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JorgeStolfi
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June 15, 2014, 11:33:48 PM |
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I think most would disagree, it seems clear that the [USMS SR ] sale is responsible for the recent drop.
I agree that most people here would disagree.  But I still think that the drop comes mainly from China, caused by (rumors of?) further tightening of the clamps around the yuan input channels, and perhaps disappointment about whatever expectations caused the rally two weeks ago. One (admittedly weak) argument is that the price seems to want to go up while the Chinese traders are asleep, but is pulled down once the Chinese pandas wake up. (It seems that there is a handful of Chinese water buffaloes who wake up half an hour earlier and help the price rise, but are then overcome by the pandas. Like, right now.) a large percentage of traders thought the SR sale wouldn't happen, due to the US not wanting to be seen to sell bitcoins (because it would supposedly give them legitimacy).
Is that true? I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place. They must dispose of any property that they seize according to the law. They had neither the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal. Now has the market priced in the sale of DPRs coins? I think the timing will make a difference, because of the limited supply of bitcoin on the markets. The price will drop if/when he is convicted.
Did the court authorize the sale yet? I know that he hasn't exhausted the appeals, but I seem to recall a claim that the court can authorize the auction if he is convicted on first trial, and he will get refunded in USD if the decision is reversed on appeal. Is this true? If not, then the appeals will probably drag on for a year, perhaps? |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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ShroomsKit
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June 15, 2014, 11:41:21 PM |
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Back up to 650 now?
I don't see why not. There was no reason for it to go down in the first place. Just some slightly bad news followed by the usual panic. Now things calmed down and people are like "i better buy back. This wasn't the end of Bitcoin after all". |
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minerpumpkin
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June 15, 2014, 11:46:12 PM |
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May I just come here for a minute and simply say: "Chooo chooo!"? |
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MatTheCat
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June 15, 2014, 11:47:32 PM |
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Back up to 650 now?
I don't see why not. There was no reason for it to go down in the first place. Just some slightly bad news followed by the usual panic. Now things calmed down and people are like "i better buy back. This wasn't the end of Bitcoin after all". Yep...looks like it is taking off......targeting mid $700s in possible final swing of rising wedge formation. |
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tarmi
Legendary
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Activity: 1218
Merit: 1010
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June 15, 2014, 11:53:32 PM |
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 go to sleep! |
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ChartBuddy
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Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 16, 2014, 12:00:57 AM |
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RUEHL
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June 16, 2014, 12:11:32 AM |
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Kupsi
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Activity: 1193
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9.9.2012: I predict that single digits... <- FAIL
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June 16, 2014, 12:15:41 AM
Last edit: June 16, 2014, 12:50:18 AM by Kupsi |
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Objectively, what are our chances of going lower? I can throw in some fiat and buy some coins, but this is probably the last time I will be buying for 6 months or a year. Ignoring the trolls, is there a legitimate chance of hitting $500?
DO NOT take any advice from anybody here! Don't ever ask other people here what to do with your money! I know you see all these lines and charts and mainly bears who act like they know it all but i can guarantee you that not a single person here knows where Bitcoin will go. Every bear here will tell you we 100% sure will see 500 again. That's because they're sad little creatures who do nothing but lie and manipulate because they want the price to go down. The bulls obviously want the price to go up but will be a bit more modest and say we likely won't see 500 again. Either way any info you'll get is coloured and worthless. The fact that you want to invest in Bitcoin means you believe it will be worth more in the future. If you do then you should buy. 500 or 560 is meaningless in the long run if this thing takes off. If you don't think it will take off then don't. Waiting is kinda pointless because again nobody knows what it will do. Yes, don't listen to that advice... Edit: Or this one. Ehh... |
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Krabby
Sr. Member
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Activity: 644
Merit: 250
https://primedao.eth.link/#/
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June 16, 2014, 12:30:17 AM |
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Objectively, what are our chances of going lower? I can throw in some fiat and buy some coins, but this is probably the last time I will be buying for 6 months or a year. Ignoring the trolls, is there a legitimate chance of hitting $500?
