How does it feel to sell 10-20 kBTC in low 50's couple of hours ago?

Littleshop

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Quote from: Littleshop on March 23, 2013, 10:14:20 AM

Something happens in 24 hours......

The supply from mining is going to drop by almost 1/3. Right now the supply is unusually high do to many ASIC rigs coming online and those people are selling right away to pay for the rigs.

The price will probably go back up 10-20 hours after the difficulty change.

I called that one. Grin

smoothie

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LEALANA Bitcoin Grim Reaper

PEE PEE...so funny Cheesy

AndyRossy

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Quote from: smoothie on March 26, 2013, 04:55:11 AM

How's your Pee Pee coming along? Tongue

meh, I just run a chart website, in fairness, not been active in the alt for a while, real world demands.

smoothie

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LEALANA Bitcoin Grim Reaper

How's your Pee Pee coming along? Tongue

AndyRossy

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Point missed xD

smoothie

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Quote from: AndyRossy on March 26, 2013, 04:41:53 AM

It feels fine, aslong as you're the guy also buying them xD

Sorry I already bought in long ago. Cheesy

AndyRossy

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It feels fine, aslong as you're the guy also buying them xD

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: ElectricMucus on March 25, 2013, 07:47:49 PM

Quote from: smoothie on March 25, 2013, 07:36:34 PM

Hey Bears, how does it feel?

Actually I am relieved. The curve wasn't actually hyperbolic yet.
Might be something like 500 by next week and 20 in a month.

Dump = Relief?...well then you might need some government fiat toilet paper to wipe your butt after you dump. Cheesy

ElectricMucus

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Quote from: smoothie on March 25, 2013, 07:36:34 PM

Hey Bears, how does it feel?

Actually I am relieved. The curve wasn't actually hyperbolic yet.
Might be something like 500 by next week and 20 in a month.

smoothie

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LEALANA Bitcoin Grim Reaper

Hey Bears, how does it feel?

ElectricMucus

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Quote from: ElectricMucus on March 23, 2013, 10:44:21 AM

Quote from: phatsphere on March 23, 2013, 10:41:58 AM

Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

which sunday, tomorrow? i want to nail you on that one. please give a specific date.

yes tomorrow.

If I'm wrong I'm wrong, nothing at stake here, I am not even short

Guess I was wrong. But I'm staying out of this, I made $2k and quit while I'm ahead.

notme

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Activity: 1904

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Quote from: samson on March 24, 2013, 01:39:17 PM

Quote from: notme on March 24, 2013, 01:35:13 PM

They didn't disable it, they just moved it. All api requests that don't require authentication are now at data.mtgox.com instead of just mtgox.com. Supposedly this will help the trading lag since a separate server is now handling data spewing.

I'm astounded that it wasn't separated onto multiple front end servers in the first place.

Mtgox has a shitty setup from a technical perspective. They claim some big improvements are coming, but I will be surprised if they are able to keep up with bitcoin growth. In fact, I hope they won't so we can have a more distributed exchange scene.

samson

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Quote from: notme on March 24, 2013, 01:35:13 PM

They didn't disable it, they just moved it. All api requests that don't require authentication are now at data.mtgox.com instead of just mtgox.com. Supposedly this will help the trading lag since a separate server is now handling data spewing.

I'm astounded that it wasn't separated onto multiple front end servers in the first place.

notme

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Quote from: Qoheleth on March 23, 2013, 10:30:04 AM

Looks like Mt. Gox finally disabled the v0 API. Went back to look at my logs and they've been 403ing for the past two days or so.

What a shame. I'd like to have participated in this flash crash.

They didn't disable it, they just moved it. All api requests that don't require authentication are now at data.mtgox.com instead of just mtgox.com. Supposedly this will help the trading lag since a separate server is now handling data spewing.

Herodes

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Quote from: Vladimir on March 24, 2013, 11:05:28 AM

58% faster than normal last time I checked. Normal is 1 block per 10 minutes on average.

Correct - My math was off, I confused 1 block pr. 10 minute with 10 blocks pr. hour, so you're right.

