Bitcoin is the only asset that people hold where all the holders of the asset hope the price drops like a rock so they can buy more.Originally Posted by EE_
The banks are gonna get screwed so hard and be forced to buy a limited supply of BTC from people who won't sell at any price in order to meet their short obligations.
The whole thing is going to be very entertaining.
Agreed, they aren't used to trading against an asset class that trades every second of every day.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
Good point. Those old men are going to get tired out. They won't be able to take Sundays off, sleep well, or anything.
It was discussed on another forum about how TPTB use futures to short silver and gold and some wondered if it could happen to crypto currencies. A poster posted some good points indicating that they could in the short term, but long term they'll get killed as they are used to trading between 9am and 4pm and then going home at the end of the day. The crypto traders are relentless with each running custom bots. I detailed on this forum (can't remember which post) about a whale at OKCoin (100 BTC) who was manipulating the price on OKCoin, and someone custom coded a bot to start trading against him and he damn near lost almost all of the 100 BTC he was using to drive the market.
I think they are going to learn in a short order that Bitcoin is a monster when it comes to price discovery and trading.
Last edited by Ares; 9th December 2017 at 05:10 PM.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
vacuum (9th December 2017)
https://thechive.files.wordpress.com...rip=info&w=500
Anonymous creator of bitcoin who skimmed the first million bitcoins for himself?
How many bitcoins has new-billionare "Satoshi" himself cashed in/sold according to the public blockchain record?
I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.
Hitch (9th December 2017)
Not a single coin that Satoshi mined has moved.https://thechive.files.wordpress.com...rip=info&w=500
Anonymous creator of bitcoin who skimmed the first million bitcoins for himself?
How many bitcoins has new-billionare "Satoshi" himself cashed in/sold according to the public blockchain record?
http://time.com/money/5002378/bitcoi...o-billionaire/In 2013, Bitcoin watcher and head of cryptocurrency firm rsk.co Sergio Lerner wrote a series of blog posts explaining why he believes an account holding 980,000 individual Bitcoins belongs to Bitcoin’s mysterious founder, Satoshi Nakamoto.
Lerner analyzed the path of the first Bitcoins ever created, or “mined,” and traced them to a single mining source. Lerner then correlated this source to about 19,600 other Bitcoin “blocks,” which were actually just sets of cryptographic puzzles that, when solved, were worth 50 Bitcoins in 2010.
This mining entity stopped at 19,600, and never moved any of the Bitcoins it had earned. Lerner believed anyone who wasn’t Satoshi would have almost certainly tried to sell at least some of the Bitcoins, to take profits on what turned out to be as successful, if speculative, investment. The fact that none of the Bitcoins have been touched suggests the miner has “shown complete trust in Bitcoin” and is almost certainly therefore Satoshi,” according to Lerner.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
Thanks for real info Ares. Does this make sense to you? Creates bitcoin...works hard and long...but has never himself cashed a single bitcoin?
Not so much unbelievable as unthinkable.
Hence, the alleged Satoshi stash still contains 980,000 Bitcoins — which at current prices are worth about more than $5.8 billion.
I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.
I guess if you look at others who proceeded Satoshi bringing new and different financial systems into being either winding up dead or in prison maybe he realizes he risks his freedom and life if he moves any the coins.Thanks for real info Ares. Does this make sense to you? Creates bitcoin...works hard and long...but has never himself cashed a single bitcoin?
Not so much unbelievable as unthinkable.
At current prices he's sitting on 13.7 billion USD value of crypto currency and he hasn't moved a single coin. Maybe he just wanted to bring it into being and is leaving it as is? I honestly don't know. The last official communication I can find from him is a post he made after Newsweek attempted to out him and picked Dorian Nakamoto as Satoshi.
He responded with "I am not Dorian Nakamoto"
Permalink Reply by Satoshi Nakamoto on March 7, 2014 at 1:17
I am not Dorian Nakamoto.
http://p2pfoundation.ning.com/forum/...age=2#comments
This is the original site and thread of where Satoshi brought forward the Bitcoin protocol and announced the Bitcoin foundation.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
Jewboo (9th December 2017)
Your knowledge about this is demonstrably deep Ares. I'll give you that.
Him possessing a wallet that now contains $$$ BILLIONS $$$ proves his original obvious self-profit motive and intent. Not incidental...lol.
Curious why he hasn't cashed any out yet.
http://www.textures4photoshop.com/te...ground-716.gif
I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.
Ares (9th December 2017)
Your guess is as good as mine. There are a lot of us at Bitcointalk who have asked the same question. All we can do is speculate. The block chain shows us his coins and we can see they have never moved out of the original block when they were mined. As of now they're sitting in a wallet accumulating enough value to give Warren Buffet, Bill Gates, and Jeff Bezo's a run for their money and yet Satoshi hasn't spent a dime...Your knowledge about this is demonstrably deep Ares. I'll give you that.
Him possessing a wallet that now contains $$$ BILLIONS $$$ proves his original obvious self-profit motive and intent. Not incidental...lol.
Curious why he hasn't cashed any out yet.
http://www.textures4photoshop.com/te...ground-716.gif
As Charles Hughes of to minds said regarding the coins not moving: "Satoshi is either dead or has the austerity of a saint."
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
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