kentrolla (OP)
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September 11, 2012, 11:43:27 AM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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kentrolla (OP)
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September 11, 2012, 12:04:09 PM |
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yea, that's what i meant by "spark a panic."
I guess I should have been more specific.
I meant a panic rally. Where speculators start to panic buy.
I'm not sure this would be the smartest option because it might cause another bubble.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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kentrolla (OP)
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September 11, 2012, 12:20:31 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
Is that you Mitt? lol i knew this was coming. No, my whole reason for asking this is because that whole extortion hoax got me thinking about what I would do in this hypothetical situation. Keep in mind it could also be someone who wants the tax returns to be released. Or maybe Romney would pay the "release" address just to call the hackers bluff to patch things up politically. Also, this would make the Democrats look stupid because people would assume that it was the Democratic party that paid the release address only to fall for a hoax. It could be a good move for Romney to pay the release address if the secret service determined it is indeed a hoax.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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proudhon
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September 11, 2012, 12:23:27 PM |
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I'd create a schedule for a month and try to stick to it. It'd be a little tempting to do it in one buy. Right now you could buy $1m worth of bitcoins without breaking $13.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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benjamindees
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September 11, 2012, 12:29:13 PM |
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In Mitt's case, it doesn't really matter how the purchase would be made, since the demand specified that only the USD value at the end must total at least $1 million. In fact, it would be better for him if he caused the price to spike, since that would mean paying fewer USD in total. So, if I were fulfilling the request in his case, I would probably make a few large, private transactions, followed by a series of increasing public purchases in order to drive up the price.
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Civil Liberty Through Complex Mathematics
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kneim
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September 11, 2012, 12:36:36 PM |
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I would say to the investor:
1) Be a good guy and invest slowly while stabilizing the price. This includes selling small parts if the price raises too quick (sell the win)
2) Do not build own walls, but buy large parts of suddenly arising big ask walls (could be from a manipulator, that's even better).
3) Perhaps it is not possible for investing this large batches in one month. It it seldom a good idea invest or deinvest large batches at once (but for manipulating the market).
4) Mt.Gox as the market place, perhaps others in addition (for arbitraging and stabilization)
5) I wouldn't use bots
6) I don't know other market place then Mt.Gox for this large amount
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kneim
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September 11, 2012, 12:44:42 PM |
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I'd create a schedule for a month and try to stick to it. It'd be a little tempting to do it in one buy. Right now you could buy $1m worth of bitcoins without breaking $13.
History has shown that most of these walls are temporary and can vanish from one second to the other.
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hannesnaude
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September 11, 2012, 12:46:47 PM |
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Interesting question. Remember that the opposite question "What is the best way to dispose of 1 million dollars worth of bitcoins?" may be just as relevant for some. i.e. there are some early adopters around with access to huge amounts of coins. But they can't sell over too short a period on gox without crashing the market. Now if only there were a way for these parties to find one another without either party having to show his/her hand publicly first and sparking a panic. I suspect iceberg orders on gox will do a lot to enable large players to enter/exit the market non-disruptively. Still hoping for something like this.
I was also wondering what I would do in this situation under the assumption that the threat is real (highly unlikely) and that I really have something to hide (highly likely). My first thought was that I would send an encrypted message to the blackmailer requesting a new deposit address so that I could pay without it being widely known that I paid. I thought I could use the public key corresponding to the blackmailer's address to encrypt the message so that only the blackmailer could read the message. I then realised that since bitcoin addresses are hashes of public keys rather than the public keys themselves, this key would be unknown until someone does a withdrawal from the address.
Does anyone know why this is? What benefits do we get from using the hash rather than the key itself? Obviously we save a few bits on address length, but since we are past the point where addresses can realistically be memorised or manually typed anyway, this seems somewhat irrelevant. Satoshi had good reasons for most every choice he made in this system. What was the reason for this one?
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elux
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September 11, 2012, 12:52:33 PM Last edit: September 11, 2012, 01:24:40 PM by elux |
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Right now you could buy $1m worth of bitcoins without breaking $13.
