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Author Topic: Glad thats over  (Read 2907 times)
alan2here (OP)
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August 21, 2012, 07:53:53 PM
Last edit: August 21, 2012, 08:05:35 PM by alan2here
 #1

http://bitcoincharts.com/charts/mtgoxUSD#rg30zig2-hourzczsg2012-07-10zeg2012-08-22ztgMzm1g10zm2g25
phew, back to normal.

We can point to the spec of volitity on the right of the graph in a few months and tell people who missed it about how people were saying it would be the end of bitcoin.

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August 21, 2012, 08:07:55 PM
 #2

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
alan2here (OP)
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August 21, 2012, 08:09:57 PM
 #3

Thanks for the info elosk.

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August 21, 2012, 08:11:07 PM
 #4

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.

+1 this is what I think will happen as well.

If we find he sold the majority of the coins already...price will skyrocket...

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alan2here (OP)
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August 21, 2012, 08:15:04 PM
 #5

People seem to trust him greatly on the IRC channels.

Does it follow that when people get there BTC back there will be a lot of selling and the price will decrease?

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jwzguy
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August 21, 2012, 08:15:39 PM
 #6

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me.
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August 21, 2012, 08:16:30 PM
 #7

I was so close to selling everything on Monday morning Cheesy but luckily I was too lazy.

I've been scammed 10 years ago by Fast Market and Solid Investment Tongue, total ponzies. They paid 4% a week and were scams. 7 is just hilarious. This is why I believe pirate won't pay.

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muyuu
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August 21, 2012, 08:18:20 PM
 #8

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.

By everyone I think you mean anyone. 0 people reported paid back so far.

Load up your accounts at the exchanges, we may reap some nice single digit coins.

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August 21, 2012, 08:19:41 PM
 #9

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.

Meh, price will go down either way.
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August 21, 2012, 08:24:06 PM
 #10

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me.

How so? If people get their coins back, do you not think that many of them will sell to try and get out?

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.

Meh, price will go down either way.


Why do you think it will go down if he runs off?
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August 21, 2012, 08:25:28 PM
 #11

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me.

How so? If people get their coins back, do you not think that many of them will sell to try and get out?


Why would they? If they get paid back, it's not like they got burned.
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August 21, 2012, 08:28:04 PM
 #12

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me.

How so? If people get their coins back, do you not think that many of them will sell to try and get out?


Why would they? If they get paid back, it's not like they got burned.

True, and this is purely speculation, but I believe that after having someone else sitting on their coins for so long and after making large profits, that people will be inclined to convert at least some of their coin to fiat
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August 21, 2012, 08:29:31 PM
 #13

Simple economics. You increase the monetary base, the value of a unit of currency goes down.

Further more, people will sell out of fear that everyone else will sell. Look at the charts, it will only take a fraction of that 500k BTC to make a significant drop in the rate.

http://mises.org/daily/3229
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August 21, 2012, 08:32:34 PM
 #14

True elosk.

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August 21, 2012, 08:32:43 PM
 #15

I see absolutely no reason they would want to. I sure wouldn't. Fiat's going down in value every day, why do you think I invested in BTC in the first place? That wouldn't change because I got out of a HYIP without getting burned. (Hypothetically, I didn't invest.)

We're talking about an entire population, and while of course there may be some people who overextended themselves to take advantage of the interest and desperately need some cash, I wouldn't expect it to be the majority.

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August 21, 2012, 08:34:19 PM
 #16

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me.

How so? If people get their coins back, do you not think that many of them will sell to try and get out?


Why would they? If they get paid back, it's not like they got burned.

Because the only reason they bought the bitcoins was to invest for the interest rates? (I'm not saying all pirate investors were like this, but some must have been.)
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August 21, 2012, 08:35:57 PM
 #17

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me.

How so? If people get their coins back, do you not think that many of them will sell to try and get out?

But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.

Meh, price will go down either way.


Why do you think it will go down if he runs off?
Loss of confidence, hampering the bubble we had.
I think the value without megabulls is below $10.
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August 21, 2012, 08:36:08 PM
 #18

Simple economics. You increase the monetary base, the value of a unit of currency goes down.

Further more, people will sell out of fear that everyone else will sell. Look at the charts, it will only take a fraction of that 500k BTC to make a significant drop in the rate.

It's not out of circulation when pirate has it, is it. Isn't he using it to buy and sell too?

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August 21, 2012, 08:36:47 PM
 #19

Simple economics. You increase the monetary base, the value of a unit of currency goes down.

Further more, people will sell out of fear that everyone else will sell. Look at the charts, it will only take a fraction of that 500k BTC to make a significant drop in the rate.

Except there wouldn't be an increase in the monetary base. People are just getting loans paid back.

Some people may sell out of that fear - their loss. The charts only show the current orders on the books. They do not reflect the entire user base by any stretch.

The longer this payout takes, the more academic this conversation is, though.

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August 21, 2012, 08:40:01 PM
 #20

Because the only reason they bought the bitcoins was to invest for the interest rates? (I'm not saying all pirate investors were like this, but some must have been.)
Why would anyone think it was the majority. You're not invested in Bitcoin but you decided to take the leap because of an extremely risky HYIP opportunity? I would think that's almost no one.

Loss of confidence, hampering the bubble we had.
I think the value without megabulls is below $10.

Obviously if you remove a big chunk of the the population that values Bitcoin, the market price drops. But you can't. So the only value that matters is the one that reflects the behavior of the entire population.
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