I just realized there is this Bitcoin superbowl thing going on. No idea what it is but apparently it's quite big and a lot of eyes are lointing our way.
That makes that dump even more messed up. How much more obvious do you want it. These people are doing everything they can to scare away new people from Bitcoin. They won't stop till there's not a single buyer left.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23908. (Read 26711943 times)
December 27, 2014, 04:58:24 AM
December 27, 2014, 04:38:33 AM
Judging from the dysfunctional behavior I mentioned before
it´s very likely a scam of some sort. So, selling it short will
continue to be a 100% sure thing next year as it has been
this year.
Market sense; Sell any pop. Demand very high yield from
cloud mining contracts, definitely not less than 2% per day.
Same goes for purchase of mining equipment.
it´s very likely a scam of some sort. So, selling it short will
continue to be a 100% sure thing next year as it has been
this year.
Market sense; Sell any pop. Demand very high yield from
cloud mining contracts, definitely not less than 2% per day.
Same goes for purchase of mining equipment.
December 27, 2014, 04:38:09 AM
Down a few dollars. Back up by this afternoon? 
About 900.
December 27, 2014, 04:36:39 AM
wha happund?
What's the problem?
Why is there no party? Cheap coins for everyone!
I don't get it.
December 27, 2014, 04:31:43 AM
fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same.
Not if the few ones left keep buying more hash generator things. If this happens, we will see mining concentrated in the hands of few and will be harder and harder for newcomer have profits(any similarities with current situation is just coincidence)
See above ... if that smaller group then buy more rigs in the same proportions, the number of minted coins they receive will not change at all (with the exception of what I wrote in my previous post) so I don't really get your point.
As for newcomers they have the advantage of being able to buy the newest, fastest rigs on the market, so as long as they have done their maths right and can run a business, there is still no barrier to entry. In fact they may be more competitive than the incumbents if they ONLY have the newest and fastest gear and a good set up. The landscape can change quite dramatically. Though, I agree, it is and will likely remain open to those with deep pockets.
It is those with obsolete equipment that are the losers, as it always has been in any industry. Nothing else really changes.
December 27, 2014, 04:30:25 AM
It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump.
Just Bitpay and other sellers dumping, I guess.
No need of theories about nutz guys selling stuff just for the sake of no reason
The kind that sees the writing on the wall??
Just another revenue stream for them. From a business pov
sell 100$ of goods, receive 100$ in BTC, Sell BTC and get 100$ in the bank = balanced books and happy shareholders
sell 100$ of goods, receive 100$ in BTC, Hold; now its worth (10<800)* the amount of coins= wth is going on in these books ?
Unless there is a strong business case to the contrary
December 27, 2014, 04:19:14 AM
Down a few dollars. Back up by this afternoon?
December 27, 2014, 04:05:47 AM
Good.
Fewer miners means fewer coins on the market which means higher prices.
Fewer miners means fewer coins on the market which means higher prices.
No. Learn some fucking crap about Bitcoin before commenting pleasethankyouverymuch
fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same.
Not quite ... block reward remains constant (til the halving), but blocks will be found quicker when hash rate increases in between difficulty adjustments, and slower when it decreases, so emission rate does vary. Difficulty then adjusts according to the new hash rate and the cycle begins again.
This is only a significant effect when hash rate is trending very quickly between adjustments (as it was until it stalled this year). Otherwise its just noise. But I believe the cumulative effect has been to bring forward the expected halving date by several months due to the exponential rise in hash rate due to ASICs.
Speed of the network (read 'confirmation times') will also we affected by this.
Do I get a cookie Richy_T ?
December 27, 2014, 04:00:25 AM
December 27, 2014, 03:56:43 AM
Good.
Fewer miners means fewer coins on the market which means higher prices.
Fewer miners means fewer coins on the market which means higher prices.
No. Learn some fucking crap about Bitcoin before commenting pleasethankyouverymuch
fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same.
Not if the few ones left keep buying more hash generator things. If this happens, we will see mining concentrated in the hands of few and will be harder and harder for newcomer have profits(any similarities with current situation is just coincidence)
December 27, 2014, 03:56:02 AM
It is so funny that when BTC has a good PR day thanks to BitcoinBowl - the price takes a huge dump.
Classic Bitcoin move. Good news = price dump.
It's simple economics: larger adoption means many new people getting the BTC by some form of distribution (tips from BitcoinBowl) and immediately spending them through BitPay to try the functionality, which mostly converts it to fiat right away. We've seen it dozens of times. I doubt they'll buy more BTC then they spend, even if it turns out to be the case it takes some time to push the fresh fiat into the system. Next time you see something like BitcoinBowl open your shorts right away.
December 27, 2014, 03:35:32 AM
The highlights of 2014.
There has been a very reliable inverse correlation between increase
in mining equipment and capacity and the price of produce (BTC).
As a result, borrowing produce to dump and cover later at lower price
has been pretty much a 100% sure thing.
The question now is how long will this last ?
There has been a very reliable inverse correlation between increase
in mining equipment and capacity and the price of produce (BTC).
As a result, borrowing produce to dump and cover later at lower price
has been pretty much a 100% sure thing.
The question now is how long will this last ?
December 27, 2014, 03:21:21 AM
Good.
Fewer miners means fewer coins on the market which means higher prices.
Fewer miners means fewer coins on the market which means higher prices.
No. Learn some fucking crap about Bitcoin before commenting pleasethankyouverymuch
fewer miner means that those fewer miner get more coin... because total no. of minted coin stay the same.
December 27, 2014, 03:00:23 AM
December 27, 2014, 02:32:06 AM
December 27, 2014, 02:00:28 AM
December 27, 2014, 01:49:46 AM
Relax good news will not lead to ta or ew traders to.break from there style.
Perhaps last years rise was just an influx of adoption perhaps it was a pump.
Just the fact there is good news means we should be patient enough for new joiners to figure out what's what.
Perhaps last years rise was just an influx of adoption perhaps it was a pump.
Just the fact there is good news means we should be patient enough for new joiners to figure out what's what.
December 27, 2014, 01:49:01 AM
Price "Stability" is so boring.
December 27, 2014, 01:47:51 AM
I was wondering which exchanges people around here focus on when watching BTC charts. The Chinese exchanges seem to have the most volume (OK Coin, Huobi).
for some reason people, including the chart buddy, looks for the bitcoinwisdom price.
U know, chinese exchanges don't have dollar prices
Chartbuddy gets his data directly from Bitstamp (though it seems to be screwed up a good percentage of the time these days)
December 27, 2014, 01:40:58 AM
You don´t get the point.
They anticipated $1000 by now.
This led to extreme over-investment in mining equipment.
Major bankruptcies are most likely imminent.
Interesting point, yes.
Expected price rise leads to mining bubble, taking funds from BTC investment, stalling actual price rise.
Agrees with what I've said previously about expected BTC bubble being diverted to mining bubble. Therefore, must be true
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