Whatever is happening we seem to be having volume.
We're not going to die from boredom after all. Yay!
Checklist for take-off:
Testing reverse thrusters .... Check
lol!
next up: get rid of excess weight.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26399. (Read 26630591 times)
August 13, 2014, 03:07:33 PM
We're not going to die from boredom after all. Yay!
Checklist for take-off:
Testing reverse thrusters .... Check
lol!
next up: get rid of excess weight.
August 13, 2014, 03:06:48 PM
... but mostly because if he had paid at or above market he would probably have said so, to support the price. Said another way, one possible explanation for why he and Siebert refused to reveal their bids is that the price they offered would have been "bad news" for the market.
...
...
Do you understand the concept of lying?
Not sure how lying factors into this. Explain?
You say he didn't pay above market because if he did he would say so to push up the price. And I'm saying even if he paid less he could just claim he overpaid to achieve the same thing.
Most people prefer not to lie unless they have to. The downside of being caught in a lie simply outweigh the potential gains. And, of course, there are a few creeps who don't lie because they feel it's immoral.
Well, depending on whether the feds need to release this info at some point (he should know for sure) it can be a very easy lie opportunity if what you say is correct. I'm not so sure price would have gone up if he announced overbidding. The market seems very disconnected from fundamentals or any sort of related news.
August 13, 2014, 03:06:23 PM
August 13, 2014, 03:05:35 PM
Shroomy, Fallllllling, could one of you keep an eye on things while I step away from troll duty temporarily for lunch? Thanks.
August 13, 2014, 03:04:03 PM
... but mostly because if he had paid at or above market he would probably have said so, to support the price. Said another way, one possible explanation for why he and Siebert refused to reveal their bids is that the price they offered would have been "bad news" for the market.
...
...
Do you understand the concept of lying?
Not sure how lying factors into this. Explain?
You say he didn't pay above market because if he did he would say so to push up the price. And I'm saying even if he paid less he could just claim he overpaid to achieve the same thing.
Most people prefer not to lie unless they have to. The downside of being caught in a lie simply outweigh the potential gains. And, of course, there are a few creeps who don't lie because they feel it's immoral.
August 13, 2014, 03:03:25 PM
Whatever is happening we seem to be having volume.
We're not going to die from boredom after all. Yay!
Checklist for take-off:
Testing reverse thrusters .... Check
August 13, 2014, 03:02:20 PM
Whatever is happening we seem to be having volume.
We're not going to die from boredom after all. Yay!
August 13, 2014, 03:01:42 PM
400 new shorts just opened on Bitfinex...and BITSTAMP fell $5. Bfx is only down $1.50. Weird.
Edit:even weirder, there were more LTC swaps opened in the last hour than USD or BTC. Glitch.
Edit:
August 13, 2014, 03:01:04 PM
lol:
August 13, 2014, 02:59:43 PM
August 13, 2014, 02:59:40 PM
It seems likely that the price Draper paid was somewhat below market (574--590$ on Bitstamp, Jun/27, 06:00--18:00), partly because it would be a rational bid, but mostly because if he had paid at or above market he would probably have said so, to support the price. Said another way, one possible explanation for why he and Siebert refused to reveal their bids is that the price they offered would have been "bad news" for the market.
Do you understand the concept of lying?I have seen it demonstrated, yes.
(I have been following threads on two famous mining rig manufacturers who do it in an industrial scale. Oh boy.) But some businessmen still care about their reputation. Tim Draper's bid *may* be leaked one day, e.g. through a FOIA request or by anyone who saw his bid; if he had lied about it then, he would risk being marked as a liar.
When I find that someone told me a flat-out lie, I will stop believing anything that says, and I would not do business with him if I can avoid it at all. I believe there are still many people who react this way to lies.
In fact, the thing I find most amazing in those threads is that clients of those companies still pay attention to what the CEOs write -- clients who prepaid 6000$ or more for a miner and have been told "it will be there next week" for the last 9 months.
August 13, 2014, 02:53:34 PM
Shroomy, Fallllllling, could one of you keep an eye on things while I step away from troll duty temporarily for lunch? Thanks.
August 13, 2014, 02:50:45 PM
Of course we have volume now compared to the last few weeks; everyone is running for the exits! I don't think that's the type of volume most people here have been waiting for, no matter how the bulls try to twist it...
Just shaking out the weak hands (That one is dedicated to Gloomskit).
We've been doing that for quite a while. In a bit we'll be picking up weak hands once more and repeat the cycle.
