madmat
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June 24, 2014, 01:36:25 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. |
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ChartBuddy
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June 24, 2014, 02:01:15 PM |
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bananaControl
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June 24, 2014, 02:03:41 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. I will be very disappointed with you if you are not telling us the truth! |
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keithers
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June 24, 2014, 02:47:38 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. I will be very disappointed with you if you are not telling us the truth! It is going to be interesting to see what happens during the auctions. Hell there's a relatively good chance that prices aren't affected at all |
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madmat
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June 24, 2014, 02:51:15 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. I will be very disappointed with you if you are not telling us the truth! It is going to be interesting to see what happens during the auctions. Hell there's a relatively good chance that prices aren't affected at all It depends on the leaks, and it depends if there are price manipulations. Bids are accepted during 12 hours. |
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Richy_T
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June 24, 2014, 02:57:20 PM |
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Welcome to the "Global Slumber Method" where the Bitcoin price sends everyone to sleep.
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Richy_T
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June 24, 2014, 02:59:46 PM |
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It is going to be interesting to see what happens during the auctions. Hell there's a relatively good chance that prices aren't affected at all
I expect this to be the case. A poor outcome of the auction will likely have no effect. A mediocre outcome might give us a bit of a boost but nothing special. I don't believe we're going to see a spectacular outcome but I would be happy to be proven wrong. However, I think the uncertainty of the auction is holding the price back so hopefully normal service will be resumed. |
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ChartBuddy
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June 24, 2014, 03:01:09 PM |
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ShroomsKit
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June 24, 2014, 03:15:31 PM
Last edit: June 24, 2014, 03:36:03 PM by ShroomsKit |
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Maybe you haven't noticed but nobody cares about good news. When some obscure Chinese blog posts an unconfirmed story how a random Chinese bank will ban Bitcoin everybody totally freaks out and dumps everything they can. If that same Chinese bank says Bitcoin is no problem the same people are like who cares. Hell, they'll even dump some more most likely. Any news lately is reason to dump. It's a new thing in the Bitcoin world that started this year. And people are so used to doing this now that it's hard to change this again. We would need months of non stop amazing news. But that's not gonna happen. Every 2 weeks there is something new that makes the price goes down. So all these idiot traders simply say "good news or bad news, i'm not gonna wait and see, i'll just dump right away". |
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ShroomsKit
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June 24, 2014, 03:19:25 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. I wish. But i doubt it. Just the mention of a small action caused huge panic. When the auction is finished and ended well/bullish noone will care. They'll be looking for the next reason to panic sell. There are no events anymore that make the price go up. No amount of good news will make the price go up even 10 dollars. People aren't interested in good news. |
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Torque
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June 24, 2014, 03:31:23 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. I wish. But i doubt it. Just the mention of a small action caused huge panic. When the auction is finished and ended well/bullish noone will care. They'll be looking for the next reason to panic sell. There are no events anymore that make the price go up. No amount of good news will make the price go up even 10 dollars. People aren't interested in good news. Yep, the day the Expedia news came out, the price was at $630. Price didn't budge at all. Then the very next day, wham! A fkn FUD storm about threats of 51% attack (again, every 4-6 months, for years now... ad nauseum), +Stamp FUD, + China FUD, +Bitfinex FUD, all on the same day. And then a bunch of panic selling ensues all the way down to $530, for no good reason at all. And you know what? No one even remembers that now, or if those stupid fears were even warranted. Here's a hint: they weren't. The bitcoin community is, and will continue to be, pathetic, until it puts on its big boy pants and grows the hell up. Stop panic selling over nothing. Otherwise, the bitcoin world hasn't even seen yet what the governments of the world can cook up in regard to media-created FUD, until they feel the need to. |
