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Author Topic: Where are all these bought bitcoins going?  (Read 2646 times)
ripper234
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Ron Gross


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January 09, 2012, 09:47:39 PM
 #21

Remember when only churches had the right to marry people (I don't either -- it was hundreds of years ago).

In Israel, if you're a Jew, you can only be married by a rabby, not by the state Sad

My wife and I actually flew to Europe to get married because we wanted a civil marriage. Sad.

Please do not pm me, use ron@bitcoin.org.il instead
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DeathAndTaxes
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January 09, 2012, 09:52:40 PM
 #22

Assuming you people are correct about it being a distributed buying, it's so "all at once" that something must have triggered it.  It took a few days but not long enough to convince people it was a long term trend so it's not just everyone hopping on the bandwagon and buying.  So something made enough people suddenly want to buy it within like a 2-3 day period to raise it by $2+.  Anyone have any ideas as to what it was?

Why does the stock market trade sideway for 3 months and then move more in a week then it did in the prior 10? Sometimes rallies (and corrections) are self fulfilling. 
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January 09, 2012, 10:53:05 PM
 #23

I think it is just pump and dump. To get most of the lemmings to start buying you pump up the price. You then can dump many bitcoins this way.

It is the only thing that makes sense. I have seen 50K bidwalls get sold into at around the $2.00 range, they needed to unload many of these.

It is easy to get the price moving up by just buying a certain amount of coins, then you get the lemmings to start buying into it, thinking the price is going to raise above $100. Even makes me get the urge to start buying, but I am smart enough to know that bitcoin prices will go nowhere, and every failed rally attempt will always go back to new lows.

Eventually they will have to sell and let the price drop back down again.

Happens everytime, watched it everytime from the high of $30.00.

People with money can make money very easily, this is just a way to do it.

Bitcoins are also not used up like commodities, so all the bitcoins transfered around are still around. Everyone who held off during this rally, need to unload.

There will be lots of sell pressure now, good chance will we see $2.00 again. 


Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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January 09, 2012, 11:00:48 PM
 #24

I think it is just pump and dump. To get most of the lemmings to start buying you pump up the price. You then can dump many bitcoins this way.

It is the only thing that makes sense. I have seen 50K bidwalls get sold into at around the $2.00 range, they needed to unload many of these.

It is easy to get the price moving up by just buying a certain amount of coins, then you get the lemmings to start buying into it, thinking the price is going to raise above $100. Even makes me get the urge to start buying, but I am smart enough to know that bitcoin prices will go nowhere, and every failed rally attempt will always go back to new lows.

Eventually they will have to sell and let the price drop back down again.

Happens everytime, watched it everytime from the high of $30.00.

People with money can make money very easily, this is just a way to do it.

Bitcoins are also not used up like commodities, so all the bitcoins transfered around are still around. Everyone who held off during this rally, need to unload.

There will be lots of sell pressure now, good chance will we see $2.00 again. 



Why only $2.00 and not lower? /sarcasm
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January 10, 2012, 12:03:20 AM
 #25

stay at just barely above the average cost of electricity on a mining rig
Bitcoins will be around the cost to mine forever because the cost to mine adjusts itself to the market value (via the Difficulty calculation and basic profit principles); the market value itself is in no way stabilized by this.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them.
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January 10, 2012, 12:24:57 AM
 #26

Remember when only churches had the right to marry people (I don't either -- it was hundreds of years ago).

In Israel, if you're a Jew, you can only be married by a rabby, not by the state Sad

My wife and I actually flew to Europe to get married because we wanted a civil marriage. Sad.

This is a prime example of the inconveniences generated from traditionalism trying desperately to cling to obsolete methods.

In a similar vein, my prediction is that soon people will have to relocate en masse due to their governments trying their best to enforce obsolete methods of trade.

The ONLY constant is change.  Never say never or always, but MAYBE, just maybe...

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
LTC:  LRL6vb6XBRrEEifB73DiEiYZ9vbRy99H41  NMC:  NGb2spdTGpWj8THCPyCainaXenwDhAW1ZT
Crypt_Current
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January 10, 2012, 12:27:05 AM
 #27

I think it is just pump and dump. To get most of the lemmings to start buying you pump up the price. You then can dump many bitcoins this way.

It is the only thing that makes sense. I have seen 50K bidwalls get sold into at around the $2.00 range, they needed to unload many of these.

It is easy to get the price moving up by just buying a certain amount of coins, then you get the lemmings to start buying into it, thinking the price is going to raise above $100. Even makes me get the urge to start buying, but I am smart enough to know that bitcoin prices will go nowhere, and every failed rally attempt will always go back to new lows.

Eventually they will have to sell and let the price drop back down again.

Happens everytime, watched it everytime from the high of $30.00.

People with money can make money very easily, this is just a way to do it.

Bitcoins are also not used up like commodities, so all the bitcoins transfered around are still around. Everyone who held off during this rally, need to unload.

There will be lots of sell pressure now, good chance will we see $2.00 again. 



This is the most ridiculous thing I have read all day, so far.

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
LTC:  LRL6vb6XBRrEEifB73DiEiYZ9vbRy99H41  NMC:  NGb2spdTGpWj8THCPyCainaXenwDhAW1ZT
antoineph
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January 10, 2012, 12:27:46 AM
 #28

Remember when only churches had the right to marry people (I don't either -- it was hundreds of years ago).

