very good job of it by the misclick $250k ask that was up there for all of 3 seconds. Sure, some of you may make a few dollars in the mean time, but tens of thousands of people have lost wealth due to this shit, and are going to start giving up on this whole thing real soon. I guarantee you he will be there to crash the market and get what he can before most anyone else will.

+1 for most of it

question is is s/he acutally in the green or has s/he himself lost in the bubble? I know that would be hard to find out - just wondering

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November 15, 2011, 01:33:47 AM
 #86

.... and the magic number is now 2.2?

We are now on the low side of where the market belongs, unless we have another day with 350,000 Bitcoins sold..
This day of record sales still couldn't drop the exchange as much as the last big fire sale a month ago.



Hooray for cheap bitcoins, I just turned the last of my $ into ฿ at 2.2. Now I need to sell some stuff for Bitcoins.

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November 15, 2011, 01:45:07 AM
 #87

Sure, some of you may make a few dollars in the mean time, but tens of thousands of people have lost wealth due to this shit, and are going to start giving up on this whole thing real soon.
There is nothing wrong when people lose "wealth" in these times.  That is their own fault.  And props to the traders who can profit in those situations.  There are ways of making money on the way down if you know how to trade.  Also, if these people lose their BTC because of bad trades then it continues the fundamental change of ownership I talked about a few weeks ago.  Let these people quit, other people will be there to step in and take the reigns.
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November 15, 2011, 02:21:37 AM
 #88

Sure, some of you may make a few dollars in the mean time, but tens of thousands of people have lost wealth due to this shit, and are going to start giving up on this whole thing real soon.
There is nothing wrong when people lose "wealth" in these times.  That is their own fault.  And props to the traders who can profit in those situations.  There are ways of making money on the way down if you know how to trade.  Also, if these people lose their BTC because of bad trades then it continues the fundamental change of ownership I talked about a few weeks ago.  Let these people quit, other people will be there to step in and take the reigns.

I'm in the 'big looser' camp having doubled down on several big dives and never having sold a single BTC.  At the end of the day, however, I made up my mind from a fundamental foundation that I wanted secret keys which represent a positive value in the Satoshi block chain and see nothing (yet) to change the reasons for desiring this.  So the fall in value has been a real benefit to me.

I've got nothing but admiration for people who have been clever enough to have made money on the way down...and nothing but distain for people who falsely claim to have done so knowing that nobody can cross-check.   I suspect that a majority of the loud mouths here are in the latter category.


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November 15, 2011, 02:28:12 AM
 #89

There is nothing wrong when people lose "wealth" in these times.  That is their own fault.  And props to the traders who can profit in those situations.  There are ways of making money on the way down if you know how to trade.  Also, if these people lose their BTC because of bad trades then it continues the fundamental change of ownership I talked about a few weeks ago.  Let these people quit, other people will be there to step in and take the reigns.

It's the same dogshit as fiat currency. Lose wealth one way or another. Making money by siphoning it off from others for nothing productive. Yay greed, how we are slaves to thee.

old_engineer
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December 14, 2011, 11:10:22 AM
 #90

... and we're back to $3 again after a big selloff.  Two (or perhaps even 3) big players were involved: the first one sold off down to $3.10, then presumably the same person added moved their askwall from $3.50 to $3.10:


* Next, someone added a huge bidwall at $3.01
* Then everything from $3.10 to $3.01 was sold into
* About two minutes later, 3k btc was sold at 3.00
* And now an even larger buy wall at 3.00 (now 3.02) was created, and the ask walls disappeared
* a small ask wall was left at $3.10

So... i think a big player wants to sell more at $3.10, and is not-so-subtly setting bids & asks to make it more likely.

Some great late-night action (well, for everyone else here in PST)!

I'm telling ya, $3.00 is a strange attractor, and I think it will be for at least a few more weeks, if not months.

