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Hfertig
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July 24, 2014, 12:19:35 PM |
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Bitcoin is going down and nobody knows why. Normally there were always some news we could blame but this dump is just ridiculous. IMO people saw somebody dumping, have no idea why and are doing the same.
No one can ever tell why, but there were enough indications that we will be going down.... Why are people surprised ? |
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roslinpl
Legendary
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Activity: 2212
Merit: 1199
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July 24, 2014, 12:21:57 PM |
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Bitcoin is going down and nobody knows why. Normally there were always some news we could blame but this dump is just ridiculous. IMO people saw somebody dumping, have no idea why and are doing the same.
No one can ever tell why, but there were enough indications that we will be going down.... Why are people surprised ? Going down? This is just a little drop while the price is fracturing. On those little ups and downs traders can earn a profit :-) |
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dreamspark
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July 24, 2014, 12:22:15 PM |
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Could the dumps be related to the ethereum ipo launch?
In what sense ? I dont see how the two could be at all linked ? The IPO was paid in BTC. The recipient could be dumping them all on an exchange. Seems unlikely though. Surely you could look at the wallet that the IPO funds were sent to ? |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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July 24, 2014, 12:22:38 PM |
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Bitcoin is going down and nobody knows why. Normally there were always some news we could blame but this dump is just ridiculous. IMO people saw somebody dumping, have no idea why and are doing the same.
No one can ever tell why, but there were enough indications that we will be going down.... Why are people surprised ? I'll be surprised if it doesn't recoil like it at the end (or beginning) of every cycle. |
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Mervyn_Pumpkinhead
Legendary
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Activity: 876
Merit: 1000
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July 24, 2014, 12:22:50 PM |
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This really saddens me because I thought you were a balanced and open minded individual. Unfortunately, even if you don't belong in the same class of idiots like igorr, mah87 and co., I will have to put you on ignore. There are VERY few things worse in this world than overzealous religious cultists.
Yeah, that's what balanced and open minded individuals prefer to do as a first choice, when they don't agree with someone. They put that someone on ignore!  |
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fred1111
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July 24, 2014, 12:23:13 PM |
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Could the dumps be related to the ethereum ipo launch?
The IPO was payed in BTC. The recipient could be dumping them all on an exchange. Seems unlikely though. Ah yeah, that could make sense. I was thinking: If they acquire a lot of BTC, the supply actually would go down so there'd be no reason for the price to drop. But you've got a valid point there - although you're right that it's not that probable! they aren't dumping them. they have all the received btc in a multi-sig wallet address. They will dump them. The market is anticipating that. |
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Teppino
Full Member
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Activity: 139
Merit: 100
bitcoin hates walls
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July 24, 2014, 12:23:48 PM |
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Bitcoin is going down and nobody knows why. Normally there were always some news we could blame but this dump is just ridiculous. IMO people saw somebody dumping, have no idea why and are doing the same.
Bitlemmings  |
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ImI
Legendary
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Activity: 1946
Merit: 1019
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July 24, 2014, 12:27:34 PM |
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minerpumpkin
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July 24, 2014, 12:29:23 PM |
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Bitcoin is going down and nobody knows why. Normally there were always some news we could blame but this dump is just ridiculous. IMO people saw somebody dumping, have no idea why and are doing the same.
No one can ever tell why, but there were enough indications that we will be going down.... Why are people surprised ? It's not like this hasn't happened before. Dumps for no apparent reason... Well it's just another day in the big and volatile bitcoin world! |
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marcus_of_augustus
Legendary
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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July 24, 2014, 12:30:45 PM |
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Could the dumps be related to the ethereum ipo launch?
The IPO was payed in BTC. The recipient could be dumping them all on an exchange. Seems unlikely though. Ah yeah, that could make sense. I was thinking: If they acquire a lot of BTC, the supply actually would go down so there'd be no reason for the price to drop. But you've got a valid point there - although you're right that it's not that probable! they aren't dumping them. they have all the received btc in a multi-sig wallet address. They will dump them. The market is anticipating that. Wrong ... it is net zero, since people that want to buy ETH who do not currently hold BTC are now buying BTC in order to buy ETH so creating additional BTC demand. On quite good authority ethereum are not selling BTC in large quantities but only as/when needed ... the effect is much larger psychological effect whereby the market is now cognizant of a new competitor on the block, simple as that. |
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greenlion
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July 24, 2014, 12:32:14 PM |
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It's doubtful that market movement has anything to do with ether ipo dumping, the scale of the ipo so far is only around $40,000 worth of bitcoin. Ethereum does have a "FUD" element about it though as far as market sentiment, because the speculative motivation for purchasing is the greatest altcoin pump-and-dump script in history, whereby they intend to solve every single problem or limitation inherent to Bitcoin with a fresh general-purpose system that doesn't exist yet or may not even ever be technologically possible.
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barbs
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July 24, 2014, 12:32:33 PM |
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This market has become a joke.
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magicmexican
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July 24, 2014, 12:32:58 PM |
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 These lines are overrated and almost always are useless |
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kodtycoon
Legendary
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Activity: 1568
Merit: 1002
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July 24, 2014, 12:34:00 PM |
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well atleast we have the red candles on macd same as before past bubbles.. good sign?
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minerpumpkin
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July 24, 2014, 12:34:44 PM |
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Damnit, I don't know whether this rebound is strong enough to bring us back to a safe level. As of now it only looks like we'll be falling deeper. Not good.
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
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July 24, 2014, 12:35:15 PM |
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It's doubtful that market movement has anything to do with ether ipo dumping, the scale of the ipo so far is only around $40,000 worth of bitcoin. Ethereum does have a "FUD" element about it though as far as market sentiment, because the speculative motivation for purchasing is the greatest altcoin pump-and-dump script in history, whereby they intend to solve every single problem or limitation inherent to Bitcoin with a fresh general-purpose system that doesn't exist yet or may not even ever be technologically possible.
hmmm, back to math class? 12 mill ether @ 2000 eth/btc ... you do the math, again? |
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mmitech
Legendary
Offline
Activity: 1148
Merit: 1001
things you own end up owning you
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July 24, 2014, 12:37:19 PM |
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how easy it became to bring the price to its knees, a 1000 BTC dump cause so much attention, there is no more interest in buying Bitcoin .... I have a feeling that the adoption rate is decreasing instead of slowing down or stopping, many people are getting out.
if things keeps this way, I will have to cash out everything in a month or so, better take my profits while I can.
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justusranvier
Legendary
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Activity: 1400
Merit: 1009
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July 24, 2014, 12:38:34 PM |
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12 mill ether @ 2000 eth/btc = a *lot* of weed money for the guys at the Ethereum house. |
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JayJuanGee
Legendary
Offline
Activity: 3710
Merit: 10227
Self-Custody is a right. Say no to"Non-custodial"
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July 24, 2014, 12:48:02 PM |
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how easy it became to bring the price to its knees, a 1000 BTC dump cause so much attention, there is no more interest in buying Bitcoin .... I have a feeling that the adoption rate is decreasing instead of slowing down or stopping, many people are getting out.
if things keeps this way, I will have to cash out everything in a month or so, better take my profits while I can.
OK... Why NOT now... ? Goodbye and good luck. |
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greenlion
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July 24, 2014, 12:48:44 PM |
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Wow I was mistaken in order of magnitude in the quick mental math because of the figures they proposed for the news leading up to the delayed February IPO.
This seems super duper sketchy that they can raise VC-level money on a crowd sale for something that is not even guaranteed to ever exist. And that they shopped around for a jurisdiction that would allow them to do this without immediately getting investigated for securities fraud.
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