Notice how BTC value is rising, since Bitcoinica is gone?

[David_Benz]

Title.

Discuss.

Bitcoinica and everyone that has to do with them are BAD for BTC.  Kronos is the next BTC killer. 

DO NOT SUPPORT INTERSANGO, KRONOS, BITCOINICA OR ANY OF THAT BULLSHIT!!!!!

Unless you do not like seeing BTC value rise.

[Serge]

with enough demand none of leverages in opposite direction would be able to hold market down for long, in other words it wouldn't matter

[realnowhereman]

If it really is cause and effect (I don't think it is) then that would make the current increase a bubble.

How would that be good?

[vssa]

watch my technical analysis for the bitcoin price:http://www.btcwallet.org/category/bitcoin-market-technical-analysis/

[bracek]

even hackers are bullish

they are not selling (yet)

[jackmaninov]

even hackers are bullish

they are not selling (yet)

Probably the best vote of confidence out there.

[phorensic]

I do think it is because of Bitcoinica and I'm loving it.

[austonst]

I think that putting this on lack of shorting is not accurate. Lack of leverage is a two way street. It does affect how the market works but my feel of the market has been such that it has been artificially kept down for months. Now the manipulator has ran out of methods. It can go either way anyway, in December it was a leverage rally that put us to over $7. For the last months it has been (in my opinion) manipulated stability mostly with the help of shorting.

Fact is that with the exception of the Bitcoinica disaster (which to be honest wasn't the first time and because of that caused only minor damage to Bitcoin) we have had great news recently. Great developments, more usage, lots of epicness in general. Everything is up. Tx counts (minus top 100 addresses which eliminates the SatoshiDice effect) are way up, USD volume in transactions is way up. Price is obviously up. Market sentiment is ripe for a rally, which is most important.

The lack of Bitcoinica means that we have a market that works a bit differently but it's most definitely not the cause of the rally. The whole argument is absolutely funny. Where was the shorting in December when we had a maniac leverage rally? Now we have no shorting, that's true, but we don't have leveraged longs either. It's real and it's here.

[teflone]

I also think its because the ability to short is drastically reduced..

Happy bitconica is gone..

[BadBear]

Is it still going to be Bitcoinica's fault on the next leg down?

[waveaddict]

no shorting = no short squeezing.

Remember, bitcoinica was in existence during the rally from $2 to $7.2.

The high leverage was probably harmful, but I would say that the ability to short was one of the most important and productive additions for bitcoin; it allowed efficient price discovery. This is the very reason why regulators have and will continue to allow shorting in larger markets even though short sellers get demonized from time to time.  

[Stephen Gornick]

Without shorts covering on a selloff, the selloff intensifies.

[gorgo1]

I do think it is because of Bitcoinica and I'm loving it.

I'm sort of glad that bitcoinica is gone as I've heard that they were nothing but trouble.To stay on topic,I like these latest value rises for bitcoin.This would help the economy

[teflone]

I just want companies that know how to secure their bloody bitcoins..

Confidence in bitcoin is key..

Screw bitcoinica.. they deserve to get hacked if they cant keep it sealed up..

[SkRRJyTC]

they deserve to get hacked if they cant keep it sealed up..

Yup

[disclaimer201]

Bitcoinica/Intersango are totally unable to commuicate even the most basic information to their customers. People are threatening them with criminal complaints now because of it. Well, if I were responsible for hundreds of thousands of customers' deposits I'd probably also just sit there and do nothing for 4 weeks. Don't give updates to worried customers, if at all - only on a message board. Drink some tea. Watch the price grow. Do some gardening. Let people start speculating if they ever see their money again.

At least S3052's prediction on higher volatility will be correct now.

[waveaddict]

Without shorts covering on a selloff, the selloff intensifies.

exactly

[N12]

But in turn, without shorts, a rally can extend further.

[shockD]

Pure speculation here, of course, but it would also make sense that being required to submit identification to Mtgox in order to withdraw funds via dwolla has resulted in fewer sellers/sellers wanting to sell for a bit more due to the extra annoyance and potential security issues involved with sending scans of their ID to Mtgox.

I know I've stopped selling there as I'm not comfortable submitting scans of my identification to Mtgox.

[alan2here]

I'm not sure how many people are trolling here. Or if thats what this whole thread is.