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BitCoin Drama Continues After Hours

Submitted by Tyler Durden on 04/10/2013 19:54 -0400

Think the great BitCoin drama is over? After plunging by over 60% intraday, touching $100 from an all time high of $265 earlier, BitCoin was just getting started, posting a just as epic rebound to $200 in mere hours... before tumbling once more to $125... before rebounding again to $180... before sliding to $140... and so on. As the vomit-inducing sequence above hints, merely following every twist and turn of the real time tragicomedy that is the minute chart of BTC is a full-time job. And with the bulk of assorted BTC price charts DDoSed into oblivion, or merely down due to record traffic, the only remaining real-time chart may be the following from Clark Moody: we suggest using 1 Minute resolution. Perhaps what is most fascinating, is that unlike regular stock, FX or commodity charts which are largely dominated by robots, algos and other electronic traders, the trading in BTC is purely carbon-form based. So for those who enjoy some seriously hypnotic after hours undulations, this chart's for you.

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Wed, 04/10/2013 - 21:50 | 3434811 UH-60 Driver

Why are they fucking? I "downed" you too, for lack of class.

Wed, 04/10/2013 - 22:04 | 3434852 mick_richfield

Damn, I have to quit drinking.

Thu, 04/11/2013 - 06:14 | 3435533 Bicycle Repairman

"Have you heard of this thing called subjective theory of value? It's kind of what all economics is based on."

What about the "rational market theory"?

LOL.

Wed, 04/10/2013 - 20:02 | 3434376 Cojones

Technically it does look pretty stable. Ditch the emotions, trade the candles and it makes perfect sense. From a technical perspective, that is.

Wed, 04/10/2013 - 20:12 | 3434423 cdntrader

Agreed. Pretty standard pattern. Not much different than the recent JGB chart I just looked at...!!

Wed, 04/10/2013 - 20:16 | 3434443 francis_sawyer

Trade?... Did you say 'TRADE'???... For what? Fiat?

~~~

But for a month, all the bitcoin clowns have said that the whole purpose to get into bitcoin was to ditch fiat...

Hypocrites...

Wed, 04/10/2013 - 20:35 | 3434518 dark pools of soros

I go from bitcoins to gold and back and forth.. I only send fiat into bitcoins, not out to fiat (bought more at $141 today)

so all the exchanges get attacked today and you blame bitcoins.. yet HFT have been attacking the market forever with flash crashes, JPM destroys silver, and everything else from LIBOR to ZIRP is fabricated, yet only bitcoins must be free of any attacks?

and you seem to root for TPTB.. makes you pretty pathetic & weak

Wed, 04/10/2013 - 21:09 | 3434631 francis_sawyer

Most here [myself included] only 'ACCUMULATE' gold & silver... We don't TRADE it... I've never sold an ounce [only lost them in boating accidents]...

~~~

I could care less about JPM... They're not 'destroying' silver... All anyone needs to do is look at their stack to see that... Private stacks don't disappear if Blythe naked shorts a gazillion contracts...

& the further point is that most of you have spent countless hours mouthing off about how bitcoin was resilient to these kinds of attacks [which might have some truth to it, TECHNICALLY ~ but can easily be done SYNTHETICALLY ~ as I detailed in a hypothetical comment later in this thread]...

Thu, 04/11/2013 - 00:48 | 3435297 margaris

That's what I do too, only that I do think that at one point in the future i absolutely WILL SELL my silver (probably not all of it) and buy something (undervalued compared to silver) that is important in life.

Maybe land, a house, wife(s)? etc..

You accumulate something because you believe that it has a future capacity of high value... so you can CONVERT it into something important, later.

It's just a stupid metal, come on. (and I say that as a metal lover)... Why else would you want to accumulate anything.

But in this fiat world this stupid metal has characteristics that make it a very SAFE BET.... and that's where the ACCUMULATION comes in.

It's the SAFE BET in those "total fraud and scam times" that makes you ACCUMULATE it now in the first place. Because where would you want to invest it, now that everything has insecurity attached to it?

You HAVE TO WAIT, and that's why you ACCUMULATE. To spend it now would be unwise.

But I can guarantee you there will come a time where you will USE that silver, and if not you, it will be your children.

PS There are things that I like to accumulate and NEVER sell, but those are not really things, they are called liberty, freedom and knowledge. Those I will not give away for any price.

Wed, 04/10/2013 - 22:08 | 3434871 A Nanny Moose

Since my tragic boating accident, it is impossible for HFT to attack my silver, at the bottom of the lake, river, sea, or ocean (I'll never tell which).

Speaking of HFT. What will become of BTC if it makes it far enough, that if catches the attention of these guys with high speed, low drag network connections plugged into the backbone of the exchanges? Look at the carnage wrought by a few low speed, high drag, connections across the interwebs.

