Quote from: Rannasha on February 11, 2014, 11:24:10 AM

Quote from: bitcoinlitcoinbtcltc on February 11, 2014, 11:18:09 AM

Quote from: Rannasha on February 11, 2014, 11:04:26 AM

Quote from: bitcoinlitcoinbtcltc on February 11, 2014, 10:55:57 AM

Quote from: boumalo on February 11, 2014, 10:22:13 AM

Quote from: miketonic on February 11, 2014, 07:35:59 AM

Very good theories from the OP. I find it very difficult to believe that someone was so stupid that just accidentally set a huge sell order without price limit..

It definitely happens from time to time, you would think someone having 5000coins will never make the mistake but the truth it can happen, it is less likely than someone making a 1BTC mistake but it can happen in a sell off

I don't think we will ever know for sure what happen but we cannot rule out the mistake, it is still the most probable explanation even if it seems weird

It was not mistake, someone with inside information sold all his coins, knowing that when the real crash starts, he wouldn't be able to sell it for even 50 (When FBI dumps 144k coins, bitcoin will go straight to 10 dollar).

And I and many others with me will be thrilled to buy at $10. Because the technology that is Bitcoin hasn't changed, the fundamentals haven't changed. There are still more companies accepting it and no technical flaws were discovered. Just one incompetent company showing the world they're incompetent while trying to shift the blame.

MtGox dying may cause a temporary dip in the price, but in the end we'll be better off. Just like when Silkroad closed down.

Don't fool yourself. The effects of the closing down of Silk Road are yet to come. Remember the 144,000 coins the FBI took? Not dumped yet.
So don't fool yourself, the closing down of Silk Road didn't have an effect... YET.

144K coins are a little bit more than 1% of the current amount of coins in circulation. If they get released, the total amount of available coins barely changes. Sure, if the FBI market-sells them on an exchange it would temporarily crash the price, but they're not that stupid. The coins will most likely be sold in one or more auctions where some large whale will be happy to scoop up 100% legal and accountable coins.

Dude, stop your bullshit with your ''amount of coins in circulation.''
You have to look at what is traded, the volume on exchanges. That's what counts in a market.
There are hundreds of trillions of USD in circulation, that doesn't mean crap on Wall Street. You're clearly too stupid to realize that.

All exchanges combined don't even have a 144,000 bitcoin volume (and some even fake their volume, especially Chinese exchanges).
If 144k coins get dumped, it will ruin bitcoin's price. And not just temporary.