Bitcoins!

[huayra.agera]

It's now $4.3 per BTC! Just wow!

 

[n-ster]

Yea someone just bought 50K$ in BTC

 

[huayra.agera]

Yea someone just bought 50K$ in BTC

So that's how it is? I think I read a thread about a 45K $ LR being held by Mt.Gox at the Bitcoin forums, is that related to this occurence?

 

[entropy13]

It's now $4.3 per BTC! Just wow!

That's great! That means I now have $1.72 worth of BTC!

 

[huayra.agera]

The high was at 4.99$. Things are moving so fast in terms of the value of Bitcoin going up. In just like 5 months right?

 

[n-ster]

So that's how it is? I think I read a thread about a 45K $ LR being held by Mt.Gox at the Bitcoin forums, is that related to this occurence?

dunno

What matters is not the high, what matters is what the people will set the price to. atm 4.30$ seems to be it. This isn't the greatest thing for bitcoin, it has tto stabilize before anyone serious considers it. and 50K in a 30 Million dollar economy should NOT make such a difference

 

[DarkOCean]

The thing is that difficulty has raised again with 50%.

 

[huayra.agera]

It seems I'm a little bit obsessed with the rates, it's now 1 BTC = 5$. =)

 

[n-ster]

The thing is that difficulty has raised again with 50%.

yes butthats to be expected, thee profit rate of BTC is too high for its own good atm

 

[AphexDreamer]

Guys should I just keep saving my bitcoins?

I'm really tempted to cash some out.

 

[entropy13]

Guys should I just keep saving my bitcoins?

I'm really tempted to cash some out.

Willing to give me some?

 

[AphexDreamer]

Willing to give me some?

Classic

 

[entropy13]

Classic

I now have 0.46 BTC btw.

 

[AphexDreamer]

I now have 0.46 BTC btw.

I remember my first BTC.

 

[huayra.agera]

Maybe let's cashout when it's stable @ 1:10. (Wishing) =)

 

[n-ster]

Guys should I just keep saving my bitcoins?

I'm really tempted to cash some out.

You can, BTC is very unstable atm... It could rise to incredible highs like 10~15$, or have a HUGE correction down to 1$. Before this guy bought so much BTC, I was sure that from 3.9$ we were going to go down around 3$, so I sold 130 3.865$ BTC right before the sudden rise I have 255 BTC left, so imana probably sell off at least 55 BTC, maybe up to a 100.

If you have time today, it is time to monitor BTC VERY closely.of my 380 BTC, almost 200 BTC I mined, 80 I bought at 0.8$ each, and 100 I made by profit of buying and selling at the right time.

How much BTC do you have? it may be wise to slowly sell. If the BTC is not that much money to you though, to maximize profits, selling at the start of a downtrend may yield most money, but would be risky and you'd have to monitor very closely. Else it is more subjective. Go to https://mtgox.com/trade/history and click depth of market. Then look at the difference between Ask and Bid. When there is a big difference, it is a danger zone, as anything could happen. Unlikely atm though, is that when that happens, people stabilize the prices in between the 2, that rarely ever happens. More likely is that there is a temporaary fall and then back up, some people panic when there is a sudden price drop (some guy sells 1 BTC at the highest bid and mt.gox drops by alot = Panic), and then noone else does that. most of the time the "back up" is a little lower than the origin. Another possibility is that a buyer buys up all the low value asks. If the lowest ask is 6$, but there is only 100 BTC for sale in total between 6$ and 6.25$, and then at 6.25 there is 500, chances are a buyer will buy up to 6.25 and leave the 6.25 resistance alone. In a big gap of Bid/Ask, If there is a big resistance in the bids (high number of BTC) then chances are prices rise, and vice versa (if Ask has a high resistance, prices usually fall)

I just woke up and I'm babbling, no idea if I'm making sense, but hopefully I helped someone xD As you can see, it seems that the buyer who bought all that BTC is selling at 10$ (edit: it disappeared it reappeared!)... He's been trying to push it to there and make huge profits. as of 10:09 AM EST, prices seem stable, highest bid is 5.82X, and lowest ask 5.9, higher resistance in general in the Bid, so for now it seems we are on route to 6$. Also watch out for psychological resistances (ie 5$, 6$) as around those points,volatility is higher usually. From 6$ we may shoot to 6.50$, or drop back down to 5$~5.6$ for example. It seems it will not be as volatile as that for now though.

Sorry this is very long, but my thoughts are not straighten out yet Good luck though!