Wed, 04/10/2013 - 23:08 | 3435071 i-dog

I don't for a picosecond believe that those "deaf, dumb and blind" quants with the lightspeed network connections and terahertz processor banks have never heard of BitKon.

Indeed, I got a chuckle out of reading an ad for a 50 GHz BitKon "miner" which a muppet can buy for $2,500 and "get rich quick"! ... (btw, I'm typing this on a 5 yrs old, 16GHz desktop...won't need much of an upgrade to get rich quick, apparently....)

Wed, 04/10/2013 - 23:29 | 3435141 ManOfBliss

Are you going to be reporting this capital gains from trading to the IRS?

Or are you going to evade taxes, because you're using a crypto-currency?

Thu, 04/11/2013 - 01:18 | 3435339 francis_sawyer

LOL

~~~

Maybe he'll offer to pay his taxes in bitcoin... That ought to go over well...

Thu, 04/11/2013 - 06:17 | 3435537 Bicycle Repairman

"But for a month, all the bitcoin clowns have said that the whole purpose to get into bitcoin was to ditch fiat...

Hypocrites..."

Of course it's time to call BS. They may have started out as world changers, but a little bit of Uncle Bennie's Magic Printed Elixir turned them into to speculators in a matter of hours.

It's a hellava drug.

Thu, 04/11/2013 - 08:30 | 3435706 francis_sawyer

Right now ~ they're spending all their bitcoins to buy the book from that "Channeling Stocks.com" dweeb...

~~~

See ~ what you do is, you buy low & sell high... The same stock over & over... LOL

Wed, 04/10/2013 - 20:12 | 3434424 a growing concern

Somebody made a fuckton of money today.

Wed, 04/10/2013 - 21:15 | 3434669 Likstane

Only if they were able to get their BTC exchanged for AG/AU. I still haven't heard of someone procuring hand held physical for their electrons. Not saying it hasn't happened, I am just not aware of it.

Wed, 04/10/2013 - 23:39 | 3435179 RebelDevil

Word on the street is that you can buy physical using BTC.

Wed, 04/10/2013 - 23:51 | 3435208 phyuckyiu

Word on the street is not one poster here has received gold coins in the mail for their bitcoins. Reality Bites.

Wed, 04/10/2013 - 20:24 | 3434480 AllThatGlitters

Technically it looks stable? Tell that to the people bitcoin pumpers pumped into at $260 and are now wondering why they lost 40% of their money in a few HOURS.

Unlike Gold and Silver as they were taken down, there was no time to get out of Bitcoin only marginally scathed.

Wed, 04/10/2013 - 20:32 | 3434500 Cojones

I said technically, I also said to ditch the emotions. Which part didn't you inderstand?

Wed, 04/10/2013 - 20:37 | 3434525 dark pools of soros

there's a holy war vs bitcoins here.. no use reasoning with them.. just call them names

Wed, 04/10/2013 - 22:05 | 3434861 mick_richfield

Or maybe ... go away ?

Wed, 04/10/2013 - 20:55 | 3434580 AllThatGlitters

No emotion here, unless amusement can be classified as an emotion.

You can call it "technically stable" or apply whatever label you like, I still call it "losing half your money" and then rationalizing the loss, rather than facing up to reality.

If TA allows for a 50% haircut inside of hours, and tells you that the security being analyzed is just stable and just fine, of what value is TA, or even "stability" for that matter? Answer: There is no value to it.

By the way, in classical TA, if something drops hard, as BTC did, and then "stabilizes," it is typically considered a consolidation phase and odds are that the next big move is going to be a continuation move in the direction of the prior wave. Calling the consolidation phase "stability" sounds like a biased agenda to me. I consider most of it to be mere gobbledy gook.

Wed, 04/10/2013 - 21:22 | 3434695 XenoFrog

There's nothing technically stable about what happened today. Not even by the delusional dictionary bitcoiners use.

Wed, 04/10/2013 - 20:03 | 3434380 AlaricBalth

If I want to ride a roller coaster I'll go back to Cedar Point.

Wed, 04/10/2013 - 20:08 | 3434407 Tijuana Donkey Show

America's Rollercoast baby! Get the fried cheese block by the Maverick for the ultimate thrill.

Wed, 04/10/2013 - 22:58 | 3435042 Almost Solvent

Millennium Force!

Wed, 04/10/2013 - 21:38 | 3434760 AllThatGlitters

Is the Blue Streak still there? I had to stand on my tippy toes to reach the minimum height requirement to ride.

