Topic: Was the GOX FUD day bullish or bearish? (Read 2284 times)
Congratulations mat, you have managed to establish that I would make a shitty trader. Which is why I don't trade. But coming from you, someone who could have been a millionaire if you had hodlet when you first got into bitcoin, being called a clown is a compliment. Just makes me more confident in my overall strategy.
The way we recovered back to 700ish is bullish.
The whole gox stuff which still isnt figured out is bearish..
The whole gox stuff which still isnt figured out is bearish..
Wrong perspective. It's not "after 3 months..." it's "I managed to grab this big a stash before the next rally". Anything below the next big crash is cheap. You know this, the charts are easy enough to decipher. You just have some kind of mental block or something. The future is bright.
Are you perhaps the biggest clown on the whole forum? Possibly, although to be fair, there are quite a few contenders. I hope you don't mind but I have had a little squizz through your post history and hae compiled a small compendium here. Reading through the absolute drivel you have typed only for real events time and time again to have proven you to be a total donkey clown retard. One of the most amusing posts of yours on the single random page of your history I looked through, was you slating Edward50 when he was advising people to take profits at over $1000. YOU DAMN CLOWN!
I'm a buy & holder. My last batch was at 1130. And I don't regret it.
I said from the start that it probably won't go below 700. It did, briefly, but it's back over the 750 mark already. And looks to be rising. Don't think it will go much lower from here if at all, and another week or so should see us back near 1k.
I wouldn't even call this a crash, it's normal and expected for these events to happen. A crash to me is where b&h turns out to be a bad investment over more than at least a few weeks. Hasn't happened.
I wouldn't even call this a crash, it's normal and expected for these events to happen. A crash to me is where b&h turns out to be a bad investment over more than at least a few weeks. Hasn't happened.
Don't think you will ever get coins for ~700 again, sorry to burst your bubble duder.
Stamps over 1k again, USD average is almost there too. Crisis over.
Oh it will correct alright. To maybe $7000. And then back up a week later.
and there is more...much much much more...but I think we all get the picture.
honestly with bitcoin, the historically easiest and smartest trade to do is just trade your dollars for BTC when ready and 'sit in' like you say
that takes some amount of knowledge to realize
it's not really luck, it's just resolve if they know why they're sitting
that takes some amount of knowledge to realize
it's not really luck, it's just resolve if they know why they're sitting
All depends when you get in on a speculative basis really. I bought my first speculative Bitcoins in mid-late November. They cost a bit more than $700. At this point in time, some 3 months down the line, I would actually be underwater as opposed to having taken thousands of the table......
.....and anyone approaching Bitcoin with that attitude right now, would be nuts in my opinion. Scary uncertain times directly ahead for Bitcoin.
honestly with bitcoin, the historically easiest and smartest trade to do is just trade your dollars for BTC when ready and 'sit in' like you say
that takes some amount of knowledge to realize
it's not really luck, it's just resolve if they know why they're sitting
that takes some amount of knowledge to realize
it's not really luck, it's just resolve if they know why they're sitting
All depends when you get in on a speculative basis really. I bought my first speculative Bitcoins in mid-late November. They cost a bit more than $700. At this point in time, some 3 months down the line, I would actually be underwater as opposed to having taken thousands of the table......
.....and anyone approaching Bitcoin with that attitude right now, would be nuts in my opinion. Scary uncertain times directly ahead for Bitcoin.
