The Bitcoin Tracking Thread

[Ares]

Don't underestimate the willful ignorance of the vast majority of the population. Butler has over decades exposed the bullion banks manipulation and short position of the PM market. But the reality is that the only thing needed for most people to reject all the readily available facts pointing out that the only safe way of investing in the PM market is to buy physical PM's, is if their personal trusted banker to tell them it is not safe. And people buy SLV and GLD instead... Sorry that is the reality!

How exactly does that work in their favor? Bankers I mean... If they buy a bunch up and hold they cause the price to rise. If they drop a ton on the market especially with China, India, and Russia getting on the scene they just performed a wealth transfer and the price will correct.


I get the physical manipulation have been watching it since back in 07 and I'm sure some of you guys much much longer. But they are unable to manipulate crypto's with the same ease they have in the past. It's easy to lie with the SLV and GLD saying they have this or that in inventory. It's not as easy with an online ledger that will say definitively what they do or do not have.

[Neuro]

How exactly does that work in their favor? Bankers I mean... If they buy a bunch up and hold they cause the price to rise. If they drop a ton on the market especially with China, India, and Russia getting on the scene they just performed a wealth transfer and the price will correct.


I get the physical manipulation have been watching it since back in 07 and I'm sure some of you guys much much longer. But they are unable to manipulate crypto's with the same ease they have in the past. It's easy to lie with the SLV and GLD saying they have this or that in inventory. It's not as easy with an online ledger that will say definitively what they do or do not have.

There is now what? 11-12 Million Bitcoins? Lets say the bankers bought up half that 5-6 million bitcoins the last year, at an average price of $120, an investment of $6-700 Million. Now they have enough of bitcoins for window dressing... Public starts to get convinced about the brilliance of bitcoins as an investment, but they figure its complicated and unsafe. Perfect time to start issue some Bitcoin futures on the normal exchanges to get the hedge funds and other early mainstream investors to buy, these futures are issued out of thin air by the banks that hold a significant amount of real bitcoins, so they actually don't cost a thing, unless you have to deliver real bitcoins for them. Then you can issue derivatives around these futures... Then you can base mainstream investment products around the futures and derivatives, which will track the performance of the bitcoin, without having a single bitcoin, you can close the loop by offering this investment product as settlement for anyone foolish enough to want a physical settlement on their future/derivative, you change the rules so only those who have bought futures on more than 5000 bitcoins can get a non-monetary settlement. Then as you have sold paper loosely based on the bitcoin to the tunes of 100:1, you just crash the price of bitcoin, and keep the cash that you sold it for. It helps to have the press in your hand so you can paint the image that bitcoins are now technologically outdated, combined with continued increased issuance of more bitcoin futures...

[Ares]

There is now what? 11-12 Million Bitcoins? Lets say the bankers bought up half that 5-6 million bitcoins the last year, at an average price of $120, an investment of $6-700 Million. Now they have enough of bitcoins for window dressing... Public starts to get convinced about the brilliance of bitcoins as an investment, but they figure its complicated and unsafe. Perfect time to start issue some Bitcoin futures on the normal exchanges to get the hedge funds and other early mainstream investors to buy, these futures are issued out of thin air by the banks that hold a significant amount of real bitcoins, so they actually don't cost a thing, unless you have to deliver real bitcoins for them. Then you can issue derivatives around these futures... Then you can base mainstream investment products around the futures and derivatives, which will track the performance of the bitcoin, without having a single bitcoin, you can close the loop by offering this investment product as settlement for anyone foolish enough to want a physical settlement on their future/derivative, you change the rules so only those who have bought futures on more than 5000 bitcoins can get a non-monetary settlement. Then as you have sold paper loosely based on the bitcoin to the tunes of 100:1, you just crash the price of bitcoin, and keep the cash that you sold it for. It helps to have the press in your hand so you can paint the image that bitcoins are now technologically outdated, combined with continued increased issuance of more bitcoin futures...

That's going on the assumption that they've purchased 5-6 million coins before it got up to be where it's at now. It's a pretty safe bet that they haven't purchased anywhere near that amount.

Now will they do so in the future? Quite possibly, but banks (at least here in the U.S. and Canada) have been particularly cold when comes to their stance on Bitcoin. They even said as such during the Senate hearing, that they don't see a forseeable way to make money from Bitcoins. Most bank revenue is off of service fee's (according to them) with Bitcoin they are completely sidelined. Bank isn't required. Right now Bitcoin exchanges are currently taking the place of a bank, open market (to purchase / buy Bitcoins), and international wire facility. All with minimul (almost none when doing a transfer with BTC's).

With the growing number of alternative crypto coins, it's like a multiheaded hydra. They are usually used to being the multiheaded hydra. They're not so used to having to deal with one on their own.

[Horn]

That's going on the assumption that they've purchased 5-6 million coins before it got up to be where it's at now. It's a pretty safe bet that they haven't purchased anywhere near that amount.

The percent of volume that just dictated the price in recent weeks is the only percentage needed. Demand for Bitcoin being stripped by rapid fluctuation.

Demand for Silver is stripped by decades of suppression and long standing supply chains, now vunerable supply chains.

Well until Bitcoin showed up to relieve them some.

[Neuro]

That's going on the assumption that they've purchased 5-6 million coins before it got up to be where it's at now. It's a pretty safe bet that they haven't purchased anywhere near that amount.

Is it? It went from low tens to high hundreds in that time frame, in more than 95% of this time it's been trading below $200, and it made this 5000% or so increase in an atmosphere where its had multiples of bad news, concerning its safety/thefts, Silk Road confiscation, Mt Gox, the major exchange, trading problems, etc. Seems like this has only been minor hickups on the road to the pearly gates. I would say that it is highly likely that major actors have been carefully vacuuming the market for bitcoins, and they didn't pay anyway near the current prices as an average...

[Horn]

The "chinese market rush" by supposed knowledgeable traders in the field is something that needs to be investigated further.

Chinese are typically conservative and chip away coordinated as a Borg. Unless now they've become so desperately free that chomp like Piranha? If that's the case, they ain't got much longer before their supply chain runs out.

Fact is Bitcoin needed a much wider and whiter real trade market first as a exclusive currency before being speculated upon. It is a test bed for some other type, or eventually to be gobbled up by a larger Ripple fish. Its utility being the sales point, over any kind of limited and gold investment aspect.

Join us now in a moment of tribute, to its decentralized nothingness.

The virtual can not exist without the real, while the real can exist without virtual.



Now let's get on with finding ways to circumvent silicon as its processing thruput is capped.

[EE_]

Bitcoin: For Smuggling, Ordering Hits, Paying For College And Now - Going To Space

Richard Branson @richardbranson
Want to spend your #bitcoins? How about a ticket to space! Will discuss today live on @SquawkCNBC @virgingalactic8:20 AM - 22 Nov 2013

[Shami-Amourae]

Bitcoin is crashing again (thank God).

Looks like $900 has strong resistance.

[optionT]

Bitcoin is crashing again (thank God).

Looks like $900 has strong resistance.

I could see it taking a few days to go through 900. In the meantime, buying opportunity.

[madfranks]

Bitcoin is crashing again (thank God).

Looks like $900 has strong resistance.

Less than a month ago it was $200. Unless it touches that level again I don't think "crashing" is the proper term. My gut is telling me it needs to correct back to $400 or so.