I just think 9.8% of voters need to quit gurgling old pirate balls!  He isn't doing anyone a favor, and he's only doing minimal good for the market, which will only have very short term effects. Anyone taking part in pirate's "BANK" is not a true bitcoiner, and has let their greed black out what bitcoin is all about. They lent their coins to a man who makes it his mission to grab money from everyone and anyone fucking sad. |
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with so many trolls on the forums
i wouldn't believe anyone that clicks 100,000
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If bitcoin was used for every single trade made by every single person on the planet, the system would collapse in about 0.5 seconds...  The internet would probably also collapse... We would probably need much more capacity, hard drives would be too small, processing power too slow, and we would need like a few hundred different crypto currencies... |
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bitcoin broke a record yesterday Most Volume in Currency in a 6 hour time frame  |
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I have seen one guy in my area accept BTC on craigslist.
I thought briefly that it would be a good idea to offer something very cheap and put in the ad that you only accept Bitcoin. But then drop the ad after enough people have figured out how to use Bitcoin.
Kinda wrong but it would get exposure.
someone should do this just for lolz "wtf is bitcoin, i have cash! i pay cash! ok?" "no, only bitcoin"  |
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Adam, I had similar idea posted somewhere on the first page of this thread  It makes a lot more sense for big money to move in into bitcoin with slow strategy without effecting market much, and then ride it for interim profits with ability to purchase more at lower rates. The tricky part which is hard to figure out is re-buying what is owed to lenders. But why borrow 250000 BTC at 7% per week in order to do this? who borrowed 250000 BTC ? Is not 7% per week that pirateat40 is paying? As for the 250000 BTC that is approximately what it would take to drive the price down on MtGox to 1.80 USD to 1 BTC. <proudhon> pirateat40, could you stop another "rally" if one were to ignite right now and buy up above $10? <pirateat40> proudhon, i could take use to 1.80 if i needed to. he needs all these coins to put put huge ask walls / sell some, when he needs the price to go down |
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Adam, I had similar idea posted somewhere on the first page of this thread It makes a lot more sense for big money to move in into bitcoin with slow strategy without effecting market much, and then ride it for interim profits with ability to purchase more at lower rates. The tricky part which is hard to figure out is re-buying what is owed to lenders. But why borrow 250000 BTC at 7% per week in order to do this? who borrowed 250000 BTC ? |
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they supported the market at 5$
they saw they had bought enough coins at 5$ so that if they hold them the market slowly rises
they Pump the price over 6$, and get huge wall after huge wall sold into
the market moves up, Huge ask walls are put in place to drive the price down again.
they Buy as much coins as they can at the lowest price they can push it down too
they are in it for the long term, and are playing smart
they won.
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I have a new theory!
Pirate is allowing ovr X million dollars of new money to enter the market below 10$ ( by keeping the price down as much as possible as he buys over 1 million coins )
once he's done his investors (wtv you wana cal them) will simply hold on to over 1million coins and watch the market naturally rise to over 50$ each!
If I had the money I would do the same. I would buy slowly over time. and you get someone with 500,000BTC on hand. and make a deal to have him help keep the price down with huge ask walls, as you buy slowly it makes perfect sense, think about whats been happening on the market some how the market was tricked into dumping 30,000coins at 6.55 ~200,000$ https://bitcointalk.org/index.php?topic=85687.msg966751#msg966751the same huge buy small price bump has been happening for 2 months the price actually dropped after that buy. https://bitcointalk.org/index.php?topic=85687.msg970293#msg970293 <- 1 day after the big 6.55 bid wall gets sold into look at the quot for that picture "My wall was sold out? Oh, lets jut put another." |
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Sometimes its hard to see anything from my lowly position in the shadows amongst the towering egos and mental giants in these forums.
the small players do have an advantage in this market when you decide to double your coins you dont have to worry about pumping up the price as much as someone with say 2 million, even a 1/2 million dollar investment in bitcoin has to be handled with care (cant just hit buy button). |
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I have a new theory!
Pirate is allowing ovr X million dollars of new money to enter the market below 10$ ( by keeping the price down as much as possible as he buys over 1 million coins )
once he's done his investors (wtv you wana cal them) will simply hold on to over 1million coins and watch the market naturally rise to over 50$ each!
