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1102
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 06, 2014, 04:57:10 AM
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Ask wall just grew by 2.5k Well I guess he can buy back some of his coins cheaper now >.<
Um, what? You know, sell at $300 per coin. Get others to panic sell and pick the coins a bit cheaper from other dumpers, removal wall and allow price to rise. Buy in the $290's or lower and sell at or above $300. If he wanted to induce a panic sell he wouldn't have set up this wall - just sell outright and let chaos reign. He needs some cash NOW and is trying to get what he can for his coins. Uh, putting a huge wall like that instills some fear in people to sell lower (as we have seen). Selling to all open market orders would be a VERY expensive price for a market scare and he may not have enough time to buy any coins cheaper. I'm honestly still thinking that he may be buying through his own wall here to invoke a bullish sentiment so that he can start the next rally. |
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1107
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 06, 2014, 04:35:29 AM
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A viable proposal from another thread -
"I've wondered whether the Oct 15 deadline for US income tax might be playing a role. Someone who needed to sell bitcoin to pay 2013 income taxes may have taken the 6-month extension, thinking / hoping that the next bubble would have at least started by now. "
This would really make sense. The whale spent the last few days trying to get the best price possible, and now is left with setting up a wall that will get eaten hopefully in a day or two. Once eaten, it takes a few days to get the cash off of the exchange and off to the IRS.
Seems VERY bullish to me.
How is that bullish? |
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1110
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Bitcoin / Bitcoin Discussion / Re: How Low Does Bitcoin's Price Need Get to Make People Stop Believing?
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on: October 06, 2014, 03:01:43 AM
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Price will go down as adoption goes up, simple as that. Until we have more consumer demand (or large investors) it will stay relatively low. I'm okay with that as I know bitcoin right now is building up its useability in the future and has had a lot of good news recently. If you only look at short term prices when making long term decisions you're going to make bad calls.
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1111
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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: GAWMiner Hashlet Discussion Thread
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on: October 06, 2014, 02:57:41 AM
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As more merchants adopt it the price will go down. This is because now there is more places to spend bitcoins, those merchants are using services like coinbase or bitpay that take those bitcoins and then resell them for cash on exchanges like bitstamp thus lower the price of bitcoin.
Bitcoin price probably wont go up again until there is more consumer for demand for the coin or until these business can start paying their suppliers in bitcoin and thus less will be converted to cash on exchanges.
The price lowering is further fueled by large scale miners. As each bitcoin becomes worth less the miners have to sell more and more of their coins everyday to cover their operating costs, once again further lowering the price of bitcoin.
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1114
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Economy / Speculation / Re: [prediction] Next spike $560,000 14 months from now
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on: October 03, 2014, 08:07:33 AM
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Whoops! I apologize for somehow missing your response. So if we call the peak around November, 2013 (910 days on the log chart) then add 11 months (330 days) that would put us at 1240 which is essentially the low for the current cycle prior to another growth spurt? At least on that one set of inputs you had that is. Or is the x-axis so abstract that it is simply to illustrate the cyclical nature of potential up's/down's of price over a hypothetical time period? Thanks for the post man  |
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1115
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Economy / Speculation / Re: Dumpers are gone , bottom has been reached (366)
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on: October 03, 2014, 07:56:48 AM
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It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.
I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.
I believe we still would have seen plenty of infrastructure growth if Bitcoin had stayed in the $100-$200 range. Hell, I was going to start a business until the price skyrocketed to $1000. Now I'm pointed towards accumulation, as I'm sure many are. If anything it has created more speculators. I think Central Banks are full of smart people but stuck in their political bubble where things happen very slowly. Bitcoin is probably on their radars, but ask one of the old farts on the board what open source software is and watch the confusion. It's the same phenomenon that causes corruption in governments and bureaucracies around the world. The corruption becomes institutionalized, normalized and the people on top tend to block ideas that would threaten the status quo, which they depend on for their quality of life. The boys on the bottom see it as the only route to a political "career" and happily comply. Though Central Banks loan money to the US government, they are technically not part of the government. Since they can't close down Bitcoin, they are generally powerless against it besides trying to influence the slow process of legislation. And they must comply with the regulations that their predecessors put into place to help their banker friends and family get rich from, so it's not like they can just wave away Bitcoin. Or maybe, just maybe, there's a nagging feeling in the back of central bankers' heads that Bitcoin could help them in the future, as they aren't stupid they know the financial system in both Europe and the US is on the brink. Central banks perform market operations in the stock markets, gold markets and of course forex. Bitcoin is tiny but definitely on their radar. Central banks buying bitcoins would lend a sense of legality to bitcoins. Governments wouldn't let central banks do that, at least not until they are sure that it is in their best interests. Wait.....Do governments run the show or do the central banks   |
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1116
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Bitcoin / Mining speculation / Re: Projected Minimum Cost per BTC over the next year
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on: October 03, 2014, 07:49:01 AM
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I love what you have done here, but I think there should be some adjustments to the numbers. Use $0.08 per KWH and 0.68W/GH. The numbers won't look as optimistic for us, but they are probably more realistic for near future calculations.
Even the antminer S3 is already 0.78W/GH and the Antminer S4 gen will take it down to 0.68. As far as cost for electricity goes it can get pretty cheap in some parts of china where there is a lot of mining power and good contracts through the use of government officials. Even for a very urban area like LA, California the base fee is $0.08 for residents (which quickly scales up based on usage). Mid-west states can get a stable $0.08/KWH for agricultural purposes.
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1117
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 03, 2014, 07:40:30 AM
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Guys.... I'm a whale incognito and I need you to panic sell all of your coins immediately so I can buy in before my planned pump.
Resistance will result in your financial destruction.
Thank you for your cooperation,
:Lyth
If you are a real whale you sound pretty desperate. Let's buy some extra coins. No please stop buying coins. Keep your fiat. It is much more valuable and it has a lot of really smart people regulating it to perfection. |
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1118
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 03, 2014, 07:36:51 AM
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Guys.... I'm a whale incognito and I need you to panic sell all of your coins immediately so I can buy in before my planned pump.
Resistance will result in your financial destruction.
Thank you for your cooperation,
:Lyth
Your joke makes little to NO sense.  I was looking at these charts and became bored. So why not?  |
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