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ShroomsKit
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June 24, 2014, 03:34:27 PM |
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Fixed. It is last week under 600$, ever. After auction, price is going to skyrocket. I wish. But i doubt it. Just the mention of a small action caused huge panic. When the auction is finished and ended well/bullish noone will care. They'll be looking for the next reason to panic sell. There are no events anymore that make the price go up. No amount of good news will make the price go up even 10 dollars. People aren't interested in good news. Yep, the day the Expedia news came out, the price was at $630. Price didn't budge at all. Then the very next day, wham! A fkn FUD storm about threats of 51% attack (again, every 6 months, for years now... ad nauseum), +Stamp FUD, + China FUD, +Bitfinex FUD, all on the same day. And then a bunch of panic selling ensues all the way down to $530, for no good reason at all. And you know what? No one even remembers that now, or if those stupid fears were even warranted. Here's a hint: they weren't. The bitcoin community is, and will continue to be, pathetic, until it puts on its big boy pants and grows the hell up. Stop panic selling over nothing. Otherwise, the bitcoin world hasn't even seen what the governments of the world can cook up in regard to FUD, until they need to. Exactly, it's just pathetic. |
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dropt
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June 24, 2014, 03:40:00 PM |
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Yep, the day the Expedia news came out, the price was at $630. Price didn't budge at all. Then the very next day, wham! A fkn FUD storm about threats of 51% attack (again, every 4-6 months, for years now... ad nauseum), +Stamp FUD, + China FUD, +Bitfinex FUD, all on the same day. And then a bunch of panic selling ensues all the way down to $530, for no good reason at all. And you know what? No one even remembers that now, or if those stupid fears were even warranted. Here's a hint: they weren't.
The bitcoin community is, and will continue to be, pathetic, until it puts on its big boy pants and grows the hell up. Stop panic selling over nothing. Otherwise, the bitcoin world hasn't even seen what the governments of the world can cook up in regard to media-created FUD, until they feel the need to.
IMO it's mostly just amateur knob day-traders (hello Speculation forum participants!) following the Mantra "he who dumps first, dumps best". And, if it's not that, it's all of the new corporate mines that have popped up. Generally, IMO, they're not interested in Bitcoin other than to load up on fiat, and since these operations are huge they're taking most of the newly mined coins and dumping them on the market for fiat. In years past, the mining base was much more spread out and mining participants, on average, were more intereseted in building BTC reserves than the fiat equivalent. This concept coupled with the fact that at low prices the daily volume was much greater meant that any new coins mined that did make it to market had little effect on the exchange rate. Now, with higher price, lower volume, and corporate mines with no interest in holding BTC you get an ever increasing supply of fresh coins comparative to historical time frames. |
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JorgeStolfi
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June 24, 2014, 03:40:43 PM |
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The full speech by that Deputy Secretary of the People's Bank of China's Survey and Statistics Department is found here: http://www.reddit.com/r/BitcoinMarkets/comments/28rwu9/chinese_central_bank_official_there_is/ It mentions Bitcoin in the third of a list of ten predictions on the impact of internet in the future of money and finance: 三、冲击货币金融主权的概念。在未来，货币金融的主权概念是大大突破的，比特币是有存在空间的。
Third is the impact on the concept of monetary and financial sovereignty. In the future, there will be large breakthroughs in the concept of monetary and financial sovereignty and there is space for Bitcoin to exist. The guy's titlte became "General Secretary of PBoC" in the bitcoin press. Of course.  I don't think that the Chinese traders were much impressed by that. |
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adamstgBit
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June 24, 2014, 03:43:38 PM |
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The full speech by that Deputy Secretary of the People's Bank of China's Survey and Statistics Department is found here: http://www.reddit.com/r/BitcoinMarkets/comments/28rwu9/chinese_central_bank_official_there_is/ It mentions Bitcoin in the third of a list of ten predictions on the impact of internet in the future of money and finance: 三、冲击货币金融主权的概念。在未来，货币金融的主权概念是大大突破的，比特币是有存在空间的。
Third is the impact on the concept of monetary and financial sovereignty. In the future, there will be large breakthroughs in the concept of monetary and financial sovereignty and there is space for Bitcoin to exist. good stuff really cool i can see the moon! but it is FAR away...  |
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elebit
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June 24, 2014, 03:44:57 PM |
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That would imply exchanges trusting each other's IOUs. Can't happen, and rightly so (otherwise one single scam could cause a chain reaction).