honestly with bitcoin, the historically easiest and smartest trade to do is just trade your dollars for BTC when ready and 'sit in' like you say
that takes some amount of knowledge to realize
it's not really luck, it's just resolve if they know why they're sitting
edit: in which case, I point to the historical 3-12% USD inflation rate per year and
https://bitcointalksearch.org/topic/bitcoin-supernode-system-232802
that takes some amount of knowledge to realize
it's not really luck, it's just resolve if they know why they're sitting
edit: in which case, I point to the historical 3-12% USD inflation rate per year and
https://bitcointalksearch.org/topic/bitcoin-supernode-system-232802
And the guy who turned 1000$ investment for 7 BTC from 30 March 2013 to close to 400 BTC these days while having maybe 2 days of being an angry dick in that time compared to each and every minute of your Bitcoin journey. Ido understand it's shit that you sold Bitcoins at 10$, but shit happens, cheer up 
Life can be great, you just have to make it like that, have some sex or something, get that frustration out of yourself
Life can be great, you just have to make it like that, have some sex or something, get that frustration out of yourself
Don't believe you. Bitcoin can only ever go up in your head. Which means that you aint trading.....and even if you were trading, you would require near perfect knowledge of future market behaviour to turn 7 BTC into 400 BTC in less than a year and man oh man, that is something you have proven time and time again to completely lack. You may have gotten in early, and you might be up a packet. But please don't lie about your trading prowess when it is so patently obvious you completely lack the ability to do anything but sit in luck out big style.
mat you seem to get so personal 
pisses me off reading the same old drivel from the same old mofos time and time again despite events proving them to be donkeys every single time.
this is the speculation forum. most people here have money or could have money riding on Bitcoin and this is exactly the sort of bollox when accumulated in the mind en-masse, that causes people to lose money.
if I was him, I would be too embarrassed to make any speculative Bitcoin statement at all.
Mat, the problem with this post is that you are talking about the guy who never really cared too much about Bitcoin price itself, only about the number of Bitcoins I own as I realized that's the win formula long time ago.
And the guy who turned 1000$ investment for 7 BTC from 30 March 2013 to close to 400 BTC these days while having maybe 2 days of being an angry dick in that time compared to each and every minute of your Bitcoin journey. Ido understand it's shit that you sold Bitcoins at 10$, but shit happens, cheer up
Life can be great, you just have to make it like that, have some sex or something, get that frustration out of yourself
This may be overall nuetral or end up as slightly bearish once the mania of the bounce is over. Some of the speculators might find it bullish that there was support in the markets and that some coins may have switched to strong hands. However, from a merchant perspective and from the perspective of financial institutions that were looking into bitcoin, this may be a wake up call that the markets are still highly volatile and manipulable, and that bitcoin is in fact a SOFTWARE, in beta mode, which may be susceptible to bugs and failures. They must trust the 'dev team' (an element of centralization by the way) who they don't know to be able to patch these problems, and do in a timely manner, or all is lost. Someone might think twice about adopting bitcoin now.
mat you seem to get so personal
Mat is always personal, I told him once already that his health is going to get ruined with his too emotional views about short-time Bitcoin price if he continue like this.
But he doesn't want to listen
mat was on my ignore list last year but i took him off a few weeks ago because i kept seeing his ignored messages everywhere and it was too bothersome to have so many bumps in my reading. what to do what to do 
Yes, sometimes Mat constructs entire posts using just ad hominems. What a lazy person! I'm glad I'm on his ignore list 
I mean, the proper thing to do, if you think everyone you are conversing with is an idiot and not worth a logical reply, is to simply not respond. Instead, he wastes both our time and his time with meaningless posts calling names and insulting other posters with the same tired old cliches.
And by the way, this is NOT silk road crash all over again, we are not going '2 da moon' right away, so don't get y'alls' hopes up.
I mean, the proper thing to do, if you think everyone you are conversing with is an idiot and not worth a logical reply, is to simply not respond. Instead, he wastes both our time and his time with meaningless posts calling names and insulting other posters with the same tired old cliches.
And by the way, this is NOT silk road crash all over again, we are not going '2 da moon' right away, so don't get y'alls' hopes up.
mat you seem to get so personal
pisses me off reading the same old drivel from the same old mofos time and time again despite events proving them to be donkeys every single time.
this is the speculation forum. most people here have money or could have money riding on Bitcoin and this is exactly the sort of bollox when accumulated in the mind en-masse, that causes people to lose money.
if I was him, I would be too embarrassed to make any speculative Bitcoin statement at all.
mat you seem to get so personal
I'ts pretty much SR flash crash all over again. We all know what happened after that
Bears were desperate to restock and I wouldn't at all exclude the option that Gox were just playing the market for themselves or some big client.
