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camu6
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August 15, 2014, 10:34:36 AM |
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A year ago every bit of good and bad news made the price move. IMO that was only the case because Bitcoin's potential was not factored into the price. This changed with the run up to 1200$.
My reading is rather that the "Western" marked defined the price a year ago, but then China took over, so that now the only news that move the market are news that affect the Chinese traders. Adoption by western businesses is irrelevant to the Chinese. (Not to mention that it is BAD news, since it should mainly encourage old holders to sell their coins, through Bitpay/Coinbase, whereas non-bitcoiners should not be impressed by it.) I have no doubt that the rise from ~130$ to ~1200$ was entirely due to the opening of the Chinese market. And the Chinese may have been responsible also for the rise from ~15$ to ~130$ in early 2013, that coincided with the hiring of Bobby Lee by BTC-China... China is indeed a big factor nowadays. But if China played that big of a role, just wait until other parts of tech savvy asia start a bitcoin bullrun  |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Kupsi
Legendary
 Offline
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
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August 15, 2014, 10:38:27 AM |
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dakota neat
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August 15, 2014, 10:39:31 AM |
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Chinese Bitcoin Farms will continue to drop large scale. Why the shouldnt? Obviously the can produce BTC far below the average cost (which is aroun d575 atm).
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oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
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August 15, 2014, 10:46:04 AM |
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Great find. “We think the closest thing is commodity money, like shells or deerskin,” Moriarty said. That should become our slogan ...  Bitcoin. 21st century Deerskin.™ |
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JayJuanGee
Legendary
 Online
Activity: 3710
Merit: 10233
Self-Custody is a right. Say no to"Non-custodial"
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August 15, 2014, 10:50:46 AM |
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Fucking sheep. These dumpers right now are such idiots.
Could you please reply to my previous posts, if not you are basically admitting to being a gay baby troll living at home with his sheep mummy. Shroomie .. doggie bird may have you on ignore.. but he claims to have bought back in yesterday at just under $500. |
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DubFX
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August 15, 2014, 10:51:35 AM |
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My fucking god...they still really have 12 millions in their wallet and all they have done was selling 1.3m and it resulted into crash to 500$. Fuck that.. |
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fonsie
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August 15, 2014, 10:52:09 AM |
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Fucking sheep. These dumpers right now are such idiots.
Could you please reply to my previous posts, if not you are basically admitting to being a gay baby troll living at home with his sheep mummy. Shroomie .. doggie bird may have you on ignore.. but he claims to have bought back in yesterday at just under $500. I know |
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Davyd05
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August 15, 2014, 10:53:24 AM |
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My fucking god...they still really have 12 millions in their wallet and all they have done was selling 1.3m and it resulted into crash to 500$. Fuck that.. eth ain't dumping its those getting loans repaid dumping |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10233
Self-Custody is a right. Say no to"Non-custodial"
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August 15, 2014, 10:56:44 AM |
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Does NOT add up... why would they time their sales to attempt to tank bitcoin.. ? |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 15, 2014, 10:59:38 AM |
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Newbie1022
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August 15, 2014, 11:00:10 AM |
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My fucking god...they still really have 12 millions in their wallet and all they have done was selling 1.3m and it resulted into crash to 500$. Fuck that.. eth ain't dumping its those getting loans repaid dumping We don't know for sure that they are dumping, but it is certainly a rational explanation for the fall... especially if they are targeting TA triggers and have a side bet in another wallet to catch the fall (maybe that is too dark a view of the world). I think they are dumping because they keep sending to the same wallet and then the transactions subsequent from that wallet are large loads... not in smaller to mid-size chunks like I'd expect. Can I prove that? No. Is it spooky that they are moving more coins. Absolutely!! Also, at the very least, even if they are trading off exchange and being respectful to the ecology of Bitcoin, we don't know who they are selling it to and whether or not those parties are interested in dumping. For instance, who is likely to be able to buy large chunks of coins if they aren't just dumping them? Wall Street players... rewind theory about setting of TA triggers and cashing in with a heftier bet at the bottom. |
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Newbie1022
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August 15, 2014, 11:02:07 AM |
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Does NOT add up... why would they time their sales to attempt to tank bitcoin.. ? Either they are making a bigger secondary bet... tank the price knowing you can buy back on the fall (and you'd know where the fall is going)... or they are goofs... or pure coincidence. This keeps happening though and corresponds more or less with the drops. Ergo, certainly yet another thing to watch for. Oh, and also... they might be looking to stir the trust in BTC a bit to gain market share... I mean, it's an expensive way to do it because this is also their fundraising round, but we don't know all of the details of their fundraising. |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10233
Self-Custody is a right. Say no to"Non-custodial"
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August 15, 2014, 11:12:15 AM |
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My fucking god...they still really have 12 millions in their wallet and all they have done was selling 1.3m and it resulted into crash to 500$. Fuck that.. eth ain't dumping its those getting loans repaid dumping We don't know for sure that they are dumping, but it is certainly a rational explanation for the fall... especially if they are targeting TA triggers and have a side bet in another wallet to catch the fall (maybe that is too dark a view of the world). I think they are dumping because they keep sending to the same wallet and then the transactions subsequent from that wallet are large loads... not in smaller to mid-size chunks like I'd expect. Can I prove that? No. Is it spooky that they are moving more coins. Absolutely!! Also, at the very least, even if they are trading off exchange and being respectful to the ecology of Bitcoin, we don't know who they are selling it to and whether or not those parties are interested in dumping. For instance, who is likely to be able to buy large chunks of coins if they aren't just dumping them? Wall Street players... rewind theory about setting of TA triggers and cashing in with a heftier bet at the bottom. Too conspiratorial. Does NOT compute.  |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10233
Self-Custody is a right. Say no to"Non-custodial"
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August 15, 2014, 11:16:42 AM |
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Does NOT add up... why would they time their sales to attempt to tank bitcoin.. ? Either they are making a bigger secondary bet... tank the price knowing you can buy back on the fall (and you'd know where the fall is going)... or they are goofs... or pure coincidence. This keeps happening though and corresponds more or less with the drops. Ergo, certainly yet another thing to watch for. Oh, and also... they might be looking to stir the trust in BTC a bit to gain market share... I mean, it's an expensive way to do it because this is also their fundraising round, but we don't know all of the details of their fundraising. You are building a house of cards upon inferences upon inferences upon inferences... one card falls and the whole house falls... in other words, you theory does NOT hold up too well.. NOT Likely... |
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ShroomsKit
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August 15, 2014, 11:33:13 AM |
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lol, OKcoin does 2-5k btc per HOUR and Huobi does 1-2k, Ethereum moving 3,700 coins is so insignificant it's not even worth mentioning. The chinese are in full control of the markets, Stamp and Finex are just sitting there following their every move. Nothing this side of the water has anything to do with what is going on in my opinion
Those numbers for the Chinese exchanges are not correct. The real volume is way lower. Like many times lower. |
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tarmi
Legendary
Offline
Activity: 1218
Merit: 1010
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August 15, 2014, 11:35:09 AM |
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china going under, again.
brace yourself.
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lemonte
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August 15, 2014, 11:35:37 AM |
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Does NOT add up... why would they time their sales to attempt to tank bitcoin.. ? Yeah, doesn't make sense to me, in kiling Bitcoin they would kill consumer confidence in their own product. |
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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August 15, 2014, 11:39:00 AM |
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china going under, again.
brace yourself.
China bans Bitcoin! |
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