DO NOT take any advice from anybody here! Don't ever ask other people here what to do with your money! I know you see all these lines and charts and mainly bears who act like they know it all but i can guarantee you that not a single person here knows where Bitcoin will go. Every bear here will tell you we 100% sure will see 500 again. That's because they're sad little creatures who do nothing but lie and manipulate because they want the price to go down. The bulls obviously want the price to go up but will be a bit more modest and say we likely won't see 500 again. Either way any info you'll get is coloured and worthless. The fact that you want to invest in Bitcoin means you believe it will be worth more in the future. If you do then you should buy. 500 or 560 is meaningless in the long run if this thing takes off. If you don't think it will take off then don't. Waiting is kinda pointless because again nobody knows what it will do. Yes, don't listen to that advice... Listen to all advice given here, it's is 100% factual and we can all predict the future! |
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bitcoinsrus
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June 16, 2014, 12:31:49 AM |
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Objectively, what are our chances of going lower? I can throw in some fiat and buy some coins, but this is probably the last time I will be buying for 6 months or a year. Ignoring the trolls, is there a legitimate chance of hitting $500?
DO NOT take any advice from anybody here! Don't ever ask other people here what to do with your money! I know you see all these lines and charts and mainly bears who act like they know it all but i can guarantee you that not a single person here knows where Bitcoin will go. Every bear here will tell you we 100% sure will see 500 again. That's because they're sad little creatures who do nothing but lie and manipulate because they want the price to go down. The bulls obviously want the price to go up but will be a bit more modest and say we likely won't see 500 again. Either way any info you'll get is coloured and worthless. The fact that you want to invest in Bitcoin means you believe it will be worth more in the future. If you do then you should buy. 500 or 560 is meaningless in the long run if this thing takes off. If you don't think it will take off then don't. Waiting is kinda pointless because again nobody knows what it will do. Yes, don't listen to that advice... Listen to all advice given here, it's is 100% factual and we can all predict the future! |
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Wolf Rainer
Legendary
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Activity: 1960
Merit: 1022
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June 16, 2014, 12:59:12 AM |
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We are back in the game... I almost panic a lot of times.
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 16, 2014, 01:00:58 AM |
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farnsworth7
Newbie
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Activity: 31
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June 16, 2014, 01:09:28 AM |
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I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place. They must dispose of any property that they seize according to the law. They had neither the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal.
Couldn't they just "destroy" them, as they do for illegal stuff like drugs ? (send them to a random address and not store the private key) The fact that they sell them instead of destroying them has a strong meaning. |
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byronbb
Legendary
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Activity: 1414
Merit: 1000
HODL OR DIE
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June 16, 2014, 01:13:16 AM |
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I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place. They must dispose of any property that they seize according to the law. They had neither the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal.
Couldn't they just "destroy" them, as they do for illegal stuff like drugs ? (send them to a random address and not store the private key) The fact that they sell them instead of destroying them has a strong meaning. Selling them is a no-brainer. The US government destroying $16m of a saleable asset would be pretty outrageous to a lot of people. <tinfoilhat>The drugs go to the CIA and they get the money back quietly.</tinfoilhat> |
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BTCfan1
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June 16, 2014, 01:15:28 AM |
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595 wall gone
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JorgeStolfi
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June 16, 2014, 01:27:32 AM |
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Couldn't they just "destroy" [the SR bitcoins], as they do for illegal stuff like drugs ? (send them to a random address and not store the private key)
The fact that they sell them instead of destroying them has a strong meaning.
Bitcoins by themselves were never declared illegal, and by allowing trade etc the USG has already made that clear. Moreover the IRS has already declared them property with value (hence taxable), so they could not destroy them -- they would be destroying valuable public property. That is a point that people seem to miss: the philosophy behind govenment auctions. Any seized property belongs, by right, to the US citizens as a whole; the government is supposed to be merely its custodian. The sale of seized property exchanges it for dollars; these dollars then belong to the US citizens as a whole, and therefore are collected by the Treasury or other government branch, suposedly to be used for the public good. The government's motivation for exchanging property for dollars is that dollars are easier to manage and use rationally than random property. The exchange has to be done by public auction to ensure that no citizen gets an undue advantage over other citizens. |
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BBmodBB
Full Member
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Activity: 154
Merit: 100
BTC = FREEDOM IS OUR ONLY HOPE!
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June 16, 2014, 01:35:43 AM |
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I would think that anyone who knows a little about how the U. S. Government works would have guessed quite accurately when and how the auction would take place. They must dispose of any property that they seize according to the law. They had neither the choice nor the motivation to keep the coins, trade with them, or sell them in a private deal.
Couldn't they just "destroy" them, as they do for illegal stuff like drugs ? (send them to a random address and not store the private key) The fact that they sell them instead of destroying them has a strong meaning. ^the guvnment destroying drugs? *thats news to me! LOL =) |
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