Topic: RALLY! - page 30. (Read 63123 times)

+1000.
No one could have said it better.

+1

One justification for the sell-off seems to be that "The Good Wife on that TV isn't going to do anything" which, honestly I thought was going to be true.  I had pulled my investments earlier for that reason expecting a massive disappointment and way over-hyped speculation.

But then I saw the episode.

I didn't count exactly, but the word "bitcoin" was said something like 40 times.  The show featured a full-on introduction video to what bitcoin is, all while portraying a bitcoin as something cool that forward-thinking young interracial couples know about.

In addition, the word bitcoin was spread far and wide into a show with a high-brow target audience.  The word bitcoin graced the front page of the New York Times again last night.  Many articles with the word "Bitcoin" directly in the title have spread to newspapers and reviews, Huffington Post TV, for example.  Jim Cramer spoke the word "bitcoin" and said it was not a "currency."  All of this happened because of the show.

Up until now, many people may have heard about bitcoin, but just last night and today, a "blanket promotional advertising campaign" hit.  It was probably the first time many people who have heard the word before have been reinforced with the word bitcoin, and again, it was pounded into their head.  Perfect advertising strategy.  We could not have bought better product placement.

So to whomever is thinking that little TV thing was a flash in the pan, consider the depth of the exposure that was caused.  It may look like a massive sell-off, and many people are looking to protect their money, but in the long term I think that's foolish.  Bitcoin just received a massive public awareness push.

That being said.  Yea, manipulators.

+1

I think that this situation serves as a great reminder to everyone how deceiving the order book can be. I've seen fake walls many times but this is the biggest manipulation move in the history of Bitcoin. At least I have never seen such a rapid switch with so large amount of money. It's a good learning process for everyone.

This is flawed thinking in my opinion. The attention Bitcoin got in May and June brought many of us here and we are still here. Bitcoin doesn't need the kind of boost it got last time to get to $30 and beyond because it already has a significant userbase and community around it. Also, the market is still so small that only one or two major players could change everything. This is why CES might prove quite significant in the long run.

The effect we had from the Good Wife episode is unknown yet but what we do know is that google search for "bit coin" spiked massively and reached 6th place in google hot trends list. We have significant press all the time btw, just 3 weeks ago we had the news about Bitcoin's comeback. And these news won't stop, in fact it's very likely that we will be seeing plenty of press in 2012.

And sometimes it's the small press that impresses people. As a long time poker pro (at least part-time) I've always thought that gambling is one of the most potential markets for Bitcoin. This very recent article basically mirrors my thinking and got me very excited: http://www.osga.com/artman/publish/article_9969.shtml

I keep thinking about CES and The Good Wife, and how they've brought publicity to Bitcoin, but what about the hundreds upon hundreds of news articles written about Bitcoin in the middle of last year?  That brought us a rally to $30, but that was HUNDREDS of articles, not just a TV show and a conference.

I'll still bullish, but mainly because I think some of the folks from CES will take this seriously, and maybe, just maybe, a large company will embrace Bitcoins.  We'll see what the future holds...

I have never before seen such obvious manipulation of the market. And not just general manipulation, large scale manipulation done by one individual or group. I don't know who or what is doing it, but there is clearly a purpose behind it. I think that right now the purpose is to put everything to the table in one desperate attempt to cause a small crash and get even more coins at cheap prices, before it's simply too late.

It's a good strategy actually but I would be careful. It doesn't matter if you have BTC or USD, be careful right now. This exact same manipulator has a very large amount of USD as well, he can reverse the situation at any time.

I have to say that I kinda forgot how deceiving the orderbook can be, how easily a big player can manipulate it. This proves it once again. It's a good reminder.

For me personally this situation causes me to think more about the fundamentals, which are looking very good right now. Bitcoin has had some good coverage in a wide variety of media lately and basically no serious bad news. This is why there is no reason to think anything other than this being a blatant manipulation attempt. We are definitely taking a dip and the correction could even be healthy in a way but I'm willing to bet that it's very temporary.

$6 ish.  Definitely no lower than $5.50.  Then, HUGE correction upward.

After seeing the depth shift while I was working..

I need a 420 break... shit brother!

I liquidated, loss of $1.24...   

Could have been worse

If I told you, I would have to kill you.  And then buy in at that price.

yup, they have good volume of BTC and USD to shake off all weak hands before new money from CES+TV will reach exchanges

had we eaten up that 3k, looked like a moonlight drive to $8.00.

Is it 4:20 yet?

Someone is really playing this market and now want to buy cheaper

Still a lot of sub-7 coins

Agreed the order book at Gox has changed dramatically.

I noticed yesterday, that there were 50k BTC to $9.91 and 50k worth to $6.4. It was very lopsided. Right now is a different story. And, the $1.28M yesterday, has been reduced to $972,xxx in bids. The full view of goxlive looks inverted from 24hrs ago.

How low you think we're gonna go this time?

+1

WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!