rpietila Wall Observer - the Quality TA Thread ;)

[BlindMayorBitcorn]

I agree completely, Satoshi needs to do something with those coins, it would be the single biggest boost to Bitcoin. Here is what i recommmend:

1. Make Goxed account holders whole and any other bitcoin disaster where addresses and accounts are known (yes I was Goxed
2. Announce the ultimate give away. Using a well thought out strategy, pay out all remaining Bitcoins to current holders, excluding largest 10% of addresses.

Price would sky rocket!

Price would drop- millions of coins will be put on the market.

Basically what will happen when Ross's next stash gets auctioned off

 

yeah cause that's what happened the last time the 30k got auctioned off right

There will be slightly more this time around

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[brg444]

I agree completely, Satoshi needs to do something with those coins, it would be the single biggest boost to Bitcoin. Here is what i recommmend:

1. Make Goxed account holders whole and any other bitcoin disaster where addresses and accounts are known (yes I was Goxed
2. Announce the ultimate give away. Using a well thought out strategy, pay out all remaining Bitcoins to current holders, excluding largest 10% of addresses.

Price would sky rocket!

Price would drop- millions of coins will be put on the market.

Basically what will happen when Ross's next stash gets auctioned off

 

yeah cause that's what happened the last time the 30k got auctioned off right

There will be slightly more this time around

And there will be more buyers as well. These coins are not going to hit the market.

[Trolololo]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

[BlindMayorBitcorn]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

[JayJuanGee]

True. Although I think there are ways to provably burn bitcoins so everyone can be confident they will never be retrieved. This conversation has me wondering what Satoshi is going to do with his stash, and what I would do if I were in his shoes. Something that would benefit bitcoin. Letting them sit forever unused would cause uncertainty in the market for reasons described. So, either burn them or use them for something. But what, and when?
 

I agree completely, Satoshi needs to do something with those coins, it would be the single biggest boost to Bitcoin. Here is what i recommmend:


1. Make Goxed account holders whole and any other bitcoin disaster where addresses and accounts are known (yes I was Goxed
2. Announce the ultimate give away. Using a well thought out strategy, pay out all remaining Bitcoins to current holders, excluding largest 10% of addresses.

Price would sky rocket!

DieJohnny:  I believe that you have good intentions with these suggestions; however, both of them seem to be quite pie in the sky and far-fetched. 

1st:  Good idea, yet determinations of damages and people screwed over in various bitcoin scams would be quite the endeavor - and would likely need to appoint some kind of administrator to sort out any determinations regarding who receives bitcoins and how much each of the screwed ones should receive.  A big ass job in order to do it properly.

2nd:  Here you are suggesting distribution to people who have already invested in BTC, and there seems to be at least a couple of problems with this.  On the technical end, difficult to determine how many coins people hold because some of the coins are held on the blockchain and other coins are held in various centralized systems (exchanges and other sites).  On the practical end, seems kind of arbitrary to exclude the top 10% of holders, and on the fairness end, NOT sure if only bitcoin holders should deserve some kind of bitcoin distribution?  There may be people and/or institutions (that do NOT already hold bitcoins) that are more deserving to receive some kind of BTC distribution.

[klee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

[brg444]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

1. High volume bottom has been established. Up 30 odd % since.
2. This is speculation.
3. Mining as an industry is thriving. Competition amongst industrial miners still exist and will ensure decentralization.
4. You have no idea how many of these are sold on the market. Recent reports suggest larger scale miners are either holding them or selling them OFF-market.

Try and come up with better FUD next time

[BlindMayorBitcorn]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

I suspected this was happening...

[brg444]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

1. High volume bottom has been established. Up 30 odd % since.
2. This is speculation.
3. Mining as an industry is thriving. Competition amongst industrial miners still exist and will ensure decentralization.
4. You have no idea how many of these are sold on the market. Recent reports suggest larger scale miners are either holding them or selling them OFF-market.

Try and come up with better FUD next time

How old are you? "FUD"??

Character attacks are not going to dig you out of your hole

[JayJuanGee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

Analyze your FUD?    You come off as a troll.

1) bubble depends on a historical perspective, so cannot determine if your statement is correct from the current state of bitcoin.

2) You have no facts to substantiate what's going on with the 650K BTC.  It is equally as possible (if NOT more) that those 650k BTC had been sufficiently liquidated and dispersed in 2011 rather than in 2014.

3) Movement towards more centralization of mining.. so what?  There always are going to be various influxes of big money into profitable space.  More centralization of mining does NOT cause bitcoin to die in the short or medium term, and surely as this "centralization" of mining progresses, there will likely be adjustments in the protocol to account for if some dangers develop...

4) Yes, 3600 each day, and 2 years ago, it was 7200 a day, and in less than 2 years, it will be 1800 a day.. What's the problem?  These are already known aspects of the btc space and price will continue to adjust for these ongoing occurrences.

[JayJuanGee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

[brg444]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

probably enough to accumulate off-market as long as possible

[klee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

2bn

[JayJuanGee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

probably enough to accumulate off-market as long as possible

Based on a lot of what I am reading, I get the sense that there are quite a few entities that are engaging in a form of accumulation while attempting to hold off on affecting the market price (or to affected it as little as possible so that they can continue to accumulate).  Seems an interesting balancing because I am sure that some of these entities, such as Tim Draper's nearly 30k accumulation of coins, may be getting anxious to pump up the BTC prices in order to be resting clearly in the black, rather than in the red.

[JayJuanGee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

Analyze your FUD?    You come off as a troll.

1) bubble depends on a historical perspective, so cannot determine if your statement is correct from the current state of bitcoin.

