I swear my theory is they match off the best ones for themselves and slow down the queue. Thats what I suspected in April, best way to obsfiscate it is with lag.

Goxxed again, classic.

Yes, lucky that. Someone sold about 8000 BTC down to $344 then bought the price right back up to $368 by purchasing a few hundred off the market.

I wonder if they're now waiting for suckers to place bids before dumping again.

It's pure manipulation. Read the forum history, there's a lot to read but you can pinpoint certain people on this forum who pop up just before ATH's and pump the price to the max then dump relentlessly. Then patiently wait to do it again.

Well that was weird. Looks like it was a one-hit-wonder by the bears, though, we're on our way back up again.

I'd say he timed it right if he sold and is looking for cheap coins.

Inspiring anyone to sell like crazy is done to buy much cheaper.

*just got back home.


OMG i want to buy so badly and i place bids but they only show as pending

anyone know whats up with cavirtex?

ya its like that for everyone.

pending.

hope the fix this like NOW 

cavirtex seems to do good b4 on high volume.

not sure what's up...

The unloading phase is done in segments. This allows more buyers to enter, giving the market mover a maximally efficient price for his original holdings.

virtex is fixed now yaye

Alright guys, whats your best guess/advice for a noob trying to figure out when to buy in?  Only have $200 in BitStamp...so I'd like to make it worthwhile.  Suggestions?

I guess my question clearly illustrates my emotional need to "buy in" clouding any good judgement.  

Right, that being said, I may as well get to bed...have an early day tomorrow working the 9-5!  Cheers mates and good luck!

GOX has the plunge protection team trying their best to stop the price collapsing

Let me know how you feel when we break back into the 100's

Hope those watching on Gox can see the blatant manipulation attempting to move the price back up.

It's a trap!

I don't know why, until now it's 100% accurate

I am very skeptical of this quick recovery.

On Bitfinex, there is no loan money left, which means every margin trader is currently "in" with BTC purchases. And Bitstamp is still lagging tremendously.

Everyone looks like the are convinced that the correction is over.

Guess we will see.

Panic some more, please. It is so fun to watch


What we are seeing now was not so hard to predict:


BUT

A real crash will have the following characteristic:
- price will have risen really high, really quickly over several weeks
- 100,000s of bitcoins are brought to the market by large manipulators that are sure of their ability to tip it over
- Some bitcoins will be sold to induce the forced closure of leveraged positions, resulting in a flashcrash
- Price will quickly bounce back to almost where it was
- The following day/night lots of bitcoins will be sold to destroy the market sentiment and start a panic
- Exchanges, information services, this forum, etc. will be ddosed, mass media publicity will be enormous and negative
- Price will plummet so that about 3 weeks' gains will be erased (about 75% from the high), although it will remain above the previous ATH (in this case $266) by a clear margin.

I won't go into details why it happens this way, but a big reason is that exchanges utterly lack liquidity and btc/usd-rate is therefore at a mercy of manipulators.

Lets get some terminology settled. A bubble is part of the hype cycle and is applicable here but overall insignificant. When in Bitcoin history it is growing at a steady rate. This growth is exponential and may or may not be a bubble. But the ups and downs are just noise.

What you refer to as a bubble is actually a run on the bank (people panicking looking to withdraw and see what is backing Bitcoin)

Bitcoin has had 7 such runs, 5 significant one's and 2 during run between peeks June 2011 and April 2013. What we can see is Bitcoin is more resilient than both free bank's and those backed by a central bank. (Bitcoin has not gone bankrupt)  

The average time between each run on the "bank" is prolonged by over enthusiasm. (That enthusiasm is existing depositors re-depositing a false feedback loop)

There was a bubble in 2011 as the growth when viewed on the log scale shows. April 2013 is not. It is my opinion, that we should see a growth spurt every 6 months until the next order of magnitude, followed by a bank run from the unfaithful. (The less narcissistic the investment the more sustainable the growth)  -

Typically Adams investing style grows Bitcoin the fastest.

I've long been of the opinion that some of the price disparities between the exchanges are being intentionally exacerbated. I believe there are certain individuals that can profit from this situation.

I could be off my rocker too.

Gox, BTC withdrawals going like clockwork, nothing to see here

That's why Bitcoin is so important. It gives people a chance to retain (or gain) their freedom of economic transaction.

