Bitcoin going ballistic.

newbitech said:
Don't buy the DDOS attack nonsense.
Click to expand...

I don't know, quite a coincidence that the major hub of bitcoin discussion and bitfloor went down (bitfloor is still down as I type this) and unprecedented lag at Mt.Gox, all at the same time.

Hackers could easily hire a botnet, attack, flush out some noob $$$ and buy in at lower prices. Sounds like a strategy to me.
 
newbitech said:
if you turn on the controls, you can see the order book up to 1000 rows.

See that massive buy order sitting on 200? 2334 BTC. I am watching that. If whoever has that chunk pulls it.... mmhmmm.
Click to expand...

Well i feel bad for people who put in buy orders on that MtGox exchange or whatever, because you see sells going through at $200 and buys at like $205/$210 mixed in...that's a big freaking spread for something so supposedly liquid.
 
serious lag now. This is not a DDOS, this is just a slow as server unable to respond, and probably getting throttled. Last I saw was 27 minute trading lag. Now, I have lost my data stream.
 
amonasro said:
I don't know, quite a coincidence that the major hub of bitcoin discussion and bitfloor went down (bitfloor is still down as I type this) and unprecedented lag at Mt.Gox, all at the same time.

Hackers could easily hire a botnet, attack, flush out some noob $$$ and buy in at lower prices. Sounds like a strategy to me.
Click to expand...

except, if you noticed the carts, all signals pointed to a big sell off in the works. You have to remember what a DDOS is. It's just a constant hit on the servers distributed from all over the internet.

You'd see the same thing on a website that got a sudden influx of legitimate interest on a basic go daddy shared hosting plan.

Doesn't mean it's an attack, just means the server can't handle the load. Any of them.
 
This is probably good for bitcoin though. It will force Mt.Cox to upgrade (hopefully) and give incentive for better exchanges to open.
 
Cowlesy said:
Well i feel bad for people who put in buy orders on that MtGox exchange or whatever, because you see sells going through at $200 and buys at like $205/$210 mixed in...that's a big freaking spread for something so supposedly liquid.
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the thing about that is tho, you can bid a price that you want. You don't have to buy it at the market quote which we already know is lagged badly.

But, people read article like the above, talking about how it's sane to buy in at 250, in the middle of a sell off/ correction that's maybe gonna take it down to price levels from a week ago.

That's just dumb investing IMO.

Waiting for a good entry pays off. It's like basic shopping 101. People don't go out and buy their christmas decoration the week of christmas if they care about their money, they wait until the event is over.

What we have witnessed is an event, and people basically not caring about their USD. That's cool with me, but damn, it so predictable human behaviour!

even the clark moody site is locking up. this isn't ddos, it's just people trying to figure out what the huge change in price is all about.
 
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$150?

depth_mtgox_15d.png
 
ronpaulfollower999 said:
$150?
chart snip
Click to expand...

looking at the 4 hours support level, some support around 180ish, you can kind of see it in your chart.

next major level will have to be 143-147. After that, we are back to BTC obscurity, since 100 break out will most certain be retested if we break 145 or so.

and 3 day is getting ready to post a gravestone doji. Might be time to start looking at the weekly charts!
 
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it would be healthy for BTC (for the long term) to drop a lot more down close to 100$ and than firm up. Similar dynamic as silver when it went from 18-50 so fast.

Medium term bubble inside of a long term secular bull market. Time to cool off and consolidate.
 
Seraphim said:
it would be healthy for BTC (for the long term) to drop a lot more down close to 100$ and than firm up. Similar dynamic as silver when it went from 18-50 so fast.

Medium term bubble inside of a long term secular bull market. Time to cool off and consolidate.
Click to expand...

I certainly wouldn't mind. I definitely became concerned when the price was $120 when I went to bed, and $150 when I woke up.
 
That was my concern when silver was charging through 35 to 50 so fast. I was like NOOOOOOOO THIS IS TOO FAST, I NEED MOOOOARRRRR.

I'm real glad there has been a long consolidation - not that I've been able to get more, but I might be able to buy more silver pretty soon.

Similar dynamic for BTC. If BTC can stay triple digits, without irrationally going to 500$ in the span of 2 weeks - it will bode well for it's long term viability.

ronpaulfollower999 said:
I certainly wouldn't mind. I definitely became concerned when the price was $120 when I went to bed, and $150 when I woke up.
Click to expand...
 
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