QuestionAuthority
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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January 07, 2015, 04:45:44 AM |
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Hey, have you guys heard the news? The price is tanking because of all those dumped Bitstamp coins. lol
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gog1
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January 07, 2015, 05:26:50 AM |
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I guess people see that coins are stolen and sell in anticipation of a dump by the thief.
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philiveyjr
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Activity: 840
Merit: 1000
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January 07, 2015, 06:10:17 AM |
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People keep attributing the fall to $270 on the 19k coins being dumped on Finex or other exchange(s). This is not the case!! The coins haven't moved out of the address they were sent to ----- > https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCfCould the fall have been due to dumping precipitated by insider info..? yes. Were the hacked Bitstamp coins dumped..? no. Can the coins be dumped..? not easily and definitely not in a way that is going to crash the market further. So just stop... please... thanks already... No one say the price crash because of the stolen coin. True..the price was already falling b4 this incident happened.!! lol only after it BTC became stable.!  |
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Magicman420
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January 07, 2015, 07:20:21 AM |
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Omg what did I miss now :/
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QuestionAuthority
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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January 07, 2015, 08:21:41 AM |
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Omg what did I miss now :/
Not much. The price is dropping like a rock because some thief is selling all the Bitstamp coins. ROFL |
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Gleb Gamow
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Activity: 1428
Merit: 1145
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January 07, 2015, 08:26:02 AM |
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Hey, have you guys heard the news? The price is tanking because of all those dumped Bitstamp coins. lol
I thought it was because of all those BFL Monarch bitcoin miners that are about to go online, thus increasing the difficulty. |
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BitCoinNutJob
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January 07, 2015, 08:28:51 AM |
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The price crash could be because people think the coins might get dumped. |
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turvarya
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January 07, 2015, 08:32:59 AM |
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Everybody is talking about the price crash of Bitcoin because of the Bitstamp hack, and I am just sitting here mastur ... ahm ... looking at the price going up again ...
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QuestionAuthority
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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January 07, 2015, 08:38:32 AM |
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Everybody is talking about the price crash of Bitcoin because of the Bitstamp hack, and I am just sitting here mastur ... ahm ... looking at the price going up again ...
No, it's actually going down. Your screen just isn't refreshing fast enough.  |
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medialab101 (OP)
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January 07, 2015, 08:42:12 AM |
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Omg what did I miss now :/
Magicman420? Wait... Magic. + man, and men are know to wear Tuxedo's. + 420.... $4.20... the price of a Frappuccino!!! MagicalTux... is that you!! |
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Parazyd
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January 07, 2015, 09:58:35 AM |
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Epic! Wondering who'll follow them all  |
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ikydesu
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January 07, 2015, 10:07:26 AM |
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People keep attributing the fall to $270 on the 19k coins being dumped on Finex or other exchange(s). This is not the case!! The coins haven't moved out of the address they were sent to ----- > https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCfCould the fall have been due to dumping precipitated by insider info..? yes. Were the hacked Bitstamp coins dumped..? no. Can the coins be dumped..? not easily and definitely not in a way that is going to crash the market further. So just stop... please... thanks already... That's hacker address  Still confuse about the impact bit stamp hacked to bit coin price |
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medialab101 (OP)
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January 07, 2015, 10:13:40 AM |
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People keep attributing the fall to $270 on the 19k coins being dumped on Finex or other exchange(s). This is not the case!! The coins haven't moved out of the address they were sent to ----- > https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCfCould the fall have been due to dumping precipitated by insider info..? yes. Were the hacked Bitstamp coins dumped..? no. Can the coins be dumped..? not easily and definitely not in a way that is going to crash the market further. So just stop... please... thanks already... That's hacker address Still confuse about the impact bit stamp hacked to bit coin price That is the address the coins were consolidated in after the hack. The practical implications of this are that there are now 18,000+ BTC that the market has to absorb which could bring down price. However, these coins can't be sold on an exchange because they are marked and that would identify the hacker. Also, Bitstamp is now short 18,000+ coins which they may need to buy on the open market which could cause the price to increase. And finally, Coinbase and others were using Bitstamp to place their orders. Now that Bitstamp is down their volume will be shifted onto other exchanges temporarily increasing the price (This is what probably caused the rise 12 hours ago). |
