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Terpie (OP)
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May 10, 2011, 03:35:23 AM |
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What the hell just happened?
Edit: Did someone just push a $50k order at once?
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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MemoryDealers
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Activity: 1052
Merit: 1105
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May 10, 2011, 03:42:43 AM |
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Thats what it looks like.
Maybe a drug king pin decided to start using bitcoin.
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kiba
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Activity: 980
Merit: 1014
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May 10, 2011, 03:47:19 AM |
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Going to be a crazy bounce.
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SgtSpike
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Activity: 1400
Merit: 1005
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May 10, 2011, 03:50:37 AM |
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Huh.
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Terpie (OP)
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May 10, 2011, 03:54:59 AM |
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Something doesn't seem right. Someone with $50k to invest is probably smart enough to realize they could have slowly bought over 2-3 days at a much lower cost-average than a single market price order. Perhaps they wanted to break the technical boundary and send a signal to the market? This is very bullish, imo.
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MemoryDealers
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Activity: 1052
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May 10, 2011, 03:56:28 AM |
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Something doesn't seem right. Someone with $50k to invest is probably smart enough to realize they could have slowly bought over 2-3 days at a much lower cost-average than a single market price order. Perhaps they wanted to break the technical boundary and send a signal to the market? This is very bullish, imo.
Maybe they have a lot more than $50K that they intend to invest. This could be the signal to attract other sellers into the market so they can buy a lot more. |
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Terpie (OP)
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May 10, 2011, 03:56:33 AM |
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Haha, funny thought. Maybe they ARE dollar cost-averaging.
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Terpie (OP)
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May 10, 2011, 03:57:11 AM |
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Something doesn't seem right. Someone with $50k to invest is probably smart enough to realize they could have slowly bought over 2-3 days at a much lower cost-average than a single market price order. Perhaps they wanted to break the technical boundary and send a signal to the market? This is very bullish, imo.
Maybe they have a lot more than $50K that they intend to invest. This could be the signal to attract other sellers into the market so they can buy a lot more. Yea, that's a scary (in a good way) thought I just had as well. |
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Alex Beckenham
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May 10, 2011, 04:02:51 AM |
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Someone with $50k to invest is probably smart enough to realize they could have slowly bought over 2-3 days at a much lower cost-average than a single market price order.
Someone with $50k to invest still has to wonder whether someone with $51k is going to get in before them and push the price up. So getting the coins NOW might be important to them for that reason. |
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proudhon
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Activity: 2198
Merit: 1311
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May 10, 2011, 04:03:40 AM |
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What the hell just happened?
Edit: Did someone just push a $50k order at once?
I just got home from work and pulled up bitcoincharts and then, WTF! |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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bitjet
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May 10, 2011, 04:03:56 AM |
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I just saw this about a second ago and yelled "Jesus christ!" and woke my wife up. lol.
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proudhon
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Activity: 2198
Merit: 1311
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May 10, 2011, 04:04:46 AM |
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I just saw this about a second ago and yelled "Jesus christ!" and woke my wife up. lol.
And, seriously, where did all this new hashing power come from? Something's fishy. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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dingus
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May 10, 2011, 04:05:26 AM |
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I remember the day we creamed our collective pants about $1 parity  |
ding·us/ˈdiNGgəs/
Noun: Used to refer to something whose name the speaker cannot remember, is unsure of, or is humorously or euphemistically omitting
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kiba
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Activity: 980
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May 10, 2011, 04:05:34 AM |
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And, seriously, where did all this new hashing power come from? Something's fishy.
Buying AMD's GPUs? |
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kiba
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Activity: 980
Merit: 1014
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May 10, 2011, 04:07:57 AM |
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All that while the price of my bitcoin ads remain the same, at least for time being. In fact, I think the price of my ads went up or stay stable.  Yeah. baby! Bring in the dough! |
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marcus_of_augustus
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Activity: 3920
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Eadem mutata resurgo
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May 10, 2011, 04:09:04 AM |
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Yep, cleaned out all the sells all the way up to $5 ... gonna be a $5 plus weekend, .. probably $7.50 is next place for a pause cause there ain't much on the sell side at the moment.
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MemoryDealers
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Activity: 1052
Merit: 1105
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May 10, 2011, 04:11:11 AM |
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All that while the price of my bitcoin ads remain the same, at least for time being. In fact, I think the price of my ads went up or stay stable. What ads are these? |
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stic.man
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May 10, 2011, 04:13:23 AM |
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It would be great if this was a few individuals making large purchases as opposed to one guy. Maybe the print media just hit
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