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moriartybitcoin (OP)
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September 18, 2014, 08:11:39 PM |
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Hi folks,
Two simple pertinent facts:
A. Bitcoin is gaining much wider acceptance at a rapid rate, and new Bitcoin companies overflowing with venture capital money are sprouting up daily
B. The price of Bitcoin is going down, not up
This can ONLY be explained by PRICE MANIPULATION on the part of one or more big exchanges like CoinBase, Bitstamp or BTC-E (the main culprits). Remember how Mark Karpeles' trading bots at Mt Gox spiked the price to $1200+ in November of 2013? Now the big exchanges are intentionally CRASHING the price so they can buy up CHEAPLY at rock bottom because they KNOW that the price is set for a massive boom due to increasing adoption worldwide.
How low will it go? Only the price manipulators know that, but my guess is well below $400.
Invest at $350 would be my recommendation.
And, of course, enjoy the ride.
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mbaeichapareiko
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Activity: 101
Merit: 10
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September 18, 2014, 08:26:26 PM |
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+5
Kudos,
Another theory is that many may be selling bitcoin short following the trend, and we all know what happens when a price bounces and short sellers have to cover their position.
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Beliathon
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September 18, 2014, 08:27:09 PM |
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And, of course, enjoy the ride. Indeed. Back to the good old days!  |
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cbeast
Donator
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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September 18, 2014, 08:32:10 PM |
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Hi folks,
Two simple pertinent facts:
A. Bitcoin is gaining much wider acceptance at a rapid rate, and new Bitcoin companies overflowing with venture capital money are sprouting up daily
B. The price of Bitcoin is going down, not up
This can ONLY be explained by PRICE MANIPULATION on the part of one or more big exchanges like CoinBase, Bitstamp or BTC-E (the main culprits). Remember how Mark Karpeles' trading bots at Mt Gox spiked the price to $1200+ in November of 2013? Now the big exchanges are intentionally CRASHING the price so they can buy up CHEAPLY at rock bottom because they KNOW that the price is set for a massive boom due to increasing adoption worldwide.
How low will it go? Only the price manipulators know that, but my guess is well below $400.
Invest at $350 would be my recommendation.
And, of course, enjoy the ride.
Which exchange do you think is insolvent? |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Verse
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September 18, 2014, 08:43:59 PM |
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I'd buy at $300, but I'm very conservative in terms of risk so prices will likely rally long before my mark is hit. I suspect you're correct in that BTC will fall below $400 USD because the daily exchange rate has a lot of momentum that isn't visible within hourly trades due to arbitrage or the lack thereof.
I don't think there's a single entity manipulating the price, i.e. a large oldcoin dump. More or less the market = lemmings off a cliff. If an exchange were insolvent (and this were public knowledge) then we'd see a massive price drop in that exchange, and lesser drops in solvent exchanges, as happened with Mt. Gox.
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TheWallStreetCrew
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Activity: 111
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September 18, 2014, 08:53:08 PM |
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miners dumping. will continue until next block halving in 2017.
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TheButterZone
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RIP Mommy
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September 18, 2014, 09:00:47 PM |
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Miners dumping and/or retailers dumping (by proxy). Don't buy shit with BTC until retailers stop dealing with payment processors that dump on the market. And never sell at a loss.
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Saying that you don't trust someone because of their behavior is completely valid.
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Sevvero
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September 18, 2014, 09:01:05 PM |
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Don't be stupid. Merchants accepting BTC and converting it automatically to fiat. Ex BTC users not buying back in again, because they don't trust scam money anymore. Everyone just wants to get rid of it, miners, too. It's a long way down. SELL NOW OR LOSE EVERYTHING And never sell at a loss. Worst advice ever. It's sometimes wiser to sell at a loss than to lose it all like many will now. |
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zby
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September 18, 2014, 09:03:42 PM |
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cbeast
Donator
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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September 18, 2014, 09:29:17 PM |
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Duh Duh Duuuh! Nah. There are a lot of reasons folks are skittish right now. 99% of those reasons are FUD. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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seriouscoin
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September 18, 2014, 09:31:11 PM |
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Hi folks,
Two simple pertinent facts:
A. Bitcoin is gaining much wider acceptance at a rapid rate, and new Bitcoin companies overflowing with venture capital money are sprouting up daily
B. The price of Bitcoin is going down, not up
This can ONLY be explained by PRICE MANIPULATION on the part of one or more big exchanges like CoinBase, Bitstamp or BTC-E (the main culprits). Remember how Mark Karpeles' trading bots at Mt Gox spiked the price to $1200+ in November of 2013? Now the big exchanges are intentionally CRASHING the price so they can buy up CHEAPLY at rock bottom because they KNOW that the price is set for a massive boom due to increasing adoption worldwide.
