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

[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.

[bigasic]

Don't know if anyones mentioned this or not, but maybe all the buying that would normally be taking place right now is on hold because they are waiting to see if they win their bid, if they don't they will go back to buying. So, if im right, that means after the bidding is done, we will see a massive spike because the big buyers will be back to buying and not trying to win that bid that costs millions of dollars.

[derpinheimer]

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.

To be fair, buying 30k BTC is not possible at market price.. so bidding at market or slightly above IS a discount.

[JayJuanGee]

So guys, 27th June.. we learn that the coins sold well above market, we should see a price to $650+ within hours after confirmation? And, on the other side (well below market) we should see a drop to $545 or less within hours after confirmation.

But what about the case where we dont know the results? Down? Up? We all know this market never responds to nothing by doing nothing.

I'm sure that several of the various winners are going to want to inform people about the price that they paid.  I doubt that they would be restricted from such publicity, after they have won.

So the marshals forgot to mention if or how and when they will announce the result? Well that's depressing (for the bitcoin price).

With the government there should be some additional transparency, and announcement, but it seems that "ought" versus "is" are two different stories.  Hopefully, the parties themselves are NOT restricted from announcing what they did or if they won and at what price.

[adamstgBit]

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.

given current market conditions and current events i wouldn't be surprised to hear a block went for as much as 140% over spot. but yes i agree probably  most will sell for some discount, how much of a discount we will never know, doesn't matter, this kind of OTC sale happens often, this might be the biggest one at these price levels, maybe not idk... I see everyone thinking about the sale, market trying to "price in" the FBI coins and its silly, time to buy.