Its rising value is a symptom of people cherishing freedom.

And what's the true value of freedom?

exactly! China does , so if the whole population has its savings etc in bitcoins they can savely dump them whitout
riots , of chineese population
and when done saveley switch to a BTC economy.

as long as they are the first in bitcoin they don't care about fiat , if they can replace it they wil simply do so
they only worry of officials is riots of chineese locals witch will not happen if they can invest in a currency not connected to banks , bitcoin is digital gold , and can and will replace fiat infaltables as dollar and euro.

Looks like someone setup and executed the perfect bear trap on Stamp. Nice.

define

there's never been a bubble, just large holders dumping to accumulate more and scaring people away for a while..

Chinese do give a fuck about the west, below 2700.

You're neglecting opportunity cost.

What if you spend hours per day trading for months, just to end up where you would have been with a buy and hold strategy? What else could you have done with your life during those months?

You are actually serious with this stuff? I mean you actually believe it?

its just a way to make educated guesses based on probabilities. it has to be combined with money management as well to be effective. Is it really that absurd though?
 

Maybe people are starting to believe the exact opposite of what the government is saying.

I made 5btc just now on that correction.

all indicators show true overbought >90 (rsi, stoch, stochrsi, money flow index), bollinger band deviation huge.... this is scary

So is there a live-video-stream or just audio for the hearing today? It is starting in like 40 minutes?
Anyone got the link?
For how long is it scheduled?

LTC is the most elaborate pump and dump scheme ever. Goes up 125% for no reason

this is what we call "VOLUME" guys!!!!

With all these sells there's gonna be a lot of money sitting on the exchanges. I'm think we will bounce back fast at some point.

It's probably a scam, actually.

Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

http://www.reddit.com/r/Bitcoin/comments/1r1gu5/starbucks_to_make_announcement_regarding_bitcoin/

"Leaker" says Starbucks to accept bitcoin by Thanksgiving.

In the middle of setting up a bitcoin bet involving SeansOutpost for escrow. Off the wall claim just got a little interesting...

Who cares about a 10k sell?   One less person with 10k to sell in the future . . .   And that 1.5k wall, you think that is anything?   Did you see the previous 1.5k get munched just after the big sell?   Took less than 5 minutes.   I suppose Stamp having 3 mil more in bids than a few days ago is new money running away . . .   Have you seen how many people in just this forum are screaming about not being able to get money in fast enough?   If I had the coins, I would manipulate this as much as I could too, this is a last stop at these price levels.

There is real volume in China.   The daily trade volume is higher than there would be if there were fees, no doubt.   It is impossible to know how much effect it has overall.   The "fake volume" crowd is just grasping at straws to try and talk the price down.   I hope they keep doing it, we need people to temper the market with FUD or exuberance would run away even worse.  

tl;dr   It would be really stupid to assume there is no demand for BTC in China . . .

I'm not saying the volume is faked, because I really have no idea, but couldn't a big player use the lack of trading fees to their advantage by setting up big sell walls, buying them out, and creating the illusion of incredible buying pressure at no cost? Or vice versa, I suppose.

So, while the manipulators were hard at work at Gox, why did they not paint red tape in China, creating the illusion of incredible selling pressure?   That would have helped drop the price quite a bit more.   It could be done, but how much is it actually done?   All we can do is speculate, and speculation by very nature is wrong at least as much as it is right.

You have emphasized that this is just for the 'next little while', so most people will not care so much. Yes, it may crash to $300, but it was the price just 3 days ago. What's the big deal?

If you want to sell now and buy back low enough, You have to watch the market 24/7 because no one could know when it will suddenly shoot up again.

For BTC prices to increases further, a lot of early adopters (holding with 2 digits cost BTCs) have to sell out their holdings. If they don't sell now, they will sell at $1000, $2000, ... eventually. Therefore, dumping actually means coins exchanged from people buying them at low price to those buying them high. Then the average cost of coins increases significantly, and that means we can expect stable increase to next height.

It makes perfect sense.   Coins that could have been acquired for much less, who knows maybe even pre 2013 prices, are sold for a handsome profit.   Those coins now have a burden at the new purchase price.   They are no longer $10 coins, they are $500 coins.  

