BTCtrader71
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June 13, 2014, 12:29:38 AM |
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And correct me if I'm wrong, but this will be the first time that the US Government will have participated in a bona-fide, genuine, real life official BITCOIN TRANSACTION. Doesn't that, in a way, lend credibility? Sure, I know, they just did it to get if off their hands. Still ... on July 1, the US Government will have officially transacted in bitcoin. That's a special day. Not quite as special as Bitcoin Pizza Day, but has a similar-ish meaning. Won't be long before they're paying Lockheed Martin in bitcoin, just you wait ... (jk about that last part. sorta. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) )
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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BitDreams
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June 13, 2014, 12:31:50 AM |
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usually someone should pop up with a graph and a TA now, what happened? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) it's really funny. I guess some TA people will try to align the previous SR flash crash with the current one and predict the new rally starts in 3 days ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) however, I think we will see some volatility until the coins are actually sold and the market is sure they will not be dumped. I think we will trad around 600 USD for the next few weeks... I was targeting 700 three days from now. Thinking I got that one wrong which is why I just HODL. It is fun to chart though.
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aminorex
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Sine secretum non libertas
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June 13, 2014, 02:39:20 AM |
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Won't be long before they're paying Lockheed Martin in bitcoin, just you wait ...
They will have to buy them on the market first. When the U.S. goes bankrupt, they are going to regret having sold enough bitcoin to pay off the national debt, for a present value similar to filling up one SR-71's fuel tank.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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seleme
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Duelbits.com
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June 13, 2014, 03:32:30 AM |
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There's probably some law that force them to sell any confiscated goods. Just like they sell other stuff, they have to sell Bitcoin too, I guess.
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Siegfried
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June 13, 2014, 03:42:31 AM |
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And correct me if I'm wrong, but this will be the first time that the US Government will have participated in a bona-fide, genuine, real life official BITCOIN TRANSACTION. Doesn't that, in a way, lend credibility? Sure, I know, they just did it to get if off their hands. Still ... on July 1, the US Government will have officially transacted in bitcoin. That's a special day. Not quite as special as Bitcoin Pizza Day, but has a similar-ish meaning. Won't be long before they're paying Lockheed Martin in bitcoin, just you wait ... (jk about that last part. sorta. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ) That's a great point.
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BTCtrader71
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June 13, 2014, 03:49:28 AM |
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When the U.S. goes bankrupt, they are going to regret having sold enough bitcoin to pay off the national debt, for a present value similar to filling up one SR-71's fuel tank.
I think we should petition Janet Yellen to have the Federal Reserve buy one 3000 bitcoin chunk at the auction and put it in cold storage. Just one. Not because they will do it, but so we can say I told you so in 5-10 years.
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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AlexGR
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June 13, 2014, 04:15:34 AM |
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I'm glad to see the price go down before the auction. It only takes $$$ out of the hands of the feds and makes the buy price more attractive for large buyers who are also future hodlers.
This is a classic game of the crashing game where the Elite, through the government agencies and media, actually make the news (and hence the price). They can short bitcoin for the last weeks and then, at the precise moment that they desire, BANG: " We are dumping BTCs"... price tumbles, they buy back at a lower level through the sheer volume of the sheepish panic sellers = epic win. Anyone who thinks this kind of move is randomly chosen, is... well... naive - to put it mildly. There are two extremely valued abilities in finance. The second most valued is knowing the future, because you can then play the market with confidence. The first most valued ability is actually controlling the future. The Elite control the future. They create scenarios and "news" that capitalize on the "news-addiction" of traders that move like a herd, influencing the price towards the desired way. That's in most markets btw, it isn't something new. It's just now been played out with BTC as well. Again, this is a classic case of controlling the future through the fbi "event" and the associated "news". The pattern is repeatable. One must sell a few BTCs after new peaks and have cash standing by to buy the dips, relieving weak-handed traders who panic sell. In this way one can increase their BTC holdings while also acting as a stabilization force for the price of BTC.
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Torque
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June 13, 2014, 04:53:18 AM |
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I'm glad to see the price go down before the auction. It only takes $$$ out of the hands of the feds and makes the buy price more attractive for large buyers who are also future hodlers.