That's trivial to solve. How do you think other institutions in society do it? The easiest way is that everyone desposits a sum with a trusted third party, which forms the top limit for IOUs. You could also distribute the third party role on several participants (where several needs to collude to cheat the system), if the trust is otherwise hard to build. But even the easiest notary system would be a giant step up for today's exchanges. |
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Torque
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June 24, 2014, 03:48:41 PM |
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That would imply exchanges trusting each other's IOUs. Can't happen, and rightly so (otherwise one single scam could cause a chain reaction).
That's trivial to solve. How do you think other institutions in society do it? The easiest way is that everyone desposits a sum with a trusted third party, which forms the top limit for IOUs. You could also distribute the third party role on several participants (where several needs to collude to cheat the system), if the trust is otherwise hard to build. But even the easiest notary system would be a giant step up for today's exchanges. Yes, but don't you realize that extending IOUs is exactly how the current, broken fractional reserve banking system works? And is pretty much why Mt Gox. went bankrupt? |
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ChartBuddy
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Activity: 2170
Merit: 1776
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June 24, 2014, 04:00:51 PM |
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MoreFun
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WePower.red
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June 24, 2014, 04:19:07 PM |
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The full speech by that Deputy Secretary of the People's Bank of China's Survey and Statistics Department is found here: http://www.reddit.com/r/BitcoinMarkets/comments/28rwu9/chinese_central_bank_official_there_is/ It mentions Bitcoin in the third of a list of ten predictions on the impact of internet in the future of money and finance: 三、冲击货币金融主权的概念。在未来，货币金融的主权概念是大大突破的，比特币是有存在空间的。
Third is the impact on the concept of monetary and financial sovereignty. In the future, there will be large breakthroughs in the concept of monetary and financial sovereignty and there is space for Bitcoin to exist. good stuff really cool i can see the moon! but it is FAR away... $299.400 away, no more no less   |
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oda.krell
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June 24, 2014, 04:20:19 PM |
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Yep, the day the Expedia news came out, the price was at $630. Price didn't budge at all. Then the very next day, wham! A fkn FUD storm about threats of 51% attack (again, every 4-6 months, for years now... ad nauseum), +Stamp FUD, + China FUD, +Bitfinex FUD, all on the same day. And then a bunch of panic selling ensues all the way down to $530, for no good reason at all. And you know what? No one even remembers that now, or if those stupid fears were even warranted. Here's a hint: they weren't.
The bitcoin community is, and will continue to be, pathetic, until it puts on its big boy pants and grows the hell up. Stop panic selling over nothing. Otherwise, the bitcoin world hasn't even seen what the governments of the world can cook up in regard to media-created FUD, until they feel the need to.
IMO it's mostly just amateur knob day-traders (hello Speculation forum participants!) following the Mantra "he who dumps first, dumps best". [...] [...]
The bitcoin community is, and will continue to be, pathetic, until it puts on its big boy pants and grows the hell up. Stop panic selling over nothing. Otherwise, the bitcoin world hasn't even seen what the governments of the world can cook up in regard to FUD, until they need to.
Exactly, it's just pathetic. I'm still seriously puzzled by this "only sheep and weak hands are selling" mentality... I mean, obviously, panic selling personally doesn't affect you, right? In the sense that "panic selling" somehow forces you, Strong Hand McHolder, to sell as well. So why do you care? Or is it, just by any chance, because you don't like seeing price drop? The promised moon trip, being on hold. Again. So how exactly would trading work, if everyone is a good, strong hand and just holds indefinitely? Har har, all those poor late arrivals... they will have to wait 'til price hits $300k before I will sell my coins to them.Oh. Wait... If nobody sells, ever, how exactly is price going to go to $300k? Hm... maybe we can sell the occasional satoshi, just so that price can still rise, ostensibly. Deal? Deal! |
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