You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?
You are right, I should have used the words false information with a pinch of FUD, instead of bear. I see you way too much on this forum for you to not know how many coins there are, and in whose possession. Perhaps you overlooking this will cause you to "get caught" in this bear trap? EDIT: Also, don't confuse lack of buying pressure with waiting for the right time to buy. If I were the one who pushed the price from 420 to 680 earlier, why not fill in 420 to 680 with more bids and wait for people like you to sell into it, everyone screaming "There is no buy support sell sell sell". Then when I have the coins I need, I stop manipulating. Manipulation is so easy with a market this small, but yet people still use T/A, which only one trend line has yet to break. The only reason a few people here can profit on trading is because there are so many traders thinking the same thing. Physiological analysis might be the best way to trade this market. You are technically right there is no buy support. But all the whales are waiting for this auction, and putting the buying on hold. Weak hands get scared and sell, so thats why we are slowly going down. /rant. |
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Where did they get the 500k coins?
There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M. Source? I thought it was 140,000 140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently. are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash? You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere. AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht. This is correct. TERA is just bear trolling like usual. I think the auction is by far the most significant price mover at the moment. It's not because 30k coins is going to increase the supply of coins or the fear that they will be dumped afterwards, but it's more the fact that the interested parties want to lower the price on the exchanges to get a better price on the auction. And because people expect these parties to do this it will almost create a self-fulfilling prophecy already.
Also correct. TERA is just bear trolling like usual. |
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What about the 144k btc? Are they allowed to sell it too?
No, only if they find Ross guilty and prove that all of those coins came from SR profits. I would love for them to sell these coins sometime soon, but it may be a while. After these 30K coins sell for a premium I can only imagine what the 144K would sell for. By then there will be a lot more buyers lining up to buy a chunk that big. |
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Nobody with enough money to buy a block of 3,000 coins is going to bid over the top of the current value on major exchanges. The bitcoin market has been so anemic for months now that all we're going to see are a few low ball offers, and whoever wins will take the lot for a very nice discount. Face it guys, we all want to see a rally, and it will likely happen eventually, but smart money isn't going to dive in on something that is so uncertain in the near term.
Yeah I don't see SecondMarket and others who have millions in coins already buying bitcoin, it so uncertain in the near term lmao! If every time I bought a diamond the price went up, then I hear of this really legit seller thats willing to sell me 30,000 diamonds at an auction without the price going up. But there are other buyers at the auction, there is no way in hell I am going to send in an offer lower than market price. I would be guaranteed to lose that auction. So what would I do, put in a bid for 10% over market for 3k of them, 8% on another 3k, and so on. If only one of the bidders goes over market price, then guess what? THEY WILL BE SOLD OVER MARKET PRICE. All it takes is one smart guy (in my eyes) or one stupid guy (in your eyes) to bid over market price. I'll bet everything I own the smart guy with a higher bid (over market) wins. |
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Watching all of the bidders who sold and lost, and all those who panicked with them, buy back soon should be fun.
Everyone should move up their asks to make them pay a premium for their mistake.
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Progress on the ACH protocol has ground to a halt! Abandon the US Dollar now!
+1 |
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If someone is willing to pay at a higher price than the price now, why not just slowly buy at the exchange.. or through the miners..
Miners already have contracts out. The biggest miners, that aren't pools, will be lucky to make 100 coins a day. So that would take over a year with the difficulty rising like it is. Buying slowly at the exchanges will be quicker, but the slippage is still horrible when people start front-running you. Meaning that the volume will pick up as you buy, the price will rise as you buy, and this will encourage other people to buy. So you will not get even close to dollar cost averaging about $750 per coin by the time you get 29K BTC. |
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The next few hours/days will show us which way the market is headed, but there must be a lot of leveraged longs on Bitfinex (providing that their data isn't just a big pile of fake shit) who must be feeling the strain of a flat/downtrending market combined with the usurious daily compound interest rates they are paying for their positions.
Given that Bitfinex has decided to insure the entirety of its lenders (going so far as to rather make traders pay by canceling their trades in extreme situations), shouldn't it be the case that interest rates ought to have decreased? It seems to me that that's one big risk factor gone for everybody. Maybe it was indeed? I haven't been watching. Edit: It just occured to me that this is easy to pin down. On their announcement page, the date is 16th March, and we can look at http://www.bfxdata.com/ to track interest rates over time. I don't see any discernible effect attributable to it since then. Interest rates have been falling since mid month. Also, you don't have to close your position to close your lend rate and receive a new rate. I have held the same position for about a month now, but when I see a lower rate I move to it, and now average around .06% which I consider dirt cheap to have a front row seat for when the price turns up. |
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There is not the slightest chance these coins will go under market value. There will be lowball offers by people who think they will get cheap coins for some of the same reasons a few posters have already stated in this thread. There will also be people who are smart that realize this is a large amount of coins without slippage in price and with a stamp of approval from the Government will bring a higher than market price tag. These will be the bidders who win the auction. I suspect SecondMarket will bid over market value for every coin for sale since they haven't bought much lately and can now catch up and buy more without slippage. If you do not see this, you are either new to bitcoin or very naive.
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When does the week close on BitcoinWisdom?
The Manipulator is going to have try harder than that to close the 1W MACD in the red.
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Why the fuck would you be shorting right now?
Who is to say a user of the site is not putting up walls to fake support and then remove them, move the price, and take your coins? Anyone can do that.
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The price is so inestable, itīs danger to play now.
Yup. Lots of obvious short stop losses just got squeezed on Bitfinex, probably on Huobi as well. Could be another classic Bitcoin Fuck You Rally. Wouldn't be surprised if it was as according to all the indicators, a break out should just not be happening. I can't speak for Huobi where the break out was initiated, but on Bitfinex, the lionshare of the buying power of the break out was squeezed short trades and even then Bitfinex conspired to rob everyone blind by front running all the Ask orders required to cover stop loss orders above $600, and then selling them to stop loss orders at $608. These people are fucking criminals and need locked up. You sure do whine a lot. Did you get burned at BFX and now think its all their fault? Looking at the bitfinex data very few shorts have actually been closed. Not sure how often it is updates though on http://www.bfxdata.com/bitfinexLiquidityBTC.phpI think it is someone just buying some coins while we are down here. |
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Isn't Google Wallet backed by your credit card? Credit card chargebacks are far easier than a double spend, so why would a company need guaranteed credit at point of sale? There is no such thing as guaranteed credit besides cash in hand. Therefore google wallet doesn't seem to be any better to me than bitcoin.
Anyways, by the time google wallet really catches on (its been out for a good while now) the bitcoin community will have solved the micropayment and quick confirmation problems.
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someone ban this idiot already, this is not funny!
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Reading all the posts from today was painful.
Can we add a CopyCat tag to users who obviously are copy cat trolls of other users, kind of like the scammer tags that are given out?
I used to feel really "undereducated" compared to some of the users in here, with their big words and fancy lingo, but the truth finally came out that some are just are plain dumb.
I have maybe 3 people on ignore, but I see I have some work to do now to get rid of all the noise in here.
PS. Thanks to all of you that post proper TA, charts, and useful information. (although this post contains none of that)
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And I use to think this guy was smart.
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I am a Southeastern Conference fan but I will be attending this game, because bitcoin!
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I think some of the whales are taking it easy until the end of the month. I think all the losers of the auction for the SR coins will be buying on and off market soon after, and get in the game before it is too late. At that time I think its safe to say they will start the rocket; no need to jump the gun and waste fuel in the meantime.
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I see the fake sell walls are back
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