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Kupsi
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9.9.2012: I predict that single digits... <- FAIL
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May 12, 2015, 12:18:43 PM |
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He wants 310 USD / BTC, so he just buy on an exchange and sell on Local Bitcoins.
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torrentheaven (OP)
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May 12, 2015, 12:22:23 PM |
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He wants 310 USD / BTC, so he just buy on an exchange and sell on Local Bitcoins.
That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
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Xialla
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/dev/null
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May 12, 2015, 12:25:39 PM |
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That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again. you know what? at 310$ I can sell you unlimited amount of bitcoins.. )
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torrentheaven (OP)
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May 12, 2015, 12:28:38 PM |
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That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again. you know what? at 310$ I can sell you unlimited amount of bitcoins.. ) Aren't those bitcoins about 44,000 be held in escrow in localbitcoins when someone starts the trade, is he having that many bitcoins in his account right now, and why would someone leave it in an exchange instead of keeping in cold storage if it were really there in his LBC account.
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Q7
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May 12, 2015, 12:43:35 PM |
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Well for a starter can he prove that he really owns 44k coins? with that price he is selling he would be able to use the money earned from the sale to get more of the coin in the exchangers to resell. Probably like any sellers he is just trying to get the attention.
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torrentheaven (OP)
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May 12, 2015, 01:01:43 PM |
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Well for a starter can he prove that he really owns 44k coins? with that price he is selling he would be able to use the money earned from the sale to get more of the coin in the exchangers to resell. Probably like any sellers he is just trying to get the attention.
Isn't it like that the bitcoins shows in lbc ad, according to your balance in lbc wallet?
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Amph
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May 12, 2015, 01:24:47 PM Last edit: May 12, 2015, 02:45:12 PM by Amph |
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That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again. you know what? at 310$ I can sell you unlimited amount of bitcoins.. ) or because he don't need all that money, come on 13 millions are more than enough to retire why he should wait? and anyway he could always sell 50% and keep the rest if he really believe in bitcoin but the fact that he is selling at a higher price make me think, that your statement held some reason, because if he had really that amount, he would do a discout, if he really need to sell them
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johnyj
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Beyond Imagination
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May 12, 2015, 10:19:55 PM |
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I remember during 2013 spring, some one from Dubai ordered tons of KNC jupiter, maybe this is the result of that operation But wait, for a cash trades you can sell any amount, even 1 million bitcoins, so this does not say a lot
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Bitcoins101
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May 12, 2015, 10:27:01 PM |
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For local ads, you do not need to have any bitcoins to put up an ad for any amount. Only with online ads does your wallet need to contain the coins in order for the ad to be active.
He plausibly could have zero coins stored on LocalBitcoins.
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mrhelpful
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May 12, 2015, 10:41:08 PM |
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It would only make sense if that guy in dubai is some wealthy person, and he just tasted what bitcoin is and wants to cash out.
But, how do you verify that person being wealthy? also someone pointed out about with verifying the balance if he had it or not and itd have to be a signed message per address that the balance is held on.
so my guess is, its just more of a marketing play to have a potential buyer.
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galbros
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May 12, 2015, 11:07:31 PM |
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He wants 310 USD / BTC, so he just buy on an exchange and sell on Local Bitcoins.
That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something. Because he can buy them for far less and simply resell them. I don't see why this is so hard to see. I would be happy to sell you something I could easily replace for 30% above its cost. I don't think LBC requires you to prove you have the coins in advance. As Bitcoins101 has pointed out, he may not have any bitcoins at all.
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Coinshot
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May 12, 2015, 11:24:41 PM |
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He wants 310 USD / BTC, so he just buy on an exchange and sell on Local Bitcoins.
That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something. Because he can buy them for far less and simply resell them. I don't see why this is so hard to see. I would be happy to sell you something I could easily replace for 30% above its cost. I don't think LBC requires you to prove you have the coins in advance. As Bitcoins101 has pointed out, he may not have any bitcoins at all. I am sure he does not have the coins. If he indeed had that many coins to sell he will not be mentioning all of them and depress prices. Better would have been to sell in small amounts. This is the equivalent of walls we see in exchanges.
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MRKLYE
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Designer - Developer
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May 12, 2015, 11:27:14 PM |
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Probably some rich saudi prince that bought at $1000 and is trying to recoup some loses. That is an absolutely ridiculous amount of BTC to sell though.. and dumped on exchanges could spell a large price decrease.
He is asking far to much in USD per a coin though.. I know in Canada we are buying/selling around $290 at the moment and our dollar is weak.
What could 44,000 bitcoins do? If you did it right you'd never have to work again and you would have so much time for projects.
