923900+ entries in 0.648s
mircea_popescu: hopefully
the hos are doing it nude while balancing sandwich plates.
mircea_popescu: yeah
totally. we need more huffpo intelligent bitcoin discussion
mircea_popescu: @maxkeiser 5h Could a Patent Lawsuit
Take Down
the Bitcoin Exchanges Like MtGox???
mircea_popescu: Winklevii — as
they are popularly known — say
they own nearly 1 percent of
that, or some $11 million.
Bugpowder: I hope
the vwap never goes below 122.
jborkl_: I have some money on
there and know what price I am putting my limit at- I hope it gets filled
Bugpowder: Just for
the love of god... don't place a market order.
jborkl_: there were 15000 accounts waiting in
the Q
jborkl_: but
they will not, Gox is full of noobs
that will be hitting sell and f5
ThickAsThieves: i
think people will need
to use outside exchanges as reference
Bugpowder: I
think greed will defeat fear in
the end
taub: think we might actually see a little recovery in
the meantime, 99-120
mircea_popescu: it's just funny, where
they put
the apostille, on your cock ?
Bugpowder: If you are apostilled you proably have 500k on
the exchange
ThickAsThieves: only btc
there, will be from people
that fear/dislike/cant deal in fiat on other exchanges
jborkl_: the ? is how much of
that cash has been requested for withdrawal
Bugpowder: tons of cash off
the books right now
Bugpowder: better
to go for a big spread on your bid/ask, and not get filled,
then
to go for a narrow spread and get stuck in a losing position having scalped 10%
jborkl_: Good bet for bitbet- mt gox
trading engines strokes out in 10 minutes or less
ThickAsThieves: due
to
the fact
there is so much uncertainty, i
think a likely scenario is a repate of last nights oscilations
Bugpowder: Be aware
that people will over react
to every move
jborkl_: Yeah,
the only way I see it ending up ok is if Gox has lined up buyers ahead of
time
gribble: There are currently 33641.267 bitcoins demanded at or over 50.0 USD, worth 2504465.676 USD in
total. | Data vintage: 16.6801 seconds
gribble: There are currently 94194264 bitcoins demanded at or over 0.0 USD, worth 5227579.67567 USD in
total. | Data vintage: 12.8424 seconds
Bugpowder: We could be in for
the mother of all spike ripples
mircea_popescu: that's why you don't want idiots like mtgox involved in situations like
these.
jborkl_: bugpowder- since only people with $ on Gox can buy - and so many bitcoins
to sell -Unless Gox bust
trades or limits somehow
ThickAsThieves: i'm having
trouble seeing
the price drop lower
than on outside exchanges
Bugpowder: would love
to hear what people
think
Bugpowder: The question now is, what is
the right play when gox opens?
Bugpowder: it's very
tempting
to shoot off about specific $ figures, but also stupid
to.. Also, whether you are
trading $1,000,000 or $100, your emotions are probably more coupled
to what % of your net worth is on
the line, rather
than a specific dollar value
Bugpowder: Not going
to state specific position sizes anymore
TomServo: Bugpowder: how much was
the 'bunch of cash' you had on gox before
those
trades?
Bugpowder: We may be moving into a new market pattern now
though, so
the strategies I exploited for
the last 3 months may no longer work
Bugpowder: Also I bougt on gox
today at 121, right beofre
they shut down... Doh!
Bugpowder: The sharp move followed by osciallation is classic
though
Bugpowder: either
that or I have been burned enough
to learn common patterns, and have cashed out enough so
that I'm comfortable making big bets without pissing myself
Namworld: But
then sold
the BTC for USD at 250 =P
Namworld: I sold VTX at 0.20 ... in
the low
Namworld: I'm doing well on
that
too... at least I'm on
the green overall. But I'm not
that accurate =P
Namworld: bugpowder... how do you
trade call/puts and Gox so well?
Bugpowder: tough part is getting
the orders in 10-15 minutes before
they need
to go off.
taub: just
the stagnation?
taub: how did you feel out
the first buy?
Bugpowder: To make myself feel better.... I present my
trades of yesterday
taub: nNotice how btc-e has been running on 50% gox volume
the last couple hours without having "success"?
guruvan: yeah - I feel
that...I usually keep my btc-e acct cleaned out.....I don't hold anything
there
Bugpowder: I won't use anywhere without 2FA. I have
too much on gox right now
guruvan: tough if you need easy usd in or out, but you're
trading for btc you can do well with
trade fees only .2%
guruvan: Bugpowder: I've been using btc-e - I wish
to god
they had 2FA, but man....they have some DDOS protection.
pigeons: the alternatives are only better
the rare occasions
thye have enough depth
pigeons: btce got hacked and lost money but
they ate it
pigeons: "got hacked" in
the bitcoin sense, where who knows if its
true mybitcoin
pigeons: ThickAsThieves: bitfloor got hacked, said sorry, your moneys gone, come
trade with us anyway
ThickAsThieves: whats
the 25k bitfloor story? i have some cash
there...
jborkl_: yes, I dont
think 5-6 hours it is going
to happen
guruvan: well....opening up
the floodgates for pent-up demand is reeeealy hard on big systems like
they have
jborkl_: so, 5-6 hours - I am not
thinking is going
to work out well for
them
jborkl_: well, i sent a small amount
to Gox, 9 confirms - no show in my account
jcpham: masters of subversion, now out of
the crypto-closet
guruvan: (I haven't been all
that flush for a lot of it, but I only started with $1500)
gribble: BTCUSD
ticker | Best bid: 118.95000, Best ask: 124.90000, Bid-ask spread: 5.95000, Last
trade: 124.90000, 24 hour volume: 175853.75589845, 24 hour low: 110.20003, 24 hour high: 203.00000, 24 hour vwap: 159.51856
guruvan: lol - I live in a
tiny little
town ....there's no jobs....gotta make your own.
MJR_: but
till
then, work harder
MJR_: soon
they will both be
the same
thing
MJR_: i do what i have
to in order
to make money
guruvan: I have
to earn money from my business......no
two ways about it - no burn rate possible here
MJR_: well...you can, i am not saying
that it doesn't work out well in some cases
MJR_: but
that is my mentality, i'm not used
to people giving you money
to make your dreams come
true
MJR_: and i expect
to reap
the rewards from my equity
MJR_: i use my salary
to fund my life
MJR_: i personally
think
that if you aren't in
the irc channel, learning, and actually care about bitcoin, it will show
guruvan: successful startups do have a plan - it's
the VCs who often don't
MJR_: it is
the hot
ticket item of
the day
MJR_: entrepreneurship should be bringing
together
the pieces
to create something more valuable
than
the sum of its parts
guruvan: no but wee'll see plenty silicon valley startups
that it does apply
to in
the bitcoin biz
MJR_: i also don't like
that mentality, i like good solid plans
that make sense
guruvan: no - it's not, but it's great for
the "thow a buncha shit on
the wall and see what sticks" venture capitalist mentality
MJR_: BUT...i'm not saying
that applies
to coinsetter
MJR_: in some ways, VC's do a disservice by
telling people
that
they are great, when
they haven't done anything yet