50k coins up to $110 on Gox
Go any ideas who might want to push panic buying up into that wall <scratch head thoughtfully>
Ah ... I got an idea ... the bloke that pushed us up from the $70's to here
Just a thought ...
I panic bought in, surely hope that he will do it. Although this whole rally makes me scratch my head.
But is it really a "rally" if driven by 1 or two buyers putting down $1,000,000 for each huge leg up?
Seems like we are just along for the ride, really.
That is why it makes me wonder so much.
Isn't that basically the BTC pricing model? He with lots of USD/BTC can push the market at will? Stability in BTC is an illusion, it means someone with lotsa cash/coin hasn't made a transaction in a while.
Bearish seems off the mark. Too predictable. I expect slow steady increase into the hundred, then 110+ in about 2 weeks, then fall to 105 and we never fall below 99 again.
Why?
Explaining yourself is for pussies.
I like your style.
I am having problems logging into Mt. Gox.
503 Service Temporarily Unavailable
Is anyone else getting this?
Nope, working fine, just tested a bid and ask and both went through and showed up on ClarkMoody.
Here we are a full day after the SD coin release and still no big dump except for the pre-release panic sell, mostly in 2 chunks.
It seems the SD shareholders were not in as big a rush to buy fiat as some people so desperately hoped.
As I grind my coffee, I see the same low-volume hovering around 90 as this time yesterday.
Strange how prices actually started to creep up when the coin release started at noon UTC and dipped a little after it was done. So much for the Great Satoshi Dice BTC Selloff.
I guess they did throw a party and nobody came.
It's a market, it was an uncertain factor which didn't pan out. Such is life.
If I were them and wanted fiat, it wouldn't be hard to say "#1, you sell Friday, #2, wait until it creeps up and sell, #3 follow suit". Any three strong parties on any exchange can tip things quite favorably for one another, it is the biggest problem in BTC today that value is derived from exchanges which carry very little of the actual BTC in existence.
If I want to use my WoW gold I have to stay in the WoW world, for BTC to hit any real usefulness outside of the BTC economy that story needs to change. Hardware is an example, unless every last partner (down to delivery drivers) takes BTC, at some point fiat matters. This is also a big problem for anyone using BTC. Say I have a group order for which payment in the end needs to be in fiat. I collect 200BTC, we're almost set, waiting for a few stragglers to come in with their transactions, suddenly price tanks 20%. Well now we need 240BTC to cover the same fiat value. This is
*the* problem.
The buying whale has decided to wait for seller exhaustion at 96.
And yes, this is f-ing boooring!
Ditto, holding the market is almost as bad as the repeated 1000+ BTC dumps we had a few weeks back. At least then there is reason for chaos and disorder, now everyone is sitting around watching the folks who have whipped it out and put it on the table but are too timid to actually do anything.
Flaccid whales.
I think we will know when bitcoin has attracted too much attention when the US Government outlaw it. As in, anyone doing business in bitcoins is classified as a money transfer business and either has to get a licence or quit it. At the moment the wall street bankers are attracting most of the attention of Government trying to recoup some money from 2008 fiasco. But if bitcoin gains too much attention, and somehow is no longer is allowed in the USA, see how strong the coin will be then.
i'm in the us and am worried about this scenario. I assume the price would drop dramatically if the US tried to ban it, but if China and much of the world uses bitcoin, wouldn't the value simply spring back up?
Yes, things can exist without US involvement. Would just suck for those of us in the US who are interested in the currency.