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Title: Sustaining prices versus dirty pump Post by: DanielT on January 29, 2015, 01:40:17 PM Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger.
That, misses the point, as 3600 is a dump constant put against short-term speculation. Who wins? At $300/btc, traders must pour $1,080,000 every day, for sustaining the price. That is indeed a total amount (no one needs to pump $1,080,000 single-handed), thus not necessary the most ridiculous value there is. But the speculator excitement is now very low. Therefore in order to bring bitcoin to great heights (A.K.A the moon) at the current inflation level, the pump must be legendary. There simply isn't such a market. Thus I conclude that we won't see ATH prices so soon, as permabulls like to claim. Title: Re: Sustaining prices versus dirty pump Post by: lolled on January 29, 2015, 01:46:40 PM Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger. That, misses the point, as 3600 is a dump constant put against short-term speculation. Who wins? At $300/btc, traders must pour $1,080,000 every day, for sustaining the price. That is indeed a total amount (no one needs to pump $1,080,000 single-handed), thus not necessary the most ridiculous value there is. But the speculator excitement is now very low. Therefore in order to bring bitcoin to great heights (A.K.A the moon) at the current inflation level, the pump must be legendary. There simply isn't such a market. Thus I conclude that we won't see ATH prices so soon, as permabulls like to claim. I don't think all of the mined coins are dumped. Some people even hold on to them . Title: Re: Sustaining prices versus dirty pump Post by: dakota neat on January 29, 2015, 01:49:33 PM If Bitcoin can't handle 10% inflation a year, it's not worth it.
Title: Re: Sustaining prices versus dirty pump Post by: DanielT on January 29, 2015, 01:52:27 PM I don't think all of the mined coins are dumped. Some people even hold on to them . Miners have to pay electricity, and it is risky to hold btc in a bear market. The bull market could start in few weeks, but who can afford to wait? If Bitcoin can't handle 10% inflation a year, it's not worth it. I haven't heard a currency that can handle 10% inflation without some costs. Title: Re: Sustaining prices versus dirty pump Post by: lolled on January 29, 2015, 01:56:46 PM If Bitcoin can't handle 10% inflation a year, it's not worth it. Do you mean handle, or do you mean if it does not show 10% inflation ? Title: Re: Sustaining prices versus dirty pump Post by: CoinCidental on January 29, 2015, 01:57:26 PM I don't think all of the mined coins are dumped. Some people even hold on to them . Miners have to pay electricity, and it is risky to hold btc in a bear market. The bull market could start in few weeks, but who can afford to wait? strong hands can wait ,peasants will be pushed out you decide now which side you want to be on panic sell like a pussy or grow some balls and ride out the storm its up to you ...... Title: Re: Sustaining prices versus dirty pump Post by: dakota neat on January 29, 2015, 02:00:10 PM If Bitcoin can't handle 10% inflation a year, it's not worth it. I haven't heard a currency that can handle 10% inflation without some costs. It will be 5% next year. That's the inflation target of most western countries. Title: Re: Sustaining prices versus dirty pump Post by: DanielT on January 29, 2015, 02:03:12 PM It will be 5% next year. That's the inflation target of most western countries. That is next year, and 5% is still borderline high. Title: Re: Sustaining prices versus dirty pump Post by: Gio344 on January 29, 2015, 02:12:33 PM I doubt the full 3600, lets say 3000 get dumped , thats about 25btc an hour selling split up over a couple (5) exchanges im guessing
They may only dump to break even with electricity cost and keep the rest of btc profit Title: Re: Sustaining prices versus dirty pump Post by: dakota neat on January 29, 2015, 02:14:05 PM It will be 5% next year. That's the inflation target of most western countries. That is next year, and 5% is still borderline high. Everyone knows what to expect and those numbers are fixated. Now compare that to our central banks. Title: Re: Sustaining prices versus dirty pump Post by: thresher on January 29, 2015, 02:16:51 PM It is apparently obvious at this point bitcoin usage cannot sustain at the current level. The only reason it goes up at all at the moment is from people pumping, or trying to not miss the chance to get in.
When we dip below 200 again, maybe that was the support level and it dropped lower from panic, maybe it wasn't but, it should be clear that we are having trouble sustaining prices. Title: Re: Sustaining prices versus dirty pump Post by: DanielT on January 29, 2015, 02:30:53 PM Everyone knows what to expect and those numbers are fixated. Now compare that to our central banks. I'm not trying to imply central banks are better than Bitcoin, so I don't know where are you going with this. Title: Re: Sustaining prices versus dirty pump Post by: NotLambchop on January 29, 2015, 02:58:24 PM It will be 5% next year. That's the inflation target of most western countries. That is next year, and 5% is still borderline high. Everyone knows what to expect and those numbers are fixated. Now compare that to our central banks. Everyone knows & that's why the price is tanking. Bitcoin's yearly inflation is not 10%--that's Bitcoin's monetary base inflation. And even that's wrong, it was 12% in 2014. When regular folks say inflation, they mean price inflation, e.g. "a gallon of milk costs 3% more than it did a year ago. Bummer, 3% yearly inflation." For Bitcoin, price inflation was ~500% in 2014, with no signs of letup in 2015. Nice going. http://s24.postimg.org/t39ogrelh/congrats.gif Title: Re: Sustaining prices versus dirty pump Post by: dakota neat on January 29, 2015, 03:11:52 PM Sorry NLC, you keep continously saying 'This user is currently ignored' for me :D
Title: Re: Sustaining prices versus dirty pump Post by: DanielT on January 29, 2015, 03:20:45 PM Does NLC always put that ugly ass picture in his posts?? I'm may ignore him now.
