What could possibly come out of it to bring the price down!?
From the conference I expect only good news.
The price may take a dip if there's no major news. Last year the price went down after the conference. |
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Supposedly Ben Bernanke is going to make some announcements today. The goldbugs are expecting a massive round of QE. There hasn't been as much hype about it in the bitcoin community but I believe this is part of the reason for the current rally. http://www.kitco.com/reports/KitcoNews20120913JW_am.htmlLets say we rest all other influences aside, what impact on the USD/BTC price by this round of QE do you think is possible? I have no idea.. I'm not an expert on that stuff. Since August gold has gone up from $1600 to $1730 say, while bitcoin has stayed nearly flat. There are only a handful of people here who seem to be watching the bitcoin/gold correlation. Personally, as bitcoin matures I expect that this correlation will start to look more like silver/gold, on top of the general uptrend of bitcoin. But again, I'm no expert! edit: bitcoin hasn't really been flat of course, but you know what I mean |
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Supposedly Ben Bernanke is going to make some announcements today. The goldbugs are expecting a massive round of QE. There hasn't been as much hype about it in the bitcoin community but I believe this is part of the reason for the current rally. http://www.kitco.com/reports/KitcoNews20120913JW_am.html |
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but i feel we might see some low 10's some time soon again and i dont want to miss it.  That didn't work out so well for you last time, did it?  |
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I believe that the community is still getting used to double-digit bitcoins, but it is here to stay.
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Screams manipulation to me. Especially in the last few seconds. Boy I would love to see somebody instantly buying up say 80k coins when a sell wall is erected. I thought it was fairly boring actually, what screams manipulation to you? The mass in the orderbook moves from side to side in a nearly instantaneous way. |
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To put things into perspective, compared with obama and romney, bitcoin line is flat.   hmm.. "obama" spiked with the bitcoin news |
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Is the bitcoincard team behind this?
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Screams manipulation to me. Especially in the last few seconds. Boy I would love to see somebody instantly buying up say 80k coins when a sell wall is erected. |
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I just wish they would deliver first and then start the media hype. We've seen way too many big announcements never coming true already.
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My take is that he was dampening the price with his ask walls while it was going up from $5-15. He's a big player so he can pretty much control the whole ask side and he can see how many remaining asks there are. He then timed his announcement perfectly before the weekend which ignited a big sell-off. He's just catching the knife now and buys back bitcoins at a huge discount. He can repeat this trick after he pays back the coins on monday, again catching all the dumps that people will make.
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Yes you can do better than that by having an offline transaction signing device. Preferably one that displays the bitcoin address and the transaction amount.
Perhaps the bitcoincard can be used as a signing device. |
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I heard about bitcoin through his post. Now he's bailing out. But I'm staying in!
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The Daaash for Digital Caaash!
:-) If that makes you smile, you should hear me say it.  I feel sorry for your wife ;-) |
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Sell high, buy higher  I'll buy higher only if, it'll go even higher! and it wont, so i wont I don't think we'll see a repeat of the January pattern if that's what you're hoping for. |
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I'm wondering whether we're going to see the inverse of what used to happen in the past, people buying after a major hack, instead of selling. After all, people who lost bitcoin due to hacks will probably want to have them back..
Yep... they totally sent money to the exchanges that quick  . The charts have been very bullish lately. I doubt this move is related to what happened at BTC-E. Sorry, my wording was wrong. I've edited my post. |
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I'm wondering whether we're going to see the inverse of what used to happen in the past, people buying after a major hack, instead of selling. After all, people who lost bitcoin due to hacks will probably want to have them back.. Perhaps traders are starting to exploit this kind of info.
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A fairly well-known cryptosystem that got broken that comes to my mind is the Merkle-Hellman knapsack cryptosystem: http://en.wikipedia.org/wiki/Merkle%E2%80%93Hellman_knapsack_cryptosystemIt was supposedly based on a "hard" problem, namely the knapsack packing problem, but it turned out that the sampling of random instances used for the knapsack crypto system does not yield an average-case hard problem (which is necessary for crypto). |
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I'd be more interested in speculating how many people have 100,000 or more bitcoins. That's almost a million USD.
edit: typo
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