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Will be interesting to see how this announcement effects the price of bitcoins. I would imagine there will be an initial drop out of panic, but if we see some w

Will be interesting to see how this announcement effects the price of bitcoins. I would imagine there will be an initial drop out of panic, but if we see some wealthy individuals with a vested interest in bitcoin buying these up, it could very much cause a large shift upwards in price.

lucb1e 12y ago
> Will be interesting to see how this announcement effects the price of bitcoins. That's what people asked last time when, if I remember correctly, the FBI was selling off some of the Silk Road coins. Nothing really happened, maybe a few percent drop, but that happens every day so I'm not even sure that was due to the sell.
- zeeshanm 12y ago
  To add more context, a well-known investor who happens to have significant influence ended up buying those bitcoins.
martinko 12y ago
Right after the news broke we saw a relatively high volume dump pushing the price down by about 8%, from 410 to 375. Curious to see where it will go now. To be honest I expected a larger dump after this kind of news..
- bbcbasic 12y ago
  Funny it should have barely any effect on the price, but if the news caused this drop it is probably because people sold anticipating that the news would cause this drop.
atmosx 12y ago
I don't think so. You're assuming that BTC are somehow equally distributed :-) IMHO they are not ;-)
- stockkid 12y ago
  Would you care to elaborate?
  - atmosx 12y ago
    Here: http://www.convalesco.org/blog/2014/02/11/on-the-matter-of-bitcoin/#43 http://www.convalesco.org/blog/2014/02/11/on-the-matter-of-b...
jaxx456 12y ago
I wonder if the people who were interested in this kind of thing before would be interested in buying bulk bitcoin again. Seems like it's all free money.
kristianp 12y ago
If bitcoin exchanges were an efficient market, there should be no drop, because this sale has been anticipated, just not the exact date. However it isn't an efficient market.

lucb1e 12y ago

> Will be interesting to see how this announcement effects the price of bitcoins. That's what people asked last time when, if I remember correctly, the FBI was selling off some of the Silk Road coins. Nothing really happened, maybe a few percent drop, but that happens every day so I'm not even sure that was due to the sell.

zeeshanm 12y ago
To add more context, a well-known investor who happens to have significant influence ended up buying those bitcoins.

martinko 12y ago

Right after the news broke we saw a relatively high volume dump pushing the price down by about 8%, from 410 to 375. Curious to see where it will go now. To be honest I expected a larger dump after this kind of news..

bbcbasic 12y ago
Funny it should have barely any effect on the price, but if the news caused this drop it is probably because people sold anticipating that the news would cause this drop.

atmosx 12y ago

I don't think so. You're assuming that BTC are somehow equally distributed :-) IMHO they are not ;-)

stockkid 12y ago
Would you care to elaborate?
- atmosx 12y ago
  Here: http://www.convalesco.org/blog/2014/02/11/on-the-matter-of-bitcoin/#43 http://www.convalesco.org/blog/2014/02/11/on-the-matter-of-b...

jaxx456 12y ago

I wonder if the people who were interested in this kind of thing before would be interested in buying bulk bitcoin again. Seems like it's all free money.

kristianp 12y ago

If bitcoin exchanges were an efficient market, there should be no drop, because this sale has been anticipated, just not the exact date. However it isn't an efficient market.