WiiD (OP)
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April 28, 2015, 04:02:47 PM |
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If that is'nt bullish, I don't know what it need else.
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Morecoin Freeman
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April 28, 2015, 04:09:09 PM |
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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.
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Ask the stranger he knows who you really are.
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WiiD (OP)
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April 28, 2015, 04:10:23 PM |
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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.
I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing.
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gentlemand
Legendary
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Activity: 2590
Merit: 3014
Welt Am Draht
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April 28, 2015, 04:15:20 PM |
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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.
A fair few are probably compleletey prohibited from buying on such a sketchy and shaky platform. It looks kinda fancy on the surface but it could vapourise at any second taking everything with it.
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Biodom
Legendary
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Activity: 3906
Merit: 4382
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April 28, 2015, 04:18:33 PM |
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Come on, all these bids are simply faking by brokers. They do it all the time. Try to hit a large bid on nasdaq and it disappears after giving you 100 shares.
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Morecoin Freeman
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April 28, 2015, 04:26:46 PM |
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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.
I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing. Yea I think so too. Still that is a lot of money just for security and convenience. Anyone know when this trading will go live?
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Ask the stranger he knows who you really are.
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bassclef
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April 28, 2015, 04:34:18 PM |
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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.
I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing. These guys want the paper Bitcoin derivitave which is what GBTC is. They want to make money by being liquidity providers of this paper by selling it to their existing customers and any new investors who desire safe (ie regulated) Bitcoin price exposure in their investment portfolios. But they need to buy it first which is what we are seeing here.
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phoenix1
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April 28, 2015, 04:52:20 PM Last edit: April 28, 2015, 05:05:34 PM by phoenix1 |
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If it's genuine, sure, it's bullish
After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment. Could both events be linked? And both an attempt to trigger a short squeeze without spending too much money? Too cynical? Or just wary?!
Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!
If it's a co-ordinated pump there is certainly serious intent behind it.
Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!
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"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)
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Biodom
Legendary
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Activity: 3906
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April 28, 2015, 05:11:58 PM |
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If it's genuine, sure, it's bullish
After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment. Could both events be linked? And both an attempt to trigger a short squeeze? Too cynical? Or just wary?!
Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!
If it's a co-ordinated pump there is certainly serious intent behind it.
Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!
my read is the owners of bitcoin associated with GBTC are buying bitcoin on exchanges for $215-226 while preparing to dispose of it on OTC. As a result, they will have the same # of bitcoins and lock in a tax loss. Since bitcoin and GBTC are technically different entities, wash sale rule is probably not applicable. From a point of view of brokers-I have no idea what compels them to bid at a 36% premium.
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inca
Legendary
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Activity: 1176
Merit: 1000
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April 28, 2015, 05:20:10 PM |
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If it's genuine, sure, it's bullish
After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment. Could both events be linked? And both an attempt to trigger a short squeeze without spending too much money? Too cynical? Or just wary?!
Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!
If it's a co-ordinated pump there is certainly serious intent behind it.
Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!
Literally the only thing bears have going for them is the 'line on a chart points down'. If 160 was the bottom then there will be some very surprised shorters in the next few weeks
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darkangel11
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Don't let others control your BTC -> self custody
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April 28, 2015, 06:54:15 PM |
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Maybe they were the ones buying on Btc-e yesterday.
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alani123
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April 28, 2015, 11:50:48 PM |
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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.
I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing. Bitfinex is not the only exchange with big liquidity, other exchanges like OKcoin have VIP accounts with smaller fees and secure fund handling. Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. It enables investors to gain exposure to the price movement of bitcoin without the challenge of buying, storing, and safekeeping bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.
Each BIT share represented ownership of 0.1 bitcoins initially. The trust will not generate any income and regularly sells/distributes bitcoins to pay for its ongoing expenses. Therefore, the amount of bitcoin represented by each share gradually declines over time. http://www.otcmarkets.com/stock/GBTC/profileThat actually sounds like a really inconvenient way to invest in the price of bitcoin and it probably targets investors that are naive to the technology itself.
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[/tabl
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minerpumpkin
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April 29, 2015, 12:26:00 AM |
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This is really puzzling. So either those bids aren't real and only placeholders of some sort, which get pulled before the trading starts, or there's really an incredible demand for those shares. I'd actually do get it if there was some decent buying pressure due to this being an actual ETF and not some unregulated exchange, but that markup of 60-70% really is mezmerizing!
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I should have gotten into Bitcoin back in 1992...
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jaberwock
Legendary
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April 29, 2015, 12:26:51 AM |
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Maybe they were the ones buying on Btc-e yesterday. I doubt it. Maybe the big buys from yesterday were from people that are hoping to sell for them or other big buyers for a big premium?
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minerpumpkin
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April 29, 2015, 12:30:37 AM |
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Maybe they were the ones buying on Btc-e yesterday. I doubt it. Maybe the big buys from yesterday were from people that are hoping to sell for them or other big buyers for a big premium? The people placing the bids for GBTC want to buy shares of the ETF. If you buy coins on BTC-e, Bitfinex, Bitstamp, wherever, you can't just "transfer" them to the ETF, it doesn't work that way. The only thing that would make sense is if those people buying on BTC-e were sure that the price will skyrocket once the trading commences, in order to sell again on BTC-e, or wherever.
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I should have gotten into Bitcoin back in 1992...
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btcfaucet.us
Newbie
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April 29, 2015, 03:23:44 AM |
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fake bid
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bounst
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April 29, 2015, 03:44:44 AM |
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market depth too shallow? or that is a limit order with fake?
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WhatTheGox
Legendary
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Activity: 812
Merit: 1000
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April 29, 2015, 08:31:15 AM |
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If that is'nt bullish, I don't know what it need else. Im looking at it live at the site now, maybe this is whats helping the market recently. Is kinda confusing that people are willing to pay so much to not deal with other exchanges.
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gotmilk_
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April 29, 2015, 08:50:22 AM |
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If that is'nt bullish, I don't know what it need else.
Im looking at it live at the site now, maybe this is whats helping the market recently. Is kinda confusing that people are willing to pay so much to not deal with other exchanges. What did you expect? Exchanges can close down tomorrow... I expect first few trades will be above 40$ per share.
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Elwar
Legendary
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Viva Ut Vivas
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April 29, 2015, 10:14:00 AM |
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Does GBTC make it possible to convert your 401k to bitcoins?
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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