In Israel, if you're a Jew, you can only be married by a rabby, not by the state Sad

My wife and I actually flew to Europe to get married because we wanted a civil marriage. Sad.

This is a prime example of the inconveniences generated from traditionalism trying desperately to cling to obsolete methods.

In a similar vein, my prediction is that soon people will have to relocate en masse due to their governments trying their best to enforce obsolete methods of trade.

The ONLY constant is change.  Never say never or always, but MAYBE, just maybe...

u just said never
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this statement is false


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January 10, 2012, 12:30:40 AM
 #29

I think it is just pump and dump. To get most of the lemmings to start buying you pump up the price. You then can dump many bitcoins this way.

It is the only thing that makes sense. I have seen 50K bidwalls get sold into at around the $2.00 range, they needed to unload many of these.

It is easy to get the price moving up by just buying a certain amount of coins, then you get the lemmings to start buying into it, thinking the price is going to raise above $100. Even makes me get the urge to start buying, but I am smart enough to know that bitcoin prices will go nowhere, and every failed rally attempt will always go back to new lows.

Eventually they will have to sell and let the price drop back down again.

Happens everytime, watched it everytime from the high of $30.00.

People with money can make money very easily, this is just a way to do it.

Bitcoins are also not used up like commodities, so all the bitcoins transfered around are still around. Everyone who held off during this rally, need to unload.

There will be lots of sell pressure now, good chance will we see $2.00 again. 



This is the most ridiculous thing I have read all day, so far.

+100

it's alright crypt. you and i know that this is bullshit. these kinds of posts confuse everyone else and make them make the wrong decisions, which makes you and i money  Grin

this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
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Crypt_Current
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January 10, 2012, 01:05:31 AM
 #30

I think it is just pump and dump. To get most of the lemmings to start buying you pump up the price. You then can dump many bitcoins this way.

It is the only thing that makes sense. I have seen 50K bidwalls get sold into at around the $2.00 range, they needed to unload many of these.

It is easy to get the price moving up by just buying a certain amount of coins, then you get the lemmings to start buying into it, thinking the price is going to raise above $100. Even makes me get the urge to start buying, but I am smart enough to know that bitcoin prices will go nowhere, and every failed rally attempt will always go back to new lows.

Eventually they will have to sell and let the price drop back down again.

Happens everytime, watched it everytime from the high of $30.00.

People with money can make money very easily, this is just a way to do it.

Bitcoins are also not used up like commodities, so all the bitcoins transfered around are still around. Everyone who held off during this rally, need to unload.

There will be lots of sell pressure now, good chance will we see $2.00 again. 



This is the most ridiculous thing I have read all day, so far.

+100

it's alright crypt. you and i know that this is bullshit. these kinds of posts confuse everyone else and make them make the wrong decisions, which makes you and i money  Grin

I'm a bit ashamed to admit that they actually waste extra time of mine, because they force me to think about whether the post was initiated because A) The poster is attempting reverse psychology on the market, or B) The poster genuinely does not have a global enough understanding of life to see the potential of cryptocurrency.

One reason is sly at best; the other is just downright tragic.

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
LTC:  LRL6vb6XBRrEEifB73DiEiYZ9vbRy99H41  NMC:  NGb2spdTGpWj8THCPyCainaXenwDhAW1ZT
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January 10, 2012, 05:36:34 AM
 #31

Assuming you people are correct about it being a distributed buying, it's so "all at once" that something must have triggered it.  It took a few days but not long enough to convince people it was a long term trend so it's not just everyone hopping on the bandwagon and buying.  So something made enough people suddenly want to buy it within like a 2-3 day period to raise it by $2+.  Anyone have any ideas as to what it was?

This 19 Dec 2011 article on a blog had an interesting analysis and prediction at the end. Assuming people started opening accounts and wiring money with the holidays and banks closed, etc. then it would have taken about that many days to start the breakout on 1 Jan.

Quote
Taking the current price of $4.00, the 200 day moving average of about $8.50 and extrapolating this upleg with a 12x 200dma top we could see a price of around $80.00 per BitCoin. Is this speculative? Yes. Would I bet on seeing $80 per BitCoin by around June or July? Maybe if the odds are around 5%. But I would take a bet for BitCoins to hit $7.50 by June or July at around a 50-70% probability.

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January 10, 2012, 05:42:08 AM
 #32

Assuming you people are correct about it being a distributed buying, it's so "all at once" that something must have triggered it.  It took a few days but not long enough to convince people it was a long term trend so it's not just everyone hopping on the bandwagon and buying.  So something made enough people suddenly want to buy it within like a 2-3 day period to raise it by $2+.  Anyone have any ideas as to what it was?

This 19 Dec 2011 article on a blog had an interesting analysis and prediction at the end. Assuming people started opening accounts and wiring money with the holidays and banks closed, etc. then it would have taken about that many days to start the breakout on 1 Jan.

Quote
Taking the current price of $4.00, the 200 day moving average of about $8.50 and extrapolating this upleg with a 12x 200dma top we could see a price of around $80.00 per BitCoin. Is this speculative? Yes. Would I bet on seeing $80 per BitCoin by around June or July? Maybe if the odds are around 5%. But I would take a bet for BitCoins to hit $7.50 by June or July at around a 50-70% probability.

Bill, i don't think Trace's article can be pinpointed as the trigger.

Many of us on our blogs and here within the community were calling for the bottom.  it was quite evident that the selling pressure had abated and there were plenty of indicators that i've outlined ad nauseum around here that called for the bottom.

it was time.
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