ManBearPig
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April 14, 2013, 09:46:57 AM |
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I'm still amazed that people are falling for it though I am glad of the cheap coins on the way down.
It's very predictable if you watch it and has the secondary effect of suppressing sudden price spikes.
Maybe it's a Force for Good in disguise? :p
I don't mind getting some extra coins off it There's still people claiming the lag is propping up the price though; I don't understand it. Every sell off has shown the opposite. It's interesting. There is the immediate panic-selling and the predictable pattern of decline based on a few periods of oblivion the exact size of the lag. Now people are beginning to expect it I think it might suppress the price, working AGAINST whoever's orchestrating this. I still can't believe this an emergent problem of Mt Gox's software. As a people-watcher, I find it a fascinating lesson in mass psychology though!
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ElectricMucus
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April 14, 2013, 09:49:09 AM |
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nice triangle: bitcoin likes triangles "bullish wedge" actually or whatever it's called I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike. Meanwhile on mtgox the price broke through at the lower end.... with zero lag.
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just1nmc
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April 14, 2013, 09:54:12 AM |
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nice triangle: bitcoin likes triangles "bullish wedge" actually or whatever it's called I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike. Meanwhile on mtgox the price broke through at the lower end.... with zero lag. Someone decided to sell a few thousand coins at $100, and the price stopped there because there wasn't lag to provoke more selling.
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ElectricMucus
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April 14, 2013, 09:57:23 AM |
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nice triangle: bitcoin likes triangles "bullish wedge" actually or whatever it's called I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike. Meanwhile on mtgox the price broke through at the lower end.... with zero lag. Someone decided to sell a few thousand coins at $100, and the price stopped there because there wasn't lag to provoke more selling. Still we broke the triangle. You can't have it both ways. It could have been "someone buying a few thousand at 140" but it wasn't. Either accept the market for what it is including all participants or leave TA alone.
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molecular
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April 14, 2013, 10:03:08 AM |
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nice triangle: bitcoin likes triangles "bullish wedge" actually or whatever it's called I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike. True. The triangle didn't deliver although it was broken to the upside substantially. EDIT:
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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just1nmc
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April 14, 2013, 10:04:16 AM |
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Still we broke the triangle. You can't have it both ways. It could have been "someone buying a few thousand at 140" but it wasn't. Either accept the market for what it is including all participants or leave TA alone.
I never said anything about the triangle though, nor have I ever used TA on here. I'm only arguing that the lag takes a normal sell off, and makes it much worse due to panic.
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ManBearPig
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April 14, 2013, 10:05:11 AM |
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The previous lag-induced, panic-driven sell-off started just below $115 and hit a low of around $87 (thank you for whoever sold to me at that price). Once I've had my morning cuppa I might try to predict the next one - are you reading this DDoSers? Edit: today I'm going to use a spare machine to screen-cap Bitcoinity ALL DAY, we'll have a second-by-second record of the lag then. No, I don't have a life, nor right now. Not yet :p
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Monarch
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April 14, 2013, 10:10:50 AM |
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This is my one and only post here. So read it carefully and think about it.
Dear Bitcoiners. I want to share some insights with you. Recently, we were under serious DDoS attacks and spamming trading-bots attacks as you could see.
Don't you ever think, that these are for our own good? WHAT IF that attacks are placed here from creators of Bitcoin, because they want to show you the biggest flaws in the whole project? Exchanges? Yes. The main weakness of the Bitcoin project are the exchanges, and specifically MtGox. Ask yourself. Are we ready for mainstream? Are we really ready for taking over 1% of worldwide online transactions market cap without bulletproof trading engine?
The project Bitcoin is strong & one-of-the-kind, the planet need it. People need it. We need it. Bitcoin is here for us. It's no doubt that we'll grow big. Protocol is solid rock and community is full of smart people who are thinking outside the box.
But for going mainstream, we need decent trading platform. We must be ready for real attacks from outside of our community. From people with unlimited resources. You know who I am talking about, this is not a game. The world is full of groups who are holding chains and simply don't like this idea.
Please, if anyone competent is reading this message. Dotcom? Here's your chance. We need trading platform, its up to you now.
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The-Real-Link
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April 14, 2013, 10:20:03 AM |
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Been watching the charts earlier and there was a 4.5K ask wall at $100. But then someone did a 1,114 coin sell, and quite a few 200-500 coin sells past that. Surprisingly, the wall didn't last that long.
But again, it's a weekend and price has been up and down all day today / tonight. I would imagine we'd be in cautiously-optimistic rally mode next week.
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Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits
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ManBearPig
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April 14, 2013, 10:21:57 AM |
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Ask walls building at $100 and above, Bids down across the board at $80+ prices.