Yes, you are right. So the key is whether you are bullish or bearish in the long term, or in other words whether you believe BTC will finally go to mainstream (means much more $$ than now). If you believe in that, then all these up and downs do not matter so much and we know that all these big dumps along the way are inevitable. They are only meaningful to traders.

For trading, since BTC market is 24/7, it is better to rely on bot softwares. Otherwise, it's not worth sacrificing our life on it.

Yes, and the amount of interest drummed up in the last few days has assured that many people are trying to get money in.   They may wait to see where we land, but everyone knows we will be back up to $900+ eventually.   It would be awesome to consolidate for a few weeks, but I doubt we will be so lucky.   You are new, listen to the likes of Nemesis.  Not Blitz, he is not so bright with his "2011 all over" talk.   Everything is crazy bullish right now.   This is the best buying opportunity we will have for quite a while.   Watch closely if you are waiting for a bottom, they happen fast and are gone.   It may take a few days to sort this correction out, but it will be history soon enough.   If I had any more fiat handy, I would be getting it ready to spend, alas I spent the last little bit I had at $180 after the crash from $233.   At least I still have some $2 coins     Seriously though, be careful, what you want is more BTC, not more fiat.   Don't miss the boat because you are too bearish.

1-Yepppp
2-Desperate for 5MM? Happens to be at the time when most banks around the world are closed? Extremely unlikely
3-Possibility, but it's already been few hours after the market sell and no news, so he could've at least spread it over few hours. But a day or two should show for sure
4-Yeah, but again why dump all at once like that at odd hours coincidence?
5-No way to move such amount across exchanges, and highly doubtful that he had the same amount at other exchanges to cover. And arb been there for some time no reason to do a market sell
6-always an option, but how many crazy multi millionaires do you know who throw money out like that
7-Timing just makes this too unlikely.
8-True, but if i tried to pull this off i'd be betting on instantaneous panic, plus that wall BTC1.5k wall was a BTC1.7k wall at $533 and got moved back once people started to go at it. Smells like intimidation tactic.

9-FBI cashing in on those confiscated SR coins? 10k down 40k to go?

Unbelievable that people are still buying. Just let it slip and pick it up later on the cheap.

i think you underestimate the amount of money looking for bitcoins.

guys this is really fishy... I see massive buys on other exchanges!!! do you think this was all played ? create some panic people start selling and some big hands eats the weak hands ?

I managed to wipe out the order book down to $749, hopefully I haven't made 'a huge mistake'.

I gotta admit it was intensely satisfying though.

I've put in buy orders all the way down to $200.. bigger the lower we go.
Still holding on to my initial BTC investment, sold off the ones I made trading. Definitely feels like the right decision. If we go up again already, I'm cashing that money out for good. If we go down deep, I'm buying more BTC with them. Either way.. they're staying on stamp for the weekend. Possibly longer.

Seems cavirtex.com new trading platform is broken.

Perhaps a sad attempt at high volume trading.....

I suppose this is "the" way to scare off traders.

where the fuck is the bottom?

Futures have collapsed, dealing only +120 above spot when it had been dealt like +800 at the top.

Check out:  https://icbit.se/WebTrade/Trading.aspx?s=BUH4

That's the march contract, highest volume contract on the site. The spread between Gox Price and March contract has been of interest to me. Currently trading "only" $120 over current gox price, when it had been trading as high as $2000, when gox was ~$1200, ie an $800 difference.


Icbit.se FAQ: https://bitcointalk.org/index.php?topic=164255.0

I just back from work and seeing that bitcoin fell about 100$ today, could anyone tell me what caused that? Any bank banned bitcoin?

And 1 USD says you are mainly in bitcoin atm - so what? Nobody here says what they really think, only what their position is, you as well.

Monument to the "news doesn't matter" argument. Sentiment is king.

Might have had to do with a 217 BTC buy of a lambo?  

Er... it's actually down right now:  Error 502

Edit - back up - but it has been weird at losing trades and having balance problems lately - not sure it's 'imploding' just yet - what happened?

Its kinda disgusting to think how much money one made just by having a bits of inside info.

That's the brilliance of it. Although I'm American, I have a business in the Czech Republic. And even more brilliant, this device legally gets around the FinCEN rules, meaning I won't have any problem selling it even if I were in America.

I'm hoping that because it's a product I myself need- that others will find it useful too.

