Bitcoin Forum
December 11, 2016, 12:19:47 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Price drop below $10 will set back bitcoin one year or more  (Read 3109 times)
toddbethell
Jr. Member
*
Offline Offline

Activity: 49


History, Privacy, Private property, LIBERTY


View Profile WWW
July 04, 2011, 07:20:37 PM
 #1

It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all. The individual that is selling large amounts of coins in single chunks then placing large amounts of coins in very obvious ceiling positions is causing new investors of high net worth to take pause. I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins. These persons will not proceed if bitcoin is manipulated down much further. They are not investing because bitcoin advances liberty and privacy, they are investing for profit. To the individual that is doing this, and I know you are one individual, I am not asking you to hold your coins; go ahead, sell all you want, but what do you gain by preventing new money from coming into the market with these ceilings?

Todd Bethell, CFM, MBA
tbethell08@merage.uci.edu
toddbethell@fastscanning.com
Work: (949) 340-5438
1481458787
Hero Member
*
Offline Offline

Posts: 1481458787

View Profile Personal Message (Offline)

Ignore
1481458787
Reply with quote  #2

1481458787
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481458787
Hero Member
*
Offline Offline

Posts: 1481458787

View Profile Personal Message (Offline)

Ignore
1481458787
Reply with quote  #2

1481458787
Report to moderator
YoYa
Hero Member
*****
Offline Offline

Activity: 627



View Profile
July 04, 2011, 07:40:45 PM
 #2

Er.....

Go trade on another exchange maybe?!?

If the price of BTC surges on another exchange, the average value of BTC across the exchanges will remain high and things will start to feel lonely at gox, leaving this one individual in their own slump.

Also......if what you are saying about serious investors.....they ain't going to Gox, they are going to go to a regulated American based exchange......Oh looky here!
www.campbx.com
jed
Full Member
***
Offline Offline

Activity: 166

Jed McCaleb


View Profile WWW
July 04, 2011, 07:46:35 PM
 #3

toddbethell: Wouldn't a lower price attract more investment? It the price goes to 10 there is clearly potential for 3x upside. 3x upside isn't that clear when the price is 30.

YoYa: you can't seriously trade on a market with a 1/10th the liquidity of the main market. You are just throwing money away if you do.

stellar.org   |    twitter
DrYe5
Member
**
Offline Offline

Activity: 112


View Profile
July 04, 2011, 07:47:17 PM
 #4

If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3.

I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins.

Unsupported conjecture + Ambiguous Rumor

tips: 14Z1Bwa8bgEWphjD2qqaXMTY9ucutwuTw8
error
Hero Member
*****
Offline Offline

Activity: 574



View Profile
July 04, 2011, 07:54:44 PM
 #5

The people who make these boneheaded moves either are not on the forum (most likely) or do not want to talk about it.

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
YoYa
Hero Member
*****
Offline Offline

Activity: 627



View Profile
July 04, 2011, 07:56:57 PM
 #6

YoYa: you can't seriously trade on a market with a 1/10th the liquidity of the main market. You are just throwing money away if you do.

You are right, the other exchanges have yet to catch up, none the less liquidity is only generated by having people trade on the platform, and should you have enough capital......you could generate enough swings to start things moving.....highly unlikely scenario tho.
RodeoX
Legendary
*
Offline Offline

Activity: 2114


The revolution will be monetized!


View Profile
July 04, 2011, 08:08:44 PM
 #7

Todd speaks the truth. I have a large investor who is watching for the right signs but is hesitant to go in when we see how easy it is to manipulate the market.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
cryptoanarchist
Hero Member
*****
Offline Offline

Activity: 896



View Profile
July 04, 2011, 08:17:08 PM
 #8

It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all. The individual that is selling large amounts of coins in single chunks then placing large amounts of coins in very obvious ceiling positions is causing new investors of high net worth to take pause. I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins. These persons will not proceed if bitcoin is manipulated down much further. They are not investing because bitcoin advances liberty and privacy, they are investing for profit. To the individual that is doing this, and I know you are one individual, I am not asking you to hold your coins; go ahead, sell all you want, but what do you gain by preventing new money from coming into the market with these ceilings?

*facepalm*

I had my knee high boots on by the time I got through this BS
RodeoX
Legendary
*
Offline Offline

Activity: 2114


The revolution will be monetized!


View Profile
July 04, 2011, 08:50:03 PM
 #9

Todd speaks the truth. I have a large investor who is watching for the right signs but is hesitant to go in when we see how easy it is to manipulate the market.


It is still a tiny market, and needs market makers.

Chicken and egg right there.

Your 'large' investor can make a difference if he/she chooses to.
That's my opinion also. Be a market maker! But you know how conservative real investors can be.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
July 04, 2011, 08:53:38 PM
 #10

It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3.

Maybe thats what they want? Buy for a pittance and reap huge profits later?

Sometimes trading's not rocket science.

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
July 04, 2011, 09:03:35 PM
 #11

It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all. The individual that is selling large amounts of coins in single chunks then placing large amounts of coins in very obvious ceiling positions is causing new investors of high net worth to take pause. I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins. These persons will not proceed if bitcoin is manipulated down much further. They are not investing because bitcoin advances liberty and privacy, they are investing for profit. To the individual that is doing this, and I know you are one individual, I am not asking you to hold your coins; go ahead, sell all you want, but what do you gain by preventing new money from coming into the market with these ceilings?

What's your evidence that 1 single person is causing this?

