Topic: Crossed 500 USD - Bull Market returns ? - page 19. (Read 22553 times)
aaaand we're under 500 again
And if the auction takes place when the market touches 1K usd ?
No one can exactly predict the future prices. But I'll give you some hints. The average BTC/USD trade volume in the three biggest exchanges (BTC-E, Bitstamp and Bitfinex) amount to some BTC60,000 per day. That means that selling 200,000 BTC might take more than a week, if everything goes well. 7 days of continuous downfall... how much that will be? Can be 20%.... can be 50%, or can be even 90%.
That is the law favoring corrupts and riches, If the news about mtgox BTC auction turns true wi might see a new low of 2014..!
There will be some hope if it is a private auction. Even in that case, if the auction price is much lower than the market rates, then the prices will decline steeply. For example, if the coins are auctioned at $380 when the market price is $480, then the person who purchased those coins will offload them to the market, to get immediate profit. Finally, the market price will also settle at $380.
And if the auction takes place when the market touches 1K usd ?
That is the law favoring corrupts and riches, If the news about mtgox BTC auction turns true wi might see a new low of 2014..!
There will be some hope if it is a private auction. Even in that case, if the auction price is much lower than the market rates, then the prices will decline steeply. For example, if the coins are auctioned at $380 when the market price is $480, then the person who purchased those coins will offload them to the market, to get immediate profit. Finally, the market price will also settle at $380.
Does Mt Gox own those 200k Bitcoins (their profit) or those are customer's coins ?
That is the problem with the Japanese liquidators. We all know that the coins belong to the customers. But according to the Japanese law, any assets belonging to a liquidated company should be auctioned.
Does Mt Gox own those 200k Bitcoins (their profit) or those are customer's coins ?
That is the problem with the Japanese liquidators. We all know that the coins belong to the customers. But according to the Japanese law, any assets belonging to a liquidated company should be auctioned.
They're auctioning the 200k Bitcoins? Can you link any source where I can read about this?
Seems really bad if it happens :/
Seems really bad if it happens :/
The news does not explicitly state that they are going to auction the coins, but it is normal in case of liquidation:
http://dealbook.nytimes.com/2014/04/16/former-bitcoin-exchange-mt-gox-set-to-liquidate-in-absence-of-revival-plan/?_php=true&_type=blogs&_r=0
Check this one as well:
https://bitcointalksearch.org/topic/mtgox-liquidation-how-will-selling-200000btc-affect-the-price-573289
Does Mt Gox own those 200k Bitcoins (their profit) or those are customer's coins ?
Theyre customers coins but now this is heading into liquidation then the liquidators will do whats easiest and best. Most people cant even use BTC so I very much doubt that a Japanese liquidator is going to be returning peoples funds in BTC...
They're auctioning the 200k Bitcoins? Can you link any source where I can read about this?
Seems really bad if it happens :/
Seems really bad if it happens :/
The news does not explicitly state that they are going to auction the coins, but it is normal in case of liquidation:
http://dealbook.nytimes.com/2014/04/16/former-bitcoin-exchange-mt-gox-set-to-liquidate-in-absence-of-revival-plan/?_php=true&_type=blogs&_r=0
Check this one as well:
https://bitcointalksearch.org/topic/mtgox-liquidation-how-will-selling-200000btc-affect-the-price-573289
Does Mt Gox own those 200k Bitcoins (their profit) or those are customer's coins ?
They're auctioning the 200k Bitcoins? Can you link any source where I can read about this?
Seems really bad if it happens :/
Seems really bad if it happens :/
The news does not explicitly state that they are going to auction the coins, but it is normal in case of liquidation:
http://dealbook.nytimes.com/2014/04/16/former-bitcoin-exchange-mt-gox-set-to-liquidate-in-absence-of-revival-plan/?_php=true&_type=blogs&_r=0
Check this one as well:
https://bitcointalksearch.org/topic/mtgox-liquidation-how-will-selling-200000btc-affect-the-price-573289
There is a real danger of the prices reaching rock bottom. If Mt Gox is actually liquidated (procedures have started), then its assets (including the 200,000 Bitcoins) will be auctioned. Even if the auction is private, the exchange rate can decline by more than 50%.
They're auctioning the 200k Bitcoins? Can you link any source where I can read about this?Seems really bad if it happens :/
There is a real danger of the prices reaching rock bottom. If Mt Gox is actually liquidated (procedures have started), then its assets (including the 200,000 Bitcoins) will be auctioned. Even if the auction is private, the exchange rate can decline by more than 50%.
We can't say for sure that we have seen the low for this year. The long term trend is bullish but competition from alternative coins currencies may put some pressure.
Shitcoins are not Bitcoin's competitor. Their prices are decided on Satoshi. Global currencies like USD, JPY, INR, EUR, GBP are the true competitors of Bitcoin.
But that is true for only USD_BTC pairs ...is not it ? Lot of xchanges now support EUR_BTC ...so that xchange rate will be decided on USD_EUR value on Forex.
We can't say for sure that we have seen the low for this year. The long term trend is bullish but competition from alternative coins currencies may put some pressure.
Shitcoins are not Bitcoin's competitor. Their prices are decided on Satoshi. Global currencies like USD, JPY, INR, EUR, GBP are the true competitors of Bitcoin.
We can't say for sure that we have seen the low for this year. The long term trend is bullish but competition from alternative coins currencies may put some pressure.
Shitcoins are not Bitcoin's competitor. Their prices are decided on Satoshi. Global currencies like USD, JPY, INR, EUR, GBP are the true competitors of Bitcoin.
btc high, btc low. its always a wild ride.
Truly it is, the price is one of those factors that we have chartbuddy and a super active speculation subforum for
We can't say for sure that we have seen the low for this year. The long term trend is bullish but competition from alternative coins may put some pressure.
This bumpy ride is going to continue till a french man dumps his coin wealth to pay his lawyers. As far as I can remember, a thread was made with some kinda blockchain proof, that he is dumping on BTC-e, though I believe he'll split this dumping across the globe. (I wish some exchange suspends FIAT withdrawal when he dumps ) So, be ready to ride the rollercoaster 
) So, be ready to ride the rollercoaster It took me a while to understand who you are talking about lol
This bumpy ride is going to continue till a french man dumps his coin wealth to pay his lawyers. As far as I can remember, a thread was made with some kinda blockchain proof, that he is dumping on BTC-e, though I believe he'll split this dumping across the globe. (I wish some exchange suspends FIAT withdrawal when he dumps ) So, be ready to ride the rollercoaster
) So, be ready to ride the rollercoaster It took me a while to understand who you are talking about lol
This bumpy ride is going to continue till a french man dumps his coin wealth to pay his lawyers. As far as I can remember, a thread was made with some kinda blockchain proof, that he is dumping on BTC-e, though I believe he'll split this dumping across the globe. (I wish some exchange suspends FIAT withdrawal when he dumps ) So, be ready to ride the rollercoaster
Well well, nothing new with that. ) So, be ready to ride the rollercoaster
This bumpy ride is going to continue till a french man dumps his coin wealth to pay his lawyers. As far as I can remember, a thread was made with some kinda blockchain proof, that he is dumping on BTC-e, though I believe he'll split this dumping across the globe. (I wish some exchange suspends FIAT withdrawal when he dumps ) So, be ready to ride the rollercoaster
) So, be ready to ride the rollercoaster Jump to: