Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Adrian-x]

some known early adopters are dumping, and many  other adopters/investors/developers are slowly losing faith (one of them speaking), Bitcoin needs another bubble ASAP, bubbles are the only thing keeps Bitcoin ongoing.

I don't believe that for one second.  The lack of bad news != waning interest.

Bitcoin is maturing from an adolescent out-of-control teenager into a mature member of society.

  Following that metaphor I thought we just survived the first trimester and are still in the whom.

[hyphymikey]

So who sells near the bottom of the long term trend line and why?
Besides all the weak hands who think the price will tank because of the auction 
Does someone think that lowering the market price will somehow give them cheaper coins at the auction? Its not like their bids are entered as +/- a certain percentage of market price. Maybe they think they can fool the other bidders by hoping they look at the price and adjust their bids from there. But no bidder is that dumb.

I speculate purely on news and overall phycology/sentiment. This can't be news, and the consensus around here is 50/50 on the auction coins. The only two things I can think of is everyone is waiting for the auction to end, or manipulation is trying to get coins from weak hands.

Any insight from you folks that I might be missing?

[hyphymikey]

Anyone else notice how all the bitcoin high priests and cheerleaders have been conveniently absent for the past couple weeks? The exponential log charts have been tucked into suitcases and the purveyors of these bitcoin pipe dreams are heading onto the next big thing. Makes you wonder... all of us still holding... are we the bag holders afterall?

They actually made their own forum to escape morons like you.

Where is this forum? I would like to see whats going on over there!

[atp1916]

So who sells near the bottom of the long term trend line and why?
Besides all the weak hands who think the price will tank because of the auction  
Does someone think that lowering the market price will somehow give them cheaper coins at the auction? Its not like their bids are entered as +/- a certain percentage of market price. Maybe they think they can fool the other bidders by hoping they look at the price and adjust their bids from there. But no bidder is that dumb.

I speculate purely on news and overall phycology/sentiment. This can't be news, and the consensus around here is 50/50 on the auction coins. The only two things I can think of is everyone is waiting for the auction to end, or manipulation is trying to get coins from weak hands.

Any insight from you folks that I might be missing?

It may just be people moving back into fiat to protect against the possible (but highly unlikely).

This price dip is no sell-off / crash.

[tarmi]

So who sells near the bottom of the long term trend line and why?
Besides all the weak hands who think the price will tank because of the auction 

I wouldnt call a hand that dumps 500 coins weak.

[aminorex]

So who sells near the bottom of the long term trend line and why?

In order of volume:

(1) weak hands/minds, because of fear
(2) bears because of an "annoying as hell" monkey on their back, and hope of a lower price
(3) forced sellers, because of adverse circumstances or bad planning
(4) greedy fudding shorts, because of greed and hope of a lower price

[aminorex]

I'm gonna have to put you on ignore. That monkey nonsense is annoying as hell.

Ignore me, by all means.  But you ignore the monkey at your peril.

[Adrian-x]

So who sells near the bottom of the long term trend line and why?

I thought of selling a few, because I had a dream premonition a little while ago, - "the SR coins were drummed and fro some strange reason we hit $8.50 per bitcoin" I was out of fiat, in my dream, as I had blown it at $640 but felt no regret, as fundamentals were still good.

[ChartBuddy]

Explanation

[JayJuanGee]

some known early adopters are dumping, and many  other adopters/investors/developers are slowly losing faith (one of them speaking), Bitcoin needs another bubble ASAP, bubbles are the only thing keeps Bitcoin ongoing.

Bitcoin days destroyed says differently.

So please shut up.

Hows litecoin doing, btw?

He has definitely been in a FUD spreading mode recently, and since I had NOT really noticed, previously, I cannot comment on whether mmitech was always such a dufous. 

[hyphymikey]

I figured more bots would have sold since the 1W MACD just closed out in the red.

[Krabby]

I figured more bots would have sold since the 1W MACD just closed out in the red.

Is sad day.

[JayJuanGee]

It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

If you were ever going to pay above market for btc, now would be the time to do it.  Some time 5-10 days from now, BTC will put in its lowest daily bottom, and prices will always be higher thereafter.  (Says the monkey, but I will take responsibility this time, because I agree -- and yes, perhaps it is magical thinking.  He is, after all, a magic monkey.)

lol what is this magic monkey that I keep hearing of? I must have missed something many pages ago. Is this some rhesus monkey that you've imprisoned and hooked to electrodes to exploit his clairvoyant talents?

Dude. Lets bet. Any amount up to 100 BTC that they go above market price. Your logic is so irrational, I feel you should be punished for spreading stupidity on these boards. Money where mouth is please.

I tend to agree with you WindJC, yet are you saying that all ten lots are going to go above market rate.  I would think that everyone here realizes that it is likely that all ten lots are NOT going to go to one bidder for the same price... but I tend to believe that all of them are going to go above market rate, yet I would NOT be surprised if one or two lots did NOT.

Someone willing to buy all 30k should be prepared to pay a higher premium, so I think it's highly possible that all coins will be sold to a single entity, all above the market price.

Pretty improbably scenario in my opinion (since there are 10 lots); however, there is nothing wrong with having differing opinions regarding predicting probable outcomes.

[TalkingBit]

So are we all playing lets pay US Marshals as little as we can?

[derpinheimer]

I have officially made my offer for the B block of coins. Hope no one else remembered that it existed, only bid $REDACTED per HAHA

[Raystonn]

Right.  You tied up $200K in deposits to make a $200/coin bid you know you'll never get.  Get real.

[derpinheimer]

Right.  You tied up $200K in deposits to make a $200/coin bid you know you'll never get.  Get real.

I'm only bidding for what they will be crashing to by the end of the year.


Hope to sell for quick profit, otherwise I wait for my, err, target price.

[samsonn25]

People go to auctions to buy things at discount.  Not at narket price.  Not above market price.  Especially sealed bids where there is no rush to immediately beat the guy who just outbid you.

[wiak2]

[JayJuanGee]

You betcha. Peter Todd dumped at LEAST five figures. Dollars, that is.

On a side I wonder how much the core devs are invested personally, out of pure curiosity.
Jeff Garzik publically stated he "only" has 348 BTC which is far less than some speculators here.
I have met another vip core dev in person and I understood he is in the thousands BTC but below 10k.

Gavin has (had last year) more than 20K BTC

Where did you get that from? I asked him long ago if he mined and made a bunch of Bitcoins early on and he said he didn't mine and didn't have many.

It's probably NOT a good idea for publicly known figures in the bitcoin space to be too detailed about their own BTC holdings, unless there is some meaningful or serious questions about their integrity regarding their role in bitcoin... concerning manipulation or something like that.