Bitcoin Forum

An "undisclosed" amount  :D

If you were a multi-billionaire, how much bitcoin would you acquire?

Me? I would secure $500,000,000 worth, that's 1,126,000 BTC  8)


http://www.scmp.com/news/hong-kong/article/1512113/li-ka-shing-boosts-bitcoin-investments-amid-currency-crackdown-china

I would be sure to advertise that fact on a forum as well...

Not really. Perhaps if you're the only big player going into bitcoin and you have 1-12 month time to buy. Otherwise the first 50 millions would drive the price to the moon. If you were in a hurry, at least.

So he didn't actually buy bitcoins just invested in bitpay...

I would find it hard to believe, that he doesn't have at least 1BTC. The other BitPay investors also probably hold personal BTC. And by that rationale, being the biggest dawg in Asia, reckons he's got a few BTC  :D

True, that'll be one hell of a Wall on his exchange  ;D

Any big investor would certainly keep their investment lowkey!

Investing in BitPay is investing in Bitcoin.

Li Ka-shing  ;D ;D ;D ;D

Yeah, good point.

Here's his profile on Wiki: http://en.wikipedia.org/wiki/Li_Ka-shing

This could be great for the Bitcoin economy. Thus far, non of the investors have fully integrated into their Commercial enterprise groups/subsidiaries. Perhaps his investment was strategic, for future BTC integration?

Agreed, I certainly would. From time to time, I would log-in to my wallet just to marvel at my 5-7 figure BTC  8)

So Li Ka-shing does not think the way Warren Buffett does !!! ;)

He is a bitcoin holder. He donates to Seans Outpost quite frequently. His support of bitcoin is a great thing for the crypto ecosystem.

Cheers for the info Ron, Jason King does noble work for sure.

Here's a lengthy but cool interview he did last week:

http://www.youtube.com/watch?v=JI7ZtX43bEY

Agreed, Sir Li Ka-shing on board, is great for crypto ecosystem. Would like to see him integrate into his many businesses though.

by investing into bitpay. you will see that instead of bitpay selling their coins on an exchange. they will use the investors fiat and give the investor bitcoin

thus you wont see as much sell orders on the exchanges, which will a rise in pirce, but a slower rise whilst merchants small tx's are processed, compared to a whale biting on the sale orders in under 5 minutes.

i would try it on local bitcoins  :P

Yeah, I am a huge fan of Sean's Outpost. My meager donations probably don't make much of a dent but a lot of small donations is as good as 1 large one.

 

He, among other investors, invested in bitpay. He is not buying bitcoin directly. It is a confidence boost in bitcoin, but do not expect bitcoin price to soar because of this.

The us government could definately cripple the bitcoin price if they were to flood the market with all the siezed coins they have

Interesting point Frank, that would be the way to go.

Several Bitcoiners on here reckon if he did execute a massive buy order on an exchange, that the Bitcoin price index would rise?

This is hypothetically logical, but would it be sustainable?

Hard to say what will promote Bitcoins next surge past $1000 barrier. Personally I think it will be some kind of new innovation/service that the Bitcoin protocol facilitates - A real Game Changer for Bitcoin (don't think this has been invented yet).

Some folks are optimistic that Winklevoss EFT and Wall Street will be this Game Changer, maybe? But I think it'll be something else, not currently conceived/implemented.

On that note, what do you think about the Coinprism & Colouring Bitcoin's concept?

Yes they could. It would be a great opportunity to grab some more before things normalize again. The urge to panic when the market sneezes is part of the reason for the volatility we have seen.  

Good man, made a donation last year to Megan and Davi's BitcoinNotBombs. Will start sending some funds over to Jason's charity. Every little helps, all adds up  8)

He could also slowly buy bitcoin, get a contract for the main players like bitpay, and coinbase to buy sold coins, such as if someone were to sell a product instead of bitpay selling those coins on an exchange, sell to this guy. I have also seen many threads selling high amount of coin, cash only. One was for 400k in coin alone. Cant remember the amount of coin like 10k maybe.

hardcore lol

ain't gonna happen

Agreed  ;D

This guy lives on the same planet, but different world

So he didn't buy at last?

someone knows about similar events that some rich guy invest big amount on BTC? and if so what was the influence on the value?

been mentioned before, and i think they could auction off the coins and it wouldn't affect the price that much.

...

Li Ka-Shing did not get so rich by being a dummy.  It is worthwhile to watch what the extremely rich do (as opposed to what they say).  I believe Li Ka-Shing is diversfying out of China and Hong Kong.  A big BTC position might be very smart.

* * *

Another great example was Warren Buffett buying the BSNF railroad a couple of years ago or so.  He called it "a bet on America", but, Jim Rickards characterized it better as a hard asset.  A hard asset that transports other hard assets...  Buffett is not stupid either.

Bitcoin, in a sense, is a hard asset as well.

Apparently, Li Ka-shing has been in the Bitcoin game at least since December 2013. I personally reckon he's bought more since then,  considering BTC's current price and the fact a sum of say $50,000,000 is nothing to him.