2) You have no facts to substantiate what's going on with the 650K BTC.  It is equally as possible (if NOT more) that those 650k BTC had been sufficiently liquidated and dispersed in 2011 rather than in 2014.

3) Movement towards more centralization of mining.. so what?  There always are going to be various influxes of big money into profitable space.  More centralization of mining does NOT cause bitcoin to die in the short or medium term, and surely as this "centralization" of mining progresses, there will likely be adjustments in the protocol to account for if some dangers develop...

4) Yes, 3600 each day, and 2 years ago, it was 7200 a day, and in less than 2 years, it will be 1800 a day.. What's the problem?  These are already known aspects of the btc space and price will continue to adjust for these ongoing occurrences.

Ok good analysis.

I am certainly a troll being paid by Apple to ask questions about the state of Bitcoin. I'm so rich, you have no idea

There is a little bit of humor in your response to being a troll is to spread more disinformation...       

By the way, being rich seems to be relative, and so long as you can comfortably live within your means and to be sufficiently fed, housed, happy and secure, then I suppose you are "rich."

[brg444]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

probably enough to accumulate off-market as long as possible

Based on a lot of what I am reading, I get the sense that there are quite a few entities that are engaging in a form of accumulation while attempting to hold off on affecting the market price (or to affected it as little as possible so that they can continue to accumulate).  Seems an interesting balancing because I am sure that some of these entities, such as Tim Draper's nearly 30k accumulation of coins, may be getting anxious to pump up the BTC prices in order to be resting clearly in the black, rather than in the red.

I'm sure such rich entities who believe in BTC enough to accumulate large amounts are not too concerned with near-term profit.

They are going to milk the cow until the very last drop and only then will they drive up market demand.

Of course I do not claim they have total control over this market and certainly some other forces increasing market demand could suspend their accumulation. My impression is that they are very wary of driving the market up since the moment we enter a clear bull market, miners and large holders will cut off their supply line and keep the coins for themselves.

[JayJuanGee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

2bn

At this time, no one is investing $2 billion into bitcoin b/c otherwise BTC prices would be going through the roof.  $2 billion is more than 40% of bitcoin's current market cap.

Even attempting to currently invest $500 million into BTC would probably have a very considerable upward pressure on BTC prices.  I am NOT sure how such an investment of let's say $500 million would be able to be hidden or to NOT cause upward BTC price slippage.

Let's say that the company is a $2billion company, and they decide to invest 10% into bitcoin (that would be fairly aggressive), then that would be $200 million.  Still I would find it difficult to hide or NOT to cause upward BTC price slippage with that amount.  So maybe they are investing 1%, which would be $20million?  Still bullish, but possible to hide, in my humble opinion.

[brg444]

At this time, no one is investing $2 billion into bitcoin b/c otherwise BTC prices would be going through the roof.  $2 billion is more than 40% of bitcoin's current market cap.

Even attempting to currently invest $500 million into BTC would probably have a very considerable upward pressure on BTC prices.  I am NOT sure how such an investment of let's say $500 million would be able to be hidden or to NOT cause upward BTC price slippage.

Let's say that the company is a $2billion company, and they decide to invest 10% into bitcoin (that would be fairly aggressive), then that would be $200 million.  Still I would find it difficult to hide or NOT to cause upward BTC price slippage with that amount.  So maybe they are investing 1%, which would be $20million?  Still bullish, but possible to hide, in my humble opinion.

You have to consider that most transactions are occuring off-market currently.

Several things point to an immense OTC market that could very well satisfy million dollars interest while having little to no impact on exchanges prices

[klee]

Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.

Thank you.

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

Analysis this

I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities..

How much of their billion dollar budgets are going into BTC?  .1%, 1% 10%?  Makes a difference, no?

2bn

At this time, no one is investing $2 billion into bitcoin b/c otherwise BTC prices would be going through the roof.  $2 billion is more than 40% of bitcoin's current market cap.

Even attempting to currently invest $500 million into BTC would probably have a very considerable upward pressure on BTC prices.  I am NOT sure how such an investment of let's say $500 million would be able to be hidden or to NOT cause upward BTC price slippage.

Let's say that the company is a $2billion company, and they decide to invest 10% into bitcoin (that would be fairly aggressive), then that would be $200 million.  Still I would find it difficult to hide or NOT to cause upward BTC price slippage with that amount.  So maybe they are investing 1%, which would be $20million?  Still bullish, but possible to hide, in my humble opinion.

S. America bank will buy slowly on behalf of a very known one (they don't want to be seen).
Can't say more nor I am 100% sure, though my source is very reliable.

They will invest 2bn.

Maybe it is not true, who knows?

[JayJuanGee]

At this time, no one is investing $2 billion into bitcoin b/c otherwise BTC prices would be going through the roof.  $2 billion is more than 40% of bitcoin's current market cap.

Even attempting to currently invest $500 million into BTC would probably have a very considerable upward pressure on BTC prices.  I am NOT sure how such an investment of let's say $500 million would be able to be hidden or to NOT cause upward BTC price slippage.

Let's say that the company is a $2billion company, and they decide to invest 10% into bitcoin (that would be fairly aggressive), then that would be $200 million.  Still I would find it difficult to hide or NOT to cause upward BTC price slippage with that amount.  So maybe they are investing 1%, which would be $20million?  Still bullish, but possible to hide, in my humble opinion.

You have to consider that most transactions are occuring off-market currently.

Several things point to an immense OTC market that could very well satisfy million dollars interest while having little to no impact on exchanges prices

Agreed that this is one of the problems with the exchange prices. 

By the way, the OTC transactions should show up on the blockchain?  However, it seems that we are going to suffer from some difficulties in knowing the price of such blockchain transactions and knowing whether such transactions are changing ownership hands.