I can't divulge more at this point, but suffice it to say- yes I do believe I've gotten around it.

Will the majority of the sellers buy back in after it's clear the bottom has been hit? That's the real question here.

Are we really going up?

Maybe right now is the best time to sell for a few days...

Or should I buy some more...

I'm completely disoriented right now..

At these prices?

When Loaded posted last, and BTCChina rallied, they were nearing $300.

So... buy high, sell low?

Yes, that's all certainly possible.

My only point is that if real big whales are accumulating (either at 300 or 500), it's because they know they will soon have ROI.  They know the accumulation game is coming to an end.

2014 will make the $1240 top a joke.

Invoice manipulation is a huge way to get USD in.

Ever since 18 November, the only time that there is above average volume is when it is selling off.  All the buying is being done by stealth, one coin at a time.

53.7%

does that mean 50% * 1.536 = 76.8% ?

I swear, I have extremists on both sides of me.

The Chinese Slumber Method Prediction almost worked this time!!!

Checking the prediction for Huobi

Prediction posted: Tuesday 2014-02-18, 01:14 UTC
Prediction valid for: Tuesday 2014-02-18, 19:00--19:59 UTC (not before, not after)
Huobi's predicted price:  3860 -- 3920 CNY (3890 plus or minus 30)
Huobi's actual price (L -- H): 3810 -- 3824 CNY (3817 plus or minus 7)
Error center-to-center: 73 CNY

The prediction is the rightmost blue rectangle in the chart below, just above the red/green price bars. 

The big dots on top of the price plot are the Slumber Points (prices at 19:00 UTC every day).  The True points (yellow) are those which had nearly zero trading volume at 19:00; the False ones (olive-brown) are those where Huobi's clients and/or their robots kept trading through the night.

The yellow line is the least-squares-fitted  trend line that was used to make the prediction.




Checking the prediction for Bitstamp

The Bitstamp predicition is the Huobi prediciton divided by 6.12

Bitstamp's predicted price: 625 -- 645 USD (635 plus or minus 10)
Bitstamp's actual price (L -- H):  617 -- 625 USD (621 plusor minus 4)
Error center-to-center: 14 USD

In the chart below, the dots are Huobi's Slumber Point prices divided by 6.12 (or 6.40  for feb 7--9)

I would not call it "artificially inflated".  Since they charge no fees, we should expect that they have many more actively trading clients than other exchanges, and also that each client generates a lot more trade volume than a client would elsewhere.

I have seen many claims that their volume is "fake", but I have yet to see evidence of that.  Their volume data seems to be consistent with humans assisted by robots or scripts. The model above exploits some features specific to Huobi that hopefully will let us get around that limitation.  First, Huobi seems to have little trade by unsupervised robots (which have much more varied behavior than humans, and therefore should be less predictable). Their clients apparently have relatively well-defined demographic profile, and are relatively isolated from the rest of the world in terms of economic news.   And, those clients are trading a single item (Bitcoin) and have a relatively narrow channel for injecting money into the system (local banks)

On the other hand, evidence fo fake volume at MtGOX and other sites are quite strong. For example, by the end of January MtGOX's volume was as low as 15 kBTC/day; some dumb robots, that worked steadily day and night, may have accounted for half of that.

It may not be a pleasant conclusion for non-Chinese bitcoiners, but it seems undeniable that bitcoin trading is now largely a Chinese thing; specifically, that the price of bitcoin is now largely determined by the Chinese traders at Huobi and OKCoin., and carried to other exchanges by arbitrage.

I would consider legitimate (i.e. not "fake") any transaction between competing people or organizations, whether it is done manually or with the help of scripts and robots.  Any such transaction contributes to define the true "market price" of the item.   To a first approximation, it should not matter if the same coins are being traded back and forth many times, or how many distinct people are trading, as long as each transaction happens because both sides believe that the price is good.  To me a transaction is "fake" only if the buyer and seller are the same, or are colluding outside the market place.

Methinks that the volume of legitimate transactions is a good measure of the importance of a market.

The higher the volume, the higher the liquidity and the smaller is the spread, therefore the price is pinned down more accurately.  At BTC-e, forexample, the price often is bouncing rapidly up and down by a few dollars, so that the 1-minute plot look like a broad belt.  You hardly see that at Huobi; the plot looks more like a line than a belt.

