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SnokkomBTC
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November 19, 2014, 01:23:19 PM |
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 Would be nice to see this develop in the next couple of hours or so. That would be nice.  |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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NotLambchop
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November 19, 2014, 01:24:04 PM |
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Silkroad was accumulating Bitcoins ? What does that even mean ? ...
You know the seized coin US government is auctioning off? That's what it means.  |
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NotLambchop
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November 19, 2014, 01:28:21 PM |
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For my judgement, he and his track record can (and should) be respected.
Though his Bitcoin "investment" is still chuckle-worthy... Edit: On second thought, maybe he could turn it into a spectacular tax write-off stratagem? |
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jonoiv
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November 19, 2014, 01:28:38 PM |
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Branson is also aware of the auction, and has been tweeting about bitcoin this week. I hope there's a bidding war  |
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madmat
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Activity: 966
Merit: 1000
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November 19, 2014, 01:36:26 PM |
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Would be nice to see this develop in the next couple of hours or so. Could you please give a link to the pattern we see in this image ? |
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octaft
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November 19, 2014, 01:38:10 PM |
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For wikipedia, what about his "track record" listed there should I be impressed by? For the second one, I tend to disregard information about a person listed on a site that person has control over. |
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madmat
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Activity: 966
Merit: 1000
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November 19, 2014, 01:41:46 PM |
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Yes, candlestick pattern. Thanks a lot for that. Bitcoinwisdom is my favorite website. I have always three bitcoinwisdom tabs opened: huobi, bitstamp and kraken (i am french ) |
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hdbuck
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Activity: 1260
Merit: 1002
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November 19, 2014, 01:46:18 PM |
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Yes, candlestick pattern. Thanks a lot for that. Bitcoinwisdom is my favorite website. I have always three bitcoinwisdom tabs opened: huobi, bitstamp and kraken (i am french ) vive la France ^^  |
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jonoiv
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November 19, 2014, 01:48:45 PM |
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Yes, candlestick pattern. Thanks a lot for that. Bitcoinwisdom is my favorite website. I have always three bitcoinwisdom tabs opened: huobi, bitstamp and kraken (i am french ) I'm always on wisdom too. although I don't trust it 100%. I'm English but don't hold it against me  |
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madmat
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Activity: 966
Merit: 1000
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November 19, 2014, 01:49:15 PM |
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.... Bitcoinwisdom is my favorite website. I have always three bitcoinwisdom tabs opened: huobi, bitstamp and kraken (i am french ) vive la France ^^ I should avoid telling i am french  |
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hdbuck
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Activity: 1260
Merit: 1002
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November 19, 2014, 01:51:31 PM |
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.... Bitcoinwisdom is my favorite website. I have always three bitcoinwisdom tabs opened: huobi, bitstamp and kraken (i am french ) vive la France ^^ I should avoid telling i am french although it says it just under your nick |
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madmat
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Activity: 966
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November 19, 2014, 01:54:16 PM |
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I'm always on wisdom too. although I don't trust it 100%.
Bitcoinwidsom is really good, i think it is the best exchange viewer, but it could be a few seconds late, so you have to be careful when you buy or sell at market price. I'm English but don't hold it against me I am happy to speak english here, this is the only thing i do to maintain my english level these days. I specified i am french to explain why i display kraken price. |
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JorgeStolfi
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November 19, 2014, 01:57:34 PM |
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Whoa, no need to get upset.... I don't knwo what you though I was implying... Silkroad was accumulating Bitcoins ? What does that even mean ? Isn't that the idea of running a business?! Do you say of all other businesses that they are accumulating USD?
The raid found ~30'000 BTC in the server and ~150'000 BTC in Ross's laptop. Those were presumably the proceeds of fees from hosting businessess on SilkRoad. Those 180'000 BTC were kept away from the market; and part of them, at least, must have been bought by SR customers on the open market. So Ross was obviously accumulating. I would even guess that he had been holding almost all the bitcoins that he got. Drapers coins moved, but guess what. Thanks to the miracle that is the blockchain fudsters only need to click their mouse once and they can see that they have just been moved to another address. I can think of 101 reasons to do this.
Well, one of those 101 is to transfer them to a new owner; another is to deposit them on an exchange... Did you miss the article where he says he will bid again? I think your 100% wrong with the last assertion, if anything experience tells you that bidding below market just won't cut it if you want to win the coins.
Most people who enter a commodity auction do not want to get the item at any cost, they want to make a good deal; which almost always means buying it below market price. For the reason already stated, I strongly suspect that all the bets in the previous auction, including Draper's, were below the market price at the time (600$/BTC). I expect that the same will happen in this auction. 33% paper loss is roughly $6 mill. Thats chump change to a billionaire. Especially one who has said again recently he still believes it could go to 10k.
Billionaires do not become so by not minding the loss of 6 millions. Any one who owns a few thousand BTC will say that it will surely go to the moon one day. |
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ChartBuddy
Legendary
 Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 19, 2014, 02:01:15 PM |
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NotLambchop
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November 19, 2014, 02:02:37 PM |
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Messrs Branson and Draper never lie and are always right.  ~Your Beneficent Reptilian Overlords |
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oda.krell
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November 19, 2014, 02:09:00 PM |
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Tim Draper is holding (so he says; although his coins moved recently, it seems). Given his experience (~33% paper loss so far), the next auction winner may be a speculator who buys substantially below market to sell right away, possibly on the markets.
People (the bearish side of the forum, I mean) said exactly the same thing last time. That'd it be turned into arb profit right away (which was and is plausible, of course. iirc correctly, there was even a lady from some bank registered that *did* specialize in arb ^_^). Didn't work out that way. We don't know the exact price that the lots took in last time, but probably neither drastically above nor below market. Not drastically below, because one guy got them all, not drastically above, because the premium to get them all in one, counter party risk free lot is there, but probably not so large that it warrants, say, doubling market price. All of the above holds this time again. Arb opportunity still exists, but requires getting the coins well below market. Will that happen? I strongly doubt it. Renewed volume across all exchanges, and several large buys of Secondmarket during the last weeks lead me to think the current price level is maybe not "stable" (nothing is ever stable in the banana republic of Bitcoin), but that it is at least as tempting to buy in at the current level than it was at the level during the previous auction, and probably more so. |
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NotLambchop
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November 19, 2014, 02:11:02 PM |
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"Trouble started when people began speculating that the value of Bitcoin would rise, thereby raising the demand for Bitcoin and making the value-rise a self-fulfilling prophesy. ... Bitcoin is not a deliberate Ponzi." If World Bank has ever made claims to the contrary, please cite. |
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