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Author Topic: Here comes the hell-storm... Massive cash-in...  (Read 7939 times)
ISAWHIM (OP)
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June 02, 2013, 08:34:02 AM
 #1

Just when you thought the market had a stable value... Boom... someone with millions if holdings goes and cashes out, all at once.

Tongue

Good time to buy!

The sky is falling, the sky is falling! No, just the value of bitcoins. xD

Almost up to 20,000 BTC cashed-in... What is that, like $2,500,000 that was cashed-in for about $125/btc...

LOL, they are waiting for everyone to raise the price again... so they can cash-out on a second run, with less losses. You can see them slowing down as they knock the value down.

Smart, they cashed-out on all the markets at once... Instead of just dropping one market, they hit them all. lol. I smell ASIC dust in those transactions.
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Mogumodz
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June 02, 2013, 08:56:09 AM
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Did just wonder what happened. Yours Is the first post I've noticed about it after looking for such info as to why it was happening this time.

Bitcoin OTC rating GPG ID: 3E7974A1 P2Pool statistics: p2pool.info
kinitex
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June 02, 2013, 08:57:03 AM
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Popcorn in hand

ISAWHIM (OP)
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June 02, 2013, 09:01:49 AM
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I like the "stand-off" now... lol...

Buyers moving the "Bid" to just under 119/btc...
Sellers moving the "Ask" to just over 119/btc...

Obviously, the one cashing-out has a limit/wish of getting at-least $119/btc...

Makes more popcorn, extra salt, extra butter...

Doesn't look so vicious on the 6-month chart. (That is when I start to freak.)

I knew something like this was going to happen... The "volume" of trades is sadly, the same as what it was, when bitcoins were only $13/btc... (That solidifies that the next price-point will be $1000... When we go full-tilt ASIC mining.)

$1-$10 = CPU mining
$10-$100 = GPU mining
$100-$1000 = ASIC mining
$1000-$10000 = NEURAL mining
$10000-$100000 = SOUL mining
$100000-$1000000 = GALAXY mining
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June 02, 2013, 09:06:37 AM
 #5

Price goes down, price goes up.

Bitcoin never changes.

Bitcoin Auction House http://www.BitBid.net BTC - 1EwfBVC6BwA6YeqcYZmm3htwykK3MStW6N | LTC - LdBpJJHj4WSAsUqaTbwyJQFiG1tVjo4Uys Don't get Goxed.
worldinacoin
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June 02, 2013, 09:12:34 AM
 #6

I don't see anyone complaining when Bitcoin goes from $5 to $200.   Come on the drop is really miniscule, nothing to worry about.  Consider it a healthy correction, I am sure that are tons of Bitcoinless people out there waiting for a drop to come into the market.  Relax!
ISAWHIM (OP)
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June 02, 2013, 09:20:18 AM
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I wasn't complaining, just observing... (That was sarcasm in my first post.) Smiley I am only here because I ran out of electrical tape, while modifying one of my new PSU's, to make it run my three new 7970's. Stupid PSU only had one 6-pin, and one 8-pin... The rest were all crap molex connectors. Pure waste of 64amps on a 12v rail. They didn't even use two of the holes to mount the other 8 wires it could have had. lol, cheap guys. Now it powers one fan on 5v, to give it a load, for better 12v regulation, and has all 3 of the 6&8-pin connectors, for running the three cards, and nothing else. Smiley Then I ran out of electrical tape, once it was all soldered and rigged. I should have been born Jewish... (That was a compliment, not an insult.)

It is a good sign that... Now it is 40,000BTC that was cashed-in, for an average of $122/btc, so that is $4,880,000 USD cashed-out... and the market was barely dented.

For those looking for a quick-sweep, to make $10 per $120... There is no better time than now, to buy. (Not like the market is going to hold at this price. That was the 2nd largest drop all week.) May not sound like much of a gain, but that is all the market has to offer.

BTC is like gold... Not great to invest in, short-term, but great to find on the ground! (We need more hedging!)
worldinacoin
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June 02, 2013, 09:27:09 AM
 #8

With millions of dollars pledged from venture capitalists and they themselves buying up chunks of Bitcoin, there is quite a solid footing already.
tutkarz
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June 02, 2013, 09:28:18 AM
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i will never understand this why someone who has 40 000 bitcoins wants to drop this all at once instead of just selling slowly for $10 more than before the drop. even considering average $5 its $200 000 lost in a second. Someone is very stupid or very rich and bored or both. Ofcourse maybe they want to lower price so they can buy more bitcoins but still its stupid idea to me to make people nervous and not just simply wait for price to be higher and then sell and enjoy they richness.

ISAWHIM (OP)
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June 02, 2013, 09:41:46 AM
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The market regains faster from an abrupt drop... The market would just look like it was crashing, if they constantly pulled a steady stream out. Psychologically, a "trough", looks more intimidating than a slow downward slope. But numerically, it will be smoothed-out in all charts when they merge the averages. (Thus, less intimidating.) They are hiding something, since they are doing all sorts of small transactions... or using a screwy BOT to bid... (It is actually waiting for the price to rise, and then sells, then waits, then sells...)

