Author

Topic: The SEC digs into GLBSE, Pirate and Bitcoin, what does that mean pricewise? (Read 1956 times)

full member
Activity: 562
Merit: 100
I think it will inspire confidence, especially if the Bitcoin Foundation can get talking to journalists looking to report on the story.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses.  Remember those single digits I've been talking about?  They're coming.

I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin.  I know others who would too.  So bring on the single digits for what they're worth.
Don't worry about Proudhon he is dreaming and thinking no one else would realize that opportunity.
sr. member
Activity: 369
Merit: 250

Long-term, the value of BTC will rise, because criminals and the idiots they feed on will move on to the next opportunity, leaving nice rational people to enjoy the benefits of BTC.


Fixed that for you.
member
Activity: 113
Merit: 10
My hunch is, short-term, no effect, because people who are likely to be affected think they're protected by unicorns and fairies so as far as they're concerned they're invisible and bulletproof. So they're not going to do anything until their assets are frozen and their computers are seized, and then it'll be way too late.

Long-term, the value of BTC will rise, because criminals and the idiots they feed on will move on to the next opportunity, leaving nice rational people to enjoy the benefits of BTC.

hero member
Activity: 840
Merit: 1000
Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses.  Remember those single digits I've been talking about?  They're coming.

I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin.  I know others who would too.  So bring on the single digits for what they're worth.

I'd say you have a chance of seing single digits only untill around next january.
After that the price should not drop below $10.
member
Activity: 112
Merit: 10
Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses.  Remember those single digits I've been talking about?  They're coming.

I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin.  I know others who would too.  So bring on the single digits for what they're worth.

+1 to this!
vip
Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses.  Remember those single digits I've been talking about?  They're coming.

I am certain that if we saw single digits again, I'd be interested in buying a good chunk of coin.  I know others who would too.  So bring on the single digits for what they're worth.
member
Activity: 68
Merit: 10
Quote
So it's a down indicator until it's clear the SEC intends to behave in a sane and productive manner.

SELL! SELL! SELL!  Wink
legendary
Activity: 1036
Merit: 1002
US authorities may be able to annoy Gox and Intersango from afar. That would be very annoying, IMO for the authorities as well, but I'm not so certain they understand that.

If they only go against BS&T, it's neutral/no news, maybe a little positive for people from the USA. But the chance of them attacking random businesses is a negative indicator. Many here neither know nor care about the gazillion arbitrary regulations in that country. Usually, regulation has more cost than benefit, that's why many of us are here.

So it's a down indicator until it's clear the SEC intends to behave in a sane and productive manner.
legendary
Activity: 2198
Merit: 1311
Price goes down as people panic because of uncertainty and try to take what profit they can and/or mitigate further losses.  Remember those single digits I've been talking about?  They're coming.
legendary
Activity: 1022
Merit: 1000
The title covers it pretty much. What do you expect out of this investigation and how do you think it will influence the price?

Some animations:

- No effect: This investigation only concerns Pirate, no effect on price
- Price goes UP: Finally some justice in sight, this will prove bitcoinland is not Wild West anymore
- Price goes UP: This investigation could lead to an official recognition of Bitcoin as either currency or commodity
- Price goes UP: This will generate some publicity for Bitcoin, bad publicity is better then no publicity
- Price goes DOWN: This is bad news for bitcoin, people will loose trust
- Price goes DOWN: Any involvement of the state into the Bitcoin project will be met with delusion by its supporters
- Price goes DOWN: People will withdraw their funds from GLBSE as prices for stocks go down --> withdrawn BTC will be (at least partially) dumped into exchanges

P.S.: I know the US SEC has no direct control over the UK based enterprise of the GLBSE (yes! its T H E Global Bitcoin Stock Exchange), but there are certainly strong connections between the two anglo saxon regulatory bodies. A SEC investigation could easily lead to consequences for UK based businesses and vice versa.
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