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Author Topic: With bitcoinica down what will happen during this weekend?  (Read 1358 times)
ElectricMucus
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May 12, 2012, 12:24:29 PM
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Will we be stable because no more leverage is available?

Will we crash due to fear that the credit cannot be refunded?
Well we rally because people actually buy bitcoins instead of blowing them on bitcoinica?

Questions over questions...


So far it seems that we are pretty stable.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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May 12, 2012, 12:57:48 PM
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I say Bears will experience an unpleasant surprise.


"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 12, 2012, 01:01:13 PM
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once people who have their funds tied on Bitcoinica get a hold of them, i'm expecting to see greater volatility while Bitcoinica will be closed for redevelopment
Raoul Duke
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May 12, 2012, 01:23:11 PM
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With Bitcoinica down people will just gamble in the casinos, like they should.

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May 12, 2012, 01:28:09 PM
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What we know is that zhoutong has announced he will be buying 18.5k BTC. So I expect someone will ramp up the price and force them to buy back at a nice premium while selling to them at a profit.

Another factor is that the hackers are in posession of the Bitcoinica database with everyone’s present and past positions. Perhaps they will try and inflict the maximum pain upon the collective Bitcoinica gambler positions.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
ElectricMucus
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May 12, 2012, 02:48:57 PM
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What we know is that zhoutong has announced he will be buying 18.5k BTC. So I expect someone will ramp up the price and force them to buy back at a nice premium while selling to them at a profit.

Another factor is that the hackers are in posession of the Bitcoinica database with everyone’s present and past positions. Perhaps they will try and inflict the maximum pain upon the collective Bitcoinica gambler positions.

That would require that someone affiliated with the hackers has the USD to to this. If not it might have the opposite effect (they, cashing out)
But it's all very far fetched, we just don't know so far.

And historically ( LOL! ) the psychological effect is larger, whatever that is.
I guess we have to wait for the reaction of the press, this should be bound to be mentioned somewhere.

well:
http://arstechnica.com/uncategorized/2012/05/bitcoins-worth-87000-plundered/
http://news.softpedia.com/news/Bitcoinica-Taken-Offline-More-Than-18-000-Bitcoins-Stolen-269192.shtml

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May 12, 2012, 03:08:07 PM
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Will we be stable because no more leverage is available?

Will we crash due to fear that the credit cannot be refunded?
Well we rally because people actually buy bitcoins instead of blowing them on bitcoinica?

Questions over questions...


So far it seems that we are pretty stable.

How about this: Nothing happens..?  Tongue
ElectricMucus
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May 12, 2012, 03:13:44 PM
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Something always happens Wink
You mena stable?

I think I enumerated the possible outcomes. You can say what happens is not because of the bitcoinca hack and sequential shutdown but some people will interpret it that way regardless.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
BadBear
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May 12, 2012, 04:28:13 PM
 #9

Well bitcoinica is down anyway, so they will take everyones bitcoins, sell them, and then rebuy at a lower price run for the hills.  

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May 12, 2012, 04:34:15 PM
 #10

Well bitcoinica is down anyway, so they will take everyones bitcoins, sell them, and then rebuy at a lower price run for the hills.  
You think? My opinion is that the Intersango guys will make everyone whole once again, but Bitcoinica will probably die.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
BadBear
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May 12, 2012, 04:41:09 PM
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Nah they are pretty stand up guys, they'll do the right thing.

Bitcoinica does need to step it up though, they've had big success but that just makes them a bigger target.

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Raoul Duke
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May 12, 2012, 04:41:52 PM
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Nah they are pretty stand up guys, they'll do the right thing.

Bitcoinica does need to step it up though, they've had big success but that just makes them a bigger target.

By the looks of it they're steping it down, not up Wink

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May 12, 2012, 05:45:01 PM
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Damn it, this sideways movement is driving me crazy. Even bitcoinica fail cannot change this...  Angry
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May 12, 2012, 05:48:00 PM
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Damn it, this sideways movement is driving me crazy. Even bitcoinica fail cannot change this...  Angry

This is quite normal... the moment most people give up, the moment the train starts leaving the station.


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BadBear
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May 12, 2012, 05:50:48 PM
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Damn it, this sideways movement is driving me crazy. Even bitcoinica fail cannot change this...  Angry

That just means you haven't bought enough.

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May 13, 2012, 01:24:47 AM
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Damn it, this sideways movement is driving me crazy. Even bitcoinica fail cannot change this...  Angry

This is quite normal... the moment most people give up, the moment the train starts leaving the station.



Protip:  He just told his subscribers to sell.
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May 13, 2012, 01:28:17 AM
 #17

Damn it, this sideways movement is driving me crazy. Even bitcoinica fail cannot change this...  Angry

This is quite normal... the moment most people give up, the moment the train starts leaving the station.



Protip:  He just told his subscribers to sell.

Sell sell sell!

Cheesy   please...

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