Title: Re: Sustaining prices versus dirty pump Post by: solid12345 on January 29, 2015, 03:32:51 PM If miners would stop dumping Bitcoin for fiat then inflation wouldn't be a big deal. The problem is Bitcoin mining has become for the large part a tool to make more US dollars which does nothing to give value to the currency itself or show any confidence in the system. It doesn't help every whale is pumping and dumping on each other just to make more fiat money too. Just who in the hell does have faith in this system anymore except the lowly guys like us with a few Bitcoins and a few venture capitalists with spare gambling money?
Title: Re: Sustaining prices versus dirty pump Post by: kwukduck on January 29, 2015, 03:36:09 PM If miners would stop dumping Bitcoin for fiat then inflation wouldn't be a big deal. The problem is Bitcoin mining has become for the large part a tool to make more US dollars which does nothing to give value to the currency itself or show any confidence in the system. It doesn't help every whale is pumping and dumping on each other just to make more fiat money too. Just who in the hell does have faith in this system anymore except the lowly guys like us with a few Bitcoins and a few venture capitalists with spare gambling money? Well the concept is nice, as with so many things, it just gets ugly when people get involved and greedy and intolerant and hateful and well a lot more of that stuff... Title: Re: Sustaining prices versus dirty pump Post by: NotLambchop on January 29, 2015, 03:43:41 PM Sorry NLC, you keep continously saying 'This user is currently ignored' for me :D ^^^ This lolcow's first post, price was ~$600: Nice buying opportunity. I predict an uptrend starting next week, which will cut through magic 666 like butter and leveling out at 800 until middle of july. http://s28.postimg.org/ywhxzirn1/99268907_Smeyus_64786264_freaks.gif Title: Re: Sustaining prices versus dirty pump Post by: bclcjunkie on January 29, 2015, 03:58:30 PM also don't forget, out of 3600 dumped coins at least 70% will make back to the dumper(hidden orders, putting up own bids and etc).. manipulators aren't that stupid to just give you free lunch away... in fact they are getting better at it these days.. i'm impressed how they can take up positions on both sides and fake the entire futures market...
Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger. That, misses the point, as 3600 is a dump constant put against short-term speculation. Who wins? At $300/btc, traders must pour $1,080,000 every day, for sustaining the price. That is indeed a total amount (no one needs to pump $1,080,000 single-handed), thus not necessary the most ridiculous value there is. But the speculator excitement is now very low. Therefore in order to bring bitcoin to great heights (A.K.A the moon) at the current inflation level, the pump must be legendary. There simply isn't such a market. Thus I conclude that we won't see ATH prices so soon, as permabulls like to claim. Title: Re: Sustaining prices versus dirty pump Post by: chaoman on January 29, 2015, 07:29:21 PM I don't think all of the mined coins are dumped. Some people even hold on to them . Miners have to pay electricity, and it is risky to hold btc in a bear market. The bull market could start in few weeks, but who can afford to wait? If Bitcoin can't handle 10% inflation a year, it's not worth it. I haven't heard a currency that can handle 10% inflation without some costs. I pay my power bill in cash and keep my mined bitcoins. Title: Re: Sustaining prices versus dirty pump Post by: Pecunia non olet on January 29, 2015, 09:03:41 PM Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger. That, misses the point, as 3600 is a dump constant put against short-term speculation. Who wins? At $300/btc, traders must pour $1,080,000 every day, for sustaining the price. That is indeed a total amount (no one needs to pump $1,080,000 single-handed), thus not necessary the most ridiculous value there is. But the speculator excitement is now very low. Therefore in order to bring bitcoin to great heights (A.K.A the moon) at the current inflation level, the pump must be legendary. There simply isn't such a market. Thus I conclude that we won't see ATH prices so soon, as permabulls like to claim. This is correct and not even opinion but fact based on mathematics. I share this view. I think before halving sustainable price bottom will be in double digits. Random pumps should not go higher than 550$ in the most extreme case and such random pumps will drop as fast as they build up of course. Title: Re: Sustaining prices versus dirty pump Post by: homo homini lupus on January 29, 2015, 10:32:59 PM Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger. People saying that have no clue about trading. In the last 30 days 300 million LTC have been traded (10 times the current supply in coins) Number taken from https://bitcoinwisdom.com Tradevolume has pretty much NOTHING to do with supply and demand. |
