Depends on how many more coins the dumper is willing to dump. Right now, in the last hour or so, it's been close to 20,000. Now, if I was trying to manipulate the market to get more BTC, I'd probably dump some on Wednesday and Thursday, nothing major, just to get a downward momentum going. When miners and others who own hundreds of coins start selling them into the market out of fear or need, I'd wait till they're likely to have started their withdrawals from the exchanges, say Friday afternoon or so... then dump the whole motherload, drive the price down to almost nothing, and buy back without them being able to jumpstart me. But then, I don't try to manipulate the market...  |
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Love her if she's blowing, hate her if she's sucking? |
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but right now i think that's whats causing the price swings.I don't think the price will go over 12 dollars for a long time.right now you're making money and buying back the same coins so you don't lose anything
You lose the transaction fee if you just do that |
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Yooter InterActive can help SEO anything you guys come up with..... we're bitcoin friendly.
You'll do the SEO... who can do a good website? |
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I have to admit I have mixed feelings about this, yea it's dropping in price.. but deposits at flexcoin hit the roof.
generally there's an inverse relationship ... (not always but it appears to be that way more than 50% of the time)...
Heh, Founder, for every BTC sold, one BTC is bought! Thousands of bitcoins have been dumped into the market in the last few hours. Where did you think they'd be going? If anything, take it as a strong vote of confidence that those buying think Flexcoin is worthy of their trust. Assuming that the person buying isn't just the person selling them (you just need 2 mt.gox accounts) You are quite right. But even if that was the case, his or her whole idea in doing that would be to create downwards momentum, so there would be others (miners, hoarders, people who need to pay rent), who'll go into "panic sell" mode. At which point he can start buying, and when the time is right do the same thing in the opposite direction and then sell and drag down the price and then buy and then.... True, but he (or she) cannot really guarantee that when he dumps thousands of BTC, he'll be able to buy them all back. Some will get snagged by others. Also, he (or she) could get trumped on by someone with more USD at the ready in their account. If you jump in quickly enough, or just a fraction of a cent sooner, you can take all the BTC that the original manipulator wanted for himself (or herself). It's a bit of a gamble, especially as more traders with money start coming in. It's a gamble, but someone with the right tools could analyses the orderbook, look for the moment where there is a distribution that allows them to buy back all their own bitcoins plus a few others and drag the price down to the level they want. Anyone with 10,000 btc and $100,000 could do whatever they wanted. A 6000 btc buy can drag the price down 5%. My advice would be to assume manipulation and let the manipulator be your guide - ie buy low and sell high (most obvious statement of the year I know - but the market is distorted by big players). Agreed, at current BTC/USD prices, a trivially small amount of money would allow any trader to make thousands during a five minute break in his lunch hour  Things will start to change once the price of each BTC rises significantly... that should weed out the small time manipulators. |
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Grrr ...
+ Why is the price falling?
- Cause people are selling.
+ Why are people selling?
- Cause they think the bitcoin is worth less than it is traded at now.
+ Why don't they trust in bitcoin anymore?
- Cause they read the bad news.
+ What bad news?
If I wouldn't be in with more % of my personal belongings than I consider reasonable, I would buy now. What do the traders know what I don't know? I guess that's the OP's question.
What the traders know is that the momentum is going downward (conference fizzled, end of the month, end of the week, miners have to pay for their rigs, yadda yadda yadda). They also know exactly when they'll come in to buy again. |
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I have to admit I have mixed feelings about this, yea it's dropping in price.. but deposits at flexcoin hit the roof.
generally there's an inverse relationship ... (not always but it appears to be that way more than 50% of the time)...
Heh, Founder, for every BTC sold, one BTC is bought! Thousands of bitcoins have been dumped into the market in the last few hours. Where did you think they'd be going? If anything, take it as a strong vote of confidence that those buying think Flexcoin is worthy of their trust. Assuming that the person buying isn't just the person selling them (you just need 2 mt.gox accounts) You are quite right. But even if that was the case, his or her whole idea in doing that would be to create downwards momentum, so there would be others (miners, hoarders, people who need to pay rent), who'll go into "panic sell" mode. At which point he can start buying, and when the time is right do the same thing in the opposite direction and then sell and drag down the price and then buy and then.... True, but he (or she) cannot really guarantee that when he dumps thousands of BTC, he'll be able to buy them all back. Some will get snagged by others. Also, he (or she) could get trumped on by someone with more USD at the ready in their account. If you jump in quickly enough, or just a fraction of a cent sooner, you can take all the BTC that the original manipulator wanted for himself (or herself). It's a bit of a gamble, especially as more traders with money start coming in. |
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I have to admit I have mixed feelings about this, yea it's dropping in price.. but deposits at flexcoin hit the roof.
generally there's an inverse relationship ... (not always but it appears to be that way more than 50% of the time)...
