Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet.
hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct!
do you have the means to check this? If so I would like to kindly ask you to do so.
Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds.
A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up.
If this is true then the next bubble will be incredible.
It is likely true. Who do you think bitfury or KNC deals with? the public price on exchanges are just so easy to manipulate just with 1/100 of what they mine daily. a little "networking" and you are the king of the public price. We are just hopeless sheeps and this is why the mining industry is the #1 bitcoin industry, surclassing finance etc..
The good part is that it is set to succeed, just squeezing each tear of profit before lightning up the next canddle
edit: cant wait for
Intel to put their hands on bitcoin.. ^^
However, don't we really want to do something about this problem....
No we dont, since it is meant to succeed. And we are still pioneer.
I mean sooner or later, some people should be getting mad about this downward price manipulation b/c there exists so much behind the scene's trading that is NOT reflecting the true price and/or value of BTC...
Yes because they dont get the big picture: it is meant to succeed. But people that can control, will always control. it's the deal that comes with Bitcoin's technology to be working: computing Power. Miners are the new wall street. And they are going to be the new people on top of the world.
I do understand that in this case, sooner or later, the matter is going to come to bite them in the butt... when we should be getting these big ass green candles... at least that should be the end result of this particular ongoing market manipulation.
Now that would be too easy. They already got enough attention. FFS its barely been 4 years and Bitcoin is buzzing all around.. No need to rush it up, they know bitcoin will be there for long, they are making sure of it actually.. better letting it boiling up a little more..
remember we will have to hit the $2500-5000s on the next bubble..
