inca
Legendary
 Offline
Activity: 1176
Merit: 1000
|
 |
December 27, 2014, 09:19:14 AM |
|
Down a few dollars. Back up by this afternoon?  |
|
|
|
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
Globb0
Legendary
Offline
Activity: 2674
Merit: 2053
Free spirit
|
|
December 27, 2014, 09:30:25 AM |
|
It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump. If it was a sincere effort to dump, it would have sell walls. Instead, they just dump at market. This is starting to feel like a psyops campaign rather than superstitious trading. Just Bitpay and other sellers dumping, I guess. No need of theories about nutz guys selling stuff just for the sake of no reason What kind of business model dumps large amounts at market? The kind that sees the writing on the wall??  Why wouldn't they just quit if they think bitcoin is failing? It's not a very sound business plan. Buy high and probably sell low? Just another revenue stream for them. From a business pov sell 100$ of goods, receive 100$ in BTC, Sell BTC and get 100$ in the bank = balanced books and happy shareholders sell 100$ of goods, receive 100$ in BTC, Hold; now its worth (10<800)* the amount of coins= wth is going on in these books ? Unless there is a strong business case to the contrary |
|
|
|
|
|
phoenix1
|
|
December 27, 2014, 09:31:43 AM |
|
fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same.
Not if the few ones left keep buying more hash generator things. If this happens, we will see mining concentrated in the hands of few and will be harder and harder for newcomer have profits(any similarities with current situation is just coincidence) See above ... if that smaller group then buy more rigs in the same proportions, the number of minted coins they receive will not change at all (with the exception of what I wrote in my previous post) so I don't really get your point. As for newcomers they have the advantage of being able to buy the newest, fastest rigs on the market, so as long as they have done their maths right and can run a business, there is still no barrier to entry. In fact they may be more competitive than the incumbents if they ONLY have the newest and fastest gear and a good set up. The landscape can change quite dramatically. Though, I agree, it is and will likely remain open to those with deep pockets. It is those with obsolete equipment that are the losers, as it always has been in any industry. Nothing else really changes. |
|
|
|
|
|
ShroomsKit
|
|
December 27, 2014, 09:36:39 AM |
|
wha happund?
What's the problem? Why is there no party? Cheap coins for everyone! I don't get it. |
|
|
|
|
|
ShroomsKit
|
|
December 27, 2014, 09:38:09 AM |
|
Down a few dollars. Back up by this afternoon? About 900. |
|
|
|
|
|
galdur
|
|
December 27, 2014, 09:38:33 AM |
|
Judging from the dysfunctional behavior I mentioned before
it´s very likely a scam of some sort. So, selling it short will
continue to be a 100% sure thing next year as it has been
this year.
Market sense; Sell any pop. Demand very high yield from
cloud mining contracts, definitely not less than 2% per day.
Same goes for purchase of mining equipment.
|
|
|
|
|
|
ShroomsKit
|
|
December 27, 2014, 09:58:24 AM |
|
I just realized there is this Bitcoin superbowl thing going on. No idea what it is but apparently it's quite big and a lot of eyes are lointing our way.
That makes that dump even more messed up. How much more obvious do you want it. These people are doing everything they can to scare away new people from Bitcoin. They won't stop till there's not a single buyer left.
|
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
 |
December 27, 2014, 10:00:23 AM |
|
|
|
|
|
|
N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
|
|
December 27, 2014, 10:00:41 AM |
|
wha happund?
What's the problem? Why is there no party? Cheap coins for everyone! I don't get it. There's a party, you just haven't been invited. I wonder why.  |
|
|
|
|
inca
Legendary
Offline
Activity: 1176
Merit: 1000
|
|
December 27, 2014, 10:02:10 AM |
|
I just realized there is this Bitcoin superbowl thing going on. No idea what it is but apparantly it's quite big and a lot of eyes are lointing our way.
That makes that dump even more messed up. How much more obvious do you want it. These people are doing everything they can to scare away new people from Bitcoin. They won't stop till there's not a single buyer left.
Yep. Whoever dumped 1000 coins on bitstamp certainly wasn't seeking best price - just to move the price downwards! Bitpay as is previously documented do not just directly dump onto exchanges, and certainly not in large price moving tranches. |
|
|
|
|
|
phoenix1
|
|
December 27, 2014, 10:16:00 AM |
|
Yep. Whoever dumped 1000 coins on bitstamp certainly wasn't seeking best price - just to move the price downwards!
