coordinated effort to drop the price?
If anything, it was to push UP the price. |
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And it's back. Stop playing with my emotions!  Edit: Gone again! |
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lol these 0.1 BTC bids edit - $89 wall just lost 1k Yup, huge wall at Bitstamp gone too. Brace yourselves...  |
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a bid for 1890 @ 89.0 ....  Sure, seems legit.  |
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I think telemaco is asking if the ETF could artificially inflate the apparent number of bitcoins.
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Looks like the gap between MtGox and Bitstamp has pretty much been closed since today, only a $2 difference left now.
Im pissed. Dont be, some guy has been manipulating bitstamp up since yesterday. If Gox shows any signs of bearishness, it will fall hard. Ah, I'm not the only one seeing the moving wall. I was beginning to think there was something in my coffee. |
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Seriously, all you've been doing is talking this down, people like you are not exactly helping anything for the BTC cause, just posting about how smug you are about the price drop..
Yeah all I've done in 2 years is trying to talk the twitch.tv casters into Bitcoin, accepting it in all my businesses and freelancing, talking to everyone and anyone about it, invested in it, convinced some co-workers to tip their toes in it, tipped bitbills (now worth thousands) to my local restaurants... But you know, if I think that the price got carried away and we need to go down, I'm somehow bad for the "cause". What have YOU done? |
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And how do you get bitcoins once you have your ETF shares?
You don't. This is a product for people who want exposure to something that serves a gold-like (Gold 2.0, IMO) store of value purpose. Yes, it's only "exposure" because people owning these ETF shares will not actually possess the underlying bitcoins. So they'll get the price-action, but be subject to the same counter-party risk that nearly everything in the fiat economy is exposed to. Ok, that's what I thought. I was confused by those saying "but it's difficult to get BTCs, with this, it will be easy!" |
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I've been all out of BTC for weeks now, and I've been telling so. To Bitstamps $87? Oh lawdy... I better sell all my coins today!
Maybe you should.... maybe you should. |
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Sure, but there's different kind of down. Edit: FWIW, I've been a permabull since 2011. It's only since April that I've been saying "down". |
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Give them a little faith. The market obviously does too, otherwise we would be much, much lower.
No... MtGox price is higher than everywhere else because some believe it's better to lose an immediate 10% and transfer their BTC to another exchange than risking everything. If they announce the end of the USD hiatus, I expect the MtGox price to go down. |
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And how do you get bitcoins once you have your ETF shares?
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Yes and Yes. With a 100 years on earth; 1 week, 1 month, 1 year, 10 years are all very short amounts of time.
They are fools!!!! *maximum bear mode* |
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Am I the only one who thinks it's way too early for an ETF?
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Wow so they are selling ALL their coins for a maximum amount of Fiat dollars and some find that its good news..
Sure, they are bulls in denial; grasping every last straw of hope for a news that will make the price rebound. |
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This feels like a déjà vu.
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https://news.ycombinator.com/item?id=5973971I find these comments quite interesting: > Anyone know how to estimate whether there's enough liquidity in existing bitcoin exchages to support it, and allow them to track the price accurately in the ETF?
Yes. The daily volume in the ETF must be a small fraction of the daily volume in the underlying asset, and it must be possible to both buy & short the underlying.
So net net: An ETF is incredibly premature. This is the Winklevii taking serious advantage of folks who don't understand ETFs in depth.
It's clear that many folks don't understand how the price dynamics of ETFs with underlying securities operate.
A share in an ETF is a fixed basket of securities. If the price of the ETF differs from the basket, the ETF share creation/redemption mechanism drives the price back to the fair-market value of the basket.
If the price of the ETF share is too high: Market participants will short the ETF and buy the underlying. They will then take the underlying to the ETF admin, who will then create shares thus closing out the short.
If the price of the ETF share is too low: Market participants will buy the ETF and short the underlying. They will then take the shares to the ETF admin, who will then redeem the ETF share for the underlying, thus closing out the short.
Without the ability to short the underlying, there is no mechanism to maintain equilibrium in the share price of the ETF.
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What some of you guys need to understand is that your stance bullish/bearish can diverge on different timeframes. It's not "us" vs. "them", this isn't soccer or war.
If you don't care about neither the short nor the mid term trend (say, months ahead), then quite honestly you shouldn't even be reading the speculation forum because it will only serve to distract and distress you when the shorter term trend diverges. If it's not fun, what's the point?
I found it hard in 2011 to accept that the price of Bitcoin, the most important human invention since fire, could go down. "But, but, it's the future! How can it go down?!" I learned the hard way that the market doesn't care what you think, nor does it move in straight lines. This time, I fully embrace the bear in me.  |
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"Time since time began" Lol! I too find it much more meaningful than an arbitrary date based on a religion.  |
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Exactly. A mod on a bitcoin forum spreading fud is ridiculous. And not just any kind of fud but totally insane predictions trying to scare new people.
I hope his mod status will be taken away asap.
Au contraire, I find that a mod able to see other thing than "up Up UP" is far less dangerous. |
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