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Author Topic: Bitcoin 2013 conference is this week  (Read 2295 times)
capsqrl
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May 13, 2013, 06:10:34 PM
 #1

How do you think the conference will affect the price?

I'm guessing positively - looks like there will be a few interesting announcements, and the conference itself will show off Bitcoin's legitimacy. Plus, the price can't bounce between 112 and 119 forever.

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May 13, 2013, 06:16:55 PM
 #2

It won't affect the price.

Unless there's bad news. In which case it will plummet.
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May 13, 2013, 06:29:33 PM
 #3

It won't affect the price.

Unless there's bad news. In which case it will plummet.

correct.



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May 13, 2013, 06:35:44 PM
 #4

In my mind the conference will help raise the value of bitcoin slightly (3-7%)

I think that it will generate some decent press hopefully in some papers that have not even had anything mentioned about BTC at all.  When thinking about it there has been nothing at all in the Los Angeles Times about Bitcoin except for a little spot about the Winklevoss Twins and it was negative in that it was talking about the "Bubble Bursting."  I would like to see at least one decent sized article that takes Bitcoin seriously for once there and in other well known publications.

If that happens then I think the growth could be significant.  Just my thoughts on this.   

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May 13, 2013, 06:39:01 PM
 #5

I guess those botnets are eyeing to harass Gox during the conference time. Weekend dip is coming.
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May 13, 2013, 06:40:24 PM
 #6

More press = Higher Price in my opinion. Really wanted to go, shame I'm unable to.

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MAbtc
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May 13, 2013, 06:42:11 PM
 #7

Isn't this simply neutral? Why would this affect price, in and of itself?
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May 13, 2013, 06:44:04 PM
 #8

Unless said people involved in conference decided to coordinate their effort in moving the price a certain way, I doubt we will see any significant movement as a direct result of it.

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May 13, 2013, 06:50:37 PM
 #9

In my mind the conference will help raise the value of bitcoin slightly (3-7%) but also if there was a time for a large holder to make a play at "doubling" down with a large selloff (50k BTCs or more) then buying right back in this would be the time to do it as some of the major players are at work groups.

The large players you speak of, they all have lots of BTC, not lots of USD.  So the main way they could swing the price would be down, with a large sells.  I don't see how it would be an ideal time for someone to dump BTC in an attempt to cause  price crash.  That would be when all of the USD are tied up in a conference.

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May 13, 2013, 07:00:47 PM
 #10

Unlike previous conferences, where there was a tremendous amount of hype before and a faint echo of "Pattaya" right after, there's been remarkably little pre-conference hype here.

Maybe the organisers have got this one right, after all. If I were a betting man, I'd be looking to get some interesting announcements out of this one. There have been some really interesting developments lately, and any of those (plus a few others that one can easily think of), would be a good starting point for a conference announcement.

It's obviously possible that nothing new will come of it. But somehow, on this occasion, I don't think that will be the case. Less pre-hype equals more actual forward movement in my estimation.

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May 13, 2013, 07:02:27 PM
 #11

I think the conference will have a positive effect on price.  BTC really started to take off after the Consumer Electronics Show in Vegas where there was a bitcoin booth and a few announcements were made.  It wasn't much, but people always wonder what 'backs' bitcoin.  Here on this forum we tend to understand the true nature of what backs it, but for most people out there, seeing hundreds of smart tech people and venture capitalists gather in the name of bitcoin may help boost their confidence.  Even just that people are willing to show their faces in public may help take some of the dark mystery out of it all.

Bitcoin can be thought of like a company, but most employees have never met each other, or just one or two.  A little face time can inspire people even more than they are now.

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May 13, 2013, 07:08:06 PM
 #12

Less pre-hype equals more actual forward movement in my estimation.

Interesting observation.

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May 13, 2013, 07:14:29 PM
 #13

Conferences don't affect the price. Pump and dump does and so do the bots and Mt.Cox lag. But something is going on already. This stable price is just a calm before the storm.
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May 13, 2013, 07:17:12 PM
 #14

I think it will give the price a boost hopefully some positive press out of the event.
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May 13, 2013, 07:51:28 PM
 #15

Should be a good meetup of entrepreneurs, techies, VCs, media, and general bitcoin and tech enthusiasts. Regardless of whether or not any huge announcements are made at the conference directly, I'm confident that relationships, ideas, and potentially companies will be formed out of it that'll contribute to wider adoption and a better ecosystem down the road.


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May 13, 2013, 09:22:01 PM
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In my mind the conference will help raise the value of bitcoin slightly (3-7%) but also if there was a time for a large holder to make a play at "doubling" down with a large selloff (50k BTCs or more) then buying right back in this would be the time to do it as some of the major players are at work groups.

The large players you speak of, they all have lots of BTC, not lots of USD.  So the main way they could swing the price would be down, with a large sells.  I don't see how it would be an ideal time for someone to dump BTC in an attempt to cause  price crash.  That would be when all of the USD are tied up in a conference.

If you don't think large players have USD reserves to buy the dips, you are short sighted.

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May 13, 2013, 10:09:18 PM
 #17

If you don't think large players have USD reserves to buy the dips, you are short sighted.

Of course they have reserves of USD, but not large reserves.  Maybe some millions, but that's not enough to protect against a crash.  When the Winklevii twins are giving there keynote(s) - maybe that is the moment for the bears to attack.  Satoshi having $100M worth more bitcoins is not the same as having $100M he can buy bitcoins with.  All Satoshi could do is stop the price from going higher.  All Bill Gates could do is stop the price from going down.  At this moment in bitcoin history with the market cap the size it is, there are very few people, if anyone, who has enough BTC and USD to control BOTH up AND down of the price.

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May 14, 2013, 01:09:50 AM
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If you don't think large players have USD reserves to buy the dips, you are short sighted.

Of course they have reserves of USD, but not large reserves.  Maybe some millions, but that's not enough to protect against a crash.  When the Winklevii twins are giving there keynote(s) - maybe that is the moment for the bears to attack.  Satoshi having $100M worth more bitcoins is not the same as having $100M he can buy bitcoins with.  All Satoshi could do is stop the price from going higher.  All Bill Gates could do is stop the price from going down.  At this moment in bitcoin history with the market cap the size it is, there are very few people, if anyone, who has enough BTC and USD to control BOTH up AND down of the price.

If you have millions of dollars in bitcoins it would only be prudent to keep some USD at the ready to support the value of your holdings.  You may be right that there are some noneconomical types who wound up with too many bitcoins, but there are quite a few large holders with some risk management sense.

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May 14, 2013, 01:16:58 AM
 #19

An overhyped conference that does not produce what is hyped up results in a lower price.

This conference does not seem to be overhyped (or hyped much at all).

If some new technologies are announced it should give a slight bump to bitcoin. Especially in regards to a way to pay in brick and mortar stores with some sort of bitcoin card.

BitPay will be announcing the numbers for Gyft usage after their initial week. This should be newsworthy.

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May 14, 2013, 10:29:48 AM
 #20

No effect at all.
It is not a secret meeting, everyone knows about it months ago.
The people who believe it has any effect on the price have already adjusted to it and people who don't know about it probably don't care about it at all.
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