Do you think there will be a massive dump this weekend ?

[Bitcoin Oz]

I am thinking pirate@40 will wait for the weekend to start paying back large account holders so if they sell off their coins the price will go down. This is assuming he has massive amounts of USD sitting on exchanges waiting to buy all the cheap coins and other people wont be able to deposit into banks over the weekend.

Unless of course everyone has already moved cash to the exchanges in anticipation of this event 

[beekeeper]

You sure pirateat40 knows what he will do this weekend? .. 

[LoweryCBS]

Unless of course everyone has already moved cash to the exchanges in anticipation of this event

I have large barrels of dry powder in place and ready to blow.

[gimme_bottles]

I have large barrels of dry powder in place and ready to blow.

+1

[augustocroppo]

YEAH!

[fcmatt]

everyone rushed to get usd in this week.
they did not really buy much.

everyone is waiting for a drop in price. i would reckon people are patiently waiting
for the 7 range.

i do not think the price will go that low anymore unless pirate does something.

so if pirate does something that causes 100K of btc to be sold you will get your price
of 7.

but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.

based on what i see of pirate. he does not give a shit and will trickle out the bare minimum
of funds to keep people guessing. expect this weekend to be slightly lower to slightly higher.
basically tough to day trade.

[ArticMine]

YEAH!

+1

[RoloTonyBrownTown]

Yeah.  I'm not really sure why everyone would suddenly dump when they get their coins back.  That doesn't really compute for me.     The people waiting to buy, that I understand.

[bitcoinBull]

I think we already saw the dump. Now Mr. M is just squeezing the last drops with his thin tiny bids. If/when the sell-drip stops, he'll flip the bids and asks to start pushing it the other way. His intention is to generate trading volume, he doesn't really care what the price is.

[cypherdoc]

but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.

+1

[Coreadrin_47]

but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.

+1

Maybe that's what he's waiting to see...

[ElectricMucus]

I see the chances that pirate dumps his coins over the weekend about at 1% max.

But we certainly need more FUD.  

[fcmatt]

I see the chances that pirate dumps his coins over the weekend about at 1% max.

But we certainly need more FUD.  

i think you meant speculation. not fud.

[ElectricMucus]

I see the chances that pirate dumps his coins over the weekend about at 1% max.

But we certainly need more FUD.  

i think you meant speculation. not fud.

Well at this point pirate is the boogie-man, people certainly fear him, they are uncertain about what he is about and they are doubting everybody who keeps a cool head.

Good for me I guess since I might get these really cheap bitcoins after all.

[n8rwJeTt8TrrLKPa55eU]

I have large barrels of dry powder in place and ready to blow.

Looking at the chart, if it was a normal highly liquid stock, I'd expect a retest of the $8 level or, if things got really dicey, maybe a decline back to test the original breakout (around $6) from the long consolidation.  I have some funds set aside to buy at those levels and am trying to get some more in place by next week; I suspect many others have done the same, which would lend price support.  And supposedly there is good news coming in September from many fronts, plus the London conference, all of which could be catalysts for higher prices.

Unfortunately, Bitcoin is not a normal highly liquid stock, and there is an abnormal black cloud of uncertainty hanging over its head until this Pirate thing gets resolved one way or the other, so any form of technical analysis is dicey.  Plus it's a small enough market to be easily manipulated in the short term.  So in the next 10 days, it could just as well go down to those support levels (I'll happily buy), or continue at $10 (I'll happily hold what I have), or return to $15 (I'll happily tally my gains).

A smart speculator will not try to guess the unknowable, but instead have a plan for each possible outcome.

[bitcoinBull]

but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.

+1

That said, I'd be quite surprised if it rocketed back up to $15. $15 is clearly resistance now, and I wouldn't be super quick to jump back in head first at $11 or whatever. The 50% retracement was pretty gut-wrenching, and it will probably need time to oscillate/consolidate for a while before it can truly break out.

[The-Real-Link]

I have large barrels of dry powder in place and ready to blow.

(Snipped the rest but...)
A smart speculator will not try to guess the unknowable, but instead have a plan for each possible outcome.

Agreeing with this.  Great post.

[Endgame]

A massive dump 2 weekends in a row seems a bit far fetched imo. As has been said, people would be ready for it this time. I think we'll see more of the same stagnation at $10