Gold collapsing. Bitcoin UP.

[blaaaaacksuit]

Common sense

Thank you for posting this.  The dumping, although terrifying, makes absolutely no sense with all the infrastructure being built around btc.  The market behavior was highly suspect the whole time starting with the initial dump from around 590  and now we're seeing people flashing 30,000 BTC asks on bitstamp.  I've been very tempted to get out but every time I've come close I remind myself that none of this makes any fucking sense.

Edit:  sometimes I wonder if there will be a time when hired manipulators disrupt the markets in a transparent and obvious way so violently and for so long that the majority of the BTC community begins screaming for regulation.

[Coinshot]

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

given that's the biggest source, it would make sense.  altho i'm not sure he holds them.

He holds them alright. He stole them and pretended he was hacked. Tried and tested method of ripping off.

[smoothie]

Getting some cheap and instant BTC while they are low in price via circle....nom nom nom

Get it while it is cheap!!! 

[BlindMayorBitcorn]

Getting some cheap and instant BTC while they are low in price via circle....nom nom nom

Get it while it is cheap!!! 

Dude you bought in at 9$ probably. Where is your wall?

[explorer]

Getting some cheap and instant BTC while they are low in price via circle....nom nom nom

Get it while it is cheap!!! 

Dude you bought in at 9$ probably. Where is your wall?

When did past profit make future profit undesirable?  Buy the dips, man!

[Kupsi]

Gold at 4 year low.

[smoothie]

Getting some cheap and instant BTC while they are low in price via circle....nom nom nom

Get it while it is cheap!!! 

Dude you bought in at 9$ probably. Where is your wall?

Actually it was at $4.

My wall is in my wallet.

[zeetubes]

Shorting any financial asset is a valid and usually very risky speculative strategy. In the case of gold, it needs a massive amount of money and, in order to negate the risk, zero fear of losing that money. The only entities that are in that position are central banks. But aside from governments and banks, who else would be interested in driving down the price of bitcoin to the extent that it might ultimately kill off the golden goose? And more importantly, who else would have both the money/means and motive to do so? This feels more like a slow and steady attack on bitcoin's core rather than shorting for long term profit. Perhaps I'm being paranoid.

[smooth]

Common sense

Thank you for posting this.  The dumping, although terrifying, makes absolutely no sense with all the infrastructure being built around btc.  The market behavior was highly suspect the whole time starting with the initial dump from around 590  and now we're seeing people flashing 30,000 BTC asks on bitstamp.  I've been very tempted to get out but every time I've come close I remind myself that none of this makes any fucking sense.

Edit:  sometimes I wonder if there will be a time when hired manipulators disrupt the markets in a transparent and obvious way so violently and for so long that the majority of the BTC community begins screaming for regulation.

What was suspect was the extremely rapid (almost vertical) run up to 1200. Going from say 100 to 200 would be entirely consistent with the infrastructure build out.

[BlindMayorBitcorn]

Shorting any financial asset is a valid and usually very risky speculative strategy. In the case of gold, it needs a massive amount of money and, in order to negate the risk, zero fear of losing that money. The only entities that are in that position are central banks. But aside from governments and banks, who else would be interested in driving down the price of bitcoin to the extent that it might ultimately kill off the golden goose? And more importantly, who else would have both the money/means and motive to do so? This feels more like a slow and steady attack on bitcoin's core rather than shorting for long term profit. Perhaps I'm being paranoid.

Another one of the new wealthy elite is cashing out. It isn't complicated

[blaaaaacksuit]

Common sense

Thank you for posting this.  The dumping, although terrifying, makes absolutely no sense with all the infrastructure being built around btc.  The market behavior was highly suspect the whole time starting with the initial dump from around 590  and now we're seeing people flashing 30,000 BTC asks on bitstamp.  I've been very tempted to get out but every time I've come close I remind myself that none of this makes any fucking sense.

Edit:  sometimes I wonder if there will be a time when hired manipulators disrupt the markets in a transparent and obvious way so violently and for so long that the majority of the BTC community begins screaming for regulation.

What was suspect was the extremely rapid (almost vertical) run up to 1200. Going from say 100 to 200 would be entirely consistent with the infrastructure build out.

Yes, that was ALSO suspect.

[cypherdoc]

Another one of the new wealthy elite is cashing out. It isn't complicated

no.

none of us early adopters are going anywhere!:

[smooth]

none of us early adopters are going anywhere!

How do you know that sums of biggest wallets represent early adopters? It could just as easily be increased concentration of holdings at Circle, Coinbase, etc. or even coins being moved to Bitstamp to dump. At the very least you would need to include coin age or possibly wallet age for this to be valid.

[blaaaaacksuit]

none of us early adopters are going anywhere!

How do you know that sums of biggest wallets represent early adopters? It could just as easily be increased concentration of holdings at Circle, Coinbase, etc. or even coins being moved to Bitstamp to dump. At the very least you would need to include coin age or possibly wallet age for this to be valid.

Yea, that just looks like one big chart representing people ready to dump all over us noobs.

[cypherdoc]

none of us early adopters are going anywhere!

How do you know that sums of biggest wallets represent early adopters? It could just as easily be increased concentration of holdings at Circle, Coinbase, etc. or even coins being moved to Bitstamp to dump. At the very least you would need to include coin age or possibly wallet age for this to be valid.

look here and tell me what you think:

http://bitcoinrichlist.com/top100

[marcus_of_augustus]

Shorting any financial asset is a valid and usually very risky speculative strategy. In the case of gold, it needs a massive amount of money and, in order to negate the risk, zero fear of losing that money. The only entities that are in that position are central banks. But aside from governments and banks, who else would be interested in driving down the price of bitcoin to the extent that it might ultimately kill off the golden goose? And more importantly, who else would have both the money/means and motive to do so? This feels more like a slow and steady attack on bitcoin's core rather than shorting for long term profit. Perhaps I'm being paranoid.

Nope, I agree. Could classify it as a "social attack", via price manipulation algos on centralised exchanges.

Pretty sure there is good evidence for it beginning around 600 level in late June early July time frame when the momentum for the next natural wave up was building substantially.

Most likely some of the big banks got together (or would only take one like e.g. Morgan Stanley size) and got sick of waiting for governments to do something about bitcoin and decided to take matters into their own hands, so to speak.

[NotLambchop]

...aside from governments and banks, who else would be interested in driving down the price of bitcoin ... Perhaps I'm being paranoid.

Curses, you've seen right through my sinister ploy!
Who would have thought a good little girl like you could destroy my beautiful wickedness?

[BlindMayorBitcorn]

none of us early adopters are going anywhere!

How do you know that sums of biggest wallets represent early adopters? It could just as easily be increased concentration of holdings at Circle, Coinbase, etc. or even coins being moved to Bitstamp to dump. At the very least you would need to include coin age or possibly wallet age for this to be valid.

Look at the dates. Purchased in 2012

https://blockchain.info/address/19Gt9VKmmyMpMHEv6dkf8ddwmwddoSoJ8w

[STT]

Thats a nice graph but think I have to agree.   It could mean we have greater business involvement now and so chart shows here the concentration or by proxy usage of the masses in fewer distinct wallets.
Isnt it always best for a distributed network to be showing greater active addresses as a sign of prosperity

Of course the ownership or control of the wallet itself could change without us knowing

[cypherdoc]

...aside from governments and banks, who else would be interested in driving down the price of bitcoin ... Perhaps I'm being paranoid.

Curses, you've seen right through my sinister ploy!
Who would have thought a good little girl like you could destroy my beautiful wickedness?

yeah, lucky the big wall ran with its tail btwn its legs.  would've gotten taken out.