Quote from: jjtech on November 19, 2013, 02:29:29 PM

Quote from: damnek on November 19, 2013, 02:22:44 PM

What a lot of angry holders also seem to be missing is that traders provide liquidity to the market. Without traders / market makers placing their limit orders, the price could have collapsed completely.

I am not angry. And yes - this is true to some extent. It all depends on the proportion. I stated right here, few posts before that some amount of speculation can be healthy. The problem is that a/ it's too much of it it seems (judging on prices jumping from 600 up to 750 and back down to 380 again etc within an hour). Way too much panic reactions. b/ exchanges don't seem to be technically ready for this kind of activities c/ often times those rushes seem to be tied to some sort hacker attacks on exchanges. As a result you've got a super volatile commodity
This is the way I see it - I can be wrong of course.

I think it's the other way around, more traders are needed to even out these wild swings. A professional trader doesn't just dump all his coins in one swoop like we saw this morning, this is rookie behavior or a malfunctioning bot.