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If one were to buy 11.6 million USD worth of BTC at market on MtGox today the price of 1 BTC would rise to 1 million USD. As crazy as this may sound it is indicative of how minuscule the Bitcoin economy is today.
lol! this would be the most epic bubble from 1mill pre coin to 100$ If past history is any indication more like a drop from 1,000,000 USD to say 65,000 USD in a six month bear market. I dont know about you but I'd like to be a millionaire 300 times over! Oh OK ill take for 1 million for 300coins OK fine ill take 1/2 million for 300coin 65,0000USD for each of my 300coin... hmmm let me think about that... ya ok DEAL! ... 11.6 million USD invested wisely ( not bought up all at once like some crazy person) would bring us to (pulls a number out of his ass) 20-30$ and the guy would have about 1/2 million coins |
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If one were to buy 11.6 million USD worth of BTC at market on MtGox today the price of 1 BTC would rise to 1 million USD. As crazy as this may sound it is indicative of how minuscule the Bitcoin economy is today.
lol! this would be the most epic bubble from 1mill pre coin to 100$ ( in under 1 hour ) what do you think is gana happen if all of a suddend each coin is worth 1mill? |
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price is rising as a reaction to someone trying to buy a lot, that is all.
Agree. once hes done buying.... price is going to go back down to about 7 - 8
Disagree. After he's done buying, the number of coins available/on the market will be half a million dollars worth fewer. It's unlikely the price would settle so low after so many on-market coins are removed. Also account for lingering speculative froth from participants knowing a rich guy has bought in to the system. And there will be more rich guys... i agree, the fact that there is less coins will add value to all the other coins, sure. But he bought most of them at 6.50, so exactly how much more value should each coin be once hes done? It shouldn't be the high price his last few coins were bought at... i think < 8$ is a good possibility IF hes done buying. |
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"Bubble" is a pretty vague notion. I think a lot of people just use it when, in their opinion, prices have reached an unjustified level. But if prices must rapidly contract in order to get the "pop" implied by the term, how far and how fast do they have to contract? In the last bitcoin bubble, prices contracted by over 90% in about 5 months. Pretty safe to say that was a bubble. But suppose price climbs to 25 then retraces to 15 in 3-4 months. Is that a bubble? Not so clear. I'm expecting that when price contracts significantly, which it surely will at some point, people will say, "see, I told you it was a bubble!" But given how vague the term is in the first place, that's not a very interesting prediction. The whole debate would be a lot more interesting if we had some reasonably precise definition of what counts as a bubble. Something like, "price has to contract by at least 50% within 6 months."
ya we over use the word bubble... but bitcoin is like the master of bubble making just watch this video http://youtu.be/EciMcKacMBg - 2 mins http://youtu.be/gkolebY-N4w - 1 min ( dont listen to the crazy talk in the back ) |
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Lower, people will remember the last burst and will sell. Last time people had no idea where it would stop.
Ya they'll sell alright but if theirs enough people buying, that's not a problem UP UP UP AND AWAY!  |
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It is a legitimate topic of discussion for the speculation board because if pirateat40 does get caught up in a short squeeze, he is a big enough player that it will have an impact on the price at least in the short term.
Here is a helpful tip: 1. Withdraw your money and profits with him (if you have any with him) ASAP. 2. Don't sell below $10 in the short term. lol, indeed appears as a valid "squeeeze the pirate" strategy. Withdraw all from pirate, list for sale at 10.12345$ (or better yet in cold storage for a decade). I very much doubt 10.12345 USD will break pirateat40. The rest can work. Taking delivery is one sure way to push a short to the wall. a bank run on pirate's bank would defiantly break him ATM he would need to convert his usd into bitcoin to satisfy everyone's bitcoin requests and since the recent rise in bitcoin value, and the fact the he needs to buy more to could easily push us over 12-15$ and maybe he wouldn't be able to afford to buy back EVERYONE's bitcoin at this time his only hope ATM is that everyone stick with him and hope he can once again use the huge funds to make profit and recover... |
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I'm glad i canceled my bids asks, b4 going to sleep |
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