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Title: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: Spekulatius on September 24, 2012, 11:39:31 PM The title covers it pretty much. What do you expect out of this investigation (https://bitcointalk.org/index.php?topic=112438.0) and how do you think it will influence the price?
Some animations: - No effect: This investigation only concerns Pirate, no effect on price - Price goes UP: Finally some justice in sight, this will prove bitcoinland is not Wild West anymore - Price goes UP: This investigation could lead to an official recognition of Bitcoin as either currency or commodity - Price goes UP: This will generate some publicity for Bitcoin, bad publicity is better then no publicity - Price goes DOWN: This is bad news for bitcoin, people will loose trust - Price goes DOWN: Any involvement of the state into the Bitcoin project will be met with delusion by its supporters - Price goes DOWN: People will withdraw their funds from GLBSE as prices for stocks go down --> withdrawn BTC will be (at least partially) dumped into exchanges P.S.: I know the US SEC has no direct control over the UK based enterprise of the GLBSE (yes! its T H E Global Bitcoin Stock Exchange), but there are certainly strong connections between the two anglo saxon regulatory bodies. A SEC investigation could easily lead to consequences for UK based businesses and vice versa. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: proudhon on September 25, 2012, 01:59:05 AM Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses. Remember those single digits I've been talking about? They're coming.
Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: Vandroiy on September 26, 2012, 12:52:40 PM US authorities may be able to annoy Gox and Intersango from afar. That would be very annoying, IMO for the authorities as well, but I'm not so certain they understand that.
If they only go against BS&T, it's neutral/no news, maybe a little positive for people from the USA. But the chance of them attacking random businesses is a negative indicator. Many here neither know nor care about the gazillion arbitrary regulations in that country. Usually, regulation has more cost than benefit, that's why many of us are here. So it's a down indicator until it's clear the SEC intends to behave in a sane and productive manner. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: fm1234 on September 26, 2012, 02:04:16 PM Quote So it's a down indicator until it's clear the SEC intends to behave in a sane and productive manner. SELL! SELL! SELL! ;) Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: casascius on September 26, 2012, 02:08:41 PM Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses. Remember those single digits I've been talking about? They're coming. I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin. I know others who would too. So bring on the single digits for what they're worth. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: squid on September 26, 2012, 02:30:58 PM Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses. Remember those single digits I've been talking about? They're coming. I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin. I know others who would too. So bring on the single digits for what they're worth. +1 to this! Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: mobodick on September 26, 2012, 03:14:31 PM Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses. Remember those single digits I've been talking about? They're coming. I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin. I know others who would too. So bring on the single digits for what they're worth. I'd say you have a chance of seing single digits only untill around next january. After that the price should not drop below $10. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: blakdawg on September 26, 2012, 05:45:05 PM My hunch is, short-term, no effect, because people who are likely to be affected think they're protected by unicorns and fairies so as far as they're concerned they're invisible and bulletproof. So they're not going to do anything until their assets are frozen and their computers are seized, and then it'll be way too late.
Long-term, the value of BTC will rise, because criminals and the idiots they feed on will move on to the next opportunity, leaving nice rational people to enjoy the benefits of BTC. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: MaxSan on September 26, 2012, 07:55:11 PM Long-term, the value of BTC will rise, because criminals Fixed that for you. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: smoothie on September 26, 2012, 08:53:18 PM Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses. Remember those single digits I've been talking about? They're coming. I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin. I know others who would too. So bring on the single digits for what they're worth. Title: Re: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? Post by: salty on September 29, 2012, 09:02:06 AM I think it will inspire confidence, especially if the Bitcoin Foundation can get talking to journalists looking to report on the story.
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