20 calls a day from large asset managers looking to invest up to $100m.

[bb113]

what did you expect?

I kind of expected this, because I know that even skeptics will come to appreciate how brilliant Bitcoin is when they bother to learn in detail about it.

personally I'm starting to doubt bitcoin abit because it requires someone to pay for Energy forever and in increasing amounts to keep it alive

Add up the power for all office buildings of visa, mastercard, swift, the banks, etc. I don't know what this number is but bitcoin has to be tiny compared to that.

[1715354964]

1715354964

[1715354964]

1715354964

[1715354964]

1715354964

[proudhon]

Lol, not buying it.  Even if it's true, I hope their response is something like, "Um, no, you definitely do not want to be throwing that kind of money into bitcoin right now."  The project is still not mature enough, IMO.

[jwzguy]

most USD is created on a bank and is nothing more than a number on a database

now I hope I don't have to explain to you that costs near-zero energy to keepup

Please, explain again how banks don't use energy. /Wonka

[Chalkbot]

most USD is created on a bank and is nothing more than a number on a database

now I hope I don't have to explain to you that costs near-zero energy to keepup

BTW Asics are actually going to make the Energy sink of Bitcoin higher, not lower
but keep saying yourself otherwise

also, a payment processor like PayPal for bitcoin defeats the core purpose of bitcoin and will kill it completely

Well, I think you're wrong on all points. Impressive. I guess my taking the time to explain why is also a total waste of energy.

[altoz]

The hedge funds want to invest, I'm sure, but they need the market cap of bitcoin to be at least 10x what it is now. First, they're not going to want to take more than a 5% stake of the entire net worth of bitcoins. 5% at this point is $75 million or so last I checked. That's reasonable for maybe 1 or 2 hedge funds, but remember, they'd need the liquidity to match. Right now, mtgox does about $20 million in transactions per day. That's way too illiquid for a hedge fund. They like to be able to shift positions really quickly and that's not there right now.

The good news is, there's a natural accelerator once we get to a certain market cap. The bad news is, once they come in, it'll be wilder than it is now.

[Rampion]

Lol, not buying it.  Even if it's true, I hope their response is something like, "Um, no, you definitely do not want to be throwing that kind of money into bitcoin right now."  The project is still not mature enough, IMO.

I guess this is the response of most of them, many are simply too old to understand it if they are not quite tech-oriented.

At least for now.

[wopwop]

most USD is created on a bank and is nothing more than a number on a database

now I hope I don't have to explain to you that costs near-zero energy to keepup

BTW Asics are actually going to make the Energy sink of Bitcoin higher, not lower
but keep saying yourself otherwise

also, a payment processor like PayPal for bitcoin defeats the core purpose of bitcoin and will kill it completely

Well, I think you're wrong on all points. Impressive. I guess my taking the time to explain why is also a total waste of energy.

it is, because you are wrong

[Manticore]

Financial Times is reporting:

"Exante predicted that public and media interest would take off when Bitcoins were trading at $100. Managing partner Gatis Eglitis claims they are now getting 20 calls a day from large asset managers looking to invest up to $100m."

http://www.ft.com/cms/s/0/b4be7d8e-9c73-11e2-9a4b-00144feabdc0.html#ixzz2PRJpnZqI

Hope mtgox solves its ddos attacks first.

I'll believe it when I see it. The logistics would make it extraordinarily difficult.

[sunnankar]

Financial Times is reporting:

http://www.ft.com/cms/s/0/b4be7d8e-9c73-11e2-9a4b-00144feabdc0.html#ixzz2PRJpnZqI

Any copies of the articles since it is behind the paywall?

[sunnankar]

I'll believe it when I see it. The logistics would make it extraordinarily difficult.

Only at current prices.

[mb300sd]

Financial Times is reporting:

http://www.ft.com/cms/s/0/b4be7d8e-9c73-11e2-9a4b-00144feabdc0.html#ixzz2PRJpnZqI

Any copies of the articles since it is behind the paywall?

Google cache is your friend.

http://webcache.googleusercontent.com/search?q=cache%3Ahttp%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fb4be7d8e-9c73-11e2-9a4b-00144feabdc0.html%23ixzz2PRJpnZqI&rlz=1C1LENN_enUS459US459&aq=f&oq=cache%3Ahttp%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fb4be7d8e-9c73-11e2-9a4b-00144feabdc0.html%23ixzz2PRJpnZqI&aqs=chrome.0.57j58.1284j0&sourceid=chrome&ie=UTF-8

[Adrian-x]

what did you expect?

