knightcoin
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April 20, 2014, 05:59:24 PM |
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TL/DR Please ...
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Jr65 (OP)
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April 20, 2014, 06:06:54 PM |
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Current exchanges will go out of business because they will be underfunded (already are!) and replaced by large well-known, respectable stock exchanges that don't do their banking in Slovenia.
Someone said that the Government/SEC cannot regulate BTC. HA HA HA, think again. They cannot only regulate BTC, they can destroy it. Governments are pretty protective about their currency.
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podyx
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April 20, 2014, 06:14:12 PM |
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Jr65 (OP)
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April 20, 2014, 06:21:10 PM |
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Good! Wouldn't want Spiderman to know that his BTC is going to get "Goxed" and it will take him 10 years to get his money back. LOL!
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podyx
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April 20, 2014, 06:27:16 PM |
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Good! Wouldn't want Spiderman to know that his BTC is going to get "Goxed" and it will take him 10 years to get his money back. LOL!
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Raystonn
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April 20, 2014, 06:27:45 PM |
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Someone said that the Government/SEC cannot regulate BTC. HA HA HA, think again. They cannot only regulate BTC, they can destroy it. Ok, now I can see the troll coming out. I'd ask how large your short position is, but you'd just continue your charade as an attorney family-man. Bitcoin can be destroyed about as easily as torrent. We can see how well that has gone for the entertainment industry.
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dropt
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April 20, 2014, 06:35:27 PM |
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Current exchanges will go out of business because they will be underfunded (already are!) and replaced by large well-known, respectable stock exchanges that don't do their banking in Slovenia.
Someone said that the Government/SEC cannot regulate BTC. HA HA HA, think again. They cannot only regulate BTC, they can destroy it. Governments are pretty protective about their currency.
Are you just making this shit up as you go along?
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MatTheCat
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April 20, 2014, 06:47:20 PM Last edit: April 20, 2014, 07:02:01 PM by MatTheCat |
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Inexperienced OP doesn't fully understand Bitcoin and places too much emphasis on Gox.
Ach sling yer fucking hook ya Kool Aid guzzling retard. And now on to other matters. Good OP, but I do concur with the complaints about non-use of paragraphs. I got rather dizzy reading that although I must admit that the message does make sense. That is a whole pile of BTC out there that is fated for being cashed out and cashed out fast when the time comes.
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piramida
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Borsche
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April 20, 2014, 07:03:53 PM |
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Good! Wouldn't want Spiderman to know that his BTC is going to get "Goxed" and it will take him 10 years to get his money back. LOL!
What if the spiderman's average buy in price is in negative numbers long ago. is he still in danger because to sell your bitcoin you will have to pay? spiderman afraid.
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i am satoshi
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kooke
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Bitcoin super-duper-mega-ultra-hyper-node
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April 20, 2014, 07:49:15 PM |
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Price goes up a little and suddenly it's 'to da moon!' It goes down a little and suddenly 'OMG btc crashing to double-digits!'
You do realize that there's a middle ground and as long as it holds this value over time that's good.
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MatTheCat
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April 20, 2014, 08:00:07 PM |
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Price goes up a little and suddenly it's 'to da moon!' It goes down a little and suddenly 'OMG btc crashing to double-digits!'
You do realize that there's a middle ground and as long as it holds this value over time that's good.
tbh....that is what Bitcoin needs to do. Find a price range and hold it for a very long time. That means no '2 Da moon' and also no 'Bitcoin to double digits' That is what it needs to do. What it actually does do however.......
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c0ldfusi0nz
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April 20, 2014, 08:01:39 PM |
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Two days ago, OP wrote: I am far too new to Bitcoin to have a fully formed opinion on this matter. However, it seems like Mt. Gox's bankruptcy liquidator, and the way he decides to liquidate to creditors, could materially impact Bitcoin's price in the short term. I'd love to get some feedback from you guys/gals.
And today you're an expert who can predict the future? Impressive!
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Fippy
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UNCLOAK™ - Cyber Threat Detection Powered by EOS™
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April 20, 2014, 08:27:51 PM |
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Your logic is something akin to saying "If Exxon goes bankrupt, the price of oil will crash completely and it will be pennies per barrel".
Call me crazy, but I think your theory might be slightly flawed.
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Jr65 (OP)
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April 20, 2014, 09:13:11 PM |
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How many times did I say that I was just guessing based on law and economics and not predicting the future? I even jokingly called my prediction, "worthless."
Being new to BTC doesn't mean that I can't break down a corporate Bankruptcy case (as a lawyer) or apply simple economics. I am not trolling for cheap coins or shorting BTC. Believe it or not...I could care less. I own coins in "BIT," Barry Silbert's fund. Liquidity comes around once per month in that investment vehicle. That hardly makes me a nimble trader.
