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Author Topic: Senate reaches deal to end shutdown, avoid default - CNN.com  (Read 2750 times)
Spekulatius
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October 16, 2013, 04:39:29 PM
 #1

http://edition.cnn.com/2013/10/16/politics/shutdown-showdown/index.html?hpt=hp_t1

Price already falling hard - Was this whole rally built on default fantasies (hint at recent polls in this thread)?
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derpinheimer
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October 16, 2013, 04:41:01 PM
 #2

http://edition.cnn.com/2013/10/16/politics/shutdown-showdown/index.html?hpt=hp_t1

Price already falling hard - Was this whole rally built on default fantasies (hint at recent polls in this thread)?

Wow, that explains it...

Incredible. (I dont mean I expect the price to crash hard, just that this explains the sudden panic.)
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October 16, 2013, 04:42:20 PM
 #3

Bear trap  Smiley
Ivanhoe
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October 16, 2013, 04:43:52 PM
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Selling because the US isn't going to default Roll Eyes, beartraps aren't getting more obvious then this.
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October 16, 2013, 04:50:55 PM
 #5

USG wouldn't have defaulted anyway. It's something else.
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October 16, 2013, 04:52:48 PM
 #6

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
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October 16, 2013, 04:53:14 PM
 #7

I told you so. New war in syria 2016.
Kluge
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October 16, 2013, 04:57:40 PM
 #8

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
Wherever a USG default which wouldn't have happened is being used as reasoning.
derpinheimer
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October 16, 2013, 05:01:15 PM
 #9

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
Wherever a USG default which wouldn't have happened is being used as reasoning.

But.. its.. responsible, in part, for the rise... and, this current drop.. no? lol
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October 16, 2013, 05:02:41 PM
 #10

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
Wherever a USG default which wouldn't have happened is being used as reasoning.

But.. its.. responsible, in part, for the rise... and, this current drop.. no? lol
... No, because the USG doesn't suddenly default just because the debt ceiling isn't raised. Unless day-traders are totally unfamiliar with the USG, it wouldn't have caused movement one way or the other.
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October 16, 2013, 05:03:39 PM
 #11

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
Wherever a USG default which wouldn't have happened is being used as reasoning.

But.. its.. responsible, in part, for the rise... and, this current drop.. no? lol

It's a combination of the gox situation, asic producers and the way the Chinese media reported on the US Govt shut-down.
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October 16, 2013, 05:04:25 PM
 #12

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
Wherever a USG default which wouldn't have happened is being used as reasoning.

But.. its.. responsible, in part, for the rise... and, this current drop.. no? lol

It's a combination of the gox situation, asic producers and the way the Chinese media reported on the US Govt shut-down.

Gox - Ok, thats part of the rise.
ASIC - ?
Chinese media - ?

USG wouldn't have defaulted anyway. It's something else.

What is something else? The reason for the rise, or the reason for the drop?
Wherever a USG default which wouldn't have happened is being used as reasoning.

But.. its.. responsible, in part, for the rise... and, this current drop.. no? lol
... No, because the USG doesn't suddenly default just because the debt ceiling isn't raised. Unless day-traders are totally unfamiliar with the USG, it wouldn't have caused movement one way or the other.

So you think the timing of this announcement and the drop in USD/BTC is completely coincidental? I think not..
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October 16, 2013, 05:05:19 PM
 #13

Uh, so we are raising the debt ceiling... bitcoin down? Yeah no. Watch out bears.
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October 16, 2013, 05:10:28 PM
 #14

probably just normal up and down with the prices like we all have seen many times before with billions of factors figuring into the equation

Habeler876
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October 16, 2013, 05:11:00 PM
 #15

no effect on exchange rate here imo..... we all knew there would be no default anyway.

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October 16, 2013, 05:14:32 PM
 #16

Why does everyone panic sell or panic buy whenever the U.S. government does something? I thought the bitcoin rise was about china, investment trusts, and increasing bit coin adoption, and wealth issues all over the globe. I thought bitcoin was worldwide.
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October 16, 2013, 05:19:31 PM
 #17

Gox - Ok, thats part of the rise.
ASIC - ?
Chinese media - ?

ASIC: Producers are in China and they have to maintain a balance of funds to pay Bills, they probably have a mixture of yuan/usd/bitcoin and they sold usd for the other two.
Chinese media: Is genuinely concerned about the strength of the dollar and probably moved a lot of ASIC early adopters to hoard their coins this month, and brought more investors.
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October 16, 2013, 05:22:20 PM
 #18

the ending is funny  Tongue

CoinDiver
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October 16, 2013, 05:23:32 PM
 #19

USG wouldn't have defaulted anyway. It's something else.

Perception.

http://mises.org/daily/3229
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Spekulatius
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October 16, 2013, 05:25:43 PM
 #20

Why does everyone panic sell or panic buy whenever the U.S. government does something? I thought the bitcoin rise was about china, investment trusts, and increasing bit coin adoption, and wealth issues all over the globe. I thought bitcoin was worldwide.

The Chinese volume is virtually inflated by the Chinese exchanges' 0% foo on trades policy and massive bot activity therefore. You cannot compare Bitstamp or Gox volume to Chinese exchanges.
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