warning: mintpal is ridiculously manipulated. watching these orders is making me laugh.  What, because its going down -> manipulation? I dont mind my UTC value dropping because I love that the people who bought the premine are down even worse than me. Its an awesome thought. |
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now one person with no moral values could destroy the economy at any moment.
I don't have morals applying to the harm of animals, but when people hurt plants I tell them to stop. what. |
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If Gox tells us truth, it means that there were up to 1.75M of phantom non existing bitcoins circulating in active trade during recent years.
Now they are vanished and we only have real existing bitcoins on exchanges (I hope).
Guess what would happen to the price soon?
Max phantom coins 750k But yes, its possible. However I doubt its anywhere near significant. |
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I have bought (and sold) bitcoin hundreds of times. Which time are you referring to?
on average It's still a difficult question because I'm not holding an 'average' of different buys - I am daytrading. I guess I could say that my cost basis based on my original investment is now $2. My first purchase was at $100. I know, I know... I'm asking a question based on some simplifying assumptions. But keep in mind many in here are (mostly) buy&holders, and I wanted to address both traders and holders. The question I asked was therefore: take the coins you *currently* hold, and the money you paid for them, i.e. total money sent to exchanges minus money currently sitting (as USD) on the exchange. Very good lol Total money sent to exchange - fiat on exchange (or withdrawn) / bitcoins owned -> Average entry point. How simple. Mine is a little more difficult since I had no direct investment. My initial buy-in was in the form of mining costs. I sold those coins on the way down from $32. Bought back at $2.15 and stored what I sold in the 2011 Bear market and kept the rest to trade with. F=S*price V=s*cur_price (F+V)/s Where F=current fiat, S=Coins sold out of the original holding, V=value of stored coins (s), price=best price (S) was sold at I get a buy-in price of $0.002 per coin currently held not counting any other profits from trading. That is the most accurate number I could come up with in just a few minutes of calculations  Awesome. I thought my $5 entry was nice... But damn do I ever hate that I sold them so cheap |
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I have bought (and sold) bitcoin hundreds of times. Which time are you referring to?
on average It's still a difficult question because I'm not holding an 'average' of different buys - I am daytrading. I guess I could say that my cost basis based on my original investment is now $2. My first purchase was at $100. I know, I know... I'm asking a question based on some simplifying assumptions. But keep in mind many in here are (mostly) buy&holders, and I wanted to address both traders and holders. The question I asked was therefore: take the coins you *currently* hold, and the money you paid for them, i.e. total money sent to exchanges minus money currently sitting (as USD) on the exchange. Very good lol Total money sent to exchange - fiat on exchange (or withdrawn) / bitcoins owned -> Average entry point. How simple. |
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Waiting for FOX to report that it was 17.5 million  And that they just printed more to cover their losses. I can see it. "Well why dont they just.. like, mine another 500k and give it to the exchange???" |
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I have bought (and sold) bitcoin hundreds of times. Which time are you referring to?
on average It's still a difficult question because I'm not holding an 'average' of different buys - I am daytrading. I guess I could say that my cost basis based on my original investment is now $2. My first purchase was at $100. Yeah its too complex if you try to account for daytrading properly. I would just consider all original purchases. Like if you bought 100 at 10 and another 10 at 100, then you would just consider it as $18. Any daytrading gains could be considered by just dividing by your original investment + gain. So if you gained 10% via trading then you could say $16... but it is just as good if you ignore it entirely. |
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$5 However I sold 75% at $120 And lost abt 50% of my remaining holdings in Gox |
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WTF just happened, 957 coins @535 in seconds sold  Someone sold a thousand coins, have you never seen that before? lol |
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Nothing new here other than someone passing off speculation as fact.. |
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You do realize that if he cashes out, the coins get less expensive right? People will be able to buy them for pennies on the dollar.
If he cashes out, then he will have a shitton of fiat. This will give him away if he ever tries to trade this sum into fiat because the banks don't have that amount of cash lying around.
When his taxes come and the banks report his income, he's sure to get audited.
Especially when bitcoin crashes in a fireworks explosion.
If he cashes out slowly, it will be too slow to worry about anything dramatic happening with the price. He could have the unique ability to keep the price stable for months, attracting more buyers.
Oh please, these is NO good side to this. Just slightly less awful. Slightly. |
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Am i really the only one who is concerned that Bitcoin hasn't responded to ANY good news in MONTHS?
People dump every single time there is some bad news. Often it isn't even bad news but more like "i'm gonna panic sell in case it us bad news". We go lower and lower. Now we're at 570. There will be good news. Nobody will give a shit. They're all waiting for the next bad news so we can go lower again.
We would need to most amazing super positive news ever to stop this and i don't see this coming.
So give me one reason why we could go up again. I can't find any. I really can't.
Edit: how much longer will we be going down because of Gox. They are gone. Will it take us down for months to come? Can't people just get over it?
Maybe someone has been quietly liquidating 750k coins I would expect him to sell no more than a couple thousand every few months. Its plenty of money to enjoy. |
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3k in bids added.
2k 533
1k 532
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BLinked and missed it...
552 wall: eaten or pulled?
eaten  "eaten." "devoured" is probably more accurate. "Cannibalized" is even more accurate. Its the same person from before. They are building imaginary walls, then buying them up and setting lower ones. All in hopes of causing a panic and getting cheap coins! Wonder who!? Proof? All I see is that one volume spike. Nothing suspicious at all. |
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I am sure the 10k whale ain't buying back, but decided to cash out exactly 10,000 btc last time, which suggest he has more btc in reserve
Now i can only guess that he turned bear and fearful with Gox demise..
The sell wall originally was 10kbtc, although I believe he actually marked sodled about 5700 btc (you check bitcoin wisdom on 15m time interval) He might have been selling small amounts upfront or afterwards... don't know Yes, 10k wall. Partially sold in a limit order (~900) when he reduced the price a few dollars. After a couple hours of people nibbling on it about 5k market sodl. |
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Not billions, hundreds of millions.
Everything Mark has said would say no to that theory, but I agree it seems most plausible and is really unfortunate.
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40255.11395200 UCT @ 0.00023900 SELL ORDER ON MINTPAL
Those 40000 are mine. 4 fruitless days of mining... I've decided to leave UTC. Had very big expectations for it, but nothing was right. Pools that are down and in permanent 110% unluck, exchanges that are hacked, price dropping despite good volume and buy support... Sorry guys, but this is how it is. Some were talking about this coin being cursed and I start to believe that. I don't want to depress anyone, but that's my current situation. I have over 200 rigs to look for, and there are more problems with it than most of you think there is. So, good luck to everyone. Maybe, I'll regret my decision, so go ahead and make this coin finally rise after I leave. All you've done is put a motivational sell wall up that all miners who are desperate will undercut as they've done every other 700+ sell order on there. You'll be lucky to sell 1000 of them if you keep them all on there at the same time. Pretty sure hes a BSer. Hed have to have the mining power of nearly 200 R9 290X for that. |
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i think chinese buying pressure is too much to reliably short. i will watch closely. i doubt more than -10% change within an hour unless news hits.
I like how you edited it from -5% to -10% lol. |
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Nice. I hope we see that trend continue; maybe the media coverage will bring in some investments. Just not on the exchanges.
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The upwards breakout and downwards breakout have failed.. it seems
Can someone show the pennant, as it is now? It must have just exited without breaking in either direction?
 Thanks! |
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