This is a classic game of the crashing game where the Elite, through the government agencies and media, actually make the news (and hence the price). They can short bitcoin for the last weeks and then, at the precise moment that they desire, BANG: " We are dumping BTCs"... price tumbles, they buy back at a lower level through the sheer volume of the sheepish panic sellers = epic win. Anyone who thinks this kind of move is randomly chosen, is... well... naive - to put it mildly. There are two extremely valued abilities in finance. The second most valued is knowing the future, because you can then play the market with confidence. The first most valued ability is actually controlling the future. The Elite control the future. They create scenarios and "news" that capitalize on the "news-addiction" of traders that move like a herd, influencing the price towards the desired way. That's in most markets btw, it isn't something new. It's just now been played out with BTC as well. Again, this is a classic case of controlling the future through the fbi "event" and the associated "news". The pattern is repeatable. One must sell a few BTCs after new peaks and have cash standing by to buy the dips, relieving weak-handed traders who panic sell. In this way one can increase their BTC holdings while also acting as a stabilization force for the price of BTC. At least someone else gets what's really going on. I'm more interested in what the situation will be like 3-5 years from now. The so-called bitcoin experts say that as market cap grows, bitcoin will become less volatile and thus a much more stable form of currency. But I ask, if the pigs and sheep are still so easily swayed by FUD even when price/btc is at say $10k or even $40k, will bitcoin ever really be less volatile? In other words if the volatility stays relative to the price (eg, still doing +/- 20% daily swings even 3-5 yrs in the future), then will bitcoin ever really be stable? After what I witnessed today, I'm starting to seriously have my doubts.
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gentlemand
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Welt Am Draht
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June 13, 2014, 04:57:11 AM |
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I assume over time these cycles are going to squeeze most of the headless chickens out of the picture. I sure as shit hope so anyway because it's starting to well and truly get on my nerves.
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Wary
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June 13, 2014, 05:09:31 AM |
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if the pigs and sheep are still so easily swayed by FUD even when price/btc is at say $10k or even $40k, will bitcoin ever really be less volatile? Dollar and yen is less volatile. Why? Either forex pigs&sheeps are different from bitcoin ones, or size does matter.
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Fairplay medal of dnaleor's trading simulator. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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molecular
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June 13, 2014, 05:50:17 AM |
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usually someone should pop up with a graph and a TA now, what happened? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Everybody busy buying.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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molecular
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June 13, 2014, 05:53:46 AM |
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Won't be long before they're paying Lockheed Martin in bitcoin, just you wait ...
They will have to buy them on the market first. When the U.S. goes bankrupt, they are going to regret having sold enough bitcoin to pay off the national debt, for a present value similar to filling up one SR-71's fuel tank. They'd just be like: "fuck it, let's take those 144k from Ulbricht already".
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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rpietila (OP)
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June 13, 2014, 07:21:26 AM |
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Crony auction at its best. Too short notice for anyone with BTC to attend. Until next monday I am supposed to have created a bank account in the U.S., and have transferred 100% of my anticipated total bid amount into it in USD, the proceed of the bitcoin sales that I have made in the space of this few hours/days? Sorry. This is going to achieve exactly what was intended. Almost no bids, and the ones rock-bottom. Bad publicity, resulting panic selling. Bitcoins of the people going to the hands of banksters cheaply. But really - what else did you expect? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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Parazyd
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June 13, 2014, 07:23:11 AM |
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What's your take on the 51% situation with GHash.io. Do you think it will harm us?
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rpietila (OP)
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June 13, 2014, 07:31:26 AM |
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What's your take on the 51% situation with GHash.io. Do you think it will harm us?
No. Nothing will harm Bitcoin. The short term events may provide better entry prices (like the auction). I just can't make myself worried about the 51%.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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falllling
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June 13, 2014, 07:34:25 AM |
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What's your take on the 51% situation with GHash.io. Do you think it will harm us?
Yes, it will kill bitcoin pretty fast, no one want GHash Coin
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cdlsrm
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June 13, 2014, 08:35:55 AM |
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There's probably some law that force them to sell any confiscated goods. Just like they sell other stuff, they have to sell Bitcoin too, I guess.
So are they also selling seized drugs? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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Its About Sharing
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Antifragile
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June 13, 2014, 09:10:01 AM |
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Crony auction at its best. Too short notice for anyone with BTC to attend. Until next monday I am supposed to have created a bank account in the U.S., and have transferred 100% of my anticipated total bid amount into it in USD, the proceed of the bitcoin sales that I have made in the space of this few hours/days? Sorry. This is going to achieve exactly what was intended. Almost no bids, and the ones rock-bottom. Bad publicity, resulting panic selling. Bitcoins of the people going to the hands of banksters cheaply. But really - what else did you expect? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) That is an interesting take and I gave the sale little thought. But why would the government do the auction so quick? Would they want to receive top dollar? As usual, seems like they are up to no good. It will be interesting to see the results of the auction and if they give up who the buyers are, which I doubt. I'm sure other government agencies will be hiding behind fictitious names here... Regarding the price action yesterday and today. The move down had huge volume and the bounce up seems to be light. I'm afraid this is just a bounce. That said, I think big money does not let this sink (for any lengthy time anyway) below 550 ish. Flash crashes are very hard to enter on, and I think that will be the low points. I highly doubt we see lengthy sideways action down low. Big money probably going to protect it's investment.
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BTC = Black Swan. BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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tarmi
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June 13, 2014, 09:12:35 AM |
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that auction is intended for US citizens only, obviously.
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