Wouldn't surprise me if he ends up donating 75% of his BTC profits to charity. The guy is immensely wealthy irrespective of Bitcoin.

In an article by South China Morning Post, the economist makes an interesting investment statement, which makes sense. However, not available to the average Joe:

"Investors looking for a way to make money from the global bitcoin bonanza should steer clear of the pseudo currency itself and instead follow Li Ka-shing's lead: buy in to the firms providing the services that bitcoin holders use.

That's according to John Greenwood, the London-based chief economist of Invesco who designed Hong Kong's pegged currency regime.

"Just like investors in days gone by made more money out of selling shovels and picks to gold-diggers than anyone ever made out of the gold mine, he is investing in the peripheral activity that bitcoin has generated," Greenwood said."

+1 very wise

I can remember the controversy during the Berkshire Hathaway/BSNF acquisition. Interesting point about controlling asset logistics!

I hope Li Ka-Shing and his financial advisers are considering implementing Bitcoin in exchange of services/goods for his multinational commercial enterprises.
 

Every time I read his name I become more and more certain that he's as real a person as Satoshi Nakamoto.

So how big change like this could effect us, the little Bitcoiners?

i don't know what to think when someone says something like that anymore.. billionaires tend to be smart, but i've seen some really dumb ones who are ignorant (see Donald Sterling). then again, i don't know much about Li Ka-Shing and how he got his money.

it's kind of funny because Ka-Shing is how a cash register sounds.

Whatever happens outside of exchanges affects the exchange rate, just only slightly delayed.

It does not change supply and demand dynamics. 

Has anyone ever researched this guy? https://en.wikipedia.org/wiki/Li_Ka-shing
He is quite old, at the age of 85 I would start spending this money! Look at this Net worth: US$31 billion (2012). If he would drop only 1B into Bitcoin..  :D

$32 BN.. you can't really spend all of that money, unless maybe you bought islands or countries. btw, i think the king of thailand is probably a close 2nd. i think he's worth about $30 BN himself.

Good question brother   ;)   - I think most of us hope that Li Ka-shing efforts and others will help Bitcoin corporate mass adoption.

With this, we hope the Bitcoin protocol will be far more valuable (price / as a technology / as an asset)

China:

2000 BC to 1950ish AD - Millions of People think their emperor is a god

1950ish-2014 - Billions of People think the richest guys real name is Ka-shing

you know, he's chinese.. the name sure does look like it fits. as previously mentioned, it's kind of ironic that his name is "ka.. shing," since that's the phonetic sound that we consider as "money maker." it would be like charlie sheen changing his name to "charlie hookersandcoke"

Then Warren Buffet donated to certain politicians and uses the PACs he funds to oppose the keystone pipeline. Guess how the shipments of that oil are being transported right now?

Crony capitalism at it's finest.  

We need him and people like him to adopt Bitcoin, then there is no limit for us. I guess that we just have to be really patient and that everything will come in time. :)

This is a great show of confidence in Bitcoin and our network/system. It's funny, I was just thinking after looking at the article that he kind of looks like an Asian Warren Buffet (the guy on the left that is), which he is the opposite of due to his faith in BTC. I think this is a great long-term investment for him, and will probably benefit his other BTC investments in the long-term. I'm sure he's got other BTC investments or at least is a holder of some in a secure wallet.

The one thing I Don't like from the article is this:
"A US government report published on Monday said if Beijing successfully prevents Chinese users from accessing bitcoin, price declines would continue and threaten its legitimacy."
I don't like thinking about the US gov trying to squash Bitcoin. Hopefully that would just make it more popular though.

Depend on the multi-billions themselves, if it's one or two 10,000 would do and if in the xx category I won't take less than 30,000.

Although Li Ka-shing is not directly investing in Bitcoin, I believe that after just two or three years, he will see his investment growing to hundreds of times the original amount. Right now, Bitpay is valued at just $160 million. I think that within 2-3 years, it will reach the same market capitalization as Paypal is having right now (around $10-20 billion, that is an increase in valuation by ~100 times).

To those who keeps repeating "person X is not investing in bitcoin directly"... what makes you so sure?

I mean, if I invested in bitcoin infrastructure, you bet your poor ass I would have more than a few bitcoins trailing me, but I wouldn't announce it to the world to spike the prices up as I'm buying it. Makes sense?

I doubt you would "log-in" to your wallet. You'd likely have that stash better secured than in an online wallet.

I am somewhat sure, because looking at the exchange data for the last few weeks, I am yet to witness any bulk buying deals. He may have bought a few hundred coins, but he is not buying any five-figure or six-figure number of coins.

Somewhat sure? Now you're starting to second-guess yourself.

Looking at exchange data for bulk-buying deals is akin looking at the sky for fish... which is what you're doing.

Why would any person with half-a-brain put that kind of money through an exchange post-EmptyGox when they can broker the deal directly with discretion? Why?

The reason you don't witness bulk buying deals is because they don't want you to know it... Why would places like BitPay or even miners, disclose their client info? Hint: it would be financial suicide.

