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

[Biodom]

Honestly if Circle suddenly wants back into the crypto game by buying Poloniex, then they must think that they are going to make a killing in the future. And fyi Circle is partially owned by Goldman Sachs.

Something big is coming.

But... at only $400 million it is a steal. The only thing I can think that explains the deal it is that Poloniex owners have already made a killing and just want to exit with their asses fully covered (the contract will probably show that).

What I mean is that it is not like they had paid 10 billion (Instagram) or something like that which would clearly represent their willingness to have some REAL skin in the game.

I consider it "somewhat" bullish though... but not terribly bullish.

I agree, what is $400 mil when, according to rumors, they had $250 mil in revenue last quarter.
With lots of customer complains (although I liked their trading interface), they brought it as far as they could, possibly.
Now Circle will muck it up with stupid tries of "upsell".

[1634786489]

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[RoomBot]

QUIT your dirty dollar habit with BTC

It's War-Free!

[bitserve]

Honestly if Circle suddenly wants back into the crypto game by buying Poloniex, then they must think that they are going to make a killing in the future. And fyi Circle is partially owned by Goldman Sachs.

Something big is coming.

But... at only $400 million it is a steal. The only thing I can think that explains the deal it is that Poloniex owners have already made a killing and just want to exit with their asses fully covered (the contract will probably show that).

What I mean is that it is not like they had paid 10 billion (Instagram) or something like that which would clearly represent their willingness to have some REAL skin in the game.

I consider it "somewhat" bullish though... but not terribly bullish.

I agree, what is $400 mil when, according to rumors, they had $250 mil revenue last quarter.
With lots of customer complains (although I liked their trading interface), they brought it as far as they could, possibly.
Now Circle will muck it up with stupid tries of "upsell".

Revenue is not profit but, a standard way to calculate the (fundamental) value of a business is the accumulated past and expected profit for the next 20 years (in traditional sectors). In high risk sectors like crypto that can be reduced to much less though, ie: 10 years.

Any way it is calculated, it seems that $400 million for Polo is a bargain... but we don't really know the details of the contract nor the real sell price. It's just all rumors.

[Biodom]

Honestly if Circle suddenly wants back into the crypto game by buying Poloniex, then they must think that they are going to make a killing in the future. And fyi Circle is partially owned by Goldman Sachs.

Something big is coming.

But... at only $400 million it is a steal. The only thing I can think that explains the deal it is that Poloniex owners have already made a killing and just want to exit with their asses fully covered (the contract will probably show that).

What I mean is that it is not like they had paid 10 billion (Instagram) or something like that which would clearly represent their willingness to have some REAL skin in the game.

I consider it "somewhat" bullish though... but not terribly bullish.

I agree, what is $400 mil when, according to rumors, they had $250 mil revenue last quarter.
With lots of customer complains (although I liked their trading interface), they brought it as far as they could, possibly.
Now Circle will muck it up with stupid tries of "upsell".

Revenue is not profit but, a standard way to calculate the (fundamental) value of a business is the accumulated past and expected profit for the next 20 years (in traditional sectors). In high risk sectors like crypto that can be reduced to much less though, ie: 10 years.

Any way it is calculated, it seems that $400 million for Polo is a bargain... but we don't really know the details of the contract nor the real sell price. It's just all rumors.

thanks for the lecture :/
I am sure they have a hefty profit margin.

[yefi]

The thing is none of those addresses include, obviously, the virgin blocks (never moved) presumably mined by satoshi.

All the accusation seems to have been based on documentation and testimony provided by Wright, which has a track of compulsive lies and forging of documents.

The plot thickens.

This is the most ridiculous thing about it. They claim it's undeniable that they were involved since the inception, but it's all based on evidence (I use the word loosely) brought forth by Wright, a man whom they even accuse of forging and backdating documents.

[bitserve]

The thing is none of those addresses include, obviously, the virgin blocks (never moved) presumably mined by satoshi.

All the accusation seems to have been based on documentation and testimony provided by Wright, which has a track of compulsive lies and forging of documents.

The plot thickens.

This is the most ridiculous thing about it. They claim it's undeniable that they were involved since the inception, but it's all based on evidence (I use the word loosely) brought forth by Wright, a man whom they even accuse of forging and backdating documents.

Yup. It has some clear basis on the claim over IP though (we positively do know that Wright has registered a lot of patents that presumably come from the joint effort of the two through one of the business). But... the Bitcoins? Donno. They are not the Bitcoins we always thought belonged to Satoshi, but different ones. OTH, It makes some sense to try to claim a compensation based only on Wright own admissions (either true or not). Let's see what he has to say when the trial comes....

