Stop talking about the damn SR coins - it is the LEAST significant price mover

[hyphymikey]

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

This is correct. TERA is just bear trolling like usual.

I think the auction is by far the most significant price mover at the moment. It's not because 30k coins is going to increase the supply of coins or the fear that they will be dumped afterwards, but it's more the fact that the interested parties want to lower the price on the exchanges to get a better price on the auction. And because people expect these parties to do this it will almost create a self-fulfilling prophecy already.

Also correct. TERA is just bear trolling like usual.

[TERA]

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

This is correct. TERA is just bear trolling like usual.

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

[Rampion]

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

The coins seized from SR wallet are 30k, the ones belonging to Ross are 140,000ish.

There is absolutely no evidence about law enforcement controlling more than that.

[hyphymikey]

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

You are right, I should have used the words false information with a pinch of FUD, instead of bear.

I see you way too much on this forum for you to not know how many coins there are, and in whose possession. Perhaps you overlooking this will cause you to "get caught" in this bear trap?

EDIT: Also, don't confuse lack of buying pressure with waiting for the right time to buy. If I were the one who pushed the price from 420 to 680 earlier, why not fill in 420 to 680 with more bids and wait for people like you to sell into it, everyone screaming "There is no buy support sell sell sell". Then when I have the coins I need, I stop manipulating. Manipulation is so easy with a market this small, but yet people still use T/A, which only one trend line has yet to break.  The only reason a few people here can profit on trading is because there are so many traders thinking the same thing. Physiological analysis might be the best way to trade this market.

You are technically right there is no buy support. But all the whales are waiting for this auction, and putting the buying on hold. Weak hands get scared and sell, so thats why we are slowly going down.

/rant.

[brg444]

I don't usually post here but there is so much FUD spread in this post I couldn't abstain myself from commenting

The suggestion that the governement is selling coins because somehow they found an exploit in the bitcoin protocol or any of the elements mentionned after is some of the most ridiculous stuff I've had the misfortune to read on this board. Anyone even entertaining these thoughts need to get checked cause something ain't right with their heads

[TERA]

I don't usually post here but there is so much FUD spread in this post I couldn't abstain myself from commenting

The suggestion that the governement is selling coins because somehow they found an exploit in the bitcoin protocol or any of the elements mentionned after is some of the most ridiculous stuff I've had the misfortune to read on this board. Anyone even entertaining these thoughts need to get checked cause something ain't right with their heads

I'm not suggesting that any of those things are true;  I'm suggesting that those types of thoughts have affected the sentiment of buyers. The average investor is very irrational and emotional, and would think that type of thing. See my use of quotation marks in the post.

[HeliKopterBen]

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

The coins seized from SR wallet are 30k, the ones belonging to Ross are 140,000ish.

There is absolutely no evidence about law enforcement controlling more than that.

Yes government does NOT control 970,000 bitcoins.   

[TERA]

There is another dealer they seized a load of coins from. It happened much later than the incident with Ross.

[HeliKopterBen]

There is another dealer they seized a load of coins from. It happened much later than the incident with Ross.

Link?  I can't find it anywhere.

[Yololintian]

For the past 2 weeks and for probably another week, the news surrounding the auction has had/will have the most impact on the price imo. The 51% attack FUD was just used to amplify the uncertainty and bearishness in general but it is not the main story or a big problem - the same FUD has occured in the past and not had much impact on its own. Also for the moment Stamp is leading the other exchanges and China is following, which suggests that China isn't fearing more government regulations, but this could change at any moment and have a much larger impact on the market depending on what happens.

[ALToids]

Who is this other dealer that is being talked about.  Can't find it anywhere on google or coindesk.

[TERA]

Who is this other dealer that is being talked about.  Can't find it anywhere on google or coindesk.

Crap. I can't find it either. Sorry. I could have sworn about 2 months ago I read something about how one of the kingpin dealers was busted and about 400,000 coins were seized. Maybe it was fake, or I was dreaming. My apologies if this is the case.

[jl2012]

"Why is the government selling? Has the government become bearish on Bitcoin?"

http://www.usmarshals.gov/assets/sales.htm

I can't agree with you more. It seems the US government is also consistently bearish on vehicle market, real estate market, and jewelry market

Please try harder.

[TERA]

"Why is the government selling? Has the government become bearish on Bitcoin?"

http://www.usmarshals.gov/assets/sales.htm

I can't agree with you more. It seems the US government is also consistently bearish on vehicle market, real estate market, and jewelry market

Please try harder.

Can nobody read the quotation marks and comprehend that these ideas are an analysis of market sentiment and are not my own beliefs?

[Asrael999]

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

This is correct. TERA is just bear trolling like usual.

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

Maybe if you had mentioned some of the positive news stories from recent weeks then you would not be being accused of bear trolling, I can think of a few - and am sure there are more
Expedia accepting bitcoin for hotel bookings - which means I can go the Commonwealth Games in Glasgow in August purely using BTC.
Dish accepting Bitcoin (a while ago I admit)
Apple allowing wallets back in the App store
Ebay CEO comments on Bitcoin integration possibility with Paypal.
California Bill that moves to make BTC a legal currency
Coinbase move to allow merchants to offer discounts to those paying with BTC - as well as the top up functionality that allows users to automatically buy back the BTC they spend.

[TERA]

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

This is correct. TERA is just bear trolling like usual.

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

Maybe if you had mentioned some of the positive news stories from recent weeks then you would not be being accused of bear trolling, I can think of a few - and am sure there are more
Expedia accepting bitcoin for hotel bookings - which means I can go the Commonwealth Games in Glasgow in August purely using BTC.
Dish accepting Bitcoin (a while ago I admit)
Apple allowing wallets back in the App store
Ebay CEO comments on Bitcoin integration possibility with Paypal.
California Bill that moves to make BTC a legal currency
Coinbase move to allow merchants to offer discounts to those paying with BTC - as well as the top up functionality that allows users to automatically buy back the BTC they spend.

The thread is not about summarizing all recent news events - it is specifically about the significance of the auction and the auction's overestimated relationship to the recent decline.

[jl2012]

"Why is the government selling? Has the government become bearish on Bitcoin?"

http://www.usmarshals.gov/assets/sales.htm

I can't agree with you more. It seems the US government is also consistently bearish on vehicle market, real estate market, and jewelry market

Please try harder.

Can nobody read the quotation marks and comprehend that these ideas are an analysis of market sentiment and are not my own beliefs?

Who care the sentiment of morons, do you?

[segeln]

Tera`s considerations are good.
the auction is insignificant.
>50% attack is dangereous
and China is not off of bitcoin

[Miz4r]

So TERA, after watching the price action of the past week, are you still convinced the auction was the least significant price mover?

[Jean Bax]

SR Auction = 30000 coins
Existing coins = 13M

Peoples are nuubcakes.