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Thanks for such a great (and encouraging) post.
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Someone, I think sadpandatech, predicted 8s today.
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From what I watch and read from the chat and forum, people that hold big amount of BTC (2k - 20k) are a bit reluctant to dump, as it'll hurt their investment.
But for normal people that hold small - medium amount of BTC (10 - 500 BTC), they don't have any problem dumping it to the market now to get fiat, now that BTST is closing and bitcoin is trending down.
Since there's no more incentive to get 28% profit per month, people will stop buying bitcoin in large amount.
At some point people will learn to cut loses and dump anyway when we reach "that price" level.
I've seen 10k ask order moved and eat most of buy order that's in the way a few hours ago.
The real dump party will start when pirate is giving back everyone's coin.
At least 10-25% coin that they get will get dumped just in case bitcoin get down further.
Exactly. But, many people don't mind dabbling in a little daytrading every now and again (especially in times like this) with a certain percentage of their bitcoin holdings. I like having USD and bitcoins, so it's kind of a win-win for me as long as I get to keep most of my coins in the end. Whatever USD I'm left with will either sit and wait to buy back in or it will go towards my IRL loans. The goal is to come out with more bitcoins in the end, but in the meantime I will keep earning and spending USD. |
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Ok, now I'm starting to see the appeal.
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One thing that I really liked about this forum from the start was the Newbie board. I didn't lurk at all, I just jumped right in because I felt comfortable asking questions on "the board that nobody cares about." Newbies helping newbies figure things out is a beautiful chaos.
There is no such thing as a dumb question on the Newbie board!
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Aloha Friday Bitcoiners! BIG fan. I'm new to the community but have been on the sidelines, supporting and cheering on my significant other's Bitcoin endeavors for the past year and a half. Just here to observe and learn... cheers!!
A girl! |
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Why did you guys sell on news of this announcement?
Because I knew everyone else would sell. Markets are silly like that. |
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Thanks for taking the time to explain things.
He's famous for that. Thanks from me too. |
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If you can buy now, I think you should go ahead. I'd guess lot of USD is about to hit the exchanges. It's faster to deposit bitcoins onto an exchange than it is to deposit USD.
TL;DR Very roughly, the sellers have sold before the buyers could buy. Undervalued in my opinion.
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Maybe you should look into posting on relevant threads instead of starting many new ones.
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My introduction to My Little Pony Friendship is Magic was from a fellow student in my study abroad group who was probably on the "spectrum." He went on and on (and on) about how MLP is a quality-content program written by people who genuinely enjoy what they do. He would ask to borrow our laptops to watch the latest episode and visit EquestriaDaily. (His roommates would also wake up to him thoroughly enjoying anime porn on his Nintendo DS in the middle of the night. Several times.)
He gathered the whole group to sit down and watch the show one night. I tried to give it a fair chance (because it was apparently a new internet fad) but I just couldn't get into it. I was expecting a few Pixaresque pop culture references or something, but I just didn't understand the hype. It brought to mind R9000 to be quite honest.
Laughing out loud at BadBear's troll.
Anyone want to rent my avatar space for Your Little Pony?
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Well, gosh, now that bitcoinica is gone and pirate's shutting down his operation, where are we all going to centralize our decentralized currency?
Were there really that many people keeping their coins with pirate? I figures most people thought his BS&L was considered either a scam or too risky, and most BTC owners stayed away? ~400k, give or take a lot |
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100% after the news.. someone linked the original pirate announcement thread in btc-e chat and as I was reading it the price was still at 15 for at least another 10mins or so before starting to drop
It was. I wish I could have had all my bitcoins confirm at Gox in time, because my plan was the same. |
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what if auxiliary services like pools mess up on the halving and give out too many (or too few?) coins,
each and every node verifies each block to ensure it complies with the protocol, or it rejects the block. This has been coded (and tested) long ago. I know the nodes and protocol are fine, but pool software could credit too high "unpaid rewards" based on shares, into pool accounts. If it amounted to anything substantial and the miners noticed before the pool operator and cashed out, the pool could lose coins. (I'm assuming they usually have an address holding enough coins to meet anticipated payout demand, and the software automatically transfers whatever balance is on the pool account.) Pool ops are well aware of the reward drop and will plan accordingly. |
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the game, as I see it, is to increase the number of coins you have as much as possible before they get too expensive.
This is exactly how I see things. |
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*guessing out of my ass*
Most of the newcomers are from the U.S.
Now that they've gone to bed and are done buying, the pessimistic europeans are just selling to each other.
Great time to buy! I just did.
To early to do that I think. Not really. I went in to daytrading mode. Since I sold at 12.80, I'm happy. This rally will bounce back. I'm just glad I have bitcoins instead of USD now. |
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*guessing out of my ass*
Most of the newcomers are from the U.S.
Now that they've gone to bed and are done buying, the pessimistic europeans are just selling to each other.
Great time to buy! I just did.
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Most of gold's value, by far, is not its so-called "intrinsic" value, but rather its speculative value.
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Butterfly Labs IPOs in GLBSE, and accepting payments only in bitcoins?
If BFL IPOs before the ASIC release, we should all have a pretty good idea of where that capital is going. I sure wouldn't buy. Where would that be? ASIC development? That's what I was implying... That the preorders weren't enough to cover the development cost. IPOing now would look like a move of desperation. Anyway I highly doubt this is what Gavin was referring to. |
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Sold about a third of my BTC at 12.80 (which was immediately after my coins hit Gox), looking to buy back in at under 12. Rally continues, but be prepared for lots of volatility to trade over.
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