No Grexit, Bitcoin Price Tumbles

[iliasyaco]

Damn its dancing  

[Fiat_Hodler]

We were all gna be so rich and rolling in bitcoin money!!!

[TheRealistMassiah1]

There was no way that bitcoin price should of been correlated to the "Grexit" ... That is an irrational and illogical reasoning to how Greece could send bitcoin plummeting $15-$20. When Greece's GDP and bitcoin availability is not that well established. So no clue why there is a rationality or logical correlation to "Grexit" and bitcoin price but I guess someone has been able to take advantage of it.

[NeuroticFish]

In case of Grexit, bitcoin would have reached a new peak, maybe double. Some speculators gave this idea a try.
The virtual gain was huge and the risk was rather small. 9% or less.

[TheRealistMassiah1]

In case of Grexit, bitcoin would have reached a new peak, maybe double. Some speculators gave this idea a try.
The virtual gain was huge and the risk was rather small. 9% or less.

Are you pulling numbers out of your rear? ... how is it possible for bitcoin to be Greece's currency when bitcoin itself is not a currency it's an account that has an exchangeable price for it's "Realized Value" like a conversion to USD EUR or CNY ... in this case Greece HAD NO MONEY ... what were they going to do to obtain these "bitcoins" ... pillage and commandeer their citizens bitcoins ... start a war to commandeer other countries bitcoins?? what a joke rationalization...


Side note: clarifying Account for you guys,
Account : Intangible Assets Account ... aka comparable to a commodity note..

[TheRealistMassiah1]

Also I forgot to note that Greece would have needed 80,000,000,000 euros worth of bitcoins = 25 times the bitcoin market , meaning that we would of needed 14,380,000* 25= 359,500,000 bitcoins to serve the economy of Greece. I don't know when Satoshi plans to implement that increase but hopefully it would have been soon for Greece's resolution ... am I rite (//end sarcasm)

Side note: Obviously 359,500,000 (395.5 million bitcoins) would not have been feasible but in that scenario that's only for Greece alone, what if we wanted to add All of Euro, and China, and USA with their $10,000,000,000,000 (10+trillion in bailouts) O_O that would be a dire number to see.

[MF Doom]

I think most people could tell a sharp correction was due, especially after going to $310 yesterday afternoon.  This is the normal process when btc price begins to run up.  Also another reason I didn't buy in yet.  The market is so easily and quickly controlled, it seems that events like the greek default have some play into the price, but moreso its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

[TheRealistMassiah1]

I think most people could tell a sharp correction was due, especially after going to $310 yesterday afternoon.  This is the normal process when btc price begins to run up.  Also another reason I didn't buy in yet.  The market is so easily and quickly controlled, it seems that events like the greek default have some play into the price, but moreso its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

The only way the Greek "default" had played a role in the market is the "whales" manipulation of the market advantage in doing so.... otherwise there is no correlation between Greece and bitcoin... there would of been no reason to.

[Morecoin Freeman]

...its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

This is true. They're even not necessarily whales. Just a bunch of good traders.

At what point is someone considered a whale anyways?

[TheRealistMassiah1]

...its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

This is true. They're even not necessarily whales. Just a bunch of good traders.

At what point is someone considered a whale anyways?

Loose Definition of a Whale:
The ability to sway a market simply based on your liquidity weight, example current order book average Ex, bitfinex lets say its 3000 bitcoins either direction on the Sell and Buy side, so being a whale on very low liquidity = having 500,000 Usd - $4,000,000+ Usd to sway that market... in my per se case its the ability to sway the market at least a few points in one direction and keep it there with other incoming support.


Side note It only took 14,000 bitcoins to drop from 308 - 284 ... That is a pretty sad realization when you realize that .1% of liquidity control = almost a 6% tumble in TOTAL market cap  which equates to a market cap value loss = $240,000,000 USD loss ....

[MF Doom]

I think most people could tell a sharp correction was due, especially after going to $310 yesterday afternoon.  This is the normal process when btc price begins to run up.  Also another reason I didn't buy in yet.  The market is so easily and quickly controlled, it seems that events like the greek default have some play into the price, but moreso its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

The only way the Greek "default" had played a role in the market is the "whales" manipulation of the market advantage in doing so.... otherwise there is no correlation between Greece and bitcoin... there would of been no reason to.

I think it played into the situation in the sense that collectively everyone is expecting a large increase when entire countries are being kept from their bank deposits.  Maybe the money isnt coming from greece, but people around the world see these situations, and collectively "pump" the price, hoping for a run up.  Then anyone happy with their gains from $250-$310 can cash out, and that starts a windfall, always happening in the course of a few hours.

To me thats the scariest thing about holding btc, it can and will drop in a matter of hours.

