SELL EVERYTHING!!!!! - page 3. | Bitcointalksearch.org

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: wndrbr3d on August 02, 2011, 02:39:28 PM

you can see today by the changes to the order book and market depth that people who were holding out for a rebound cashed out big time with like, ~10k sold @ 12.50. Market depth is out of whack now, so I'm curious to see what happens at the $11 buy wall.

It looks as if the 11$ wall is the last straw.. before a potential further fall.

indio007

full member

Activity: 224

Merit: 100

I don't think this a difficult market move to figure out. It's the beginning of the month. Bills came in i.e. electricity. People need to pay them. I have the funds to wait out the bottom feeders. Hopefully smarter investors are taking possession. Flush out the panickers I say.

On a side note , I think MTGOX has been getting gamed for awhile. Have they reinstituted the previous transaction fees yet?

GenTarkin

legendary

Activity: 2450

Merit: 1002

Quote from: GeniuSxBoY on August 02, 2011, 02:42:25 PM

ROFL ... thanks guys! Im a noob on market stuff, so this all learning for me =P

Zem

member

Activity: 70

Merit: 10

Quote from: GeniuSxBoY on August 02, 2011, 02:42:25 PM

Lol.

RandyMarsh

full member

Activity: 237

Merit: 100

Quote from: GenTarkin on August 02, 2011, 02:40:24 PM

When you guys refer to walls...when looking at mtgox live...those are the vertical spots right? So, for example there is a HUGE wall at 11$?

si

GeniuSxBoY

hero member

Activity: 616

Merit: 500

Zem

member

Activity: 70

Merit: 10

Correct sir.

GenTarkin

legendary

Activity: 2450

Merit: 1002

When you guys refer to walls...when looking at mtgox live...those are the vertical spots right? So, for example there is a HUGE wall at 11$?

wndrbr3d

hero member

Activity: 914

Merit: 500

you can see today by the changes to the order book and market depth that people who were holding out for a rebound cashed out big time with like, ~10k sold @ 12.50. Market depth is out of whack now, so I'm curious to see what happens at the $11 buy wall.

bitrick

member

Activity: 64

Merit: 140

Quote from: Edward50 on August 02, 2011, 02:27:24 PM

Quote from: Zem on August 02, 2011, 02:15:05 PM

Depends if that buy wall at 11.5 is fake or not.

What wall at 11.5? there is no wall?

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.
That seems the last wall that they can put up now, they are losing the battle for the single digits.

I think it is more complex than whether standing orders are fake or not.

For example, I had a small standing order at 11.52 and I cancelled it before we reached it. It is not because I have some devious plan for deception. I just saw a falling knife and decided not to try to catch it. I already bought some as it dropped and I am in no rush to buy more at this point. Might as well see where it stabilizes.

stergium

hero member

Activity: 655

Merit: 500

i see some ridiculous trading move at mtgox of 0.01~0.10 btc @ 11.68 .
is this bots trying to get a fix on the price?
in any case i would not sell under 15$ . its not my estimate that this is what bitcoin worth. no one can estimate that.
its my psychological barrier. Grin

Oldminer

legendary

Activity: 1022

Merit: 1001

Quote from: phorensic on August 02, 2011, 02:33:59 PM

Do you really think this affects the bitcoin world? Nerds don't take holidays, they are glued to their PC or cellphone 24 hours a day.

Yea IMO people throw away their money and investments when they go on holidays Roll Eyes

Bitcoinreminder.com

sr. member

Activity: 240

Merit: 250

Quote from: phorensic on August 02, 2011, 02:33:59 PM

Quote from: Bitcoinreminder.com on August 02, 2011, 02:32:36 PM

Don't be silly, in Europe the holidays season startet.. Many people are on holiday and so there are less new bid offers...

Do you really think this affects the bitcoin world? Nerds don't take holidays, they are glued to their PC or cellphone 24 hours a day.

^^ Maybe you are right... ^^

phorensic

hero member

Activity: 630

Merit: 500

Quote from: Bitcoinreminder.com on August 02, 2011, 02:32:36 PM

Don't be silly, in Europe the holidays season startet.. Many people are on holiday and so there are less new bid offers...

Do you really think this affects the bitcoin world? Nerds don't take holidays, they are glued to their PC or cellphone 24 hours a day.

Bitcoinreminder.com

sr. member

Activity: 240

Merit: 250

Don't be silly, in Europe the holidays season startet.. Many people are on holiday and so there are less new bid offers...

Zem

member

Activity: 70

Merit: 10

Quote from: Edward50 on August 02, 2011, 02:27:24 PM

Quote from: Zem on August 02, 2011, 02:15:05 PM

Depends if that buy wall at 11.5 is fake or not.

What wall at 11.5? there is no wall?

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.
That seems the last wall that they can put up now, they are losing the battle for the single digits.

There was a decent sized wall there. It was removed just a minute ago though.

Edit: it's back now, not very big though compared to the 11 wall.

FlipPro

legendary

Activity: 1764

Merit: 1015

The Presidents pen started this crash. The moment he signed the debt deal, people suddenly realized they liked their USD alot more than Bitcoins.

Edward50

hero member

Activity: 602

Merit: 500

Quote from: Zem on August 02, 2011, 02:15:05 PM

Depends if that buy wall at 11.5 is fake or not.

What wall at 11.5? there is no wall?

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.
That seems the last wall that they can put up now, they are losing the battle for the single digits.

Zem

member

Activity: 70

Merit: 10

New Low: 11.5

Oldminer

legendary

Activity: 1022

Merit: 1001

Quote from: FlipPro on August 02, 2011, 02:15:20 PM

Why would they go out of business? They have the equipment already, and remember most people who run these big operations are most likely doing it from a place where cheap electricity is available, so even if they are breaking even after electricity, why would they sell?

I honestly just don't see difficulty dropping to a reasonable point ever...

I'm not so sure all the big mining operations have the benefit of cheap electricity. Im sure there's a lot of players out there that are operating on slim margins @ $13. And no matter whether electricity is cheap or not, you still need to turn a profit to make mining worthwhile.

With regards difficulty - granted I don't suspect it will drop too much (if at all) but it could put the brakes on it a bit.

Topic: SELL EVERYTHING!!!!! - page 3. (Read 5970 times)