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techgeek
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May 12, 2015, 11:59:21 PM |
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If this guy sells, we`d see another drop in bitcoins price.
Because thats pretty huge sum, and most I seen last 2 weeks ago was a 5,000 coin sell off that did a $50 price damage to the value.
But, thats if this guy was legit and if we knew he have coins or not. If the persons legit, he just tired of the up and down scenario imo.
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gentlemand
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Welt Am Draht
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May 13, 2015, 12:04:14 AM |
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If this guy sells, we`d see another drop in bitcoins price.
Because thats pretty huge sum, and most I seen last 2 weeks ago was a 5,000 coin sell off that did a $50 price damage to the value.
But, thats if this guy was legit and if we knew he have coins or not. If the persons legit, he just tired of the up and down scenario imo.
It's not an exchange. There wouldn't be any slippage in either direction. It wouldn't affect active markets one bit. That's if he actually has them in hand. If he's looking to pre sell them then he'd better be very friendly with a major holder (who wouldn't let go of that much for that price if they were in their right mind) or he will singlehandedly drive the price towards the stratosphere and subsidise the new owner to the tune of several million dollars for the honour of selling at that price.
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solstoce
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May 13, 2015, 12:23:20 AM |
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I remember during 2013 spring, some one from Dubai ordered tons of KNC jupiter, maybe this is the result of that operation But wait, for a cash trades you can sell any amount, even 1 million bitcoins, so this does not say a lot I like this guys idea more though lol
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bitbaby
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May 13, 2015, 02:28:12 AM |
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That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again. you know what? at 310$ I can sell you unlimited amount of bitcoins.. ) Aren't those bitcoins about 44,000 be held in escrow in localbitcoins when someone starts the trade, is he having that many bitcoins in his account right now, and why would someone leave it in an exchange instead of keeping in cold storage if it were really there in his LBC account. You're right, to open an ad they must be in his wallet at LBC otherwise the ad will not be visible to the buyers and he really must be having big trust in them to keep so many bitcoins in there. Also, LBC must be the only exchange which allows trading BTC for cash without filling up any KYC form because all I see on his profile page is that he has only verified his Phone & Email.
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digit
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May 13, 2015, 02:41:35 AM |
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That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again. you know what? at 310$ I can sell you unlimited amount of bitcoins.. ) Aren't those bitcoins about 44,000 be held in escrow in localbitcoins when someone starts the trade, is he having that many bitcoins in his account right now, and why would someone leave it in an exchange instead of keeping in cold storage if it were really there in his LBC account. You're right, to open an ad they must be in his wallet at LBC otherwise the ad will not be visible to the buyers and he really must be having big trust in them to keep so many bitcoins in there. Also, LBC must be the only exchange which allows trading BTC for cash without filling up any KYC form because all I see on his profile page is that he has only verified his Phone & Email. no he can show any amount without having the actual bitcoins as its a local cash trade / meetup Only online trades use escrow Minimum balance limitations You need to have at least the advertisement minimum sell limit and 0.4 BTC available in your LocalBitcoins.com wallet.
Your advertisement is not visible and available for the users if you do not have enough balance to fund the advertisement. Because bitcoins are reserved to the escrow protection when someone replies to your online sale trade advertisement, these bitcoins must be available online. This is a feature of online sale advertisements and does not concern online purchase advertisements or local cash trades.
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KimNam
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May 13, 2015, 02:50:14 AM |
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That can be true, but I'm wondering why a person would sell 13.5 Million USD worth Bitcoins as per his trade when he can wait for few more months or years and have the price go up and make ton of profit like say double or triple, make 50 million USD or something.
uhh simply because he don't have them. He had just acc on some exchange, some BTC on stock and in case of needs, he will transfer fiat to exchange and sell it again. you know what? at 310$ I can sell you unlimited amount of bitcoins.. ) Aren't those bitcoins about 44,000 be held in escrow in localbitcoins when someone starts the trade, is he having that many bitcoins in his account right now, and why would someone leave it in an exchange instead of keeping in cold storage if it were really there in his LBC account. You're right, to open an ad they must be in his wallet at LBC otherwise the ad will not be visible to the buyers and he really must be having big trust in them to keep so many bitcoins in there. Also, LBC must be the only exchange which allows trading BTC for cash without filling up any KYC form because all I see on his profile page is that he has only verified his Phone & Email. Anyone think one of prince of UEA investing a lot on bitcoin mining before and boring after saw bitcoin prices keep falling. So he really trust localbitcoins then, 44k BTC is very high amount to trust it on exchange. If this trade successful, localbitcoins will get more reputation as trusted exchange. Yeah right, localbitcoins don't asking us about KYC, that's why many big amount of BTC seller using it for transaction.
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