I said this somewhere else, but remember, the Gov't was watching him for months. Im sure they had every key stroke documented from late spring until the day they arrested him. I believe they started watching him around May or so...They were following his every move...(and keystroke)

C'mon you guys.. The gov't won't get this solved for years, until then, the coins will just sit there..... The case has to be done with before they can seize them. Hes innocent until proven guilty.. lol.. Why would it be bad to hold a large number of coins now? the person or people that purchase them may just hold on to them...

The reason poker is illegal in the USA is not because of the game poker its how dollars are transmitted to the poker sites, that is what is illegal. As long as dollars aren't involved poker is 100 percent legal. Now, there are states that are now banning online poker (Utah) but other than that, bitcoin poker is oky doky...

I play with about 20-25 percent of my coin, back when the btc was in the 10 dollar range, i seemed to do quite well, now, for some reason (after the coin hit 130), every time I sell or buy, i lose. glad I only play with a small percentage. After today,( unless things change) Im done with trying to figure it out.. I think the best strategy for me is hold until I need the money to pay bills or something. It sucks to lose money, be it on paper or real... Im giving my significant other the keys to my storage, she seems to call it right every time. We are in it for the long haul anyways, we will care more what the btc is in 10 years or so, so dont ask me why I try to play this stupid game, lol....

Whats funny is that my wife couldn't send a bitcoin, she doesn't know how wallets, etc work yet had I listened to her every time, we would have much more.... Note to self, listen to my wife more..

Buy and hold seems like the best strategy, but when it starts to crash and read these damn boards, I do the damndest things...

Why all the doom and gloom just because China may be out? Come the first of the year, wall street will be buying coins and I've heard India is starting to get into bitcoin. Granted, Chinas exit will hurt, but I dont think this is a short term situation, getting back to 1k a coin may take a few more months.. I just dont get why a lot of people think that this is the end of bitcoin? Its going to hurt, thats for sure, but the Chinese are smart, those that want to find a way, they will.

So, is the reason gox is climbing so high is because people are paying whatever to just get BTC and get out? Man, Im glad I did that when btc was around 100 or so, even then I took a 20 percent hit, but it was worth it.... So, when people are done transferring, will gox settle down to what the other exchanges are at?

You have to remember that the US Govt. Has all of Silk roads info.. All bitcoin addresses, etc. Im sure the small fish don't have anything to worry about, its the bigger vendors that do. They have had access to all of SR's info since last summer, months before they shut it down. So, it doesnt really matter if SR had some sort of mixer, the Govt can now match up the senders and if they get the exchanges info, the receivers address. Again, the guys that need to worry are the big vendors on Sr.

Most of the exchanges are outside the USA, so I doubt they are looking too much into them, its the big sellers they are after.. connecting all the dots.

I think that they just want the personal information. Like I said, they are going after the big fish from SR, I dont think they are targeting the exchanges  (As trying to bring them down). Most exchanges require your personal info, KYC, and all that, so if they can connect a person withdrawing hundreds or thousands of coins from a SR address that they now have, its a no brainer... The govt has just begun bringing down big SR vendors, this is just an investigation tool to help them.

Except there are only 30 days in June...

Just wait til the Govt start to sell off the 122k coins that it took from Russ Ulbricht. The Govt and Russ have already made an agreement that they would sell off the coins and then fight for the cash later.  Im hoping that they sell to a private investor and not just dump 122k coins at once.. If the govt sells this like they normally do, with auctions, then we should be okay, but can someone do the math and see what would happen if they just dumped 122k all at once? I would assume even if they sold on the exchanges that they would do it very slowly, but we should keep an eye on that wallet.. the day that wallet starts to move is the day we should worry..

Any links to the above?

Thanks for the info...

That offer is for the 27k that was on SR.. Im talking about the 122k that was on Russ Ulbrichts personal wallet.. I like how he sais hes not DPR but has 122k coins..He must have had one hell of a farm, lol..... Both numbers bother me as both can cause issues to the bitcoin price, but Im pretty sure that they will auction all the coins off as that seems to be the way the govt handles seizures. Especially now that bitcoin is considered property and not money..

But Its a major USA holiday on Monday.. It will be interested to see what it does on Tuesday here in the USA...

looks like that btc address that contained 177k coins is on the move..

https://blockchain.info/address/1AZVcgGjb64XYzmAXwQyWCmvsZriQoiJw

I was wondering when the govt was going to start doing something  with those coins..

Whew! Thats right, Dpr's wallet only has 144k coins, not 177k...

Arent there 2 govt wallets? one with the initial seize of about 20k coins and then DPRs personal wallet of 144k coins? I only know of the big one..

its pretty obvious that some sharks want us in this area. Most of the walls are fake, but once they get done with their fun, then we should see some fun..

