Wall Observer - MtGoxUSD wall movement tracker - page 132.

rpietila

donator

Activity: 1722

Merit: 1036

Yeah. Gox will come back with 1000 times better engine. Everybody's sell orders will be instantly executed. Price goes to $15.

Only as all sellers are satisfied, do they realize that the trades were actually executed, and they lost the coins.

Then the buyers see that orders go through, and raise the price to $150, which will become a new floor.

After 2 weeks the crash is forgotten except that some made a killing and some made a lot of dough.

As they say, you can't know if the trade was profitable until you squander all the proceeds.

Go to sleep, molecular. See you in 5 hours! Grin

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: justusranvier on April 11, 2013, 01:45:20 PM

Quote from: r.willis on April 11, 2013, 01:31:31 PM

There is first time for everything.

Yes, and they have already happened. Over and over again.

Note for those who are new to Bitcoin:

The odds of any third party that holds bitcoins on your behalf either stealing or losing them asymptotically approaches 100% the longer they remain in business.

Don't let it happen to you. Bitcoin allows you to be your own bank so don't risk your bitcoins by giving to other people to store.

+1000

Wuji

newbie

Activity: 56

Merit: 0

Quote from: justusranvier on April 11, 2013, 01:27:14 PM

Quote from: Krabby on April 11, 2013, 01:25:48 PM

Might sound silly but is there ANY chance mt.gox could shutdown and run off with our money worst case?

Why would you worry about that? Has anything like that ever happened before?

Let's see:

Savings and loans
Enron
Tyco
Worldcomm
Bernie Madoff
CMO's
AIG
Lehman Brothers
Sub prime mortgage crisis
Greek bonds
Cyprus banks (which started the massive run up past $50 on March 17th)

Perhaps they wont "run off" but, not knowing Japanese law I don't know what prevents them from shutting down and declaring bankruptcy or something similar. I'm not sure US citizens would have much luck getting their money back whatever the law is there.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: lebing on April 11, 2013, 01:28:31 PM

Quote from: hmmmstrange on April 11, 2013, 01:22:40 PM

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

I agree on diversification, but exploiting a weakness because they have one, is just fucked up. Unfortunately if you hurt gox at this point, that also means you hurt bitcoin in a big way.

It's also not going to hurt. I'm expecting the new engine will be orders of magnitude (probably 2-3 orders) faster than the old one.

So guys. What's the story on why he halted trading to abruptly?

DougTanner

sr. member

Activity: 280

Merit: 250

Bitstamp crash is over, but it looks like it pulled down the other exchanges with it (except Canada holds strong).

Luno

sr. member

Activity: 504

Merit: 250

Quote from: r.willis on April 11, 2013, 01:31:31 PM

Quote from: justusranvier on April 11, 2013, 01:27:14 PM

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

If they had spend costumer deposits making the amounts on peoples accounts not backed by real money and BTC, then yes, but that could have been going on for months on the way up without anyone knowing. So if that's the case, your money could have been stolen weeks ago, not today. they would have used new $$ deposits to pay the ones cashing out until they started to pay out more out than they got in, a real ponzi.

However that would still be fraud in the real world taking peoples money in a scam. Dealing in Bitcoins does not protect the owners of an exchange from the law.

that has never happend in an exchange, true, but in numerous other Bitcoin "businesses" around here.

Krabby

sr. member

Activity: 644

Merit: 250

https://primedao.eth.link/#/

What time does the exchange open?
Will you guys be attempting to snipe?

DougTanner

sr. member

Activity: 280

Merit: 250

Just picked up a handful of Bitcoins for $50. Wish I had more fiat there, but I guess so does everyone.

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: r.willis on April 11, 2013, 01:31:31 PM

There is first time for everything.

Yes, and they have already happened. Over and over again.

Note for those who are new to Bitcoin:

The odds of any third party that holds bitcoins on your behalf either stealing or losing them asymptotically approaches 100% the longer they remain in business.

