Quote from: ArticMine on January 26, 2016, 11:42:18 PM

Quote from: americanpegasus on January 26, 2016, 07:44:14 PM

When the Winklevoss decided to acquire 1% of Bitcoin in the early days, it sent the price skyrocketing, right?

I need to try to find the speculation threads of when that was happening. I'm sure early fans were freaking out and discussing technicals and all manner of irrelevant signals. Meanwhile what was actually happening was some whale had decided to acquire a huge stake and the market felt it.

Also, perhaps a meteoric rise is actually possible, since I am one of the biggest bulls out there and even I think a rise to .005 would be ridiculous by summer. It's when no one expects it that price goes to Alpha Centauri.

This is my perspective from the point of view of someone who was there at the time. The XBT/USD exchange rate from mid 2011 to the end of 2013 was influenced to a significant degree by the rise and collapse of two massive XBT naked short positions. These were pirateat40 who at its peak led the market to believe he was good on around 800,000 XBT and MTGox who also at its peak led the market to believe it was good for around 800,000 XBT. To put things into perspective the total number of XBT during the same period of time ranged from about 6.7 million to 12 million. These means we are talking of naked short positions in the neighborhood of over 10% of all XBT.

The influence of massive naked short short positions on any market is very predictable. First there is falling and then stable prices as the short positions are built up. Then when the market starts to rise on its own accord the shorts are squeezed to the wall causing a meteoric rise in prices and after the dust settles the market ends up at significantly higher price levels. The Winklevoss were among many smart money investors both large and small who played the classic naked short squeeze: 1) Buy 2) Take Delivery 3) Wait 4) Profit.

The situation with Monero is actually very different since there are no massive naked short positions waiting to be squeezed. The fundamentals are very strong but in a different way.

Thanks for the perspective. What are your thoughts on the next 12months for BTC and XMR?