Topic: Largest addresses and bitcoin movements. (Read 2923 times)

Fixed this one for you too.

This and your other post to this gentleman asking him to find a girlfriend... you seem to judge your self worth by engagement with womens? It's so random.
Why so insecure?

Been around longer than you bro, nice try!

Did you even read the comments?

yeah, newbie for 2 wks knows more about Bitcoin fundamentals than those of us who've been around for almost 4 yrs.

You guys know nothing about fundamentals... We are talking about $2m that was being created per day by mining! Now that it moved to $1.4m per day you think its a good deal when this illiquid market isn't even bringing in half that per day. Half of our current level of 300 would be 150 & that still won't even stop this super fast downfall!

Welcome to the first long term BTC bear market, we are 10month in.

but they're tolerable and improving.  such is the nature of open source development.

none of the negative fundamentals for Bitcoin have changed either

such poor understanding of the psychology behind trading.  as the price drops to lower and lower levels, more and more ppl become interested in buying at what they now consider to be reasonable prices.  as none of the positive fundamentals for Bitcoin have changed and the protocol remains secure, this dynamic is ensured.  we see precious tangible evidence of this in the great chart posted by inca of early adopter not selling, but instead buying.  it's the bears who are in denial and so so focused on the price as if it's the be all and end all for Bitcoin's future.

what a bunch of idiots.

Sell orders are still being filled. Also, I introduced it to a person who hadn't heard of it yet just yesterday, who has money to spend, and he was interested.

As I've said before, this place is basically a cult now, and ones who remain in the bitcoin bull camp have exercised their cognitive dissonance and will deny any piece of information that does not fit their world view. This is human nature, you can see religious fanatics do it all the time.

The saddest thing is, the ETF does not matter nearly as much as they think it does. Anyone who wants to buy bitcoin has already done it, nobody is sitting around on their hands wishing they could get in on this market which has fallen 70% in one year.

Not looking too shabby. Went a bit lower than expected. Let's see if some buying volume turns up. Come on traders!

yep, this pullback just gives us an opportunity to load up Moar.

A good thing to take from the chart is that while many Top 100 & 500 address sold off on the way down after the peak (looks like around March, Goxtime), they have steadily bought back in and resumed their uptrend in numbers held since

Another hero on the forum posted something about the Chinese buying fresh coins off mining farms there and transferring the bitcoins offshore to be sold on exchanges for dollars. That might explain why this bear market has lasted as long as it has against a backdrop of otherwise incredibly bullish news (and potential developments). Everyone is hoping bitcoin can become big in the remittance markets. Perhaps the Chinese are a few steps ahead and defeating capital controls with btc as we speak.

Thinking about it though, that would only account for a maximum of 3600 coins a day selling pressure on the exchanges. It is likely to be less than that as not all miners will sell. However this added sell pressure could  continue unabated until the next halving.

My gut tells me this the down trend in price is a combination of large speculator manipulation, technical small speculators trading the momentum (shorts at ATH for year, most small specs dumped already..though chatter loudly on here), increased mining supply on exchanges and a tiny amount of merchant selling. I am not sure the general public is adopting in a big way as the price is going the wrong way to attract attention.

I am not selling now, and will make one more purchase of 80 coins upwards depending upon how low the price drops this time round. My expectation is that we probably are in for more pain, flash crash downwards but turn upwards around 300, on massive volume, after some btfinex long capitulation, with shorts above ATH before they are burned very heavily by a surprisingly quick bounce back up into the 400-500 range. I expect the ETF to be announced at some stage that looking back will show it allowed insiders to accumulate at a very convenient low price.

Predictions are dangerous cypherdoc, but do you have any of your own?

 

I thought all the trolls were saying the early adopters were dumping?

Thanks for ignoring entirely the main point of discussion and derailing the thread.

I give up, ETF will be approved and bitcoin will be going to $10k when it does. I'm sure it will happen before the end of the year and that this is all just a big hoax. Congratulations on being right. Now enjoy your future riches.

Seems like the concept of common sense also eludes two millionaires, Kathleen Moriarty and law firm Katten Muchin Rosenman LLP. Indeed, in the face of such strong arguments I am not so sure as to why they judged it worthy of going forward with the ETF proposal  

You should propose your "common sense" legal counsil to them. I'm certain they could use it  

The concept of common sense eludes you. I know nothing about SEC policies like most here, but I do have a mind that can think and add two and two together. That is really all it takes. The ETF would have to follow numbers that are unregulated and in one instance anonymous(btc-e). I'm sure they will be just fine with that.