cbeast
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Let's talk governance, lipstick, and pigs.
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December 27, 2014, 05:53:55 AM |
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It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. If it was a sincere effort to dump, it would have sell walls. Instead, they just dump at market. This is starting to feel like a psyops campaign rather than superstitious trading. |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 27, 2014, 06:00:24 AM |
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Brewins
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December 27, 2014, 06:07:56 AM |
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It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. If it was a sincere effort to dump, it would have sell walls. Instead, they just dump at market. This is starting to feel like a psyops campaign rather than superstitious trading. Just Bitpay and other sellers dumping, I guess. No need of theories about nutz guys selling stuff just for the sake of no reason |
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cbeast
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Let's talk governance, lipstick, and pigs.
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December 27, 2014, 06:13:48 AM |
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It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. If it was a sincere effort to dump, it would have sell walls. Instead, they just dump at market. This is starting to feel like a psyops campaign rather than superstitious trading. Just Bitpay and other sellers dumping, I guess. No need of theories about nutz guys selling stuff just for the sake of no reason What kind of business model dumps large amounts at market? |
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BlindMayorBitcorn
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December 27, 2014, 06:22:34 AM |
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It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. If it was a sincere effort to dump, it would have sell walls. Instead, they just dump at market. This is starting to feel like a psyops campaign rather than superstitious trading. Just Bitpay and other sellers dumping, I guess. No need of theories about nutz guys selling stuff just for the sake of no reason What kind of business model dumps large amounts at market? The kind that sees the writing on the wall??  |
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Richy_T
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December 27, 2014, 06:34:48 AM |
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we know we are in sideways when people act like $10 variation in price is super significant
Hah. When I bought in, $10 *was* the price. |
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cbeast
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Let's talk governance, lipstick, and pigs.
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December 27, 2014, 06:36:10 AM |
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It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. If it was a sincere effort to dump, it would have sell walls. Instead, they just dump at market. This is starting to feel like a psyops campaign rather than superstitious trading. Just Bitpay and other sellers dumping, I guess. No need of theories about nutz guys selling stuff just for the sake of no reason What kind of business model dumps large amounts at market? The kind that sees the writing on the wall?? Why wouldn't they just quit if they think bitcoin is failing? It's not a very sound business plan. Buy high and probably sell low? |
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Richy_T
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December 27, 2014, 06:40:58 AM |
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You don´t get the point.
They anticipated $1000 by now.
This led to extreme over-investment in mining equipment.
Major bankruptcies are most likely imminent.
Interesting point, yes. Expected price rise leads to mining bubble, taking funds from BTC investment, stalling actual price rise. Agrees with what I've said previously about expected BTC bubble being diverted to mining bubble. Therefore, must be true  |
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Richy_T
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December 27, 2014, 06:47:51 AM |
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I was wondering which exchanges people around here focus on when watching BTC charts. The Chinese exchanges seem to have the most volume (OK Coin, Huobi).
for some reason people, including the chart buddy, looks for the bitcoinwisdom price. U know, chinese exchanges don't have dollar prices Chartbuddy gets his data directly from Bitstamp (though it seems to be screwed up a good percentage of the time these days) |
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lyth0s
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World Class Cryptonaire
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December 27, 2014, 06:49:01 AM |
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Price "Stability" is so boring.
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Davyd05
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December 27, 2014, 06:49:46 AM |
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Relax good news will not lead to ta or ew traders to.break from there style.
Perhaps last years rise was just an influx of adoption perhaps it was a pump.
Just the fact there is good news means we should be patient enough for new joiners to figure out what's what.
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ChartBuddy
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Activity: 2170
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 27, 2014, 07:00:28 AM |
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galdur
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December 27, 2014, 07:32:06 AM |
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ChartBuddy
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Activity: 2170
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December 27, 2014, 08:00:23 AM |
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noobtrader
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December 27, 2014, 08:21:21 AM |
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Good.
Fewer miners means fewer coins on the market which means higher prices.
No. Learn some fucking crap about Bitcoin before commenting pleasethankyouverymuch fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same. |
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galdur
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December 27, 2014, 08:35:32 AM |
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The highlights of 2014.
There has been a very reliable inverse correlation between increase
in mining equipment and capacity and the price of produce (BTC).
As a result, borrowing produce to dump and cover later at lower price
has been pretty much a 100% sure thing.
The question now is how long will this last ?
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itod
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^ Will code for Bitcoins
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December 27, 2014, 08:56:02 AM |
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It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. It's simple economics: larger adoption means many new people getting the BTC by some form of distribution (tips from BitcoinBowl) and immediately spending them through BitPay to try the functionality, which mostly converts it to fiat right away. We've seen it dozens of times. I doubt they'll buy more BTC then they spend, even if it turns out to be the case it takes some time to push the fresh fiat into the system. Next time you see something like BitcoinBowl open your shorts right away. |
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Brewins
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December 27, 2014, 08:56:43 AM |
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Good.
Fewer miners means fewer coins on the market which means higher prices.
No. Learn some fucking crap about Bitcoin before commenting pleasethankyouverymuch fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same. Not if the few ones left keep buying more hash generator things. If this happens, we will see mining concentrated in the hands of few and will be harder and harder for newcomer have profits(any similarities with current situation is just coincidence) |
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ChartBuddy
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Activity: 2170
Merit: 1776
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December 27, 2014, 09:00:25 AM |
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phoenix1
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December 27, 2014, 09:05:47 AM |
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Good.
Fewer miners means fewer coins on the market which means higher prices.
No. Learn some fucking crap about Bitcoin before commenting pleasethankyouverymuch fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same. Not quite ... block reward remains constant (til the halving), but blocks will be found quicker when hash rate increases in between difficulty adjustments, and slower when it decreases, so emission rate does vary. Difficulty then adjusts according to the new hash rate and the cycle begins again. This is only a significant effect when hash rate is trending very quickly between adjustments (as it was until it stalled this year). Otherwise its just noise. But I believe the cumulative effect has been to bring forward the expected halving date by several months due to the exponential rise in hash rate due to ASICs. Speed of the network (read 'confirmation times') will also we affected by this. Do I get a cookie Richy_T ?  |
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