BTC back over $600

M

mkrohn

2[H]4U
Joined
Apr 30, 2012
Messages
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Time to cash out a chunk for me... I think a chunk of this past weeks earnings just to help inch me out of the red
 
I bought a bunch of BTC yesterday and today at 540-550 and put them straight into GoxBTC at .36-.37 per coin. They went to .5-.6 a few hours ago while BTC went to 600 so if I cash out now I did pretty well today. But I guess I'll do double or nothing and wait to see if Gox can get their **** together. I'm probably greedy, but oh well.
 
Quix said:
I wouldn't be surprised if it's $800 in a week.
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in the same breathe you forgot to say that you wouldn't be surprised if it were $200 in a week. Anybody in this game knows it can shift either direction very fast but you have to cash some out from time to time.
 
Whenever I read "HODL" I read:

hodor-1024.jpg
 
mkrohn said:
in the same breathe you forgot to say that you wouldn't be surprised if it were $200 in a week. Anybody in this game knows it can shift either direction very fast but you have to cash some out from time to time.
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Gox could find another bug and stop withdrawals again. :D

Or, they could say, "Now that we've re-enabled withdrawals, we regret to inform everyone that we're declaring bankruptcy."

EDIT: And it isn't over $600 everywhere. BTC-e still sits at $590 and you know how the trolls there now consider BTC-e the controllers of Bitcoin now that Gox has sorta fallen from grace.
 
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coinbase has frequently been over $600 today and coinbase is the only thing that matters since that is what actually funds my bank account
 
Yea coinbase is my benchmark now. They seem to be the most professional, consistent and in my case, the best way to transfer to my bank acct.
 
Yep, CB is where it's at.

I tend to look at BTC-E first cause of their graphs though.
 
And back down we go!

WTF is with all these BTC traders?! Can't keep it above 600 anymore? I was hoping with the news that Gox was slowly re-enabling withdrawals this was going to mark the recovery time (maybe with a slow, but steady return to between 700 and 800), but apparently people are blaming Gox again for this downturn. What is it now? Did someone at Gox not flush the toilet and it clogged and flooded their server room causing more delays to withdrawals? And why the hell does anyone still care what Gox does FFS?!

EDIT: So it appears there was "NO NEWS from Gox" so this somehow incited PANIC among the masses and everyone started selling off their BTC. UN-FRIGGIN'-REAL!
 
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x3sphere said:
Some guy just put a 10,000 BTC sell wall up at $600 on Stamp :eek:
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Hey, who wouldn't want 6 million right now? Even if it goes back to 1,000 per BTC, 6 million is still pretty nice.
 
This guy is actually dumping I think, may not be a manipulation attempt. He moved his wall down to $579 just now and sold a bunch of coins, almost 1000.
 
mkrohn said:
He's putting the wall up to drive the price down just to buy more. Its a very common tactic
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A very likely possibility, but he could also just be cashing out. Sometimes you just wanna have actual money in your accounts. Having money that you can use now is better than money you don't have and only might have in a few years. The biggest profits are generally made by waiting, but some people got in this years ago and are probably happy with what they have made.
 
xIronCrossx said:
A very likely possibility, but he could also just be cashing out. Sometimes you just wanna have actual money in your accounts. Having money that you can use now is better than money you don't have and only might have in a few years. The biggest profits are generally made by waiting, but some people got in this years ago and are probably happy with what they have made.
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Plus if you can "cash out" now and then buy more when the price drops you can get more BTC in the long run, or the same amount plus cash.... and hell even if it goes back up you've still got 6mil to comfort yourself with :)
 
Thus, he's manipulating the market. By putting up a wall, it just says "The price will not go any higher than this until my sell order is completely filled." And of course, panicky idiots being what they are, see that and think "somebody is dumping" and panic sell the price into the ground.

I guess somebody doesn't want BTC to go over 600 yet.
 
Carbon_Rod said:
Thus, he's manipulating the market. By putting up a wall, it just says "The price will not go any higher than this until my sell order is completely filled." And of course, panicky idiots being what they are, see that and think "somebody is dumping" and panic sell the price into the ground.

I guess somebody doesn't want BTC to go over 600 yet.
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That could be considered a win for many, unless you bought in at $1,200 like a fool :D

So much money is to be made with these fluctuations, I'm kind of sad I don't have enough capital to really dabble in BTC trading, still stuck in alt coins.
 
x3sphere said:
This guy is actually dumping I think, may not be a manipulation attempt. He moved his wall down to $579 just now and sold a bunch of coins, almost 1000.
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helps trigger a panic, this guys good and there's a reason he has $6M+
 
nightwalker said:
Reminds me of David Pate on BTC-e, he regularly flashes 7 figure walls and people shit the bed.
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yeah if I had that kind of coin I'd do it too just to buy up a ton at lower prices Thats the kind of guy who can really day trade
 
xIronCrossx said:
That could be considered a win for many, unless you bought in at $1,200 like a fool :D

So much money is to be made with these fluctuations, I'm kind of sad I don't have enough capital to really dabble in BTC trading, still stuck in alt coins.
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But when does it stop being a "win for many"? When is enough actually enough? When can this actually go back up? That would be sad to have to wait until every last straggler got aboard at a low price before the price could start going back up. Remember, when the price of BTC is up, it's a win for everyone, even here in the alt coin markets.
 
