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Anyone care to take a guess as to how will this affect Bitcoin price?

by saganus 12y ago

drcross 12y ago
It will only serve to legitimize bitcoin if anything causing a possible increase in price and won't directly affect the price through the sale.
- davidgerard 12y ago
  * price goes up * price goes down * price stays the same * anything else happens "THIS IS GREAT NEWS FOR BITCOIN!!"
  - SilasX 12y ago
    More like: - Price stays flat: "Obviously, market cap is too low to support a legitimate currency." - Price goes up: "Obviously, it can't work because it's a deflationary currency." - Price goes down: "Obviously it a bubble that's popping."
  - saraid216 12y ago
    The market was written without break statements. switch(news) { case 'price goes up': theskyisfalling(); case 'price goes down': thegroundisrising(); case 'price stays the same': quicklookoverthere(); default: celebrate(); }
deleted 12y ago
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aqme28 12y ago
It's dropped about 10% since the news.
- lucb1e 12y ago
  That's not a guess.
drcode 12y ago
I think this is the best publicity imaginable. I can't see any reason why the price wouldn't go through the roof over the next month, but bitcoin prices are tough to predict.
- tlrobinson 12y ago
  Can you explain why?
  - drcode 12y ago
    (1) All publicity is good publicity. (2) Having the US government treat bitcoin as an auctionable asset undercuts naysayers who say bitcoins are "tulips". (3) We have a precedent with the original seizure leading to a bitcoin rally. (4) The US government is now acting as a sort of "bitcoin exchange". This auction will give new actors a way to enter the bitcoin market without certain legal uncertainties.
  - danielweber 12y ago
    If you compare to his other comment on this page, I'm pretty sure he's joking, and taking the "this is actually good news" meme to its natural crazy end.
    - drcode 12y ago
      No, I actually am pretty bullish on bitcoin at the moment, though who can say what will really happen.
      - saganus 12y ago
        That's kind of why I asked. Although I have no Bitcoin assets, if I did I was thinking that it could go either way. It could help legitimize the coin, for some definition of legitimize, or it could tank the price if people feel a sizable chunk of those coins are going to be sold at discount. It did tank ~10%, but maybe we will see a rally in the weeks to come?

Anyone care to take a guess as to how will this affect Bitcoin price?

by saganus 12y ago

Anyone care to take a guess as to how will this affect Bitcoin price?

It will only serve to legitimize bitcoin if anything causing a possible increase in price and won't directly affect the price through the sale.

davidgerard 12y ago
* price goes up * price goes down * price stays the same * anything else happens "THIS IS GREAT NEWS FOR BITCOIN!!"
- SilasX 12y ago
  More like: - Price stays flat: "Obviously, market cap is too low to support a legitimate currency." - Price goes up: "Obviously, it can't work because it's a deflationary currency." - Price goes down: "Obviously it a bubble that's popping."
- saraid216 12y ago
  The market was written without break statements. switch(news) { case 'price goes up': theskyisfalling(); case 'price goes down': thegroundisrising(); case 'price stays the same': quicklookoverthere(); default: celebrate(); }

deleted 12y ago

[deleted]

aqme28 12y ago

It's dropped about 10% since the news.

lucb1e 12y ago
That's not a guess.

drcode 12y ago

I think this is the best publicity imaginable. I can't see any reason why the price wouldn't go through the roof over the next month, but bitcoin prices are tough to predict.

tlrobinson 12y ago
Can you explain why?
- drcode 12y ago
  (1) All publicity is good publicity. (2) Having the US government treat bitcoin as an auctionable asset undercuts naysayers who say bitcoins are "tulips". (3) We have a precedent with the original seizure leading to a bitcoin rally. (4) The US government is now acting as a sort of "bitcoin exchange". This auction will give new actors a way to enter the bitcoin market without certain legal uncertainties.
- danielweber 12y ago
  If you compare to his other comment on this page, I'm pretty sure he's joking, and taking the "this is actually good news" meme to its natural crazy end.
  - drcode 12y ago
    No, I actually am pretty bullish on bitcoin at the moment, though who can say what will really happen.
    - saganus 12y ago
      That's kind of why I asked. Although I have no Bitcoin assets, if I did I was thinking that it could go either way. It could help legitimize the coin, for some definition of legitimize, or it could tank the price if people feel a sizable chunk of those coins are going to be sold at discount. It did tank ~10%, but maybe we will see a rally in the weeks to come?