Yes. Now would be a good time to start acquiring $1M worth of BTC. Here's the argument: Between June and mid-late August, the ask depth was so precariously thin that a 100K BTC market buy would quickly push the cost per additional BTC bought far beyond 30USD/BTC. Obviously, this would be unacceptable, as the price would quickly crash after the big bid. Acquiring any significant amount of BTC on the exchanges was simply not an option at the time. The current situation is different: With the ask depth that filled in after the BTCST Exit, one could load up on a decent amount of BTC, without having to suffer entirely outrageous marginal cost toward the tail end.
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kentrolla (OP)
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September 11, 2012, 01:17:22 PM |
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5.5k btc slippage. not bad.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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molecular
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September 11, 2012, 01:33:12 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
- Have account of reputable forum member ceised by friends at CIA/FBI/Police
- Use account to ask in forum "What's the best way to acquire 1 million dollars worth of bitcoins?"
- Execute best advice
In seriousness, though: contact Gavin and have him contact trustable people with lots of coins and buy them at a good price (+20%) so they keep quiet until you got all the deals closed.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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kentrolla (OP)
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September 11, 2012, 04:33:14 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
- Have account of reputable forum member ceised by friends at CIA/FBI/Police
- Use account to ask in forum "What's the best way to acquire 1 million dollars worth of bitcoins?"
- Execute best advice
In seriousness, though: contact Gavin and have him contact trustable people with lots of coins and buy them at a good price (+20%) so they keep quiet until you got all the deals closed. lol. I'm not a "reputable forum member" though.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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bpd
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September 11, 2012, 08:29:21 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
Despite the current state of the order book it will change if you push it and you will end up paying more of a premium than you expect if you plunk down $1m all at once. It is a maximum risk scenario. Is that really true? It was my impression that once a large order is placed on MtGox that is executing against existing asks, no other orders can be cancelled (or placed) while that order is in the process of being filled.
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bpd
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September 11, 2012, 08:52:48 PM |
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I realize it takes time (way too much time, TBH). But during that time period, the state of the orderbook should be locked. Order execution should be fully atomic.
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malevolent
can into space
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September 11, 2012, 08:57:11 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
Start a pozni a get free monies quickly.
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Signature space available for rent.
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adamstgBit
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September 11, 2012, 08:58:16 PM |
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I realize it takes time (way too much time, TBH). But during that time period, the state of the orderbook should be locked. Order execution should be fully atomic.
agreed, why to they allow orders to be pulled out of the way of 1 major buy? theirs no reason it should "take time" to lock the books and fill orders, for 1 big buy. its just a few numbers being moved around. i dont get it....
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moni3z
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September 11, 2012, 08:59:02 PM |
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Start a corporation, offer to buy coins for various methods. Keep them. Wouldn't even bother with exchangers, this method you could do it and avoid ID and fees
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adamstgBit
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September 11, 2012, 09:11:31 PM |
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i'd buy 1 million dollars worth of LSD and sell it on SR lol!
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JoelKatz
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Democracy is vulnerable to a 51% attack.
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September 11, 2012, 09:17:01 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at? I would talk to private individuals who hold large amounts of Bitcoin and try to make private purchases to keep the price from going up too much too quickly. I'd try to buy for spot price and I'd actually slowly sell Bitcoins on exchanges the whole time to try to keep the spot price down.
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I am an employee of Ripple. Follow me on Twitter @JoelKatz 1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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kentrolla (OP)
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September 11, 2012, 10:15:29 PM |
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well. someone beat me to it.
bold move.
i think this guy has no intention of actually purchasing coins though.
160k btc bid wall is just obnoxious.
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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kentrolla (OP)
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September 11, 2012, 10:21:44 PM |
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why would someone show their cards in this fashion?
I'm so confused right now.
Would the owner of this wall please PM me?
I have a few propositions for you.
