Silk Road Seized

In a major black swan event, the FBI have seized Silk Road and arrested the owner. Predictably like lemmings everyone is selling bitcoins in a mad panic right now. Price has plummeted down to about $110 so far, and still falling. Very convenient timing for the US authorities I have to say. Almost makes one wonder if they’ve been sitting on it for a while, waiting for the opportune moment. Wish I’d kept back some money to buy more, going to be huge bargains soon. Sell mortimer sell. Buy buy buy

Heres how the carnage is looking at the time of posting.

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6 thoughts on “Silk Road Seized

  1. Haha, just yesterday we were talking about an upcoming break-out :-)! Well, here it is, just that nobody could see this coming… luckily, my stop-losses fired in time!

    1. yup its fair to say thats not the breakout I expected! Bit of a rebound happening just now though, back up to $127, would be nice if we climb back above that lower trendline, in any case will be interesting to see if the bullish slope is still intact when the dust settles.

      1. I made an automatic trading system in Java that runs on my own server… after I lost enough to events like these I thought I take matters in my own hands :-)! That program also collects pricing information for Coinstackr.com to display charts.

  2. The bitcoin forums have been down most the day i think. What do you reckon ddos to try and cause maximum disruption during market crash ?

    Thats a great project Coinstackr !!

    1. Looks like they’ve been hacked… how some things coincide…

      Thanks, I’ve launched Coinstackr just recently. Btw: I included the logarithmic option because I know how you love it :-)! Also check out the fullscreen display.

      You are of course invited to Beta-test Coinstackr, just apply on the site. If you like, your readers are welcome too. There’s some work to do on the service, so it’s not perfect yet 🙂

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