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Title: What's the logic behind this? Post by: Blind on June 08, 2012, 08:11:51 PM There is an order on MtGox for nearly 237k bitcoins @ $1.15, sitting there for last 3 months, and I wonder what purpose it serves. Only chance for it being filled is catastrophic Bitcoin failure making coins and this investment worthless, or (very unlikely) flash crash, as before when MtGox got hacked and forced price down to nearly zero. So there is ~272k USD sitting there, rotting away in anticipation of a chance one in a lifetime to score big. If so, why $1.15? Go for $1 and get 15% extra free =) Hell, if they had invested that in Pirate then, they would double that by now, lol. Or is it MtGox itself fooling around?
https://i.imgur.com/ytvKK.png Title: Re: What's the logic behind this? Post by: Fuzzy on June 08, 2012, 08:16:56 PM They're probably hoping for another hack. Like with the Mt Gox debacle, every buy order on the books was filled. (http://www.youtube.com/watch?v=T1X6qQt9ONg)
That's my guess. Title: Re: What's the logic behind this? Post by: notme on June 08, 2012, 09:49:15 PM Or maybe it's sitting there waiting for the right moment to spike the price. Why not park it way down on the order book rather then just letting it sit in your account?
Title: Re: What's the logic behind this? Post by: proudhon on June 08, 2012, 10:09:44 PM Oh, sorry. I forgot I put that there. ;D
Title: Re: What's the logic behind this? Post by: ElectricMucus on June 09, 2012, 12:54:43 PM It was put there so you look at it. Creates support even when it won't be filled.
Title: Re: What's the logic behind this? Post by: arklan on June 10, 2012, 03:59:38 PM They're probably hoping for another hack. Like with the Mt Gox debacle, every buy order on the books was filled. (http://www.youtube.com/watch?v=T1X6qQt9ONg) That's my guess. two things: fascinating vid and what's the software and where do i get it? Title: Re: What's the logic behind this? Post by: klaus on June 10, 2012, 06:43:56 PM two things: fascinating vid and what's the software and where do i get it? https://bitcointalk.org/index.php?topic=6019.0 Title: Re: What's the logic behind this? Post by: deepceleron on June 10, 2012, 06:48:29 PM The day that Satoshi dumps 500,000BTC, you wouldn't want to miss out on the cheap Bitcoins by not having an order in, would you?
Title: Re: What's the logic behind this? Post by: Yuhfhrh on June 11, 2012, 01:05:11 AM But isnt all that money just sitting in a mt gox account then? Shouldnt they invest all that money into something instead?
Title: Re: What's the logic behind this? Post by: da2ce7 on June 11, 2012, 01:40:28 AM But isnt all that money just sitting in a mt gox account then? Shouldnt they invest all that money into something instead? There is worse thing you can do than holding USD atm.... Title: Re: What's the logic behind this? Post by: Yuhfhrh on June 11, 2012, 02:22:02 AM Leaving it in a low interest bank account would seem better to me. Then again if there is a huge bitcoin sell-off, 1.15 a bitcoin would be a good deal considering bitcoin still survives.
Title: Re: What's the logic behind this? Post by: notme on June 11, 2012, 02:27:40 AM Leaving it in a low interest bank account would seem better to me. Then again if there is a huge bitcoin sell-off, 1.15 a bitcoin would be a good deal considering bitcoin still survives. Can you point me to a bank that will offer me an account yielding more than half a percent per year? Yeah, didn't think so. Title: Re: What's the logic behind this? Post by: Yuhfhrh on June 11, 2012, 02:46:12 AM Leaving it in a low interest bank account would seem better to me. Then again if there is a huge bitcoin sell-off, 1.15 a bitcoin would be a good deal considering bitcoin still survives. Can you point me to a bank that will offer me an account yielding more than half a percent per year? Yeah, didn't think so. Making $1,250 a year seems a lot better than potential mt gox withdrawal issues to me. |
