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August 21, 2012, 12:53:27 PM |
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Just curious to everyones opinion, is the value going to stabalize at around $10 for a while or is it going to crash/rally again in the near future?
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Piper67
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August 21, 2012, 01:02:11 PM |
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Just curious to everyones opinion, is the value going to stabalize at around $10 for a while or is it going to crash/rally again in the near future?
Yes
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DeathAndTaxes
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Gerald Davis
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August 21, 2012, 01:04:58 PM |
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Yes. No. Maybe. Both. Neither.
Game theory time: If someone actually could predict the market it would be in their best interest to not tell you (trading is a zero sum game). If someone can't predict the market it would be in their best interest to lie and have you become the counterparty for their trade (allow them to sell for more or buy for less).
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LoweryCBS
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firstbits 1LoCBS
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August 21, 2012, 01:10:39 PM |
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If someone actually could predict the market it would be in their best interest to not tell you (trading is a zero sum game). If someone can't predict the market it would be in their best interest to lie and have you become the counterparty for their trade (allow them to sell for more or buy for less).
Unless... That's EXACTLY what they WANT you to think! ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FXj0oX.gif&t=665&c=IxUV6xEq4UMK0Q)
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elosk
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August 21, 2012, 02:02:16 PM |
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Personally, I believe that the market is going to drop even further than it did over the weekend. Maybe it is just that I have good faith, but I believe that Pirate will soon start paying everyone what they are owed. Once that happens, hundreds of thousands of coins will return to the market, many of which will be sold, flooding the market and bringing the prices down.
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VelvetLeaf
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August 21, 2012, 03:11:55 PM |
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Buyer doesn't even want to touch the buy order at the current price Seller want to sell at $30 $15 $10, go figure. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FqKk66.png&t=665&c=jDLLlVSbvEqPrQ)
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Raize
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August 21, 2012, 04:00:48 PM |
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These bids are so thin for someone who wants the price to go up so badly. And the walls are so fake. It's pretty clear someone's got a lot to sell right now, IMHO. The price is only increasing so they can get people to line up their bids for the next big sell-off.
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skinturtle
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August 21, 2012, 04:05:35 PM |
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Personally, I believe that the market is going to drop even further than it did over the weekend. Maybe it is just that I have good faith, but I believe that Pirate will soon start paying everyone what they are owed. Once that happens, hundreds of thousands of coins will return to the market, many of which will be sold, flooding the market and bringing the prices down.
Nah, I believe he's gone with his 500k btc
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blazing
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August 21, 2012, 04:15:42 PM |
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These bids are so thin for someone who wants the price to go up so badly. And the walls are so fake. It's pretty clear someone's got a lot to sell right now, IMHO. The price is only increasing so they can get people to line up their bids for the next big sell-off.
Agreed. I'm suprised we're still sitting at $10. It's just a matter of time.
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proudhon
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August 21, 2012, 04:37:23 PM |
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Funny tweet from Enky Nakamura this morning: It's hard for me to forecast the price range when there's an ignorant investor with 400k bitcoins in the bag,he is like a baby with a gun:)
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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jimbobway
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August 21, 2012, 04:43:22 PM |
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pirate has not paid anyone back yet. Which means he may be planning another big move to drop prices further. I'm positioned to buy more bitcoins when this happens.
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Serge
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August 21, 2012, 05:15:54 PM |
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There are two opposite forces at work:
1. more press in the media, BitInstant's debit card being mentioned everywhere which is going to reflect in more bitcoin appreciation on top of past two weeks of news 2. possibility of pirate returning bitcoins to lenders which will put some excess stock on exchanges driving price down
result: short term volatile uncertainty
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niko
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August 21, 2012, 05:17:52 PM |
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The price is only increasing so they can get people to line up their bids for the next big sell-off.
As in: it rained today only so I don't have to water the garden?
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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Spekulatius
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August 21, 2012, 06:08:09 PM |
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Yes. No. Maybe. Both. Neither.
Game theory time: If someone actually could predict the market it would be in their best interest to not tell you (trading is a zero sum game). If someone can't predict the market it would be in their best interest to lie and have you become the counterparty for their trade (allow them to sell for more or buy for less).
In this case your logic does not apply because you are dealing with a large group of traders instead of only one. When the majority of traders on the market shares your believe, the market is going your way. This is based on mass psychology and the herd behaviour.
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Technomage
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August 21, 2012, 06:21:37 PM |
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We just had the biggest news since Silk Road (Bitcoin Mastercard) so I'd say buy while it's still cheap. Price may go down a bit on the short term but I'd say that the combination of the recent news, the September Bitcoin announcement and the block reward halving... going up is a near certainty.
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Denarium closing sale discounts now up to 43%! Check out our products from here!
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Spekulatius
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August 21, 2012, 06:39:54 PM |
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We just had the biggest news since Silk Road (Bitcoin Mastercard) so I'd say buy while it's still cheap. Price may go down a bit on the short term but I'd say that the combination of the recent news, the September Bitcoin announcement and the block reward halving... going up is a near certainty.
I totally agree...after this week has come to an end. With paybacks and 500k BTC (walls?) looming ahead, I wouldnt expect a rise too steep before this week has passed.
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niko
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August 21, 2012, 06:41:15 PM |
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pirate has not paid anyone back yet. Which means he may be planning another big move to drop prices further. I'm positioned to buy more bitcoins when this happens.
Are you going to sell beforehand?
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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Elwar
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Viva Ut Vivas
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August 21, 2012, 06:41:30 PM |
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The price was rising slowly based on more than just the ponzi scheme. There are a lot of advances and the block reward is dropping in half. This means that we are outpacing the 50% inflation at the current rate. When the inflation rate is cut in half and we continue at this rate, that means a 25% increase in value yearly at least.
Pirate dropped about 10k BTC last month and the price dropped from $9 to $8. He dropped 100k BTC over the weekend. It was bound to fall. He can only drop it that much 4 more times.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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sunnankar
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August 22, 2012, 01:30:56 AM |
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Pirate dropped about 10k BTC last month and the price dropped from $9 to $8. He dropped 100k BTC over the weekend. It was bound to fall. He can only drop it that much 4 more times.
Plus, I think you are underestimating the possibility of there being much deeper pockets that Pirate which kind of enjoy shaking the Bitcoin tree to see if any bitcoins fall out. And from another thread: I have already started helping some people formulate a USD/gold to Bitcoin carry-trade.
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Technomage
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August 22, 2012, 11:35:59 AM |
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Denarium closing sale discounts now up to 43%! Check out our products from here!
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