guess its mostly manipulation what we see right now?!
You get the prize. The whale held the price down, the whale removed his fake walls and then the whale bots simply kicked in and auto-bought. Hoping to spark an uptrend. Now the same whales bots are selling back down due to lack of buying pressure (ie., REAL market buyers). I'm convinced now that for the time being, this market is still in a lull. I'm not seeing any real buyers back in this market yet, just whale bots buying/selling to themselves. The lack of volume and real demand is telling. |
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The changes to the deposit methods were announced on their homepages, as they happened over the past four months. I posted at least a dozen links to the notices in Chinese with Google Translations, others posted human translations, as well as Chinese media articles. Obviously they could not explain 4 months ago the changes that they were forced to make 2 months ago.
I'm not talking about announcing changes to the deposit methods. I'm talking about the fact that the Chinese exchange operators could have gotten together 4-5 months ago, had a meeting, and then published an official joint statement saying something to the effect of, "China has not banned bitcoin, and will never ban bitcoin. Whatever you read, whatever you hear, it is not banned and will never be banned. Do not believe any supposed China news FUD that you read that claims otherwise. Also do not believe any Chinese FUD related to our eventual exchanges demise. Our Chinese exchanges are not only legal, but we will never shut down. We will continue to work around the deposit issues with the PBOC. Do not believe the FUD! Also, OKCoin's volume is skewed based on 0% fees and HFT only, but it's not fake per se. But yes, it is a little misleading for sure." They could have offically published this in English for the Westerners, and on official sites like Coindesk. But they didn't do that, now did they? No official joint statement at all to help reassure the public and quell fears. Hell, the individual Chinese exchange operators barely even spoke (except for Bobby Lee) during that time. Their PR was just as bad, if not worse, than Mark Karpeles. It was as if they WANTED the continued ambiguity to fuel the ongoing FUD panic selling. And that's exactly what it did. In contrast, only months after Huobi had become the largest exchange by volume in the world did CoinDesk get up from their desk and arrange an interview their CEO. (And in that article they stated that China had 60% of the trade volume in the world, when in fact it had closer to 90%.) It took them a couple more months before they bothered to interview the CEO of OKCoin. Yet they don't spare screen space when they are interviewing "bitcoin entrepreneurs" who have only rosy promises to show. Have you ever seen them express any doubts about the soundness of a bitcoin venture, or the credibility of its proponents?
I do agree with you on this point. Very much so. |
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What's even worse is this: The exchange operators/reps of OKCoin, Huobi, and BTCC couldn't have gotten together like 4-5 months ago and presented an official, detailed joint explanation of this VERY SAME INFORMATION, HELPING TO COMBAT ALL THE FUD AND NEGATIVITY? WTF, REALLY? We needed to wait 4-5 fkn months after all the bullshit to die down for this to be officially said and presented to the community?
They did. Blame the bitcoin media (and those who believe them) for pretending that China did not exist. Point me to the official statement link please, or stop making stuff up. |
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So 6 months of fear, panic, fud, crashes and more fear over nothing. Who would've guessed. And the worst part is when there turns out to be no China problem at all nobody gives a fuck. They simply move on to the next piece of fud. What's even worse is this: The exchange operators/reps of OKCoin, Huobi, and BTCC couldn't have gotten together like 4-5 months ago and presented an official, detailed joint explanation of this VERY SAME INFORMATION, HELPING TO COMBAT ALL THE FUD AND NEGATIVITY? WTF, REALLY? We needed to wait 4-5 fkn months after all the bullshit to die down for this to be officially said and presented to the community? Oh wait, but if that had happened there wouldn't have been any opportunity for China FUD, ambiguity, and chaos during all those months, and people wouldn't have panic sold, and their rich friends wouldn't have been able to use insider info to get richer, and... |
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So the moment we went over 600 something triggered a mass sell off in China. We instantly go back under 600 and someone puts up a wall to make sure stay there.
Always nice to know there is 1 person or 1 group of people who control the whole market and stop us from going up.
Interesting that China sold on the USD price... And yeah there are always going to be people trying to manipulate. The fact that we potentially have manipulators in China is actually a good thing as it makes it far less likely for the whales to all collude together. A good thing? It never occurred to you that one whale, the same whale, can have multiple accounts on multiple exchanges (even those in China), allowing him to play multiple sides of the market simultaneously and do arbitrage? And effectively being able to play whack-a-mole on multiple exchanges at the same time? But I'm sure all of this bogus manipulation is somehow a "good thing".  |
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Looks like the auction is a success since the price rally pass 600.
yeah it was success, but we don't auction results yet tomorrow we will see the result and hope make bitcoin price climb up to respond it  not otherwise  Sources say $789/coin! |
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This just in, SR auction coins sold for an average of $789 each!! BUY, BUY, BUY!!
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Good question. Is bitcoin money? If so, is money an investment? Is my lump of fiat in the bank an investment?
Gold can be seen as a speculative investment (if the desire is for it to go up in value), but what if it doesn't go up in value? Is it still a speculative investment? Or is it just a store of value?