Wed, 04/10/2013 - 20:36 | 3434519 Miss Expectations

All aboard the "Vomet Comet"...Zero Gravity

http://www.youtube.com/watch?feature=player_embedded&v=2V9h42yspbo

Wed, 04/10/2013 - 22:47 | 3435005 TraderTimm

This is what a real decline looks like - the "dead cat" bounce, all of it. It isn't unusual -- or perhaps it is, if all you're used to is Bernankes endless inflow of POMO.

I know it seems shocking, actual markets having actual *gasp* declines, but that is what happens in REAL markets. You've simply forgotten, is all.

Move along, we'll be having the same discussion when we're having a massive decline from $500.

Wed, 04/10/2013 - 23:54 | 3435212 phyuckyiu

60% drop, not unusual, nothing to see here, KEEP BUYING.

Thu, 04/11/2013 - 05:39 | 3435518 draug

BTC is still an extremely thin market. 60% doesn't surprise me in the least after a huge viral publicity spike. What remains true is that there are still more total bitcoin users now than before the bubble, and the more the market cap grows the smaller the fluctiations will be (percentage wise.)

Thu, 04/11/2013 - 05:34 | 3435516 draug

Lol, it's so funny seeing all the old farts on ZH who don't understand technology. Or value for that matter. EVERYTHING reaches its end value of zero eventually, since value is subjective and goes away when all the humans are dead. In the meanwhile, if someone wants to trade for bitcoins, it has value per definition.

Wed, 04/10/2013 - 19:57 | 3434346 bnbdnb

Just proves HFT is for skimming, and you can have plenty of volatility among humans only.

Wed, 04/10/2013 - 19:57 | 3434350 Bicycles and Beer

fuck this.. im going for a bike ride.

Wed, 04/10/2013 - 19:56 | 3434353 statelessman

Looks like over $30 million has traded hands today on MtGox, I don't think we will have a stable currency until it starts to get up above $100 or $200 billion in market cap, if that ever happens of course.

Wed, 04/10/2013 - 20:03 | 3434383 Ahmeexnal

time to have 3000:1 levered buttcoin?

Wed, 04/10/2013 - 19:58 | 3434356 MonsterBox

Bitcoins, tulips..... what's the difference?

Wed, 04/10/2013 - 19:59 | 3434363 Bicycles and Beer

you can eat tulips.

Wed, 04/10/2013 - 20:07 | 3434404 Perseid.Rocks

..but you can't buy things online with tulips. at least the tulips I've seen don't have much of an aftermarket.

Wed, 04/10/2013 - 20:10 | 3434412 kushmere

Some people are cashing out like mad fools on bitcoinstore.com

Wed, 04/10/2013 - 20:14 | 3434431 Ahmeexnal

The whole of mankind revolves around two lips.

Remember, Troy was lost because of two lips.

Wed, 04/10/2013 - 20:41 | 3434535 MonsterBox

Tulip Mania of 1636-1637

http://www.stock-market-crash.net/tulip-mania/

tulip speculators = bitcoin speculators = idiots

only difference is bitcoin isn't going to bring down an economy, not all by itself anyways.

Wed, 04/10/2013 - 22:07 | 3434866 mick_richfield

I think almost 400 years is long enough.

I'm getting back into the market, slowly.

But only pink ones.

Wed, 04/10/2013 - 20:37 | 3434521 mbutler101

You can trade tulips for pussy

Wed, 04/10/2013 - 20:05 | 3434399 Silver Garbage Man

You can throw tulips on the bed and pound your wife on them!

Wed, 04/10/2013 - 20:22 | 3434476 urbanelf

Girls like tulips.

Wed, 04/10/2013 - 19:59 | 3434365 swissaustrian

Volatility is calming down now. The next big move decides the overall direction for the comming days. The fact the counter rally to 200 was sold isn't a good sign for the bulls.

Wed, 04/10/2013 - 20:02 | 3434379 statelessman

We will have this issue in price until the price shakes out all the old large coin holders, hopefully selling into many other hands.

When they put in a market order for 10k coins it just drags the price down until all the coins have sold.

Wed, 04/10/2013 - 23:56 | 3435218 phyuckyiu

Wow 10k coins and you can crash the price %60? Soros will be ALL OVER this shit.

Wed, 04/10/2013 - 20:00 | 3434367 tuttisaluti

they don't know what they want

Wed, 04/10/2013 - 20:06 | 3434406 nmewn

A new app maybe?

Wed, 04/10/2013 - 20:11 | 3434420 krispkritter

BitTrapApp...

Wed, 04/10/2013 - 20:21 | 3434470 nmewn

BitVoliAppV2.5MegaEncryp...lol.

It can only be one of two things in my estimation...a ponzi or Lord Fiatmunroy is throwing a hissy fit against all things not paper.

