Butterfly Crash

[SlaveInDebt]

The people waiting for BFL's product aren't holding coins. BFL isn't holding coins. Smart miners don't hold coins, they sell immediately to buy more hardware or pay for electricity.

Who's going to dump again? Did someone say "strong hands"? People like me? Funny.

You might have a few speculators who try to take advantage of the news and try their hand at manipulation. I don't think the news would be strong enough to warrant any notable change in the market. BFL isn't the only game in town.

According to the OP, if they deliver we should see massive buying? That makes about as much sense, which is very little.

This thread seems like wishful thinking for someone who is short. Good luck guys.

This guy too. Need a beer? pm.

[molecular]

How far will the price fall when Butterfly Labs stops "customer service" and leaves the country?  Will we see the same magnitude as the Pirate Crash?

Please explain why it would crash.

They say BFL owner is criminal in past

So if someone is criminal in past the market crashes?

[molecular]

How far will the price fall when Butterfly Labs stops "customer service" and leaves the country?  Will we see the same magnitude as the Pirate Crash?

Please explain why it would crash.

Speculators dumped coins when the Pirate scam was confirmed so it seems plausible this might happen when this scam is confirmed.

Speculators dumped because Pirate had a lot of coins to dump. Butterfly labs don't have the coins.

What do you think will those miners do who still have their coins from back before the big rise and who though they could dominate the game for another 4 years? It's not the speculators you ought to be concerned about.
It's the seemingly strong hand who might get so frustrated that they turn to drastic actions.

I think that's a minority. Others will still want coins (can't mine with non-existing ASIC), so they might resort to buying them.

I still fail to see the connection... bitcoin can continue to use GPU if no asics are delivered.

I don't get it: "BIG SCAM HAPPENED ABUSING BITCOIN COMMUNITY!" => "SELL ALL COINS!" just doesn't compute.

[FreeMoney]

It'll have about as much impact as an actual butterfly crash.

[SlaveInDebt]

It'll have about as much impact as an actual butterfly crash.

http://youtu.be/BZpUp4Tl-1s

[ElectricMucus]

I don't get it: "BIG SCAM HAPPENED ABUSING BITCOIN COMMUNITY!" => "SELL ALL COINS!" just doesn't compute.

It's accumulative. Of course none of bitcoin or it's infrastructure would be affected it doesn't have to.
If anything would have to be learned from previous selloffs it is that it's mainly a publicity issue.

I also would like to point you to my signature, it demonstrates the thought process of not only the general public but also the people who are into bitcoin not because of principles but of profits.

[naima53]

The collapse of the BFL can only lead to an increase in prices of coins (canceled boom-Mining), see, everything is going according to plan. IMHO


https://bitcointalk.org/index.php?topic=116994.0

[johnwhitestar]

The collapse of the BFL can only lead to an increase in prices of coins (canceled boom-Mining), see, everything is going according to plan. IMHO


https://bitcointalk.org/index.php?topic=116994.0

I agree, the pirateat40 crash was caused by the false believe that he would pay back all he was holding and promising, which were a huge amount of 500K. The collapse of BFL will cease the false believe that the price of bitcoin is about to crash (because of the always very "eminent" release of ASICS, since months). So once it's clear there is no ASICS existing in the nature the price of BTCs will go up where it should be already (about 22$ for BTC, from my point of view)

[lucif]

In any case we may see a dump. Either from asic adepts which will try to cover credits, or from GPU miners that will quit biz due to asic success.

Your logic blows, remember the production of btc remains the same regardless all you are looking at it is possible sellers trying to get back a quick ROI. They will be there but only due to ignorance and fear mongers like you.

Yup. Let's say, I used to fuckup someone here for 10k btc. So what? I don't ask money and don't post pics of my fake family proving I'm not scammer. Hey ppl, forget my police photo, just give a money. Hehe.

So where is hashrate?

[mccorvic]

If BFL does really show up at CES that would be interesting to me. I don't have a BFL preorder and I don't really think the outcome of whatever happens will actually be that big a deal, but showing up at a big conference doesn't really scream "we're about to scam everyone!" to me.

[lucif]

If BFL does really show up at CES that would be interesting to me. I don't have a BFL preorder and I don't really think the outcome of whatever happens will actually be that big a deal, but showing up at a big conference doesn't really scream "we're about to scam everyone!" to me.

Yeah, https://forums.butterflylabs.com/announcements/539-butterfly-labs-appear-ces-convention-2.html#post8581

[ElectricMucus]

The collapse of the BFL can only lead to an increase in prices of coins (canceled boom-Mining), see, everything is going according to plan. IMHO


https://bitcointalk.org/index.php?topic=116994.0

I agree, the pirateat40 crash was caused by the false believe that he would pay back all he was holding and promising, which were a huge amount of 500K. The collapse of BFL will cease the false believe that the price of bitcoin is about to crash (because of the always very "eminent" release of ASICS, since months). So once it's clear there is no ASICS existing in the nature the price of BTCs will go up where it should be already (about 22$ for BTC, from my point of view)

You are both not gullible enough to preorder with BFL yet not sceptical enough to know that get-rich-quick isn't something that comes when you want it.

[johnwhitestar]

The collapse of the BFL can only lead to an increase in prices of coins (canceled boom-Mining), see, everything is going according to plan. IMHO


https://bitcointalk.org/index.php?topic=116994.0

I agree, the pirateat40 crash was caused by the false believe that he would pay back all he was holding and promising, which were a huge amount of 500K. The collapse of BFL will cease the false believe that the price of bitcoin is about to crash (because of the always very "eminent" release of ASICS, since months). So once it's clear there is no ASICS existing in the nature the price of BTCs will go up where it should be already (about 22$ for BTC, from my point of view)

You are both not gullible enough to preorder with BFL yet not sceptical enough to know that get-rich-quick isn't something that comes when you want it.

