Some hedge fund could have thrown close to $30 million at these coins to ensure they won and not even bat an eye.
Hell, they could have thrown 200 million at these coins - thats $7000 per coin right there! 200m is probably small if you are talking wall street money. Wall Street is all about TO DA MOON! They're hedging their dirty fiat. USD is gonna collapse anyways because crooked banksters printing money. Every successful investor knows knows you don't buy low sell high. You buy high and sell higher. That's how greater fool theory works. Didn't you learn anything in school? |
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Only 1 million shares. Small float = easy manipulation
Pump and dump time
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If there was a crash like 2008. I'd buy stocks hand over fist. Easy money.
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Thats not historically correct. Bank runs were more commonplace before creation of the Fed.
Keynes was less about monetary policies and more about fiscal policies. His breakthrough was "aggregate demand". It wasnt until Friedman that we have "monetarism"
I dont believe Govt cause recessions or inflations. Economies respond to market forces. Govt try to influence economies using policy and sometimes it helps and sometimes it makes things worse or does nothing.
Bitcoin is Satoshis influence coming from Rothbard. Who, IMO is a not to be taken seriously as an economist.
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Whatever you say, Mr. DUMBASS!
The price went over market. Accept it.
You don't have 100 BTC, and you never will have the means to acquire them with your inferior business acumen.
Now get off my thread, fatty.
Just cause someone is dumb enough to overpay the market price doesn't negate the logic that its dumb to overpay. I don't need 100btcs to sell you for 150. You send me 150 and I send 100 in return. Try using logic instead of ad hominems you twerp. Thats why stupid it is to overpay the market price |
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Buy, Buy, Buy ! 650 is bargain, snip, gift, mullock, garbage...  If there are options on this it'll get shorted big time check out bitfinex I have. But w options its a lot easier to build risk limited positions And I just want to do it from my TDA account |
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Pick any stock. Overpay by any premium you want. Now pat yourself on the back for being an astute investor.
This is how idiotic you sound. If any hedge fund does the same they equally stupid.
Wow, quite the analogy! Keep showing those cards. Your lack of....well, everything is shining bright! You should ask for a refund for your college tuition because you obviously gained nothing. Tsk tsk. Using the same ad hominem twice because your logic is failing you Come on man, I know you can troll better than that. I've got 100 bitcoins you can buy for 150 bitcoins. Better yet make it 200 even. According to your logic the more premium is paid the more its worth. |
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Keynes only prescribed that for recessions to avoid spiral into depression. If inflation was rampant he would suggest raising interest rates. And taking money out of circulation
Keynesian believe in gov't intervention.
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Buy, Buy, Buy ! 650 is bargain, snip, gift, mullock, garbage... If there are options on this it'll get shorted big time |
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https://www.youtube.com/watch?v=tMe3WDmxBEI&feature=youtube_gdata_playerIt's so obvious you've never been involved in any sort of business, ever. Nobody ever pays a premium? What are you, 17? Yes, the hedge fund manager that just spent $30 Million is stupid. You should call him up and set him straight with your wisdom derived by a bachelors degree in business administration from Who Gives A Fuck University. Pick any stock. Overpay by any premium you want. Now pat yourself on the back for being an astute investor. This is how idiotic you sound. If any hedge fund does the same they equally stupid. |
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So many wrong economic theories here.
OP I suggest you take a coursera course instead of asking here about economics
These guys probably never even read an economics book in their life.
I'll give you a hint - inflation has nothing to do with Keynes
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Does anyone here really think people that are managing $100s of millions, or even billions, care about overpaying by $12 million?
Especially considering the PRESS that this would garner?
Imagine the headline, "SILK ROAD BITCOIN SELLS FOR DOUBLE MARKET VALUE AT USMS AUCTION" It would make every single major newspaper, no doubt.
They'd recoup their investment in a day.
As much as people here say, "SMART MONEY" doesn't over pay, that's just bullshit.
Large investor firms don't give a shit about counting pennies. In the end, they are playing with other people's money. They aren't going to nickle and dime.
$30,000,000, or something close to it, was the price paid. I'm going to bump this thread when it comes out.
After all, wtf do guys like Richard Branson care about that $12,000,000 more? The sheer novelty is worth more than that.
You're a dumbass. The point is to buy low and sell high. Not over pay and wait for price to go above your buying price If someone did buy above market price they're equally dumb as you |
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I just took a look at ICBIT. A future (BUU4) is trading for $725 and spot price bitcoin on coin base is $645? Seriously, how does that make sense? $80 difference??? 12% premium. That is just BANANAS!
Buy bit coins and sell the futures if someone is dumb enough to buy it
Is it last transaction price? Do they have market maker there making the market? I don't know. Never even heard about this ICBIT until the doctor brought it up. Seems very dodgy though. I don't think theres a market maker because they give 80% discount on fees to provide liquidity i.e. making markets. There's no liquidity and the price is all over the place. https://icbit.se/WebTrade/Trading.aspxBut seriously how can you lose money? Buy some bit coins for $645 and sell the same qty in a futures contract for $725. You collect 12% premium. If the price drops at expiry you make a money + 12%. If it goes over $725 you give the buyer your bit coins. You still kept the 12% premium Unless this place is a Mt Gox and you can't get you're money out To the DOCTOR..You said you used this service before. What is your feedback? You said you didn't recommend but why you bring it up in the first place? |
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Ok, so im reading here and a few people keep coming and and saying how we were dumb for thinking they would go under market value.. But i don't understand that. I guess i'm too small minded to understand the concept of not getting a discount when buying in bulk... As i thought that was the whole point of buying bulk? Is there something different about buying bulk BTC's that i'm missing? I understand it would take awhile to get that many coins through exchanges, but even then, i can't see them paying that much over market price when they could just create a script/bot to buy coins at much better prices from many different exchanges. I just don't understand.
