Topic: They/he/she/it is doing it again - page 2. (Read 2362 times)

If someone is dumping to crash the price and there's a DDOS, it's because they're buying back in. Otherwise you'd just dump it all and leave. Why the DDOS? Why care how low it goes? If you're forcing it as low as possible, that's so you can buy back in.

Accept the fact people are going to run the price up and they'll run it back down. Then run it back up. That's how they make money. They won't kill the golden goose, they're making too much money. You can't fight the swings. If someone wants to push the price down and they have the coins/money, they will. There's no stopping it. If someone has the cash and wants to jack the price up, they will. This market is mostly supply and demand. If you have the means, you can push BTC whereever you want. Price starts dropping, people sell. Price starts rising, people buy. That isn't going to change.

You can feel good that people are making millions off it, and they're going to make sure it stays around if it's within their power (MtGox is at the top of that list, and they have crazy amounts of influence on the price/market).

Um, "Don't sell if price skyrockets" is stupid advice simply because after seeing 2 major crashes (June 2011 and recently) most people ARE going to sell.

I have a better idea: Sell to strength. For people who are worried about seeing their portfolio become HUGE and then collapsing, just sell to strength. Make a rule you are comfortable with - perhaps every time price doubles, sell 5-10% of your coins (an amount you determine, depending on the size of your portfolio.) You increase your standard of living, and you contribute to a more stable price rise. And, if it does crash, you have already cashed out many, many times more than your initial investment, so no worries.

For people who sell OTC via bitcoin-otc, LocalBitcoins, or other services - it is even easier because you simply have to replenish less of your supply to achieve the same result.

Apparently it's in tonight's episode.  Already aired it seems after a quick glance to the cable guide.  Should re-air at 11pm EST though.  Or just wait.  I'm sure someone will DVR it and put the Bitcoin clip up within a day or two, tops.

Colbert talked about bitcoin?

You want the same thing as the supposed manipulator, and Gox has supposedly been working on the solution to the DDoS, if they implement what they said they would they should be much harder to DDoS. 

OK, so it looks like whoever pumped up the currency the first time is going at it again.  This is not a normal recovery.  And I fear Bitcoin's hopes of being a currency may not survive a third major crash.  So here's the thing: we can stop this thing.  In the meantime, buy/trade/sell, I don't care.  But when the ddos'ing starts again soon, and this big entity dumps a whole sack of coins and brings down the price by $40, please, please don't panic sell.  If we don't panic, it will recover and then keep going up.  

The fundamentals are there, merchants right and left are picking up Bitcoin -- it's all over the fuckin' evening news and The Colbert Report, for God's sake.  A $1000 coin is in sight.  But we'll never get there if we let this entity keep dropping our holdings like flies each time he ddos'es the exchanges and dumps a couple of thousand coins.

Just stay calm when the time comes.  You'll know it when you see it this time.  Until then, day trade till your heart's content!

PS: You don't have to run go sell your Bitcoins now, you'll know when it happens next.  All the exchanges will be offline or hard to reach.  My guess is that they'll probably get it up to at least $200 before they try again.  bitashley's approach (see below) is probably the smartest strategy against this.