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mircea_popescu: if it stayed at 15 now, in two weeks you'd ehar how unfair it is they can't put money in
mircea_popescu: was the same exact thing back whern it was 2. when i joined and btc was 15 people were whinign that they don't want to pay money so the early adopters benefit.
mircea_popescu: otherwise this will be known as the flash crash of august.
mircea_popescu: good that we're young enough to still set records hehe
mircea_popescu: not even during the great $30 crash did it go this fast.
mircea_popescu: i'd say this is catastrophic drops never before seen in btc
mircea_popescu: o, yeah. i think right after my initial offerings sold somebody put one up at like, crazy price, trying to get people confused as to value.
mircea_popescu: if you have two orders of 5 at 5, it only puts in the first.
mircea_popescu: kakobrekla i had the same problem. thing is twitter won't repeat messages
mircea_popescu: gabbynot options work exactly to hedge, not to sell your underlying.
mircea_popescu: which really, they prolly should do in that circumstance.
mircea_popescu: the logical explanation here is : pirate is cashing out, by monday his wires have gone through
mircea_popescu: pirate investoers by that very definition have no btc to sell.
mircea_popescu: im pretty sure if you have 200k and want 300k, if you firesale your 200k the 300k will cost more than what 100k would have cost.
mircea_popescu: sooo... pirate has officially run out of bitcoins, that right ?
mircea_popescu: <nefario> I won't be allowing anything like the pirate passthroughs on GLBSE in the future << this is wise.
mircea_popescu: Azelphur stay tuned, i think i'll have one hell of an announcement.
mircea_popescu: certainly if i was owed 1000 btc i wouldn't take 9000 usd for it or w/e
mircea_popescu: i don't see why anyone would accept usd prices tomorrow.
mircea_popescu: so he got 20k btc, bought assets, and their present value took a 95% hosing
mircea_popescu: so he sold some of the 20k for 1btc and some for less ?
mircea_popescu: i said i don't understand it from the get-go, it's what i mean. i m not clear what went down there.
mircea_popescu: usagi so if the float is 20k and he got 20k in btc, why is it under so much sell pressure ?
mircea_popescu: and then out of the 20k btc all he has are assets worth ~1k or so ?
mircea_popescu: so the 20k is now divided to 1mn shares, hence 0.02 per share ?
mircea_popescu: and then... somehow... they are counted as all issued ?
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