Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27066. (Read 26720606 times)

I can't wait to see what happens when the big stash of coins from DPR go to auction (if this happens at all).
We'll probably drop to 100 for 2 months while waiting for the event to happen. Based on what happened this week.
I might get my coins out of cold storage for that one.

Rational discounting leads to a valuation scenario which renders anything but buying at the maximum holding level questionable at best.  For that reason, the emotional explanation of the bull case seems irrelevant.

I know I should expect FUD factors at random intervals, since that is history, but it is very hard to see how btc has not overcome all of the major threats at this point, save one or two in reserve.  (Fungibility being one that seems inevitable to me, but not yet.  It should show signs in the media before it becomes a price issue.)  Those items aside, that leaves only the adoption rate in question.

Yes, but...
As usual the only thing that is rising the price up is the panic buyers rising the price because they are sure the price will go to da moon. Every single time.

Sarcasm?

  fair play.

As usual the only thing that is sinking the price is the panic sellers sinking the price because they are afraid the price might sink. Every single time.

Ok, what i'm saying is you need to update your sarcasm detector.

Wait a second. Has Wall Street already started trading BTC? This trend throughout the past month is so lipsum.

That would be pathetic amateur FUD.  Professional FUD will be more like this "Source inside the USMS revealed that only three of the 10 lots were bidded at, and the bids were so low that the USMS decided to cancel the auction, since the paperwork needed to execute the sale would mean a net loss for the US Treasury.  The coins will be returned to the FBI, and will likely be used by the agency to trap llegal e-commerce sites, money launderers, fraudulent exchanges, and the customers thereof."   

This whole silly auction thing reminds me of last summer when the sale of Satoshi Dice led to a good chunk of coins (126k?) being paid out to shareholders.

Some fools thought they would all hit the exchanges and sink the price, leading to an immediate flash crash from $98 down to $86. Even though there was no appreciable impact of the payout the next day (prices actually rose), it took over a week to recover.

It seems the kind of people who held shares in SD were also the kind of people to hold their bitcoins, actual Bitcoin people and not just traders. Surprise, surprise.

When the list of bidders in the auction was leaked it should have been fairly obvious that they probably weren't going to immediately sell them, let alone at exchanges.

The whole thing was a non-issue.

Oh ok then ... I was very simply saying  ... "this auction the biggest thing in BTC? -  naaaaah"  

If there was some sort of special secret meaning , that I have missed in your last few messages- then yeah I do not understand you.

It is precious gems of humor like this that keep me from ignoring this dude.  It's just so true.

I try to be very encouraging of holders, even when I am short or medium term bearish, because they need a lot of hand holding.

Huh?? I don't think you understand what i'm saying haha. Nevermind.

Or even a better scenario. First today was THE day. Now monday and on monday they will tell us the details won't be released for another 2 weeks. So the market can be in total fear for another 2 weeks over an event everybody will forget about 1 day after it's over.

Huh? I have already stated that I do not think the auction is the most important thing in BTC this year.. far from it.. I have said it more than once... it is interesting that is all, though it was very very obvious that this week was going to see some chop! so clearly obvious.  There is also I am quite sure going to be an interesting month ahead of us.

Anyways... cheer up
  
edit: Oh and by "we" I meant kireinaha

Explanation

I can totally see the sheep this monday go like this: Oooh shit do i panic or not? The coins sold for 580 but the price is now 610 while the price when they placed the bid was 560!!! Ommmgg somebody please tell me if we should panic sell or not!

And obviously nobody will be able to answer this. So they might panic anyway just to be sure.

Of course we are.

Hell I'm a perma-bull, and even I don't think this.  Even if the coins are sold for a premium above market (whatever that means), and it leaks out to the public (never gonna happen), I wouldn't expect a huge rally or anything.  In fact, I'd place my bets on some really stupid fake FUD leak coming out on Monday saying that the coins sold for $200 a piece or some shit.  Prompting yet again another mass panic sell off for no reason at all.  Either that, or maybe next week comes and goes without anything major happening.

You see, bubbles are actually created (ie., fabricated) by whales who wait for the perfect market conditions to happen + advanced insider knowledge of some major announcements coming down the pipe.  Then they start slowly pre-seeding the market with mega dollars to begin the rally.  The bubble then feeds on itself, and is catapulted higher with mega media attention + the reveal of the major good news announcements near the middle.  This is all planned ahead of time, months in advance.  This happens in the stock market as well.

So I just don't see the next 2 weeks as that perfect storm.  Perhaps we are still 6-8 weeks away.  Or perhaps, not even until next year sometime.  I still see a slow steady rise in price regardless of what happens this year.

Edit: Oh you were being sarcastic.  Got it.

Yeah no shit? we are in agreement?

(though it is still an "interesting" period of time for BTC, not because of the auction though)