Silk Road forums

Discussion => Silk Road discussion => Topic started by: fredzebaker on April 03, 2013, 08:54 pm

Title: BC dropped 18% in the last few hours. Sell or wait ?
Post by: fredzebaker on April 03, 2013, 08:54 pm
what do you think ?

/
Fred
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: rigolo on April 03, 2013, 09:00 pm
I try to sell my btc since over 36 hours, but SR is not sending withdrawal , there is a bug :(
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: nameviolated on April 03, 2013, 09:03 pm
Tough call, but then it's a high risk investment anyway.  While the prices have dropped 18% they are still roughly the same as the day before so I wouldn't be thinking thats a bad thing yet.  If they drop back to less than $110, I would be thinking that the long overdue correction is incoming.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: fredflintstone on April 03, 2013, 09:07 pm
People take their profits and sell, more people buy right back in and the price goes back up.

I wouldnt worry, it will be at 130-135 by tomorrow morning again
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: NOTspacecase on April 03, 2013, 09:13 pm
SELL SELL SELL SELL!!!

No, I kid. Hold on to them.

@Fred Did you really lose that 20k? If so, fuck, you're having some bad luck with those coins.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: fredzebaker on April 03, 2013, 09:17 pm
Hi,

who said I lost 20k ?
We havent lost anything.

regards/
Fred
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: NOTspacecase on April 03, 2013, 09:21 pm
Ooops, should have specified which Fred. The other one, fredflintstone.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: robotrippin on April 03, 2013, 09:24 pm
People take their profits and sell, more people buy right back in and the price goes back up.

I wouldnt worry, it will be at 130-135 by tomorrow morning again

Yep, money come money go. It'll drive you crazy if you try to follow it constantly. It's hard not to do that though since the value is so high.
BTC gives new meaning to "volatile"
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: fredflintstone on April 03, 2013, 09:30 pm
@spacecase - we will see. I am trying to work it out.

Tough being a legitimate vendor on this site sometimes. Escrow scams, BTC scams, blackmail scams ... on and on it seems some days.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: snark on April 03, 2013, 09:35 pm
I'm confident that over time it's going to continue to rise and be a worthwhile investment so I'm not selling for now. I'm aware I could get burned, but if it starts to steadily drop over a period of time I'll just spend them.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: zombai spy lab on April 03, 2013, 09:37 pm
Withdraw goes into locked  when rate jump over 10%.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: White 0ut on April 03, 2013, 09:42 pm
BTC are now at $128 weighted avg. Just saying
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: 46andtwo on April 03, 2013, 10:06 pm
I would assume it would still be a hard time to get a correction; seeing as it is almost 4/20 and people need their drugs before then.  That equals a strong demand and endless bids for the BTC on our side of the world. Traders obviously know this and capitalize on it. Now if there were only a way to short the bitcoin..(Perhaps after the next week or so)
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: slash on April 03, 2013, 11:08 pm
If you d have followed carefully how bitcoin has evolved the last 6 months
you ll see that every time after a big rise in value the value goes a bit down and backup again
t the value is not going up constantly and this is  a sign of stability
bitcoin will worth $500 or more by the end of the year 

selling would be the biggest mistake you could do
I think you should BUY
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: commodore64 on April 03, 2013, 11:15 pm
easy sell, if you can.

price is going down further in the next 24 hours, some exchanges are lagging on purpose to slow the crash down because of pressure from investors
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: onezero32 on April 03, 2013, 11:24 pm
Bitcoins are very volatile and direction changes of 10%, 20% etc happen all the time. REEEELAAAAXX and stop looking at the short term trends (minutes & hours) and focus on the longer term.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: NW Nugz on April 03, 2013, 11:46 pm
The chart I watch has not shown a dip yet. Clearnet I think:
https://blockchain.info/charts/market-price?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

If it is not lagging for some reason, I'd guess people are freaking out over people freaking out - lol. Daytraders and other flippers need short term instability from scared sellers to max their profits as the general rise continues. It is hard to know when a real crash might occur. Fun ride atm tho.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: danconia on April 04, 2013, 12:55 am
I would assume it would still be a hard time to get a correction; seeing as it is almost 4/20 and people need their drugs before then.  That equals a strong demand and endless bids for the BTC on our side of the world. Traders obviously know this and capitalize on it. Now if there were only a way to short the bitcoin..(Perhaps after the next week or so)

It is my understanding that a relatively small minority of BTC transactions involve drugs.  Drugs are a smaller factor compared to international economic issues in my opinion.  Whenever there is a quick spike there is also usually a sharp correction afterward and I think this has more to do with Mt Gox not being able to execute transactions immediately (ie being "bogged down" by too many transactions in too little time) than anything else.

