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Author Topic: How much do bitcoin confirmations affect the price? (Short Term)  (Read 1079 times)
Yuhfhrh
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September 14, 2012, 09:10:49 PM
 #1

Miners are having bad luck and it's been about 1 hour since the last block was solved. That means there could be a build up of bitcoin transactions heading to mtgox. Will this cause a small dip in price within the following hour? Discuss.
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adamstgBit
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September 14, 2012, 09:13:47 PM
 #2

yes in a few more mins someone will get 50BTC and use that to crash the market

1 HOUR! really?

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September 14, 2012, 09:16:10 PM
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yes in a few more mins someone will get 50BTC and use that to crash the market

1 HOUR! really?

Mt Gox requires 6 confirmations before you can sell bitcoins you send them, and its been over an hour since the last "confirmation." I was not referring to the 50btc earned.

Edit:
See: http://blockchain.info/
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September 14, 2012, 09:19:00 PM
 #4

yes in a few more mins someone will get 50BTC and use that to crash the market

1 HOUR! really?

Mt Gox requires 6 confirmations before you can sell your bitcoins, and its been over an hour since the last "confirmation." I was not referring to the 50btc earned.

oh i see!

right....hmmmm

I think anyone who has bitcoins to sell, already has them on Gox

so i say very little effect

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September 14, 2012, 09:20:55 PM
 #5

yes in a few more mins someone will get 50BTC and use that to crash the market

1 HOUR! really?

Mt Gox requires 6 confirmations before you can sell your bitcoins, and its been over an hour since the last "confirmation." I was not referring to the 50btc earned.

oh i see!

right....hmmmm

I think anyone who has bitcoins to sell, already has them on Gox

so i say very little effect

But, because of this recent increase in price, there could be people wanting to sell now who weren't willing earlier. :O

Edit: It was solved and there was over 300k btc sent in the last 6 minutes, see? http://blockchain.info/block-index/296180/00000000000000ae2a914befe669a6a9cb1024c9223c3e42b137a3dbe1f68f4f
adamstgBit
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September 14, 2012, 09:32:55 PM
 #6

yes in a few more mins someone will get 50BTC and use that to crash the market

1 HOUR! really?

Mt Gox requires 6 confirmations before you can sell your bitcoins, and its been over an hour since the last "confirmation." I was not referring to the 50btc earned.

oh i see!

right....hmmmm

I think anyone who has bitcoins to sell, already has them on Gox

so i say very little effect

But, because of this recent increase in price, there could be people wanting to sell now who weren't willing earlier. :O

true, but 1 hour wont do anything.

if i was to sell +10,000BTC i would take my sweet ass time.

IDK, i did have a feeling a nice dip was coming soon, some how i dont think this 1 hour block is going to play much of a role

the price increase tho.....

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September 14, 2012, 09:59:05 PM
 #7

yes in a few more mins someone will get 50BTC and use that to crash the market

1 HOUR! really?

Mt Gox requires 6 confirmations before you can sell your bitcoins, and its been over an hour since the last "confirmation." I was not referring to the 50btc earned.

oh i see!

right....hmmmm

I think anyone who has bitcoins to sell, already has them on Gox

so i say very little effect

But, because of this recent increase in price, there could be people wanting to sell now who weren't willing earlier. :O

true, but 1 hour wont do anything.

if i was to sell +10,000BTC i would take my sweet ass time.

IDK, i did have a feeling a nice dip was coming soon, some how i dont think this 1 hour block is going to play much of a role

the price increase tho.....

The next block had over 450k lol
http://blockchain.info/block-index/296181/00000000000004b951a211b6be39aa9ab5af166f1effc598460eca063de479ec

Most of it is from that person laundering his money though I think
Spekulatius
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September 14, 2012, 10:10:27 PM
 #8

There have been longer intervals in between blocks, like 2 hours or so (in the early days even days!). But from those delays I have not yet noticed any significant impact on price or volume. If anything, volume could be expected to go up but again the influx of BTC from this little time interval is way too little to have any measurable effect.
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September 14, 2012, 10:14:08 PM
 #9


The next block had over 450k lol
http://blockchain.info/block-index/296181/00000000000004b951a211b6be39aa9ab5af166f1effc598460eca063de479ec

Most of it is from that person laundering his money though I think

i bet most mixing services mix your coins with about 500 other coins.

i wonder how clean you can get +100K coins by mixing them with 500 coins....


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September 14, 2012, 11:14:36 PM
 #10


The next block had over 450k lol
http://blockchain.info/block-index/296181/00000000000004b951a211b6be39aa9ab5af166f1effc598460eca063de479ec

Most of it is from that person laundering his money though I think

i bet most mixing services mix your coins with about 500 other coins.

i wonder how clean you can get +100K coins by mixing them with 500 coins....

Not the coins become cleaner, all the others become dirtier!
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