Bitpay as is previously documented do not just directly dump onto exchanges, and certainly not in large price moving tranches.
Didn't exactly look like the buyer you were celebrating last night was seeking best price either. You can't have it both ways. 'Hmmm ... it's genuine buying when someone tears through the order book on the upside but its a conspiracy when they market sell'. That makes zero sense. The only logical conclusion is that Shroomskit is right and all traders are idiots  And Blitz, I reckon Shroomy would be a real hit at parties. I mean, can you imagine ... it'd be like inviting Scrooge round for Xmas dinner - that has to be funny |
|
|
|
|
inca
Legendary
Offline
Activity: 1176
Merit: 1000
|
|
December 27, 2014, 10:25:42 AM |
|
Yep. Whoever dumped 1000 coins on bitstamp certainly wasn't seeking best price - just to move the price downwards!
Bitpay as is previously documented do not just directly dump onto exchanges, and certainly not in large price moving tranches.
Didn't exactly look like the buyer you were celebrating last night was seeking best price either. You can't have it both ways. 'Hmmm ... it's genuine buying when someone tears through the order book on the upside but its a conspiracy when they market sell'. That makes zero sense. Fair point. And that is why I don't really care about the short term price fluctuations. Everything above 275 is noise until we get to about 480 or so. Some upward noise would be nice, though. |
|
|
|
|
|
aclass
|
|
December 27, 2014, 10:40:51 AM |
|
so 275 is the bottom for you?
if we see a big dumper coming around like the last sub 300, we might even hit sub 250
|
|
|
|
|
S3052
Legendary
Offline
Activity: 2100
Merit: 1000
|
|
December 27, 2014, 10:42:48 AM |
|
so 275 is the bottom for you?
if we see a big dumper coming around like the last sub 300, we might even hit sub 250
or 175... |
|
|
|
|
|
Davyd05
|
|
December 27, 2014, 10:44:47 AM |
|
so 275 is the bottom for you?
if we see a big dumper coming around like the last sub 300, we might even hit sub 250
or 175...it'll go as low as the support will allow. But still in the process what I can only hope is new joiners are getting some coins, and not purely for speculative purposes. |
|
|
|
|
|
JorgeStolfi
|
|
December 27, 2014, 10:44:53 AM |
|
What kind of business model dumps large amounts at market?
* Owner needed some money quickly * Bitcoiners made many purchases through Bitpay when price was 318$; Bitpay sees that price is 327$, sells the coins before it drops back to 318$ and below. * Private investor bought a bunch off-exchange for 320$; ditto. Probably many more... |
|
|
|
|
|
coinmaster222
|
|
December 27, 2014, 10:46:03 AM |
|
You cannot take this period of time into consideration as its the holidays and people need to sell.There is really no liquidity in the market just now and medium size sales can have large effects on the market.Fact 80% of all mined btc is in wallets not opened in 6 months.
|
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
December 27, 2014, 11:00:26 AM |
|
|
|
|
|
|
|
unent
|
|
December 27, 2014, 11:00:35 AM |
|
What kind of business model dumps large amounts at market?
* Owner needed some money quickly* Bitcoiners made many purchases through Bitpay when price was 318$; Bitpay sees that price is 327$, sells the coins before it drops back to 318$ and below. * Private investor bought a bunch off-exchange for 320$; ditto. Probably many more... Bills come in at the end of the month/quarter and businesses need money to pay them. |
|
|
|
|
inca
Legendary
Offline
Activity: 1176
Merit: 1000
|
|
December 27, 2014, 11:05:45 AM
Last edit: December 27, 2014, 11:43:58 AM by inca |
|
so 275 is the bottom for you?
I have no idea, but I would guess so. It is difficult to value btc but the price has been higher than 275 for over a year now. In that time a lot of positive things have happened in the space, many that would not have been predicted with a straight face just a year ago. We are in Holiday season and nothing that happens now is really that significant IMO (see volume). I think we see another pump next year which will draw in the next adoption wave. Edit: I see stolfi is now posting in buttcoin. Impartial academic my arse! |
|
|
|
|
|
Poll