Wed, 04/10/2013 - 20:01 | 3434373 Cursive

Sounds like somebody released a Fibonnacci algo.

Wed, 04/10/2013 - 20:07 | 3434389 francis_sawyer

266 [top tick]... 90% retracement [based on 89 fibo] = $26.6

~~~

But what's going to be even more hysterical is when the 'Elliott Wavers' jump into the mix & start doing predictions... & putting ABC 123's on it...

That'll be a hoot...

You'll have all the fucking bitcoin dweebs who have been regaling everyone with crypto techno babble for the past month over at Daneric's trying to catch falling knives & time reversals...

Wed, 04/10/2013 - 20:16 | 3434436 a growing concern

Shoulda blamed the Jews... woulda gotten less downvotes than making fun of bitcoin dweebs.

Wed, 04/10/2013 - 20:18 | 3434455 francis_sawyer

Nobody likes anything I say anyway...

~~~

People don't like to hear the truth...

Wed, 04/10/2013 - 20:43 | 3434541 oddjob

The truth is palatable to most plebes if Jon Stewart places it within a joke.

Wed, 04/10/2013 - 21:22 | 3434688 francis_sawyer

I ain't no John Stewart... But my first comment had some wry humor in it... I managed to diss Bitcoiners & Elliott Wavers in the same comment [while avoiding jews]... I should at least get a 5.6 from the Russian judge for that!

Wed, 04/10/2013 - 21:59 | 3434846 a growing concern

Should've channeled MDB and thrown in "doomer libertarians" too.

Wed, 04/10/2013 - 21:16 | 3434670 Crash Overide

Is this a test run like Cyprus?

Wed, 04/10/2013 - 20:01 | 3434374 put_peter

It appears that the algo trading consequence of everything is converging... which in this modern world i'd say is suprising.

Wed, 04/10/2013 - 20:02 | 3434375 The Second Rule

Looks like a standard "textbook" 5-wave triangle to me...and if I'm right then further declines should follow.

Wed, 04/10/2013 - 20:13 | 3434426 francis_sawyer

Great!... Right on cue... Enter the 'Elliot Wave' bunch...

~~~

Whereby Prechter himself says that EW should only really be applied to the DJIA...

WTFever

Wed, 04/10/2013 - 20:40 | 3434509 The Second Rule

Uh...no. Prechter did not say that. Why do you post horseshit that can be debunked with a 30s web search?

Anyway this looks like a horizontal triangle pattern, a corrective pattern.

Wed, 04/10/2013 - 21:30 | 3434718 francis_sawyer

I'll get back to you on that one...

~~~

A good friend of mine is an Elliott Wave DIE HARD... I must admit I only understand it on a basic level... Anyway ~ This guy knows Prechter & Neely like some Christians spout Bible verses... I seem to recall him saying, 'more than once', something to the extent that Prechter considers the DJIA the most reliable measure... & basically, you can apply wave theory to anything you want, but that you'll get very inaccurate & variable results...

Instead of wasting time here... I'll guarantee that's what he told me... & I'm not going to get into a silly argument about whether my friend is FOS or not... I know him to be a very serious [& smart] dude...

So we'll agree to disagree here...

Thu, 04/11/2013 - 03:14 | 3435427 The Second Rule

Well, I'll take your word for it that he's very smart, but the fact of the matter is Prechter did NOT say that--in fact he considers the DJIA one of the most unreliable indices. Just search Youtube video "Socionomics Prechter" and that will put this debate to rest. Socionomics describes herding behavior. Now we might think we are not herding mammals, like wildebeasts, but that would be a mistake. We DO mimic herding behavior, just like any other mammalians on this planet, including us--humans.

http://www.youtube.com/watch?v=RE2Lu65XxTU&playnext=1&list=PL5FB36E3BDE54E80E

Thu, 04/11/2013 - 09:02 | 3435778 francis_sawyer

Don't get me wrong... I'm totally fascinated by the whole 'socioeconomics' thing [& believe it has merit]...

~~~

Seriously ~ I've even used it to PREDICT Kentucky Derby winning horses [which is an interesting experiment, because the KD is a parimutuel pool which has the odd characteristic of producing betting lines that allow you to get favorable long odds on horses many people are overlooking...

Has nothing to do with racing, because what people don't realize is that the KD is a 20 horse race... The best horse rarely wins, & usually the one who does is the one with the best racing luck [which is where, I believe, a socioeconomic dynamic can be applied]...

It's total voodoo... But it's fun...

I'm totally serious about this [below] ~ I've been conducting this experiment since 2010 & here are the results:

- In 2010 I had $200 on the nose on 'Super Saver' ~ WON [paid 9-1

- In 2011 I took 'Nero' $200 across the board & got place & show money

- In 2012 I took 'Dullahan' & had him to WIN & in an exacta box with the winner 'I'll have Another'... I had 20 tickets on that exacta box... Dullahan came in 3rd by a nose [that exacta would have paid $10,000]...

This is where I post my predictions:

2012 KD

http://fantasy-sports-nation.blogspot.com/2012/05/2012-kentucky-derby.html

2012 PRE-SEASON NFL PICKS TO WIN SUPER BOWL [some kinda sucked ~ but I had the Ravens winning the Super Bowl back in August]

http://fantasy-sports-nation.blogspot.com/2012/09/fsn-2012-nfl-predictio...

END OF YEAR WEEK BY WEEK NFL [ATS] LINES

http://fantasy-sports-nation.blogspot.com/2012/12/week-17-nfl.html

