WTF

[Crypt_Current]

nuff said?

[proudhon]

nuff said?

Somebody trying to squeeze shorts maybe?

[Serge]

nuff said?

Somebody trying to squeeze shorts maybe?

in both directions!

[proudhon]

Looks like we've got a bull vs bear battle going on right now.

[waspoza]

Holy mother of god...

[proudhon]

Even if you're bearish, I don't know why you would sell immediately after a run like that.

[Matthew N. Wright]

High:$5.70000
Low:$4.72410

That's fucking hilarious. Bitcoin is wildly varying by an entire dollar.

[proudhon]

High:$5.70000
Low:$4.72410

That's fucking hilarious. Bitcoin is wildly varying by an entire dollar.

It's nice to see things back to normal.

[Crypt_Current]

If the swings are going to be THIS wild from now on, i'd better just stick with trading on the exchanges... Bitcoinica is not fast enough to keep up with this

[cypherdoc]

If the swings are going to be THIS wild from now on, i'd better just stick with trading on the exchanges... Bitcoinica is not fast enough to keep up with this

+1

[waspoza]

Yeah, and mtgox live socked died. Why im not suprised...

[Tronlet]

Well, yeah, if you call growing steadily from 4.95 to 5.2 (with a brief dip early on to 4.72), and then surging up in the past few minutes to 5.7, then dropping back down in the past minute "wildly varying by an entire dollar" then sure, it's doing that. Such minute-long spikes in both directions happen from time to time, the price is back to what it was ten minutes ago.

[proudhon]

If the swings are going to be THIS wild from now on, i'd better just stick with trading on the exchanges... Bitcoinica is not fast enough to keep up with this

This is a big reason why I've decided to stay away from Bitcoinica.

[Crypt_Current]

Yeah, and mtgox live socked died. Why im not suprised...

props to what's his face that made btccharts.com ... it is very resilient.  i have been using it all day and made a bit of profit just going by it alone.

[Mousepotato]

Everybody said "yeah Mouse, get the Dell IPS monitor, it's great!"  Freakin thing must be bugging out on me because it just said $5.70 on Allchains.

[Sitarow]

The lows have been tested.

it seems that we have some interesting times ahead.

[Matthew N. Wright]

Well, yeah, if you call growing steadily from 4.95 to 5.2 (with a brief dip early on to 4.72), and then surging up in the past few minutes to 5.7, then dropping back down in the past minute "wildly varying by an entire dollar" then sure, it's doing that.

Yes. That is wildly varying by an entire dollar. Thank you for confirming.  

[proudhon]

As usual these buys do not apear to be reallocations of standing bid orders.

[ineededausername]

breakout coming earlier than expected. 

[proudhon]

Hmm, we might see $10 bitcoins in 2012.

[Matthew N. Wright]

Hmm, we might see $10 bitcoins in 2012.

I'll sell you a few for $10 right now.

[ineededausername]

Hmm, we might see $10 bitcoins in 2012.

proudhon is coming around!

[Tronlet]

Well, yeah, if you call growing steadily from 4.95 to 5.2 (with a brief dip early on to 4.72), and then surging up in the past few minutes to 5.7, then dropping back down in the past minute "wildly varying by an entire dollar" then sure, it's doing that.

Yes. That is wildly varying by an entire dollar. Thank you for confirming.  

Ok, sure, I just don't think going only up, not down, and having most of the spread be due to short blips counts as "wild variance". Subjectivism, I suppose.

[Crypt_Current]

Hmm, we might see $10 bitcoins in 2012.

In 2012, cheeseburgers eat people!

[SaintFlow]

wow wtf u are doing dear speculators 

buying ALL the bitcoins

[Crypt_Current]

I'd be willing to bet that this recent wild swing is the doings of bitcoinica replenishing reserves...

... any takers?  2 BTC bet?

[teflone]

In soviet russia, car drives you!

[RandyMarsh]

Hmm, we might see $10 bitcoins in 2012.

In 2012, cheeseburgers eat people!

In 2012, Russia is a lovely place where everything is normal.

[waspoza]

Hmm, we might see $10 bitcoins in 2012.

In 2012, cheeseburgers eat people!

In 2012, Russia is a lovely place where everything is normal.

Except maybe 140% of total votes.

