Jihan Wu and his Bitcoin OTC trading desk

[Wind_FURY]

Shower thought. What if it was made to sell all of his and/or Bitmain's billions held in Bitcoin Cash to unsuspecting fiat whales.

[franky1]

1. if he done it OTC then it doesnt impact exchange prices
2. once sold. temporary price drama, social drama surpasses and another day begins.
3. bch has nothing to do with btc

[Nadziratel]

Shower thought. What if it was made to sell all of his and/or Bitmain's billions held in Bitcoin Cash to unsuspecting fiat whales.

3. bch has nothing to do with btc

I couldn't understand that what is related with BCH here? We even shouldn't talk about BCH here.

[Beerwizzard]

Fiat whales are not blindly buying every garbage that  someone is offering to them so the easiest and fastest way to sell those shitcoins would be to use exchange where normal users would buy it. And even if there will be enough volume to sell all this shit then the price would probably fall pretty low.
Most altcoins (and BCH too) probably would not survive this just because they exist only because different whales are shilling them.

[CryptoBry]

Shower thought. What if it was made to sell all of his and/or Bitmain's billions held in Bitcoin Cash to unsuspecting fiat whales.

Well, this can be a big "IF" question. But in case this can be done then it can greatly affect the price of BCH putting the coin on spiral down...but just like bitcoin days after that event things will be back to normal. However, in the first place why would he do that?

[dothebeats]

I don't think whales would be that much easy to fool and perhaps they have made their own researches prior to making their purchase decisions, not unless their financial advisers are somewhat controlled by Wu and that is the only scenario that that could work (lol). Anyhow, even if Wu dumps his assets on these unknowing whales, still nothing would happen (potentially) knowing that the dump occurred OTC and not on live exchanges. These whales would hold on to these assets and think that they have made the best decision ever which will keep the price stable until such time that they profited and a dump occurs.

[Wind_FURY]

1. if he done it OTC then it doesnt impact exchange prices

Yes, that's the whole purpose.

3. bch has nothing to do with btc

No one is saying there is. But doesn't Bitmain/Jihan Wu hold billions in Bitcoin Cash? I believe their IPO filings showed they did. Then maybe launching a OTC trading desk might have something more to do with selling their billions in Bitcoin Cash without crashing its exchange price.

[franky1]

No one is saying there is. But doesn't Bitmain/Jihan Wu hold billions in Bitcoin Cash? I believe their IPO filings showed they did. Then maybe launching a OTC trading desk might have something more to do with selling their billions in Bitcoin Cash without crashing its exchange price.

1. bitmain have been doing OTC for years... nothing new
2. billions of bch.. well anyone that had btc at august 2017 automatically gets bch.. nothing new. doesnt mean they love bch
3. your talking about an altcoin being exchanged for fiat. nothing new or impacting to btc

again just altcoin social drama.
moving on. just remember to towel off

P.S when OTC changes from making random/separate calls/facetimes individually.. to be a 'desk' of multiparty organised trades around one point its then called an exchange.

hint at the difference between OTC and exchange
"One unnamed source told the website that the crypto services startup, called Matrix, “will be the biggest over-the-counter (OTC) desk and asset manager overnight.”

Matrix’s OTC offering is likely to be boosted by its close ties to bitcoin (BTC) mining company, Bitmain. The new business will reportedly offer custody and lending services to the Beijing-based giant, receiving a liquid pool in return."

'asset manager..... custody.. liquid pool'  thats not 'OTC' thats 'exchange'

[Wind_FURY]

No one is saying there is. But doesn't Bitmain/Jihan Wu hold billions in Bitcoin Cash? I believe their IPO filings showed they did. Then maybe launching a OTC trading desk might have something more to do with selling their billions in Bitcoin Cash without crashing its exchange price.

1. bitmain have been doing OTC for years... nothing new

Where? When?

2. billions of bch.. well anyone that had btc at august 2017 automatically gets bch.. nothing new. doesnt mean they love bch

Bitmain did sell their mined Bitcoins to hodl Bitcoin Cash. Jihan Wu and Bitmain might be one the biggest holders of Bitcoin Cash.

Doesn't mean they love Bitcoin Cash? Hahaha. They are Bitcoin Cash!

3. your talking about an altcoin being exchanged for fiat. nothing new or impacting to btc

again just altcoin social drama.
moving on. just remember to towel off

Good, then we agree that Bitmain set up their new OTC trading desk called Matrix to sell their large reserve of Bitcoin Cash without impacting exchange prices. No social drama.