~~~

If you're curious ~ I haven't made my 2013 selection yet [the field is not even set yet]... But I have a strong eye on 'TIZ THE TRUTH' if he gets into the race...

Fri, 04/12/2013 - 21:29 | 3443703 The Second Rule

Total voodoo huh? Check bitcoin today? Like I said...textbook horizontal triangle.

Wed, 04/10/2013 - 20:02 | 3434384 Racer

Wow some 'real' trading.... at LAST!!!!

Wed, 04/10/2013 - 20:45 | 3434559 Wakanda

Absolutely refreshing - a virtual currency in a real (carbon based trader) market.

Wed, 04/10/2013 - 22:10 | 3434829 palmereldritch

I remember seeing a blurb on the news yesterday about the phenomenal rise in the price of this new alternate currency called Bitcoin and thought, Uh-oh....

Wed, 04/10/2013 - 20:04 | 3434392 kushmere

THE COIN HOLDS OVER $100

http://bestbitcoinsites.wordpress.com

Wed, 04/10/2013 - 20:06 | 3434400 John Law Lives

Maybe TPTB had saboteur traders do this on purpose to destroy confidence in BitCoin as an alternative currency...

Wed, 04/10/2013 - 20:10 | 3434414 francis_sawyer

Oh no... Because for a month now, we were all 'schooled' on how this was not possible...

Wed, 04/10/2013 - 20:14 | 3434427 John Law Lives

This sort of erratic trading crushes longs and shorts. Chairsatan only crushes shorts. Maybe TPTB don't want BitCoin to succeed. Surely they will point to this erratic behavior as a major negative.

