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Bitcoin $500

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Re: Bitcoin $500

#141

Post by dwaltrip »

bushido wrote: post #130
dwaltrip wrote: post #118

Earlier quoted context omitted.

Care to elaborate?

If you are looking for how this works: A classic pump-and-dump(PnD) is when a large amount of an instrument (security/commodity/shares/etc.) are bought by a few entities (people/institutions/early investors/etc). Thus creating a scarcity of the instrument which when executed well will be followed by enough hype, as the common people usually see the "meteoric growth" as proof of a good investment and "a large number"…

I was more curious about why you thought bitcoin is a PnD, but the other info does provide useful context, thanks. There is some evidence that many miners have sold most of their early stockpiles. The min-1-year bitcoin-days-destroyed chart (sum of [coin amount * coin age in days] for coin groups older than a year [1]) shows this to a degree. The metric is also an underestimation of older stockpile movement, as any transaction (even between one's own addresses) will reset age to 0. But it is still hard to say for sure.

One twist about bitcoin is that most early adopters are strongly invested ideologically and/or emotionally, reducing some of the potential dumping power. The next year or two should be rather interesting. I could see some large corrections, but each month that passes gives bitcoin more staying power/legitimacy. So far, each downtrend has only resulted in a later movement to much higher levels.

[1] http://blockchain.info/charts/bitcoin-days-destroyed-min-yea...

Re: Bitcoin $500

#142

Post by knodi »

dwaltrip wrote: post #120
knodi wrote: post #97

I hope there is a crash coming.

That is a curious thing to say. Why is that?

so I can buy them as a cheaper price point and the current market gain is just people buying to making 10% gains daily and not really to use the coins as currency.

Re: Bitcoin $500

#144

Post by TallboyOne »

viraptor wrote: post #129
TallboyOne wrote: post #75

Earlier quoted context omitted.

Don't trust anything with .info

Please don't spread this bullshit. I hear it every once in a while and cannot understand why people repeat it. There's nothing you can tell about the company from the TLD. It's just a string. It's like saying "don't trust companies with an E in their name". Yes, I own an info domain. Because I liked it and it was cheap. That's it.

I said that mostly in jest. If you're starting a site though, just don't fucking pick .info, is my .02. Don't be a cheap ass, spend the extra $6, and get a 'real' TLD that doesn't have it's reputation destroyed by russian spammers.

Re: Bitcoin $500

#145

Post by viraptor »

TallboyOne wrote: post #144
viraptor wrote: post #129

Earlier quoted context omitted.

Please don't spread this bullshit. I hear it every once in a while and cannot understand why people repeat it. There's nothing you can tell about the company from the TLD. It's just a string. It's like saying "don't trust companies with an E in their name". Yes, I own an info domain. Because I liked it and it was cheap. That's it.

I said that mostly in jest. If you're starting a site though, just don't fucking pick .info, is my .02. Don't be a cheap ass, spend the extra $6, and get a 'real' TLD that doesn't have it's reputation destroyed by russian spammers.

I don't believe a TLD can have a reputation (apart from that related to the government controlling it). That's exactly why I went for a cheep TLD. .com is a gold plated connector on a digital data cable (or whatever monster uses these days) IMO - raising the price for no reason at all. An average person shouldn't care.
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