[naima53]

The collapse of the BFL can only lead to an increase in prices of coins (canceled boom-Mining), see, everything is going according to plan. IMHO


https://bitcointalk.org/index.php?topic=116994.0

I agree, the pirateat40 crash was caused by the false believe that he would pay back all he was holding and promising, which were a huge amount of 500K. The collapse of BFL will cease the false believe that the price of bitcoin is about to crash (because of the always very "eminent" release of ASICS, since months). So once it's clear there is no ASICS existing in the nature the price of BTCs will go up where it should be already (about 22$ for BTC, from my point of view)

You are both not gullible enough to preorder with BFL yet not sceptical enough to know that get-rich-quick isn't something that comes when you want it.

oh, yes 

[DoomDumas]

The people waiting for BFL's product aren't holding coins. BFL isn't holding coins. Smart miners don't hold coins, they sell immediately to buy more hardware or pay for electricity.

Who's going to dump again? Did someone say "strong hands"? People like me? Funny.

You might have a few speculators who try to take advantage of the news and try their hand at manipulation. I don't think the news would be strong enough to warrant any notable change in the market. BFL isn't the only game in town.

According to the OP, if they deliver we should see massive buying? That makes about as much sense, which is very little.

This thread seems like wishful thinking for someone who is short. Good luck guys.

+1

Completely agree, I dont see any link between BFL failing and the price of bitcoins.  There have been few bad news in 2012 that did'nt affect the price at all !

If someone is short on bitcoin, the person did'nt understood the power of bitcoin at all !

[cypherdoc]

The people waiting for BFL's product aren't holding coins. BFL isn't holding coins. Smart miners don't hold coins, they sell immediately to buy more hardware or pay for electricity.

Who's going to dump again? Did someone say "strong hands"? People like me? Funny.

You might have a few speculators who try to take advantage of the news and try their hand at manipulation. I don't think the news would be strong enough to warrant any notable change in the market. BFL isn't the only game in town.

According to the OP, if they deliver we should see massive buying? That makes about as much sense, which is very little.

This thread seems like wishful thinking for someone who is short. Good luck guys.

+1

Completely agree, I dont see any link between BFL failing and the price of bitcoins.  There have been few bad news in 2012 that did'nt affect the price at all !

If someone is short on bitcoin, the person did'nt understood the power of bitcoin at all !

Amen.

[johnwhitestar]

The collapse of the BFL can only lead to an increase in prices of coins (canceled boom-Mining), see, everything is going according to plan. IMHO


https://bitcointalk.org/index.php?topic=116994.0

I agree, the pirateat40 crash was caused by the false believe that he would pay back all he was holding and promising, which were a huge amount of 500K. The collapse of BFL will cease the false believe that the price of bitcoin is about to crash (because of the always very "eminent" release of ASICS, since months). So once it's clear there is no ASICS existing in the nature the price of BTCs will go up where it should be already (about 22$ for BTC, from my point of view)

You are both not gullible enough to preorder with BFL yet not sceptical enough to know that get-rich-quick isn't something that comes when you want it.

oh, yes  

There is no evidence that the market adjusted itself in advance to the recent halving. I'd rather consider it's not, and that's why the price is going up now. If the mathematics are not an opinion, the price of btc must reach 22$, sooner or later. The only reason it hasn't yet are all this rumours about ASICS and the Christmas pause the main players of the market has done.
Make sense?

[the_thing]

Although I shouldn't be saying this, because I'm holding mah btcs, I have to say : guys, you're fucking stupid.

Some of the you claim to not see any link between potentional BFL failure scam and a price crash. You obviously don't understand how markets work. Trust is the single most important thing on financial markets. If people are upset that they got scammed (again!), they quickly get the feeling that bitcoin is doomed. Yes, it is strongly exaggerated, but investors tend to exaggerate. Also, since bitcoin is an emerging market it needs new investments. Bad publicity = close to no new investments.

And before you start saying : 'hurr durr, real life scams don't make dollar price fall' let me say that you can't compare bitcoin to dollar.

Also, for those of you who say that bad news in 2012 didn't affect the price at all, please go see a doctor. There's something wrong either with your memory or eyes.

If When BFL managers hit the road with gullible people's money in their pockets, the price is going to go down for at least a few days. The only reason why I'm holding btcs right now is to exploit the recent discrepancy between Bitstamp and MtGox prices.

[mccorvic]

Although I shouldn't be saying this, because I'm holding mah btcs, I have to say : guys, you're fucking stupid.

Some of the you claim to not see any link between potentional BFL failure scam and a price crash. You obviously don't understand how markets work. Trust is the single most important thing on financial markets. If people are upset that they got scammed (again!), they quickly get the feeling that bitcoin is doomed. Yes, it is strongly exaggerated, but investors tend to exaggerate. Also, since bitcoin is an emerging market it needs new investments. Bad publicity = close to no new investments.

And before you start saying : 'hurr durr, real life scams don't make dollar price fall' let me say that you can't compare bitcoin to dollar.

Also, for those of you who say that bad news in 2012 didn't affect the price at all, please go see a doctor. There's something wrong either with your memory or eyes.

If When BFL managers hit the road with gullible people's money in their pockets, the price is going to go down for at least a few days. The only reason why I'm holding btcs right now is to exploit the recent discrepancy between Bitstamp and MtGox prices.

I don't say this often, nor lightly but...

Cool story, bro.

[the_thing]

I don't say this often, nor lightly but...

Cool story, bro.

Yeah, that's exactly what people said when the thinking minority warned them about Pirate.