I know Bankruptcy law, simple economics and that the BTC infrastructure cannot easily handle the liquidation of 200,000 coins, much less the additional missing coins if they are found. I don't even know how to short BTC. Tell me and I will because, it may spike, but afterwards, it's going down down down and I'd love to take your money. Talk is cheap and I have already talked way too much. I'm done trying to help educate others because no one wants to hear it. I didn't write that long post to hurt anyone! I wrote it to give a friendly slant on how I see the future for BTC. I regret the hell out of posting it because it has done nothing but heap insults upon me.
Let's just wait and see. Time will prove who is right or wrong. To all of you doubters, you will be shitting your pants when you start getting blindsided by coin liquidation discount numbers out of Tokyo and Texas. I am not proud of my opinion and I would love to be wrong!! Go have a happy Easter and leave this matter for what it is worth...an educated opinion, that may be dead wrong, rooted in law and economics.
Oh and, by the way, if I'm so off-base about the danger of Bitcoin's price, why do you think that the few big money players in this industry are investing their money in BTC-related companies and NOT in the coins. Andreeseen Horowitz, (A 2.5 Billion dollar Mega Famous Venture Capital Firm) has invested 50 million in BTC-related start-up companies and is actively looking for more, and only owns what is called a "DE MINIMUS" amount of actual BTC coins. This Firm has won HUGE with SKYPE, FACEBOOK, GROUPON, TWITTER, ZYNGA, AIRBNB, LYTRO, JAWBONE AND FOURSQUARE AND yet they own a "DE MINIMUS" (also none as next to none!) amount of BTC coins!! Yeah, you guys really have the jump on these billion dollar idiots. Scoreboard!
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solex
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April 20, 2014, 09:37:40 PM |
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My prediction: MK hangs onto the 200k coins using the fig leaf that they are (and always has been) his own property, not part of the MtGox/Tibanne company. He has upset too many people to give them up and lose his method of escape into a quiet and comfortable life. In this scenario the 200k is dripped into the market over years.
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dropt
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April 20, 2014, 09:43:26 PM |
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How many times did I say that I was just guessing based on law and economics and not predicting the future? I even jokingly called my prediction, "worthless."
Being new to BTC doesn't mean that I can't break down a corporate Bankruptcy case (as a lawyer) or apply simple economics. I am not trolling for cheap coins or shorting BTC. Believe it or not...I could care less. I own coins in "BIT," Barry Silbert's fund. Liquidity comes around once per month in that investment vehicle. That hardly makes me a nimble trader.
Interesting. I know Bankruptcy law, simple economics and that the BTC infrastructure cannot easily handle the liquidation of 200,000 coins, much less the additional missing coins if they are found. I don't even know how to short BTC. Tell me and I will because, it may spike, but afterwards, it's going down down down and I'd love to take your money. Talk is cheap and I have already talked way too much. I'm done trying to help educate others because no one wants to hear it. I didn't write that long post to hurt anyone! I wrote it to give a friendly slant on how I see the future for BTC. I regret the hell out of posting it because it has done nothing but heap insults upon me.
Let's just wait and see. Time will prove who is right or wrong. To all of you doubters, you will be shitting your pants when you start getting blindsided by coin liquidation discount numbers out of Tokyo and Texas. I am not proud of my opinion and I would love to be wrong!! Go have a happy Easter and leave this matter for what it is worth...an educated opinion, that may be dead wrong, rooted in law and economics.
I don't know much of anything when it comes to Bankruptcy proceedings in my own country let alone a completely foreign (to me) one. But, my understanding is that the coins would likely be broken down into lots and auctioned off. I find it highly unlikely that a liquidator would send the whole lot to Bitstamp, type "1" into the price field, 200,000 in the BTC field and hit sell, just like I find it highly unlikely that they would sit there and sell little chunks in efforts to not tank the market. Oh and, by the way, if I'm so off-base about the danger of Bitcoin's price, why do you think that the few big money players in this industry are investing their money in BTC-related companies and NOT in the coins. Andreeseen Horowitz, (A 2.5 Billion dollar Mega Famous Venture Capital Firm) has invested 50 million in BTC-related start-up companies and is actively looking for more, and only owns what is called a "DE MINIMUS" amount of actual BTC coins. This Firm has won HUGE with SKYPE, FACEBOOK, GROUPON, TWITTER, ZYNGA, AIRBNB, LYTRO, JAWBONE AND FOURSQUARE AND yet they own a "DE MINIMUS" (also none as next to none!) amount of BTC coins!! Yeah, you guys really have the jump on these billion dollar idiots. Scoreboard!