Bears were desperate to restock and I wouldn't at all exclude the option that Gox were just playing the market for themselves or some big client.
The lady doth protests too much methinks.
Go an point me to a single time when anything you have said has rung true since 2014.
It's bullish in the long-term sense, meaning, even an insane price drop from outrageous FUD was recovered from in less than a day. If we're talking day-to-day, it's neutral. We're back at $700. It's like nothing happened, except now Gox's reputation is even worse. Move along, now...
It's also bullish because every time there's such a large flash crash, more people are reminded to keep low buy orders on exchanges... which means that there is more buy pressure below and is thus harder for whales to fuck shit up with massive sell orders.
It's also bullish because every time there's such a large flash crash, more people are reminded to keep low buy orders on exchanges... which means that there is more buy pressure below and is thus harder for whales to fuck shit up with massive sell orders.
I'ts pretty much SR flash crash all over again. We all know what happened after that
Bears were desperate to restock and I wouldn't at all exclude the option that Gox were just playing the market for themselves or some big client.
I think a lot depend on what happens next. If MtGox sticks to it is false statements and claims they "can't" enable withdraws until the fatally flawed bitcoin protocol is hard forked to be more secure well that means at a minimum 6 to 12 months of no withdraws on MtGox. I can't possible see how that is bullish. The fact that a few "crypto nerds" know that isn't true isn't going to do much with month after month of news stories about the broken bitcoin protocol and the largest exchange unable to pay users millions of dollars in currency and bitcoins owed.
The foundation could sue them for slander?
I am not a laywer but I don't think so. The foundation doesn't "own" Bitcoin. In a sad case of irony, it is actually MtGox who owns the trademark for "Bitcoin". That trademark is probably worth more than the rest of the company combined at this point so maybe they will do the right thing in order to protect the value of their property.
Incompetence could be a valid defense anyways. It isn't slander to make an incorrect statement. It is slander to make a statement you know is incorrect. So if they are too incompetent to understand their claim is false, they can't be guilty. I don't think it would be that hard for their lawyer to prove their incompetence in court. See there are advantages to being dumb.
When some of us were saying that Bitcoin community should fight MtGox claiming trademark for Bitcoin, lot of oldtimers here said it's better them to own it than anyone else.
Bullish. Coinbase price is higher because they ran out of USD on stamp, and its the only place where you can buy instantly with bank funds. Predicting rise when today's wires arrive tomorrow.
It's bullish in the long-term sense, meaning, even an insane price drop from outrageous FUD was recovered from in less than a day. If we're talking day-to-day, it's neutral. We're back at $700. It's like nothing happened, except now Gox's reputation is even worse. Move along, now...
It's also bullish because every time there's such a large flash crash, more people are reminded to keep low buy orders on exchanges... which means that there is more buy pressure below and is thus harder for whales to fuck shit up with massive sell orders.
It's also bullish because every time there's such a large flash crash, more people are reminded to keep low buy orders on exchanges... which means that there is more buy pressure below and is thus harder for whales to fuck shit up with massive sell orders.
BITSTAMP seems to think that this is bullish. I'm not sure so much about the other exchanges, but the action on Bitstamp and its order book is unreal. My guess is there's some investment firm or whale that operates on Bitstamp and just scoops up tons of coins during crashes like these (silk road, china, etc, and all corrections during november rally).
There are some massive buy-in orders been going in on Bitstamp. One just a moment ago for about 700 BTC. Moved the price up $10 to just over $700.
However, Bitstamp is where all the massive sell-off action has been occurring as well (BTC-E 8K sell order not withstanding). From the ones I have witnessed, the Sell-Offs have all been much larger than the buy-ins. Still has to breach $720 and to have more confidence, the $750 level, and then test these levels as supports convincingly before I could have any bullish thoughts on Bitcoin myself.
BITSTAMP seems to think that this is bullish. I'm not sure so much about the other exchanges, but the action on Bitstamp and its order book is unreal. My guess is there's some investment firm or whale that operates on Bitstamp and just scoops up tons of coins during crashes like these (silk road, china, etc, and all corrections during november rally).
