the price is falling, the price is falling!!!

SOSLOVE868

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Quote from: BitChick on July 01, 2013, 10:50:34 PM

The length of time for transaction confirmation is already an issue I would think. But I think it is a problem that could eventually be solved with more services. Perhaps by having an escrow service, or third party location, where people can store their BTC and have the coin already confirmed and ready to use so there is no down time? Of course the biggest issue will be security for the company that is holding those coins. For those people with much coin they would not want to leave it there long. Perhaps only put the btc in when you know you are going to spend them. That sort of thing. I am sure this has been discussed somewhere on the board though. These are just my thoughts on this.

Be patient, that sold today would be high chance that can buying back cheaply, based on several mathematics assumptions.... Grin

MT.Gox said it will suspend the USD withdraw for two weeks, we are approaching that date...MT.Gox considering as a Price index so far, if they can't back to normal, another panic selling is just ahead....I guess bitstamp will be a victim of MT.Gox , we can get very cheap coins in there by that time..

BitChick

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Quote from: SOSLOVE868 on July 01, 2013, 10:41:30 PM

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

Well I think it has everything to do with us and Mt. Gox because as I understand it the trust will buy more coins?

At the end of the day those coins have to come from somewhere, and until something better comes along Gox no doubt will be one of its sources.

At this moment I would only say to you wait and see...

in addition, I am monitoring to the Global noods of QT clients everyday, it is only around 930 nodes connected to the blockchain everyday...I am worry that once a day the long time need to do a transaction confirmation will also be a hidden risk of BTC and its ability to as a currency...

The length of time for transaction confirmation is already an issue I would think. But I think it is a problem that could eventually be solved with more services. Perhaps by having an escrow service, or third party location, where people can store their BTC and have the coin already confirmed and ready to use so there is no down time? Of course the biggest issue will be security for the company that is holding those coins. For those people with much coin they would not want to leave it there long. Perhaps only put the btc in when you know you are going to spend them. That sort of thing. I am sure this has been discussed somewhere on the board though. These are just my thoughts on this.

SOSLOVE868

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Activity: 378

Merit: 250

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

Well I think it has everything to do with us and Mt. Gox because as I understand it the trust will buy more coins?

At the end of the day those coins have to come from somewhere, and until something better comes along Gox no doubt will be one of its sources.

At this moment I would only say to you wait and see...

in addition, I am monitoring to the Global noods of QT clients everyday, it is only around 930 nodes connected to the blockchain everyday...I am worry that once a day the long time need to do a transaction confirmation will also be a hidden risk of BTC and its ability to as a currency...

hl5460

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news.8btc.com

I actually checked the wallet of AVALON chips. Total number unchanged at about 77,000 BTC. I guess the high demand in the past two month (when avalon open for order) is somehow related to the sales of avalon chips. Now that avalon order is closed. There will be few demands.

massivebitman

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Quote from: SOSLOVE868 on July 01, 2013, 10:11:57 PM

Quote from: massivebitman on July 01, 2013, 10:05:15 PM

Quote from: SOSLOVE868 on July 01, 2013, 09:54:42 PM

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

In regard to the 100Million not being a big number point I made, have a look at this video, it kind of puts things in perspective.

http://www.youtube.com/watch?v=K7LQu-eIOO0

It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw.

Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich.

They sell their BTC as a trust fund, and that looks like nothing to do with our coins...if they got approve,then it is mean people who buying their coins can instantly cash in or out...but it will be a good mile stone for sure, because it may replace MT.GOX as a new price index....

I will be more than happy , I hate people in MT.GOX, especially those speculators, they look like playing a game like who get sold first and who buy back at lowest, again and again ,those guys creating volatility and destroying the faith of long term investors, and scary potential investors.

Well I think it has everything to do with us and Mt. Gox because as I understand it the trust will buy more coins?

At the end of the day those coins have to come from somewhere, and until something better comes along Gox no doubt will be one of its sources.

SOSLOVE868

sr. member

Activity: 378

Merit: 250

Quote from: massivebitman on July 01, 2013, 10:05:15 PM

Quote from: SOSLOVE868 on July 01, 2013, 09:54:42 PM

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

In regard to the 100Million not being a big number point I made, have a look at this video, it kind of puts things in perspective.

http://www.youtube.com/watch?v=K7LQu-eIOO0

It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw.

Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich.

They sell their BTC as a trust fund, and that looks like nothing to do with our coins...if they got approve,then it is mean people who buying their coins can instantly cash in or out...but it will be a good mile stone for sure, because it may replace MT.GOX as a new price index....

I will be more than happy , I hate people in MT.GOX, especially those speculators, they look like playing a game like who get sold first and who buy back at lowest, again and again ,those guys creating volatility and destroying the faith of long term investors, and scary potential investors.

massivebitman

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Quote from: massivebitman on July 01, 2013, 10:05:15 PM

Quote from: SOSLOVE868 on July 01, 2013, 09:54:42 PM

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

In regard to the 100Million not being a big number point I made, have a look at this video, it kind of puts things in perspective.

http://www.youtube.com/watch?v=K7LQu-eIOO0

It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw.

Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich.

Seriously, if I ran a retirement fund. I'd be crazy to not put at least some BTC in the basket (at least for the high risk options). The potential longterm potential upside is huge, and it's only the long term that you care about when you're retiring right?
BTC certainly is part of my retirement strategy... Shit no doubt some people have already retired off it.

massivebitman

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Quote from: SOSLOVE868 on July 01, 2013, 09:54:42 PM

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

In regard to the 100Million not being a big number point I made, have a look at this video, it kind of puts things in perspective.

http://www.youtube.com/watch?v=K7LQu-eIOO0

It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw.

Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich.

vokain

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Quote from: Inedible on July 01, 2013, 09:02:14 PM

I suspect prices are going to go back up tomorrow morning when the Winklevii news gets out.

Me too, it'll probably accelerate as people deposit more fiat in to speculate off this

SOSLOVE868

sr. member

Activity: 378

Merit: 250

Quote from: massivebitman on July 01, 2013, 09:47:27 PM

In regard to the 100Million not being a big number point I made, have a look at this video, it kind of puts things in perspective.

http://www.youtube.com/watch?v=K7LQu-eIOO0

It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw.

massivebitman

full member

Activity: 224

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In regard to the 100Million not being a big number point I made, have a look at this video, it kind of puts things in perspective.

http://www.youtube.com/watch?v=K7LQu-eIOO0

humanitee

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Activity: 1302

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Quote from: massivebitman on July 01, 2013, 09:38:51 PM

Hahaha... I don't think this alleviates anything... What it could do however is massively increase demand, and correspondingly further reduce the limited supply. Hence the price probably will go up at least a little bit if it initially.

All these things and the corresponding press no doubt will push the $/BTC price go up, but does nothing for the actual usefulness of BTC.

It's just crazy. Still I don't mind paying micro BTC if it makes us early adopters rich!!!

I think it alleviates it. Not only that, it takes the security risk away from the technology impaired. Now I can just hold paper and get in and out of Bitcoin on a whim. Now my stepfather can finally get into Bitcoin without shooting himself directly in the foot.

Quote from: SOSLOVE868 on July 01, 2013, 09:34:05 PM

I feel you guys are delusional about the twins plan......They are selling their coins to public to ensure their wealth will not be eaten by the volatility of BTC/USD.

BTC is not a deflation currency, it is inflation currency indeed.
To maintaining current price level , BTC worlds need attracting net in cash flow 3600*365/11347625=11.58% of its market cap. which is above 100 millions USD per year.

Regard to the possibility of government intervention in the future, and cash out executed by those BTC pioneers and the constrains of USD withdraw...

Think again ,price could be maintaining or decreasing...

This could be true, but IMO they are holding additional Bitcoin and are using this as a way to increase their value, not to merely maintain it. Either way, it's a win for them, that's for sure (should it pass).

massivebitman

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Quote from: SOSLOVE868 on July 01, 2013, 09:34:05 PM

I feel you guys are delusional about the twins plan......They are selling their coins to public to ensure their wealth will not be eaten by the volatility of BTC/USD.

BTC is not a deflation currency, it is inflation currency indeed.
To maintaining current price level , BTC worlds need attracting net in cash flow 3600*365/11347625=11.58% of its market cap. which is above 100 millions USD per year.

Regard to the possibility of government intervention in the future, and cash out executed by those BTC pioneers and the constrains of USD withdraw...

Think again ,price could be maintaining or decreasing...