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Gleb Gamow
In memoriam
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January 07, 2015, 10:15:17 AM |
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Epic! Wondering who'll follow them all  "I will follow them, wherever they may go..." |
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Gleb Gamow
In memoriam
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Activity: 1428
Merit: 1145
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January 07, 2015, 10:18:08 AM |
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People keep attributing the fall to $270 on the 19k coins being dumped on Finex or other exchange(s). This is not the case!! The coins haven't moved out of the address they were sent to ----- > https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCfCould the fall have been due to dumping precipitated by insider info..? yes. Were the hacked Bitstamp coins dumped..? no. Can the coins be dumped..? not easily and definitely not in a way that is going to crash the market further. So just stop... please... thanks already... That's hacker address Still confuse about the impact bit stamp hacked to bit coin price That is the address the coins were consolidated in after the hack. The practical implications of this are that there are now 18,000+ BTC that the market has to absorb which could bring down price. However, these coins can't be sold on an exchange because they are marked and that would identify the hacker. Also, Bitstamp is now short 18,000+ coins which they may need to buy on the open market which could cause the price to increase. And finally, Coinbase and others were using Bitstamp to place their orders. Now that Bitstamp is down their volume will be shifted onto other exchanges temporarily increasing the price (This is what probably caused the rise 12 hours ago). Bitstamp won't have to buy bitcoins on the open or any other market. Their reserves are well-stocked. In fact, probably the latest bitcoin wallet address belongs to them, if not 5 of the top 10. |
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medialab101 (OP)
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January 07, 2015, 10:23:29 AM |
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People keep attributing the fall to $270 on the 19k coins being dumped on Finex or other exchange(s). This is not the case!! The coins haven't moved out of the address they were sent to ----- > https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCfCould the fall have been due to dumping precipitated by insider info..? yes. Were the hacked Bitstamp coins dumped..? no. Can the coins be dumped..? not easily and definitely not in a way that is going to crash the market further. So just stop... please... thanks already... That's hacker address Still confuse about the impact bit stamp hacked to bit coin price That is the address the coins were consolidated in after the hack. The practical implications of this are that there are now 18,000+ BTC that the market has to absorb which could bring down price. However, these coins can't be sold on an exchange because they are marked and that would identify the hacker. Also, Bitstamp is now short 18,000+ coins which they may need to buy on the open market which could cause the price to increase. And finally, Coinbase and others were using Bitstamp to place their orders. Now that Bitstamp is down their volume will be shifted onto other exchanges temporarily increasing the price (This is what probably caused the rise 12 hours ago). Bitstamp won't have to buy bitcoins on the open or any other market. Their reserves are well-stocked. In fact, probably the latest bitcoin wallet address belongs to them, if not 5 of the top 10. Yeah, the loss only represents 10% of their total and they could just carry on the way they are with no problems... However, if they don't have 5 mil+ of surplus coins laying around then they will be running a fractional reserve which means no one is going to trust them again. Their last audit was about a year ago so after they are back up and running there are going to be calls for them to prove their reserves and to give details of the hack. |
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Vessko
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January 07, 2015, 10:34:14 AM |
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He can buy 18K BTC worth of darkcoin I very much doubt it. We are talking about $5 mil worth of BTC here. The whole DarkCoin market is about $8. Plus, I think the OP's point was that the stolen coins have not moved - not that they cannot be sold. It would be interesting to monitor this address and see when the coins start being spent. |
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medialab101 (OP)
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January 07, 2015, 10:38:28 AM |
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He can buy 18K BTC worth of darkcoin I very much doubt it. We are talking about $5 mil worth of BTC here. The whole DarkCoin market is about $8. Plus, I think the OP's point was that the stolen coins have not moved - not that they cannot be sold. It would be interesting to monitor this address and see when the coins start being spent. See update, coins are moving now. |
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Vessko
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January 07, 2015, 10:39:29 AM |
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I guess people see that coins are stolen and sell in anticipation of a dump by the thief. This is the key to successful speculation - anticipate the anticipators. |
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