Vladimir

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Activity: 812

Merit: 1001

-

58% faster than normal last time I checked. Normal is 1 block per 10 minutes on average.

Herodes

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Merit: 1000

Quote from: Littleshop on March 23, 2013, 01:29:35 PM

Quote from: Herodes on March 23, 2013, 12:20:59 PM

Quote from: Littleshop on March 23, 2013, 10:14:20 AM

Something happens in 24 hours......

The supply from mining is going to drop by almost 1/3. Right now the supply is unusually high do to many ASIC rigs coming online and those people are selling right away to pay for the rigs.

The price will probably go back up 10-20 hours after the difficulty change.

Is that so, isn't the network made such that the btc supply is constant, no matter how much hashing power there is, ie. 1 new block giving 25 btc on avg. every 10th minute ?

The network tried for 1 block every 10. It makes that adjustments every two weeks or so. Right now production is unusually high and will be corrected in 18 hours.

Bitcoinwatch reports on avg. 9.08 blocks pr. hour, so it's not a whole lot more than normal, perhaps 10% faster than normal then ? Don't know what that avg. is based on though, if it's the last hour or the last 24 hours.

Littleshop

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Activity: 1386

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Quote from: Herodes on March 23, 2013, 12:20:59 PM

Quote from: Littleshop on March 23, 2013, 10:14:20 AM

Something happens in 24 hours......

The supply from mining is going to drop by almost 1/3. Right now the supply is unusually high do to many ASIC rigs coming online and those people are selling right away to pay for the rigs.

The price will probably go back up 10-20 hours after the difficulty change.

Is that so, isn't the network made such that the btc supply is constant, no matter how much hashing power there is, ie. 1 new block giving 25 btc on avg. every 10th minute ?

The network tried for 1 block every 10. It makes that adjustments every two weeks or so. Right now production is unusually high and will be corrected in 18 hours.

Aztec

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Quote from: ?? on ??

True, that big orange button helps with that though :p

+1

navigator

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Quote from: Vladimir on March 23, 2013, 10:20:55 AM

Basically until ASICs will barely cover cost of electricity.

Please tell me if my maths is wrong. A BFL single 60gh/s, 60 watts, $0.07kw/h would cost about $.1/day in power. At current prices and a difficulty of 6,500,000,000 you would still make $.20/day. I forget how to convert difficulty to terahashes. Would 6.5 Billion difficulty translate to ~65000th/s? If so, that's ~43000 BFL 1.5th/s minirigs.

desired_username

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I cannot believe how many ignorant people are here.

Does any of you really think that spreading BS on a forum does have an impact on the price? Wink

sometimes it feels like im back in primary school again, or more like kindergarten

smoothie

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LEALANA Bitcoin Grim Reaper

+1 to this thread.

That guy who sold...good job selling at the lowest point for likely the next several weeks to come.

ElectricMucus

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Quote from: BitPirate on March 23, 2013, 12:35:35 PM

Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

SELL SELL SELL! Cheesy

There are cheap coins (55), and there is a ruined market (44). Be careful which you wish for.

Bingo! I want this bubble to pop.
The amount of idiots in this community has grown to an insufferable amount, this has to change. One way or the other.

Aztec

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Forgive my ignorance but why would the market be ruined if the price did fall to 40 USD?

BitPirate

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Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

SELL SELL SELL! Cheesy

There are cheap coins (55), and there is a ruined market (44). Be careful which you wish for.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: proudhon on March 23, 2013, 09:11:45 AM

He'll be buying much lower, I think.

lol not so sure in your calls anymore eh? That's the reason you now put "I think" in your statements so you can deflect when proven wrong later.

Spaceman_Spiff

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₪``Campaign Manager´´₪

Quote from: Herodes on March 23, 2013, 12:20:59 PM

Quote from: Littleshop on March 23, 2013, 10:14:20 AM

Something happens in 24 hours......

The supply from mining is going to drop by almost 1/3. Right now the supply is unusually high do to many ASIC rigs coming online and those people are selling right away to pay for the rigs.

The price will probably go back up 10-20 hours after the difficulty change.

