Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gkv9]

Yes, according to the post on Bloomberg, they say that Tim has different projects and each of his projects need about BTC300 investment from his own stuff in order for them to evaluate and meet the goals, maybe that's why he still is interested to buy the whole Silk Road stuff if he's able to do so.

Yeah 300btc to each company that goes through his son Adam's Boost VC program. I wonder if they're primarily bitcoin enterprises or just starting to build business via btc injection rather then the cash style.

Not only limited to that, but Tim must be thinking the same as all of us that when we lose, buy it again low and then sell high to recover, the guy's already in a loss of almost $10 million, then why he won't take it that hard? He already tried his best, but who knows, what surprises are still awaiting for everyone, behind the curtains?

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[JimboToronto]

Tim must be thinking the same as all of us that when we lose, buy it again low and then sell high to recover, the guy's already in a loss of almost $10 million, then why he won't take it that hard? He already tried his best

He has clearly stated that he bought his coins to provide liquidity to several of the Bitcoin-based startups he is backing.

He didn't buy his coins to sell them. He bought them to use them.

If indeed he only bought 2000 coins this time, he'll need to buy more to meet his needs. The last thing he'd want to do is buy them at an exchange though.

[Newbie1022]

I like how rumors are actually being developed in these conversations about the price. Then somebody lazily reads one of the posts and then carries it on. Frankly, we don't know what the price on the coins were. Could be up, could be down... I think down, but that's just a guess. What we do know is that the coins went to more than one bidder and maybe quite a few bidders. Some may have even landed in the hands of this guy...

[Davyd05]

I like how rumors are actually being developed in these conversations about the price. Then somebody lazily reads one of the posts and then carries it on. Frankly, we don't know what the price on the coins were. Could be up, could be down... I think down, but that's just a guess. What we do know is that the coins went to more than one bidder and maybe quite a few bidders. Some may have even landed in the hands of this guy...

you know how bullish that is, the Joker burns his currencies he's gonna lose the keys foreverrrrrrrrrrrrr wooo

[Newbie1022]

I like how rumors are actually being developed in these conversations about the price. Then somebody lazily reads one of the posts and then carries it on. Frankly, we don't know what the price on the coins were. Could be up, could be down... I think down, but that's just a guess. What we do know is that the coins went to more than one bidder and maybe quite a few bidders. Some may have even landed in the hands of this guy...

you know how bullish that is, the Joker burns his currencies he's gonna lose the keys foreverrrrrrrrrrrrr wooo

Hahahahahaha

[ChartBuddy]

Explanation

[tarmi]

well, this auction didnt go well like the last time when we had that inpatient noob outbidding all other players.

less bidders this time, coins distributed evenly...I find that bearish.

[gkv9]

Tim must be thinking the same as all of us that when we lose, buy it again low and then sell high to recover, the guy's already in a loss of almost $10 million, then why he won't take it that hard? He already tried his best

He has clearly stated that he bought his coins to provide liquidity to several of the Bitcoin-based startups he is backing.

He didn't buy his coins to sell them. He bought them to use them.

If indeed he only bought 2000 coins this time, he'll need to buy more to meet his needs. The last thing he'd want to do is buy them at an exchange though.

Ain't he gonna sell them for fiat ever for his own profit? Agree that he is buying them to use them to fulfill his needs, but what is he gonna buy with BTC as they ain't available at most of the places where Commercial Officials throw in money... I said that because I feel he is also a human who is packing loads of coins in order to be in the rich list, which he already is currently like the Winklevoss brothers... Would love to hear from you if I am wrong in my point...

[Bagatell]

I find that bearish.

I not surprised.  

[itod]

There's also a factor of next few auctions looming on the horizon very soon, which may lead to more secrecy about the bids since the figures may be used in the next auction. Last time this was not a factor and we knew the exact prices very quickly, this time we may not find all the prices at all.

[rebuilder]

well, this auction didnt go well like the last time when we had that inpatient noob outbidding all other players.

less bidders this time, coins distributed evenly...I find that bearish.

Alternatively, most bidders bid high this time, and the lowballers didn't bother bidding, having learned their lesson from the last auction.

We don't know who won what at what price, and most likely we won't unless the winners are publicly traded companies and the buys show up in their quarterly reports. USMS isn't telling.

[phoenix1]

Tim must be thinking the same as all of us that when we lose, buy it again low and then sell high to recover, the guy's already in a loss of almost $10 million, then why he won't take it that hard? He already tried his best

He has clearly stated that he bought his coins to provide liquidity to several of the Bitcoin-based startups he is backing.