Wed, 04/10/2013 - 20:36 | 3434504 francis_sawyer

"Chairsatan only crushes shorts."

~~~

This comment is irrelevant... Supposedly, bitcoins can't be 'shorted'... correct?

So how do you 'manipulate' a market like this if you're the FED?... EASY...

1. You create thousands upon thousands of small little 'dummy' accounts of varying incremental sizes...

2. You print [fiat] money to fund all these little accounts & send the money you printed out of thin air to Mt. Gox

3. Bid Bid Bid Bid for a couple of straight weeks [whilst others are sucked in]

4. At the proper moment... ALGO sell everything [followed by similar buy programs at conceivable STOP levels]... You're trading against yourself...

You don't give a flying fuck if your DUMMY accounts are getting commissioned &/or losing value... It's all PLAY money to you cause you printed it out of thin air...

Not to others though... A couple of days of this & real people will have had it with bitcoin... Even if they hang in there, MERCHANTS won't touch it with a 10 foot pole... You're back to the dark ages of the nether regions of the Silk Road... Sure ~ bitcoin still survives... but it never catches on in a mainstream commercial sense... Especially since there is no legal avenue for you to take your complaints...

Wed, 04/10/2013 - 21:02 | 3434622 kliguy38

Crushed like a bug........they can pull that scenario off in their sleep.....while plundering a few southern European countries simultaneously

Wed, 04/10/2013 - 22:20 | 3434914 A Nanny Moose

Multitasking....Bytchez!

Thu, 04/11/2013 - 00:01 | 3435224 phyuckyiu

You don't even need Central Bank amounts of money to pull this off, any billionare will do. Soros loves this shit personally.

Wed, 04/10/2013 - 21:43 | 3434727 John Law Lives

"This comment is irrelevant... Supposedly, bitcoins can't be 'shorted'... correct?"

My comment re. Chairsatan crushing shorts was re. the stock market and the incessant pumping that is crushing shorts.

As for "shorting" BitCoin, this article offers a strategy (posted on April 9, 2013):

http://helpthesheeple.com/2013/04/09/the-bitcoin-bubble-and-how-to-short...

----------------------------------------------------------------------------------------

excerpt:

"But for those looking to short bitcoins right now, there are two notable ways to do it:

Bitfinex: A Hong Kong-based bitcoin exchange based in Hong Kong, Bitfinex allows ordinary bitcoin holders to act like brokers and lend bitcoins to people who want to trade them. The exchange does a lot of this automatically.

ICBIT: ICBIT allows traders to make bets using futures—financial contracts in which a buyer agrees to buy a security, in this case a bitcoin, at a future date at a predetermined price. Futures contracts can be bought and sold, so you can make money without buying the actual bitcoins themselves. This platform will also let you trade commodities, such as oil, in bitcoins."

Wed, 04/10/2013 - 22:35 | 3434961 mccoyspace

I'm on Bitfinex. It's an interesting exchange. New, and still in beta, but the way they do margin lending is great. I've been offering some bitcoins up for the bears, but there really hasn't been much demand. You can get amazing rates right now if you want to go short. Not many takers. The demand for USD loans for going long on margin did drop today. It's starting to come back now.

What bitcoin really needs is better exchanges. Mt.Gox is a big weak link.

Thu, 04/11/2013 - 01:37 | 3435358 John Law Lives

Thanks for the note. Quite interesting.

Wed, 04/10/2013 - 20:23 | 3434479 knukles

Exactly.
Impossible...
Like Marcellus felt when in the basement with Butch, the Geek and the two fellows now gonna be torched and beaten to death.

Impossible...

_{BTW weren't one of the Bitcoin guys also associated with Google?
Bit (LOL) telling right there, no? Given Google's all in love affair with the NSA, et al....}

Wed, 04/10/2013 - 20:44 | 3434548 enloe creek

it was the gimp not the geek I beleve.

Wed, 04/10/2013 - 21:05 | 3434624 dick cheneys ghost

I thought it was Zed...........

Wed, 04/10/2013 - 21:45 | 3434781 malikai

Yea, but Zed's dead honey, Zed's dead.

Thu, 04/11/2013 - 03:34 | 3435442 The Second Rule

He never said anything about being beaten to death. He said "pliars and a blowtorch." Accuracy in media.

Wed, 04/10/2013 - 20:06 | 3434401 nmewn

Stahbiliteee!!!

Wed, 04/10/2013 - 21:22 | 3434701 gould's fisker

xactly, once the webnopoly money crashes we're one step away from wampum.

Wed, 04/10/2013 - 20:05 | 3434402 villainvomit

As the vomit-inducing sequence above hints

As the villainvomit-inducing sequence above hints..... FIXED !!!!!!

Wed, 04/10/2013 - 20:12 | 3434419 Yen Cross

Gotta have a couple cases of Rolaids handy to trade BTC.

Wed, 04/10/2013 - 21:47 | 3434798 WmMcK

Long betaine HCL and pepsin, short antacids.
You need to digest your food.

Wed, 04/10/2013 - 20:13 | 3434422 rsnoble

So does this mean you can buy a house with one bitcoin right now, and a mcdonald's cheeseburger 30 seconds from now? I guess I don't understand how it works yet I suppose I now have more bs to read.

Wed, 04/10/2013 - 20:16 | 3434437 jeebus

Well, it was a car 6 hours ago. Now, a bitcoin probably only buys a tv. In 3 days, a bitcoin will probably buy you a bag of weed.

Wed, 04/10/2013 - 20:21 | 3434468 lasvegaspersona

jeebus

does that mean a higher or lower price. I haven't purchased said substance since the 70s.

Wed, 04/10/2013 - 21:35 | 3434752 francis_sawyer

In 4 days, you'll be out of weed & out of purchasing power & trying to stuff your digital wallet in a bong & smoke it

~~~

[just a joke ~ no offense] :-)

Thu, 04/11/2013 - 00:06 | 3435229 phyuckyiu

4 days for an eight? You twist up some serious fatties Francis, I wanna roll wit chu mang.

Thu, 04/11/2013 - 04:35 | 3435480 jeebus

The people still involved with bitcoin at this point have to know that they risk losing it all very quickly.

Wed, 04/10/2013 - 21:09 | 3434641 wisefool

If you want to 1000 of something, rice is your best bet!

Wed, 04/10/2013 - 21:32 | 3434741 hyperbole2000

Apparantly, high school was the llast time you bought a bag of weed.

Wed, 04/10/2013 - 20:13 | 3434425 ejhickey

i wonder if someone is trying to manipulate the price

Wed, 04/10/2013 - 20:12 | 3434428 Bingfa

Digital currency + Internet = Hacker snack feast

good luck.....

Wed, 04/10/2013 - 20:15 | 3434435 wisefool

All your base (metals) belong to us!

Wed, 04/10/2013 - 20:18 | 3434456 FieldingMellish

Only the base 2 ones.

Wed, 04/10/2013 - 22:25 | 3434928 A Nanny Moose

There are 10 types of people in this world...

