Printable View
BTW I had a disturbing dream this morning that the sun prematurely turned into a red giant, and I was quickly incinerated by a giant fireball (before waking up).
Maybe it was an analogy to the coming day of bitcoins.
4/10/13 NEVER FORGET
BTW I just want to go on record that I said on radio last night that, had I bought into bitcoin for $39 like I kinda wanted to, I would have sold at $240.
Down to $170! People should of got out at $220-240 range. It's possible it jumps back up but if I was one that got on at $20 or less I would of been selling a long time ago likely missing out on some of it's higher value but not getting killed if it plummets super hard. I mean at $150 I would of snap sold 'em.
I sold mine this morning at $215.
I only had 4.
Quote:
Originally Posted by sonatine
BTW: cmoney is god.
Bitcoins get destroyed
Now down to $142.
Wile E. Coyote has a better chance of staying airborne in the Grand Canyon than bitcoin has of staying over $100 today.
:bye
Hindsight is 20/20.Quote:
Originally Posted by Dan Druff
If I bought in a $39, there's no chance in hell I wouldn't be out at $90. I don't believe you go for 6x your money in all investments.
Quote:
Originally Posted by anonamoose
Karmas a bitch.. You were so mena to me last night playing poker too :(~~~
Back up to $172.
Watching it in real time. These swings are crazy and why it is going to be hard long term to deal with this as an alternative currency. It is like watching option trading a day before the contract expiration date.
Yeah I see it's back to $180 now... probably some people who think it will go back up and started buying once it hit $126 (today's low).
This may actually stop the bleeding for now, but it's a signal of what's to come.
My guess is this is temporary, the run on the bank seems to have begun, where it levels off will be interesting, you hit the nail right on the head. At a certain price some will believe its worth a buy again, where that lies will be fascinating to watch. That leaves the recent buyers SOL.Quote:
Originally Posted by Dan Druff
$141
ddos is making people panic that's why it's plummeting. i'm freaking out because i cant buy. freaking bitinstant isn't accepting cash deposits right now for some reason.
i seriously doubt this is ddos related, i think its just a firestorm of panicked trading.Quote:
Originally Posted by anonamoose
The problem with buying in at something like $240 was that you were highly unlikely to see a several-times-return on investment.
At something like $40, it was much more likely that you could double, triple, quadruple, or greater your money. This probably made it worth it to buy in, even with the risk of a crash.
At $240, you had to think it was highly unlikely to ever hit anything like $1000, so you were lowering your potential reward while taking an actually greater risk (because a crash or market correction was much more likely at that point).
That's why I didn't bother buying in after it broke $100.
it is there was a fire off of a lot of bitcoins at a very low price and then the markets started to go down and lag extremely. people did this just a week ago it was the same situation.Quote:
Originally Posted by sonatinei seriously doubt this is ddos related, i think its just a firestorm of panicked trading.Quote:
Originally Posted by anonamoose
Is there really much of a DDOS going on though?Quote:
Originally Posted by anonamoose
From what I've seen, MtGox was loading slowly one time, but other than that, it has been refreshing quickly.
dude this is nothing like last week; even the value reflector sites are offline from load.Quote:
Originally Posted by anonamooseit is there was a fire off of a lot of bitcoins at a very low price and then the markets started to go down and lag extremely. people did this just a week ago it was the same situation.Quote:
Originally Posted by sonatine
basically everyone is ringside, watching this shit crash and burn and/or trying to mitigate losses.
Also, let's say you bought in at $50.Quote:
Originally Posted by sonatinedude this is nothing like last week; even the value reflector sites are offline from load.Quote:
Originally Posted by anonamoose
basically everyone is ringside, watching this shit crash and burn and/or trying to mitigate losses.
When you see this shit crashing like this, you are insta-selling with the rationale of, "Well, at least I'm still making a decent profit." Very few people will have the balls to ride this out and hope that it spikes back up, unless they have very few coins.
trade volume isn't much higher than it was at 250. so yeah, no one is mitigating loses.Quote:
Originally Posted by sonatinedude this is nothing like last week; even the value reflector sites are offline from load.Quote:
Originally Posted by anonamoose
basically everyone is ringside, watching this shit crash and burn and/or trying to mitigate losses.
It happened just a week ago. This plummet happened when everything was running smoothly. It definitely wasn't DDoS related, just mass selling. But it might be getting attacked again now to boost the tailspin.Quote:
Originally Posted by Dan DruffIs there really much of a DDOS going on though?Quote:
Originally Posted by anonamoose
From what I've seen, MtGox was loading slowly one time, but other than that, it has been refreshing quickly.
Last week's fire sale was directly related to the DDoS. This one just happened unprovoked.
LOL at Micon's tilt tweet about people texting him regarding bitcoin prices.
Ha haQuote:
Originally Posted by DaGreek23
Bryan Micon @BryanMicon 25m
Please stop texting me about the price of #bitcoin ... its fucking volatile & u knew this
https://twitter.com/BryanMicon
:lol2
http://sealsdeals.info/?wsop
The LOL is Micon selling pieces of himself for wsop with seals chips.
What happens when Bitcoins go up/down 50% before he cashes it out to USD for his buyins.
LOL
Quote:
Originally Posted by CokeheadHa haQuote:
Originally Posted by DaGreek23
Bryan Micon @BryanMicon 25m
Please stop texting me about the price of #bitcoin ... its fucking volatile & u knew this
https://twitter.com/BryanMicon
:lol2
http://i.imgur.com/8LIVsjB.gif
Micon has no problem talking about Shitcoins when they are on his terms but question him when they are fluctuating like crazy and he don't want to hear about it.
Ya I just made a new thread about this, merge it if u want Druff. But u bring up a point i missed, what if he takes a big loss in bitcoins and cant afford to play!Quote:
Originally Posted by simpdog
Quote:
Originally Posted by CokeheadHa haQuote:
Originally Posted by DaGreek23
Bryan Micon @BryanMicon 25m
Please stop texting me about the price of #bitcoin ... its fucking volatile & u knew this
https://twitter.com/BryanMicon
:lol2
whats DDoS?Quote:
Originally Posted by SrslySirius
Well its 120 now and the low is 105 so I think whatever recovery it had is gone. But guess what friends?? Its Wednesday so I really am gonna pray there is DD radio tonight, Im gonna listen for sure!!
Bryan Micon @BryanMicon 31m
"@jordanPmorgan: @BryanMicon RABBLE RABBLE RABBLE" yes, I know why its going down: sellers outpaced buyers recently pic.twitter.com/3rNjQ1cSI1
http://www.welovetheiraqiinformation...7-minister.jpg
Regardless of what happens here, this is going to be damaging for the future value of bitcoin because it shows that crashes are not just limited to temporary panic-sells from DDoS attacks and hackings. It's indicative of the fact that, at any time for any reason, the value can just go completely into the toilet if a small percentage of bitcoin owners decide they are done and prefer to get out. Once there is the impression that more people want to sell than buy, everyone panics and feels they have to get out NOW before the next crash, thus actually causing the next crash.
Even though I own as many as two bitcoins, I would like to see them crash to $1
Quote:
Originally Posted by PLOL
Is that them 2 Rollo coins lol?
Man how did these fools now to get the f out of dodge.
Exactly. Also business owners want to deal with a currency that is relatively stable. This will make anyone thinking about taking bitcoins as payment to think twice which is probably the most important part of legitimatizing an alternative currency.Quote:
Originally Posted by Dan Druff
I think a group of people have been fucking with the price this whole time which is why I thought around the 250 price point it was time to bail. It isnt too high but not too low.
The swings are similar to those of over the counter stocks. The market is so small that a big sell order destroys the price.
Some Harvard business schools alumni are probably high fiving each other right now looking through Ferrari.com for their next ride while chanting SFO.
Distributed denial of service attack. Basically it's when someone overloads a server to slow down a website or bring it down. It's like a billion people mashing the refresh button. Simplified explanation, but that's the gist of it.Quote:
Originally Posted by kmksmknwhats DDoS?Quote:
Originally Posted by SrslySirius
If it totally crashes, I'll lose out on several hundred dollars of free money. But I'll probably feel relieved knowing that I didn't in fact miss out on tons of money by walking from Seals.Quote:
Originally Posted by PLOL
I bought them for $150/btc effective. But Imma run it up in the Sunday 2BTC tourney. Last time I ran 3btc up to 20btc and then back down to 0.Quote:
If it totally crashes, I'll lose out on several hundred dollars of free money. But I'll probably feel relieved knowing that I didn't in fact miss out on tons of money by walking from Seals.Quote:
Originally Posted by PLOL
:thisQuote:
Originally Posted by cmoneyExactly. Also business owners want to deal with a currency that is relatively stable. This will make anyone thinking about taking bitcoins as payment to think twice which is probably the most important part of legitimatizing an alternative currency.Quote:
Originally Posted by Dan Druff
I think a group of people have been fucking with the price this whole time which is why I thought around the 250 price point it was time to bail. It isnt too high but not too low.
The swings are similar to those of over the counter stocks. The market is so small that a big sell order destroys the price.
Some Harvard business schools alumni are probably high fiving each other right now looking through Ferrari.com for their next ride while chanting SFO.