He didn't buy his coins to sell them. He bought them to use them.

If indeed he only bought 2000 coins this time, he'll need to buy more to meet his needs. The last thing he'd want to do is buy them at an exchange though.

Yes

The news clearly states that he bought them to the fund start-ups of his son's VC company, Boost

https://www.boost.vc/about

Boost VC is the Bitcoin accelerator. We invest in 20-30 companies twice a year for three months. We provide housing and office space for each company located in the heart of Silicon Valley. We put talent, passion and drive alongside seasoned entrepreneurs and investors to build world changing companies.

By 2017 Boost will accelerate 100 Bitcoin companies

So he's got more than 2 years to buy 30,000 BTC if they reach their target number of start-ups. Given that timeline, hardly surprising he did not go gung-ho in this auction. He's got pleeeeeenty of time. Many of the comanies he intends to fund probably don't even exist yet lol

Great news that these companies will be nurtured, but I doubt he is sweating right now about when and where he will buy his BTC.
He needs about 7,500 coins every 6 months. I think the market can probably handle that.

But hey, 'as you were', never let facts get in the way the rumour mill  

Actually, let's be more accurate ...

http://dealbook.nytimes.com/2014/12/05/venture-capitalist-tim-draper-wins-small-piece-of-bitcoin-auction/?_r=0

“I will have to buy some more Bitcoin on the open market to fulfill my commitment to the NEW BATCH of Boost companies,” Mr. Draper said in an email

So he is saying he needs to 300 each coins for the next round of 20-30 companies ... approx ... 7500BTC. He got 2k. He needs about 5k more within the next 6 months lol
Speculate about how many he bid on and what he paid as much as you like, but if that was all he needs at some time in the next 6 months, what would you do ??
I speculate that he did not bid on anywhere near all of them and he did not bid too high. He is buying to meet his needs - the last lot all went to one venture he was funding, Mirror. That's what he does. He funds things and starts companies.

EDIT: He said NEW BATCH ... could already be ready for funding so, worst case, he needs 5k soon ... PANIC !!!

ANOTHER EDIT : Sorry ... stand down, no worst case ...

Draper said that Draper Associates will now provide 300 BTC to each startup that graduates Boost VC's next startup accelerator class as a result of the winning bid

http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/

Is it clear now ?

[BlindMayorBitcorn]

Nobody observing walls this morning? I see one has moved UP

[tarmi]

well, this auction didnt go well like the last time when we had that inpatient noob outbidding all other players.

less bidders this time, coins distributed evenly...I find that bearish.

Alternatively, most bidders bid high this time, and the lowballers didn't bother bidding, having learned their lesson from the last auction.

We don't know who won what at what price, and most likely we won't unless the winners are publicly traded companies and the buys show up in their quarterly reports. USMS isn't telling.

I think that Tim has learned his lesson from the last auction and didnt even bother to place all his bids near the market price.

others maybe did, but that doesnt change anything, because they are all bagholders already and all I see is even less demand despite the fact that we are in 3xx price range.

[phoenix1]

well, this auction didnt go well like the last time when we had that inpatient noob outbidding all other players.

less bidders this time, coins distributed evenly...I find that bearish.

Alternatively, most bidders bid high this time, and the lowballers didn't bother bidding, having learned their lesson from the last auction.

We don't know who won what at what price, and most likely we won't unless the winners are publicly traded companies and the buys show up in their quarterly reports. USMS isn't telling.

I think that Tim has learned his lesson from the last auction and didnt even bother to place all his bids near the market price.

others maybe did, but that doesnt change anything, because they are all bagholders already and all I see is even less demand despite the fact that we are in 3xx price range.

I think he needed ALL the coins last time to fund Mirror so he made damn sure he got them
This time round he needed less, so he bid for less and was more conservative ... this guy is not a complete fool

[ChartBuddy]

Explanation

[Newbie1022]

1-2-3... dumpster fire!!! Predicting a dumpster fire within the next week. 

[bitcoinmining]

The majority of people think that the price will pass $390 on Monday, we'll see

[phoenix1]

The BTC market right now ...

https://www.youtube.com/watch?v=DohRa9lsx0Q

[gkv9]

The majority of people think that the price will pass $390 on Monday, we'll see

It may go higher than $390 pertaining to the news that everyone's watching that the auctioned coins were bought above the market price...