August 13, 2014, 02:49:06 PM
So how do you think this $1.6M purchase in Bitcoins with Bitpay influenced the market? www.siliconbeat.com/2014/08/12/tech-entrepreneur-pays-1-6-million-in-bitcoins-for-tahoe-parcel/
it really all depend on how Bitpay process these transaction and on how you set your Bitpay account, usually most merchants needs cash in order to operate normally so they converts 100% of the transaction to fiat, but there is who set their accounts to keep a percentage of any transaction in Bitcoin, so the owner of this estate could cash a small percent and held the rest in Bitcoin ?
I really don't know how Bitpay/coinbase process their transactions, it would be interesting to know about that.
I have a bitpay account, and yes you can set the % of what you want to keep in BTC and the rest is converted to fiat. The percent you keep in BTC gets sent to an address you specify, you cannot sell them later through bitpay though. I am not sure if Coinbase is the same but I'm not sure why they wouldn't have this feature.
Coinbase only let you buy and sell at market price (the highest when buying and the lowest when selling), and they charge 1% each way.
August 13, 2014, 02:48:09 PM
Of course we have volume now compared to the last few weeks; everyone is running for the exits! I don't think that's the type of volume most people here have been waiting for, no matter how the bulls try to twist it...
Just shaking out the weak hands (That one is dedicated to Gloomskit).
August 13, 2014, 02:46:44 PM
Sorry man, I went to bed shortly after this post. but... Take a look at the mining pool chart, all big miners are pools, that pay out individuals, so they would not be able to buy those coins. The biggest private pool mines less the 20% of the coins. That is the biggest chunk
OTC trades for large amounts of clean/virgin coins would be at an hefty premium I guess. Enough for pool owners to trade their virgin coins for cheaper used coins on an exchange. But it was just a guess.
Any other idea on who and why is dumping is welcome.
Besides the sellers themselves I doubt anyone around here knows exactly why they do it.
Get cheaper coins through panic
Coin mixing through exchanges
Altcoin preminers taking profit
Stolen coins constantly being sold
GABI trying to achieve a low base
T/A whales trying to paint capitulation to start a new bubble
Exchanges selling fees and buying some back cheaper
Attempt at a long squeeze
Whales giving up and taking profits
Wall street trying to fuck over traders
Dump once a month to buy OTC cheaper
Unless you are the dumper, or the exchange operator and can see who is doing what, we will likely never know. The fundamentals haven't changed, so the only thing I know with a strong chance of being true is that they are doing it to profit, not because "bitcoin is dead"
Bitcoin is only worth what someone is willing to pay for it. bottom line
Maybe someday in the future it is worth 10000 usd, maybe 10.
It wasn't so long ago someone used 10000 btc for 2 large Papa Johns pizzas
August 13, 2014, 02:46:02 PM
... but mostly because if he had paid at or above market he would probably have said so, to support the price. Said another way, one possible explanation for why he and Siebert refused to reveal their bids is that the price they offered would have been "bad news" for the market.
...
...
Do you understand the concept of lying?
Not sure how lying factors into this. Explain?
You say he didn't pay above market because if he did he would say so to push up the price. And I'm saying even if he paid less he could just claim he overpaid to achieve the same thing.
August 13, 2014, 02:45:48 PM
panic sell and rebuy did cost me 5€ today...
now i'll just hodl and enjoy the ride...
now i'll just hodl and enjoy the ride...
August 13, 2014, 02:43:44 PM
So how do you think this $1.6M purchase in Bitcoins with Bitpay influenced the market? www.siliconbeat.com/2014/08/12/tech-entrepreneur-pays-1-6-million-in-bitcoins-for-tahoe-parcel/
it really all depend on how Bitpay process these transaction and on how you set your Bitpay account, usually most merchants needs cash in order to operate normally so they converts 100% of the transaction to fiat, but there is who set their accounts to keep a percentage of any transaction in Bitcoin, so the owner of this estate could cash a small percent and held the rest in Bitcoin ?
I really don't know how Bitpay/coinbase process their transactions, it would be interesting to know about that.
I have a bitpay account, and yes you can set the % of what you want to keep in BTC and the rest is converted to fiat. The percent you keep in BTC gets sent to an address you specify, you cannot sell them later through bitpay though. I am not sure if Coinbase is the same but I'm not sure why they wouldn't have this feature.
August 13, 2014, 02:40:21 PM
So how do you think this $1.6M purchase in Bitcoins with Bitpay influenced the market? www.siliconbeat.com/2014/08/12/tech-entrepreneur-pays-1-6-million-in-bitcoins-for-tahoe-parcel/
it really all depend on how Bitpay process these transaction and on how you set your Bitpay account, usually most merchants needs cash in order to operate normally so they converts 100% of the transaction to fiat, but there is who set their accounts to keep a percentage of any transaction in Bitcoin, so the owner of this estate could cash a small percent and held the rest in Bitcoin ?
I really don't know how Bitpay/coinbase process their transactions, it would be interesting to know about that.
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