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

[aztecminer]

So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.

Cherish this day: Coinbase will announce to openly buy Bitcoins with the VC money.

They don't have to do that nor should they. It doesn't mean they won't do that as that reckless "moon" stunt proved, but hopefully they can be more subtle. All they need to do is keep the btc they earn as fees in a reserve account and use the VC money to meet operating expenses. The effect is the same as buying bitcoins. (because they are not selling coins they otherwise would sell.)

Operating expenses is not the same thing as paying out merchants who want cash.

of course it isn't the same. Who is saying it is? Who is saying they have any plans to cash out vendors with VC money?

I think there is a strong possibility. It's the obvious thing to do. Can even be part of their "business model"...

They need to spend that money getting licensed in the states they don't operate in yet.

yeah.........like mine.

[1715071570]

1715071570

[JorgeStolfi]

That doesn't mean they won't use them to pay out merchants and keep the Bitcoins, which for all intents and purposes is the same thing. And they can change their mind or have lied.

VC investors are somtimes stupid, but not so stupid that they would not see through that ruse.

Operating expenses is not the same thing as paying out merchants who want cash. The only expenses they have are hosting and salaries and if they need VC money for that they would be a failure from the beginning.

Not sure what you meant "for that", but office space, servers, software, and salaries are not that cheap.  Plus they need to pay lawyers, security, insurance, and marketing -- which can easily be more expensive than the first group.  VC is usually intended to pay for such expenses for a couple of years at least, until the company gets enough revenue to cover them.

[Hazir]

I am familiar with this auction. But I am not sure if this event is already over already? And I can tell you that auctions are pretty tricky. After all you can buy something not so cheap when there are strong competition going. So bitcoins obtained that way could be not so cheap...

[Cassius]

I am familiar with this auction. But I am not sure if this event is already over already? And I can tell you that auctions are pretty tricky. After all you can buy something not so cheap when there are strong competition going. So bitcoins obtained that way could be not so cheap...

Last time it was a blind auction. We don't know the winning bid even today. Though I'm thinking Tim Draper probably regrets it a little.

[thefunkybits]

What time do auction details get released?

[hdbuck]

[damiano]

At least the USD swap rate is inching lower

[picolo]

And there we go again to 290$ then a bit higher, it has been like that for weeks.

[Erdogan]

So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.

If it ain't, then why is it still in the talks and making people think they will see some hikes because of this?
Everyone's talking about the roller-coasters, I think we should let them talk and the naked price action will speak soon.

You are true, there's actually nothing surprising as there are exchanges where whales can buy those many coins without just going for an auction and harm their anonymity...

At best there is a small risk reduction after the auction is finished, the fiat paid and everyone is happy. That means, after the completion, sell the news. But sell what? Bitcoin or dollars?

[damiano]

So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.

If it ain't, then why is it still in the talks and making people think they will see some hikes because of this?
Everyone's talking about the roller-coasters, I think we should let them talk and the naked price action will speak soon.

You are true, there's actually nothing surprising as there are exchanges where whales can buy those many coins without just going for an auction and harm their anonymity...

At best there is a small risk reduction after the auction is finished, the fiat paid and everyone is happy. That means, after the completion, sell the news. But sell what? Bitcoin or dollars?

Anyone putting up this kind of capital is a serious invester.  No one is going to buy these and dump them right away.

[Kupsi]

What time do auction details get released?

Maybe never.

[gkv9]

So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.

If it ain't, then why is it still in the talks and making people think they will see some hikes because of this?
Everyone's talking about the roller-coasters, I think we should let them talk and the naked price action will speak soon.

You are true, there's actually nothing surprising as there are exchanges where whales can buy those many coins without just going for an auction and harm their anonymity...

At best there is a small risk reduction after the auction is finished, the fiat paid and everyone is happy. That means, after the completion, sell the news. But sell what? Bitcoin or dollars?

Anyone putting up this kind of capital is a serious invester.  No one is going to buy these and dump them right away.

Then, what makes the price start falling freely during the so-called Auction days? Anyways, I think this one's the last, and so expecting something very much unexpected.

[Kupsi]

I am familiar with this auction. But I am not sure if this event is already over already? And I can tell you that auctions are pretty tricky. After all you can buy something not so cheap when there are strong competition going. So bitcoins obtained that way could be not so cheap...

Last time it was a blind auction. We don't know the winning bid even today. Though I'm thinking Tim Draper probably regrets it a little.

Last time he only bought 2k. But the first time...

[ChartBuddy]

Coin
Explanation

[maku]

I wouldn't be so sure I see that barrier of $285 is too much for now. Bitcoin is way under $300 threshold since couple months now. Some really optimistic news are needed to bring back trust in bitcoin.

[hdbuck]

I wouldn't be so sure I see that barrier of $285 is too much for now. Bitcoin is way under $300 threshold since couple months now. Some really optimistic news are needed to bring back trust in bitcoin.

nahh, make it some really bad news for global finance...

[Fatman3001]

So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.

If it ain't, then why is it still in the talks and making people think they will see some hikes because of this?
Everyone's talking about the roller-coasters, I think we should let them talk and the naked price action will speak soon.

You are true, there's actually nothing surprising as there are exchanges where whales can buy those many coins without just going for an auction and harm their anonymity...

At best there is a small risk reduction after the auction is finished, the fiat paid and everyone is happy. That means, after the completion, sell the news. But sell what? Bitcoin or dollars?

Anyone putting up this kind of capital is a serious invester.  No one is going to buy these and dump them right away.

Then, what makes the price start falling freely during the so-called Auction days? Anyways, I think this one's the last, and so expecting something very much unexpected.

Shrewd dumpers and bad nerves

[PunkAssBiotch]

can't even go to $300?

http://i60.tinypic.com/28m1k43.jpg

do you guys think we will go still below $300  

https://i.imgur.com/DM7i0gA.jpg

http://chineseposters.net/images/e15-478.jpg

INSANE TREND REVERSAL/RALLY TO:


$680

$580

$480

$380

$280



CONFIRMED!!!!!

MAYBE IT EVEN GOES TO $380 THIS TIME BEFORE CRASHING AGAIN!!!!!!

MOOOOOOOOOOOOooooOOOoooOOOON




http://s21.postimg.org/u8c3g8n87/wileec2.gif

[YourMother]

Inside the mind of a bitcoiner




"Join my cult or i will fucking kill you!"

[thefunkybits]

Didn't take too long for shorts to start piling back on  

15K to 20K in less than 24 hours