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Author Topic: Announced $1,000,000 purchase and market influence  (Read 796 times)
eklass
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March 18, 2013, 07:51:53 PM
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This guy is claiming to buy $1 million USD of bitcoins very shortly. Traders on MtGox appear bullish on the announcement and price is rising accordingly. Should be interesting depending on truth of statement and outcome.

http://www.reddit.com/r/Bitcoin/comments/1ajid7/when_this_post_is_30_minutes_old_i_will_be/
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March 18, 2013, 07:55:49 PM
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He says he has a long-term strategy in place...  Build trust by saying something and doing it, then screw everyone over by saying something and not?
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March 18, 2013, 08:01:30 PM
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seems kind of suspicious... curious to see where it goes, but not expecting a whole lot to come of it.
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March 18, 2013, 08:02:23 PM
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http://www.reddit.com/r/Bitcoin/comments/1ajjtg/when_this_post_is_30_minutes_old_i_will_sell/
eklass
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March 18, 2013, 08:06:27 PM
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Post is now 39 minutes old and net result appears to be that a bunch of buyers jumped in, pushing past the recent $48 wall
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March 18, 2013, 08:43:42 PM
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I doubt that that post is the reason for the recent slight rise in btc/usd value...
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March 18, 2013, 08:56:37 PM
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Nobody announces they WILL be buying $1M (future tense).  Case in point we have multiple clients who have bought over $1M to date. No advance notice, off-exchange, no slippage, secured over the course of weeks.  Patient and silent, locking in a solid entry point and the market is no more the wiser.

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March 18, 2013, 09:16:31 PM
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Nobody announces they WILL be buying $1M (future tense).  Case in point we have multiple clients who have bought over $1M to date. No advance notice, off-exchange, no slippage, secured over the course of weeks.  Patient and silent, locking in a solid entry point and the market is no more the wiser.



Sure there are plenty of people announcing they WILL be buying $1M, just not any who actually plan on buying anything.

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eklass
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March 18, 2013, 09:49:56 PM
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Sure there are plenty of people announcing they WILL be buying $1M, just not any who actually plan on buying anything.

It's conceivable that someone could make the announcement, drive the price higher through pure speculation, then dump their BTC for a higher profit.
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March 18, 2013, 10:27:50 PM
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We'll see if this frenzy can kill the wall at 50 Grin
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March 18, 2013, 10:30:57 PM
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We're almost at 50 now  Shocked
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March 18, 2013, 10:33:01 PM
 #12

Are there ~22000 bitcoins offered on the given market? Wouldn't his funds have to clear escrow first? Most likely a pump and dump scheme.

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