I agree. That's the only thing which has stopped me buying during these corrections today. I've been desperate to buy every time it hits $280. Stupid banking system.

WTF just happened on Bitstamp? $10 growth in 10 minutes after a huge stagnant period?

So? Lots has happened in those past couple of weeks. The mainstream media is finally starting to notice Bitcoin. Just because the growth is greater now than it was 4 months ago doesn't prove that it's going to crash soon.

Even though I'm 100% bullish, I think for the rest of tonight I'm a bear. The growth over the last 24 hours has been insane.

I'm holding on anyway. Paper wallets in a locked safe ftw ^_^

You'll regret it. Give it two hours and it'll be right back up.

Why is Bearstamp doing the opposite of all the other exchanges? For the past couple of hours they've been slowly dropping in value, but all the others are either holding steady or rising...

I never know which exchange to use to calculate my profits. I used to like Bearstamp's value, but right now they're massively undervalued...

Do people seriously even fall for that crap? It doesn't even make sense - why would there be a crash today after we've had good news, and the market already corrected for the ridiculous gains earlier on?

I barely even bothered looking up when I saw it dropping. Yawn. Go away bears.

The last 48 hours have made me wonder why my BTC are in paper storage.

It's annoying to correctly predict rises/drops, but have my BTC sitting in a locked safe at home while I'm at work.

I've gone from 100% bull to 100% bear since earlier today. I fully expect it to be way down when I wake up tomorrow.

Better start thinking up a witty comeback when people at work tell me about how much money I've "lost".

Yes, I know I got in somewhere between $200-250 so I certainly haven't "lost" anything. But I tend to brag when it goes up, so I can only imagine the comments about how I threw away tens of thousands of dollars while I was sleeping.

Oh well, only time will tell.

Good. I hope they do. This is completely unacceptable considering the amount of money they turn over every day.

You can't deny that this exciting, at least. Someone should make a Bitcoin amusement park where all you do is watch a ticker. I'd go to it.

Doesn't it depend on how many BTC you're transferring? I find that large transactions go through straight away with no fee, but smaller transactions require fees (and higher fees depending on how small).

Couldn't agree more. Someone with lots of BTC claiming that they "know the market" better than anyone else just screams arrogance.

Was the guy last month who found out he had $880k worth a master of Bitcoin?

I don't even care anymore when I see bear traps on the chart. I just come back in 30 minutes and see it right back up where it was before.

I think the $1000 wall is going to be a letdown for the bears. There will be resistance and some small corrections, but for the most part I can see us getting through it fine.

Everyone stressed out about hitting $266 again a few weeks ago and look how far we've come since.

AUD$1000 within the next hour :p

IMO the log chart is going to become less relevant/correct over time. Logarithmic growth was true back when Bitcoin was just getting natural growth through word of mouth. Big news like Richard Branson, or the US Senate, or whatever comes next, can and will push it above log.

Bears need to give up and go home.

Really? I don't. Serves them right.

Should've just been happy with their 2k coins instead of getting greedy.

This is just one person, right? Not sure if I'm reading the charts correctly.

Where are all the bulls? Get in quick before $800 is a thing of the past.

That feels like an eternity ago. But it was only one week since they were that price.

I'm becoming very bearish all of a sudden. And it's pretty much time to go to sleep here. Decisions...

I haven't been following it that closely (I only have 50 LTC) but I thought a whale bought 300k coins the other day and the price has just sat around the same price ever since.

Edit: Wow, $14 now. Last I checked it was $12.

I just woke up from a dream about my new mansion and Lamborghini parked out the front.

One day... Just need patience :p

Yep. 4-6 confirmations are what exchanges wait for when transferring millions of dollars. Who gives a shit when it's a $1 coffee?

Also, have there ever ACTUALLY been any successful double spends (by that I mean someone lost their money/product)? I hear that they're possible and all, but I've never heard of someone doing one.

I wasn't expecting that. China has pretty much been dead for well over a week then out of nowhere they smash straight through 6000. What happened?

They're well on the way to their old ATH (6900?)... Any Chinese who were smart and didn't panic sell will be back in the green soon. Their own mini April 2013 :p

To be fair, the other exchanges (Gox and China) have historically been overpriced. China pretty much had their own crash just a couple of weeks back. Perhaps it's those which are expensive, not Stamp which is cheap.

Yeah, let's just sit around twiddling our thumbs at $990, then as soon as it hits $1000 buy 1500 BTC. Wtf?

At this rate Gox is going to overtake Stamp. Overtake on the way down.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Was that something to do with all the altcoins crashing? People getting out while they still can?

I agree. If someone makes a prediction which ends up being wrong, they just forget about it and it goes away. But as soon as they make one which by sheer luck is right, they jump up and down saying "I told you so! I know everything about Bitcoin!"

