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Message
re: Goxpocalypse Part Deux
Posted on 4/12/13 at 8:51 am to LSURussian
Posted on 4/12/13 at 8:51 am to LSURussian
If its gets as low as $10-$20 I'm gonna throw a hundred bucks at it for shits and giggles. I don't think this is the end of it, I bet it goes back up to around $200 in a few days.
1
Posted on 4/12/13 at 8:54 am to Dan
Germans.
Well, technically, Japanese, but Germans, too.
Notice the date, April 11. That was over 24 hours ago, Tokyo time. And this was discussed ad nauseum earlier in this thread (I don't blame for not reading through it).
Well, technically, Japanese, but Germans, too.
Notice the date, April 11. That was over 24 hours ago, Tokyo time. And this was discussed ad nauseum earlier in this thread (I don't blame for not reading through it).
Posted on 4/12/13 at 8:57 am to rintintin
quote:Sure, why not? It's just like an online roulette wheel. If you win, you make some money. If you lose, you had fun anyway, right?
If its gets as low as $10-$20 I'm gonna throw a hundred bucks at it for shits and giggles.
Posted on 4/12/13 at 9:02 am to LSURussian
exactly, its intriguing, you can't deny that, why not make a couple hundred bucks on top of it. People like me are probably the ones ruining it though, as you said there are some true BC diehards that are going to hold out for the long haul. I do believe in the concept, I just don't think this one is going to last.
Posted on 4/12/13 at 9:06 am to rintintin
quote:
as you said there are some true BC diehards that are going to hold out for the long haul.
It's funny reading some the comments on the btc board associated with the btc-e exchange.
They are ecstatic that btc has "only" dropped 25% today.
Now THAT shows what a cult it is!
Posted on 4/12/13 at 9:13 am to rintintin
Posted on 4/12/13 at 9:20 am to WikiTiger
You weaken your argument when you post cartoon crap like that.
It just makes you appear to be immature, paranoid and bitter.
It just makes you appear to be immature, paranoid and bitter.
This post was edited on 4/12/13 at 9:25 am
Posted on 4/12/13 at 9:22 am to WikiTiger
This could give me a much bigger return on my investment in a fraction of the time if it stays this volatile.
I'm not a BC hater btw.
I'm not a BC hater btw.
Posted on 4/12/13 at 9:31 am to LSURussian
btc-e down? that text box was going to be my work entertainment for the day....
ETA: Back up again
ETA: Back up again
This post was edited on 4/12/13 at 9:33 am
Posted on 4/12/13 at 9:33 am to StinkBait72
It's working for me. 
Posted on 4/12/13 at 9:33 am to LSURussian
quote:
LSURussian
Are you really keeping that close of an eye on this?
Posted on 4/12/13 at 9:37 am to rintintin
If you plan on doing some bottom fishing for grins, be sure to investigate all of the btc USD sites.
The price differential between sites is unbelievable. Right now one site, bitstamp, is showing their price to be $65 while MtGox's price is $77 and btc-e's price is $70.
I can't believe anyone would trust any system that has that kind of price divergence.
The price differential between sites is unbelievable. Right now one site, bitstamp, is showing their price to be $65 while MtGox's price is $77 and btc-e's price is $70.
I can't believe anyone would trust any system that has that kind of price divergence.
Posted on 4/12/13 at 9:42 am to LSURussian
quote:
The price differential between sites is unbelievable. Right now one site, bitstamp, is showing their price to be $65 while MtGox's price is $77 and btc-e's price is $70.
You would think that someone would develop a program to buy from one site, and sell at another site instantaneously, pocketing the difference.
Posted on 4/12/13 at 9:45 am to LSURussian
quote:
Germans.
Well, technically, Japanese, but Germans, too.
ha I did notice the date but decided to post because I did not see any mentions here of their denial of being attacked. I only skimmed, though
Posted on 4/12/13 at 9:47 am to LSURussian
This morning btc-e was at $56 I believe. It'd have to get south of at least $40 for me to consider. The only sites I've checked are btc-e and coinbase, although coinbase was way behind on their prices, they were still at $120 last night when everywhere else was in the 70's.
Posted on 4/12/13 at 9:53 am to Ric Flair
quote:I've been posting about that for several weeks now. It's a perfect arbitrage with some really big gains.
You would think that someone would develop a program to buy from one site, and sell at another site instantaneously, pocketing the difference.
The only thing I can think of that might not make it work now is, based on the comments I see on the btc-e message board, there is a significant delay in the confirmation and settlement process of the trades. There are frequent complaints by the buyers and sellers on that board that several hours have gone by and they still don't know if their trade got executed although the price moved well below/above their order price.
That would make an arbitrager want to kill someone at any reputable exchange.
I get pissed when I'm day trading stocks and the confirmation takes more than a few seconds to arrive! I've actually called Schwab when I've had a buy trade execute and the shares don't show up in my account after a couple of minutes.
So, I'm not sure how someone could develop a system tying in the various exchanges if those exchanges are so inefficient in reporting the execution of trades to their customers.
Posted on 4/12/13 at 9:57 am to Lsut81
quote:Yes. I'm just confirming what I've suspected all along by observing the exchanges.
Are you really keeping that close of an eye on this?
BTC is a Ponzi scheme but the victims of the scam are so enamored by the concept they don't care that they are being scammed.
Posted on 4/12/13 at 10:03 am to WikiTiger
What's telling about that cartoon is that it makes clear that bitcoin is not a currency. Notice how he doesn't use the word "exchange" the way we'd say "I'd like to exchange some dollars for francs." No, he says "put some money into bitcoins." The bitcoins are explicitly contrasted to money -- I give you money, you give me bitcoins. The later comparison to the stock market also shows that the bitcoins are viewed here as an investment, not a currency.
Similarly, everyone in this thread talks about bitcoin valuation. But that's not how you talk about currency. You talk about inflation and deflation. And I would bet everything I own that no currency in history has ever whipsawed back and forth between hyperinflation and hyperdeflation on the same day like the bitcoin has. Right now bitcoin is more like a penny stock than anything.
Similarly, everyone in this thread talks about bitcoin valuation. But that's not how you talk about currency. You talk about inflation and deflation. And I would bet everything I own that no currency in history has ever whipsawed back and forth between hyperinflation and hyperdeflation on the same day like the bitcoin has. Right now bitcoin is more like a penny stock than anything.
Posted on 4/12/13 at 10:22 am to Cold Cous Cous
quote:
What's telling about that cartoon is that it makes clear that bitcoin is not a currency. Notice how he doesn't use the word "exchange" the way we'd say "I'd like to exchange some dollars for francs." No, he says "put some money into bitcoins." The bitcoins are explicitly contrasted to money -- I give you money, you give me bitcoins. The later comparison to the stock market also shows that the bitcoins are viewed here as an investment, not a currency.
Similarly, everyone in this thread talks about bitcoin valuation. But that's not how you talk about currency. You talk about inflation and deflation. And I would bet everything I own that no currency in history has ever whipsawed back and forth between hyperinflation and hyperdeflation on the same day like the bitcoin has. Right now bitcoin is more like a penny stock than anything.
Why can't bitcoin be a mixture of currency and commodity?
Why do so many people have a hard time accepting that?
Posted on 4/12/13 at 10:26 am to WikiTiger
quote:Because they have conflicting purposes.
Why can't bitcoin be a mixture of currency and commodity?
quote:Because "many people" are not as stupid as.........oh, never mind.
Why do so many people have a hard time accepting that?
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