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mjr_: silk road (pretend they are taking the money) is a net buyer of bitcoins
mjr_: true...you can look it at it that way
mjr_: the way i try to look at it, is "is this company a net buyer or a net seller? if so, do they hold coins, or get rid of them immediately"
mjr_: yeah, you could say that they are a dumper as well
mjr_: which is why large institutions should be using futures
mjr_: of course price drops
mjr_: and the exchanges are dominated by large dumpers
mjr_: at least retail (omg, what is this bitcoin stuff, i wanna buy)
mjr_: but i think as buyers leave exchanges
mjr_: that would partially lend itself to a hedging strategy, which would require either futures or options...
mjr_: instead of just dumping
mjr_: they could market mke
mjr_: i mean, it would be in their interest to do so
mjr_: they should take their role, as a central flow of bitcoin and use it to stabilize
mjr_: the stronger the downward pressure
mjr_: so the more people start "accepting" bitcoin
mjr_: they are just sellers who always do market sells
mjr_: not in a sinister way
mjr_: anyway, my theory is that bitpay, coinbase, and other payment processors are the ones lowering the price
mjr_: Namworld: do you hold s.dice? curious\
mjr_: i mean, do they attempt to use logic at all?
mjr_: yeah, i had it when it was .03% a day
mjr_: can anyone explain to me how people thought asics lowered the price of btc?
mjr_: which does not lay the blame at the feet of asics
mjr_: I have a new theory by the way, on what has been going on with prices
mjr_: its also nice though, since you have redeem on demand, you don't really have to, as you can just sell and everyone knows what its worth
mjr_: but not sure, its been a while
mjr_: back in the day i think it was 2X
mjr_: AND you have collateral i believe
mjr_: 11% a year is fine i think
mjr_: I really like your bond Namworld
mjr_: its a synthetic processing power
mjr_: if only i worked in the M&A arm of a bitcoin investment bank
mjr_: i spent a lot of time hanging out on just-dice yesterday
mjr_: is AM at 10btc yet?
mjrIII: wait wtf is going on in the forums?
mjrIII: i hate that forum, but fine i will go there and look
mjrIII: that is what i was thinking
mjrIII: would you buy at this price?
mjrIII: anyway, what is P/E for AM now?
mjrIII: i noticed that you call ThickAsThieves TAT, and he calls you Goat
mjrIII: where does goat come from btw
mjrIII: i understand, but geez
mjrIII: um...that is a little sadder
mjrIII: you weren't trying hard enough!!
mjrIII: i bought AM at .7 i think
mjrIII: but is it worth 4.2 btc for that revenue stream
mjrIII: yeah, they are printing money
mjrIII: i'm more curious about the massive hashing power that will result from the avalon chips
mjrIII: does the drop in price affect their profit? (when they have to convert for electricity)
mjrIII: given their expected returns
mjrIII: because i wanted to figure out the npv of the future revenue stream
mjrIII: i thought they were trying for a specific percentage of the total
mjrIII: that is where i got that number from
mjrIII: do they have that now?
mjrIII: percent, they should get 10% of all coins minted right?
mjrIII: so AM, if i remember correctly, plans on having 25% of the hashing power of the network, correct?
mjrIII: how do you plan on doing the pcb stuff
mjrIII: jurov: i really think an insurance service would be very helpful
mjrIII: i set up two avalons, yifu made a great product IMO
mjrIII: that is a good question
mjrIII: so, its just a matter of scale
mjrIII: justin timberlake doesn't though right?
mjrIII: and that is a normal day
mjrIII: people's accounts that swing from up a million to down a million