How low will it go? Only the price manipulators know that, but my guess is well below $400.
Invest at $350 would be my recommendation.
And, of course, enjoy the ride.
Which exchange do you think is insolvent? OkCoin and Houbi. Who else? Harder question next... |
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seriouscoin
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September 18, 2014, 09:33:53 PM |
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Don't be stupid. Merchants accepting BTC and converting it automatically to fiat. Ex BTC users not buying back in again, because they don't trust scam money anymore. Everyone just wants to get rid of it, miners, too. It's a long way down. SELL NOW OR LOSE EVERYTHING And never sell at a loss. Worst advice ever. It's sometimes wiser to sell at a loss than to lose it all like many will now. Damn, you're terrible at trolling Sevvero. Atleast put more effort than a 10 yrs old. |
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seriouscoin
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September 18, 2014, 09:34:52 PM |
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Miners dumping and/or retailers dumping (by proxy). Don't buy shit with BTC until retailers stop dealing with payment processors that dump on the market. And never sell at a loss.
Next difficulty 18% jump in 7 days.... yikes! |
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spiderbrain
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Merit: 1013
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September 18, 2014, 10:50:32 PM |
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My guess is some of these Chinese mega-mining operations have been funded with high interest loans and are losing money. Other operations aren't as close to bankruptcy, so it would make sense for the more solvent operations to sell as low as possible to drive the competition out of business, buy them up for next to nothing and then stop selling.
It's a bit like when Rupert Murdoch was selling the Times for 10p just to drive the other newspapers out of business, he had a bigger line of credit.
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tabnloz
Legendary
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Activity: 961
Merit: 1000
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September 18, 2014, 10:58:35 PM |
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Don't be stupid. Merchants accepting BTC and converting it automatically to fiat. Ex BTC users not buying back in again, because they don't trust scam money anymore. Everyone just wants to get rid of it, miners, too. It's a long way down. SELL NOW OR LOSE EVERYTHING And never sell at a loss. Worst advice ever. It's sometimes wiser to sell at a loss than to lose it all like many will now. Damn, you're terrible at trolling Sevvero. Atleast put more effort than a 10 yrs old. Aka The Angry Troll At least the failllling persona was good for laugh, this one is painful. Although they all seem to be part of the same gang. |
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TinaK
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September 19, 2014, 01:31:49 AM |
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I know that such things had happened many times in China, but nobody has managed, no one would dare to manage.
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AceOfWands
Newbie
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Activity: 9
Merit: 0
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September 19, 2014, 04:07:18 AM |
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Price manipulation may be going on, but the price of a bitcoin is still high compared to the cost of mining it. When the hashrate curve flattens out again (as it has before), or at least when the "cost of mining a bitcoin" flattens out near (but less than) a bitcoin, we will have a correct bitcoin price. This will happen either if the bitcoin price goes low enough or the hash rate goes high enough. Since the current hash rate is still going up, we don't have a low enough bitcoin price yet.
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hodlmybtc
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September 19, 2014, 04:12:04 AM |
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Price manipulation may be going on, but the price of a bitcoin is still high compared to the cost of mining it. When the hashrate curve flattens out again (as it has before), or at least when the "cost of mining a bitcoin" flattens out near (but less than) a bitcoin, we will have a correct bitcoin price. This will happen either if the bitcoin price goes low enough or the hash rate goes high enough. Since the current hash rate is still going up, we don't have a low enough bitcoin price yet.
Have you got any idea how much it costs to mine 1 BTC currently? |
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seriouscoin
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September 19, 2014, 04:16:53 AM |
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Price manipulation may be going on, but the price of a bitcoin is still high compared to the cost of mining it. When the hashrate curve flattens out again (as it has before), or at least when the "cost of mining a bitcoin" flattens out near (but less than) a bitcoin, we will have a correct bitcoin price. This will happen either if the bitcoin price goes low enough or the hash rate goes high enough. Since the current hash rate is still going up, we don't have a low enough bitcoin price yet.
Have you got any idea how much it costs to mine 1 BTC currently? No, but he likes to open his mouth anyway to sound like hes smart. Too bad, the dumbest usually sound the loudest. |
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Hunyadi
Legendary
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Activity: 1281
Merit: 1000
☑ ♟ ☐ ♚
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September 19, 2014, 04:22:34 AM |
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next block halving in 2017.
So, the hash rate is going to start dropping and continue dropping for an extended period of time? Anything is possible! Block halving is in 2016 http://bitcoinclock.com/ |
▂▃▅▇█▓▒░B**-Cultist░▒▓█▇▅▃▂
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