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seriouscoin (OP)
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September 05, 2014, 05:26:52 PM |
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If you've been watching Bitstamp, you will notice the sale very periodic. Since its quite consistent, i suspect one of the farms.
Whats your opinion?
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Fearless
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Activity: 89
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September 05, 2014, 05:35:59 PM |
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It seems that someone is trying to disturb the BTC economy. I have seen such transactions on blockchain too.
Sounds weird indeed.
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bbit
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Bitcoin
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September 05, 2014, 05:41:09 PM |
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U.S Gumberment ? From the seized SR coins?
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jcoin200
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September 05, 2014, 07:22:14 PM |
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U.S Gumberment ? From the seized SR coins?
I thought those 30k coins were already auctioned off to Tim Draper? |
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haploid23
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September 05, 2014, 07:25:07 PM |
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U.S Gumberment ? From the seized SR coins?
The 30k has already been sold, and it definitely wouldn't be dumped on an exchange. The other wallet is one of the largest, everyone will notice if those coins moved. |
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tilray
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September 05, 2014, 08:07:08 PM |
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probably gawminers and their hashlets preparing payouts  |
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iluvpie60
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September 05, 2014, 08:45:54 PM |
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does it matter? if you could look at other peoples bank ledgers would you? is there really any reason to be looking at these things and trying to glean value from them?
it might be fun to look at it but there shouldn't be any serious discussion about someone selling 500 bitcoins everyday. so what, thats low amounts of btc compared to daily trades.
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BitCoinDream
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The revolution will be digital
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September 05, 2014, 09:58:29 PM |
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If you've been watching Bitstamp, you will notice the sale very periodic. Since its quite consistent, i suspect one of the farms.
Whats your opinion?
It may be from one of those big guys like DELL or Expedia. As these guys need to pay their vendors in USD, they'll dump regularly in bulk and this trend is gonna increase with more mainstream acceptance. |
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minerpumpkin
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September 05, 2014, 09:59:47 PM |
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Wasn't me  But seriously, I guess it's some miners that need to cover the costs of their mining operation. They can't wait for the price to go up again and risk not being able to pay their running expenses. So they dump at least as much coins as they need to pay for the mining operation! |
I should have gotten into Bitcoin back in 1992...
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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September 05, 2014, 10:36:20 PM |
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probably Mark Karpeles.
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Brewins
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September 05, 2014, 10:50:55 PM |
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If you've been watching Bitstamp, you will notice the sale very periodic. Since its quite consistent, i suspect one of the farms.
Whats your opinion?
It may be from one of those big guys like DELL or Expedia. As these guys need to pay their vendors in USD, they'll dump regularly in bulk and this trend is gonna increase with more mainstream acceptance. They use a 3th part processor for the Bitcoin payments. They don't keep or directly deal with Bitcoins. But the dumps might very well come due to Dell's or Expedia's salles. But we will never know for sure. |
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jcoin200
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September 06, 2014, 12:36:17 AM |
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probably Mark Karpeles.
hahahahahahah but really sorry to anyone who lost coins to his incompetence |
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SlipperySlope
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September 06, 2014, 02:39:14 AM |
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Very likely it is industrial mining. There about 3600 new bitcoins created daily by miners. Industrial miners must pay for electricity and constant upgrades. The electric utilities do not accept bitcoin yet, and I would guess same applies for parts required by mining equipment manufacturers who are often industrial miners too. Chinese miners most likely dump bitcoins on a domestic exchange for Yuan. That narrows the field to a European or USA based industrial mine. I will be briefly speaking on a panel discussion about mining algorithms at the Hashers United Conference in Las Vegas this October. The audience will be miners and those wanting to learn more about cryptocurrency mining. A good question for the folks I meet there is "What percent of your mined coins are sold to pay expenses?".
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LiberyOrDeath
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September 06, 2014, 03:07:48 AM |
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If you've been watching Bitstamp, you will notice the sale very periodic. Since its quite consistent, i suspect one of the farms.
Whats your opinion?
The best guestimate would be big mining farms. They have to convert BTC to fiat in order to pay for the bills such as electricity, rent, employees etc. And the low price is not working in their favour, that is why they are forced to sell immediately. |
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Raize
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September 06, 2014, 03:33:32 AM |
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The best guestimate would be big mining farms. They have to convert BTC to fiat in order to pay for the bills such as electricity, rent, employees etc. And the low price is not working in their favour, that is why they are forced to sell immediately.
This is correct. There are farms that have to hit their bottom line and may have hoarded in the beginning thinking there was going to be a rally. It never came so they are covering their behinds. I know of at least one mining operation that was forced to sell ~8.5k coin around the April 15th date to cover unexpected taxes after the IRS tax clarification came out. Suffice to say, they don't operate in the US anymore. There are probably many mining companies now that are more worried the price could fall lower and that the market can remain irrational longer than they can remain solvent fiat-wise. It's in these companies best interest to sell now. That said, there may eventually come a time within the next year when enthusiasts will be the primary miners, and when that happens, we may start to see the rally that some of these later adopters keep hoping is coming. My guess is it'll happen very slowly at first. I've yet to call the bottom, but I'm relatively certain it'll be soon if it wasn't this last dip. |
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QuestionAuthority
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You lead and I'll watch you walk away.
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September 06, 2014, 03:36:17 AM |
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Coinbase or BitPay?
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keithers
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This is the land of wolves now & you're not a wolf
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September 06, 2014, 03:37:57 AM |
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It could be btc gaming websites taking some profits off the table
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TrailingComet
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September 06, 2014, 04:03:54 AM |
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Combination of bleeding miners and Chinese punters
Guessing wildly here but who knows I might not be too far off
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tinof
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September 06, 2014, 04:04:08 AM |
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Coinbase or BitPay?
Both. And all corporate mega mining farms, coin IPO (Ethereum and etc etc), bitcoin business IPO. The selling pressure will continue to build up when more merchants decided to accept bitcoin for payment. |
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master-P
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September 06, 2014, 04:09:53 AM |
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If you've been watching Bitstamp, you will notice the sale very periodic. Since its quite consistent, i suspect one of the farms.
Whats your opinion?
It may be from one of those big guys like DELL or Expedia. As these guys need to pay their vendors in USD, they'll dump regularly in bulk and this trend is gonna increase with more mainstream acceptance. They use a 3th part processor for the Bitcoin payments. They don't keep or directly deal with Bitcoins. But the dumps might very well come due to Dell's or Expedia's salles. But we will never know for sure. They still are essentially selling the bitcoin they receive as payment. Technically coinbase is selling the bitcoin on their behalf when they receive a payment, but the effect is still the same. I believe that the coinbase price is linked to bitstamp so it could well be a lot of coinbase customers receiving payments from bitcoin paying customers, although this would be speculation. |
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