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Author Topic: Do you think there will be a massive dump this weekend ?  (Read 2037 times)
Bitcoin Oz
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August 23, 2012, 10:38:09 PM
 #1

I am thinking pirate@40 will wait for the weekend to start paying back large account holders so if they sell off their coins the price will go down. This is assuming he has massive amounts of USD sitting on exchanges waiting to buy all the cheap coins and other people wont be able to deposit into banks over the weekend.

Unless of course everyone has already moved cash to the exchanges in anticipation of this event  Cheesy


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August 23, 2012, 10:39:58 PM
 #2

You sure pirateat40 knows what he will do this weekend? ..  Cheesy

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August 23, 2012, 10:42:23 PM
 #3

Unless of course everyone has already moved cash to the exchanges in anticipation of this event

I have large barrels of dry powder in place and ready to blow.
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August 23, 2012, 11:12:35 PM
 #4

I have large barrels of dry powder in place and ready to blow.

+1
augustocroppo
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August 24, 2012, 01:01:02 AM
 #5

YEAH!

fcmatt
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August 24, 2012, 01:06:51 AM
 #6

everyone rushed to get usd in this week.
they did not really buy much.

everyone is waiting for a drop in price. i would reckon people are patiently waiting
for the 7 range.

i do not think the price will go that low anymore unless pirate does something.

so if pirate does something that causes 100K of btc to be sold you will get your price
of 7.

but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.

based on what i see of pirate. he does not give a shit and will trickle out the bare minimum
of funds to keep people guessing. expect this weekend to be slightly lower to slightly higher.
basically tough to day trade.

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ArticMine
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August 24, 2012, 01:09:16 AM
 #7

YEAH!



+1

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
RoloTonyBrownTown
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August 24, 2012, 01:12:58 AM
 #8

Yeah.  I'm not really sure why everyone would suddenly dump when they get their coins back.  That doesn't really compute for me.     The people waiting to buy, that I understand.

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August 24, 2012, 01:23:19 AM
 #9

I think we already saw the dump. Now Mr. M is just squeezing the last drops with his thin tiny bids. If/when the sell-drip stops, he'll flip the bids and asks to start pushing it the other way. His intention is to generate trading volume, he doesn't really care what the price is.

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August 24, 2012, 01:36:45 AM
 #10



but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.


+1
Coreadrin_47
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August 24, 2012, 02:10:35 AM
 #11



but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.


+1

Maybe that's what he's waiting to see...
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August 24, 2012, 02:26:28 AM
 #12

I see the chances that pirate dumps his coins over the weekend about at 1% max.

But we certainly need more FUD.  Roll Eyes

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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August 24, 2012, 02:31:54 AM
 #13

I see the chances that pirate dumps his coins over the weekend about at 1% max.

But we certainly need more FUD.  Roll Eyes

i think you meant speculation. not fud.

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ElectricMucus
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August 24, 2012, 02:43:00 AM
 #14

I see the chances that pirate dumps his coins over the weekend about at 1% max.

But we certainly need more FUD.  Roll Eyes

i think you meant speculation. not fud.

Well at this point pirate is the boogie-man, people certainly fear him, they are uncertain about what he is about and they are doubting everybody who keeps a cool head.

Good for me I guess since I might get these really cheap bitcoins after all.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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August 24, 2012, 02:43:09 AM
 #15

I have large barrels of dry powder in place and ready to blow.

Looking at the chart, if it was a normal highly liquid stock, I'd expect a retest of the $8 level or, if things got really dicey, maybe a decline back to test the original breakout (around $6) from the long consolidation.  I have some funds set aside to buy at those levels and am trying to get some more in place by next week; I suspect many others have done the same, which would lend price support.  And supposedly there is good news coming in September from many fronts, plus the London conference, all of which could be catalysts for higher prices.

Unfortunately, Bitcoin is not a normal highly liquid stock, and there is an abnormal black cloud of uncertainty hanging over its head until this Pirate thing gets resolved one way or the other, so any form of technical analysis is dicey.  Plus it's a small enough market to be easily manipulated in the short term.  So in the next 10 days, it could just as well go down to those support levels (I'll happily buy), or continue at $10 (I'll happily hold what I have), or return to $15 (I'll happily tally my gains).

A smart speculator will not try to guess the unknowable, but instead have a plan for each possible outcome.
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August 24, 2012, 06:17:41 AM
 #16



but if the status quo currently keeps up and nothing happens... all the people sitting
with USD will eventually run out of patience and start buying. this will cause price
to creep up shortly.


+1

That said, I'd be quite surprised if it rocketed back up to $15. $15 is clearly resistance now, and I wouldn't be super quick to jump back in head first at $11 or whatever. The 50% retracement was pretty gut-wrenching, and it will probably need time to oscillate/consolidate for a while before it can truly break out.

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August 24, 2012, 07:16:32 AM
 #17

I have large barrels of dry powder in place and ready to blow.

(Snipped the rest but...)
A smart speculator will not try to guess the unknowable, but instead have a plan for each possible outcome.


Agreeing with this.  Great post.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name!  Thy dollars rain, thy will be done, on BTCUSD.  Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins.  And lead us into quadruple digits
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August 24, 2012, 11:40:32 AM
 #18

A massive dump 2 weekends in a row seems a bit far fetched imo. As has been said, people would be ready for it this time. I think we'll see more of the same stagnation at $10
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