Is that so, isn't the network made such that the btc supply is constant, no matter how much hashing power there is, ie. 1 new block giving 25 btc on avg. every 10th minute ?

Difficulty only resets after 2016 blocks.

Herodes

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Activity: 868

Merit: 1000

Quote from: Littleshop on March 23, 2013, 10:14:20 AM

Something happens in 24 hours......

The supply from mining is going to drop by almost 1/3. Right now the supply is unusually high do to many ASIC rigs coming online and those people are selling right away to pay for the rigs.

The price will probably go back up 10-20 hours after the difficulty change.

Is that so, isn't the network made such that the btc supply is constant, no matter how much hashing power there is, ie. 1 new block giving 25 btc on avg. every 10th minute ?

Nemesis

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Activity: 462

Merit: 250

Quote from: mccorvic on March 23, 2013, 10:48:04 AM

Lol, I I love it when a crash happens but the the price goes back to where it was before it even happened. People know 1 btc for over $60 is a good deal and will continue to buy.

I love it too man. Lets hold hand.

mccorvic

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Lol, I I love it when a crash happens but the the price goes back to where it was before it even happened. People know 1 btc for over $60 is a good deal and will continue to buy.

ElectricMucus

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Quote from: phatsphere on March 23, 2013, 10:41:58 AM

Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

which sunday, tomorrow? i want to nail you on that one. please give a specific date.

yes tomorrow.

If I'm wrong I'm wrong, nothing at stake here, I am not even short

phatsphere

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Activity: 763

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Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

which sunday, tomorrow? i want to nail you on that one. please give a specific date.

Littleshop

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Activity: 1386

Merit: 1004

Quote from: Vladimir on March 23, 2013, 10:20:55 AM

Littleshop, all good points. I am not sure however that freshly mined coins have much of an effect on the market. Also your analysis assumes that mining capacity will stop rising after difficulty jump. For all I know it can even accelerate and we will be mining 9-10 blocks per hour for quite a while. Basically until ASICs will barely cover cost of electricity.

Actually my analysis does not assume mining capacity will stop rising. Right after the difficulty change about 1/3 less new coins will be made. That is a big drop and it has not happened often.

The rate will slowly climb but it will take at least a week before it is even close to what it is now, maybe longer. It is harder to add 1/3 to the new rate vs the old one. Over time I do agree ASICs production will get close to the cost of power just like GPU has.

Qoheleth

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Spurn wild goose chases. Seek that which endures.

Looks like Mt. Gox finally disabled the v0 API. Went back to look at my logs and they've been 403ing for the past two days or so.

What a shame. I'd like to have participated in this flash crash.

Vladimir

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Activity: 812

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-

Littleshop, all good points. I am not sure however that freshly mined coins have much of an effect on the market. Also your analysis assumes that mining capacity will stop rising after difficulty jump. For all I know it can even accelerate and we will be mining 9-10 blocks per hour for quite a while. Basically until ASICs will barely cover cost of electricity.

Littleshop

legendary

Activity: 1386

Merit: 1004

Something happens in 24 hours......

The supply from mining is going to drop by almost 1/3. Right now the supply is unusually high do to many ASIC rigs coming online and those people are selling right away to pay for the rigs.

The price will probably go back up 10-20 hours after the difficulty change.

ElectricMucus

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Look if it goes to 40 now it will trigger various trend following profit taking signals. Once that happens the bull market is over.
Anybody except the true believers will tell you this. (And those know it too they won't just admit to it)

If you think the bull should live, accept the buying opportunity was the 55s and move on.

Aztec

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Quote from: ElectricMucus on March 23, 2013, 10:01:31 AM

I hope there are more idiots like you. More comedy for me. Cheesy

Hmmm Big yellow ignore button beckons

ElectricMucus

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Quote from: Aztec on March 23, 2013, 09:54:57 AM

The rates been up and down like a whores knickers all day.

I hope a load of pansies shit themselves and sell and it goes down to about $40. I will sell my grandmothers prosthetic leg and buy like a maniac

I hope there are more idiots like you. More comedy for me. Cheesy

Aztec

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The rates been up and down like a whores knickers all day.

