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

[jonoiv]

Draper is back  
http://www.bloomberg.com/news/2014-11-18/bitcoin-auction-winner-draper-to-bid-again-in-december.html

Dumping 50.000 BTC on the market soon sure is not bullish. I wish the US government is wiser and sell those seized coins slowly through the exchange.

How it that dumping?

[WeltMaster]

I remember a couple of years ago when if the price moved by a whole dollar it was seen as a big big thing 

Proportionality is everything when you're talking about prices in 600+ dollars, a swing of 50 then is a swing of about 30 here.

[Terwa]

New poll... new vote!

[var53]

I remember a couple of years ago when if the price moved by a whole dollar it was seen as a big big thing 

Proportionality is everything when you're talking about prices in 600+ dollars, a swing of 50 then is a swing of about 30 here.

If bitcoin skyrockets then today's volatility will appear as a flat line on charts a few years in the future. A hundred dollars up or down will be meaningless.

[ChartBuddy]

Explanation

[N12]

Miners (businessmen who only sell) => SR (increasing velocity of money, increasing liquidity, decreasing scarcity/price) => FBI/USG (seizing all this liquidity and inducing supply shock by increasing scarcity) => Auction bidders (influential Silicon Valley Billionaires who now have an increased stake in Bitcoin the asset and not only Bitcoin companies)

This flow of money is bullish. I hope this happens until almost all the supply is in the hands of Tim Drapers and Winklevosses.

[ask]

Miners (businessmen who only sell) => SR (increasing velocity of money, increasing liquidity, decreasing scarcity/price) => FBI/USG (seizing all this liquidity and inducing supply shock by increasing scarcity) => Auction bidders (influential Silicon Valley Billionaires who now have an increased stake in Bitcoin the currency and not only Bitcoin companies)

This flow of money is bullish. I hope this happens until almost all the supply is in the hands of Tim Drapers and Winklevosses.

Correct.

This process should be called: Bitcoin billionaire Genesis.

[jeezy]

Miners (businessmen who only sell) => SR (increasing velocity of money, increasing liquidity, decreasing scarcity/price) => FBI/USG (seizing all this liquidity and inducing supply shock by increasing scarcity) => Auction bidders (influential Silicon Valley Billionaires who now have an increased stake in Bitcoin the currency and not only Bitcoin companies)

This flow of money is bullish. I hope this happens until almost all the supply is in the hands of Tim Drapers and Winklevosses.

Correct.

This process should be called: Bitcoin billionaire Genesis.

You mean the good ol' BBG. It's been a thing for a long time now. Welcome to 2013.

[WeltMaster]

Minus the giant overshoots to 450 this has been a pretty stable handle over 370~

Bullish?

[galdur]

Bullish.

[NotLambchop]

Draper is back  
http://www.bloomberg.com/news/2014-11-18/bitcoin-auction-winner-draper-to-bid-again-in-december.html

Dumping 50.000 BTC on the market soon sure is not bullish. I wish the US government is wiser and sell those seized coins slowly through the exchange.

How it that dumping?

How is it that you don't uderstanderstand?  Selling 50K = dumping, opposite of hodling.

[ask]

Draper is back 
http://www.bloomberg.com/news/2014-11-18/bitcoin-auction-winner-draper-to-bid-again-in-december.html

Dumping 50.000 BTC on the market soon sure is not bullish. I wish the US government is wiser and sell those seized coins slowly through the exchange.

How it that dumping?

How is it that you don't uderstanderstand?  Selling 50K = dumping, opposite of hodling.

I don't now if you are just manipulating with people or you are simply stupid.

Let me explain: If someone sells bitcoin on OTC market, this doesn't have any influence on exchanges. It is just transfer from temporary holder to a new long term holder.

Full stop.

[galdur]

So the guy may or may not buy those coins at the auction next month
which means that he may or may not dump them on the market after
that date. Effect on the current market = zero.

[dewdeded]

Draper wont sell during ("dump") the next 3 years. He is in longterm. He said that in interviews.

[JorgeStolfi]

Miners (businessmen who only sell) => SR (increasing velocity of money, increasing liquidity, decreasing scarcity/price) => FBI/USG (seizing all this liquidity and inducing supply shock by increasing scarcity) => Auction bidders (influential Silicon Valley Billionaires who now have an increased stake in Bitcoin the asset and not only Bitcoin companies)

This flow of money is bullish. I hope this happens until almost all the supply is in the hands of Tim Drapers and Winklevosses.

I have seen many claims that big miners sell directly to big buyers off-exchanges, I don't know whether that is true.

SilkRoad apparently was accumulating bitcoins; if so, they were reducing liquidity and velocity, and increasing scarcity.  In that case, the FBI seizure, by itself, did not affect the market -- it was a direct transfer from one hoarder to another.

Tim Draper is holding (so he says; although his coins moved recently, it seems).  Given his experience (~33% paper loss so far), the next auction winner may be a speculator who buys substantially below market to sell right away, possibly on the markets. 

[redsn0w]

Sell bitcoin   ≠  dump  ( in a little deal).

Oh my GOD  ......

[NotLambchop]

Draper is back 
http://www.bloomberg.com/news/2014-11-18/bitcoin-auction-winner-draper-to-bid-again-in-december.html

Dumping 50.000 BTC on the market soon sure is not bullish. I wish the US government is wiser and sell those seized coins slowly through the exchange.

How it that dumping?

How is it that you don't uderstanderstand?  Selling 50K = dumping, opposite of hodling.

I don't now if you are just manipulating with people or you are simply stupid.

Let me explain: If someone sells bitcoin on OTC market, this doesn't have any influence on exchanges. It is just transfer from temporary holder to a new long term holder.

Full stop.

Two faulty assumptions:
1. The coin sold OTC doesn't eventually appear on exchanges.
2. "Long term holder."

*How's your boss BTC investment doin'?  

[NotLambchop]

Seel bitcoin   ≠  dump  ( in a little deal).

Oh my GOD  ......

If selling 50k to the highest bidder is not dumping, what is?

[NotLambchop]

Draper wont sell during ("dump") the next 3 years. He is in longterm. He said that in interviews.

Sure

[dewdeded]

Sell bitcoin   ≠  dump  ( in a little deal).

Oh my GOD  ......

+100

Annoys me very much, that many people use the words "sell" and "dump" as synonyms today. The word "dump" lost its meaning.