Wed, 04/10/2013 - 20:13 | 3434430 jeebus

I think I may have caused the sell off this morning.

oops!

Wed, 04/10/2013 - 20:15 | 3434434 jeebus

If it wasn't me, I certainly didn't help very much!

Wed, 04/10/2013 - 20:16 | 3434445 Long-John-Silver

It's becoming obvious that the same people who stomp precious metal prices are now attempting to stomp BitCoin in an effort to control it as well. I'm sure at some point TPTB will figure out a way to stomp BitCoin out of existence.

Wed, 04/10/2013 - 20:18 | 3434460 ejhickey

then it will be time for bitcoin 2.

Wed, 04/10/2013 - 21:19 | 3434681 Crash Overide

Technically wouldn't it be bitcoin 2.0?

Wed, 04/10/2013 - 21:41 | 3434771 francis_sawyer

@LJS

~~~

My theory would be that the FED cares less about bitcoin than .gov does...

If the system is being synthetically manipulated [as in the theory I presented earlier], sure, you need the Fed to lend a hand [somebody has to print the money]... But it's .gov that has more to lose from bitcoin becoming mainstream than any of the whale entities in the private banking cartel... Bitcoin is a fucking gnat to them...

Wed, 04/10/2013 - 22:25 | 3434934 A Nanny Moose

Only masochists deploy .0 releases. Wait for the service pack.

Wed, 04/10/2013 - 20:48 | 3434563 David449420

No. They're going to FAIL. Soon.

Wed, 04/10/2013 - 21:23 | 3434699 malikai

http://pastebin.com/h7iGK49T

Maybe true maybe not.

Wed, 04/10/2013 - 20:18 | 3434451 FieldingMellish

Classic sinusoidal response.

Wed, 04/10/2013 - 20:32 | 3434484 VekTor

You should get some store-brand generic Afrin for that... just don't use it for more than 3 days.

The entire "crash" looks like it only unwound the last 48-72 hours of the current blow-off top, when you look at the clarkmoody chart set to D1 (the polar opposite of the Tyler-recommended 1 minute setting).

On that chart, the "crash" is a bit of a yawn. It's still up near the parabolic high, with only a couple of days of retrenchment. Where's the Earth-shattering kaboom?

Wed, 04/10/2013 - 20:46 | 3434560 FieldingMellish

I'm using a cream but it keeps coming back.

Wed, 04/10/2013 - 21:44 | 3434780 FIAT

http://www.ebay.com/itm/PET-ROCK-WALKING-LEASH-Silliest-Gag-Gift-Kraft-Vintage-Gag-gift-funny-/251244637554?pt=Vintage_Antique_Toys_US&hash=item3a7f58ed72

Wed, 04/10/2013 - 20:20 | 3434461 Yen Cross

Can you imagine trading BTC @ 50:1 like regular F/X. I would rather stand in pool of water while fixing my broken toaster.

Wed, 04/10/2013 - 20:34 | 3434512 knukles

Mrs K forgot to put the plastic coffee filter holder in the coffee maker the other day when she had a bunch of friends over and so the machine got a bit dirty. To clean it she decided to rinse it off under the faucet in the kitchen sink.
I've been trying to explain to her why it isn't working anymore.

Don't bother.

It's like having a coupon to get gas 20 cents a gallon off at one station and listening to her tell me the gas down the street at the other station is 5 cents cheaper....
They don't take the coupon...
But they're cheaper

I bought it because it was on sale, look at all the money I saved.

^{(small whining sounds)}

Wed, 04/10/2013 - 21:05 | 3434626 Ahmeexnal

"I feel your pain."

Wed, 04/10/2013 - 23:33 | 3435156 Hulk

Bullish !!! Have Mrs K Throw the damn thing through the window and we will get Dow 16000 !!!

Wed, 04/10/2013 - 20:55 | 3434595 jeebus

There are some absurd bitcoin derivatives out there.

Wed, 04/10/2013 - 20:19 | 3434462 lasvegaspersona

I just don't think I need another medium of exchange and I sure do not accept Bitcoin as a store of value. If some find it useful well fine, play away. For now I'll deal with FRNs and save in a more historically embraced medium.

Wed, 04/10/2013 - 20:52 | 3434583 Winston Churchill

Not quite sure why the cellar dwellers pumping BTC need one either.

Surely their parents are supporting them.

BTC may be the best tech thing since sliced bread.Which doesn;t matter a tinkers

damn, because TPTB are going to kill,subvert or co opt it.

Realpolitik 101.

Wed, 04/10/2013 - 20:22 | 3434471 Spastica Rex

I'm just waiting for a single world currency so I can relax and stop worrying about all this stuff.

Wed, 04/10/2013 - 20:38 | 3434529 rich_wicks

It's called gold.