The SR coins wont see the exchanges for a long time.. So, the only thing I can think of is that 1. the big boys are trying to get btc down so far that a low bid will win. 2. people think that they will hit the exchanges soon..  

I just want the bleeding to stop...

I think it will be kind of bearish until that damn auction is over. Then its going to be CCMF.. Well, maybe not to the moon quickly, but I think we will be more bull than bear, once they get those coins gone. I don't think we will see many of those coins hit the exchanges for quite a while, so i dont know why the market reacted the way it did. Most of the guys that put in their bid will be hodling...

I think its a good time to buy.. When that auction is over, we are going to go steadily up.. I don't think too fast, but well look back in a month or so and think that 600 was a really good price.

The bitcoin market is very emotional. It moves up or down on whim. The SR coins are just an emotional thing, I think. For some reason people think that the price the 27k coins are sold at will set a precedence for the coins going forward.

Don't know if anyones mentioned this or not, but maybe all the buying that would normally be taking place right now is on hold because they are waiting to see if they win their bid, if they don't they will go back to buying. So, if im right, that means after the bidding is done, we will see a massive spike because the big buyers will be back to buying and not trying to win that bid that costs millions of dollars.

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

Here is the link to the guy that offered spot minus 15 percent for all the coins..

http://www.businessinsider.com/falcon-global-capital-offers-to-buy-the-fbis-bitcoins-2014-2

I had a feeling that BTC would start to go up after the marshals sale...

Every time we hit a Bear market, I have to admit, I panic a bit. I used to sell a bunch and every time I did, I regretted it. I truly believe that holding is the best choice and will be buying once i see it settle a bit. There may a be a lot of people out there that are like I used to be.. "Shit, it just dropped 20 percent, better get out while the getting is good" only to see it recover a few weeks later..

Just hold or even buy, its still a great deal..(even if it falls more)

My coins are going to be my retirement. So, im more worried about the price 15-20 years down the road. The one thing bitcoin has done and always do is go down and up, rinse repeat.. I have total confidence that we will be well above the 5k mark in 10 years, probably sooner..

Can you point to the site that you get this info from and explain your reasoning? Not that I don't believe you, its that Id like to learn.

I was suggesting that i try not to worry about all these dips. My main concern is what Btc will be in the future, Even though I have sold many coins before it started to skyrocket, I still was able to hold to a "few" and still obtain them here and there. I feel that if Btc gets to 5k id probably sell most and invest the fiat into traditional investments. So, if it does get to 5k, I should be set for life..

Thanks to bitcoin, Im almost totally out of debt. (sold a chunk when it was just under 1k, I missed the 1200 boat) paid cash for a brand new car (which was totally surreal)Not trying to brag, just stating that even if bitcoin were to tank or go away, I still would look back and think that it was one of the best investments I ever made.

There is one phone  missing in that photo. I purchased a "mobile" phone in 1991 or so and it was roughly 8x10x3 and had a handset that looked like a traditional phone with a 8in antennae, i believe that was the first mobile phone built as I was totally into cell phones when they first were introduced in the late 80s and paying 1-3 dollars per minute. Ill have to find a picture of that phone.. too bad I didn't keep it, im sure it would be worth something today..

While i won't buy too much, I think ill be buying a little here and there. I use my coin on coinbase for spending purposes, then i buy back what I just spent. I think everyone should do that. Use expedia for hotels (that will be expanding) and overstock, and all others that take bitcoin. If you don't want to part with your coin, do what Im doing. Just replace it, coinbase has an automated feature for this.. quite cool.

i can't wait til we get to the good ole days of "CHOO CHOO MOTHER FUCKER"...

Im sure we will touch 550 soon, then choo choo..

Yep, you are correct, it was a Motorolla, Black, with a leather or fake leather covering, and yea, it was 6w or so.. It had a strap to put around your shoulders, boy did I look cool back then, lol....

I think we will see a steady increase.. Weather its up or down is yet to be seen, lol.. but i think its going up..

What a shame that he passed away today, one of my favorite actors of all time...

I thought Amazon was "thinking' about it.. but you guys are right. it would be a smart move to take bitcoin, it would save them millions each year... Netflix is another company that would benefit from bitcoin, they just provide a service and I would be more apt to buy a full year instead of them charging my credit card each month.

I;ve heard that bitstamps issue with their changing banks is the main reason for this dump, but it doesnt make sense, their volume has been huge over the last few days, if people were having issues getting money on or off, why such the huge volume? it would be the opposite..

I  hate playing the "what the hell happened game" but all ive heard is good news lately about bitcoin over the past few months, so i just dont get it... Im a holder, but im really starting to rethink it..

Remember the recession of 2008? people lost a shitload of their retirement, but it only took 3 years or so to recover and surpass their losses, so, with bitcoin, you have to think long term, what it will be in 5 years, not what it will be tomorrow, it will just eat you up. at one point, I stopped looking where bitcoin was at daily. since the alt, I started looking again, i think im going to go back to not looking. it seemed to work better..

