Topic: Stop talking about the damn SR coins - it is the LEAST significant price mover - page 2. (Read 3226 times)

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Quote from: brg444 on June 25, 2014, 06:51:30 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

The coins seized from SR wallet are 30k, the ones belonging to Ross are 140,000ish.

There is absolutely no evidence about law enforcement controlling more than that.

Yes government does NOT control 970,000 bitcoins. Roll Eyes

TERA

hero member

Activity: 728

Merit: 500

I don't usually post here but there is so much FUD spread in this post I couldn't abstain myself from commenting

The suggestion that the governement is selling coins because somehow they found an exploit in the bitcoin protocol or any of the elements mentionned after is some of the most ridiculous stuff I've had the misfortune to read on this board. Anyone even entertaining these thoughts need to get checked cause something ain't right with their heads

I'm not suggesting that any of those things are true; I'm suggesting that those types of thoughts have affected the sentiment of buyers. The average investor is very irrational and emotional, and would think that type of thing. See my use of quotation marks in the post.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

I don't usually post here but there is so much FUD spread in this post I couldn't abstain myself from commenting

The suggestion that the governement is selling coins because somehow they found an exploit in the bitcoin protocol or any of the elements mentionned after is some of the most ridiculous stuff I've had the misfortune to read on this board. Anyone even entertaining these thoughts need to get checked cause something ain't right with their heads

hyphymikey

hero member

Activity: 784

Merit: 1000

Quote from: TERA on June 25, 2014, 06:05:37 PM

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

You are right, I should have used the words false information with a pinch of FUD, instead of bear.

I see you way too much on this forum for you to not know how many coins there are, and in whose possession. Perhaps you overlooking this will cause you to "get caught" in this bear trap?

EDIT: Also, don't confuse lack of buying pressure with waiting for the right time to buy. If I were the one who pushed the price from 420 to 680 earlier, why not fill in 420 to 680 with more bids and wait for people like you to sell into it, everyone screaming "There is no buy support sell sell sell". Then when I have the coins I need, I stop manipulating. Manipulation is so easy with a market this small, but yet people still use T/A, which only one trend line has yet to break. The only reason a few people here can profit on trading is because there are so many traders thinking the same thing. Physiological analysis might be the best way to trade this market.

You are technically right there is no buy support. But all the whales are waiting for this auction, and putting the buying on hold. Weak hands get scared and sell, so thats why we are slowly going down.

/rant.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Quote from: hyphymikey on June 25, 2014, 06:02:20 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

The coins seized from SR wallet are 30k, the ones belonging to Ross are 140,000ish.

There is absolutely no evidence about law enforcement controlling more than that.

TERA

hero member

Activity: 728

Merit: 500

Quote from: Dragonkiller on June 25, 2014, 06:00:17 PM

Quote from: TERA on June 25, 2014, 05:37:19 PM

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Quote from: Dragonkiller on June 25, 2014, 06:00:17 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

This is correct. TERA is just bear trolling like usual.

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

hyphymikey

hero member

Activity: 784

Merit: 1000

Quote from: TERA on June 25, 2014, 05:37:19 PM

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Quote from: Miz4r on June 25, 2014, 05:50:08 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

This is correct. TERA is just bear trolling like usual.

I think the auction is by far the most significant price mover at the moment. It's not because 30k coins is going to increase the supply of coins or the fear that they will be dumped afterwards, but it's more the fact that the interested parties want to lower the price on the exchanges to get a better price on the auction. And because people expect these parties to do this it will almost create a self-fulfilling prophecy already.

Also correct. TERA is just bear trolling like usual.

Dragonkiller

sr. member

Activity: 378

Merit: 250

Super Smash Bros. Ultimate Available Now!

Quote from: TERA on June 25, 2014, 05:37:19 PM

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht.

Miz4r

legendary

Activity: 1246

Merit: 1000

I think the auction is by far the most significant price mover at the moment. It's not because 30k coins is going to increase the supply of coins or the fear that they will be dumped afterwards, but it's more the fact that the interested parties want to lower the price on the exchanges to get a better price on the auction. And because people expect these parties to do this it will almost create a self-fulfilling prophecy already.

kireinaha

sr. member

Activity: 350

Merit: 253

Good points. For the first time, mining centralization is happening and raises very serious questions about bitcoin fundamentals. If we only hit the 51% red zone with Ghash once and dropped back down soon after, this may have not even become a serious concern. But the fact that it keeps happening every few weeks is huge... and nobody has any idea how to stop it from happening. I think we've crossed a line here, and people are only beginning to truly realize it. The auction is just a distraction.

windjc

legendary

Activity: 2156

Merit: 1070

Benjig

sr. member

Activity: 462

Merit: 250

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Quote from: jbrnt on June 25, 2014, 05:38:41 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

I knew that the 25-30k was the hot wallet and the 140 k was personal Ross wallet, where is the source of that claim about 500k coins, you are talking like if ross were satoshi himself Cheesy

TERA

hero member

Activity: 728

Merit: 500

Quote from: TERA on June 25, 2014, 05:32:07 PM

Nobody is participating in an international market manipulation conspiracy (which might not even be profitable) so that they can acquire 3,000*[1-9] bitcoins from the U.S. Marshall for their investment firm.

The selling pressure is really strong for the past 24 hours, Is it a coincidence?

Actually the selling pressure is not strong. There is a lack of buying pressure. Stamp and finex each have 10K volume and btce has 5K volume. These volume levels are very low. It is more of a reflection of a loss of faith by investors.

Benjig

sr. member

Activity: 462

Merit: 250

I dont think that the government will auction something before banning it, its like scamming, if they would want to ban bitcoin they had destroyed the coins, what an absurd bear theory.

Swordsoffreedom

legendary

Activity: 2884

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

The auction is just the easiest one to follow
Just hold for a few more days and the auction will be out of the news after the bids list is publicized.
But your right there are more factors and more volume a day than just from the SR auction.

jbrnt

hero member

Activity: 672

Merit: 500

Quote from: TERA on June 25, 2014, 05:32:07 PM

Nobody is participating in an international market manipulation conspiracy (which might not even be profitable) so that they can acquire 3,000*[1-9] bitcoins from the U.S. Marshall for their investment firm.

The selling pressure is really strong for the past 24 hours, Is it a coincidence?

TERA

hero member

Activity: 728

Merit: 500

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

st4nl3y

legendary

Activity: 1050

Merit: 1000

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM

Quote from: jbrnt on June 25, 2014, 05:27:32 PM

Where did they get the 500k coins?

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Source? I thought it was 140,000

140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently.

are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash?

TERA

hero member

Activity: 728

Merit: 500

10 batches of roughly 3,000btc each will be auctioned.

Potential bidders of those SR coins want to buy them as cheaply as possible. So they are dumping their coins-in-hand on the exchanges, lowering the maximum other bidders are willing to pay. After the last batch of coins is auctioned, bitcoin price will start to rise again.

Nobody is participating in an international market manipulation conspiracy (which might not even be profitable) so that they can acquire 3,000*[1-9] bitcoins from the U.S. Marshall for their investment firm.

TERA

hero member

Activity: 728

Merit: 500

Quote from: Dragonkiller on June 25, 2014, 05:25:21 PM