3,2,1 and PANIC Or do we? | Bitcointalksearch.org

CubedRoot

sr. member

Activity: 291

Merit: 250

Quote from: JupeB on August 19, 2012, 06:43:13 AM

BFL unloading BTC to pay pills?

They had to accumulate a ton of Bitcoin with the pre-orders for their new ASIC modules, and they must have to liquidate some of their Bitcoin holdings in order to pay their suppliers. It will be interesting to see how often this happens over the coming months.

No, its not BFL "unloading" to pay some bills. When I ordered my ASIC rig from them, they wanted me to pay my bitcoins through BitPay. So, BFL is probably getting their payments as USD from bitpay instead of Bitcoins.

hacknoid

sr. member

Activity: 418

Merit: 252

Proud Canuck

If you look at the overall trend, the valuation is still up quite nicely for the year. I did a little projection a couple of months back, and we were looking at a nice target of about $8 by year end. If you look at the all time chart (and hold your fingers to cover up the bubble from May-November last year), there is a reasonable growth indicated. Even with this fallback BTC value is still looking good.

The astronomical rate of increase was looking like it wouldn't hold... at some point people were going to sell to reap their reasonable profit . You see this in the stock market all the time when a stock gets on a nice run. I think that's what happened here, whether it was pirate or someone else. Maybe caused a little concern from other people to also prompt them to sell, but personally I think its good to shake out those people every now and again. I am in it for the long term, and am happy to just ride out this bump.

Just need to not overreact...

mobodick

hero member

Activity: 840

Merit: 1000

Quote from: kilcondlost on August 19, 2012, 08:16:02 AM

Everyone was happy two weeks ago when it hit $9.00 now everyone is freaked out its $9.00.

Hey, speculation is a relative hobby.
Absolutes are not realy part of the game.
People were happy with $9 because we came from a lower value.
Now people are bitching because we have come from $15, which is a devaluation of over 30%.
Or do you think that a value of $9 realy means something?

420

hero member

Activity: 756

Merit: 500

Quote from: kilcondlost on August 19, 2012, 08:16:02 AM

Everyone was happy two weeks ago when it hit $9.00 now everyone is freaked out its $9.00. Its been doing good with it going up and somone always has to screw it up i.e. Pirate or the people that hit bitcoinica before, or when the bubble blew last year. Last year people were all bitching when the difficulty was 1.4million and bitcoin was at $15 each saying it was time to shut down. Its all about perspective, and xanax.

A little irrellevant but it has something to do with it. Think of a person who goes on the game show who wants to be a millionaire and they are going for the million dollars. Well they have just hit the million dollar question and turned down the $500,000, but they have already locked in the $64,000(which no matter what they get). They blow the million dollar question and only walk out with the $64,000 and its the worst day of their life because they just lost $436,000. But on the other hand if someone just walked up to you and handed you 64,000 dollars it would be the best day of your life.

pretty decent analogy

squall1066

copper member

Activity: 2310

Merit: 1032

Alot of valid points here, yes let's not forget why were all doing this! lol and remember where we came from in the first major problems, I really think were doing well to hold this (fairly) together after a huge support may (or may not) be pulled from under us.
Let's not speculate what pirate is doing, there are plenty of other threads about this!!
Personaly I think it needs to level off a bit lower then it can be built on again.

kilcondlost

full member

Activity: 140

Merit: 100

Everyone was happy two weeks ago when it hit $9.00 now everyone is freaked out its $9.00. Its been doing good with it going up and somone always has to screw it up i.e. Pirate or the people that hit bitcoinica before, or when the bubble blew last year. Last year people were all bitching when the difficulty was 1.4million and bitcoin was at $15 each saying it was time to shut down. Its all about perspective, and xanax.

A little irrellevant but it has something to do with it. Think of a person who goes on the game show who wants to be a millionaire and they are going for the million dollars. Well they have just hit the million dollar question and turned down the $500,000, but they have already locked in the $64,000(which no matter what they get). They blow the million dollar question and only walk out with the $64,000 and its the worst day of their life because they just lost $436,000. But on the other hand if someone just walked up to you and handed you 64,000 dollars it would be the best day of your life.

mobodick

hero member

Activity: 840

Merit: 1000

Quote from: Melbustus on August 19, 2012, 04:17:20 AM

Stop being a weak-minded short-term thinker. Either accumulate BTC because you believe in it for the long-haul, or don't.

(sorry - just getting a little sick of some of the infantile approach to markets around here...)