I hope a load of pansies shit themselves and sell and it goes down to about $40. I will sell my grandmothers prosthetic leg and buy like a maniac

Dargo

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Quote from: ?? on ??

Quote from: Dargo on March 23, 2013, 09:42:23 AM

Quote from: ?? on ??

I imagine a lot of the selling in the 50s was people getting squeezed out of their long positions on bitfinex, like me. Cry

I'm never going to sleep again...

Well IMO you should just hold, since you will likely just lose your coins by putting in stops, or selling b/c you are scared by the dip. But if you want to trade it, better to sell into extremely extended runs, like the one to 75, then put in buy orders for the dip. Buy the dips, don't sell into them.

I didn't want to sell. I was asleep and got squeezed out. The moment I woke up I went long for all I could. Looking at a nice profit, too.

Good, glad to hear it. But I assume you got "squeezed out" b/c you set a stop and it got hit?

Nemesis

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I know it feels awesome sold at 71 and bought at 55.

How about you bulls?

Dargo

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Quote from: ?? on ??

I imagine a lot of the selling in the 50s was people getting squeezed out of their long positions on bitfinex, like me. Cry

I'm never going to sleep again...

Well IMO you should just hold, since you will likely just lose your coins by putting in stops, or selling b/c you are scared by the dip. But if you want to trade it, better to sell into extremely extended runs, like the one to 75, then put in buy orders for the dip. Buy the dips, don't sell into them.

proudhon

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He'll be buying much lower, I think.

ineededausername

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bitcoin hundred-aire

Quote from: ?? on ??

Quote from: lebing on March 23, 2013, 08:43:27 AM

....
been that way for months. which made me so surprised how deep this one went. cant understand why people dont learn. Huh

Noticed the same, they seemed to be using the weekends to steady out sharp rises and not crash the price though. This one was huge and looked more like an attempt to cause a panic.

uh, not really, it wasn't huge at all

32/49 = 65%
52/75 = 69%

there's been worse

Vladimir

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Quote from: Herodes on March 23, 2013, 08:47:33 AM

Quote from: Vladimir on March 23, 2013, 08:28:56 AM

67-68 now.

You're so obnoxious. I'm glad you're not my brother, I would probably fight you constantly. Grin

indeed. Doing my best.

thezerg

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Quote from: lebing on March 23, 2013, 08:43:27 AM

Quote from: ?? on ??

Sphincter tearing dump got pwned, that's got to hurt

Was worried there could be a panic over the weekend but it looks more like 'great, gimmie cheap coins'.

been that way for months. which made me so surprised how deep this one went. cant understand why people dont learn. Huh

It didn't go deep. Look at the graph, it barely touched the top of the average trendline that has been set over the past few months, due to the massive upwards breakout that started on monday. This market is still driven buy buyers...

http://www.bitcoincharts.com/charts/mtgoxUSD#rg30zigHourlyztgSzm1g10zm2g25zv

Herodes

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Quote from: Vladimir on March 23, 2013, 08:28:56 AM

67-68 now.

You're so obnoxious. I'm glad you're not my brother, I would probably fight you constantly. Grin

lebing

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Enabling the maximal migration

Quote from: ?? on ??

Sphincter tearing dump got pwned, that's got to hurt

Was worried there could be a panic over the weekend but it looks more like 'great, gimmie cheap coins'.

been that way for months. which made me so surprised how deep this one went. cant understand why people dont learn. Huh

ElectricMucus

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Quote from: samson on March 23, 2013, 08:38:59 AM

Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

SELL SELL SELL! Cheesy

I'm hoping for $42

Monday dude, monday.

samson

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Activity: 2097

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Quote from: ElectricMucus on March 23, 2013, 08:33:58 AM

44 by Sunday

SELL SELL SELL! Cheesy

I'm hoping for $42

ElectricMucus

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44 by Sunday

SELL SELL SELL! Cheesy

bitarrow

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lol

Vladimir

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-

67-68 now.

Topic: How does it feel to sell 10-20 kBTC in low 50's couple of hours ago? (Read 4584 times)