They want to buy 5000 BTC for 350$ each!

[Bitcoiner2015]

If that is'nt bullish, I don't know what it need else.

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

[gentlemand]

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Because it's a market that exists in its own little world. There's no parallel with the exchanges.

The shares that are for sale on there have been frozen for 12 months for some type of regulatory reason.

The people bidding on there are either too sensible, or not permitted to buy from any of the exchanges none of which are regulated or offer any protection or backup.

Finance professionals are not going to wire money to some Chinese person's personal bank account and hope the exchange doesn't go up in smoke before they get some coins.

[Elwar]

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Because it's a market that exists in its own little world. There's no parallel with the exchanges.

The shares that are for sale on there have been frozen for 12 months for some type of regulatory reason.

The people bidding on there are either too sensible, or not permitted to buy from any of the exchanges none of which are regulated or offer any protection or backup.

Finance professionals are not going to wire money to some Chinese person's personal bank account and hope the exchange doesn't go up in smoke before they get some coins.

There are also large institutions in play that cannot invest outside of that little world. This is their window into the Bitcoin world.

[ensurance982]

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Because it's a market that exists in its own little world. There's no parallel with the exchanges.

The shares that are for sale on there have been frozen for 12 months for some type of regulatory reason.

The people bidding on there are either too sensible, or not permitted to buy from any of the exchanges none of which are regulated or offer any protection or backup.

Finance professionals are not going to wire money to some Chinese person's personal bank account and hope the exchange doesn't go up in smoke before they get some coins.

There are also large institutions in play that cannot invest outside of that little world. This is their window into the Bitcoin world.

I agree, that the mere fact that this thing is being traded on "regular" exchanges is a big thing whose importance most of us people around here won't even recognize. Although we should keep in mind that their "little world" isn't so little, after all. If anything, our Bitcoin world is little compared to theirs. Tiny, even.

[LFC_Bitcoin]

When are these cock teasers going to get things under way?

[gentlemand]

When are these cock teasers going to get things under way?

The sellers had to wait 12 months to be able to sell. If I were one of them I'd be inclined to sit around and wait for some extremely generous offers in return for my patience.

[ensurance982]

When are these cock teasers going to get things under way?

The sellers had to wait 12 months to be able to sell. If I were one of them I'd be inclined to sit around and wait for some extremely generous offers in return for my patience.

Yeah, and those offers look rather tasty to me. I think they will be below the price people bought their initial shares, though, so it may be interesting to see if people actually decide to sell their shares. But I would be surprised if not a single share traded hands, though. (It's also interesting to see the lack of low bids)

[yayayo]

You have to keep in mind that a bid is not a transaction. Especially not on the OTC market. The OTC is a wild west of market makers, making fake bids that can be pulled out of the market even after an order has been placed that would fill them.

I think we have to wait for an actual transaction. Of course it's possible that some premium over fair market value is paid as a "regulation/convenience bonus".

ya.ya.yo!

[phoenix1]

AAAAANNNND it's gone !!  

Whuda thunk it  

Oh, and just to be super-safe Maxim lowered their new bid to $30 for 100 shares ...

/thread

EDIT : AAAAANNNND it's back !!   

[manselr]

fake bid

Most likely, but i've seen big walls that seemed fake being eaten at ridiculous speeds. for some people 5000 BTC is spare cash and those millonaires want BTC at a higher price and will do anything it takes to make the price go up again.

[mrhelpful]

You cant blame a whale for trying though right.

Its a form of capitalism on how they see fit, either its a morale thing or not. If its fake buy order, esp if I`m holding onto more then a certain amount of coins, I`d be wanting easy sell off to buy something in cash.

Cause that cash can go into real estate or something they feel got for free by doing a small easy price manipulation.

[techgeek]

AAAAANNNND it's gone !!  

Whuda thunk it  

Oh, and just to be super-safe Maxim lowered their new bid to $30 for 100 shares ...

/thread

EDIT : AAAAANNNND it's back !!   

Haha, that just reminded me to go watch that south park moment again.

But, I think most of the whales been just testing with our heads though with prices. See what are willing to buy at, someone should ask these questions with a actual whale. I`m sure the whale would agree though that some of them are doing this.

[tampazeus]

Those guys are suckers. BTC is dying and anyone with a pair of eyes can see that.

[gentlemand]

Those guys are suckers. BTC is dying and anyone with a pair of eyes can see that.

Er, are all these professional financial instruments that every other market on the planet has, and BTC never has had so far, that are on the verge of fruition responsible for this? Bastards...

[tampazeus]

Those guys are suckers. BTC is dying and anyone with a pair of eyes can see that.

Er, are all these professional financial instruments that every other market on the planet has, and BTC never has had so far, that are on the verge of fruition responsible for this? Bastards...

yeahhh.. fuck them bastards... but on the reals. btc is dying.

[gentlemand]

yeahhh.. fuck them bastards... but on the reals. btc is dying.

Ain't no doubt it's lost its sparkle compared to periods in the past. There are also things in the works that would have seemed utterly ludicrous if you'd suggested they might happen 3 years ago.

I myself am giving it five years before figuring out whether it's truly going places or not. Something as complex and tainted does not get welcomed with open arms overnight.

[tampazeus]

yeahhh.. fuck them bastards... but on the reals. btc is dying.

Ain't no doubt it's lost its sparkle compared to periods in the past. There are also things in the works that would have seemed utterly ludicrous if you'd suggested they might happen 3 years ago.

I myself am giving it five years before figuring out whether it's truly going places or not. Something as complex and tainted does not get welcomed with open arms overnight.

Shhhh.. we all know its going places in life.. it just for the sheeple. We wnt them to sell and come to despair so it can moon again in 5 or 10 years

[ensurance982]

yeahhh.. fuck them bastards... but on the reals. btc is dying.

Ain't no doubt it's lost its sparkle compared to periods in the past. There are also things in the works that would have seemed utterly ludicrous if you'd suggested they might happen 3 years ago.

I myself am giving it five years before figuring out whether it's truly going places or not. Something as complex and tainted does not get welcomed with open arms overnight.

I guess that's a very reasonable thing to do. Right now we're still in "freak mode" and most of the times you don't even known when you're in the middle of a revolution. We could be on the brink of BTC going to a couple USD, or new ATHs no one has even dared to dream of - and everything in between.

[chopstick]

I will gladly sell all my coins for 350. Then I could buy back in and still have 10k left over in profit.

How do I get in touch with these people?

[ensurance982]

I will gladly sell all my coins for 350. Then I could buy back in and still have 10k left over in profit.

How do I get in touch with these people?

Well, they want to buy the shares of the ETF. They want the ease of using an ETF as an investment vehicle, and want all the protection that accompanies using an ETF. So you need to have GBTC shares you held for at least a year, and you can ask for them to be prepared to be sold to those people