Quote
WTF JUST HAPPENED
I think it's called a bull trap. Time will tell.
Topic: WTF JUST HAPPENED (Read 2291 times)
I think it's called a bull trap. Time will tell.
Not if you're the one causing it. There have been multiple mini-dumps of around 1000 to 2500 coins in the last few days. If the goal was to cash out for the greatest amount of fiat, that's how you do it.
I have no idea how dumping something like that could give them maximum cash. It doesn't make sense.
You have 10 bitcoins that you're riding up out of a total of 30 out there.
You dump all 10 of them in one second, no buyers, price starts dropping like a rock by the time you unload them you're selling them for 30% lower than what you had them initially for.
You sell 3 for 10
You sell 4 for 8
You sell 2 for 7
Rather than sell 2 for 10 the first day, 2 for 10 the second and 2 for 11 the third... you see what I mean? It doesn't make sense.
1) someone discovered 20k BTC in a basement computer and yelled "I'm rich"!
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
http://en.wikipedia.org/wiki/False_choice
Option 4 is someone saw the price rise by 10%, day in day out and thought this is as good as it gets, at least in the short term. They cashed out their profits before anyone else. Others saw the price drop and followed, sending it plunging.
Which would qualify it as one hell of a dumb move. Had they divested themselves of the same amount over several days they would've ended up with about 15% more fiat. Doesn't really compute.
But if you're competing against an unknown number of others? Reverse Mexican Stand-off: whoever shoots first, wins.
Not if you're the one causing it. There have been multiple mini-dumps of around 1000 to 2500 coins in the last few days. If the goal was to cash out for the greatest amount of fiat, that's how you do it.
WTF JUST HAPPENED?
We now have 1 less early adopter.
We now have 1 less early adopter.
Wasn't me. I was broken last week.
a bunch of us just realized that we missed the crash because the price advertised on the top of the site isn't the actual price at all.
I'm telling you guys, Mt.Gox's thing isn't the only reliable ticker... I put alot of effeort into http://www.ounce.me .. though it takes a weighted average of all the bigger exchanges (campbx, mtgox, etc) I believe it's the most reliable... everyone that was staring at the ticker there saw the flash crash.
I see what you're doing... But I like the site, so I approve.
1) someone discovered 20k BTC in a basement computer and yelled "I'm rich"!
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
http://en.wikipedia.org/wiki/False_choice
Option 4 is someone saw the price rise by 10%, day in day out and thought this is as good as it gets, at least in the short term. They cashed out their profits before anyone else. Others saw the price drop and followed, sending it plunging.
Which would qualify it as one hell of a dumb move. Had they divested themselves of the same amount over several days they would've ended up with about 15% more fiat. Doesn't really compute.
We now have 1 less early adopter.
LOL
But I think those getting in now could still be early adopters
https://bitcointalksearch.org/topic/where-is-bitcoin-in-the-technology-adoption-lifecycle-113606
WTF JUST HAPPENED?
We now have 1 less early adopter.
We now have 1 less early adopter.
I wanna know how we're doing 25% variations hourly.
https://bitcointalksearch.org/topic/m.1695976some details for you
to bad bad for the attackers by the time mtgox lag was fully cleared the price already went up and there was only few long squeeze
I wanna know how we're doing 25% variations hourly.
Relatively poor liquidity, that's how.
I guess that theory would also apply to the fact that the price went from $13 to $95 in less than 3 months too?
lol troll harder
4) Someone bought 300K+ BTC at $2 and is liquidating some fiat so they can pump it up again.
Nothing new here its been going on since we hit $10 (nothing but a hunch to back it up)
Nothing new here its been going on since we hit $10 (nothing but a hunch to back it up)
a bunch of us just realized that we missed the crash because the price advertised on the top of the site isn't the actual price at all.
I'm telling you guys, Mt.Gox's thing isn't the only reliable ticker... I put alot of effeort into http://www.ounce.me .. though it takes a weighted average of all the bigger exchanges (campbx, mtgox, etc) I believe it's the most reliable... everyone that was staring at the ticker there saw the flash crash.
Interesting to see that there are more big buy orders that big sell orders - there is some serious money looking to get into bitcoin
http://bitcoinity.org/markets?currency=USD&exchange=mtgox
http://bitcoinity.org/markets?currency=USD&exchange=mtgox
1) someone discovered 20k BTC in a basement computer and yelled "I'm rich"!
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
There has to be an option 4.
1) no one found 20k of Bitcoins in their basement.
2) no one likes losing money like that
3) Flash crash won't destroy it, that already happened in 2011, but watch we're going to make headlines in the media tommrow.
4) this is what happened... _____ fill in blank ___ because I have no freaking idea what happened,.
I wanna know how we're doing 25% variations hourly.
Relatively poor liquidity, that's how.
1) someone discovered 20k BTC in a basement computer and yelled "I'm rich"!
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
http://en.wikipedia.org/wiki/False_choice
Option 4 is someone saw the price rise by 10%, day in day out and thought this is as good as it gets, at least in the short term. They cashed out their profits before anyone else. Others saw the price drop and followed, sending it plunging.
1) someone discovered 20k BTC in a basement computer and yelled "I'm rich"!
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
http://en.wikipedia.org/wiki/False_choice
Option 4 is someone saw the price rise by 10%, day in day out and thought this is as good as it gets, at least in the short term. They cashed out their profits before anyone else. Others saw the price drop and followed, sending it plunging.
a bunch of us just realized that we missed the crash because the price advertised on the top of the site isn't the actual price at all.
1) someone discovered 20k BTC in a basement computer and yelled "I'm rich"!
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
2) someone's really, really invested in keeping the price down and has the coins to back it up (and has no problem losing a lot of money in the process)
3) someone thinks they can destroy Bitcoin by causing a flash crash... Adorable, really.
Choose one.
I wanna know how we're doing 25% variations hourly.
You cheated, completely changing your post at the same time I first replied!
LOL! I was.. I kept looking at the ticker on http://www.ounce.me and typing... then retyping.. then retyping.. the freaking thing changed so much I didn't know what to say.
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