People seem to have forgotten how badly bitcoin tanked last time there was an auction. It was only shortly after the auction completed that the bitcoin price went up a bit.
Yet, this time the price did not decrease because of the news of an auction. A sell order like this should move down the market, but it hasn't really so far, which means we may be having a little bit of a correction here. I do not expect much positive movement between now and when the auction is over, as positive movement as a direct result of a sell order is a complete nonsequitur. I also don't expect much positive movement right after the auction, as there is no ground to make up - bitcoiners are treating this auction like some big investor will just buy them all up like last time, so a good result is already priced in right now.
It's a bad week to be long, with one exception: if you think the price is being artificially deflated so that someone can buy the coins at auction for a lower price.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24164. (Read 26607966 times)
December 03, 2014, 04:04:53 AM
December 03, 2014, 04:00:56 AM
December 03, 2014, 03:49:29 AM
Wtf is going on with These dumps?
pre auction dumps??
Looks like china cashing out.pre auction dumps??
too bad i havent sold yet... back to 375
December 03, 2014, 03:45:47 AM
Wtf is going on with These dumps?
pre auction dumps??
Looks like china cashing out.pre auction dumps??
Lol joke?
December 03, 2014, 03:39:44 AM
Wtf is going on with These dumps?
pre auction dumps??
Looks like china cashing out. pre auction dumps??
December 03, 2014, 03:04:00 AM
Careful with the christmas presents, ladies and gentlemen. Hold on to your wallets! Remember Dickens's uncle Scrooge. An if you plan to soften up: unlike Scrooge, you must wait until BTCUSD is 1000!
Dicken's uncle scrooge?
Damn, I only know this one.
That one has so many stories, don't know if there is one where he actually spends his money.
He does make investments when he sees opportunity.
December 03, 2014, 03:03:52 AM
regular portfolio: http://www.businessinsider.com/most-valuable-substances-by-weight-2014-9?op=1
(+ bitcoin of course)
(+ bitcoin of course)
December 03, 2014, 03:01:22 AM
At last... some volume!
December 03, 2014, 03:00:54 AM
December 03, 2014, 02:59:57 AM
Wtf is going on with These dumps?
pre auction dumps??
pre auction dumps??
December 03, 2014, 02:47:28 AM
You think there will be a dip today because of the auction?
If so, how deep?
If so, how deep?
Guess, just for guessing:
To have a positive effect, this auction would have to repeat the outcome of the previous one: a single winner, who can convince the market that he bought for a "good price" and does not intend to dump the coins.
However, that seems a bit unlikely, because:
* There are almost twice as many coins being auctioned this time, and twice as many coming in a few months.
* There seems to be much less excitement this time about those coins. (Last time, some even argued that those coins would have extra value as collectibles -- "the" coins from "the" Silk Road -- and/or for having been blessed by the US government. I have seen no such claims this time.)
* Therefore, it is more likely that, this time, there will be several winners.
* There is even a small chance that some lots will be unsold. (AFAIK, the USMS can ignore bids for any reason, including them being too low.)
* If there are several winners, some of them may remain unknown.
* If there are several winners, or unknown winners, or unsold lots, the market will probably assume that the coins were bought below market -- suggesting that the big players are bearish;
* If the market thinks that some of the coins were bought below market, it will fear that they be dumped for profit.
Moreover, the price increase after the previous outcome was announced only reversed the drop that occurred when the auction was announced. There was no such drop this time, so why should there be a recovery?
Thus, if I had to guess, I would guess "no effect, or a drop".
How much of VC's $ was injected in BTC related companies at a time of the first auction and how much is there now
December 03, 2014, 02:28:06 AM
I drew some pretty lines today.....lets keep tomorrows price at an average of $385 or greater.
https://i.imgur.com/eliW0ms.png
https://i.imgur.com/eliW0ms.png
I asked for $385 yesterday and I was about 12 cents off. Good job everyone
I drew some more pretty lines today. I expect to see $385.65 tomorrow and a slow steady gain until we reach an upward break out by December 15th as long as the auction doesn't dump on us....