I know it's basically a useless lump of medal, but it's been money through all of recorded time, in all civilizations. Just accept it, and get over it.

Wed, 04/10/2013 - 21:19 | 3434686 geewhiz

until the coming nwo govt shoots you in the back of the head if they catch you using it.

Wed, 04/10/2013 - 23:39 | 3435173 rich_wicks

I think I have a better chance of surviving with some actual bribe money than I would with a heap of paper certificates with In God We Trust on them if it comes to that.

Wed, 04/10/2013 - 20:22 | 3434472 BurningFuld

Would appear to me bitcoin can be completely manipulated. Get together with 100 of your best friends and start fucking with the servers at your will. Not good guys!

Wed, 04/10/2013 - 20:22 | 3434477 Confundido

Gold is also being bitcoined now!

Wed, 04/10/2013 - 20:28 | 3434481 e m m

Looks like even BTC market maker Perl scripts can make a more tradable market than Ben's one.

Wed, 04/10/2013 - 20:25 | 3434483 Smuckers

Cue sound and image of a ping pong ball hitting the floor:

TIK TIK Tik tik tiktitktitkkkkkkk................

Wed, 04/10/2013 - 20:28 | 3434487 chump666

I live to see carbon life form based trading again, old fashion volatility. It's sadly missed

Wed, 04/10/2013 - 20:43 | 3434549 Yen Cross

Hey chump, BTC @ $250.00 x 1000 micro contract f/x size= $250,000 $250k @ 50:1= $5,000 margin to trade contract. Probably need to price a pip out .0000 points. (4 decimal points) that would be $25.00 a pip on 250k.

Sit back and enjoy the roller coaster ride.

Wed, 04/10/2013 - 21:43 | 3434783 chump666

Yen, you do good on your trade. Send me a bottle of Japanese whiskey.

Wed, 04/10/2013 - 20:32 | 3434499 fuu

"So for those who enjoy some seriously hypnotic after hours undulations, this chart's for you."

Can I get the chart without lines, Harmor will accept visual input for velocity and frequency. NM.

Wed, 04/10/2013 - 20:31 | 3434506 Ricky Bobby

You can take either side of the issue. I say this is a glimpse into the future. It appears to be genuine volatility fueled by a collective search for a solution to the existing monetary order. When the dam bursts final configuration is unknown.

Wed, 04/10/2013 - 20:58 | 3434612 Awakened Sheeple

+ 1

That's an intriguing thought. Humanity unleashed!

Wed, 04/10/2013 - 20:34 | 3434516 ebworthen

Oh God, another roller coaster?

Wed, 04/10/2013 - 20:37 | 3434524 rich_wicks

"Perhaps what is most fascinating, is that unlike regular stock, FX or commodity charts which are largely dominated by robots, algos and other electronic traders, the trading in BTC is purely carbon-form based."

It's so cute that the author actually believes this...

Wed, 04/10/2013 - 20:39 | 3434536 vintageyz

The whole Bitcoin thing seems to open up a completely new area of excuses for why I can't pay...out with friends at the bar and it's my turn to pay for a round. Sorry boys, I forgot my laptop.

Wed, 04/10/2013 - 20:42 | 3434544 Manipuflation

Thank you Tyler. It has been a very interesting economic experiment thus far and the BTC experiment means a great deal to a lot of people. Charts DO mean something even for phyzz holders too and much can be learned by observing the patterns. However, I must give credit to newengland for this astute observation.

Don't fight the Fed on its own turf. That is today's lesson.

Wed, 04/10/2013 - 20:44 | 3434550 Burt Gummer

Is bitcoin a beta test for a new one world order currency?

http://www.youtube.com/watch?v=DlJEX04wG_0

Wed, 04/10/2013 - 20:48 | 3434564 Smuckers

There's nothing much sadder than slain nerd-muppets.
That, and I bet there are some coke addicts going absolutely mental-fucking CRAZY.

Wed, 04/10/2013 - 20:49 | 3434572 enloe creek

maybe some crime syndicate in a 3rd world country with lots of tech set out to dominate bitcoin. but who cares it is a side show

Wed, 04/10/2013 - 20:58 | 3434608 paint it red ca...

Lets see what all is applicable;

Bitcoin, This time its different.

Bitcoin, Ancient Relic.

Bitcoin, TO THE MOON!

Bitcoin, Bubble, bubble toil and trouble.

Bitcoin, Solid fundimentals

Bitcoin, Manipulation......

Bitcoin, G^$&* D&@%$# shorts.

Bitcoin, New World Order.

Bitcoin = Tulips

BitCoin Drama Continues After Hours

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