Topic: Once More Unto the Breach, Dear Friends, Once More! | WSC Team - page 3. (Read 3106 times)

Its not about what they'll actually do, its about the perception of traders.

Take China for example, the net effect of government legislation was very minimal on longterm markets because BTC traders eventually just found ways to bypass the legislation, but the short term effects were massive.

At a point when Bitcoin was approaching major resistances the news was released and it exacerbated a capitulation that was very likely anyway.  Longterm the markets recovered but the point of the article isn't to address the longterm effects investors may be interested in its to address the short term effects trader would be interested in. 

Now can you honestly say the FBI dumping 25 million dollars in Bitcoin onto the market will have no short term effect?

No fool would make that claim, and for traders this will likely mean a significant short term opportunity over the next 1-2 weeks.  For investors the net effect here will likely be zero.

So take it for what its worth to you.

If they understand it then how is auctioning off Bitcoin (likely) way under market price a good thing?  Even if it doesn't end up on the exchanges from the gov. it does from the auction winners, this likely mitigates the effects but doesn't negate them.

Yeah the writer of that article didn't do his research or is at least not very smart, since he actually believes the FBI will dump like morons on an exchange lol. Sorry but that's just retarded and I can't take anyone seriously who reasons like that. Don't know if the writer of that article is you or not, but good luck if you listen to that crap...

Most traders and just regular people on this forum seem to have understood this already. In fact it has been discussed for weeks now. They will auction them. People from this forum actually made offers to them. I am afraid that in this case you really have not read up on here before making your report.

EDIT: ... Or scenario no. 2: This is simply FUD.

You have made a nice website. Don't get a reputation for biased analysis otherwise it's a waste.

Once again, how, where, and when the FBI dumps these coins is secondary to the sentiments of traders.  The FBI is likely to auction the coins off, but if you were a whale with 1-2 million in bitcoin would you bet a fortune on that?

Odds are most people would even bet a few hundred on the government acting responsibly with 25 million dollars.  God knows they haven't in the past!

So the point, as always, is how will the traders view this?

Get Karhu out here MatTheCat: maybe he'll convince me! 

Another comment from someone who didn't read the article....


"With the FBI dumping 25 million dollars worth of Bitcoin into the market we actually ended up with the opposite kind of catalyst I was hoping for.  If the government ends up actually trying to dump the coins responsibly, which I doubt they will, sentiments of the traders will still send the markets into a downward spiral.  If the government decides to dump the coins like morons, which would be par for the course, we'll end up with a 25 million dollar sell wall, plus absolutely pessimistic traders."


Someone here isn't doing their research very well that's for sure.

OMFG T.Stuart.

Either you wisen up or you are gonna go down a fucking powder!

I bet this will all be timed for the China exit at the end of the month.

Time for you to "accumulate" your coins then! 

They're not going to dump it on an exchange, they're simply auctioning them off-exchange. You not knowing this means you're not doing your research very well, so I can't take this analysis seriously either. We may or may not break down from here, but it has nothing to do with this.

As we every so slowly sink into the accumulation zone as I type this.

Also the 'FBI dump' is addressed as a end of cycle catalyst, not as a game changing event.  Where the coins end up isn't as important as the sentiments of traders.

This is the body of the thread not of the article.

Oh! 

I didn't realise at first but the OP is the analyst from Wall Street Crypto.

Considering he made a prediction of a catastrophic crash a couple of weeks back which is really dragging its heels now... Actually no, it must just be a coincidence that he's making new drama threads about things that everyone already knows about! 

This has been discussed ad infinitum already.

They will sell at auction with no effect on exchange prices. Just like the off exchange sales that go on all the time.

FUD by OP! 

I doubt if they'll dump it on an exchange.  It'll probably end up being auctioned off just like any other seized asset.  Of course the person buying it at auction could dump on an exchange, but I think they'd be a bit more careful about how they dump to try to preserve the value of their coins.

And the Award of posting 17th thread with same stuff inside goes to.....

Sources provided, you can trade w/e way you please but I can't imagine any scenario in which a 25 million dollar dump would be a good thing.

Bullshit! 

Not only are we not getting the payment processor catalyst I was hoping for the FBI just announced it will be dumping 25 million dollars in Bitcoin into the market.  Things aren't looking good, I'd exit long positions immediately.

http://www.wallstreetcrypto.com/2014/01/once-more-unto-breach-dear-friends-once.html


EDIT:

Note the use of the work into the market not into exchanges before you post on this thread.

Most people aren't reading the article they're just posting based on the summary so to elaborate on the actual point of the article here is a response I wrote to a comment earlier;

'Its not about what they'll actually do, its about the perception of traders.

Take China for example, the net effect of government legislation was very minimal on longterm markets because BTC traders eventually just found ways to bypass the legislation, but the short term effects were massive.

At a point when Bitcoin was approaching major resistances the news was released and it exacerbated a capitulation that was very likely anyway.  Longterm the markets recovered but the point of the article isn't to address the longterm effects investors may be interested in its to address the short term effects trader would be interested in.  

Now can you honestly say the FBI dumping 25 million dollars in Bitcoin onto the market will have no short term effect?

No fool would make that claim, and for traders this will likely mean a significant short term opportunity over the next 1-2 weeks.  For investors the net effect here will likely be zero.

So take it for what its worth to you.'