Almost one per cent of the bigcoins in circulation were released today!

finnthecelt

full member

Activity: 140

Merit: 100

Quote from: aahzmundus on June 11, 2011, 05:33:18 PM

Quote from: Serge on June 11, 2011, 04:53:19 PM

Over 20% of all existing bitcoins exchanged hands in the past 24 hrs!

Total BTC 6,506,200 BTC

Bitcoins sent
last 24h
1,395,579.13 BTC

Not likely... you could find out if that is true looking at the blockchain, but I imagine far less then 20% changed hands multiple times as people thought they were buying up at the bottom out. There is good money to be made here as some people fall to fear, and the price drops farther then it should. If only I had some money available to buy in now!

Farther than it should? What's the floor on this? Where should it be? It'll take awhile before the price actually stabilizes and finds a trading range.

aahzmundus

hero member

Activity: 644

Merit: 500

Invest & Earn: https://cloudthink.io

Quote from: Serge on June 11, 2011, 04:53:19 PM

Over 20% of all existing bitcoins exchanged hands in the past 24 hrs!

Total BTC 6,506,200 BTC

Bitcoins sent
last 24h
1,395,579.13 BTC

Not likely... you could find out if that is true looking at the blockchain, but I imagine far less then 20% changed hands multiple times as people thought they were buying up at the bottom out. There is good money to be made here as some people fall to fear, and the price drops farther then it should. If only I had some money available to buy in now!

RandyMarsh

full member

Activity: 237

Merit: 100

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Thats almost literally the most retarded thing i've ever heard...

imperi

full member

Activity: 196

Merit: 101

Quote from: bitcoinminer on June 11, 2011, 05:26:48 PM

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Check that math... $20 minus 110 percent equals... negative $22.

$10->$20 = 100% increase
$20->$10 = 50% decrease

True, but you forgot to mention the assumption that you are only dealing in base 10.

bitcoinminer

sr. member

Activity: 322

Merit: 252

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Check that math... $20 minus 110 percent equals... negative $22.

$10->$20 = 100% increase
$20->$10 = 50% decrease

Serge

legendary

Activity: 1050

Merit: 1000

Over 20% of all existing bitcoins exchanged hands in the past 24 hrs!

Total BTC 6,506,200 BTC

Bitcoins sent
last 24h
1,395,579.13 BTC

gigitrix

hero member

Activity: 630

Merit: 500

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Not in the slightest. Probably just added a little bit to this cyclical correction.

imperi

full member

Activity: 196

Merit: 101

It's percentage so you have to multiply by 0.01, so he meant 1.1BTC drop.

Synaptic

member

Activity: 84

Merit: 10

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Pretty sure he meant -110% growth within the last 48 hrs, not total value...

Jaime Frontero

full member

Activity: 126

Merit: 100

Quote from: Man From The Future on June 11, 2011, 03:04:30 PM

Where can I get bigcoins? What's their exchange rate? Can I mine them? ;P

Am I paid 2.1 dollars every time I get one because of the negative exchange rate, fi it is relative to BTC?

nope. you have to earn them.

and all this time you thought the men in porn movies didn't get paid as well as the women...

Man From The Future

sr. member

Activity: 371

Merit: 250

Where can I get bigcoins? What's their exchange rate? Can I mine them? ;P

Am I paid 2.1 dollars every time I get one because of the negative exchange rate, fi it is relative to BTC?

Jaime Frontero

full member

Activity: 126

Merit: 100

Quote from: dust on June 11, 2011, 03:00:28 PM

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Check your math, a 110% drop would mean the price went negative.

AIIYYYEEEE!

you mean people will pay me to take their Bitcoin?

bring it!

k

sr. member

Activity: 451

Merit: 250

Quote from: dust on June 11, 2011, 03:00:28 PM

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Check your math, a 110% drop would mean the price went negative.

yeah dropped so far they're paying people to take them. where can I sign up Grin

dust

hero member

Activity: 840

Merit: 1000

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

Check your math, a 110% drop would mean the price went negative.

finnthecelt

full member

Activity: 140

Merit: 100

Quote from: hamdi on June 11, 2011, 02:57:57 PM

release of 1% causes a 110% price drop....

The majority of them will be bought and held. Gresham's law.

Aka, nowhere to spend them yet!!

YoYa

hero member

Activity: 809

Merit: 501

Always verify deals with me through my public key!

It's a rare event, events precipitate falls, the gains from the increased distribution will outweigh the fall. Cool

hamdi

hero member

Activity: 826

Merit: 500

release of 1% causes a 110% price drop....

YoYa

hero member

Activity: 809

Merit: 501

Always verify deals with me through my public key!

So the news is the fall......but the real good news is that one of the top ten in the rich list has relinquished their holdings and let their coins run free in the bitcoin economy!!! Now those coins rest in the hands of hundreds of individuals who will hopefully do more with them then hoard them. We've just had a bitcoin stimulus, may our economy be all the better for it.

Liquidity is good!

That is all.

Topic: Almost one per cent of the bigcoins in circulation were released today! (Read 2089 times)