Usually, the higher the volume, the smaller is the effect on the price of buying or selling a fixed amount of coins.  Therefore, arbitrage trading between a high-volume market and a low-volume market generally has little effect on the price of the former, instead copies the price to the latter.  For example, I would guess that the sharp steps one can see in the 1-minute plots of BTC-China and Bitstamp (but not on Huobi's), at periods when there seems to be little real activity, are arbitrage transactions aligning their prices with the global market.

For all I have seen in the past 2-3 months, I believe that most of Huobi's volume is legitimate in this sense.  At the other exchanges, I am not so sure; but even if it is all legitimate, the volume at non-Chinese exchanges is only 1/3 to 1/4 of the volume at Huobi and OKCoin.   Whatever one may think of the "quality" or "meaningfulness" of their trade, it counts the same for the definition of BTC's price.

Also I do not think that there is any government interference with the bitcoin trading inside the exchanges.  My understanding of the news is that the PBOC, having blocked the use of BTC as a currency in commerce, and prohibited banks from playing with it, now sees bitcoin trading within the exchanges as a kind of gambling, and therefore does not care about it at all.

Note that I said "bitcoin trading", not "bitcoin".   Bitcoin development and other activities (such as promoting its commercial use) seem to be mostly "non-Chinese things".   Given the restrictions on use of BTC in China, I do not expect that there will be any significant development or advocacy there, except perhaps in mining technology.

If it was easier to get fiat onto Gox you could make a killing now via bitcoinbuilder. Of course, the reason the difference is so big is precisely that it is difficult/slow to do for almost everybody.

Gox internal BTC transfers work. So if you want to sell your stuck Gox BTC you send them to the bitcoinbuilder Gox address. If you want to buy some, you send them real BTC to their regular BTC address. They are a middleman, getting a 2% fee... with 5-6k volume per day... it's a pretty profitable idea to say the least.

Bad timing, FUDsters. Try again in a few hours. Man, the possibility of a short squeeze has got to be starting to worry you.

I was feeling the same way.. most of my bids got filled, was going to just withdraw the coins to allocate to cold storage... and then this from virtex:



Really Virtex? not you too?

SCAM

Orly? Tell that to Forex traders who speculate in every single currency in the world.

If people are getting them and never had a gox account could it be this account ? Who got that email to the email adresss registered here? Other one I can think of is bitcoinbuilder.

Doesn't count as "eaten" if the buyer and seller are the same. 

Planned volatility, which is often worth more.

http://www.reddit.com/r/Bitcoin/comments/1z1mmz/breaking_full_mt_gox_story_coming/

same guy that provided the gox report and broke the fortress fund news

No I'm not. I don't really think it's going to move the markets, whatever he comes out with. In fact, he had previously suggested he thought other companies such as Blockchain, SecondMarket etc were involved in the cover-up. The fact that he is now saying Gox acted alone is a positive.

The recovery is slow and boring. Train wrecks are morbidly interesting.

If you aren't the sole controller of your private keys, you don't have any bitcoins.

Follow that simple rule and you will not be doomed to repeat it again.

TA is saying pennant with a bias towards the upside. Volume is saying go to sleep.

I don't understand why ANY of you here would still have funds on mtgox. Mtgox has had blatant liquidity and management problems and been the running joke of this community for almost an entire  YEAR. I removed my funds in AUGUST. We had passed mtgox off as no longer relevant and a facade months and months ago and now suddenly it's a big deal again?

In all seriousness, the situation with gox is far from over. Questions like "why did mtgox shut it's door?" and "what will happen with their customers funds?" are still unanswered. And these are the important questions. Gox just stopping trading and taking down their website meant very little. People weren't patient enough to wait for clarity about this entire situation and jumped the gun here, so in my view this rise is fragile at best. True recovery will only come if the entire bitcoin market system integrity is no longer under threat.
If it will be concluded as a fact, that mtgox customers lost their money, then there will be a shitstorm that BTC has never seen before.
To me, it's rather amusing how people try to downplay the entire situation.

Just a quick reminder for what´s about to come in the media in the next days.

Bitcoin is a trademark held by MtGox!

If MtGox get´s broke - Bitcoin get´s
If MtGox did get hacked - Bitcoin did
......