[TheRealistMassiah1]

I think most people could tell a sharp correction was due, especially after going to $310 yesterday afternoon.  This is the normal process when btc price begins to run up.  Also another reason I didn't buy in yet.  The market is so easily and quickly controlled, it seems that events like the greek default have some play into the price, but moreso its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

The only way the Greek "default" had played a role in the market is the "whales" manipulation of the market advantage in doing so.... otherwise there is no correlation between Greece and bitcoin... there would of been no reason to.

I think it played into the situation in the sense that collectively everyone is expecting a large increase when entire countries are being kept from their bank deposits.  Maybe the money isnt coming from greece, but people around the world see these situations, and collectively "pump" the price, hoping for a run up.  Then anyone happy with their gains from $250-$310 can cash out, and that starts a windfall, always happening in the course of a few hours.

To me thats the scariest thing about holding btc, it can and will drop in a matter of hours.

You know what you should truly be worried about though besides those points ... Should Be For When "smart money" moves out and the market can no longer sustain liquidity for cashing out your bitcoins and  you are stuck holding meaningless hashed characters. At that point everyone is looking at others if they still see and value it enough to buy your "hashed characters" for a certain price. That is true fear and is really scary!

[spazzdla]

I think most people could tell a sharp correction was due, especially after going to $310 yesterday afternoon.  This is the normal process when btc price begins to run up.  Also another reason I didn't buy in yet.  The market is so easily and quickly controlled, it seems that events like the greek default have some play into the price, but moreso its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

The only way the Greek "default" had played a role in the market is the "whales" manipulation of the market advantage in doing so.... otherwise there is no correlation between Greece and bitcoin... there would of been no reason to.

I think it played into the situation in the sense that collectively everyone is expecting a large increase when entire countries are being kept from their bank deposits.  Maybe the money isnt coming from greece, but people around the world see these situations, and collectively "pump" the price, hoping for a run up.  Then anyone happy with their gains from $250-$310 can cash out, and that starts a windfall, always happening in the course of a few hours.

To me thats the scariest thing about holding btc, it can and will drop in a matter of hours.

You know what you should truly be worried about though besides those points ... Should Be For When "smart money" moves out and the market can no longer sustain liquidity for cashing out your bitcoins and  you are stuck holding meaningless hashed characters. At that point everyone is looking at others if they still see and value it enough to buy your "hashed characters" for a certain price. That is true fear and is really scary!

You should really be buying out Sr. mem accounts to do your FUD.

[TheRealistMassiah1]

I think most people could tell a sharp correction was due, especially after going to $310 yesterday afternoon.  This is the normal process when btc price begins to run up.  Also another reason I didn't buy in yet.  The market is so easily and quickly controlled, it seems that events like the greek default have some play into the price, but moreso its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

The only way the Greek "default" had played a role in the market is the "whales" manipulation of the market advantage in doing so.... otherwise there is no correlation between Greece and bitcoin... there would of been no reason to.

I think it played into the situation in the sense that collectively everyone is expecting a large increase when entire countries are being kept from their bank deposits.  Maybe the money isnt coming from greece, but people around the world see these situations, and collectively "pump" the price, hoping for a run up.  Then anyone happy with their gains from $250-$310 can cash out, and that starts a windfall, always happening in the course of a few hours.

To me thats the scariest thing about holding btc, it can and will drop in a matter of hours.

You know what you should truly be worried about though besides those points ... Should Be For When "smart money" moves out and the market can no longer sustain liquidity for cashing out your bitcoins and  you are stuck holding meaningless hashed characters. At that point everyone is looking at others if they still see and value it enough to buy your "hashed characters" for a certain price. That is true fear and is really scary!

You should really be buying out Sr. mem accounts to do your FUD.

How was the FUD ... It was an example and scenario played out , and why would you even suggest buying accounts, that's stooping to such a SAD SAD level on the internet LMFAO ... buying accounts to speak on a forum wtf?

side note: Its oblivious ignorance to the bare facts that causes the sheep to get killed?

[solid12345]

Funny part is there is no Greek deal, the EU national parliaments all have to vote for it and I suspect they won't. This is more kicking the can BS for a few more days.

[NeuroticFish]

In case of Grexit, bitcoin would have reached a new peak, maybe double. Some speculators gave this idea a try.
The virtual gain was huge and the risk was rather small. 9% or less.

Are you pulling numbers out of your rear? ... how is it possible for bitcoin to be Greece's currency when bitcoin itself is not a currency it's an account that has an exchangeable price for it's "Realized Value" like a conversion to USD EUR or CNY ... in this case Greece HAD NO MONEY ... what were they going to do to obtain these "bitcoins" ... pillage and commandeer their citizens bitcoins ... start a war to commandeer other countries bitcoins?? what a joke rationalization...


Side note: clarifying Account for you guys,
Account : Intangible Assets Account ... aka comparable to a commodity note..