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just1nmc
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April 14, 2013, 10:23:51 AM |
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Been watching the charts earlier and there was a 4.5K ask wall at $100. But then someone did a 1,114 coin sell, and quite a few 200-500 coin sells past that. Surprisingly, the wall didn't last that long.
But again, it's a weekend and price has been up and down all day today / tonight. I would imagine we'd be in cautiously-optimistic rally mode next week.
It's so hard to tell, I can't stop watching haha. I said a few days ago that I'd be happy with anything $90+ coming out of the weekend. I'm surprised the price has stayed in triple digits as much as it has. But you never know when another sell-off could start.
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MikeH
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April 14, 2013, 10:30:37 AM |
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this is mad - everyone's gambling they can sell and re-buy for $10+ less - sooner or later it's gonna bite you in the butt.
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elux
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April 14, 2013, 10:38:33 AM |
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ManBearPig
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April 14, 2013, 10:47:29 AM |
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this is mad - everyone's gambling they can sell and re-buy for $10+ less - sooner or later it's gonna bite you in the butt.
I was bitten in the butt by not selling in the $200s! Fortunately my butt's healing with all the new coins I'm sitting on :p
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molecular
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April 14, 2013, 10:48:48 AM |
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This is my one and only post here. So read it carefully and think about it.
Dear Bitcoiners. I want to share some insights with you. Recently, we were under serious DDoS attacks and spamming trading-bots attacks as you could see.
Don't you ever think, that these are for our own good? WHAT IF that attacks are placed here from creators of Bitcoin, because they want to show you the biggest flaws in the whole project? Exchanges? Yes. The main weakness of the Bitcoin project are the exchanges, and specifically MtGox. Ask yourself. Are we ready for mainstream? Are we really ready for taking over 1% of worldwide online transactions market cap without bulletproof trading engine?
The project Bitcoin is strong & one-of-the-kind, the planet need it. People need it. We need it. Bitcoin is here for us. It's no doubt that we'll grow big. Protocol is solid rock and community is full of smart people who are thinking outside the box.
But for going mainstream, we need decent trading platform. We must be ready for real attacks from outside of our community. From people with unlimited resources. You know who I am talking about, this is not a game. The world is full of groups who are holding chains and simply don't like this idea.
Please, if anyone competent is reading this message. Dotcom? Here's your chance. We need trading platform, its up to you now.
My favorite trading platform is that one cafe in my town that has wifi. It also has coffee, beer and at least two bitcoin enthusiasts. Maybe I should open a cafe, accept bitcoin and morph it into a traditional trading floor. Back to the roots!
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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molecular
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April 14, 2013, 10:50:53 AM |
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this is mad - everyone's gambling they can sell and re-buy for $10+ less - sooner or later it's gonna bite you in the butt.
oh yeah, you better make enough money now to be able to buy back in / sell back out on rally/crash and still have made a profit. Risk / reward.
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rpietila
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April 14, 2013, 10:54:41 AM |
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My favorite trading platform is that one cafe in my town that has wifi. It also has coffee, beer and at least two bitcoin enthusiasts.
Maybe I should open a cafe, accept bitcoin and morph it into a traditional trading floor. Back to the roots!
Please do. My favorite trading platform is my private-club-cum-office in my town. It also has coffee, white wine, all cutlery made of silver, and biweekly meetings of the Finnish bitcoin elite. I am running a daily volume that was only exceeded by Mt.Gox well into the 2011
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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hannesnaude
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April 14, 2013, 11:05:07 AM |
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Two things. I went to bed last night shortly after the weird low trading levels lag on mtgox started. As expected I woke up this morning to see a moderate dip and recovery. I don't feel like trawling through pages and pages of this thread, but from what little I've checked I deduced that we had (several?) market cooldowns during the past 24h. Have we heard any explanation from gox? Anything else I missed? Secondly, take a look at this graph. http://www.google.com/trends/explore#q=%22buy%20bitcoins%22%2C%20%22buy%20bitcoin%22&date=today%203-m&cmpt=qThe queries for both "buy bitcoin" and "buy bitcoins" peaked on Thursday the 11th, the day after the crash. The volume was also high on the day of the crash, but it is difficult to tell how many of these queries were from people who had not yet heard about the crash. These two days saw an almost 40% higher query volume than the previous peak on April the 3rd. This suggests that the anecdotes we've had on here about people who previously thought they had missed the boat rushing to get in after the crash are not isolated incidents. I expect we'll be seeing record levels of fiat on the order book in the next week.
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jl2012
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April 14, 2013, 11:16:24 AM |
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I expect we'll be seeing record levels of fiat on the order book in the next week.
If gox does not fuck it up again
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samson
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April 14, 2013, 11:17:30 AM |
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I expect we'll be seeing record levels of fiat on the order book in the next week.
If gox does not fuck it up again I'm sure they will, however there will still be records level of fiat on the orderbook.
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