Surely if we take the story at face value about the theft of the coins then it becomes fraud the moment the loss of the coins is discovered if trading is allowed to continue.  That would mean from that this point in time that people were knowingly being allowed to buy coins that don't exist.  This of course would raise the question of whether trading stopped on discovery of this or later on.  Up until that point it would be incompetence, if trading continues once it's realised that there's no coins then doesn't it become a crime?

Coins that don't exist cannot be dumped on other exchanges.

/\ This is what is happening. Just read the two bit idiot (names like pirate ponzi and bit of an idiot seem to carry weigh in Bitcoin land.)

The two bit idiot - is calling Bitcoin dead because over 7% of coins in Bitcoin are stolen.
Effectively calling it over when what we have learned is be your own bank, and if you trust someone with your Bitcoin they better provided you with evidence to be worthy. Regulation can't solve that gap.

One of the reasons people trusted Gox. Some lawyer trademark poacher tried to grab the trademark but Gox took it to hold for "safe keeping."

I agree.  We really need to come up with some trustless system for storing and transferring value. 

If they use Bitcoin properly, their money is probably safer than any other asset they own.

I've found corroborating evidence that this irc chat actually happened. I initially thought this IRC chat was suspect, especially with the picture of the cat on the keyboard...it wouldn't be hard to fake an IRC chat...but it's more difficult to fake Mark Karpeles's keyboard.

I was watching CBC news and I saw what looked like the exact same keyboard with some stock footage of Mark Karpeles at mtgox headquarters.

The replay of the segment is up here: http://www.cbc.ca/player/News/TV%20Shows/The%20National/ID/2439580476/

Here's the screenshot of Mark K's desk at mtgox from this CBC segment. http://grab.by/uF4M

And here's the kitty cat pic for reference: http://imgur.com/r/Bitcoin/GqZr3N5

Here's an old video of Mark K's cat on youtube: http://www.youtube.com/watch?v=81QkfGpHeyQ

Either the irc chat was faked and someone did extensive research and prepared the correct prop keyboard and correct prop cat, or that pic really is Mark Karpeles's keyboard and cat.

At this point, I'm thinking that irc chat actually happened.

the man speaks truth

I think the whale waits for the bid sum to increase before attempting another pennant.

  You messing with me?  

That has been exactly my thinking.

The Gox BTC disappeared into the market a long time ago and they were operating in a fractional fashion.

This means that the perceived money supply was larger than it actually was. People thought they owned coins they didn't in fact own and someone else was using. Now that the truth has come out the perceived money supply has been reduced by ~6%. MtGox people can either purchase the BTC that they wanted or exit. Exiting has already been priced in, but purchasing more drives the price up.

I'm inclined to think this could go higher soonish.

There are no "average actors", people do not act as a homogenous whole. It is not a case of "will people do X or Y" but how many will do each.

I this case, peoples Bitcoins have been taken. They can't sell them and make the price go down. It only takes a fraction buying back to help things move up.

The only way it could affect the price negatively would be to discourage people from holding bitcoins and doubtless those who were not involved in the Gox debacle are thinking "it won't happen to me" as much as those who had funds on Gox were before the event.

CCMF

"Almost" anything that is good for crypto is good for Bitcoin.

WTF? this is the speculation thread... we trade on rumors... and trading on rumors of rumors is even MOAR better!!!!!!

You have to keep doubling and betting until you win.  It is mathematically proven at least to be a break even strategy as long as the odds are exactly 50/50 like flipping a coin or black and red on a roulette wheel... so long as there are NO betting limitations.  Your point is that a guy would run out of money sooner or later, but overall it is at least a break even strategy... and pretty unlikely that a guy or gal would lose more than 10 times in a row.

 You incorporated a 10 time betting limit into your description.. which is NOT part of the theory.. and pretty unlikely.. less than 1 in a 1,000 chance of losing 10 times in a row (actually it is a 1 in 1,024.00262 chance of losing that many times in a row)...

Anyhow, if we use the $1 scenario, the odds are that you would have won more than a thousand by the time you lose 10 in a row.... which if you lose 10 in a row, you are invested $1,023 at that point in time.  If you lose one more time (11 times), then you are invested $2039, (1/2048.00524 chance). Anyhow.. sooner or later, you are going to win back your dollar, so long as you keep doubling your bet each time.. it's inevitable.. so long as the odds are 50/50.  