You are right about the investment firm or fund. "He" is buying really crazy - at $800 level, $700 and now $600. Everytime the price went few percentages down and there was few houndreds BTC wall he bought it out.
BITSTAMP seems to think that this is bullish. I'm not sure so much about the other exchanges, but the action on Bitstamp and its order book is unreal. My guess is there's some investment firm or whale that operates on Bitstamp and just scoops up tons of coins during crashes like these (silk road, china, etc, and all corrections during november rally).
even if btc at gox are presumed "lost," can legal action be taken against them from the USD side of things?
also, addressing the two possible roads for gox to take from some other thread I saw but can't seem to find, they proposed:
1. If gox opens USD withdrawal, people mass sell BTC on gox to have USD to withdraw and price plummets
2. If gox opens BTC withdrawal, people mass buy BTC on gox and price skyrockets on gox (maybe driving up other echanges) but then all those BTC hit the other exchanges as people withdraw them and the price spike is followed by a equally large crash
I think in either case, or if they open withdrawals of both somehow, the end result will be a price drop (whether immediate or after an initial spike, as in case 2). But with gox claiming the problem is the fault of the protocol, perhaps they wont open withdrawals of either for some months. so the real question is, what will having 68,000+ BTC locked up do to the overall market price? probably push it up...less supply, same demand (or more demand with this low-ish price)
also, addressing the two possible roads for gox to take from some other thread I saw but can't seem to find, they proposed:
1. If gox opens USD withdrawal, people mass sell BTC on gox to have USD to withdraw and price plummets
2. If gox opens BTC withdrawal, people mass buy BTC on gox and price skyrockets on gox (maybe driving up other echanges) but then all those BTC hit the other exchanges as people withdraw them and the price spike is followed by a equally large crash
I think in either case, or if they open withdrawals of both somehow, the end result will be a price drop (whether immediate or after an initial spike, as in case 2). But with gox claiming the problem is the fault of the protocol, perhaps they wont open withdrawals of either for some months. so the real question is, what will having 68,000+ BTC locked up do to the overall market price? probably push it up...less supply, same demand (or more demand with this low-ish price)
We are cutting Gox free and the price on other exchanges is almost back to $700 again... This is really good news 
I think a lot depend on what happens next. If MtGox sticks to it is false statements and claims they "can't" enable withdraws until the fatally flawed bitcoin protocol is hard forked to be more secure well that means at a minimum 6 to 12 months of no withdraws on MtGox. I can't possible see how that is bullish. The fact that a few "crypto nerds" know that isn't true isn't going to do much with month after month of news stories about the broken bitcoin protocol and the largest exchange unable to pay users millions of dollars in currency and bitcoins owed.
The foundation could sue them for slander?
I am not a laywer but I don't think so. The foundation doesn't "own" Bitcoin. In a sad case of irony, it is actually MtGox who owns the trademark for "Bitcoin". That trademark is probably worth more than the rest of the company combined at this point so maybe they will do the right thing in order to protect the value of their property.
Incompetence could be a valid defense anyways. It isn't slander to make an incorrect statement. It is slander to make a statement you know is incorrect. So if they are too incompetent to understand their claim is false, they can't be guilty. I don't think it would be that hard for their lawyer to prove their incompetence in court. See there are advantages to being dumb.
I think a lot depend on what happens next. If MtGox sticks to it is false statements and claims they "can't" enable withdraws until the fatally flawed bitcoin protocol is hard forked to be more secure well that means at a minimum 6 to 12 months of no withdraws on MtGox. I can't possible see how that is bullish. The fact that a few "crypto nerds" know that isn't true isn't going to do much with month after month of news stories about the broken bitcoin protocol and the largest exchange unable to pay users millions of dollars in currency and bitcoins owed.
The foundation could sue them for slander?
I think a lot depend on what happens next. If MtGox sticks to it is false statements and claims they "can't" enable withdraws until the fatally flawed bitcoin protocol is hard forked to be more secure well that means at a minimum 6 to 12 months of no withdraws from MtGox. I can't possible see how that is bullish. The fact that a few "crypto nerds" know that isn't true isn't going to do much with month after month of news stories about the broken bitcoin protocol and the largest exchange unable to pay users millions of dollars in currency and bitcoins owed.