This is why people are crying for some other BTC exchange alternatives.  Too much of the currency transaction rely upon Mt Gox.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: 46andtwo on April 10, 2013, 08:32 pm
I would assume it would still be a hard time to get a correction; seeing as it is almost 4/20 and people need their drugs before then.  That equals a strong demand and endless bids for the BTC on our side of the world. Traders obviously know this and capitalize on it. Now if there were only a way to short the bitcoin..(Perhaps after the next week or so)

I was calling for this a week ago, lets see how much farther the correction goes...
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: SinningSaint on April 10, 2013, 09:03 pm
Prices are going up again  ;) Good time to buy if you ask me
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: HitTheRoad on April 10, 2013, 09:56 pm
If you want to make profit on bitcoins, set a target or limit of profit you would be happy with and sell the second they hit that point and don't look back!

Be happy with what you made and don't look at the price of them regretting selling them at the price you did and don't forget, the arse can fall out of them before you wake up in the morning for whatever reason!!!

I wish I had done the same with business shares during the economic boom but I was new to it and greedy which is natural but I learned from that and if I was buying BC's to make profit, I would sell and be delighted with what I've made!  :)

Won't be investing at the price they are at now.

Good luck to anyone with a bundle of them!
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: brainfreeze on April 10, 2013, 10:31 pm
KEEP THEM dont sell and add to the mini panic, i've been told by the person who buys mine that the people he sells to are keeping them as this currency (if we can call it that) is one day in the future will be worth 1000's per coin. if your smart you will at least save a few. Weston union is said to start trading them its all looking Great for bitcoin holders. SAVE SAVE SAVE friends 
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: joolz on April 10, 2013, 10:51 pm
c.i.a  anyone  ???
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: leavesbrown on April 11, 2013, 12:54 am
Hang on to them, the market is stabilizing quickly, only fools rush in. BTC is still a sound investment, just chill and the invisible hand will be kind to you.
And stop using Gox to buy/sell coins, they have waaaaay to much control of a supposed decentralized currency.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: Happyman on April 11, 2013, 01:48 am
WAIT! dont sell any coins keep hold of them it is a temporary dip being coused buy wankers using ddos attacks on gox if you panic sell the market will flood and drop even more making more and more people loose there nerve and sell its a rippling effect the people who are doing it want so they can by coins dirt cheap they will buy them all and stop there attack on gox the price will rocket again cos real buyers can connect to the gox site and the ones who did all this will be stupidly rich keep them its only ever going to go back up again
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: ruby123 on April 11, 2013, 03:07 am
MtGox
Hi everyone, just a quick update on the situation and what happened last night.

First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success!

Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine!

To give you an idea of how impressive things were here are some numbers that we would love to share with you guys:
- The number of trades executed triple in the last 24hrs.
- The number of new account opened went from 60k for March alone to 75k new account created for the first few days of April! We now have roughly 20,000 new accounts created each day.

Due to these facts we have been busy working on improving things since last week and our team has been working around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today and in the coming few days to improve our system overall performance.

Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new servers to our system.

Thank you for your understanding and continuous support!

This was posted from MTGox...I m holding my coin and buying more now that the price is low.
Title: Re: BC dropped 18% in the last few hours. Sell or wait ?
Post by: CallmeBruce on April 11, 2013, 05:58 am
Buy more coins while the price is in its dip. I was planning a purchase and was about to tip some coins in when I saw the prices diving. Like everyone I had that sick feeling, but I trust the currency. Waited....waited....waited.... then when it looked like it was on the rise again. Bought.  I might be a financial idiot but today my lucky timing got me some extra free drugs. YAY.