Looks more like Poseidon every minute. In January 1970, a mate of mine in the bank had just finished paying off his house. He re-mortgaged it and put the lot on Posiedon at 280 Pounds a share. He lost the lot, including his marriage.
START TOKYO - JAPAN - April 11, 2013 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 tripled 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! Regards Mt.Gox Co. Ltd Team. Mt.Gox Contact [email protected] END
Anyone investing in silver/gold shout be following this because this is the pointy end of the stick where the real money is made or lost and will happen to us sometime. Personally this last washout looks real healthy... personally I am not buying but studying like mad
I agree completely, it was very interesting to watch a few people here lose out big time (not lose money, but lose profits) due to greed. It was also interesting watching people willing to pay 10%+ over spot (is that what they call it on bitcoin?) just to get there hands on some hours before the collapse.
Very textbook example - but I see that as rather healthy and a welcome change to the markets we see on a daily basis
It's a rollercoaster and you really won't understand what's it like until you are on it. Then all kinds of thoughts start wandering through your head and thinking clearly becomes a struggle as emotions start to run wild. Imo, to navigate a bubble successfully you need to have at least experienced one close up with skin in the game. Even then, there are no guarantees you'll be successful. But yeah, me and others were trying to communicate our thoughts and feelings during the whole thing. I would say it's worthwhile to study them.
People are still clamouring to get them even now as they fall, I know this cause I'm the one selling them on here and I can't keep up.
Not asking you do give any numbers away but are you talking people wanting to buy substantial amounts of bitcoins or people wanting to get a couple just to see what the fuss is about ? Even I have been considering getting a few just as a learning process.
Those that have been in PMs for more than a couple of years got a small taste of it with the run up in silver to $48. You can read the posts if you find some of the older threads. Or if you had shares in 2008 you got to experience the same thing in the exact opposite direction.
Most people only a few, I'm only doing $500 max transactions per person due to trust, I am sending the BTC out before bank deposits are showing in my account - so trying to mitigate my risk. I think some would probably be keen for $2000 (or more) worth if I accepted it though...