[Astvile]

Shower thought. What if it was made to sell all of his and/or Bitmain's billions held in Bitcoin Cash to unsuspecting fiat whales.

Well, this can be a big "IF" question. But in case this can be done then it can greatly affect the price of BCH putting the coin on spiral down...but just like bitcoin days after that event things will be back to normal. However, in the first place why would he do that?

But this IF has a high chance of happening,bitmain have been doing OTC transaction exchanging for more than a year,the price isnt affected at all.
He will do that maybe for some personal or planned reasons we just need to wait what will be his move.

[Genemind]

I think he will never do that because it will not benefit him or BCH either. He can do such things but it would surely not affect Bitcoin. BTC is too resistant to this kind of drama and strategy but I know that Jihan Wu knows the possible consequences if he'll do this.

[franky1]

Jihan Wu and Bitmain might be one the biggest holders of Bitcoin Cash.

nope early adopters with UTXO's that still exist prior to 2017 are the biggest bag holders of bch
doesnt mean they support it

also pidgeon holing people without actually talking to them is something your buddies do all the time.
you do know bitmain also make hardware for btc and run pools for btc.

the 2017 drama was the btc network dividing the community using mandatory means. it was not a voluntary decision to create bch

.. but that requires you yet again having to be told to look at code and blockchain statistics and to ignore the echo rhetoric of your friends. which after multiple times you have refused to do. so no point reminding you yet again

anyways the "matrix trading desk" sounds more exchangy than OTCy. and the 'matrix trading desk' is not even released yet, so try not to confuse that with the private trades bitmain has been doing since 2014
as for the when who where.. the whole point of OTC is anywhere anytime anyhow anyone.
as soon as 'custodian', 'platform' get involved it definitely sounds like the rumour of bitmain opening a new service will be an exchange not otc

[squatter]

Good, then we agree that Bitmain set up their new OTC trading desk called Matrix to sell their large reserve of Bitcoin Cash without impacting exchange prices. No social drama.

If Bitmain did want to unload its BCH holdings, this would be the smartest way to go about it. They can leverage their brand, market position and connections to help create an OTC market which probably barely exists yet. The only notable OTC counter I can find for BCH is itBit. My guess is that volume there is paltry.

They obviously wouldn't need to do this to liquidate bitcoins OTC. BCH is another story. So yes, I suppose it's pretty obvious this is about selling BCH.

[franky1]

The only notable OTC counter I can find for BCH is itBit.
They obviously wouldn't need to do this to liquidate bitcoins OTC. BCH is another story. So yes, I suppose it's pretty obvious this is about selling BCH.

"Over-the-counter (OTC) or off-exchange trading is done directly between two parties, without the supervision of an exchange. "

dont think of OTC as some website people visit that brings people together. think of OTC as a contact list/phonebook list that bitmain has of interested investors happy to buy at good deals whenever they get a skype/phone call.

EG
difference between
you using a website platform to do your own trading (exchange)
you getting a call from your personal finance broker to offer you a trade over the phone(OTC)

[Wind_FURY]

Jihan Wu and Bitmain might be one the biggest holders of Bitcoin Cash.

nope early adopters with UTXO's that still exist prior to 2017 are the biggest bag holders of bch
doesnt mean they support it

That's true, but Bitmain holds a lot that they can't simply sell in the exchanges without impacting the price.

also pidgeon holing people without actually talking to them is something your buddies do all the time.
you do know bitmain also make hardware for btc and run pools for btc.

the 2017 drama was the btc network dividing the community using mandatory means. it was not a voluntary decision to create bch

Shower thought. Roger Ver was scammed into supporting it. I believe it's time for him to come back to Bitcoin.

.. but that requires you yet again having to be told to look at code and blockchain statistics and to ignore the echo rhetoric of your friends. which after multiple times you have refused to do. so no point reminding you yet again

anyways the "matrix trading desk" sounds more exchangy than OTCy. and the 'matrix trading desk' is not even released yet, so try not to confuse that with the private trades bitmain has been doing since 2014
as for the when who where.. the whole point of OTC is anywhere anytime anyhow anyone.
as soon as 'custodian', 'platform' get involved it definitely sounds like the rumour of bitmain opening a new service will be an exchange not otc

Once available, the Matrix might be where they can dump their excess Bitcoin Cash baggage, something that they cannot presently do OTC.