Ka-Shing, as rich as he is, doesn't want anyone to know that he has thousands of bitcoins--if he has them. Why? Hack target. There is no good reason for Branson, Miller, and Ka-Shing to divulge how much is in their VC wallet. Most whales don't broadcast how much coins they bought or where they got it from, for security reasons alone.

Ebay/Paypal constantly monitor market trends/browser keywords/financial news. I'm sure Bitcoin has been on their radar since 2010.

Just my opinion, but their announcement today regarding consideration of Bitcoin integration is no coincidence with Bitpay news.

Lots of speculation as to how their model would work;

Will it follow their 2013 granted patent: http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130173416&OS=20130173416&RS=20130173416 or modified version?

For integration to be viable, would they need to open another Paypal division that essentially follows the Coinbase model however with the ability to link international bank accounts?

What's the chances they move fast on this/full Bitcoin integration by 3/4Qrt 2014?

I don't have the answers  :)  but certainly interested on how this develops. Honestly, I wouldn't be surprised if we don't hear anything official for another 3+ months.

Multi-billions is a lot of money to play around with. I would probably go with half a billion in Bitcoin. I think that is a decent amount and probably some would be dispersed into Mintcoin. It's interesting as his views are that China is friendly towards Bitcoin.

well i would have invested 21million in buying btcs.

This. Him disclosing the holdings would affect the market. I'd assume that if he were buying a lot of Bitcoin, he would do it slowly and meticulously so as to not boost the price up while buying in.

That depends. Some people view Bitcoin as an investment, while others view it as a currency. Li Ka Shing belongs to the latter category. No one stashes up a currency. Intelligent people would rather invest in currency-related services. That is just what Li Ka Shing did.

Actually, just having north of $800,000,000 would be a good amount to use on Bitcoin. It could buy out a lot of Bitcoin, but it wouldn't be able to buy out everything that is available now. I would probably use a large amount and get Bitcoin and use the rest on an ASIC farm of sorts.

It'd be better to invest in an ASIC creation company rather than mining itself. It's much more profitable, as we've seen.

Who is Li Ka Shing? and it doesnt matter where and how you invest, its just that your investment shud bring you profits and profits are the thing that make people intelligent

Definitely. What wait for 12 to 18 months to get your ASICs (in some cases you may never receive them), when you can build them with your own money? Much better option.

Not to mention you can mine with them until they are no longer profitable and then sell them as "new." Just like the other ASIC companies!

Both Avalon and BFL were famous for that. Feels bad for the poor customers.

http://www.coindesk.com/avalon-accused-of-mining-with-customer-asics/

Those were exactly who I had in mind when I made that statement. I'm sure other companies do it as well, though, and just aren't as transparent (or, rather, haven't gotten caught). I mean think about it. You have an ASIC that can earn you 2 BTC a day right now (or $900). Are you really going to sell it for just $2k and ship it right now? No. You'll delay it until it's no longer as profitable and then ship it. Otherwise you're throwing away money, and nobody is the wiser anyways because it's become the norm to delay over and over.

These people must have made millions of USD by mining on their customers ASICs. Avalon claims to have sold mining equipment worth over 9,000 TH/s. Even if we imagine 6 months of mining, they must have got at least BTC90,000. That is equal to $40,500,000 at current exchange rates.

Plus when you're done mining, you still get 100% of the money you were supposed to get anyways (which puts you in the profit as it is) since you let the hardware go and just claim there was a delay. The buyers then end up with hardware that won't ROI and the company gets all the BTC they mined PLUS they get more money than the hardware is worth.

That is the "great" and "fair" distribution model on which bitcoin is based and that gives the poor people the possibility to get their hands on bitcoin without having to enrich some greedy early adopter.

What a joke!

NXT is the future!

what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?

it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.

With the huge investors rushing in, when will the prices rise again? I am really disliking the current state of stagnating prices across the boards. Anyone else?

5 years is a long time for Bitcoin and the cryptoworld. I am really hoping for $10,000 to $40,000. It would be great to be something like $50,000, a nice even number like that.

Well even if new btc accepting services come up, i dont think that even after 10% inflation the btc will rise above 3000 in 5years

More money is flowing in to the system. In 3 years, the generation rate of BTC will halve. Both of these together should increase the price as well.

The climate is unstable and people are losing trust in fiat. You never know what could happen. Even a run up to $3,000 would make me kinda happy, not entirely though.

Well, I dont think anyone is loosing trust in fiat. My government is changing and so will its policies, and today my currency is on 11month high, certainly i havnt lost the trust on fiat.

Yeah, I think the idea that people are losing trust in fiat is a huge overstatement. We use fiat for pretty much everything. Unless there was a massive change in cryptos that made them mainstream, fiat will still rule.

Indications moving north this morning  8)  hopefully will continue!

Agree with your previous posts $800,000,000 would be a decent position in Bitcoin.

At current market that's 1,751,000BTC ....... most agreeable  :)

If Bitcoin reached $2000, Li Ka-shing will hold $3,502,000,000 value