Aah, so can i assume you've bought in at $14 and are losing money right now?

420

hero member

Activity: 756

Merit: 500

Quote from: Comodore on August 19, 2012, 07:15:27 AM

Sell sellll
SEEEEEEEEEEEL

Sell *shhh* sell.............not all of it

Comodore

full member

Activity: 159

Merit: 100

Sell sellll
SEEEEEEEEEEEL

420

hero member

Activity: 756

Merit: 500

Quote from: ?? on ??

Hopefully the market will go into a panic, the last thing we want is a nice stable $100 BTC that suddenly drops to $5 the day someone needs a large amount of fiat in a hurry.

There will be a lot of coins coming into circulation next week, this will scare off anyone with little confidence in the system. After that FBI report we should expect more of this kind of thing and it will likely backfire on anyone planning to attack bitcoin by destabilising the value.

This will rebound quickly and that's the kind of thing speculators love to see, imho they're hyenas but they fight each other to take a bite and that coupled with lending protects against fluctuations.

By the end of next week 1 BTC could well be worth less than $10 but it wont be kicked around so easily, Bitcoin needs solid foundations.

what is the FBI report

420

hero member

Activity: 756

Merit: 500

Quote from: tiberiandusk on August 19, 2012, 06:58:47 AM

Quote from: robbonz on August 19, 2012, 06:56:56 AM

Who the hell is this Pirate everyones on about?

Way I read it in New Scientist, apparently all the dealers on SR are making 11,000+ BTC per month, and hey those guys have gotta get paid... and that's the way it is.

Pirate is some guy running a ponzi scheme which is going belly up.

bitcoin savings & trust started november last year or something around that time

tiberiandusk

hero member

Activity: 575

Merit: 500

The North Remembers

Quote from: robbonz on August 19, 2012, 06:56:56 AM

Who the hell is this Pirate everyones on about?

Way I read it in New Scientist, apparently all the dealers on SR are making 11,000+ BTC per month, and hey those guys have gotta get paid... and that's the way it is.

Pirate is some guy running a ponzi scheme which is going belly up.

robbonz

newbie

Activity: 25

Merit: 0

Who the hell is this Pirate everyones on about?

Way I read it in New Scientist, apparently all the dealers on SR are making 11,000+ BTC per month, and hey those guys have gotta get paid... and that's the way it is.

Insu Dra

full member

Activity: 182

Merit: 100

Quote from: JupeB on August 19, 2012, 06:43:13 AM

BFL unloading BTC to pay pills?
It will be interesting to see how often this happens over the coming months.

+1

Quote from: joyyen on August 19, 2012, 06:44:41 AM

i think pirate40 is buying all the BTC to repay the all the BST holder cause the price drop !

expected price drop until 5usd per bitcoin !

-1, price doesn't drop when people buy ...

Not sure who but someone did definitely cash out to do what they had to do, highest volume sins February. Cool

joyyen

member

Activity: 99

Merit: 10

MMM EXTRA - THE RIGHT STEP TOWARDS THE GOAL

i think pirate40 is buying all the BTC to repay the all the BST holder cause the price drop !

expected price drop until 5usd per bitcoin !

JupeB

newbie

Activity: 22

Merit: 0

BFL unloading BTC to pay pills?

They had to accumulate a ton of Bitcoin with the pre-orders for their new ASIC modules, and they must have to liquidate some of their Bitcoin holdings in order to pay their suppliers. It will be interesting to see how often this happens over the coming months.

420

hero member

Activity: 756

Merit: 500

I think it's going down to $8 folks

Timbo925

sr. member

Activity: 352

Merit: 250

Picked some up for 9.60, sold before for 12.50 so quite happy atm.
If do expect a price to drop a little bit more but in the long term it will bounce back. Hopefully the market won't go into a panic. That is the only big risk atm.

tiberiandusk

hero member

Activity: 575

Merit: 500

The North Remembers

An upside to people selling off a ton of coins is that there are also a ton of coins being bought. Spread them around boys. I say it bottoms out at around $7-8 unless people really start to freak.

420

hero member

Activity: 756

Merit: 500

Quote from: viboracecata on August 19, 2012, 06:15:13 AM

I hope it can drop back to 5$

HOLY FUCK it's under $10

when i first got in at under $8 or $9 and it shot up quick i told myself it will probably go down after going up so quick
the penny stock researcher in me. but it didn't. a lot of built up- upside inevitably has to go down

Topic: 3,2,1 and PANIC Or do we? (Read 3067 times)