That's why you short it instead of just waiting around in fiat. I'll make an absolute fortune if bitcoin crashes to nothingness.

Give it a few more hours. Even with China now up, we're still moving mostly downwards. BTC-e is way under the rest of the market (a dominant sign these days that the price will continue to move down) and despite some recent buying power in the past hour or two, shorting is still either uncharacteristically expensive (Bitfinex) or trading at a significantly lower price than on the trading half of the exchange (OKCoin).

It's kind of like what happened with Dogecoin last January. It popped onto Cryptsy at 220 satoshis, gradually went down, and down, and down, and down, and down. This was despite being the most well known coin at the time behind Bitcoin and Litecoin, having the highest individual transactions volume of all coins, and literally being the most talked about and used coin (behind bitcoin) at the time. But, it just kept going down and down and down.

Eventually, it bounced hugely to nearly 300 satoshis. We may see something like that here.

...or we may not.

The market moves down when BTC-e is further below the market than usual. When they're closer or even at or over like they were few weeks back for a few days, it's usually a pretty good sign that the market is going to be going up (which it did).

Looks like we're going back down from the recent spike. Odds are it was mostly a couple whales slowly buying more coins, thinking that we're at the bottom. I'm glad I didn't close any of my shorts - I was very, very close to beginning to close some of them. It looked kind of strong because it was so gradual. I think we're going to be going down for a bit longer now. Probably going to see high $200s.

$250 is kind of an odd entrance point. It's just a tad lower than the $275ish of a couple weeks ago and the $266ish ATH of early last year. If it hits $250 now, after already testing the previous ATH a couple weeks ago, what's stopping it from continuing to sink?

If it hits $250, it's not going to stop there.


If it wasn't for the Gox situation, BTC would have never pumped so high in the first place. Nonexistent US withdrawals on Gox + Mt. Gox bots + Chinese whales caused that pump.

So, let's get this straight - by exploiting a "vulnerability" in regards to Bitcoin, a Tor user may connect with his underlying IP address.

How does that equal "Tor is broken"?

Tor was never meant to be a seamless way to use the Internet anonymously. Tor does not protect against stupidity and poor implementations of Tor.

People seem to have forgotten how badly bitcoin tanked last time there was an auction. It was only shortly after the auction completed that the bitcoin price went up a bit.

Yet, this time the price did not decrease because of the news of an auction. A sell order like this should move down the market, but it hasn't really so far, which means we may be having a little bit of a correction here. I do not expect much positive movement between now and when the auction is over, as positive movement as a direct result of a sell order is a complete nonsequitur. I also don't expect much positive movement right after the auction, as there is no ground to make up - bitcoiners are treating this auction like some big investor will just buy them all up like last time, so a good result is already priced in right now.

It's a bad week to be long, with one exception: if you think the price is being artificially deflated so that someone can buy the coins at auction for a lower price.

"I just paid [insert number between 1 and 10)% under market price. This is the price that large amounts of coins often sell for OTC and it wasn't any different here."

Actual reality.

That's where you live and I would assume in quantities below 5-digits USD (I've never met someone anywhere willing to pay a rate like that above 4-digits). Some areas are buyers' markets and some areas are sellers' markets.

The US Marshalls are selling into a declining market, which is generally going to cause buyers' market characteristics. (Large sales go for below ticker price.)

There is a certain level of logic to that prediction, though. We pumped a couple weeks ago up to $485 on OKC futures, which is practically $500 in itself. Add in the hypothesis that the price is purposely suppressed before an SR auction and there's a reasonable case that we're due for an end of the year pump.

Money doesn't disappear.

I wouldn't be surprised at a drift back to mid-200s.

Probably a lot of shorts will get liquidated if it gets approved and the price will bump up a bit and then settle once people realize a Bitcoin ETF isn't going to change the world.