Don't let it happen to you. Bitcoin allows you to be your own bank so don't risk your bitcoins by giving to other people to store.

prof7bit

hero member

Activity: 938

Merit: 500

https://youengine.io/

Quote from: sd on April 11, 2013, 01:40:58 PM

Quote from: r.willis on April 11, 2013, 01:31:31 PM

Quote from: justusranvier on April 11, 2013, 01:27:14 PM

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

It has happened before. If you had access to a few hundred million in hard to trace digital cash you would be tempted wouldn't you?

For all we know the mtgox crew have brought their own private island off a country with a negotiable justice system and are flying out now on their private jet.

No. Everybody knows they already have left the earth a while ago and are operating the business from low lunar orbit, hence the huge lag and the sporadic downtimes that coincide with the moon phases.

lebing

legendary

Activity: 1288

Merit: 1000

Enabling the maximal migration

$55 coins on bitstamp right now... lucky you if you have fiat there.

sd

hero member

Activity: 730

Merit: 500

Quote from: r.willis on April 11, 2013, 01:31:31 PM

Quote from: justusranvier on April 11, 2013, 01:27:14 PM

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

It has happened before. If you had access to a few hundred million in hard to trace digital cash you would be tempted wouldn't you?

For all we know the mtgox crew have brought their own private island off a country with a negotiable justice system and are flying out now on their private jet.

DoomDumas

legendary

Activity: 1002

Merit: 1000

Bitcoin

Quote from: Krabby on April 11, 2013, 01:25:48 PM

Might sound silly but is there ANY chance mt.gox could shutdown and run off with our money worst case?

Why not ? They have enought cash to leave, get new ID, chirurically change their face and enjoy a multi million retirement !

prof7bit

hero member

Activity: 938

Merit: 500

https://youengine.io/

Quote from: laughingbear on April 11, 2013, 01:29:08 PM

Quote from: hmmmstrange on April 11, 2013, 01:22:40 PM

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

with zero fees, unless mtgox has GREATLY improved the site, once they open it will be unsaleable in an instant.

You can only sell or buy as many bitcoins as you actually have funds in your account, no matter how low the fees.

420

hero member

Activity: 756

Merit: 500

Quote from: Zomdifros on April 11, 2013, 04:36:43 AM

Quote from: Gavin Andresen on July 09, 2010, 06:59:35 AM

Bitcoin will get mentioned someplace with lots of readers, a bunch of those readers will like the idea and try to buy Bitcoins, their price will rise which will draw even more people to "invest", which will drive the price up even more... until people decide that the price isn't going to rise any more and everybody rushes to sell before the price drops. I predict there will be between one and five Bitcoin bubbles (price will double or more and then crash back down below the starting price) in the next four years .

So, is this the second 50% crash or am I missing one here?

right except the price crashes to ABOVE the starting price

DougTanner

sr. member

Activity: 280

Merit: 250

Bitstamp crashing big-time. Looks like one big market-order.

r.willis

jr. member

Activity: 42

Merit: 11

Quote from: justusranvier on April 11, 2013, 01:27:14 PM

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

Krabby

sr. member

Activity: 644

Merit: 250

https://primedao.eth.link/#/

Quote from: TheKoziTwo on April 10, 2013, 01:25:25 PM

I would just like to say, this is the funniest thing ever.

laughingbear

hero member

Activity: 622

Merit: 500

www.cryptobetfair.com

Quote from: hmmmstrange on April 11, 2013, 01:22:40 PM

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

with zero fees, unless mtgox has GREATLY improved the site, once they open it will be unsaleable in an instant.

lebing

legendary

Activity: 1288

Merit: 1000

Enabling the maximal migration

Quote from: hmmmstrange on April 11, 2013, 01:22:40 PM

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

I agree on diversification, but exploiting a weakness because they have one, is just fucked up. Unfortunately if you hurt gox at this point, that also means you hurt bitcoin in a big way.

Topic: Wall Observer - MtGoxUSD wall movement tracker - page 132. (Read 1811564 times)