That guy that bought all of SR's coins must be kicking himself right now... then again, that money he spent was probably his vacation money for the month. but, why aren't all the other guys that put in their bids buying it up? Thats what I thought was going to happen if one of them didn't win any, they would just buy some on the exchanges, well, now is a great time to be buying.. even if they think it will continue to go down, just slow buy on the way down..

Does coinbase sell their coins on bitstamp? or do they sell to big investors, I get the feeling that they just use an exchange..

Im seriously thinking about cashing out and then rebuying with the bleeding stops. I truly believe it will go at least 50 dollars lower than it is now, but most of the time I have done that in the past, i got burned, glad i only sold a tiny bit and not the whole ball of wax... My wife told me to just leave them in cold storage, its not like I have a ton, but what i have now could put a nice down payment on a house or buy a very nice luxury car... Ive already lost 20k or so on paper the last couple days,  I just dont have the blood pressure to take this..

But, like Ive said before, Im in it for the long haul and need to remember that im betting on the future years down the road, not weeks or months.. Ill probably just hold, and ill come back here crying saying I should have sold... If I sold and it it dive, I would for sure buy back in.... but fuck it.. Ill just hodl....

can someone point to me the order books that people keep talking about?

How far do the sell order go? I understand that they can be taken off at any time, but it gives a good indication.. so there is s strong sell coming, ya think?

 I wish I could read em and make sense out of them..

Ill take you up on your offer.. I hope the market makes me in a good mood:)  

talk to you tomorrow..

Im actually buying some coins, but I wonder if I should sell a few (over a 100) and buy them back since I can almost guarantee that sometime tonight well test 400 and then rebuy.. Ive been burned in the passed doing this, but i think this may be a fairly good bet..

Thoughts?

I am a holder and dont plan on selling, I just think this downward spiral isn't over with and this may be a good time to take advantage of a for sure bear market as this isn't a trap (I think). I know im taking a chance.. but either way, Id buy them back even if I had to take a loss.

Ill probably chicken out and just hold, but im thinking about it..

Lol, thought someone would bring that up.. why not? I post here anyways so why not get an extra half a coin a month? I think its smart..

Your words would make a little sense if bitcoin didn't have the infrastructure that it has. The alt coins are nothing but trying to get rich schemes on the tail of bitcoin. I have predicted the fall of most alt coins for a long time because there is very little support outside the alt coin world. How many times have you seen litecoin or another coin mentioned on the news? I never have.. So, while  bitcoin could really take a hit, it will survive..

Go over to the primedice thread by stunna. they go by your status, like the lower members cant join, but senior members get .00010btc per post up to 400 posts and and hero status gets .00012btc for a maximum of .48btc  I might have been off by a decimal on the guesses, but hero status max is .48btc and the next level down max is .40btc.. its the best deal around, i think..

If not lower.. but I dont think the risk is worth it.. Ive been thru worse "storms" and hopefully ill look back in a few months and this will be just another lesson to hodl....

I don't gamble.. I just post their signature and let people have a choice. Whats a scam is that minersource.net ad thats here. they turned scammer and closed up shop,, now thats a scammer..

Its amazing what 1 person can do with just a few million dollars. Its not ethical but financially for them its great. wait til there are tons of longs, then short the hell out of it and then dump... like you said, they just probably doubled their holdings...

I thinks is ironic that as soon as the price gets to about 492 or so, there is small dump, the amount that is dumped is the close to the same, and it drops by about 10 bucks each time. This has happened about 4 straight times, i just noticed it, not sure if this has been happening during this entire drop session..

Someone or something is manipulating it, at least that is what it looks like, and with the levels, I think this is someone that it tired of dumping in the low 400 range but is okay with the upper range.

I think this is what has happened before, like the small fish jump to 520 a few days ago..

thoughts?

i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.

Why does it matter that there are 7300 shorts? because thats a shit ton?

So, lets say I shorted, like in your scenario, could I sell at 450 and only make 500? or do I have to wait til I hit 400?or if it plummets further can I sell at 350 and make 1500? is that right? now, what if it doesn't go down, when am i screwed with a margin call?

this just sounds so damned confusing, lol and extremely risky..But very profitable if you guessed the right way. Also, this only works by borrowing either coins or money, right? there needs to be a class on this somewhere, lol.. bitfinex explains it like you already know what you are doing..

If there is a lot of shorting, couldn't there be a whale that has shorted the shit out of it and knows hes safe because hell dump a lot and cause a panic sell to make it plummet again and not only does he clean up with all the short positions, he rebuys coins at half the price he sold them earlier..

is this a possibility? or even a probability?