Because that's what they do. To my understanding they invest in tech companies, not the FOREX market. Same reason it's absurd that anyone would think that Warren Buffet would be interested in investing in BTC holdings/tech companies when that's not what he does and never has. However, I do appreciate your views when it comes to the Mt. Gox liquidation even if I and other don't agree with them, and likely, never will.
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Jr65 (OP)
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April 20, 2014, 10:09:58 PM |
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The big Firm, A.H., sees value in BTC start-up companies, not BTC. If they saw value in the coins, they would buy more than a nominal amount. There is nothing stopping them. They would buy the 200,000 Mt. Gox coins with their spare change but they won't. These Firms go where the money is and the money is not in the coins because they are so easy to manipulate. Horowitz, and his wealthy colleagues, want to drain the current coin value, revolutionize it with their "secret sauce" infrastructure and ride the price up once it is reset and we have all been pushed out. Sadly, they don't want the little guys to profit and they will ostensibly take the coin value from us, kill the price and and then revalue it on their own terms. The rich will win this game just like all the others. Very unfair but we're already being set up for the fall. This is a simple crash and burn, then rehabilitate (by the wealthy) play. Our current wealth will be in the pocket of guys like Horowitz within 3-5 years. Again; just another very educated opinion from an Investment Banker.
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dropt
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April 20, 2014, 10:24:21 PM |
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The big Firm, A.H., sees value in BTC start-up companies, not BTC. If they saw value in the coins, they would buy more than a nominal amount. There is nothing stopping them. They would buy the 200,000 Mt. Gox coins with their spare change but they won't. These Firms go where the money is and the money is not in the coins because they are so easy to manipulate. Horowitz, and his wealthy colleagues, want to drain the current coin value, revolutionize it with their "secret sauce" infrastructure and ride the price up once it is reset and we have all been pushed out. Sadly, they don't want the little guys to profit and they will ostensibly take the coin value from us, kill the price and and then revalue it on their own terms. The rich will win this game just like all the others. Very unfair but we're already being set up for the fall. This is a simple crash and burn, then rehabilitate (by the wealthy) play. Our current wealth will be in the pocket of guys like Horowitz within 3-5 years. Again; just another very educated opinion from an Investment Banker.
This is treading heavily into conspiracy theory territory, and while I'm a big fan of conspiracy theories, I don't agree with your out take here. Owning the infrastructure guarantees them profit without relying on the exchange rate of a coin. If the dollar value of the coin drops, the magnitude of the coins sent for the same (USD valued) transaction increases, and as consequence, so does the magnitude of the coins charged by the processing institution. Read: they make their percentage either way, and the profits levels valued in USD are detached from the exchange rate. This concept of destroying the price in order to "rehabilitate" is nonsense. They're investing Millions into BTC businesses why, so they can risk killing the golden goose? These people are simply playing the same model that todays FIAT rich have played. Acquire and dominate. If guys like this end up owning controlling interests in Bitpay, and Bitpay becomes the next Visa, then they're the equivalent of today's Visa Masters. All they have to do is wait. None-the-less, none of this has anything to do with your original topic, and unless I misunderstood earlier, you said you were a lawyer, and now you're claiming to be an "Investment Banker". Something doesn't smell right when it comes to you. Not only that, but your message is inconsistent. First you warn us to sell off because the looming Mt. Gox liquidation is going to destroy the $/BTC rate, and now you're telling us that it's all a big conspiracy by todays masters to get our coins cheap. I'll tell you one thing, I've been involved in Bitcoin since 2011, I have a near negative entrance point. I have ridden out multiple booms and busts, bitcoin scams, and countless noobs with all sorts of "very educated" theories. I think I'll just do what I do and ride this one out too.
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TERA
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April 20, 2014, 10:33:59 PM |
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It would be pretty bullish if the price were to return to a point where it was supported by buying rather than by hoarding.
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solex
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April 20, 2014, 11:06:46 PM |
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This thread is yet another rationalization of a projected ultra-low price so that all the people who missed the train can jump aboard. I find it highly unlikely that a liquidator would send the whole lot to Bitstamp, type "1" into the price field, 200,000 in the BTC field and hit sell, just like I find it highly unlikely that they would sit there and sell little chunks in efforts to not tank the market.
Yep. The ultimate wet dream for clock-rewinders who want to return to 2011 so they can load up cheaply and see 5000% future gains. It would be pretty bullish if the price were to return to a point where it was supported by buying rather than by hoarding.
Honestly, "hoarding" is just a derogatory term for "saving" and "investing". Savings give bitcoins persistent value such that an ecosystem can grow, technologists develop hardware and software, merchants accept bitcoins as currency. http://themisescircle.org/blog/2014/02/12/im-hoarding-bitcoins-and-no-you-cant-have-any/
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