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superduh
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July 18, 2013, 06:09:49 AM |
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The satoshi dice selloff has started.
And for the first time in quite a few days, mtgox is finally following the downward trend set by bitstamp...
what? noone has even "received" their buyout.. just bots.. as usual.. nothing to see A bot just dumped 1600 BTC?  bots dump a lot more than that (could be a miner too) it's insignificant that someone or something dumped 1600 of coins.. zzzz |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Spekulatius
Legendary
 Offline
Activity: 1022
Merit: 1000
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July 18, 2013, 06:10:26 AM |
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The satoshi dice selloff has started.
And for the first time in quite a few days, mtgox is finally following the downward trend set by bitstamp...
what? noone has even "received" their buyout.. just bots.. as usual.. nothing to see A bot just dumped 1600 BTC? They are getting increasingly pesty these days. |
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Frozenlock
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July 18, 2013, 06:11:06 AM |
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Wow... I would NOT trust a bot with 1000+ BTC.
Especially if it relies on MtGox connection.
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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July 18, 2013, 06:12:04 AM |
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Wow... I would NOT trust a bot with 1000+ BTC.
Especially if it relies on MtGox connection.
Even if someone would, I doubt they would trust it to sell that much at once without human input. |
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superduh
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July 18, 2013, 06:13:26 AM |
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Wow... I would NOT trust a bot with 1000+ BTC.
Especially if it relies on MtGox connection.
Even if someone would, I doubt they would trust it to sell that much at once without human input. people have been doing it for a long time - they are *likely* up quite a bit on their *initial* investment.. so attempting to move the markets is a risky bet but one some are willing to play as it can pay off well with more coin |
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icekiss
Member
Offline
Activity: 70
Merit: 10
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July 18, 2013, 06:16:31 AM |
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The satoshi dice selloff has started.
And for the first time in quite a few days, mtgox is finally following the downward trend set by bitstamp...
what? noone has even "received" their buyout.. just bots.. as usual.. nothing to see What's that got to do with anything? There are enough people around who can anticipate the effect this will have and are frontrunning. I was already all in fiat anyway, but the first thing I did upon seeing the news was pulling my bid (it would have been filled by now otherwise). I am convinced that the BTCs sold by satoshi dice shareholders will crash the market pretty severely. And so are alot of other people. It becomes a self fulfilling prophesy at that point... |
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Coinseeker
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July 18, 2013, 06:18:44 AM |
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Yeah, I find the bot theory really hard to believe....although I'd admit 1600 BTC is not a "sky is falling" moment. Doesn't mean its not coming though.
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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July 18, 2013, 06:20:16 AM |
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Yeah, I find the bot theory really hard to believe....although I'd admit 1600 BTC is not a "sky is falling" moment. Doesn't mean its not coming though.
I do to, and I run a bot. |
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Coinseeker
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July 18, 2013, 06:23:57 AM |
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Yeah, I find the bot theory really hard to believe....although I'd admit 1600 BTC is not a "sky is falling" moment. Doesn't mean its not coming though.
I do to, and I run a bot. Man, sure wish I had a bot.  That would be awesome. |
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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July 18, 2013, 06:25:26 AM |
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It's actually 155k BTC, not 126k if ColdHartMetal is correct. Either way. No more triple digits for 2013. |
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Coinseeker
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July 18, 2013, 06:28:33 AM |
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I'm certainly bearish and I'm just really hearing about this news but why in the world would you think that? I'm not sure I follow the logic that 155k BTC are just going to get dumped on the market. Unless I'm misunderstanding you. I'd venture to guess that most of the selling will come as was just stated, by people who think there will be big selloffs. |
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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July 18, 2013, 06:30:17 AM |
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No, obviously only a fraction will be sold, and only a fraction of those instantly. However, the amount is so large that it's still significant. Also, you're going to see people try and front run them. We may already be seeing that.
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Coinseeker
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July 18, 2013, 06:31:39 AM |
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No, obviously only a fraction will be sold, and only a fraction of those instantly. However, the amount is so large that it's still significant. Also, you're going to see people try and front run them. We may already be seeing that.
Gotcha.  |
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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July 18, 2013, 06:36:04 AM |
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MtGox falls, and the others fall as well, keeping the gap. Only MtGox remains in denial about the 90s.
▲ mtgoxUSD 94.2230
▲ bitstampUSD 87.6500
▲ btceUSD 87.5020
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superduh
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July 18, 2013, 06:37:40 AM |
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look at that.. price goes down 3% OMG OMG OMG sell off..
price goes up 3% nothing. the rally was called when it went up a lot more than 3%
people like to make a lot of noise when things drop. we'll see triple digits this year 100%. 4-digits probably next year
this is nothing. once mtgox clears up their whole banking issues prices will set over $200+
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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July 18, 2013, 06:39:41 AM |
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look at that.. price goes down 3% OMG OMG OMG sell off..
price goes up 3% nothing.
people like to make a lot of noise when things drop. we'll see triple digits this year 100%.
Maybe on MtGox with their monopoly dollars.  this is nothing. once mtgox clears up their whole banking issues prices will set over $200+
Nice delusions. When the banking issue is solved, we can finally have an impulsive drop to <50 because people will be able to actually withdraw, and the MtGox price will no longer be artificially inflated due to devalued mtgoxUSD. |
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Coinseeker
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July 18, 2013, 06:49:44 AM |
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Nice delusions. When the banking issue is solved, we can finally have an impulsive drop to <50 because people will be able to actually withdraw, and the MtGox price will no longer be artificially inflated due to devalued mtgoxUSD.
I think there is some truth to this, although I'm not sure this in and of itself would cause a drop to 50. Long term trends say were headed there anyway but I would expect gox to come more inline with Bitstamp pricing. Just my guess. |
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BitPirate
Full Member
Offline
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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July 18, 2013, 06:51:50 AM |
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No more triple digits for 2013.
Bloody troll! How much have you shorted and @ what price? |
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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July 18, 2013, 06:52:30 AM |
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No more triple digits for 2013.
Bloody troll! How much have you shorted and @ what price? I don't short Bitcoin, and I don't buy puts either, out of principle. It's just not worth it from a risk/reward perspective in my view, and Bitfinex etc. I find untrustworthy. |
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Coinseeker
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July 18, 2013, 06:52:57 AM |
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Damn bot just dumped 5000 BTC. Crazy! |
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