FUCK THIS

[RyNinDaCleM]

I'm pissed since I have had a buy order "in queue" for ten minutes already!  

Edit: About 12 minutes to change to "active". Thanks Gox!!! 

[simonk83]

Bitcoinica's a massive pain in the arse.  I'd much rather it didn't exist.

[SlaveInDebt]

And we are back 
I love Bitcoin so much 

[piramida]

All the care in the world is not going to stop someone from flinging a huge sell or buy and send the
market in an instant $2.00 spike.

Yeah right but unless you play with borrowed money, you should be only grateful when that happens - it's just a good opportunity to buy or sell at the artificial level.

[StewartJ]

It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week.

I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out.

*thumb_up*

+1

[SkRRJyTC]

Lets all remember to be pissed of at MtGox for their terrible API/sockets too!

[cypherdoc]

LOL!

$1.30 spread on Bitcoinica?

[proudhon]

Lets all remember to be pissed of at MtGox for their terrible API/sockets too!

One is clearly more devious than the other.

[Savior]

Lets all remember to be pissed of at MtGox for their terrible API/sockets too!

Yes!! I hate just having to guess the price, and not see the trade go thru for like 5 minutes, still made alot of bitcoin tonight thought, full in bitcoin now.

[StewartJ]

All the care in the world is not going to stop someone from flinging a huge sell or buy and send the
market in an instant $2.00 spike.

Yeah right but unless you play with borrowed money, you should be only grateful when that happens - it's just a good opportunity to buy or sell at the artificial level.

Never borrow money, do it the old fashioned way here. Averse to margin and Bitcoinica style of trading.

[tripper22]

The price action is fucking crazy!

[arepo]

I'm pissed since I have had a buy order "in queue" for ten minutes already!  

Edit: About 12 minutes to change to "active". Thanks Gox!!! 

+1,000,000

me too. mtgox is a ridiculously shitty service for the money they're taking from me

[dryden]

so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours.  Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right?  Would it even make sense for Z to do this?  Financially?  Or are there old miners left hoarding their 400,000 BTC stashes?  Or was it a coordinated panic?  What d'you guys think?

[teflone]

so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours.  Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right?  Would it even make sense for Z to do this?  Financially?  Or are there old miners left hoarding their 400,000 BTC stashes?  Or was it a coordinated panic?  What d'you guys think?

How is tripping the liquidate levels for tons of people Bad for Zhou ? 

[StewartJ]

The price action is fucking crazy!

It's $5.50, then $6.19, then $5.05...spike city!

[Serge]

so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours.  Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right?  Would it even make sense for Z to do this?  Financially?  Or are there old miners left hoarding their 400,000 BTC stashes?  Or was it a coordinated panic?  What d'you guys think?

everything at once +heavy whale manipulator

[piramida]

Or are there old miners left hoarding their 400,000 BTC stashes?  Or was it a coordinated panic?  What d'you guys think?

Looks like somebody did sell through 6.20 support and most recent longs at 1:10 ratio were started from around that level. So Z did what he needed to once the price broke 6.2 - sold all the poor soul's leveraged BTCs to cover losses, and that sparkled a chain reaction.

[tripper22]

so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours.  Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right?  Would it even make sense for Z to do this?  Financially?  Or are there old miners left hoarding their 400,000 BTC stashes?  Or was it a coordinated panic?  What d'you guys think?

How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again).

[teflone]

Everyone is in denial...


Zhoutounged!!!!!!!!!!!!!!!!

[proudhon]

so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours.  Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right?  Would it even make sense for Z to do this?  Financially?  Or are there old miners left hoarding their 400,000 BTC stashes?  Or was it a coordinated panic?  What d'you guys think?

How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again).

And here we are back to the criticism I've been leveling since June 2011.