Bottom was hit around 50 - people start to buy like crazy...

Bitmeat

newbie

Activity: 28

Merit: 0

Quote from: bozak on April 16, 2013, 12:22:37 PM

Quote from: Cogine on April 16, 2013, 11:59:04 AM

Have to love the fact though that GOX is able to handle all this traffic now.
I mean 637,359 BTC Traded in the last 24.
Hell a week ago they could not even process 200,000 in a 24hour period without crashing.
Good Signs

I'm not sure that the BTC volume traded is actually a good indicator of the trade volume that Gox is handling. When the exchange rate was higher, fewer BTC were traded, but that doesn't mean that there were fewer transcations. From an order handling perspective, the server has a much harder problem processing and matching 100 orders for .01 BTC than it does one order for 1 BTC.

Correct, MtGox can handle around 35-37 trades per second on current hardware. Once they get their new servers with the database on fast disks, this should go up to thousands. Either their exchange software is really terrible, or they have very slow/few disks at the moment for a db server

bozak

full member

Activity: 120

Merit: 100

Quote from: Cogine on April 16, 2013, 11:59:04 AM

Have to love the fact though that GOX is able to handle all this traffic now.
I mean 637,359 BTC Traded in the last 24.
Hell a week ago they could not even process 200,000 in a 24hour period without crashing.
Good Signs

I'm not sure that the BTC volume traded is actually a good indicator of the trade volume that Gox is handling. When the exchange rate was higher, fewer BTC were traded, but that doesn't mean that there were fewer transcations. From an order handling perspective, the server has a much harder problem processing and matching 100 orders for .01 BTC than it does one order for 1 BTC.

donkeybozo

newbie

Activity: 34

Merit: 0

Quote from: Cogine on April 16, 2013, 11:59:04 AM

Have to love the fact though that GOX is able to handle all this traffic now.
I mean 637,359 BTC Traded in the last 24.
Hell a week ago they could not even process 200,000 in a 24hour period without crashing.
Good Signs

Nice observation

Cogine

newbie

Activity: 34

Merit: 0

Have to love the fact though that GOX is able to handle all this traffic now.
I mean 637,359 BTC Traded in the last 24.
Hell a week ago they could not even process 200,000 in a 24hour period without crashing.
Good Signs

alexeft

legendary

Activity: 854

Merit: 1000

Quote from: Hughra on April 16, 2013, 11:17:35 AM

Its been 16+ hours and still no funding

It can take 4 to 5 days Cry

Hughra

newbie

Activity: 35

Merit: 0

Its been 16+ hours and still no funding

MisterMelancholy

newbie

Activity: 42

Merit: 0

Quote from: Hughra on April 16, 2013, 08:56:49 AM

I tried to fund my mtgox account to buy some while they are low and it is still stuck in no-where land. Its quite disappointing watching the market rise when I know i could have had a stake in it.

BitInstant is, well, instant. I've used it before, and it couldn't have been more instant.

Also, I dumped $200 into Bitcoins at $83.5. I've been buying low and selling high as the price has been decreasing, and made over a full Bitcoin in profit. I'm ready for it to bounce, but I think it'll hang around $50 to $70 for another 5 to 7 days while the last of the sellers sell and and everyone else starts buying. This is solely a guess though; I know almost nothing about economics.

Hughra

newbie

Activity: 35

Merit: 0

I tried to fund my mtgox account to buy some while they are low and it is still stuck in no-where land. Its quite disappointing watching the market rise when I know i could have had a stake in it.

zakoliverz

hero member

Activity: 536

Merit: 500

In My Humble Honest Opinion , I think it will start to bounce back soon.

dg2010

sr. member

Activity: 462

Merit: 250

Quote from: Jenger on April 16, 2013, 07:53:59 AM

I said a few weeks back when it was $220+ that it was gonna crash hard and level out around $50usd

You and about 1 million people. Well done.

Jenger

sr. member

Activity: 280

Merit: 250

I said a few weeks back when it was $220+ that it was gonna crash hard and level out around $50usd

I think $50 is an honest amt per btc right now. Not too high, Not too low. I wonder what caused this last major spike, was it manipulation or extreme excitement? I heard a massive amt of wallets from new users were created in these last few weeks.

Xiaoma

full member

Activity: 133

Merit: 100

Nah will probably hit $30 in a day or 2
That is about as low as can go, IMHO

dego

sr. member

Activity: 399

Merit: 250

63 is the current front line...

Until you realize that 50 won't come back...

ManBearPig

sr. member

Activity: 350

Merit: 250

"Don't go in the trollbox, trollbox, trollbox"

Quote from: dego on April 16, 2013, 05:29:51 AM

happening now!

It's a brave call. May be a false bottom (fnarr!).

A bottom is a great long-term entry point (fnarr-fnarr!)

Apologies to non-Viz readers.

just1nmc

sr. member

Activity: 280

Merit: 250

Haha still very early but I'd love to see it hold. $50 would have very strong support going forward if it managed to stop this trend.

dego

sr. member

Activity: 399

Merit: 250

happening now!

Topic: Bottom was hit around 50 - people start to buy like crazy... (Read 1915 times)