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

[billyjoeallen]

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.

[SkyValeey]

All 3 - Kim, Adam, karpeles - fat fucks! won't see any of them at gym or running lol.
But in macdonalds - oh yes

[ElectricMucus]

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.

[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...

[JorgeStolfi]

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.

Charles Lee was asked about that, he said that they cannot use their VC to play the market. (Which makes obvious sense.  Why would you give your money to someone else, for him to gamble with?)

[ElectricMucus]

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.

Charles Lee was asked about that, he said that they cannot use their VC to play the market. (Which makes obvious sense.  Why would you give your money to someone else to gamble at Las Vegas?)

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.

[billyjoeallen]

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.)

[ElectricMucus]

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. 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.

[sAt0sHiFanClub]

keep the btc they earn as fees in a reserve account and use the VC money to meet operating expenses.

Yeah, thats what VC's do all the time - "here is some cash, please burn it as quickly as you can....  on DA WAY TO DA MOON!!"

Talk sense, man!

[billyjoeallen]

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?

[ElectricMucus]

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"...

[dakota neat]

with the next leg up fomo will kick in hard

[billyjoeallen]

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.

[ChartBuddy]

Coin
Explanation

[Cassius]

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.

Surely there are enough ways to buy off-exchange? Anyone with a lot of money would want to explore those before buying from Coinbase/Stamp wherever. I suppose the auction is the only sure way to get hold of a very large slab of coins at once, but buying on an exchange would be a last resort.

[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.

[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?