What if I just view my bitcoin as a store of value? Then is it no longer seen as an investment, or a speculation?
Where do zebras get their stripes?
What is the sound of one hand clapping?
If a tree falls in the woods...?
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It's pretty much a guarantee that Silbert will release details, and that's probably gonna be for a sizable chunk.
 there won't be news monday either...they will notify the winning bidders and only the winning bidders. only way actual news will come out is if the winning bidder decides to release a press statement. read the article mocrotasje you fucking hillbilly foreigner. yes they are sold. no they're not going to tell you who got em or for what. we've all known this for a week.
Define we. Because you and the other dozen or so of us smart people apparently knew this all along. But the 1000s of other clueless idiot bitcoiners decided to have a fkn mass sell off last week because they seem to think otherwise. They also cannot seem to read the damn FAQ at the U.S. Marshall auction website that says just what you described above. Doesn't matter, as now the auction is so yesterday and the community has already moved on because it has the attention span of a gnat. Onward to the next insignificant FUD date, yay! |
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We are right back to a completely manipulated $599.99 wall holding pattern, just like where we were from June 20-23. This whole rise smells of pure whale crud.
If we don't solidly break $600 within the next 12 hours, I predict we are definitely going back down.
Quoting myself.  |
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We are right back to a completely manipulated $599.99 wall holding pattern, just like where we were from June 20-23. This whole rise smells of pure whale crud.
If we don't solidly break $600 within the next 12 hours, I predict we are definitely going back down.
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That article was the most ill informed FUD hit piece I've ever seen, timed perfectly the day of the auction so as try to sway the market downward. Some forex guy that works for Citi weighed in on this whole thing with his brilliant uber insight? Wow, just wow. Shame on you Coindesk for publishing such a piece of crap article. |
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Wow, went away for a few hours and come back to find this thread has turned into a glorified BTC-e trollbox.
Well fellas, I amn't participating in this stupid debacle of a thread about the SR auction any longer. I'm done. If you guys want to believe any FUD about the auction that supposedly comes out, go right ahead. It won't be true, but whatever.
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You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!? And they are trying to get even more btc?? Gasp! I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing! In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!! They could make so much money!! Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit? Why would anyone even hold them long term? I'm completely baffled!! /S The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke. Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it. Most of the people that fail to see the big picture fall into this category. And now you know exactly why 95% of bitcoiners who were involved with bitcoin 2-3 years ago, even one year ago, are still no richer or better off than they are today. Because they had a chance to buy tons of bitcoins for pennies or even dollars, and just sit on them for a few years. But they didn't, as soon as the price jumped 25%, 50%, or even doubled, they cashed out immediately. Or day traded and pissed all the money away. So stupid, many of them could be extremely wealthy today, had they just purchased a few thousand bitcoins and just held them. The same thing is going to repeat itself from this point forward as well. The majority of bitcoins will eventually find their way from the hands of the stupid and poor to the rich and wealthy, simply because the stupid and poor don't know how to invest properly and just want to buy some stupid toy with their "winnings". |
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would it not be in buyers interest to say they paid more so come tax time they pay less tax? Wouldn't that be reason enough to let it slip out that you paid above market price even if you didn't?
You don't pay taxes on coins you haven't sold. but they will sell eventually and then they will have to put down a price for what they bought at right? Yeah sure, when they sell a few in 2018. Or maybe never. |
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Circle is by far one of the most accredited buyers for these coins and I've read that they are actively trying to get the whole 29.9K BTC.
I'm not totally sure but I believe they own over 50K btc as it is already, maybe more. It only makes sense for them to bid high as an auction like this will be a price setter.
The higher they pay for the 30K coins the more money they make on their 50K stack.
I believe these guys are going to overbid in order to lock down all the coins. I think we'll see bids around 3M for a 3K lot.
Just my 2 cents.
I'm with you, Bobsurplus. Below market is just not going to happen. Simple as that. Yeah, I'm not sure why people cant wrap their head around something so simple as this. You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!? And they are trying to get even more btc?? Gasp! I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing! In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!! They could make so much money!! Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit? Why would anyone even hold them long term? I'm completely baffled!! /S |
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would it not be in buyers interest to say they paid more so come tax time they pay less tax? Wouldn't that be reason enough to let it slip out that you paid above market price even if you didn't?
You don't pay taxes on coins you haven't sold. |
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Whereas a week ago, people were saying they'd sell for much higher than market value and other bullshit. Does anyone still believe this?
Well, I can't even fathom what those silly people are wanting or expecting to hear. Auction buyers who paid $800-1000/btc? $5000/btc? These types of HNW professional investors are going to hold on to these coins for a VERY long time, regardless if they paid over or under so-called "market" value. So wtf does it really matter what they paid for them? The Winklevoss Twins own 1000's of coins, and I believe paid ~$100-ish/btc. They have yet to sell a single, SINGLE, coin yet. And from what I hear, don't plan to any time soon. So why would these auction buyers be any different than the Winklevii? |
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