On the technical side you make a good point. There is no reason to buy at current levels for investors. Bitcoin is in a midterm bearmarket.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
DrYe5
Member
**
Offline Offline

Activity: 112


View Profile
July 04, 2011, 09:10:05 PM
 #12

It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all. The individual that is selling large amounts of coins in single chunks then placing large amounts of coins in very obvious ceiling positions is causing new investors of high net worth to take pause. I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins. These persons will not proceed if bitcoin is manipulated down much further. They are not investing because bitcoin advances liberty and privacy, they are investing for profit. To the individual that is doing this, and I know you are one individual, I am not asking you to hold your coins; go ahead, sell all you want, but what do you gain by preventing new money from coming into the market with these ceilings?

What's your evidence that 1 single person is causing this?

On the technical side you make a good point. There is no reason to buy at current levels for investors. Bitcoin is in a midterm bearmarket.

OP is clearly holding.

tips: 14Z1Bwa8bgEWphjD2qqaXMTY9ucutwuTw8
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
July 04, 2011, 09:51:46 PM
 #13

 Clearly in holding pattern lol

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
Grant
Full Member
***
Offline Offline

Activity: 168



View Profile
July 04, 2011, 09:53:22 PM
 #14

   
Price drop below $10 will set back bitcoin one year or more

Have you ever seen the charts ?

Price below $10 was a MONTH, not a YEAR ago!

A year ago we were at around 0.06$

TheShoura
Member
**
Offline Offline

Activity: 98


Testing


View Profile
July 04, 2011, 10:24:51 PM
 #15

Its the dumbfucks who don't get how a market works, and keep undercutting the majority.. that are causing the price of bitcoin to drop like this


What needs to happen is all these fucks who keep selling lower need to go away, or learn that if you sell AT market price, the market will healthily improve


Right now at $15 each, I don't know how the fuck you idiot miners are okay with such low profits. Realistically at this difficulty, it should be at $30 again, instead we have all these niggers just selling at half off thinking it will benefit them. Little do they know, its actually hurting themselves, and everyone else.

If you would like to send me a tip: 1HVGGWGWgHkyh9K8sntkZmXoiopX8Bsvv8

Security: 8452BCD9
ALWAYS gpg ident the person you're about to exchange with!
gonzas144
Newbie
*
Offline Offline

Activity: 19


View Profile
July 04, 2011, 10:45:35 PM
 #16

I really laught about the idea that are miners that control the price rise or fall ... really nowdays miners are just only people crying for profit, the real price is driven by the speculators, and how much they're willing to pay for.

TheShoura
Member
**
Offline Offline

Activity: 98


Testing


View Profile
July 04, 2011, 10:46:15 PM
 #17

I really laught about the idea that are miners that control the price rise or fall ... really nowdays miners are just only people crying for profit, the real price is driven by the speculators, and how much they're willing to pay for.



I disagree with this, but hey, its an open market.

If you would like to send me a tip: 1HVGGWGWgHkyh9K8sntkZmXoiopX8Bsvv8

Security: 8452BCD9
ALWAYS gpg ident the person you're about to exchange with!
mjoz
Member
**
Offline Offline

Activity: 61


View Profile
July 05, 2011, 12:58:25 AM
 #18

It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all. The individual that is selling large amounts of coins in single chunks then placing large amounts of coins in very obvious ceiling positions is causing new investors of high net worth to take pause. I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins. These persons will not proceed if bitcoin is manipulated down much further. They are not investing because bitcoin advances liberty and privacy, they are investing for profit. To the individual that is doing this, and I know you are one individual, I am not asking you to hold your coins; go ahead, sell all you want, but what do you gain by preventing new money from coming into the market with these ceilings?

You mistaken believe that whoever is manipulating the market gives a shit.  For all you know it could be PayPal coughing up a few $100k to buy up enough coins so that it can stagger huge asks and drive the price down in an attempt to kill bitcoin.  Shocked

Mission Accomplished.

Now bring on the black helicopters.
MikesMechanix
Member
**
Offline Offline

Activity: 70



View Profile
July 05, 2011, 01:10:06 AM
 #19

I wonder if people realize that in the stock market a 10 % profit per annum is considered good?

Currently, the average GPU mining rig is producing something like $10 per day for $2.70 worth of electricity. That's a whopping 270 % profit. Given the competitive nature of mining, it's really unrealistic to expect your $2.70 daily investment to eventually produce more than it would in any other market, which would be somewhere around $.27. In fact, it's probably going to be less than that, unless you are investing in effiecency and looking into things such as producing your own inexpensive energy.

I can't help but feel that crying about miners selling their coins is short-sighted. If you are a miner, not only you should sell or spend most if not almost all of your mined coins as soon as you mined them, but also pray that everyone else does the same, in order to keep the exchange rates down. That's the only way to discourage mining, and thus slow down the increase of difficulty. (Though I think it's only a matter of time until it's all about specialized hardware, only available to those with the capital, anyway.)

Please send your extra Bitcoins to 17miTorGDBUh3yNTYJtodJPw9wzrcNcf6y. Thank you!

Sign up on TradeHill Instant Bitcoin Exchange using this link to get a lifetime 10 % discount on trades!
shads
Full Member
***
Offline Offline

Activity: 224


View Profile WWW
July 05, 2011, 01:23:50 AM
 #20

If it's really a cashed up miner manipulating the price down the MO isn't hard to work out.  Drive price down gradually accumulating USD on the way.  Push a heap of miners out of the market, get a much bigger chunk of the mining booty.  Then later use previously aquired USD to drive price back up.  Just hope in the meantime liquidity hasn't improved a lot or they won't have the reserves to move the price back upwards. 

PoolServerJ Home Page - High performance java mining pool engine

1LezqRatQz7MeNoCVziYwcdwtqeEbvrdAq - http://payb.tc/shads

Quote from: Matthew N. Wright
Stop wasting the internet.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!