Would you panic sell when/if you get back your coins from Pirate?

[mindphlux]

Hi,

Just trying to judge how many of you would do a panic sell once these 500k hit the market..

Let the voting begin!

--mindphlux

[1714648113]

1714648113

[1714648113]

1714648113

[dust]

I will panic buy when pirate doesn't pay.

[RoloTonyBrownTown]

Certainly not.  I'll be waiting for the next "bubble" at the very least, but most likely they'll just go to a new investment when something decent shows up. 

[unclescrooge]

Looks like people are reasonnable.

Or want you to believe it.

[VelvetLeaf]

"Panic sell" sounds bad in ear.
"Following" the market's movement sounds nicer.

[muyuu]

What coins? LOL

I will panic buy when Pirate desperately tries to sink the market. I would panic buy in the event that he miraculously paid everyone back and a number of people cashed out, but that won't happen so it's academic.

[PaulC2K]

Quite a bizarre question really.

If everyone got their coins back tomorrow, whats the incentive to 'panic sell' them?
If i'd lost $10k, then found it down the back of the sofa a month later, i dont panic spend it.
I understand the issue IF everyone panic sold, but i dont see what the incentive would be to do so, purely because you got them back.


A lot of this whole sub-forum seems to be a waste of time at the moment, theres people desperately trying to jump-start the market, and others trying to crash it. Theres few opinions which arent bias to their opinion. People saying they'll only buy coins when they're back at $15, they wont buy them at $10? I'd love to know who those people are, cos i'll sell them BTC at $15 a pop now if they really want that!
Likewise the folks saying they'll only start buying at $1 however i'll let someone else offer that trade.
Whether this thread falls into trying to spread doom/fear ive no idea, but im giving peoples opinions less worth/value because sometimes they feel agenda driven.

For transparency, im mining to sell, only 600Mh/s or 0.3BTC/day, very much minor league . But most 'opinions' at the moment, in this sub-forum at least, are bias and agenda driven. Not worth a damn.

[BadBear]

If everyone got their coins back tomorrow, whats the incentive to 'panic sell' them?

I'm guessing the thinking is that people bought coins specifically to invest with Pirate because of the high interest rate. Once they get them back, sell them and go buy some big boy toys.

[JoelKatz]

I'm guessing the thinking is that people bought coins specifically to invest with Pirate because of the high interest rate. Once they get them back, sell them and go buy some big boy toys.

The counter-argument would be that they would expect a panic sell (or at least recognize it if it happened) and so should be willing to wait a bit to sell as the market normalizes. So if Pirate does repay people, you would expect a significant medium-term downward pressure on the price of Bitcoins as more and more investors pick that time to cash out.

[Bitcoin Oz]

If you get your coins back from pirate I suggest you buy a lottery ticket with some of them 

[Raize]

The counter-argument would be that they would expect a panic sell (or at least recognize it if it happened) and so should be willing to wait a bit to sell as the market normalizes. So if Pirate does repay people, you would expect a significant medium-term downward pressure on the price of Bitcoins as more and more investors pick that time to cash out.

While I would agree with you regarding most Bitcoiners, the kinds of people that invested in Pirate seem to be anything but rational. Have you seen their posts and how quickly so many of them began auctioning off 1000k BTC accounts?

I think he's pretty much gotta pay in small increments and get to the larger holders last in order to keep the price from completely tanking. It's funny, he appears to actually be buying back the loaned coin as his own customers sell them back to him, so the more he returns, the cheaper he gets it. If Pirate isn't the guy hedging the price for Silk Road vendors I'd be extremely surprised at this point. It seems pretty blatantly obvious now. I think for the last year we've clearly been underestimating just how much money is going through Silk Road.

[JoelKatz]

It's funny, he appears to actually be buying back the loaned coin as his own customers sell them back to him, so the more he returns, the cheaper he gets it.

Do you have any evidence to suggest that Pirate is buying the debt rather than selling it? It's clearly much more in his financial interest to be selling his own debt than buying it (selling it yields him money, buying it costs him money), and I've seen no evidence to suggest that's he's taking the loss profitable route.