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Author Topic: Bitcoin made rich just a few but it ruined many  (Read 9320 times)
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October 03, 2014, 04:53:52 PM
 #101

..and you expect thet somehow, some way, everyone at once becomes rich?! Smiley)) What a bullshit topic.

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October 26, 2014, 09:15:14 PM
 #102

The decline in Bitcoin price is intentional manipulation.

Hedge Funds, Global Corporations, and yes even Governments are getting into Bitcoin. This isn't rumor this is fact.

These giant players may be new to Bitcoin, but they know how financial markets work. Simply put, they want to pay as little as possible per BTC, and they are going to make a fortune.

The BTC market is so thin it takes very little (in their world) to drive the price down.

Make no mistake that at this very moment companies like EBay, Amazon, and so on are in the process of suppressing the price of BTC, buying as much as they can, and holding. The money is nothing to them big picture wise.

Then when the announcement comes, the price will skyrocket, and they will have major supplies to slowly filter back onto the markets. 

As crazy as I sound, we're all really just waiting to hear the EBay (PayPal already on board and is owned by EBay) and Amazon (has already publicly said they find BTC interesting) announcement. Only a matter of time.

My last point, Amazon only runs a 1-2% profit margin. Yet they pay 2-4% in merchant fees for Visa/MC/Amex. Sales with BTC would double or triple their margin. That's huge. They would NEVER publicly talk about this, because they NEED Visa, Amex, and MC.... But they are thinking it.

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October 26, 2014, 09:35:23 PM
 #103

The decline in Bitcoin price is intentional manipulation.
...
Strato

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October 26, 2014, 09:37:57 PM
 #104

The decline in Bitcoin price is intentional manipulation.

Hedge Funds, Global Corporations, and yes even Governments are getting into Bitcoin. This isn't rumor this is fact.

These giant players may be new to Bitcoin, but they know how financial markets work. Simply put, they want to pay as little as possible per BTC, and they are going to make a fortune.

The BTC market is so thin it takes very little (in their world) to drive the price down.

Make no mistake that at this very moment companies like EBay, Amazon, and so on are in the process of suppressing the price of BTC, buying as much as they can, and holding. The money is nothing to them big picture wise.

Then when the announcement comes, the price will skyrocket, and they will have major supplies to slowly filter back onto the markets. 

As crazy as I sound, we're all really just waiting to hear the EBay (PayPal already on board and is owned by EBay) and Amazon (has already publicly said they find BTC interesting) announcement. Only a matter of time.

My last point, Amazon only runs a 1-2% profit margin. Yet they pay 2-4% in merchant fees for Visa/MC/Amex. Sales with BTC would double or triple their margin. That's huge. They would NEVER publicly talk about this, because they NEED Visa, Amex, and MC.... But they are thinking it.

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While the stories remain murky, it's always best to temper your trades with some TA. Believing in stories true or not is dangerous.




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October 26, 2014, 09:40:16 PM
 #105

@NotLambchop What the heck is that? Wait, I know, some guy in King's Cross was handing it out? :-P




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October 26, 2014, 09:40:57 PM
 #106

What is true is that for big money, crypto as it is now is not attractive at all. Why make some of the current crowd rich?
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October 26, 2014, 09:45:52 PM
 #107

@NotLambchop What the heck is that? Wait, I know, some guy in King's Cross was handing it out? :-P

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October 26, 2014, 10:17:23 PM
 #108

The question is, if you invest now, will you be the one making huge profits or lose money Wink
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October 26, 2014, 10:38:19 PM
 #109

What is true is that for big money, crypto as it is now is not attractive at all. Why make some of the current crowd rich?

... the same as has it been always, fear of missing out and greed trumps envy.

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October 27, 2014, 01:21:25 AM
 #110

What is true is that for big money, crypto as it is now is not attractive at all. Why make some of the current crowd rich?

... the same as has it been always, fear of missing out and greed trumps envy.

Because they would like to enter a market without trumping these fools first? You are very naive.
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October 27, 2014, 01:49:29 AM
 #111

What is true is that for big money, crypto as it is now is not attractive at all. Why make some of the current crowd rich?

... the same as has it been always, fear of missing out and greed trumps envy.

Because they would like to enter a market without trumping these fools first? You are very naive.

... mmm, probably.

But where were you when the fools and the naive were building things that could make the world a better place? Slumming it with the godlike, oh-so-wise big money supposedly?