Heh, Founder, for every BTC sold, one BTC is bought! Thousands of bitcoins have been dumped into the market in the last few hours. Where did you think they'd be going? If anything, take it as a strong vote of confidence that those buying think Flexcoin is worthy of their trust. Assuming that the person buying isn't just the person selling them (you just need 2 mt.gox accounts) You are quite right. But even if that was the case, his or her whole idea in doing that would be to create downwards momentum, so there would be others (miners, hoarders, people who need to pay rent), who'll go into "panic sell" mode. |
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Hey Edward, everything EVERYONE has said keeps happening.
BTC goes up, BTC goes down. Market gets manipulated. Merchants get new solutions. Market rises, market falls. You aren't really making any predictions that shine because of their uniqueness or usefulness.
You're just so much more noise.
well the timing of his post was spot on. sure it does not mention head and shoulders or my ass wave theory... but when all those bids went poof.. he make a prediction. and that is what this section of the forum is for. Yes, but it's just a matter of scale and perspective. Take it from just a few days before, or a few days after, and you can make the results fit pretty much any prediction. Edward's theory of a "hidden manipulator" is just hot air, and I suspect he knows it. There are several manipulators of the BTC market out there, and they're equally out in the open, we can see them when 7,000 BTC all get sold at the same time... or when 10,000 BTC all get bought at the same time. Nothing hidden at all. The real mystery is why someone so clearly convinced of Bitcoin's ultimate doom is spending his (or her) time on these forums, posting relentlessly, though conveniently disappearing when the value of BTC rises against the dollar. I don't believe in the ultimate truth of Hinduism, but I have never, ever, even remotely considered joining a Hindu forum  |
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I have to admit I have mixed feelings about this, yea it's dropping in price.. but deposits at flexcoin hit the roof.
generally there's an inverse relationship ... (not always but it appears to be that way more than 50% of the time)...
Heh, Founder, for every BTC sold, one BTC is bought! Thousands of bitcoins have been dumped into the market in the last few hours. Where did you think they'd be going? If anything, take it as a strong vote of confidence that those buying think Flexcoin is worthy of their trust. |
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Hey Edward, everything EVERYONE has said keeps happening.
BTC goes up, BTC goes down. Market gets manipulated. Merchants get new solutions. Market rises, market falls. You aren't really making any predictions that shine because of their uniqueness or usefulness.
You're just so much more noise.
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It's easy to see that there are two viewpoints... clearly defined... Those who attended. and.... Those who did not attend. It was two completely different experiences. If you did not attend, I'm sure it was about as lame as it gets. If you did attend, as many will attest to, and have told me, "It was the most exciting conference I have ever attended." ....is the typical comment I hear. Two people looking in opposite directions... who think they are describing the same thing. Anyway... I think it will always be a completely different experience for those who do not attend, unfortunately. After all, if it were the same.... There would be no benefit in getting together in person at all.... Right? We will do better when it comes to streaming. As it was happening even.... I was very upset that that was not happening right. But, we did the best we could with the limited resources and help we had. Please don't ever expect one of these conferences to be the same experience from home on tv.... as it would be attending one. Also, I did not create the conferences for the media. I created them for the developer and user community. And, in that context, it was an enormous success... as 100% of the people here who attended are attesting to. As I said, we don't really need any more media attention at this very moment. Those of you who think media = profit are so wrong. We don't need media attention. We need positive media attention. And we will get plenty of that... Once the developers finish all the projects they are working on right now. The Conference was a tremendous success in aiding those developers... by allowing them to meet, connect, and begin working closely with others... they can now work synergistically with each other more.... More.... Better... Faster. As for the two big announcements I had.... I suppose I should have said what happened. One of them got tabled. I decided, after getting more and more feedback on the idea... that I should postpone announcing it. It's just too big.... and too risky... for the moment. But that idea might come back. We'll see. The other --- second --- big announcement was... three more Conferences.... and a World Cruise. Personally, I think that IS HUGE. Don't you? ( Please only answer if you attended this Conference.... so you have some real world frame of reference. ) Since then, I have already said that I am now working on adding 10 other cities to that list.... 12 Cities Worldwide in Total. Yes, this is going to be enormous. But I don't need to tell you. I'll show you. You'll see. I love a challenge.  As for The Bitcoin Show... I wasn't going to say anything... But... I'll have a little surprise for you.... within the next 2 days... Stay tuned. No no... I have a third viewpoint. I'm sure the conference was really good for those who attended, and its effects will also be really good for those who didn't. I do feel the lack of media coverage was a minus, which is why I'm hoping for some serious PR effort to get going to help bring Bitcoin to the media in a more concerted way. My only beef with the conference was the lack of contact with the outside world during it. Think of the opportunities missed just by not having two way communication between those in attendance and those of us (hundreds, probably thousands) who were desperately trying, but were unable to watch and interact with the conference. We might have asked questions of the speakers that sparked an entirely new line of thinking. We could have offered ideas, expertise. One of us might have taken that video feed and rolled it into an article for a blog, or for a media outlet. So, a successful conference, with lots to learn for the future. Third viewpoint. |
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I have to admit I am spending to much time on bitcoins. I could be doing many other things ,but I am basically just watching bitcoins. It doesn't help that it's super hot and I do exercising in the mornings.