Because bit coiners don't understand economics. LOL I saw a post here claiming a bid for $900. LOL WUT? No smart money ever became rich from overpaying. Only dumb money overpay "bit coiners" "WUT" Geniuses like you make me hard. You wanna fuck? You're the bottom. I only let guys smarter than me top me. Get the Boy Butter, faggot. Sure twink I'll fuck you. You like bears? Bring your mom along and I'll fuck her too |
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If you buy in bulk from a factory, it can always be matched by increased production, so the price is cheap because it reduces handelling/logistics costs. Bitcoin is being produced at a fairly inflexible rate, so if people buy at a rate lower than miners want to sell, prices go down, and if people want to buy bitcoin faster than that, prices rise. This is a familiar pattern across all stock markets (i.e. the number of shares in a company is usually fixed, so buying too many, too fast drives the price up, such as during takeover bids)
Bitcoin is purely speculative and can't be compared to products. Look at the other side. If someone wanted to dump 30K coins on the market would the market pay more or less than current price? |
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Ok, so im reading here and a few people keep coming and and saying how we were dumb for thinking they would go under market value.. But i don't understand that. I guess i'm too small minded to understand the concept of not getting a discount when buying in bulk... As i thought that was the whole point of buying bulk? Is there something different about buying bulk BTC's that i'm missing? I understand it would take awhile to get that many coins through exchanges, but even then, i can't see them paying that much over market price when they could just create a script/bot to buy coins at much better prices from many different exchanges. I just don't understand.
Because bit coiners don't understand economics. LOL I saw a post here claiming a bid for $900. LOL WUT? No smart money ever became rich from overpaying. Only dumb money overpay |
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I just took a look at ICBIT. A future (BUU4) is trading for $725 and spot price bitcoin on coin base is $645? Seriously, how does that make sense? $80 difference??? 12% premium. That is just BANANAS!
Buy bit coins and sell the futures if someone is dumb enough to buy it
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So you want to see people with faith in something lose their money, this is funny to you?
You are a sad, sad man.
Well those people are smug and annoying. So yes. Lol |
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@Giancarlo, BitBits
Maybe there is some very basic misunderstanding going on in this discussion... If I understood Blitz' post correctly, the following summary is the essence of the problem:
Bitfinex traders are kinda retarded for not winding down their longs, despite the price going counter to their position.
That claim itself is debatable (and you can very much disagree with Blitz on this), but it is not (mainly) an attack on Bitfinex, so there's no need to argue against his point from the angle of "trying to protect the exchange's reputation".
Can we agree on this part?
P.S. I traded on finex myself, and will probably do so again in the future. I have nothing against the exchange, and don't (for example) buy the front running accusations made in another thread.
Traders tend to close winning positions too early and losing position too late. This is human nature and has been documented to be the case on every market ( stocks, bonds, currencies etc), not only in the bitcoin world. I read various articles about the fact that most traders trim their winners and let their losers run, which is exactly the opposite of what one should do. The worst enemy of each trader is his/her instinct. On top of that I believe we all agree with the fact that we are long overdue another big jump and judging from the type of customers BFX welcomes onboard every day ( all sort of deep pocketed financial institutions) it is going to happen soon. Last year this time we verified young miners that wanted to sell some bitcoins to go on holidays, this year is the grey haired wall street guy that wants to buy bitcoins for millions of dollars.Having said that you also probably agree with me that " The Bitfinex Credit Bubble cannot end well" is some kind of a non neutral title. And you probably also agree with me that wise people should try to behave wisely as they are taken into high consideration by the community. The bitcoin world, as every other financial world is based on trust and trust must be defended against discriminatory attacks. We do monitor our traders constantly and constantly come up with more and more sophisticated solutions to avoid crashes. They are smart people and they do nothing wrong in believing this wonderful thing called bitcoin will change the world and the life of each of us. That's my opinion. Having said that I think I will go for a swim, need to do some sport. Have a good weekend Giancarlo Bitfinex Team This is one of my favorite things about Rafael. During the bubble last year, I emailed and asked how much new fiat was entering the exchanges. He actually gave me an honest answer. I knew right away the bubble wasn't even close to stopping. This is the kind of information that is priceless. And its nice that Bitfinex provides this type of personalized and honest (even if not politically correct) feedback and customer service. Thats why they have been my exchange of choice and will continue to be. An exchange giving out insider info and pumping? Gotta make you wonder |
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Wall Street is a pretty big industry. Theres no way any mutual funds are going to get into bitcoin at the moment. Maybe some small hedge funds. But even then its doubtful
Bitcoin is like a penny stick at the moment
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