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Topic: any news driving this drop - page 2. (Read 2464 times)

sr. member
Activity: 406
Merit: 250
July 18, 2013, 08:27:55 AM
#7

No forced selling of BTC, only forced selling of SD shares.  Some people are theorizing that the large BTC payout led to the drop in exchange rate, but that doesn't make a lot of sense to me.  The alternative view is that a BTC company was just sold for a significant sum showing that the BTC economy is thriving.

Small market.  That is a huge amount.

People will be selling to make profits causing the charts to look negative.  People panic and sell.

Imagine a 100,000 BTC sell on the market.

Total sell on BTC-E: 6560 BTC

Seems like the price drop is just beginning.  I'd sell now, too, and then buy back at a new bottom.

sr. member
Activity: 406
Merit: 250
July 18, 2013, 08:26:51 AM
#6
Satoshi Dice got sold for $12.4 million and shares get a forced buyback.
(you can also see other stocks like Asicminer raising in price)

Gonna be some cheapies soon!
full member
Activity: 120
Merit: 100
July 18, 2013, 08:22:59 AM
#5
re forced buyback - how does that work?  all 123K BTC worth  of satoshidice shares must be sold within hours??  Please elaborate?

No forced selling of BTC, only forced selling of SD shares.  Some people are theorizing that the large BTC payout led to the drop in exchange rate, but that doesn't make a lot of sense to me.  The alternative view is that a BTC company was just sold for a significant sum showing that the BTC economy is thriving.
sr. member
Activity: 364
Merit: 250
July 18, 2013, 07:36:28 AM
#4
http://bitcoinmagazine.com/satoshidice-sold-for-12-4-million/

The trading platform will take care of this, I guess. Share hoders will receive Btc and lose the share.
member
Activity: 85
Merit: 10
July 18, 2013, 07:27:39 AM
#3
re forced buyback - how does that work?  all 123K BTC worth  of satoshidice shares must be sold within hours??  Please elaborate?
sr. member
Activity: 364
Merit: 250
July 18, 2013, 07:18:53 AM
#2
Satoshi Dice got sold for $12.4 million and shares get a forced buyback.
(you can also see other stocks like Asicminer raising in price)
member
Activity: 85
Merit: 10
July 18, 2013, 07:18:04 AM
#1
Awoke to see quick dive from 97 to 87 in just a few hours - has there been any news triggering this selling, or does it look like one source dumping, or what?
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