[SaintFlow]

just remember - the coins are being bought with fiat
remember - the coins are being bought with fiat
the coins are being bought with fiat
coins are being bought with fiat
are being bought with fiat
being bought with fiat
bought with fiat
with fiat
fiat

[Serge]

just remember - the coins are being bought with fiat
remember - the coins are being bought with fiat
the coins are being bought with fiat
coins are being bought with fiat
are being bought with fiat
being bought with fiat
bought with fiat
with fiat
fiat

yes, in bitcoins we trust

[cypherdoc]

I'd be willing to bet that this recent wild swing is the doings of bitcoinica replenishing reserves...

... any takers?  2 BTC bet?

from where?  but point well taken.  with a surging mkt and a Bullseye event, no one trades as everyone goes long.  so how would they make money on fees?

they'd need to access more USD's or fiat from somewhere to let the longs buy as well as the shorts.

[Hawkix]

Damn, where to look at asks&bids? Everything is down now.

BitcoinCharts are frozen few hours ago. MtGoxLive does not show its page at all. Clark's page does not show trades.

That stupid MtGox own graph does not show latest values neither.

So much to watch now .. but where?

[echowhiskey]

https://i.imgur.com/He1hO.png

[bitcoinBull]

In bitcoinica's defense, it seems to be able to track the mtgox price when none of the other tickers can.

[Tronlet]

Damn, where to look at asks&bids? Everything is down now.

BitcoinCharts are frozen few hours ago. MtGoxLive does not show its page at all. Clark's page does not show trades.

That stupid MtGox own graph does not show latest values neither.

So much to watch now .. but where?

This is what I'm using, it's pretty simple but it's something. http://www.livebitcointicker.com/?exch=mtgox&rr=15&pl=90

[cypherdoc]

THEY are trying to hide the Bitcoin price from you so you get left behind...

[bitcoinBull]

Even if you're bearish, I don't know why you would sell immediately after a run like that.

I agree, that's weird.  Sometimes when there's a big buy, a bot will do an equally big sell immediately after.  I don't understand that strategy.

This time the sell was relatively puny (~2600 btc sold after ~20k btc bought), and it was minutes afterward, so probably not a bot.

[12:43] <bitcoinRT> Jan04 17:39:35 | Bid: 5.29     | Ask: 5.321    | Last: 5.32098  | Volume: 108690
[12:45] <bitcoinRT> Jan04 17:41:11 | Bid: 5.33847  | Ask: 5.7      | Last: 5.69619  | Volume: 125090
[12:46] <bitcoinRT> Jan04 17:42:43 | Bid: 5.6972   | Ask: 5.7      | Last: 5.7      | Volume: 127795
[12:49] <bitcoinRT> Jan04 17:45:47 | Bid: 5.39216  | Ask: 5.39327  | Last: 5.39664  | Volume: 130249
[12:51] <bitcoinRT> Jan04 17:47:20 | Bid: 5.39077  | Ask: 5.39327  | Last: 5.23     | Volume: 130462
[12:52] <bitcoinRT> Jan04 17:48:52 | Bid: 5.35035  | Ask: 5.39327  | Last: 5.39327  | Volume: 130700

[Hawkix]

I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....

[Bigpiggy01]

I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....

It's more likely someone with a stupendously large bitcoinica position trying to guard it by attempting to take advantage of Zhoutong's new algorithm and it's new "no spike liquidation" feature so they can push things down and in that way avoid being Zhoutonged at least in the short term 

[RandyFolds]

Anyone pondered the whole 'Iran's currency dropping 30% in value in a week' as a possible driving force for this spike? Iran only allows citizens to convert $2000USD in foreign currency at standard rate and people are hustling for a store of value/conduit to a different store of value.

[anu]

Anyone pondered the whole 'Iran's currency dropping 30% in value in a week' as a possible driving force for this spike? Iran only allows citizens to convert $2000USD in foreign currency at standard rate and people are hustling for a store of value/conduit to a different store of value.

But how do you convert Iranian Rial to Bitcoin without going through USD/EUR/GBP... first?

[echowhiskey]

You buy video cards?

[RandyFolds]

Anyone pondered the whole 'Iran's currency dropping 30% in value in a week' as a possible driving force for this spike? Iran only allows citizens to convert $2000USD in foreign currency at standard rate and people are hustling for a store of value/conduit to a different store of value.

