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Author Topic: Almost one per cent of the bigcoins in circulation were released today!  (Read 1816 times)
YoYa
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June 11, 2011, 06:56:06 PM
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So the news is the fall......but the real good news is that one of the top ten in the rich list has relinquished their holdings and let their coins run free in the bitcoin economy!!! Now those coins rest in the hands of hundreds of individuals who will hopefully do more with them then hoard them. We've just had a bitcoin stimulus, may our economy be all the better for it.

Liquidity is good!

That is all.
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hamdi
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June 11, 2011, 06:57:57 PM
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release of 1% causes a 110% price drop....

YoYa
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June 11, 2011, 06:59:38 PM
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It's a rare event, events precipitate falls, the gains from the increased distribution will outweigh the fall.   Cool
finnthecelt
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June 11, 2011, 06:59:44 PM
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release of 1% causes a 110% price drop....

The majority of them will be bought and held. Gresham's law.

Aka, nowhere to spend them yet!!
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June 11, 2011, 07:00:28 PM
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release of 1% causes a 110% price drop....
Check your math, a 110% drop would mean the price went negative.

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k
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June 11, 2011, 07:02:40 PM
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release of 1% causes a 110% price drop....
Check your math, a 110% drop would mean the price went negative.

yeah dropped so far they're paying people to take them. where can I sign up Grin
Jaime Frontero
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June 11, 2011, 07:03:37 PM
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release of 1% causes a 110% price drop....
Check your math, a 110% drop would mean the price went negative.

AIIYYYEEEE!

you mean people will pay me to take their Bitcoin?

bring it!
Man From The Future
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June 11, 2011, 07:04:30 PM
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Where can I get bigcoins? What's their exchange rate? Can I mine them? ;P

Am I paid 2.1 dollars every time I get one because of the negative exchange rate, fi it is relative to BTC?
Jaime Frontero
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June 11, 2011, 07:06:42 PM
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Where can I get bigcoins? What's their exchange rate? Can I mine them? ;P

Am I paid 2.1 dollars every time I get one because of the negative exchange rate, fi it is relative to BTC?

nope.  you have to earn them.

and all this time you thought the men in porn movies didn't get paid as well as the women...
Synaptic
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June 11, 2011, 08:10:40 PM
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release of 1% causes a 110% price drop....

Pretty sure he meant -110% growth within the last 48 hrs, not total value...
imperi
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June 11, 2011, 08:43:45 PM
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It's percentage so you have to multiply by 0.01, so he meant 1.1BTC drop.
gigitrix
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June 11, 2011, 08:45:39 PM
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release of 1% causes a 110% price drop....
Not in the slightest. Probably just added a little bit to this cyclical correction.
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June 11, 2011, 08:53:19 PM
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Over 20% of all existing bitcoins exchanged hands in the past 24 hrs!

Total BTC   6,506,200 BTC

Bitcoins sent
last 24h
1,395,579.13 BTC
bitcoinminer
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June 11, 2011, 09:26:48 PM
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release of 1% causes a 110% price drop....

Check that math... $20 minus 110 percent equals... negative $22.

$10->$20 = 100% increase
$20->$10 = 50% decrease

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
imperi
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June 11, 2011, 09:28:14 PM
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release of 1% causes a 110% price drop....

Check that math... $20 minus 110 percent equals... negative $22.

$10->$20 = 100% increase
$20->$10 = 50% decrease

True, but you forgot to mention the assumption that you are only dealing in base 10.
RandyMarsh
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June 11, 2011, 09:29:05 PM
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release of 1% causes a 110% price drop....

Thats almost literally the most retarded thing i've ever heard...

Stan?! STAN?!?!
aahzmundus
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June 11, 2011, 09:33:18 PM
 #17

Over 20% of all existing bitcoins exchanged hands in the past 24 hrs!

Total BTC   6,506,200 BTC

Bitcoins sent
last 24h
1,395,579.13 BTC

Not likely... you could find out if that is true looking at the blockchain, but I imagine far less then 20% changed hands multiple times as people thought they were buying up at the bottom out.  There is good money to be made here as some people fall to fear, and the price drops farther then it should.  If only I had some money available to buy in now!

finnthecelt
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June 11, 2011, 09:54:01 PM
 #18

Over 20% of all existing bitcoins exchanged hands in the past 24 hrs!

Total BTC   6,506,200 BTC

Bitcoins sent
last 24h
1,395,579.13 BTC

Not likely... you could find out if that is true looking at the blockchain, but I imagine far less then 20% changed hands multiple times as people thought they were buying up at the bottom out.  There is good money to be made here as some people fall to fear, and the price drops farther then it should.  If only I had some money available to buy in now!

Farther than it should? What's the floor on this? Where should it be? It'll take awhile before the price actually stabilizes and finds a trading range.
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