1

[Bitcoin Oz]

unless kim is going to offer selling bitcoins i see no benefit in why kim would need to purchase large amounts of bitcoins.

i thought kims idea was to receive/accept bitcoins from users. to then cash out as fiat to pay real world costs of living a luxury lifestyle.

so unless kim becomes an exchange selling bitcoin to the community, i do not see this as being part of the business plan. but maybe a personal investment plan (if it were true) to grab a chunk of coins and as bitcoins recognition expands making that initial investment worth more.

Unless the megabox comes with a bitcoin wallet containing some coins.

[bbit]

B.S

[repentance]

unless kim is going to offer selling bitcoins i see no benefit in why kim would need to purchase large amounts of bitcoins.

You don't think that someone like him would be constantly on the look out for ways he might be able to hide the location and extent of his assets?  Remember that he had to get permission from the NZ High Court to borrow money to pay his legal bills earlier this year and to sell some of his assets.  I suspect that he'd rather not be in a similar situation in the future.

He'd be in a shitload of trouble if it became known to authorities that he'd somehow managed to use hidden assets to buy $5 million worth of Bitcoins so either this is a beat up or he's trusted the wrong people.

[giszmo]

I call BS, too. If it were true, it would be a good advise to sell now. A $5M purchase not getting the price to a new all time high would get me very very bearish.


OTOH if I ever plan to launch a multi-million dollar worth of bitcoin only business I sure as hell would make sure to get some bitcoins for myself or at least for my business.

[smoothie]

"hey gaiz, word press just bought $25,000,000 in bitcoins"........i have no source but it must be true. 

[justusranvier]

I don't remember the link but somewhere there's a web site that will calculate the price movement that a large order would cause based on the existing order book. The widget on bitcoincharts almost does this (but there's a better version somewhere), and using this I got that you could spend almost $5 million by buying 120020 BTC on Mt Gox.

[vokain]

I got no bites on a facebook offer to give away 0.1BTC to friends who posted an address.. I only posted yesterday.. but still - if ya can't give em away.. what mogul is going to rush in with a 5Mil purchase?

(maybe only $1 worth is a bit small to be giving away.. but it was partly to see if people were even curious about bitcoin. Not even a 'like' so far.. but hey I only have a little over 100 friends - so perhaps not surprising.)

I've been facing similar issues. Can't even give away BTC0,10 or 0,25, as I've tried. I'm curious to see whether an offer of BTC25 would work, though! However, not all's lost. I've got a couple of friends/contacts on FB and G+ interested in BTC. Two of those friends live in the southern hemisphere, including one in Africa (Botswana). That my Botswanan friend is interested in Bitcoin doesn't surprise me, seeing as he's intelligent, a scientist in a national institute and posted earlier on FB complaining about the severe inflation rate of his local currency! Perfect foil for BTC. Hopefully he'll get some of his local friends in on the act and hey presto, an expanding BTC economy in Botswana.

mostly because commoners don't know the worth of a bitcoin

[Seal]

I don't remember the link but somewhere there's a web site that will calculate the price movement that a large order would cause based on the existing order book. The widget on bitcoincharts almost does this (but there's a better version somewhere), and using this I got that you could spend almost $5 million by buying 120020 BTC on Mt Gox.

MtGoxLive will show this:

http://mtgoxlive.com/orders

Except a $5mill order would make it go off the scale. $1mill is enough to shift the price to > $14 a btc

I call BS.

Cross referencing the last month:

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSza1gSMAzm1g10za2gSMAzm2g21zv

For daily volume, with any two week period he would have made up the entire period's trading volume to acquire $5mill (if he was trading USD... which is the biggest BTC market)

[Herodes]

but maybe a personal investment plan (if it were true) to grab a chunk of coins and as bitcoins recognition expands making that initial investment worth more.

He's all about personal gain. And I think he's reasonably smart. If price rise significantly, and he sells out slowly, he could even retire on that money...

[Ente]

I don't remember the link but somewhere there's a web site that will calculate the price movement that a large order would cause based on the existing order book. The widget on bitcoincharts almost does this (but there's a better version somewhere), and using this I got that you could spend almost $5 million by buying 120020 BTC on Mt Gox.

I like http://bitcoin.clarkmoody.com/ for exactly that.

Ente

[Fcx35x10]

last i heard, wasn't he denied bail again? seems a little unjust :/

[Raize]

This did not happen. As others have stated, it would be impossible to do this and not significantly move the price. There are folks running bots that anticipate large sell and buy orders already. I have problems buying just $1k worth in less than an hour without significantly moving the price, even without doing a market buy.

[darkmule]

last i heard, wasn't he denied bail again? seems a little unjust :/

No, after being denied bail initially, the decision to deny him bail was overturned and he's been out since February.

It is increasingly appearing that the only violations of criminal law in this case were by the police and New Zealand government.

[Lethn]

I kinda doubt that. Kim spent most of last week hating on Black Ops 2.

Who can blame him? I'm hating on a lot of shitty mainstream games these days, not necessarily because of the gameplay anymore but more because of how poorly built they are.

[luv2drnkbr]

last i heard, wasn't he denied bail again? seems a little unjust :/

No, after being denied bail initially, the decision to deny him bail was overturned and he's been out since February.

It is increasingly appearing that the only violations of criminal law in this case were by the police and New Zealand government.

And NZ apologized to him for violating his rights...

[thoughtfan]

That my Botswanan friend is interested in Bitcoin doesn't surprise me, seeing as he's intelligent, a scientist in a national institute and posted earlier on FB complaining about the severe inflation rate of his local currency! Perfect foil for BTC. Hopefully he'll get some of his local friends in on the act and hey presto, an expanding BTC economy in Botswana.

Yaaay   I'd absolutely love to see rapidly expanding Bitcoin economies in developing nations (see my related thread).  I'd like to support it.  This might be worth splitting the thread to discuss but I wonder if there's a relatively simple way by utilising the features of Bitcoin (that I barely understand) to have a reasonable chance of being able to donate to such a project without it being a 'project' with legal charity status and significant administration.

Just off the top of my head, using the above example, how about us offering 0.1 BTC gifts to your professor friend's friends - and to their friends?  So we'd have a thread here for people to post their addresses to which I (for one) would make a payment requiring the professor's signature to verify they are indeed his friends.  Of course this depends on contributors being content that you really do have a professor friend in Botswana whom you judge to be trustworthy enough to play his role that the recipients are within his local economy. Not that I'm doubting either but ideally we'd have a built in means of verifying this kind of thing too.  For it to work we'd need to have confidence it wasn't just someone creating multiple addresses to harvest others' good will; we'd need for it to be low enough maintenance for a volunteer (such as your professor friend) to be able to handle without disrupting his workday.

I can already see weaknesses but I haven't got the time to think it through properly right now.  Ideas?  Thoughts?

[nobbynobbynoob]

This is a great idea! I'll have to ask him what he thinks of this but it sounds good in principle. Here is his Facebook profile and Bitcoin address, whose only two transactions thus far are paid by yours truly.