P.S: I may sell a few BTC, but not much atm, and wait to see what happens. Oh, and I remember my first 50 BTC (block) back in Febuary

EDIT: so I think I will put for sell a few (at least 50 for now) in the 5.945~6$ area, just to have a bit of safety, the 6$ resistance (over 1000 BTC) is pretty high and makes me nervous

EDIT 2: Resistance is building up in the Ask region, I may just sell around 5.89$ just in case

EDIT 3: a gap is starting to form between 5.82 and 5.89.. and now it is formed new gap of 5.8~5.9 is starting to form.... 2 small resistances are forming both on the Ask and Bid side, so the outcome will probably decide the short term trend. Now a bigger resistance has formed in the Bid side, prices may catch up to 5.89 again. 5.7~5.89 gap as appeared. We should hope there are no more panic sells as that would confirm a short term downtrend to 5.5~5.6

 

[huayra.agera]

Very nice insight. I myself am already about to build a rig with 2 5850 (so affordable) to add to my 6850 rig. I computed so far and mining IS profitable atm minus all the fees and electrcity, ROI. Well I'm also hoping for prices to stabilize so that we get more control on when to cashout or buy. =)

 

[n-ster]

Unfortunately, seems there is a VERY low amount of buyers now, and a downtrend seems likely. However, putting up for sell at the prices now may just accelerate the downtrend and fuck you over

ie: if I put my 53 Ask of 5.8978 to 5.7897, then a downtrend may just happen and I won't get anything sold and value would drop. price is just too volatile and fragile right now. I'm hoping that a buyer starts buying so I can sell off some of my BTC before the potential downtrend starts

EDIT: F that, I'm gonna risk it and change my 53 BTC Ask to lower xD You can blame me if a downtrend starts

EDIT 2: good stuff, buyers have appeared big resistance in Bid at 5.7, hoping this will push to 5.8 again. FUUUU it disappeared wtf lol I have the lowest Ask for now, hopefully I get bought some resistance reappeared at 5.7, much needed to not fall at 5.65. and it disappeared

EDIT: 5.66~5.79 gap formed, still hard to predict but downtrend seems to be continuing. I think our best bet is to force a bigger gap so that buyers have to raise their bids.... imana put my 53 to 5.85... So I just made a potential wider gap.... if the 5.789 Ask gets fulfilled, things will be much brighter. And ofc, a panic seller had to put a 5.75 Ask Downtrend it seems will be accelerating. I'm now panic selling myself probably further accelerating the downtrend. I now decided to fill the gap by 3 psychological BTCs, so that the gap seems smaller, and there i a small "staircase" to a my bigger Ask. I think the 150 is intimidating for buyers so ill split it up

EDIT: I just shorted 153 BTC as I see too muuch of a downtrend for my liking, and I'm keeping 100 BTC for a just in case prices rise high again

 

[matteumayo]

Hmm I only made .1 BTC in the last 8 hours... hopefully just a fluke...

EDIT: Also are there any better pools than deepbit?

The G/hash is near 600 right now and I feel that I won't make as much because of this... on average I make .6-1.2 I'd say (every 8 hours).

EDIT2:

Also I need to clear something up. I get ~270 m/hash with my 5850, which averages to 0.04-0.06% of the pool's speed.

My friend who has ~350 m/hash with a 5870 is getting 0.16-0.26% of pool's current speed.

So even though he has less than 100 more m/hash than me he's been getting a regular income of 3-4BTC a night.

What's going on here???

 

[n-ster]

it "looks" like your making less but in reality you are making as much, but your payments are more frequent.

atm there are many small pools that are emerging with very low fees. I myself wont switch to them until they have proven their trust

 

[matteumayo]

it "looks" like your making less but in reality you are making as much, but your payments are more frequent.

atm there are many small pools that are emerging with very low fees. I myself wont switch to them until they have proven their trust

Thanks for clearing that up.

Could anyone explain the weird rate my friend's getting?

 

[AphexDreamer]

it "looks" like your making less but in reality you are making as much, but your payments are more frequent.

atm there are many small pools that are emerging with very low fees. I myself wont switch to them until they have proven their trust

You mine solo this whole time? I've got 20bitcoins atm.

I've sold like 127 bitcoins so far.

 

[n-ster]

no im on deepbit, not switching to smaller pools until... sry busy atm, but matt, that seems really weird

 

[huayra.agera]

I think I'll be happy if the value of BTC stabilizes at 5$.
Seems like @nster is close to the prediction he mentioned. I just hope it does not go down to like 1:1. If it does then obviously it could be a good time to buy BTC instead of mining. Win-win I guess? If value is up then mine. Just my thoughts.

 

[theJesus]

Yeah, I decided I'm not going to mining since it's summer and my room gets hot as hell. I don't need the GPU making it even worse.

If I get a job soon, I might eventually just buy some BTC and start trading. It's like the stock market with only one company to purchase shares of