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I'd consider it one hell of a win when we get back over $800. $1k would make my jizz all over my giant stack of mining cards
 
You got that right... I would have no problems saying YES to more expansion.

Right now though, I'm trying to decide whether to go through with or hold off on plans for expansion. It almost seems like an uncertain time... like there's some big change looming or something. The market seems to be slowly decaying especially with the price of BTC dropping by $100 here, $100 there, $20 here, $20 there.
 
Carbon_Rod said:
But when does it stop being a "win for many"? When is enough actually enough? When can this actually go back up? That would be sad to have to wait until every last straggler got aboard at a low price before the price could start going back up. Remember, when the price of BTC is up, it's a win for everyone, even here in the alt coin markets.
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Whenever the whales decide they want to move up. They don't wait for every little guy, but they probably watch each other, and I mean the people with probably more than 50k bit coins. They can make the price go through the roof or into the ground if they really want to, so technically the market is controlled by a tiny percent, pretty similar to any other market.
 
Carbon_Rod said:
You got that right... I would have no problems saying YES to more expansion.

Right now though, I'm trying to decide whether to go through with or hold off on plans for expansion. It almost seems like an uncertain time... like there's some big change looming or something. The market seems to be slowly decaying especially with the price of BTC dropping by $100 here, $100 there, $20 here, $20 there.
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If I'd have known this was going to happen i wouldn't have just done my massive expansion. I would do small bumps at a time. Maybe built like 1 rig you know like a mobo that takes 5 cards easily and however many cards you can like 2 or 3 but easily be able to pop some more in. If you have empty slots in current rigs then fill them.

I personally right now have a ton of power supplies and oddball parts just sitting here. I just sold a few video cards off to try to get me closer to the black. I made a profit on those video cards so no matter what I got ahead on that side of things. I'm leaning towards buying a bunch of those Nvidia cards or more 270x's with my next round
 
Oh I know about the whales and their little circle jerk group.

Alternatively if BTC were to settle in here at around $600, that wouldn't be so bad either. There would be less uncertainty for sure. The alts may even be able to settle into appropriate pricing based on their value in relation to a stable BTC. But, people are hesitant to buy now and begin to drive the price up, even slowly, because they think BTC will just drop after they do. And I don't blame them.
 
Carbon_Rod said:
Oh I know about the whales and their little circle jerk group.

Alternatively if BTC were to settle in here at around $600, that wouldn't be so bad either. There would be less uncertainty for sure. The alts may even be able to settle into appropriate pricing based on their value in relation to a stable BTC. But, people are hesitant to buy now and begin to drive the price up, even slowly, because they think BTC will just drop after they do. And I don't blame them.
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yeah its certainly worth mining thats for sure its just with uncertainty going right now I wouldn't drop like $5k+ on parts to do a major expansion again
 
Carbon_Rod said:
Thus, he's manipulating the market. By putting up a wall, it just says "The price will not go any higher than this until my sell order is completely filled." And of course, panicky idiots being what they are, see that and think "somebody is dumping" and panic sell the price into the ground.

I guess somebody doesn't want BTC to go over 600 yet.
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Well yeah, but if that was his aim he would remove the wall once people started buying into it

So far his 10K wall is now down to 6K. People just keep buying into it, he's not doing a good job of bringing down the price.

Either he just wants to cash out or has inside information that the price is going to tank in the coming days.
 
I hate to say it, if you're in it for the long haul, I think expanding is a good idea. I was on the fence for a while, but as I get closer to black I think I'll be doing a bit more.

Plus I'm addicted to this shit. :D
 
Oh I know about the addiction as well. ;)

I had the opportunity to go to the casino this weekend, but had second thoughts when I figured the couple hundred bucks I'd spend there could go towards some new RAM for a new mining rig or at least pay for part of a new GPU. LOL. :p:D

And you're right... I'm in it for awhile that's for sure. As far as I'm concerned, my next cash out I'll be completely in the black, plus profits. I'm still probably going ahead with my next expansions, just a bit slower and more cautiously than originally planned.
 
Testing 550s :)

Gox is @ $226 which makes me think either this is Gox liquidating or somebody who thinks there will be bad news soon. Or somebody making everybody else think about those scenarios to score some cheaper BTC. I don't know which so I just bought 0.5 BTC and will buy increasingly more the more it falls.
 
IEC said:
Testing 550s :)

Gox is @ $226 which makes me think either this is Gox liquidating or somebody who thinks there will be bad news soon. Or somebody making everybody else think about those scenarios to score some cheaper BTC. I don't know which so I just bought 0.5 BTC and will buy increasingly more the more it falls.
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It's because MTGOX was told about the invalid issue back in September and did nothing about. They tried to do withdrawls last night but it failed again.

It got so bad that the CEO of MTGOX has stepped down tonight. So people are freaking out about the BTC on MTGOX.

DO NOT take MTGOX prices seriously since you cannot withdraw any of the coins from them.

http://www.cryptocoinsnews.com/2014/02/24/breaking-mark-karpeles-resigns-bitcoin-foundation/

Big news after the failed withdrawls from last night....
 
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