Well for one thing you're assuming everyone who mines is selling... Simply not true

For another thing 100 million USD while it seems a large amount, in a global market where BTC is now in all the major press it's really not that big

BitChick

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Quote from: SOSLOVE868 on July 01, 2013, 09:34:05 PM

I feel you guys are delusional about the twins plan......They are selling their coins to public to ensure their wealth will not be eaten by the volatility of BTC/USD.

BTC is not a deflation currency, it is inflation currency indeed.
To maintaining current price level , BTC worlds need attracting net in cash flow 3600*365/11347625=11.58% of its market cap. which is above 100 millions USD per year.

Regard to the possibility of government intervention in the future, and cash out executed by those BTC pioneers and the constrains of USD withdraw...

Think again ,price could be maintaining or decreasing...

This is most likely true. I am sure the Winklevii want to keep their wealth secure as much as possible and are probably selling for that purpose. But I appreciate all the press they keep bringing our way. It could just cause more people to look into it and jump in. Also, it is better if they spread some of the BTC around. It is never good to have one entity holding onto so much coin.

massivebitman

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Quote from: humanitee on July 01, 2013, 09:24:01 PM

Quote from: Wagner2014 on July 01, 2013, 09:21:29 PM

So they aren't selling any of their coins?

If you can't see the light at the end of the tunnel I'll just leave you in the cave. Bitcoin has a real problem with fiat, this alleviates that.

Don't worry, I'll throw you steaks occasionally, just clean up after yourself.

Hahaha... I don't think this alleviates anything... What it could do however is massively increase demand, and correspondingly further reduce the limited supply. Hence the price probably will go up at least a little bit if it initially.

All these things and the corresponding press no doubt will push the $/BTC price go up, but does nothing for the actual usefulness of BTC.

It's just crazy. Still I don't mind paying micro BTC if it makes us early adopters rich!!!

SOSLOVE868

sr. member

Activity: 378

Merit: 250

I feel you guys are delusional about the twins plan......They are selling their coins to public to ensure their wealth will not be eaten by the volatility of BTC/USD.

BTC is not a deflation currency, it is inflation currency indeed.
To maintaining current price level , BTC worlds need attracting net in cash flow 3600*365/11347625=11.58% of its market cap. which is above 100 millions USD per year.

Regard to the possibility of government intervention in the future, and cash out executed by those BTC pioneers and the constrains of USD withdraw...

Think again ,price could be maintaining or decreasing...

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: Wagner2014 on July 01, 2013, 09:29:33 PM

Quote from: humanitee on July 01, 2013, 09:24:01 PM

Quote from: Wagner2014 on July 01, 2013, 09:21:29 PM

So they aren't selling any of their coins?

If you can't see the light at the end of the tunnel I'll just leave you in the cave. Bitcoin has a real problem with fiat, this alleviates that.

Don't worry, I'll throw you steaks occasionally, just clean up after yourself.

I think you misunderstood my question or don't know or like the answer.

Nobody knows is the answer to your question. We have no way of knowing how many coins they are holding, beyond what they choose to tell us.

Timzim103

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Quote from: keelba on July 01, 2013, 01:33:19 PM

Quote from: ChrisJ on July 01, 2013, 11:30:23 AM

Put the Bitcoin.org logo and site on your dollar bills to help spread the word.

I think that's a good idea. I need a stamp. Anyone got one or know who can create one?

http://www.rubberstamps.net/custom_rubber_stamps.aspx

Wagner2014

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Quote from: humanitee on July 01, 2013, 09:24:01 PM

Quote from: Wagner2014 on July 01, 2013, 09:21:29 PM

So they aren't selling any of their coins?

If you can't see the light at the end of the tunnel I'll just leave you in the cave. Bitcoin has a real problem with fiat, this alleviates that.

Don't worry, I'll throw you steaks occasionally, just clean up after yourself.

I think you misunderstood my question or don't know or like the answer.

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: Wagner2014 on July 01, 2013, 09:21:29 PM

So they aren't selling any of their coins?

If you can't see the light at the end of the tunnel I'll just leave you in the cave. Bitcoin has a real problem with fiat, this alleviates that.

Don't worry, I'll throw you steaks occasionally, just clean up after yourself.

Topic: the price is falling, the price is falling!!! (Read 3517 times)