Not to feed Torque's conspiracy theories but it does seem rather odd that the trustee would dump on exchanges and not do a deal OTC considering the numbers involved.
I am sure he would have got a better deal for his BTC rather than crashing the market like this?
Almost seems like a deliberate attempt to dampen the market yet again. /tinfoil hat/
Why wouldn't you want to feed my conspiracy theories? Lol  No but seriously, are people really buying that this trustee was able to time the top of the market perfectly at $20k, and sell that much bitcoin on exchange risking mega slippage instead of just doing a public OTC auction/private sale? Orly? There are many wealthy individual and institutional investors that would probably jump at the chance to purchase that much bitcoin off-exchange. Keep in mind that the media can make up whatever FUD bullshit they want and put it out there, and the public has no choice but to accept it at face value... |
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For any new hodlers, the dumping/shorting is designed to make you constantly feel like this:  Don't get frustrated. Hodl on! BTFD! |
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can someone lend me $1000000 ? I promise to pay you back double in 6 months
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Sure there is more selling to come from the trustee but those coins were always going to enter the market again at some point.
And the best part - the Mt. Gox account holders are likely to buy back their bitcoin with their money! I know I would. |
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Plummeting
Now not plummeting |
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Cool.
This kinda feels like a big short entry/shake the tree kind of thing to me. Wonder if something big is coming?
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did you read the link Torque?
Yes "Whether or not this constituted a patent infringement remained a point of contention, but the issue was, to large extent, rendered moot as the Segregated Witness upgrade activated on the Bitcoin protocol in August 2017. This soft fork limited the potential upside of using the covert application of AsicBoost, and it is clear that no one ever used the overt version of AsicBoost on Bitcoin’s mainnet."ASICboost in the defensive license could force all other mining patent holders into the agreement
Only if they so choose to join the BDPL, correct? So Bitmain would have to remove ASICboost to steer clear of the BDPL, or be forced to share any other patents they have? |
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That IS news. Depending on how that plays out I might even entertain the notion of rolling back segwit.  |
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It’s good to know where all the selling came from though (if true). If that was true, then we should all rejoice. That much bitcoin waiting to be liquidated was always going to remain a Sword of Damocles over the market until it happened. Now that it's behind us, blue skies! |
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It is a huge deal IMO. This may finally deliver what we hoped the ETF attempts of previous years would bring. Nice! I don’t like or use Coinbase but if it brings in lots of new investors to bitcoin then it’s a really good thing.
On net, this is good for bitcoin in that it helps draw in more investors. But it does unfortunately push a belief or narrative that I disagree with, and I believe it will ultimately be harmful if this narrative is kept alive for too long. In the end, people will be driven by their own greed and price signals towards bitcoin and away from the others. The cream will rise to the top eventually.
For the meantime, it will be: Play stupid games, win stupid prizes.
On the down side, it is pushing what I believe to be an incorrect narrative. This idea that “we should diversify across crypto assets” strikes me as a category error. It is treating Ethereum, Bitcoin Cash (BCash), and Litecoin like they are a good way to diversify instead of holding one sound money, Bitcoin.
What happens in practice is:
They’re not really that uncorrelated to each other.
All altcoins live in the wake of Bitcoin and basically ride its coat tails.
There is an opportunity cost to holding more ETH, BCH and LTC: You could have otherwise held more BTC.I especially agree with this point. To me it's like have a portfolio of stocks where I have Facebook stock, as well as 3 other Facebook clones (Google+ anyone?) that were 5-10 years late to the game, that suck and will go nowhere. When I could have just had it all in Facebook. |
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Just Trump. |
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Now there is a different situation and we are in the center of the work whiners do not know what they are doing so when we say that the upcoming bitcoin is going to rise the opposite can be something that we will not be waiting for when we say we need to get used to.
Truly I've never seen someone destroy grammar in a run on sentence so well  |
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You mean the Casascius coins? Lots of those still out there unswept, they are legit.
They're legit and always will be. There are few others that sure as shit are not and were emptied. I've always found it really weird the hall pass people gave physical coin creators when it came to the handling of private keys. They're just another anon prick. Just because they're gluing a private key to a lump of metal does not mean it magically spirits away their dodgy as fuck tendencies. To own a Casascius Bitcoin, you have to have full faith and trust in the word and past process of one person - Mike Caldwell. I own one, and I fully understand that it's value is entirely contingent on having trusted Mike Caldwell's past process. The fact that he no longer sells them is a bonus. I would never trust anyone else's physical bitcoin or any other physical hologram coin for that matter. Like ever. |
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Not without massive buy volume coming in.
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Holy fuck. We may have just solved the last mile problem in crypto. This looks serious and legit. https://www.trueusd.comLong awaited alternate of Tethers. But we still seriously need more alternates of USD/EURO/etc. I already have a stable digital currency that is accepted pretty much anywhere in the world that matters to me. It's called the USD in my bank account. And the greatest part is, it's purpose-built for spending not hodling! |
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