I kind of expected this, because I know that even skeptics will come to appreciate how brilliant Bitcoin is when they bother to learn in detail about it.

personally I'm starting to doubt bitcoin abit because it requires someone to pay for Energy forever and in increasing amounts to keep it alive

Is there another currency that doesn't?

USD doesnt need a permanent inflow of ever increasing Energy to keep it's perceived value alive

Sure the printed paper is energy neutral once printed, however that is so insignificant it shouldn't factor into the assessment. The true energy cost isn't the network, but the economic activity and mal investment that inflation and monetarism require, to sustain growth.

Arguably BTC is fare more sustainable, for an investment of $4500 I can run my mining rigs of 100% renewable solar energy. We can't run today's economy sustainability it needs consumption to constantly accelerate to be sustainable.

[Manticore]

Hedge funds get these types of calls day-in, day-out....people looking to enlighten themselves on a new investment. This most certainly does not mean they will be investing (even if they could). Why would a hedge fund chase the price up $10000's (a sure recipe to lose money), which is what would happen if this level of capital was poured into it??? It's impossible.......but it makes for a nice news story. Once they assess the systematic risk, lack of liquidity, lack of transparency (in some aspects), etc. etc., it's highly unlikely that they would decide to chase BTC performance.

[solex]

I'll believe it when I see it. The logistics would make it extraordinarily difficult.

Only at current prices.

Yes. Ironically. When Bitcoin is trading at, say $1000, and it is crazily expensive to load up, then it becomes attractive to huge funds who appreciate the liquidity of the marketplace!

[HighInBC]

20 x $5M (nice sounding average?) x 22 (working days in a month) = $2.2 BILLION looking to make its way into the BTC market per MONTH!

$2.2B x 12 = $26.4B

At $90 (ish), we're at a $1B market cap.

Prepare for 1 BTC = $2,376.00 within 12 months.  And this is just with current demand - as the price continues to rise, more and more asset managers with even larger balances will be calling and requesting to invest in BTC.  $2,376 is just the bottom end.  O.O

Talk to your kids about extrapolation, before someone else does.

[Elwar]

what did you expect?

I kind of expected this, because I know that even skeptics will come to appreciate how brilliant Bitcoin is when they bother to learn in detail about it.

personally I'm starting to doubt bitcoin abit because it requires someone to pay for Energy forever and in increasing amounts to keep it alive

Is there another currency that doesn't?

USD doesnt need a permanent inflow of ever increasing Energy to keep it's perceived value alive

Sure the printed paper is energy neutral once printed, however that is so insignificant it shouldn't factor into the assessment.

Ever had to move $1 million in printed money?

Me neither.

But it is done daily. In armored trucks. A few men driving huge gas guzzlers all day.

That money then sits in a vault, in a bank with security systems, lights, temperature control, staff, phone systems, computer systems, those workers driving to and from the bank, customers driving to and from the bank, etc...

Or just stay at home, trade BTC online.

[Gordonium]

Big money finally waking up little by little. Now it is time to buy as fast as possible.

It's always been the time to buy as fast as possible

Sure, but what I meant was that if you wait any longer train might have already left the station.

[wopwop]

Big money finally waking up little by little. Now it is time to buy as fast as possible.

It's always been the time to buy as fast as possible

Sure, but what I meant was that if you wait any longer train might have already left the station.

yeah new bigger suckers getting on the money train

bitcoin 300$ by april 15?
quite possible

[Elwar]

It appears that it is Exante that is dealing with the large loads:

"Exante, a Malta-based asset manager, set up a Bitcoin fund last year that was largely intended as a fun punt. Wealthy investors each put in $1,000 when Bitcoins were trading at $13 on the understanding they could lose the original investment. Exante predicted that public and media interest would take off when Bitcoins were trading at $100. Managing partner Gatis Eglitis claims they are now getting 20 calls a day from large asset managers looking to invest up to $100m."

[wopwop]

It appears that it is Exante that is dealing with the large loads:

"Exante, a Malta-based asset manager, set up a Bitcoin fund last year that was largely intended as a fun punt. Wealthy investors each put in $1,000 when Bitcoins were trading at $13 on the understanding they could lose the original investment. Exante predicted that public and media interest would take off when Bitcoins were trading at $100. Managing partner Gatis Eglitis claims they are now getting 20 calls a day from large asset managers looking to invest up to $100m."

hope they know what ant hole they are creeping into