Besides... If you know for a fact what the price will do tomorrow, why the hell would you share your secret inside information with everyone else? You'd use it to your advantage to make a profit.

So very true. I think this every single time I hear about the "value" of some of these companies.

Instagram was sold not too long ago for many billions of dollars. How the fuck can they possibly expect to turn over a profit? By advertising to 14 year olds who think a grainy photo is cool?

Sometimes I think another dot com bubble is on the way. This is exactly what happened 13-14 years ago - people were throwing insane amounts of money at companies with no real business model (I realise that some bears will probably say the same thing about Bitcoin. It has legitimate potential. So, whatever).

I just hope Bitcoin doesn't get hurt when it all comes down. Maybe the stock market crashing would actually strengthen Bitcoin.

Wonder if this is anything to do with 40k coins stolen by SMP. The same thing happened when SR shut down.

Gox will be $1150 within the hour.

I get the feeling that another rally is about to start on Gox.

Someone keeps putting a 100-200 coin buy order right at the current market price on Gox, and moving the order up as the price rises. Choo choo?

Less than $15 behind gold now, and no resistance in the books. This time we're going to fly past it rather than bouncing off like the last two times.

I'm going to move to New Zealand (from Australia) for a year when I sell mine. Fuck giving 45% of my BTC to the government.

Talk about overreacting. Wake me up when people calm down and realise that this isn't even particularly bad news and we're back at the ATH.

Stupid people and weak hands. They must have this idea in their head that if Bitcoin isn't immediately accepted as the new world currency then it's already failed.

I hope they all lost a lot of money just now. We don't need people like that damaging the markets.

Ok, you first.

So, uh, what's the price right now? Bitcoinwisdom and bitcoinity are both having issues for me.

I logged into BTCChina and it says exactly 6000 CNY.

Nice! I've never seen that one before.

Gox is on the way back up. $1100 and rising.

What does volume refer to? Deposits/withdrawals or also trades between people?

Obviously no trading fees would massively inflate the number of trades too. Even if you sell at 6000 and buy at 5999.99 you've still made a profit, so there's much more incentive to day trade.

Ok, that's what I thought. So it's kinda false when people say that BTCChina has 66% of the entire market or whatever. With zero fees I could trade 1000 BTC back and forwards to my friend (or even myself) for the exact same price over and over, and end up making the volume for that day 1,000,000,000 BTC.

Thanks for the intellectual rebuttal to my argument.

It's funny how emotional people get when they panic sold and need to buy back in.

OMG CRASHING TO $0.01 SELL NOW QUICK CHINA BAN ALL GO TO JAIL FOR ILLEGAL CHINESE BAN GOVERNMENT!!~one

Gox $1000. Show's over, move along everybody.

Almost bed time. I will sleep soundly knowing that we'll be back up near the ATH when I wake up.

So I just woke up, checked my phone, and saw Gox at $830 while stuck in a loop.

Why couldn't I just sleep another couple of hours and wake up after it had finished.

If I had money ready to go I'd be buying at this price.

And yet people had (still have?) it in their head that we'll hit $10k next year.

Yeah, I can really see multi billionaires putting their money into Bitcoin when the largest exchange implodes for no significant reason.

Um, did you even read my post? Where did I say, or even imply, that they do?

You mean you didn't turn BTC7 into BTC300? Pfft. This forum lead me to believe that increasing your BTC holdings by 43x was standard and even an idiot could do it.

We get it. You want it to drop so you can buy back in.

Does anyone else not even concerned, or is it just me? I'm enjoying just watching the chaos on the charts. Haven't sold a single BTC.

So the guy on Stamp sold his 1200BTC for $700. I think he's going to end up regretting it.

If it hits $400 I'll be running to the bank with cash hoping I can do an instant deposit to one of the local exchanges.

Bottom found. $1000 in 3 hours time.

Lol, $100 spread on Gox.

My two guesses were $800, then $650. Now I have no idea. Hopefully not below $200 as that was my original buy in point.

Last time I buy and hold. Worst strategy ever.

Since $200. It just makes me sad knowing I could've doubled my BTC today.

Mini cup and handle.

Handle is becoming longer. $900 in 45 minutes. You heard it here first.

MA is finally turning around and starting to go back up.

Gox: $785
BTC-e: $785
Stamp: $785.99

Consolodation is good... Right?

30% off the ATH less than 24 hours after the crash. Worst crash ever.

Well that wall at $900 didn't last long. Someone bought 1270 coins in one order.

So much for the crash. We're almost back where we started already.

So, uh, why is Gox $100 higher than all the other exchanges all of a sudden? I really don't understand.

