Vycid
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December 01, 2013, 08:45:18 AM |
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It is possible that we are entering in the same kind of phase now, but if that happens, everybody is just so rich anyway that I rather hedge my bets and do comfortably in both scenarios.
This is entirely reasonable. I've spent many years trying to beat the traditional markets and diversification is not lost on me. Besides, if you can guarantee financial security without significantly diluting your position, that is always the correct decision. Now there should be selling, because the price is objectively high, but many delay the selling until bubble has popped, steepening the decline.
I disagree with this. By no means is the price "objectively high", especially if we're using early 2013 data. The run-up started at ~$15 in January, and the bubble terminated around ~$130 in March. This most recent movement started around ~$140 and we are now around ~$1160. On a comparative basis that makes $1160 seem fair, if not a little on the low side. It's true that the timescale is compressed as compared to January-March, but the newscycle is compressed also. My wild speculation is that we're going to camp out somewhere near this price into early 2014, and then we'll have another wild ride around February.
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neutrinox
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December 01, 2013, 08:54:13 AM |
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Did you guys hear about the kid who showed the bitcoin sign on ESPN? He just received 26 000 $ worth of bitcoins! This is perfect material for a viral news story!
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Crazy
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December 01, 2013, 08:56:11 AM |
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Did you guys hear about the kid who showed the bitcoin sign on ESPN? He just received 26 000 $ worth of bitcoins! This is perfect material for a viral news story!
Look at this -- https://news.ycombinator.com/item?id=6826653Not sure how valid it is, but if it's true it sounds orchestrated.
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4mherewego
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December 01, 2013, 08:58:10 AM |
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Is there any graph to track price movements on the chinese exchanges? http://btckan.com/priceI want these numbers as graphs in one graph...
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Vycid
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December 01, 2013, 08:58:54 AM |
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Did you guys hear about the kid who showed the bitcoin sign on ESPN? He just received 26 000 $ worth of bitcoins! This is perfect material for a viral news story!
Look at this -- https://news.ycombinator.com/item?id=6826653Not sure how valid it is, but if it's true it sounds orchestrated. Honestly, I think it was probably an early adopter (or several) that realized how big a news story it'd be. They should've split up the donations into believable chunks.
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neutrinox
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December 01, 2013, 09:00:06 AM |
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Not sure how valid it is, but if it's true it sounds orchestrated.
It's true that there were some very large donors. But my guess is it went like this: Some whales quickly realized that they could buy huge publicity for bitcoin by sending large amounts to this kid. I do not believe the kid himself was involved in any orchestration.
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macsga
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December 01, 2013, 09:00:23 AM |
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It is possible that we are entering in the same kind of phase now, but if that happens, everybody is just so rich anyway that I rather hedge my bets and do comfortably in both scenarios.
This is entirely reasonable. I've spent many years trying to beat the traditional markets and diversification is not lost on me. Besides, if you can guarantee financial security without significantly diluting your position, that is always the correct decision. Now there should be selling, because the price is objectively high, but many delay the selling until bubble has popped, steepening the decline.
I disagree with this. By no means is the price "objectively high", especially if we're using early 2013 data. The run-up started at ~$15 in January, and the bubble terminated around ~$130 in March. This most recent movement started around ~$140 and we are now around ~$1160. On a comparative basis that makes $1160 seem fair, if not a little on the low side. It's true that the timescale is compressed as compared to January-March, but the newscycle is compressed also. My wild speculation is that we're going to camp out somewhere near this price into early 2014, and then we'll have another wild ride around February. +1 My guess is we're gonna have a new ATH later today (before the weekend is over). Let's see.
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Crazy
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December 01, 2013, 09:02:29 AM |
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Not sure how valid it is, but if it's true it sounds orchestrated.
It's true that there were some very large donors. But my guess is it went like this: Some whales quickly realized that they could buy huge publicity for bitcoin by sending large amounts to this kid. I do not believe the kid himself was involved in any orchestration. Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely.
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ChartBuddy
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December 01, 2013, 09:03:06 AM |
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neutrinox
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December 01, 2013, 09:04:38 AM |
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Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely.
I agree. On one hand, no matter what the motives behind these donations were, the kid did receive a CRAZY amount of money for nothing and that alone is perfect material for a news story.
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beetcoin
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December 01, 2013, 09:05:55 AM |
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Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely.
I agree. On one hand, no matter what the motives behind these donations were, the kid did receive a CRAZY amount of money for nothing and that alone is perfect material for a news story. i should follow the local news van around, and wait for the cameras to start rolling. then i'll run across the screen naked, shouting "i love bitcooooooooin."
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notme
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December 01, 2013, 09:08:02 AM |
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Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely.