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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Technomage
Legendary
Offline
Activity: 2184
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Affordable Physical Bitcoins - Denarium.com
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September 11, 2012, 10:25:02 PM |
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It's possible that the wall dude also has a large amount of bitcoins and wants a rally to dump them.
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Denarium closing sale discounts now up to 43%! Check out our products from here!
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Technomage
Legendary
Offline
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
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September 11, 2012, 10:31:17 PM |
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Wow, ok. Welcome to the world of Bitcoin trading. +1
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Denarium closing sale discounts now up to 43%! Check out our products from here!
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kentrolla (OP)
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September 11, 2012, 10:32:34 PM |
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well this is obviously not the best way to acquire 1 million dollars worth of bitcoins.
I have no clue what is going on.
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▄▄████████▄▄ ▄▄████████████████▄▄ ▄██████████████████████▄ ▄█████████████████████████▄ ▄███████████████████████████▄
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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elux
Legendary
Offline
Activity: 1458
Merit: 1006
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September 11, 2012, 10:37:56 PM |
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Doing it wrong →
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kentrolla (OP)
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September 11, 2012, 10:42:28 PM |
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lol I just imagine some old noob with 1.7 million dollars trying to figure out how to use mtgox. He probably called up geek squad to help him.
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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sgravina
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September 11, 2012, 10:58:29 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
Easy. Deposit about 1.8 million dollars in a MtGox account. Put in a buy order for 160,000 bitcoins at $10.7. Sit back and watch the bitcoins pile up in your account. You may end up with a few extra bitcoins but that's OK you can always sell them tomorrow.
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kentrolla (OP)
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September 11, 2012, 11:04:23 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
Easy. Deposit about 1.8 million dollars in a MtGox account. Put in a buy order for 160,000 bitcoins at $10.7. Sit back and watch the bitcoins pile up in your account. You may end up with a few extra bitcoins but that's OK you can always sell them tomorrow. lol that's probably what geek squad told this guy to do.
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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byronbb
Legendary
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Activity: 1414
Merit: 1000
HODL OR DIE
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September 11, 2012, 11:09:15 PM |
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Pretend like someone gave you 1 million dollars and told you to buy bitcoins with it in less than a months time. How would you go about doing this? Would you buy them all in one big market order in hopes to spark a panic? Would you accumulate the coins slowly throughout the month? Would you use a bot? Would you set up bid walls? Would you even use mtgox? If not, who would you contact to purchase coins from without using the exchange and what price would you offer to buy them at?
Buy 1 million in cocaine and sell it at cost on SR.
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smoothie
Legendary
Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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September 11, 2012, 11:29:51 PM |
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Right now you could buy $1m worth of bitcoins without breaking $13.
Yes. Now would be a good time to start acquiring $1M worth of BTC. Here's the argument: Between June and mid-late August, the ask depth was so precariously thin that a 100K BTC market buy would quickly push the cost per additional BTC bought far beyond 30USD/BTC. Obviously, this would be unacceptable, as the price would quickly crash after the big bid. Acquiring any significant amount of BTC on the exchanges was simply not an option at the time. The current situation is different: With the ask depth that filled in after the BTCST Exit, one could load up on a decent amount of BTC, without having to suffer entirely outrageous marginal cost toward the tail end. Those jagged edges on the sell wall are mostly PussyAt40. He wants to keep the price down so he can buy cheap. What a loser.
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███████████████████████████████████████
,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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kjj
Legendary
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Activity: 1302
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September 12, 2012, 05:40:28 AM |
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I realize it takes time (way too much time, TBH). But during that time period, the state of the orderbook should be locked. Order execution should be fully atomic.
agreed, why to they allow orders to be pulled out of the way of 1 major buy? theirs no reason it should "take time" to lock the books and fill orders, for 1 big buy. its just a few numbers being moved around. i dont get it.... Exchanges are super easy, everyone knows exactly how they should work. Until they actually have to write one and they find out that things can get strange quickly.
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17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8 I routinely ignore posters with paid advertising in their sigs. You should too.
