Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
pure speculation here, but what do you guys/girls think are the chances that Loaded or similar has something to do with those old moved coins and they have potentially been sold/are going to be sold off an exchange, presumably to a Chinese buyer?
I agree. It is more likely that these coins were sold privately. You don't just dump 1% of the outstanding bitcoins on BitStamp (or cavirtex
).We've all seen how large sell orders can drive down the price, but remember, if big players want to get into this game, they must be very worried about driving up the price too high before establishing a position commensurate with their wealth
And there are *very* big players waking up to the possibilities of bitcoin. Take Vladimir Putin, with a potential net worth between $40 - $70 billion (http://www.thebureauinvestigates.com/2012/04/19/putin-the-richest-man-on-earth/). Just think how difficult it would be for him to buy up 1% of the outstanding bitcoins (which is only ~0.1-0.2% of his net worth!). He would need to cut deals with early adopters holding large numbers of coins. I also bet he is paying *more* than the market value. (Of course, Putin is probably not buying; the point is that there are at least a few rich billionaires who are.)
Tits or GTFO
So you think it is more likely that not a single billionaire in the entire world has taken a position in bitcoin, despite all the news and excitement? Isn't Richard Branson a billionaire? I think we have evidence that he holds some coins.
I don't believe billionaires would buy into Bitcoin because their riches are based in fiat and it is their best interest to support the status quo. Show me proof that a billionaire has bought a substantial quantity of Bitcoin.
interest in status quo bc status quo is in their best interests. there is an albeit small possibility status quo may begin to fail in that regard, perhaps already has started. the hedged and exploratory position or mere interest can quickly snowball.
The Bitcoin market is a flea on an elephants ass currently. Small fish (the winklevoss douches) that want to be big fish are buying in because they need a speculative monster to advance quick enough to be able to enjoy their great wealth before the age that their dicks shrivel into an unusable Vienna sausage.