I agree. On one hand, no matter what the motives behind these donations were, the kid did receive a CRAZY amount of money for nothing and that alone is perfect material for a news story. i should follow the local news van around, and wait for the cameras to start rolling. then i'll run across the screen naked, shouting "i love bitcooooooooin." Paint a QR code on your chest first
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macsga
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December 01, 2013, 09:08:33 AM |
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Not sure how valid it is, but if it's true it sounds orchestrated.
It's true that there were some very large donors. But my guess is it went like this: Some whales quickly realized that they could buy huge publicity for bitcoin by sending large amounts to this kid. I do not believe the kid himself was involved in any orchestration. Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely. Ethical; VERY overpriced word really. What is ethical? Any ethics is "stored" within one's pants IMHO. Is media ethical? Is the human community ethical? Are you or me? Ethics is scarce these days (and from what I can recall, we haven't seen some pure ethical people since the golden age of Pericles). On the matter now: Any publicity is a good one. So pros for whoever orchestrated this. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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philip2000uk
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December 01, 2013, 09:09:07 AM |
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Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely.
I agree. On one hand, no matter what the motives behind these donations were, the kid did receive a CRAZY amount of money for nothing and that alone is perfect material for a news story. i should follow the local news van around, and wait for the cameras to start rolling. then i'll run across the screen naked, shouting "i love bitcooooooooin." Then the judge says: I'll set your bail at 10 bitcoins
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Vycid
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December 01, 2013, 09:10:09 AM |
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Not sure how valid it is, but if it's true it sounds orchestrated.
It's true that there were some very large donors. But my guess is it went like this: Some whales quickly realized that they could buy huge publicity for bitcoin by sending large amounts to this kid. I do not believe the kid himself was involved in any orchestration. Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely. I believe the kid promised to donate everything beyond 2 BTC to Sean's Outpost, so it's not hard to spin those big transactions as donations. Here: http://www.reddit.com/r/Bitcoin/comments/1rs2zf/on_college_gameday_this_morning_new_way_for/cdqjazphttp://www.reddit.com/r/Bitcoin/comments/1rtcql/over_26000_was_donated_to_the_kid_that_held_up/cdqpbpg
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Crazy
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December 01, 2013, 09:10:12 AM |
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Not sure how valid it is, but if it's true it sounds orchestrated.
It's true that there were some very large donors. But my guess is it went like this: Some whales quickly realized that they could buy huge publicity for bitcoin by sending large amounts to this kid. I do not believe the kid himself was involved in any orchestration. Nah I don't think he is either, I just mean someone with some money to spare saw an opportunity to manipulate the media and they capitalized. Not exactly ethical, and if the media does any research (I know, laughable), they might reveal the news as such. That'd play into their "pump & dump" rhetoric quite nicely. Ethical; VERY overpriced word really. What is ethical? Any ethics is "stored" within one's pants IMHO. Is media ethical? Is the human community ethical? Are you or me? Ethics is scarce these days (and from what I can recall, we haven't seen some pure ethical people since the golden age of Pericles). On the matter now: Any publicity is a good one. So pros for whoever orchestrated this. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Can't argue with that ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I believe the kid promised to donate everything beyond 2 BTC to Sean's Outpost, so it's not hard to spin those big transactions as donations.
Ah I see, didn't know that. Definitely softens the story. Will be interesting to see how it plays out nonetheless. I have a feeling it'll be buried in the shuffle of other news or marginalized to tech-related outlets, though.
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Vycid
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December 01, 2013, 09:15:56 AM |
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I believe the kid promised to donate everything beyond 2 BTC to Sean's Outpost, so it's not hard to spin those big transactions as donations.
Ah I see, didn't know that. Definitely softens the story. Will be interesting to see how it plays out nonetheless. I have a feeling it'll be buried in the shuffle of other news or marginalized to tech-related outlets, though. We'll see. Most editors are sporting a raging Bitcoin boner right now, if the number of articles about that "$7.5M hard drive" is any indication. This is probably an even better story: college kid shows QR code on national TV, money gets sent from all over the country, he donates it to charity.
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Crazy
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December 01, 2013, 09:17:41 AM |
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Most editors are sporting a raging Bitcoin boner right now
Probably due to their position That didn't sound right
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Crazy
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December 01, 2013, 09:21:24 AM |
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I'd actually like to know how many writers that published positive BTC news articles actually own BTC and neglect full disclosure. Curious if that would violate some laws due to conflict of interest. You know things might shift when you get the media doing the pumping for ya.
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philip2000uk
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December 01, 2013, 09:35:46 AM |
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I'd actually like to know how many writers that published positive BTC news articles actually own BTC and neglect full disclosure. Curious if that would violate some laws due to conflict of interest. You know things might shift when you get the media doing the pumping for ya.
what about the ones that have bank accounts and promote banks and have money in tax havens. Oh and also most banks are in a tax have, it's the Square mile called the city of london corporation, that's not even london it's a completely different thing, has different laws and so that's why all the banks are HQ'd there.
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