I wonder if popcorn futures are rising due to continuous Bitcoin drama.

[HairyMaclairy]

Craig is a clown and best ignored as nothing he has said or done will be shown to be of any consequence. 

[bitserve]

Craig is a clown and best ignored as nothing he has said or done will be shown to be of any consequence.  

Oh, there will be a consequence of all this. He will either come out OFFICIALLY as a lier fraudster or as a thief fraudster. Or all the above. There's no way out of this for him.

[vanobe]

Craig is a clown and best ignored as nothing he has said or done will be shown to be of any consequence. 

Oh, there will be a consequence of all this. He will either come out OFFICIALLY as a lier fraudster or a thief fraudster. Or all the above. There's no way out of this for him.

The court case will probably drag on for years, and he can keep bullshitting until it's over.

[smartcomet]

nice picture,+1 Merit.

November 2016:

[JayJuanGee]

Best thread ever  

yup

good luck reading it all though

LOL, If he starts reading it now from the beginning, bitcoin will be on the moon and he can't finish this thread yet. It's a huge more than the manga of One piece.  

 IDK.  Strategic use of the ignore button and he could easily finish before moon.

If he just /ignored talkie man, nazi silver man and like 1-2 others that would be 75+% of the thread right there.

I resemble that statement, you fuck.   

[Toxic2040]

percolating

[JayJuanGee]

Craig is a clown and best ignored as nothing he has said or done will be shown to be of any consequence.  

Oh, there will be a consequence of all this. He will either come out OFFICIALLY as a lier fraudster or as a thief fraudster. Or all the above. There's no way out of this for him.

Maybe all of this will cause Wright to look like the good guy? - that is if the Kleiman estate is actually bringing legal claims against Wright and giving him additional publicity and drama without really having any decent evidence besides speculations that are built upon Wright's flamboyant and misleading marketing assertions?

[HairyMaclairy]

Ok. I can't figure out what's going on with the mempool, pending transaction fees, or unconfirmed transaction counts.

We're in fucking bat country again, Goddamnit.

We are hanging in balance which means we have lost momentum which means we are going down again.  Unless we can somehow magically stay here for the next two days and consolidate sideways.  Which seems unlikely but could happen.

[RoomBot]

I sense a disturbance in the blockchain.

I have a feeling we're setting up for moonshot this week.

The Force runs deep in you, Black Jedi!

written with love, respect & reverence
not /s - not racist.

The BTC Universe is in motion!

CCMF

Next week: 3rd Annual Blockchain Hackathon & Summit in Wash DC

followed by next BTC ATH on March 9.

 

[jojo69]

Ok. I can't figure out what's going on with the mempool, pending transaction fees, or unconfirmed transaction counts.

We're in fucking bat country again, Goddamnit.

big motherfucking worm man

[JayJuanGee]

I sense a disturbance in the blockchain.

I have a feeling we're setting up for moonshot this week.

The Force runs deep in you, Black Jedi!

written with love, respect & reverence
not /s - not racist.

The BTC Universe is in motion!

CCMF

Next week: 3rd Annual Blockchain Hackathon & Summit in Wash DC

followed by next BTC ATH on March 9.

 

Oh?   Go figure!!!!!


I wonder how you randomly chose 3/9 as the next ATH?      You are thinking $20k or $25k or some other number on that date? 

I sense your input on this new ATH topic is filled with unbiasedness and objectivity..... more than the normally objective and unbiased WO thread poster... ?
  hahahahahaha   

[Toxic2040]

mewn

[Torque]

I wonder if popcorn futures are rising due to continuous Bitcoin drama.

I would totally trade a popcorn futures based coin merge mined with Bitcoin drama.

November 2016:

And yet two years later they'll buy Poloniex. You know, just in case. 

[Rosewater Foundation]

I can't believe I'm only reading this now.
http://vu.hn/bitcoin%20origins.html#start
According to this Craig sent him coins for safekeeping and he accidentally deleted them. Then he purposefully deleted his own coins.

So I told (2), "While I was in Christchurch I had a hard-drive failure and lost the data. Hope you had a back-up".

There was a large pause before the next email arrived.

"What do you mean 'had a hard-drive failure and lost the data' ?" (2) asked.

Edit: still reading, false alarm, the coins were returned to Craig