Topic: nothing is here (Read 3262 times)
If he has been day trading on BTC vs Fiat he hasn't been doing it on MtGox with anything like 500K.
If we assume that he has 500K right now, he could sell al of them on MTGox pushing the price of bitcoins down to 1,5 (btc/usd). The additional panic sell could help him to push the price BTC/USD towards 0.13.
And in such case he'd be able to buy all the bitcoins he'd need for almost a 100th part of their recent price.
Sorry...
You argue that selling 500k would push the price down and incite panic selling but do not acknowledge that then buying 500k would cause the price to rise and incite panic buying?
+ MtGox commissions + risk of price movements/insufficient drop
=
Does not compute.
I was much more suspicious about pirate40, because he was offering a virtually unlimited deposit, which is more useful for the ponzi.
I would call 10 million [email protected] BTC virtually unlimited. He has said himself that he will sell more shares when the price is above 0.1, and it's easy to see from the dividend list that he does. I'm seeing it almost every day receiving 1% on GBLSE from OBSI.HRPT, for instance, which means that he is making more than that.
And you can see it by yourself if you have a successful strategy of trading.
So basically you're using what appears to be just another ponzi as proof? He's even doing the 'I'm just a middle man' trick that the ponzi guide suggests.And you can see it by yourself if you have a successful strategy of trading.
It's actually not the 1% that is suspicious. It's the claim that it will scale to the numbers they suggest, and that they will freely give away this gold mine.
As we can see, the successful traders ARE actually able to make 1% in bitcoins (or more) a day.
Where do we see this? 
I'm just seeing that people are appreciating BTCs less after the Friday announcement and after the following downfall, so if the price goes down they ask less for BTCs.
People, me included, are waiting for the next dump since he still hasn't repaid his debt and he will try something by the looks of it. When Vandroiy gets his 5KBTC I will consider Pirate to be basically out of the game and resume normal operation.
I see. But probably he has no means to dump the market again. Now he has to buy ;-)
I'm fine with that too, let him buy at $10. I didn't sell any coins and I continue mining. No dump? no probs, I can wait two weeks.
I'm just seeing that people are appreciating BTCs less after the Friday announcement and after the following downfall, so if the price goes down they ask less for BTCs.
People, me included, are waiting for the next dump since he still hasn't repaid his debt and he will try something by the looks of it. When Vandroiy gets his 5KBTC I will consider Pirate to be basically out of the game and resume normal operation.
There's not enough BTC total worldwide trading volume to support this day-trading theory. Maybe on 5% of his total deposits, lol.
We have 250K BTCs on MTGox right now to buy
Yes, but that amount doesn't change hands daily. More like 40k
If we assume that he has 500K right now, he could sell al of them on MTGox pushing the price of bitcoins down to 1,5 (btc/usd). The additional panic sell could help him to push the price BTC/USD towards 0.13.
Dont know if troll or serious...Look yourself how deep you'll go if you sell 500K on MTGOX:
http://bitcoincharts.com/markets/mtgoxUSD_depth.html
I have no bids right now in MtGox, but if it tanked anywhere near that, I'd bid my house, my mom, my future first born, and my left bollock. Well, in the meanwhile I'd just bid all the fiat I just loaded in my account waiting for the rain to come.
You are assuming people won't bid after a movement like that, which is ridiculous. Even Pirate waited for the weekend for his move, when it takes more time to load up. It won't be a surprise next time.
It depends on how much panic would it create.
These day we've seen 30% fall of the price only because of Fridays announcement and perhaps some support to it through selling more or less 10K BTC.
But if the price would fall down to 1.5 maybe some buyer would suspend their offers and some sellers would follow the panic path.
At those prices a few people with enough money that arent completely mentally insane will buy so many BTC that your price will not fall due to a short time panic. If there is another reason that it will fall even further, i.e. a security flaw or any other real reason, it will go lower. But thats not because some guy sells 500k.These day we've seen 30% fall of the price only because of Fridays announcement and perhaps some support to it through selling more or less 10K BTC.
But if the price would fall down to 1.5 maybe some buyer would suspend their offers and some sellers would follow the panic path.
People will add a ton of buy orders and buy up again, surely not to the old price, but i'd say at least to 3$.
Look yourself how deep you'll go if you sell 500K on MTGOX:
http://bitcoincharts.com/markets/mtgoxUSD_depth.html
It would stay at that price for around 20 seconds before being back at 3$+ and it would never ever go down to 0.13$ (at least not with one 500k sell) http://bitcoincharts.com/markets/mtgoxUSD_depth.html
There's not enough BTC total worldwide trading volume to support this day-trading theory. Maybe on 5% of his total deposits, lol.
If we assume that he has 500K right now, he could sell al of them on MTGox pushing the price of bitcoins down to 1,5 (btc/usd). The additional panic sell could help him to push the price BTC/USD towards 0.13.
Dont know if troll or serious... 
nothing is here
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