Also for the long term traders like myself, the December 2nd 3D MACD is green and UP
https://i.imgur.com/uDImBDT.png
December 03, 2014, 02:00:57 AM
December 03, 2014, 01:49:27 AM
PS, about the distribution of MtGOX spoils:
There is no queue, except that defaulted employee salaries are to be paid first, then suppliers etc., then the clients, and the managers last. The first two have been paid already, and there will be nothing left for the managers anyway.
Among the clients, Kobayashi will first gather and validate all the claims, then he will divide the remaining assets proportional to the claims. So everybody should receive around 20% of their claims. However, it is not clear yet how the claims will be defined.
Okay, sounds good.They supposedly recovered 200 000 coins, 650 000 coins are missing. So unless you for some reason are very high up on the list of creditors, them coins are gone. Kraken is not going to empty their stash for Gox customers.
There is no queue, except that defaulted employee salaries are to be paid first, then suppliers etc., then the clients, and the managers last. The first two have been paid already, and there will be nothing left for the managers anyway.
Among the clients, Kobayashi will first gather and validate all the claims, then he will divide the remaining assets proportional to the claims. So everybody should receive around 20% of their claims. However, it is not clear yet how the claims will be defined.
I've got a little under 20 goxbtc, where can I file a claim?
Sorry to be degenerate but the mtgox site with all it's legal lingo is confusing as fuck, and I've found nowhere that explains it easily.
December 03, 2014, 01:01:42 AM
PS, about the distribution of MtGOX spoils:
There is no queue, except that defaulted employee salaries are to be paid first, then suppliers etc., then the clients, and the managers last. The first two have been paid already, and there will be nothing left for the managers anyway.
Among the clients, Kobayashi will first gather and validate all the claims, then he will divide the remaining assets proportional to the claims. So everybody should receive around 20% of their claims. However, it is not clear yet how the claims will be defined.
They supposedly recovered 200 000 coins, 650 000 coins are missing. So unless you for some reason are very high up on the list of creditors, them coins are gone. Kraken is not going to empty their stash for Gox customers.
There is no queue, except that defaulted employee salaries are to be paid first, then suppliers etc., then the clients, and the managers last. The first two have been paid already, and there will be nothing left for the managers anyway.
Among the clients, Kobayashi will first gather and validate all the claims, then he will divide the remaining assets proportional to the claims. So everybody should receive around 20% of their claims. However, it is not clear yet how the claims will be defined.
December 03, 2014, 01:00:57 AM
December 03, 2014, 12:52:42 AM
You think there will be a dip today because of the auction?
If so, how deep?
If so, how deep?
Guess, just for guessing:
To have a positive effect, this auction would have to repeat the outcome of the previous one: a single winner, who can convince the market that he bought for a "good price" and does not intend to dump the coins.
However, that seems a bit unlikely, because:
* There are almost twice as many coins being auctioned this time, and twice as many coming in a few months.
* There seems to be much less excitement this time about those coins. (Last time, some even argued that those coins would have extra value as collectibles -- "the" coins from "the" Silk Road -- and/or for having been blessed by the US government. I have seen no such claims this time.)
* Therefore, it is more likely that, this time, there will be several winners.
* There is even a small chance that some lots will be unsold. (AFAIK, the USMS can ignore bids for any reason, including them being too low.)
* If there are several winners, some of them may remain unknown.
* If there are several winners, or unknown winners, or unsold lots, the market will probably assume that the coins were bought below market -- suggesting that the big players are bearish;
* If the market thinks that some of the coins were bought below market, it will fear that they be dumped for profit.
Moreover, the price increase after the previous outcome was announced only reversed the drop that occurred when the auction was announced. There was no such drop this time, so why should there be a recovery?
Thus, if I had to guess, I would guess "no effect, or a drop".
December 03, 2014, 12:17:17 AM
You think there will be a dip today because of the auction?
If so, how deep?
If so, how deep?
how deep is your love
December 03, 2014, 12:00:56 AM
December 02, 2014, 11:56:18 PM
You think there will be a dip today because of the auction?
If so, how deep?
If so, how deep?
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