Also, some Mt. Gox oddness: I put in a small order at $3.00 after the drop, and it sat there "In Queue" for over 2 minutes, and never got fulfilled.  Sad
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December 14, 2011, 11:24:51 AM
 #91

Actually, a bit more steps happened.
Here's all the fast moves larger than ฿1000:

10:30:58 mtgox   x15 1,218.1675 @     3.17102144 USD
10:31:41 mtgox   x50 2,507.3574 @     3.15338919 USD
10:33:06 mtgox   x28 1,010.5000 @     3.14034385 USD
10:35:41 mtgox  x100 2,176.2585 @     3.11423792 USD
10:36:27 mtgox   x21 1,149.9441 @     3.10       USD
10:44:06 mtgox  x100 2,520.7054 @     3.08362834 USD
10:45:17 mtgox   x99 1,559.5521 @     3.05077617 USD
10:46:22 mtgox   x69 5,919.6702 @     3.01727388 USD
10:54:10 mtgox  x100 4,044.2884 @     3.02022366 USD
10:54:50 mtgox   x46 3,501.7343 @     3.00       USD
10:59:11 mtgox    x8 1,100.4403 @     3.00       USD

(The x100 things are how many transactions were involved.)

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December 14, 2011, 02:18:14 PM
 #92

Forced liquidations?

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December 14, 2011, 05:05:03 PM
 #93

Also, some Mt. Gox oddness: I put in a small order at $3.00 after the drop, and it sat there "In Queue" for over 2 minutes, and never got fulfilled.  Sad

I've been seeing this quite frequently lately. I put blame on Gox's end. It always happens when a large movement happens with a lot of subsequent bid adjustments. Then there's the spam bot with thousands of .01BTC spot price buys/sells.

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December 14, 2011, 11:53:19 PM
 #94

Also, some Mt. Gox oddness: I put in a small order at $3.00 after the drop, and it sat there "In Queue" for over 2 minutes, and never got fulfilled.  Sad

I've been seeing this quite frequently lately. I put blame on Gox's end. It always happens when a large movement happens with a lot of subsequent bid adjustments. Then there's the spam bot with thousands of .01BTC spot price buys/sells.

I thought there was a limit on how small you could put an order?

I think it is .01. Though, I have seen .00 tick on goxlive.

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December 16, 2011, 08:40:53 PM
 #95

Wow, the magic number seems to be 3.2 now!  It's been here for days...

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December 16, 2011, 09:03:25 PM
 #96

Wow, the magic number seems to be 3.2 now!  It's been here for days...

Not for long... going up a bit soon.. Wink

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December 16, 2011, 09:04:39 PM
 #97

Wow, the magic number seems to be 3.2 now!  It's been here for days...

Not for long... going up a bit soon.. Wink

$4 by Christmas, we can do it!

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December 16, 2011, 09:15:46 PM
 #98

Wow, the magic number seems to be 3.2 now!  It's been here for days...
Nice and boring, just the way people like their currencies. Smiley

Did you notice that the 30 day moving average just passed the inflection point, and is pointing up now?  This 60 day chart (the default on bitcoincharts) is entirely between $2 and $4, too, with that huge selloff day in mid-October having dropped off the chart:



21 of last 27 days have been gains.  Everyone likes a winner... perhaps that's why the order book has been seeing such strong growth?

I'm all long again, having filled up on the way down to $3.00 a few days ago, but I don't have any sell orders placed yet.  I don't know where to put them.
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December 16, 2011, 09:23:04 PM
 #99

Did you notice that the 30 day moving average just passed the inflection point, and is pointing up now? 

Saw that Smiley  I pointed it out in the Nagle's Favorite Chart thread, because the chart you posted is indeed his favorite chart.  Or was... the leader of the bears seems to have disappeared Wink

Minor nitpick: inflection point means the second derivative, not the first, has changed signs.

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December 16, 2011, 09:26:53 PM
 #100

Wow, the magic number seems to be 3.2 now!  It's been here for days...
Nice and boring, just the way people like their currencies. Smiley

Did you notice that the 30 day moving average just passed the inflection point, and is pointing up now?  This 60 day chart (the default on bitcoincharts) is entirely between $2 and $4, too, with that huge selloff day in mid-October having dropped off the chart:



21 of last 27 days have been gains.  Everyone likes a winner... perhaps that's why the order book has been seeing such strong growth?

I'm all long again, having filled up on the way down to $3.00 a few days ago, but I don't have any sell orders placed yet.  I don't know where to put them.


I'm seeing this also, it's showing strength and resilience to the sells.

I'm having more faith every day, and I suspect a lot of others are too..

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