Up from here or more FUD?

[bitcoinsrus]

What do you guys think about the recent crossing to 500?  Is this a good sign or is there more FUD to come (that will bring prices sub 400 again)?

[co5hike]

I think 400 is more likely, I fear the mtgox coins will be sold.

But as some say, when is hype, sell, and when fear, buy.

[dreamspark]

I think 400 is more likely, I fear the mtgox coins will be sold.

But as some say, when is hype, sell, and when fear, buy.

Gox coins won't be sold for a while so I wouldn't factor that into your short term predictions.

To OP who knows all it takes is another China FUD bomb and the sheep will panic. The charts and sentiment are both becoming more bullish by the day though.

[Cassius]

I think 400 is more likely, I fear the mtgox coins will be sold.

But as some say, when is hype, sell, and when fear, buy.

Gox coins won't be sold for a while so I wouldn't factor that into your short term predictions.

To OP who knows all it takes is another China FUD bomb and the sheep will panic. The charts and sentiment are both becoming more bullish by the day though.

This sounds about right. Remember, though, that there are two large stashes of Gox coins: the 200,000 that were "found" and the 650,000 that were stolen. Who knows what the plan is for the latter.

[dreamspark]

I think 400 is more likely, I fear the mtgox coins will be sold.

But as some say, when is hype, sell, and when fear, buy.

Gox coins won't be sold for a while so I wouldn't factor that into your short term predictions.

To OP who knows all it takes is another China FUD bomb and the sheep will panic. The charts and sentiment are both becoming more bullish by the day though.

This sounds about right. Remember, though, that there are two large stashes of Gox coins: the 200,000 that were "found" and the 650,000 that were stolen. Who knows what the plan is for the latter.

Who's to say that the other 650,000 weren't stolen in 2011 and sold then and is one of the reasons for the long bear market that year? If you stole 650,000 coins when they were worth a dollar or two, would you really be able to not hav spent or cashed in on any until now? Just speculation obviously.

[Dalmar]

Who's to say that the other 650,000 weren't stolen in 2011 and sold then and is one of the reasons for the long bear market that year? If you stole 650,000 coins when they were worth a dollar or two, would you really be able to not hav spent or cashed in on any until now? Just speculation obviously.

How could they be sold on Gox in 2011? Wouldn't the thief(s) be identifiable through blockchain forensics and have their trading accounts closed? It just doesn't make much sense. IMO, the 2011 downtrend looked more like people just being worried that they invested in hot air as bitcoin wasn't useful for much back then.

[Cassius]

You're right that the coins could have been stolen and cashed out at any time, or most likely slowly over time, putting long-term downward pressure on the market.

[gentlemand]

Trying to guess what on Earth happened with Gox is pointless. We'll have to wait for a proper explanation. I'm not totally convinced that will ever arrive.

[tinus42]

I think 400 is more likely, I fear the mtgox coins will be sold.

But as some say, when is hype, sell, and when fear, buy.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”


― Warren Buffett

[JimboToronto]

is there more FUD to come (that will bring prices sub 400 again)?

Of course there will be more FUD from those with an agenda.

It will probably only affect the inexperienced though.

After a while, it becomes like the little boy who cried wolf. Nobody takes it seriously any more.

[lynn_402]

Who's to say that the other 650,000 weren't stolen in 2011 and sold then and is one of the reasons for the long bear market that year? If you stole 650,000 coins when they were worth a dollar or two, would you really be able to not hav spent or cashed in on any until now? Just speculation obviously.

How could they be sold on Gox in 2011? Wouldn't the thief be identifiable through blockchain forensics and have their trading accounts closed?

Given Mt.Gox's incompetence, it could easily have slipped under their eyes, or it might have been sold off-market, or even used to buy boatloads of drugs on Silk Road.

[master-P]

What do you guys think about the recent crossing to 500?  Is this a good sign or is there more FUD to come (that will bring prices sub 400 again)?

There's always more FUD to come. I wonder which btc service is going to lose all their customer's coins next week. Or which bank is going to close accounts that deal with btc. Or which government warns people not to use btc.

It's like a nonstop tug-of-war between the supporters and detractors.

[uhoh]

Who's to say that the other 650,000 weren't stolen in 2011 and sold then and is one of the reasons for the long bear market that year? If you stole 650,000 coins when they were worth a dollar or two, would you really be able to not hav spent or cashed in on any until now? Just speculation obviously.

How could they be sold on Gox in 2011? Wouldn't the thief be identifiable through blockchain forensics and have their trading accounts closed?

Given Mt.Gox's incompetence, it could easily have slipped under their eyes, or it might have been sold off-market, or even used to buy boatloads of drugs on Silk Road.

This.

Would not be surprised at all if Gox's own stolen coins were liquidated on their own platform. I don't think people are giving enough thought to the unsurpassed magnitude of Mark's stupidity.

[lynn_402]

This.

Would not be surprised at all if Gox's own stolen coins were liquidated on their own platform. I don't think people are giving enough thought to the unsurpassed magnitude of Mark's stupidity.

Haha, well said.
I guess he was not prepared for his small-ish Magic the Gathering cards trading site to become the central hub of a multi-billion dollar economy. (This does not excuse him one bit though.)

[honorem]

Think for your selfs why whould a trading site sell all of its bitcoins onn a other trading site....

[Cassius]

Think for your selfs why whould a trading site sell all of its bitcoins onn a other trading site....

I think you might have missed the point here.

[lynn_402]

Think for your selfs why whould a trading site sell all of its bitcoins onn a other trading site....

It does not matter where they sell them, it will still give a massive amount of underpriced bitcoins to new hands who might sell part of them for quick profits. However, I don't believe it will have that much of an impact. The buyers probably won't sell for quick profits, since after unloading 10% of their stash the price will probably crash to half of its value. It would be wiser for them to hold long term.

[piramida]

no wait we are still waiting for sheepmarket coins to be sold and destroy the market! also for the FBI coins from silkroad to be sold and destroy the market! now these. it seems that all 12 million coins could be sold and destroy the market! run to the exit!

[indiemax]

I think 400 is more likely, I fear the mtgox coins will be sold.

But as some say, when is hype, sell, and when fear, buy.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”


― Warren Buffett

Stupid old man, know's nothing about Bitcoin,Bitcoin ain't shares

[dreamspark]

Who's to say that the other 650,000 weren't stolen in 2011 and sold then and is one of the reasons for the long bear market that year? If you stole 650,000 coins when they were worth a dollar or two, would you really be able to not hav spent or cashed in on any until now? Just speculation obviously.

How could they be sold on Gox in 2011? Wouldn't the thief(s) be identifiable through blockchain forensics and have their trading accounts closed? It just doesn't make much sense. IMO, the 2011 downtrend looked more like people just being worried that they invested in hot air as bitcoin wasn't useful for much back then.

Didn't need to be sold on Gox or instantly. One theory could be that Mark sold the coins back then for cash knowing that more bit coins were com in in all the time. The cash was maybe to be used legitimately for improving the business or the general Bitcoin eco system but as the price bubbled again he couldn't buy all the coins back.

As beens said we won't know the full story for a while if ever but with the evidence we've been shown nothing should be discounted.