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thebaron
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September 12, 2012, 05:49:39 AM |
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I'd create a schedule for a month and try to stick to it. It'd be a little tempting to do it in one buy. Right now you could buy $1m worth of bitcoins without breaking $13.
The problem is transferring enough funds to exchanges or private dealers in order to buy them before people become wise that the supply of BTC are drying up.
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Seal
Donator
Hero Member
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Activity: 848
Merit: 1078
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September 13, 2012, 01:33:28 AM |
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I definitely would not make this public or you will get speculators trading against you to take a slice of your $1m (by artificially inflating prices).
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notme
Legendary
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Activity: 1904
Merit: 1002
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September 13, 2012, 02:50:22 AM |
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I definitely would not make this public or you will get speculators trading against you to take a slice of your $1m (by artificially inflating prices).
Or he could be lying and actually looking to sell. People who speculate on forum rumors are asking to be bitten.
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kentrolla (OP)
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September 13, 2012, 03:13:23 AM |
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I definitely would not make this public or you will get speculators trading against you to take a slice of your $1m (by artificially inflating prices).
Or he could be lying and actually looking to sell. People who speculate on forum rumors are asking to be bitten. this. announcing your plans usually has no effect whatsoever. In fact, I would go as far to say that the majority of people would assume you're lying.
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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tvbcof
Legendary
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Activity: 4592
Merit: 1276
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September 13, 2012, 04:39:28 AM |
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If one has national security apparatus at one's disposal, the easiest thing to do would be to pick up a "terrorist" who has control of a decent amount of BTC (say, an exchange operator) and waterboard the shit out of them until they give you what you want.
The strategy for someone without the nicety of usable state apparatus could take a similar form I suppose.
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sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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lebing
Legendary
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Enabling the maximal migration
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September 13, 2012, 08:39:02 AM |
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If time isnt an issue:
Buy 100k USD worth in a straight market order Wait 2 years Profit
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Bro, do you even blockchain? -E Voorhees
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kentrolla (OP)
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September 13, 2012, 03:22:13 PM |
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If time isnt an issue:
Buy 100k USD worth in a straight market order Wait 2 years Profit
time is an issue. it has to be done by the end of october
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| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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Elwar
Legendary
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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September 13, 2012, 06:15:09 PM |
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Buy half in a way that is as under the radar as possible...do some p2p buys with cash, hit the smaller exchanges, do some trading on mtGox catching any downward pressure.
Then take another million and jump on mtGox with it. Create a huge million dollar bid wall and spread the word that you are buying a buttload.
You will get a good rally going with your first $400k then start to remove some of your bids with the rest of the $500k as the market takes over the rally.
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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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Seal
Donator
Hero Member
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Activity: 848
Merit: 1078
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September 13, 2012, 11:45:38 PM |
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Buy half in a way that is as under the radar as possible...do some p2p buys with cash, hit the smaller exchanges, do some trading on mtGox catching any downward pressure.
Then take another million and jump on mtGox with it. Create a huge million dollar bid wall and spread the word that you are buying a buttload.
You will get a good rally going with your first $400k then start to remove some of your bids with the rest of the $500k as the market takes over the rally.
Your 888'th post and it sounds like a winning strategy *thumbsup* from me
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thezerg
Legendary
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Activity: 1246
Merit: 1010
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September 14, 2012, 01:08:02 AM |
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Buy 1000 btc. Tell Bernanke to announce QE3. Chill...
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lebing
Legendary
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Activity: 1288
Merit: 1000
Enabling the maximal migration
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September 14, 2012, 01:25:13 AM |
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Tell Bernanke to announce QE3.
That happened already (today)
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Bro, do you even blockchain? -E Voorhees
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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September 14, 2012, 02:24:07 AM |
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Buy 1000 btc. Tell Bernanke to announce QE3. Chill...
yup it helps having friends in high places
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jojo69
Legendary
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Activity: 3164
Merit: 4345
diamond-handed zealot
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September 14, 2012, 05:31:37 AM |
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buy a million dollars worth of ASICs??
