Topic: BITCOIN CRASHING - page 2. (Read 6713 times)

Let's say gox re-enables BTC withdrawals.  Will those coins get dumped for fiat on the other exchanges, or will it be seen as a sign that all is well at Gox?

Bagholders, bagholders...where have I seen that before?  Oh right!

  https://bitcointalksearch.org/topic/m.577820

Happy Hodling, ya'all.  May the next few years be like the last few.

Interesting, thanks.

https://github.com/tomholub/coinbaseorders run it on your own hosting if you wish :-)

Hey, no fair.

You're not allowed to use the truth to shit on someone else's parade.

Despite what various media sources are saying, Russia didn't actually ban them. They did ban the exchange for goods and services but Russian people are still allowed to invest in Bitcoin. I don't really see the difference between what Russia did and what China did to be honest.

The news was that Gox is imploding and Russia banned bitcoins.

(Unlike China, Russia actually did BAN them.)

But keep in mind. The idea of trading is to make money. So when whale daytraders, or any one trying to make money on swings, hears bad news... they tend to sell. Hopefully they sell before everyone else does. Smashing 1700BTC sell orders into the buy walls is a great way to make others panic and sell too. Then, at the bottom, trickle buys bring things back up and the people who bought and sold at the right spots make mad profits. Those who didn't time their orders right get fucked.

So, in a sense, the news did not cause the price crash. Obviously Gox is not particularly relevant since it's been a long time since it had 80% market share, lol. And the people who sold, were not necessarily selling because they all of a sudden decided "This news will have a HUGE effect on BTC, it is the end of BTC as we know it!" It was more like "Other people are probably going to sell on this news, so if I sell, I'll profit!" Others sold because they panicked. Still others sold because they wanted to cash out anyways and figured that price might go lower in the mid-term future so now was their best bet. There is no such thing as single cause->effect when it comes to market psychology. The same event might cause different people to sell for different reasons.

Funny, I saw exactly that going on stamp.

I witnessed a series of very large sell offs getting slammed into Bid wall on Stamp. Individual sell orders so large, that the whale executing them must have either been panicking, or deliberately trying to smash the market.

Included amongst them, was a single sell order in the region of 1700 BTC, that took Bitstamp down from $705 - $666.6666.

Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

If gox fails does it really matter anymore? Most exchanges don't even follow gox's prices anymore.

FYR: https://bitcointalksearch.org/topic/m.4990618

Russia ban bitcoin, New breaking news,  http://www.coindesk.com/btce-pulls-support-ruble-russia-bans-bitcoin/

Then it's Ok. I thought that it was a fake coz Russian doesn't charge taxes in dollars.

No, I was correct. We are talking about international regulation among G8 countries, not just Russia.

This coming from the woman who created this silly troll thread .. the attention span of gerbils, some of you ..

I'm not sure of the exchange rate so I guessed. Was I close?

Just one problem, in Russia taxes r paid in rubles. Edit ur post

UPDATE: Bitcoin still crashing. The next leg down will happen when Gox announces it's shutting down for good and not returning any fiat or BTC, and when the news about Russia/China/Indonesia/etc complete bitcoin bans finally sinks in.

I can confirm this news and I agree with your investing strategy. Only a fool would continue to HODL a cryptocurrency that has a 10000000RUR tax per coin.