But how do you convert Iranian Rial to Bitcoin without going through USD/EUR/GBP... first?

Is there really no way to get rial into the system? International wire transfers? Why are there so many currencies listed on bitcoinwatch if no one accepts their deposit? Their limit is in converting to cash.

[cypherdoc]

You buy video cards?

LOL!

[Serge]

gentlemen on thUSD the party seams to be over, the bear killed the music band and 1btc is 5,349

i can sell you cheap one just for $5,000.00   due to volatility offer expires in 30minutes

[dree12]

gentlemen on thUSD the party seams to be over, the bear killed the music band and 1btc is 5,349

i can sell you cheap one just for $5,000.00   due to volatility offer expires in 30minutes

,=. outside USA

In fact, "." is used primarily in three continents: North America, Asia, and Austrailia. "," is used primarily in only 2: Europe and South America. This wikipedia section details this in more detail.

[Otoh]

UK, is totally .

[bitcoinBull]

Even if you're bearish, I don't know why you would sell immediately after a run like that.

I agree, that's weird.  Sometimes when there's a big buy, a bot will do an equally big sell immediately after.  I don't understand that strategy.

This time the sell was relatively puny (~2600 btc sold after ~20k btc bought), and it was minutes afterward, so probably not a bot.

[12:43] <bitcoinRT> Jan04 17:39:35 | Bid: 5.29     | Ask: 5.321    | Last: 5.32098  | Volume: 108690
[12:45] <bitcoinRT> Jan04 17:41:11 | Bid: 5.33847  | Ask: 5.7      | Last: 5.69619  | Volume: 125090
[12:46] <bitcoinRT> Jan04 17:42:43 | Bid: 5.6972   | Ask: 5.7      | Last: 5.7      | Volume: 127795
[12:49] <bitcoinRT> Jan04 17:45:47 | Bid: 5.39216  | Ask: 5.39327  | Last: 5.39664  | Volume: 130249
[12:51] <bitcoinRT> Jan04 17:47:20 | Bid: 5.39077  | Ask: 5.39327  | Last: 5.23     | Volume: 130462
[12:52] <bitcoinRT> Jan04 17:48:52 | Bid: 5.35035  | Ask: 5.39327  | Last: 5.39327  | Volume: 130700

I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....

*Eureka*.  Just realized that these are bitcoinica stop or trailing stop orders placed to sell at a higher price.  Stop orders become market orders when a target price is breached, so they just get dumped onto the thin bid depth after the upward spike.

These sellers should use limit orders instead, or (if bitcoinica offered them) stop-limit orders.

[Sitarow]

Even if you're bearish, I don't know why you would sell immediately after a run like that.

I agree, that's weird.  Sometimes when there's a big buy, a bot will do an equally big sell immediately after.  I don't understand that strategy.

This time the sell was relatively puny (~2600 btc sold after ~20k btc bought), and it was minutes afterward, so probably not a bot.

[12:43] <bitcoinRT> Jan04 17:39:35 | Bid: 5.29     | Ask: 5.321    | Last: 5.32098  | Volume: 108690
[12:45] <bitcoinRT> Jan04 17:41:11 | Bid: 5.33847  | Ask: 5.7      | Last: 5.69619  | Volume: 125090
[12:46] <bitcoinRT> Jan04 17:42:43 | Bid: 5.6972   | Ask: 5.7      | Last: 5.7      | Volume: 127795
[12:49] <bitcoinRT> Jan04 17:45:47 | Bid: 5.39216  | Ask: 5.39327  | Last: 5.39664  | Volume: 130249
[12:51] <bitcoinRT> Jan04 17:47:20 | Bid: 5.39077  | Ask: 5.39327  | Last: 5.23     | Volume: 130462
[12:52] <bitcoinRT> Jan04 17:48:52 | Bid: 5.35035  | Ask: 5.39327  | Last: 5.39327  | Volume: 130700

I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....

*Eureka*.  Just realized that these are bitcoinica stop or trailing stop orders placed to sell at a higher price.  Stop orders become market orders when a target price is breached, so they just get dumped onto the thin bid depth after the upward spike.

These sellers should use limit orders instead, or (if bitcoinica offered them) stop-limit orders.

Shh... its a secret.

[proudhon]

Damn.