On the other hand if MtGox quiety retracts their false claims, slinks of into a corner and re-enables withdraws then it could be bullish.
On the other hand if MtGox quiety retracts their false claims, slinks of into a corner and re-enables withdraws then it could be bullish.
My hope is that gox closes down. Don't care how that plays out, it would be better for the long term if this kind of shady crap was removed from the bitcoin ecosystem.
Are you infact not a person but a Bitcoin 2 Da Moon Artificial WebBlogger bot?
That would explain the complete lack of rational thinking in practically everything you have to say.
Just like a bot jumbling sentences together that point towards a desired conclusion.
the fact that price is creeping up since the initial drop is very telling. im just wondering if some whale is waiting for price to return to a certain point before they also dump
LOL.
Neither, it's still ongoing. If they open bitcoin withdrawals again the price will rocket TO DA MOON (sorry). Right now the price mostly depends on their next move. Even no move counts as a move in a situation like this.
the fact that price is creeping up since the initial drop is very telling. im just wondering if some whale is waiting for price to return to a certain point before they also dump
Neither, it's still ongoing. If they open bitcoin withdrawals again the price will rocket TO DA MOON (sorry). Right now the price mostly depends on their next move. Even no move counts as a move in a situation like this.
My hope is that gox closes down. Don't care how that plays out, it would be better for the long term if this kind of shady crap was removed from the bitcoin ecosystem.
My hope is that gox closes down. Don't care how that plays out, it would be better for the long term if this kind of shady crap was removed from the bitcoin ecosystem.
Dunno about bullish or bearish for the market in the short term. I think they may still have the capacity to balls things up for a while yet.
Gox essentially shooting itself in the head has to be good for credibility and stability in the greater picture. I hope none of their customers get burned.
Gox essentially shooting itself in the head has to be good for credibility and stability in the greater picture. I hope none of their customers get burned.
Today we had the largest and oldest bitcoin exchange essentially attack and blame the bitcoin protocol for their failures together with a massive "fat finger" sell/dump for a +80% drop.
The end result was the price quickly recovered to where it was at the start of the day (at several hundreds of dollars valuation).
I think this is bullish, is shows how more and more people are having trust in the system and understand that bitcoin entities are separate from the bitcoin network.
In the end the block chain continues as is, there is massive hashing power protecting the network, all transactions and bitcoin ownership fully preserved on the blockchain (provided you take control of your own money and not let a 3rd party like gox have your money). This is the core concept of bitcoin and nothing has effected that.
This is all bullish IMHO
The end result was the price quickly recovered to where it was at the start of the day (at several hundreds of dollars valuation).
I think this is bullish, is shows how more and more people are having trust in the system and understand that bitcoin entities are separate from the bitcoin network.
In the end the block chain continues as is, there is massive hashing power protecting the network, all transactions and bitcoin ownership fully preserved on the blockchain (provided you take control of your own money and not let a 3rd party like gox have your money). This is the core concept of bitcoin and nothing has effected that.
This is all bullish IMHO
Just like that.
I think it was immensely bullish for the medium term! Really nice media attention saying how bad Bitcoin has been tanking and how the fundamentals have been depressed by bad news. It may bring in a lot of people that had realised Bitcoin was something big long ago but that were feeling they failed the opportunity to speculate a bit price wise.
Also the epic panic sell seems to have brought some feeling of capitulation on what was looking like a bad technical situation and (yes I'll say it) shaken off some "weaker hands"...
I think it was immensely bullish for the medium term! Really nice media attention saying how bad Bitcoin has been tanking and how the fundamentals have been depressed by bad news. It may bring in a lot of people that had realised Bitcoin was something big long ago but that were feeling they failed the opportunity to speculate a bit price wise.
Also the epic panic sell seems to have brought some feeling of capitulation on what was looking like a bad technical situation and (yes I'll say it) shaken off some "weaker hands"...
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