GET TO WORK! IF YOU NEED IDEAS FOR PROJECTS PM ME. I HAVE ABOUT 30 READY TO GO. Only 30? I know guy on this board who has over that. Please! No guessing! Hint: It's not me. (although I have a dozen) Shrug your shoulders, if you give up.  Bitcoin: An Idea Worth SpendingWell most of my ideas are pretty realistic . I will share one I have and if anyone likes it jump in this with me! I own the domain name BITTICKETS.COM What is BITTICKETS.COM? BitTickets can easily be a ticket vendor for movies/concerts/live shows/ and events that takes Bitcoin as a payment option. That is just one of the many Ideas I have. Some will be failures, but I expect the majority of them to be very successful. However, only time will tell! Hey! Just had a thought. Let's fork the chain and start ProjectCoin!!! You have 30, someone else has another 30... let's open and exchange and start trading virtual projects!!! |
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If you been there please don't click on the link (they love the attention.) I have already applied to be moderator here, and I swear to god I will handle it if I get the chance. About 200+ people would be banned overnight, but I swear to god I would clean this place up...
Hell yeah! After all, what good does free speech do anyway! It just makes people say stuff you don't want to hear. Go get em! There is a difference between free speech and disruptive speech sir. One leads to change, the other leads to a jail cell. EDIT: Or even worse, a mental institution. Which is where 90% of the SA members belong. Oh, oh... Would you care to expound a little bit on the kind of speech that would land you in a jail cell? Tread carefully, my friend. There is only such a thing as free speech, everything else is an attempt at curtailing it. Google "yell fire in a crowded theatre (or theater)" and see where that awful quote originally came from. You'll be shocked to learn it was used by a judge to throw in jail a bunch of Jewish pacifists who were against the US getting drawn into World War I. They were handing out pamphlets in Yiddish throughout New York, to stop the country from entering a ridiculous was between old monarchies and colonial powers in Europe. It was a despicable decision made by that judge, yet the phrase (like the equally ugly "I cannot define pornography but I sure know it when I see it") have become part of the conventional wisdom of the United States and, more depressingly, of its legislative and judicial wisdom as well. If you ever do become a mod, and that's a big IF in view of your stated desire to ban around 200 folks, remember free speech is only important for those who disagree with us. Free speech only for those we agree with is a bit silly. Cheers, |
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We need a TED talk.
It would be amazing PR directed at the perfect demographic. Best of all: it would be free.
Anyone have any idea how to make this happen?
A TED talk would be fantastic... a TED talk by Bruce would be a nightmare. No offence, Bruce, I love you and what you're trying to do for Bitcoin, but we need less of an evangelist and more of a charmer. Actually, I'm thinking Rick Falvinge would be ideal for TED. |
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No apology necessary. In fact, I was chuckling the whole way with the 53 spelling errors.
The more I look at this, though, the morenit makes sense to start some form of PR for Bitcoin. In don't know the first thing about web design (I imagine a cool website would be a first step towards getting a PR campaign started).
I'll send a message to Weaver and see what those guys are up to, but it can't be stressed enough that this has to ooze professionalism.
Cheers,
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I can foresee, beyond 2020, another cryptocurrency, not-deflationary, and backed by Bitcoin. But for now, Bitcoin has a real prime-mover advantage over anything else, not to mention being the most elegant one of the lot.
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You can use any fee you want, but it's hard to foresee an online wallet solution that does not include cold storage in some form in the near future. I have a feeling, ultimately, the cold storage will just have to be part of the service you provide, without additional cost.
this is the only user definable cold storage solution on the market... Of course, and I and others applaud you for it. All I'm saying is that cold storage, or some similar solution to make our BTC secure, will necessarily become part of any online wallet out there. I can guarantee the others are looking into this as we speak. Once they have a system in place, some will start offering it free of charge to lure us to them. For now, you can start with any fee you feel is reasonable, and since cold storage is an option, the customers will either choose it or not if they feel the fee is too high. |
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You can use any fee you want, but it's hard to foresee an online wallet solution that does not include cold storage in some form in the near future. I have a feeling, ultimately, the cold storage will just have to be part of the service you provide, without additional cost.
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Bitcoin is new. Bitcoin is ground-breaking. Bitcoin is global.
We can make our own new rules. ....and we have a whole planet to cater to.
You can make your own rules in your own events under your own brand. You can call it OnlyOneTv Conference if you like or TheBitcoinShow Expo. But please don't brand it as a Bitcoin official event. Bitcoin is a currency and what it wants is business, not holidays. +1 Bitcoin in order to become more successful needs to get the business community interested and average ordinary people. Ordinary people need to be welcomed and embraced and shown how Bitcoin can help them in their daily lives in these uncertain economic times. We shouldn't turn them off... piss them off... offend them... etc. etc. What we don't need is a clique of elites globe-hopping from one party to another portraying themselves as the official Bitcoin spokesmen... Gawd, do we ever need some sensible and professional PR types to step up... Agreed. Check out my other thread https://bitcointalk.org/index.php?topic=39030.0 |
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