I would assume, they have been holding for a while, and finally found that new Lambo they always wanted. Tongue

The market is still persistently rising, as our losses (future losses), continue to grow. (Thus, we keep asking for more, to fill the losses.)

Once the GPU's switch-over to scrypt-coins, that will cause another odd swell and drop. However, we still have another four months before ASIC's do any real damage to us. Even when they take 50% of the total mined coins, we will still be the dominant ones until we ALSO own ASIC's. Then they will be exactly where they were before ASIC's... with the same 0.00001% per person, and now 50% going to the ones making the ASIC's. EG, we will still end-up with less than we have now, as individuals.

See, the market is almost right back up to $130 again...

Thus, "persistently rising", and "A good time to buy", and "still realistically going to hit $1000/btc by the years-end." (I'll bet 0.01btc on that!)
ISAWHIM (OP)
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June 02, 2013, 09:46:54 AM
 #11

And now it is back to 130... And rising above...

....

Nope, tug of war now!... lol

130 - 125 - 130 - 125... Better stop at 150 by the end of the day.

I like that chart, reminds me of the old arcade game I had in my apartment. "Defender".


1st and the 15th... major market moves... "pay day"
tutkarz
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June 02, 2013, 10:05:34 AM
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all i can say is someone is playing against the trend and i heard its bad for such player Wink

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June 02, 2013, 10:29:56 AM
 #13

Eh... somebody just wanted to cash out... Big fucking deal!

Lots of people got some cheap coins!

worldinacoin
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June 02, 2013, 10:31:53 AM
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I really hope Bitcoin will drop a while , let me get in first and rise back Smiley .  I am running out of Bitcoin
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June 02, 2013, 11:22:04 AM
 #15

Yeah kinda surprising it hasn't bottomed out after that sell. But then again it is the weekend so might be a bit of lag in the reactions
zby
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June 02, 2013, 11:40:58 AM
 #16

i will never understand this why someone who has 40 000 bitcoins wants to drop this all at once instead of just selling slowly for $10 more than before the drop. even considering average $5 its $200 000 lost in a second. Someone is very stupid or very rich and bored or both. Ofcourse maybe they want to lower price so they can buy more bitcoins but still its stupid idea to me to make people nervous and not just simply wait for price to be higher and then sell and enjoy they richness.

Just try that out someday.  Unless you have a bot you'll find that the market reacts to your selling and you'll get the feeling of ground moving from under your feet and you'll probably end up with not a better price than what you'd get from one sell off.
tutkarz
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June 02, 2013, 11:47:02 AM
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i will never understand this why someone who has 40 000 bitcoins wants to drop this all at once instead of just selling slowly for $10 more than before the drop. even considering average $5 its $200 000 lost in a second. Someone is very stupid or very rich and bored or both. Ofcourse maybe they want to lower price so they can buy more bitcoins but still its stupid idea to me to make people nervous and not just simply wait for price to be higher and then sell and enjoy they richness.

Just try that out someday.  Unless you have a bot you'll find that the market reacts to your selling and you'll get the feeling of ground moving from under your feet and you'll probably end up with not a better price than what you'd get from one sell off.

if the ground is moving then maybe the sell of is too fast. still i dont think selling large amount is better than selling slowly, maybe because i dont have that many bitcoins and i dont have astronomic needs which require me to have large amounts of money fast. if i had any bitcoins and i wanted to buy something expensive i would rather look for somebody who will buy them for a fixed price outside of exchange or try to buy directly using bitcoins. but what i poor one could possibly know Wink

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June 02, 2013, 12:07:30 PM
 #18

I don't see anyone complaining when Bitcoin goes from $5 to $200.   Come on the drop is really miniscule, nothing to worry about.  Consider it a healthy correction, I am sure that are tons of Bitcoinless people out there waiting for a drop to come into the market.  Relax!

why do people say that "people wait for a drop to buy"? if its going to $1000++++++++++ what is an extra $10 per coin?
Boxman90
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June 02, 2013, 12:09:07 PM
 #19

They didn't cash out on all markets at once - bitstamp took a healthy few minutes to respond to the massive crash on Gox. BTC-e as well..

LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC   BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
meangreen
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June 02, 2013, 12:14:22 PM
 #20

i will never understand this why someone who has 40 000 bitcoins wants to drop this all at once instead of just selling slowly for $10 more than before the drop. even considering average $5 its $200 000 lost in a second. Someone is very stupid or very rich and bored or both. Ofcourse maybe they want to lower price so they can buy more bitcoins but still its stupid idea to me to make people nervous and not just simply wait for price to be higher and then sell and enjoy they richness.

what is the monthly withdrawl limit at gox $50k? if so to get a million dollars withdrawn its going to be 20 months.
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