Of course, if you do reach that unlucky losing streak of 10 in a row, then you gotta find the capital from somewhere to keep betting and doubling the bet again.. otherwise you will lock in your losses.  

The problem, that I already mentioned, is that sometimes peeps will misunderstand or misread the odds or they will accept a betting limit or will deviate from the exact application of doubling the bet each time that you lose, until you win..

After you win, then you start over at $1 again.  

Of course, if you were going to start out with $10 or $100, then you would need 10x or 100x more capital, in the event you entered a long losing streak... but it is almost guaranteed that you will NOT lose 10 times in a row, unless the odds really are NOT 50/50.

+1. Yep... those prices are good!! Went all in at 360$  

Post-bottoms bounces are usually more violent than what we see now. It might be some short time bottom though.

Or the owners hit the pause button to sell before everyone else.

Some great comments finally on r/bitcoin as this all crumbles today http://www.reddit.com/r/Bitcoin/comments/22qc1d/as_someone_who_has_invested_140k_into_bitcoin_i/

Good to see circle jerk on the down low finally.

huobi wants it over 400.  lots of chinese people want their coins.

huObi is broken, use OKCoin instead.

My sources are saying that the ceos of all the major exchanges have been arrested.

Bitcoinwisdom consolidates buys and shows the highest buy price. So even if out of the entire order only 0.0001 btc gets bought for $1 it would look like 133 btc got bought at $10k.

movement incomming

What you should do before you commit suicide is take huge fucking loans from the bank, go heavy on the leverage and wait 1 year and see if you're rich. If not, you can contionue to your first step

edit: lol@above post

I am buying 5btc for every 10$ drop, lets see if I get broke!

Wall moved to 370. Looks great but i'm afraid it's the same guy who will be dumping shitloads later.

It would be nice to see it rocket up again - some of my mates lost lots of money in BTC. I myself managed to pull pretty substantial profit from it, but I joined the choo train a bit late. TA is just TA in the end - manage risk/ride the wave of volatility. There is serious manipulation going on, I am very curious to see where this will be in 6 months or so. Double digits are probably out of question, but I wouldnt be suprised if it "stabilized" in 1XX which will eradicate weak hands. Perhaps, just like all great ideas ,eg. communism in its purest form, BTC will slowly dwindle away and never reach its full potential.. not to mention be used for what it was intended to be used for...

Sell all of it immediatly, and maybe buy back lower. I definately wouldn't keep them at that phase. Then again, I would've exited a long time ago already, around the 500 dollar mark.

Bulls!

True.

Haha.

Oh boy did that pump ended badly. Cut your goose, we are going down to the dark dephs of 1xx range. The search for the holy bottom continues.

Google adds crypto, and the price goes down  

Utility doesn't pay the utility company.

They are not mutually exclusive.

Price is everything.

This is essentially correct. Greece has had a negative trade balance for a very long time now, with no improvements on the horizon.


This is completely wrong and demonstrates a clear lack of understanding of both European politics and European economics. Our institutions are complex and never straightforward. Even most Europeans don't understand them. You would do well to learn more about them before saying rediculous things like that.

Nevertheless: Greece will not be kicked out of the European Union. They will not leave the Eurozone or be kicked out of it. Leaving either the Eurozone or the Union would not absolve their debts. There will be more negotiations. A settlement will eventually be reached. The EU will continue to heavily subsidize Greece, which Greece is dependent on to survive. Their economy will take a turn for the worse but they'll still be better off than in any other situation.

As a whole, the EU is still running a trade surplus and is as such doing okay. Despite what you believe, Germany amounts to only 20% of the EU's economy and does not dominate European policy. This percentage is actually shrinking as eastern Europe developes. There is no massive currency devalutation nor is there one in the making. There isn't a single serious effort to reinstute national currencies, as not a single country would stand to benefit from it.

There is a whole lot of exaggeration when it comes to European economic and political instability (which is mostly just perception), and it seems you've fallen prey to it.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... <sips Kool Aid> .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... <sips more> that makes perfect sense

 

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck'  

Exchange volume is anaemic (excluding these wash trades) ... has been for months, and continues to be ...
Masterluc's 'Silent Phase' ...
Unfortunately this does not attract  more 'hot' money, so numbers are being fudged ... Occam's Razor