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October 27, 2014, 01:52:48 AM
 #112

By a large margin, most bitcoins mined are not sold on exchanges. They are held. Most of the money on exchanges never saw a bitcoin wallet, they are only cash-in, cash-out traders. People that know Bitcoin, know that it is worth far more than gamblers about its future. Gamblers don't know anything about exponential growth. They only know how to bet on single digit margins, not two or three digit margins. They will still be playing single digit margins after they miss out on the next double or triple digit jump. That's just what they do.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 27, 2014, 02:40:19 AM
 #113

just do better than byuing and hodling and you probably won't lose even if the hodlers are ruined

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October 27, 2014, 03:55:45 AM
 #114

By a large margin, most bitcoins mined are not sold on exchanges. They are held. Most of the money on exchanges never saw a bitcoin wallet, they are only cash-in, cash-out traders. People that know Bitcoin, know that it is worth far more than gamblers about its future. Gamblers don't know anything about exponential growth. They only know how to bet on single digit margins, not two or three digit margins. They will still be playing single digit margins after they miss out on the next double or triple digit jump. That's just what they do.

+1  Although I believe the dynamics of held vs sold mined coins was as you suggest, but is quickly becoming, if not already, no longer.
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October 27, 2014, 04:17:27 AM
 #115

Fair enough points Wobber
It is a losing position currently that does not mean that it has to be in the future
Look forward to tommorrow and hope it doesnt bring destruction with it ^^

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October 27, 2014, 05:19:54 AM
 #116

By a large margin, most bitcoins mined are not sold on exchanges. They are held. Most of the money on exchanges never saw a bitcoin wallet, they are only cash-in, cash-out traders. People that know Bitcoin, know that it is worth far more than gamblers about its future. Gamblers don't know anything about exponential growth. They only know how to bet on single digit margins, not two or three digit margins. They will still be playing single digit margins after they miss out on the next double or triple digit jump. That's just what they do.

I'm learning a lot from you, brother. Very interesting

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October 27, 2014, 09:03:05 AM
 #117

By a large margin, most bitcoins mined are not sold on exchanges. They are held.
I like the idea, but how do you know? Do have some proof?

Quote
Most of the money on exchanges never saw a bitcoin wallet, they are only cash-in, cash-out traders.
Agree!

Quote
People that know Bitcoin, know that it is worth far more than gamblers about its future.
I really hope so, because my bank account is showing triple digit fiat figures lately.

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October 27, 2014, 09:15:11 AM
 #118

By a large margin, most bitcoins mined are not sold on exchanges. They are held.
I like the idea, but how do you know? Do have some proof?

Unless you see millions of bitcoins trading somewhere that I don't, I'll have someone add them to the charts. Last I saw somewhere, bitcoin days destroyed was far less than 10% which means that even if every bitcoin that changed addresses was sold, it still wouldn't be much. I would guess that less than 2% are exchanged. If you bring Mt Gox into the calculation, then it's really far less than 2%.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 27, 2014, 09:18:39 AM
 #119

By a large margin, most bitcoins mined are not sold on exchanges. They are held.
I like the idea, but how do you know? Do have some proof?

Unless you see millions of bitcoins trading somewhere that I don't, I'll have someone add them to the charts. Last I saw somewhere, bitcoin days destroyed was far less than 10% which means that even if every bitcoin that changed addresses was sold, it still wouldn't be much. I would guess that less than 2% are exchanged. If you bring Mt Gox into the calculation, then it's really far less than 2%.

Not sure what Bitcoin days destroyed has to do with newly minted coins being sold?

I too believe that the majority are held but the increasing number of transactions leads me to believe a good amount are changing hands off exchange

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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October 27, 2014, 09:32:50 AM
 #120

By a large margin, most bitcoins mined are not sold on exchanges. They are held.
I like the idea, but how do you know? Do have some proof?

Unless you see millions of bitcoins trading somewhere that I don't, I'll have someone add them to the charts. Last I saw somewhere, bitcoin days destroyed was far less than 10% which means that even if every bitcoin that changed addresses was sold, it still wouldn't be much. I would guess that less than 2% are exchanged. If you bring Mt Gox into the calculation, then it's really far less than 2%.

Not sure what Bitcoin days destroyed has to do with newly minted coins being sold?

I too believe that the majority are held but the increasing number of transactions leads me to believe a good amount are changing hands off exchange
Newly minted coins should be distributed. They could account for daily volume, but not much more. As far as off exchange trading goes, they have little bearing on price because we only have exchanges to report that. Dark pool trading is a game as much as open trading. I don't see the point to doing it.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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