Are we seeing true capitulation on gox?

TERA

hero member

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Quote from: taiping on February 21, 2014, 01:36:29 AM

Quote from: TERA on February 20, 2014, 10:33:55 PM

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.

That's me - I've written down the cost of MtGoxBTC/USD to zero, but continue to buy MtGoxBTC.
Getting back cents on the USD if it goes bankrupt is of no interest to me.

Ah yes I forgot another thing:

The price point where people decide that an x% chance of receiving X amount of btc is more attractive than a y% chance of conducting/winning a lawsuit and receiving Y amount of btc, and people who don't think that a lawsuit is going to work or that they would ever receive USD and have a better chance of receiving BTC, despite what the lawyers say.

taiping

newbie

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Quote from: TERA on February 20, 2014, 10:33:55 PM

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.

That's me - I've written down the cost of MtGoxBTC/USD to zero, but continue to buy MtGoxBTC.
Getting back cents on the USD if it goes bankrupt is of no interest to me.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Buy when others are selling, sell when Greed takes over.
We are close enough to the bottom for a smart trader to be buying, not selling.

Quote from: HeliKopterBen on February 20, 2014, 10:17:23 PM

Markets have a way of fooling even the most saviest of investors and traders. Prices on gox have declined 93% to double digits and btc-e even traded down over 90% to 102.

IMO the bear market is can be considered complete in terms of price but maybe not in terms of time. However, bear markets tend to move faster than bull markets so this bear only lasting 3 months would not be out of the question.

I could be wrong but I have a feeling gox will reinstate (limited)withdrawals sometime over the next few weeks and those goxBTC will magically turn into regular BTC.

Thoughts?

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: DeathAndTaxes on February 21, 2014, 12:00:53 AM

The article was meh but the photo was mildly funny.

Lol nice. Even better, the magic card in the photo has a habit of dying before you can ever get your "savings" out

ScrapOfCat

full member

Activity: 197

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I'm just gonna leave this here so you can make fun of me later:

I think it's weird that a lot of people were predicting that once we went under the 3 day ema (or whatever) we would drift into the $500s and, low and behold, here we are.

how sure are we that real btc at ~550 has anything to do with gox?

cypherdoc

legendary

Activity: 1764

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Quote from: hostmaster on February 21, 2014, 12:23:28 AM

fearfully watching whats gonna happen to mtgox

i'm fearful for the sellers and shorts.

giletto

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Activity: 812

Merit: 250

Quote from: HeliKopterBen on February 20, 2014, 10:27:39 PM

Quote from: TERA on February 20, 2014, 10:23:32 PM

The trading on mtgox has nothing to do with the trends of bitcoin or "capitulation". It is purely driven by mtgox's death and lawyers that have advised their clients to liquidate all btc into usd at any price.

Who is buying? Are the buyers not being advised by their lawyers?

Why you expect, all buyers have lawyers?

This is nonsense...and what is the advance to keep Fiat money on Gox, instead of BTC?

hostmaster

sr. member

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Merit: 250

fearfully watching whats gonna happen to mtgox

knightcoin

full member

Activity: 238

Merit: 100

Stand on the shoulders of giants

Quote from: DeathAndTaxes on February 21, 2014, 12:00:53 AM

The article was meh but the photo was mildly funny.

WTF

now they will start an Everything Is Awesome lego movie campaign ... ( nice film, btw ... )

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: TERA on February 20, 2014, 10:33:55 PM

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.

or shorts covering.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: TERA on February 20, 2014, 10:23:32 PM

The trading on mtgox has nothing to do with the trends of bitcoin or "capitulation". It is purely driven by mtgox's death and lawyers that have advised their clients to liquidate all btc into usd at any price.

since when have lawyers become good traders?

in fact, some of these lawyers may not be good lawyers thinking they might extract anything from a foreign company in Japan.

knightcoin

full member

Activity: 238

Merit: 100

Stand on the shoulders of giants

Quote from: TERA on February 20, 2014, 10:33:55 PM

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.

be bull comes natural for most of people, because people naturally have faith in the future ... investors, start-ups etc ...

DeathAndTaxes

donator

Activity: 1218

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Gerald Davis

The article was meh but the photo was mildly funny.

GeniuSxBoY

hero member

Activity: 616

Merit: 500

MtGox to drop Bitcoin and start trading game cards again

http://www.coinion.com/2014/02/21/mtgox-drop-bitcoin-start-trading-game-cards/

Bitcoins101

hero member

Activity: 938

Merit: 509

Honestly, if I had GoxUSD right now I'd be buying GoxBTC with it. However, anyone paying USD for GoxUSD at an even rate right now (i.e. depositing) is a moron. Not because GoxBTC is a bad deal at 100 GoxUSD for every GoxBTC, but because 1 GoxBTC for $100 USD is not a good deal.

TERA

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Activity: 728

Merit: 500

There's always this discussion of "who are the buyers" that I see every time anything is going down, even if it's worthless. For example when I played penny stock shell pump and dumps there's always someone asking "who is the buyer" every step of the way as it loses 99.99% of it's value. "oh someone must know something. why would ANYONE buy at all?". It's irrational thinking. Things don't just go straight down. There's always someone trading and trying to catch the knife. It's irrelevant. Who cares? The point is the trend is down.

HairyMaclairy

legendary

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Degenerate bull hatter & Bitcoin monotheist

Or figure they won't get their money back anyway so why not have some fun.

TERA

hero member

Activity: 728

Merit: 500

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.

yogi

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Activity: 947

Merit: 1042

Hamster ate my bitcoin

Quote from: HeliKopterBen on February 20, 2014, 10:27:39 PM

Quote from: TERA on February 20, 2014, 10:23:32 PM

The trading on mtgox has nothing to do with the trends of bitcoin or "capitulation". It is purely driven by mtgox's death and lawyers that have advised their clients to liquidate all btc into usd at any price.

Who is buying? Are the buyers not being advised by their lawyers?

Apparently the buyers are brain washed and under the control of the illuminati.

HeliKopterBen

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Activity: 622

Merit: 500

Quote from: TERA on February 20, 2014, 10:23:32 PM

The trading on mtgox has nothing to do with the trends of bitcoin or "capitulation". It is purely driven by mtgox's death and lawyers that have advised their clients to liquidate all btc into usd at any price.

Who is buying? Are the buyers not being advised by their lawyers?

TERA

hero member

Activity: 728

Merit: 500

The trading on mtgox has nothing to do with the trends of bitcoin or "capitulation". It is purely driven by mtgox's death and lawyers that have advised their clients to liquidate all btc into usd at any price.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

Magical thinking.

HeliKopterBen

hero member

Activity: 622

Merit: 500

Markets have a way of fooling even the most saviest of investors and traders. Prices on gox have declined 93% to double digits and btc-e even traded down over 90% to 102.

IMO the bear market is can be considered complete in terms of price but maybe not in terms of time. However, bear markets tend to move faster than bull markets so this bear only lasting 3 months would not be out of the question.

I could be wrong but I have a feeling gox will reinstate (limited)withdrawals sometime over the next few weeks and those goxBTC will magically turn into regular BTC.

Thoughts?

Topic: Are we seeing true capitulation on gox? (Read 1728 times)