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JorgeStolfi
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June 20, 2015, 02:32:29 AM |
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There's been hundreds of millions of usd invested in bitcoin startups. I sometimes wonder if even one or two of these entities or their investors are using a few mil to stave off further declines. Not trying to run a rally all by themselves, but putting a floor, and at least sow some doubt in the minds of weak handed hodlers and shotrers.
Charles Lee (Litecoin's mommy, now at Coinbase) was once asked that in a reddit AMA. He explained that Coinbase cannot use any of their VC capital for that purpose. I am not sure, but there may even be laws in the US that prohibit a startup from using its VC capital for speculation or to invest in other things. Perhaps because of tax reasons. It also does not make sense for VC investors to give several million of their money to some computer nerds for them to play the market. If the VC investor wanted to speculate with his money, he would do it himself, or hire experienced traders. However a company that wants to start a bitcoin fund may legitimately buy bitcoins. IIRC, when Tim Draper bought the first batch of USMS bitcoins, he said that they would provide liquidity for a company called Vaurum (that Nick Szabo worked for, BTW) and now has some other name. |
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ChartBuddy
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Activity: 2576
Merit: 2210
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June 20, 2015, 02:57:11 AM |
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Cconvert2G36
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June 20, 2015, 03:09:15 AM
Last edit: June 20, 2015, 03:34:08 AM by Cconvert2G36 |
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There's been hundreds of millions of usd invested in bitcoin startups. I sometimes wonder if even one or two of these entities or their investors are using a few mil to stave off further declines. Not trying to run a rally all by themselves, but putting a floor, and at least sow some doubt in the minds of weak handed hodlers and shotrers.
Charles Lee (Litecoin's mommy, now at Coinbase) was once asked that in a reddit AMA. He explained that Coinbase cannot use any of their VC capital for that purpose. I am not sure, but there may even be laws in the US that prohibit a startup from using its VC capital for speculation or to invest in other things. Perhaps because of tax reasons. It also does not make sense for VC investors to give several million of their money to some computer nerds for them to play the market. If the VC investor wanted to speculate with his money, he would do it himself, or hire experienced traders. However a company that wants to start a bitcoin fund may legitimately buy bitcoins. IIRC, when Tim Draper bought the first batch of USMS bitcoins, he said that they would provide liquidity for a company called Vaurum (that Nick Szabo worked for, BTW) and now has some other name. My speculation leaned towards the high net worth individuals who owned stakes in these firms, pushed the investments in bitcoin companies, and shouldn't be legally required to report their activities when using personal funds. Edit: redundancy and first 400 coin miniwall at 241.5 (eaten) |
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Sitarow
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June 20, 2015, 03:19:18 AM
Last edit: June 20, 2015, 04:15:37 AM by Sitarow |
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 15 Mins Later  40 Mins Later  |
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ChartBuddy
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June 20, 2015, 03:57:27 AM |
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AceWallen
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June 20, 2015, 04:24:54 AM |
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what's gonna happen with this coinwallet.eu stress test? sounds like it could cause a panic.  |
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JorgeStolfi
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June 20, 2015, 04:28:08 AM |
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what's gonna happen with this coinwallet.eu stress test? sounds like it could cause a panic. There is a thread on reddit about it. |
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Stevenirving
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June 20, 2015, 04:37:39 AM |
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what's gonna happen with this coinwallet.eu stress test? sounds like it could cause a panic. I am really wondering if this will cause a price shift on Monday. |
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shmadz
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@theshmadz
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June 20, 2015, 04:39:00 AM |
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Just wanted to wish the short term traders congratulations and best of luck. These are the kind of moves that will save your week.  Beautiful retracement there, might want to cover now? ------------ On the other hand, I would like to reiterate what I'm seeing long term:  This looks like a bottom consolidation to me.. but I am full enough that I will wait for better prices, and I think many others are in the same boat. Block reward does not change for at least one more year, patience seems to rule the day, boring as that may be. |
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ChartBuddy
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June 20, 2015, 04:57:13 AM |
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ChartBuddy
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June 20, 2015, 05:58:30 AM |
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marrw
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June 20, 2015, 06:02:24 AM |
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Well, now i'm really confused. It seems we bounced from the upper trendline, so the price can only go down now... Huobi chart shows it very well: https://i.imgur.com/0yOUoJH.pngBut what gives hope, are those strong, and not faked BID walls on finex. Problably someone want to buy significant amount of btcs and not bring price to the moon  |
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ChartBuddy
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June 20, 2015, 06:57:33 AM |
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inca
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June 20, 2015, 06:58:18 AM |
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Lots of coins sold to bring us back to 240. Shorts up a fair bit. Let's see if we snap back.
I'll buy if we dip to the 230's.
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ChartBuddy
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June 20, 2015, 07:57:20 AM |
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Elwar
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Viva Ut Vivas
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June 20, 2015, 08:19:06 AM |
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So it looks like we have a solid window between $240 and $250 for a while.
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luckygenough56
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June 20, 2015, 08:56:09 AM |
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0 demand.
Ridiculous inflation.
Broken fundamentals.
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ChartBuddy
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June 20, 2015, 08:57:12 AM |
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dHe_zHiq
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I'm Just Try
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June 20, 2015, 09:16:14 AM |
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So it looks like we have a solid window between $240 and $250 for a while.
any time can be changed, we will not know what will happen with the next bitcoin prices |
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ChartBuddy
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June 20, 2015, 09:57:10 AM |
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Poll