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This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable. Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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kentrolla (OP)
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September 14, 2012, 12:53:03 PM |
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it turns out pirate was able to fill my order.
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▄▄████████▄▄ ▄▄████████████████▄▄ ▄██████████████████████▄ ▄█████████████████████████▄ ▄███████████████████████████▄
| ███████████████████▄████▄ █████████████████▄███████ ████████████████▄███████▀ ██████████▄▄███▄██████▀ ████████▄████▄█████▀▀ ██████▄██████████▀ ███▄▄████████████▄ ██▄███████████████ ░▄██████████████▀ ▄█████████████▀ █████████████ ███████████▀ ███████▀▀ | | | .
| | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | . ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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lebing
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
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September 14, 2012, 05:37:27 PM |
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it turns out pirate was able to fill my order. Not funny =P
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Bro, do you even blockchain? -E Voorhees
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Seal
Donator
Hero Member
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Activity: 848
Merit: 1078
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September 16, 2012, 07:55:13 AM |
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it turns out pirate was able to fill my order. Not funny =P Loool, yea agreed, its not funny... its hilarious
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mobodick
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September 16, 2012, 10:53:00 AM |
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"What is the best way to acquire 1 million dollars worth of bitcoins? "
1) Buy one bitcoin. 2) Inflate the dollar. 3) Profit.
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Spekulatius
Legendary
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Activity: 1022
Merit: 1000
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September 16, 2012, 08:59:16 PM |
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I definitely would not make this public or you will get speculators trading against you to take a slice of your $1m (by artificially inflating prices).
Or he could be lying and actually looking to sell. People who speculate on forum rumors are asking to be bitten. this. announcing your plans usually has no effect whatsoever. In fact, I would go as far to say that the majority of people would assume you're lying. Depends on how trustworthy andlogical your claim is. Would you believe Benanke is lying to you when he announces QE3? You know he's got a good reason to do it, you know's got the recources and power to do so and he did it already in the past. If No0B_user99 announces to buy 10M$ worth of bitcoin tomorrow, I would bet all my bitcoins it won't happen, but that's the other end of the spectrum. To close the circle and come back to our case: If Mitt Romney or someone else in his name (like Donald Trump) announces to buy 1M$ worth of Bitcoin by October, I would be very tempted to believe it. Many people would be, so it would have a severe effect on price. If he really would wanna buy cheap, he wouldn't announce it though. Instead someone with good connections could announce a ruling to make bitcoin illegal or else, of believable enough, that would have a severe effect on bitcoin prices also, the other way.
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hazek
Legendary
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Activity: 1078
Merit: 1002
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September 16, 2012, 10:03:56 PM Last edit: September 16, 2012, 11:35:43 PM by hazek |
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Buy half in a way that is as under the radar as possible...do some p2p buys with cash, hit the smaller exchanges, do some trading on mtGox catching any downward pressure.
Then take another million and jump on mtGox with it. Create a huge million dollar bid wall and spread the word that you are buying a buttload.
You will get a good rally going with your first $400k then start to remove some of your bids with the rest of the $500k as the market takes over the rally.
You were close but what you say doesn't make a hole lot of sense. Here's the thing, there are two goals one might have: 1) get $1 million dollars worth of value into BTC and hold BTC 2) pay someone BTC worth $1million dollars and have no intention of holding any value in BTC As you can perhaps already see my point the best strategy to accomplish either of these two very different goals are also very different. With the first goal you'd want to pursue any strategy that would conceal as long as possible from the market the fact of your demand whether it be cost averaging or going to smaller markets first. With the second goal after you exchanged some bitcoins you actually want to spark a huge rally because you just want to pay someone an amount of BTC worth $1 million which can be any amount of BTC so the best strategy would be to buy as few as possible as openly as possible and flaunt your extra demand as much as possible in order to spark the biggest rally possible. With a strong enough rally you might not even need to spend half a million in order to pay someone a $1 million worth of Bitcoins.
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My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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