Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18798. (Read 26711481 times)

DAO nutshell:  it's almost more of an idea than a new coin.  It is a concept of an semi-autonomous corporation that is powered by ETH.  People buying into DAO control policy through voting (votes=number of DAO you have).  It had a whopping 130 million US of funding and locked up a whopping 13% of all ETH.

DAO as it relates to trading:  they did a dumb thing imho with initial coin offering. The ICO period was 30 days. For the first two weeks, 1 ETH got you 100 DAO.  The next two weeks, it went up to 1.5ETH to a 100 DAO.  This caused the totally foreseeable situation  of all those people who bought in the first week dumping immediatly when it went on sale today to secure the 50% profit against the late comers. Also, as you can exchange DAO for ETH, the two prices are now locked, and should always be around the same 1:100 ration (1 DA0 is 1/100th price of 1 ETH). This is causing huge downwards pressure on ETH and ETH holders see this so are pushing money into BTC to protect their wealth. This is feeding upon itself as this Bitcoin price boom continues.

Figured this all out over an hour or two of research last night. But I figure its sound. BTC is looking VERY bullish right now with this move away from ETH and the halving next month really I don't think we'll drop below <500 until the halving now, much more likely we'll see 600 this [long] weekend.

It's even worse on BTC-E.  They're stuck below $510.
And bitstamp touched $528 just a while ago.

Combined market cap of all cryptos just surpassed $10 billoin for the first time in over two years.  

http://www.zerohedge.com/news/2016-05-28/bitcoin-soaring-unprecedented-burst-chinese-buying

where did u get that quote?

I believe you can burn your stake by proposing to fund with it an eth address that you own (although last I heard they wanted to put a moratorium on proposals due to security considerations). You can also obviously sell it at an exchange.

First they ignore you, then they laugh at you...

For Allah (God) sake, check the BOLD PART !!

so if you wana hire 1000 people to make t-shirts, who do you employ? the ones who demand high pay, or the ones you can employ to do the same thing for a fraction of the price. so if im in england, i want 1,000,000,000 t-shirts, im guna hire the chinese instead of the americans. so my money then flows into china instead of america. and then because the dollar is strong, and the cost of producing the same t-shirt in america is higher, people will buy the t-shirts from me and import them instead of buying from a local producer in america. so 1) the jobs to produce the t-shirts have shifted to china and 2) when people in america want to buy t-shirtsm they buy the cheaper chinese version causing capital outflow instead of inflow. its one country steeling growth from the other. that 450% means anyone who needs metal will buy in the US instead of china, pulling back the jobs to produce the metal and also keeping the money paid for the metal by consumers in the country. america takes back value from one industry, while china turns around and takes that same value back from a different place but still taking it back.

That 515 bitstamp price is fishy as hell. I won´t be storing coins of fiat there until things clear out.

Can anyone confirm withdrawals?

That said

CCMF

So this is what we are going to look forward to when we wake up in the morning?
I be having dreams of the bitcoin's surge that I bought last week.  

Trading is a zero-sum game (except when Willy is at work...  )

That's the exact opposite of what everybody else is DOING 
But if that is your strategy nice to see someone going against the grain on this one. 

  

    
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You'll be fine...

http://s33.postimg.org/4pdzvdsin/assbot.jpg

How does getting out of DAO work? I heard today was the first day people could get out, but is everyone free to get out at the same time, or do some have to wait longer than others before they can dump DAO?

More sense than wealth magically created by Chinese turning electricity into heat. Different strokes, I guess