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1545
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 05:26:09 PM
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This whole silly auction thing reminds me of last summer when the sale of Satoshi Dice led to a good chunk of coins (126k?) being paid out to shareholders.
Some fools thought they would all hit the exchanges and sink the price, leading to an immediate flash crash from $98 down to $86. Even though there was no appreciable impact of the payout the next day (prices actually rose), it took over a week to recover.
It seems the kind of people who held shares in SD were also the kind of people to hold their bitcoins, actual Bitcoin people and not just traders. Surprise, surprise.
When the list of bidders in the auction was leaked it should have been fairly obvious that they probably weren't going to immediately sell them, let alone at exchanges.
The whole thing was a non-issue.
As usual the only thing that is sinking the price is the panic sellers sinking the price because they are afraid the price might sink. Every single time. |
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1546
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 05:24:10 PM
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Huh?? I don't think you understand what i'm saying haha. Nevermind.
Oh ok then ... I was very simply saying ... "this auction the biggest thing in BTC? - naaaaah" If there was some sort of special secret meaning , that I have missed in your last few messages- then yeah I do not understand you. Ok, what i'm saying is you need to update your sarcasm detector. |
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1547
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 05:05:15 PM
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This was supposed to be the big one. Our "Silk Road Event" from 2013... the cataylst to the new ATH. So many people have been claiming that these coins will sell for a premium and catapult the market upward. So if it doesn't happen, then I know who's full of shit and who's worth listening to  D'y think ? this one single event ? naaaaah He is being sarcastic. It's quite odd how you fail to see what's going on. If you look at the market the last 10 days and this sub you would think this was the biggest thing in Bitcoin land this year. While, as always, when it's over it turns out to be nothing and everybody moves on like nothing happened. Yeah no shit? we are in agreement? (though it is still an "interesting" period of time for BTC, not because of the auction though) Of course we are. Huh? I have already stated that I do not think the auction is the most important thing in BTC this year.. far from it.. I have said it more than once... it is interesting that is all, though it was very very obvious that this week was going to see some chop! so clearly obvious. There is also I am quite sure going to be an interesting month ahead of us. Anyways... cheer up Huh?? I don't think you understand what i'm saying haha. Nevermind. |
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1549
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 04:58:08 PM
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I can totally see the sheep this monday go like this: Oooh shit do i panic or not? The coins sold for 580 but the price is now 610 while the price when they placed the bid was 560!!! Ommmgg somebody please tell me if we should panic sell or not!
And obviously nobody will be able to answer this. So they might panic anyway just to be sure.
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1550
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 04:51:57 PM
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This was supposed to be the big one. Our "Silk Road Event" from 2013... the cataylst to the new ATH. So many people have been claiming that these coins will sell for a premium and catapult the market upward. So if it doesn't happen, then I know who's full of shit and who's worth listening to D'y think ? this one single event ? naaaaah He is being sarcastic. It's quite odd how you fail to see what's going on. If you look at the market the last 10 days and this sub you would think this was the biggest thing in Bitcoin land this year. While, as always, when it's over it turns out to be nothing and everybody moves on like nothing happened. Yeah no shit? we are in agreement? (though it is still an "interesting" period of time for BTC, not because of the auction though) Of course we are. |
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1551
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 04:44:31 PM
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This was supposed to be the big one. Our "Silk Road Event" from 2013... the cataylst to the new ATH. So many people have been claiming that these coins will sell for a premium and catapult the market upward. So if it doesn't happen, then I know who's full of shit and who's worth listening to D'y think ? this one single event ? naaaaah He is being sarcastic. It's quite odd how you fail to see what's going on. Why people are being sarcastic. If you look at the market the last 10 days and this sub forum you would think this was the biggest thing in Bitcoin land this year. While, as always, when it's over it turns out to be nothing and everybody moves on like nothing happened. |
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1553
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 03:34:06 PM
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 How can anyone be angry , when there is a bouncing baby elephant ? Not that it matters but i guess you are a woman, right? Or at least gay  ummm, errr... okaaaayyy... How about no? and how about another no? Bouncing is just a theme right now, like I said important. ps- I do not really dance in the mornings... just at special times Wow ok. Well bounce on. |
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1556
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 03:05:17 PM
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Were taking time to talk about 'what is a market price'? Oh my.
Considering what price the coins went for is the most important issue this year and nobody call tell what the actual market price to compare it to is, yes, now is a good time to discuss it. I totally disagree it is the most important issue this year regarding Bitcoin, it is a sideshow that is important now and soon will not be. Again i was being sarcastic  meh sorry, normally I have a good sarcasm radar, I have just woken up, and had a little dance around the place and so I am a little light headed right now with euphoria and glee (that is just how I tend to wake up these days) You dance after you wake up  |
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1557
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 03:00:35 PM
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Were taking time to talk about 'what is a market price'? Oh my.
Considering what price the coins went for is the most important issue this year and nobody call tell what the actual market price to compare it to is, yes, now is a good time to discuss it. I totally disagree it is the most important issue this year regarding Bitcoin, it is a sideshow that is important now and soon will not be. Again i was being sarcastic |
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1559
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 02:55:40 PM
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good morning bitcoin!
Very good morning Adam. Let me pour some Baileys in your coffee. It seems the bear trap has snapped shut and the silly little auction has passed without the sky falling down. All that and it's a gorgeous day here in T.O. Life is good. Wait, what? Are you telling me it isn't the biggest event of the year? I'm very confused now. Looking at the market behaviour the last week it has to be. Don't tell me people now are like "what auction?" and move on to the next thing. That would be crazy. Your blood pressure must be off the fricken charts..... Not at all. Sorry to dissapoint you |
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1560
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 27, 2014, 02:48:09 PM
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The answer to your question is very simple: the market price is the price you can buy or sell bitcoins for on the market at a given time. In the case of the auction the given time would be the time someone actually places their final bid(s). Because once you decide to make a bid you look at the current price on the exchanges and then figure out where you are going to place your bid relative to that. You will probably also look at the direction the price is heading and your bid will be lower if you think it's going down short term and higher if you think it's going up. So $600 per coin would have been above market most of the time people could place their bids and $500 would be below market. Is this all really that hard to understand? Are you an idiot?
Ok, let's say someone bids $550 right now. Are they below market or above market? There is no CLOSE OF THE MARKET DAY in bitcoin like there is in stocks. What if price falls to $520 by 6:05pm ET today? Or shoots up to $630 by 1AM ET Saturday morning? Then back down to $520 by Monday afternoon? I think ShroomsKit's point is pretty clear, and your's isn't. Who's the idiot now? It might be above or under the market price "most of the time". So people can panic or buy because of it "most of the time". |
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