You should read and not try to interpret. You'd be more accurate.
I never implied that Bitcoin would EVER get the coin - even an alternate one - for Greece. They would need a government controlled coin, for inflation and with Bitcoin they cannot do this.

The idea was that some speculators could think like this: in case of grexit Greece will go for Drahma (with huge inflation). Euro will also fall. One asset at hand to buy is Bitcoin.

However, I wrote looooong ago that I don't expect a Grexit at this time. But what would be the speculators if they wouldn't try every opportunity, however impossible they looks for me and you?

[TheRealistMassiah1]

In case of Grexit, bitcoin would have reached a new peak, maybe double. Some speculators gave this idea a try.
The virtual gain was huge and the risk was rather small. 9% or less.

Are you pulling numbers out of your rear? ... how is it possible for bitcoin to be Greece's currency when bitcoin itself is not a currency it's an account that has an exchangeable price for it's "Realized Value" like a conversion to USD EUR or CNY ... in this case Greece HAD NO MONEY ... what were they going to do to obtain these "bitcoins" ... pillage and commandeer their citizens bitcoins ... start a war to commandeer other countries bitcoins?? what a joke rationalization...


Side note: clarifying Account for you guys,
Account : Intangible Assets Account ... aka comparable to a commodity note..

You should read and not try to interpret. You'd be more accurate.
I never implied that Bitcoin would EVER get the coin - even an alternate one - for Greece. They would need a government controlled coin, for inflation and with Bitcoin they cannot do this.

The idea was that some speculators could think like this: in case of grexit Greece will go for Drahma (with huge inflation). Euro will also fall. One asset at hand to buy is Bitcoin.

However, I wrote looooong ago that I don't expect a Grexit at this time. But what would be the speculators if they wouldn't try every opportunity, however impossible they looks for me and you?

I think you just fried my brain , I'm checking for a nose bleed right now as I try to logically figure out your statement X_X LOLS (//EndSarcasm)


additional note Greece only accounted for roughly 2% of the euro's annual GDP ... not even a fart in the wind to the Euro so it shouldn't "dramatically drop"  and also you mention "bitcoin as an asset at hand to buy" GREEK citizens couldn't EVEN GET MONEY because they HAD NO MONEY LEFT ... How were they suppose to buy bitcoins? [Insert jerk response here]


... anyways  Cool story bro ...

[Amph]

...its just whales who have control and time the price pumps/dumps to coincide with excitement around these events.

This is true. They're even not necessarily whales. Just a bunch of good traders.

At what point is someone considered a whale anyways?

Loose Definition of a Whale:
The ability to sway a market simply based on your liquidity weight, example current order book average Ex, bitfinex lets say its 3000 bitcoins either direction on the Sell and Buy side, so being a whale on very low liquidity = having 500,000 Usd - $4,000,000+ Usd to sway that market... in my per se case its the ability to sway the market at least a few points in one direction and keep it there with other incoming support.


Side note It only took 14,000 bitcoins to drop from 308 - 284 ... That is a pretty sad realization when you realize that .1% of liquidity control = almost a 6% tumble in TOTAL market cap  which equates to a market cap value loss = $240,000,000 USD loss ....

then any early adopters could perform that, maybe some whales tried to increase the price slowly but then some random early adopter dumped his coin, because he need those for emergencies or something else

certainly not impossble, when you have plenty of people with 50k coins and counting...

[NeuroticFish]

I think you just fried my brain , I'm checking for a nose bleed right now as I try to logically figure out your statement X_X LOLS (//EndSarcasm)


additional note Greece only accounted for roughly 2% of the euro's annual GDP ... not even a fart in the wind to the Euro so it shouldn't "dramatically drop"  and also you mention "bitcoin as an asset at hand to buy" GREEK citizens couldn't EVEN GET MONEY because they HAD NO MONEY LEFT ... How were they suppose to buy bitcoins? [Insert jerk response here]


... anyways  Cool story bro ...

You are a wonderful bag of silliness. Quite entertaining to read  
Euro group fought hard to keep Greece inside not because their GDP, which, as you also stated, means nothing for EU. It's the TRUST. If markets lose TRUST in EUR project, the coin will fall.
About NO MONEY LEFT ... you know, that's way different from NO MONEY. They withdrew BILLIONS of EUR from ATMs. That money didn't vanish. The ones that have it may want to further secure that wealth.

[Torque]

Funny part is there is no Greek deal, the EU national parliaments all have to vote for it and I suspect they won't. This is more kicking the can BS for a few more days.

The ugly truth is that if they have detractors and can't reach an agreement, there will be a "reshuffling" of Parliament that will happen shortly thereafter.  Sacrificial lambs.  Then a new vote that will eventually capitulate and pass.

This is what happens when the overlord banksters are in control of the world.