The good thing about living in Australia is that we're the first to start a new week, and so I can buy before everyone else.

The bad thing is that I never know whether or not there will be a rally, so I'm too reluctant to buy until it's too late.

Next the TA people will be reading tarot cards.

Oh, the six of swords! I see a grave future ahead of Bitcoin. Bitcoin investors will have relationship trouble in the coming weeks.

Nobody cares.

Maybe this accurately represents the current level of Choo.

If it goes anywhere near the price before this rally then it will confirm my suspicions that BTC traders are morons.

China may have played a big role in this rally, but they definitely weren't the only factor. Have people already forgotten all the good news that came out of Western countries over the past month or two?

Zimbabwe's dollar crashed (inflated) by 2.4575342e20% in one day.

The price is going up.

Maybe coins getting transferred out of exchanges?

If I had anything in a Chinese exchange I'd be pulling it out right now. What if they disappear overnight?

What do they have to gain by doing that? If they simply wanted to buy cheap coins, then they can just do it without even making a public announcement. If they wanted to buy cheap and sell high to make a profit, then, well... Why does a major financial institution care about making a few million dollars? That's pocket change to them.

I sold all my Dogecoins earlier today. It was funny for about a day, now it's just lame and painful to even think about.

People who are actually "investing" real money are insane.

Do all the pointless NSFW images on here annoy anyone else? It makes it impossible to read this forum unless I'm in private.

Ignoring doesn't really work because other people like to quote them.

I can't believe that people actually do that. Nobody has ANYTHING to gain by giving the world advance notice of their trading intentions. The best thing to do is either ignore, or do the opposite of what large holders claim they will be doing in the near future.

A fool and their money...

What exactly do you mean by this? Do you think that they're going to manipulate so heavily that they can make it look like Bitcoin really is over for good (massive crash, etc), then buy up all the cheap coins as people sell out of desperation?

The fact that it did anything at all shows how stupid traders are.

China doesn't like Bitcoin. We get it. It's old news now. You don't all need to panic sell every time China does something else bad. Factor China into your price and move on.

If there is a crash, it will be nothing but manipulation. If people seriously thought that there would be a crash on the 31st, shouldn't they be selling now in anticipation of it? Clearly there's not going to be a rally in the meantime, so there's nothing to miss out on. People are hodling* because they know there's no legitimate reason for a crash.

China is priced in to the market. It was priced in long ago.

* I am slightly drunk.

That already happened.

...A week or two ago when Gox was $1000 and the others were $800 :p

If they sold at the ATH they'd have 9x (and climbing) as many BTC right now.

I don't know if I should be jealous or happy. Depends how this all plays out.

Just out of curiosity - do they really? Do we know what percentage of new coins are sold immidiately vs held?

I see no cup and handle. It went $440 -> $410 then has sat around there for a few hours now.

On one hand I'm glad that the China bullshit will be over in a few hours, but on the other hand I remember the last China deadline on 31st Jan. I was sure that the price would go up once it passed, but the complete opposite happened.

My trading strategy is put all coins in paper wallets, then wank over charts in a bull market and forget about Bitcoin and get on with life in a bear market. Seems to be working well so far.

Even though I'm long term bull, this has to be a bull trap. All these people could have bought last week for less money. Why is Bitcoin suddenly more desirable to them now than it was before? Nothing has changed.

If I'm not a bull then why have I never sold a single BTC in my life? They're all either spent or in paper wallets.

My general sentiment is no different now to how it was a week ago, or even a month ago. There has been no significant news, neither good nor bad.

It wasn't that long ago that this forum was full of people saying "you're a fucking idiot if you short bitcoin"

I miss all the pictures of trains and moons.

What about a lambo on a train?

All the way back to where we were 3 hours ago.

Bitcoin traders are some of the most retarded people on the planet. I have a picture in my head of them sitting at a Fisher Price toy hitting the different colours with a plastic hammer to buy and sell Bitcoin.

I wish China would just say "Bitcoin is illegal and anyone who owns any will be shot in the face". At least then we can forget about their bullshit and get on with business.

Yeah, sub 200 in a flash crash before intelligent people buy the coins back up.

I didn't buy bitcoins because I have some delusional idea in my head of Chinese people evading government controls to freely trade money with the rest of the world. I don't give a single fuck about China nor do I want them involved in any of this.

They censor the Internet. They're never going to allow Bitcoin (at least not without extremely strict measures around it) no matter what.

I'm almost tempted to write a fake article about China banning Bitcoin ATMs or something and publish it on a random site to see how much it hurts the market. But nah, I'm not quite that mean.

The theory is an interesting idea. The implementation leaves much to be desired. I would not be putting my money on the line for NMC.