That should be illegal, lol, someone call the bitcoin police  >: This is one of the few things that bitcoin has a problem with. there are a lot of people that can really shift the price of bitcoin, this will change with time, of course, when more coins are made and when the price gets up there, but they might get so rich, that it may not even matter, the price can be whatever, etc. Im hoping what I said isn't happening but im sure its happened or is happening.. even worse, an exchange could do this very very easily, not even use their coins, lol..

I remember a year and half ago or so Gavin said that there was going to be a big announcement in a few weeks in the end of summer 2012, he never said what it was but only that it would help stable the price of bitcoin. I dont think I ever saw the official announcement, i wonder if what he said was ever implemented? if he did, its not working, lol...

Im wondering if this is the same little cat bounce that happened a few days ago,, didn't it go to 520 or something before it went sub 400?

This is why I've changed my mentality. Instead of worrying that my coins are losing value, think of it as an opportunity to buy cheap coins.. Hell, i might start buying litecoin, and I hate alt coins, but that might just be a smart move as I smell coinbase in the hunt for taking them soon.. if that happens, i wouldn't doubt a litecoin price double just on the announcement..

The last few days it sure seems like someone is pumping and dumping, they let it go up about 10-15 bucks and then dump, but they dont let it go down too far, then they rinse and repeat. if you look at the charts, the timing is almost the same and the amounts are pretty similar.. I have to think this is another little pump and dump, the price just got a little higher.

the nice thing ive noticed is that the volume is much better than it has been... so that may make a difference..

I think we will see some profit takers and we will see just above 500 and then it should slowly go up with its usual peaks and valleys, but I smell an upward trend after this little profit taking..

I have been thinking about investing in ethereum.. what are peoples thoughts? I know that they just dumped a shitload of coins, but i think mastercoin is basically their competition.. What are some of your thoughts on ehtereum?

I just dont fucking get it... the volume is very small, yet we are plummeting.. i guess the good news is that it wont take much for it to go back up. but we are hearing good news..paypal/ebay taking bitcoin. companies paying their employees in bitcoin.. you would think bitcoin should be closer to 800 rather than 400..

I wonder if the hack has anything to with it.. I've given up trying to figure out why bitcoin dips and goes up..

Their volume has been very low the last few days, but so has btc-e's.. I don't know what the hell is going on, but bitcoins reasoning for its ups and downs are not normal.. never have been and probably never will be..

The volume has been very high the last few hours..... wonder when the bleeding is going to stop? I believe we will touch 350 in the coming days.

I think this is going to be a rollercoaster until china wakes up.. then it will probably go up steadily..

I just hope we can keep it above 420..

Will we break 450? sure, but will we also break 400?

LOl, after that 50 dollar flash bull shot (what do you call  the opposite of a flash crash, lol) and went all the way down to the 360's. I want it to go up slowly,that quick uptrend is for the birds.. ill take it nice and slowly...

Now they are taking the profits (the guys that bought in at 275).. Damn, wish I had fiat to spend.. that was a no brainer...

I wonder when (who ever is controlling the btc price) is going to make a big move. I have  a feeling the next big move will be up. THen it will go down, so they can buy more at a discount, and then rinse and repeat.. its going to take some very big whales or something to get us out of this slump. (Like the chinese thing that happened last year)

volume is low, when we see a little sun light, boom, we get a dump. I think someone said it was bitstamp. All we need is that one whale that dumped 26k coins at  sub 300 to now buy 15k coins, lol...

UGHH, I hate these panic sellers. I sure has hell hope it doesn't hit 350. but i think well be lucky if thats the bottom.. I hate this bullshit. Im not asking for 1k tonight, but give me 400, and ill be happy, im not greedy.. But, then we would have another sell off to bring us down... Im gunna have to start seeing a fucking psychiatrist watching  bitcoin.

I like your thinking...

Can someone point to me the wall that everyone talks about? I know the page that shows the sells and buys, but Id like to see the actual walls.

what we need is a huge world financial crisis.. Cyprus x1000 that will get btc going...

If it drops below 300 for too long, the miners will lose their shorts. Granted, the newer miners are much more energy efficient, but the miners are partly to blame, they should hold more and just sell enough to pay for expenses, but I do think that some of this sell of is due to bitcoin thefts, there have been plenty of them in the past year, im only guessing, but thats all you can do in this fucking game. Im considering selling off and catching at the bottom, I feel that we may test 250 or lower.. I hope im wrong, but not if I sell, lol..

Ill stick to my guns and hodl, I just need to find some cash to buy at the low prices.

I just feel that we are going to start going up.. I can feel it in my bones...Since there hasn't been anything new regarding bitcoin is my reasoning.. its when there is news that you expect it to go up, well, since we haven't heard much, that means it has to go up? lets hope..

lets hope the upward trend will start soon. if not, lets hope it starts within the next 5 years, lol..