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MatTheCat
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June 25, 2014, 09:02:09 PM |
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This auction has been pretty useful for me. It's highlighted the stupidly of people on this forum that (a) think they will go for significantly below market price and, (b) even worse, think they will be immediately dumped on the exchanges.
The above post has been pretty useful for me. It has highlighted the stupidity of people on this form that think (a) they will go for significantly above the market price and, (b) even worse, think they won't be immediately dumped on the exchanges. What is the name again of the nice lady at BNP Paribas who is bidding for the coins? You know, the one that works in the arbitrage department? |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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bangersdad
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June 25, 2014, 09:05:54 PM |
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The fact that they are being sold by USMS makes them far far more attractive to institutional investors who have been nervous about the grey areas of legality with btc and they will be queuing round the block to bid on them...
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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June 25, 2014, 09:08:17 PM |
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We should probably start defining what we mean by "above market" or "below market".
Since the announcement of the auction, daily median has fluctuated between, what, 650 and 550? Something like that, I think.
So, new rule: if you say "they'll sell above/below market", you better specify the actual price, otherwise that prediction is sounding a bit fuzzy.
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Dragonkiller
Sr. Member
Offline
Activity: 378
Merit: 250
Super Smash Bros. Ultimate Available Now!
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June 25, 2014, 09:09:15 PM |
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This auction has been pretty useful for me. It's highlighted the stupidly of people on this forum that (a) think they will go for significantly below market price and, (b) even worse, think they will be immediately dumped on the exchanges.
The above post has been pretty useful for me. It has highlighted the stupidity of people on this form that think (a) they will go for significantly above the market price and, (b) even worse, think they won't be immediately dumped on the exchanges. What is the name again of the nice lady at BNP Paribas who is bidding for the coins? You know, the one that works in the arbitrage department? Oh it's Mat, I'm still laughing from your bitching about bitfinex. Everyone knows they're shady as fuck, why do you keep using them?! Anyway, the nice man at BNP is almost certainly planning to buy them as a personal investment. |
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JorgeStolfi
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June 25, 2014, 09:10:29 PM |
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The US Government auctioned the coins now because it is not supposed to hold on to seized property. This is a factual error. The USG often retains seized property and uses it as it sees fit. It's one of the perks of being allowed to seize property. If you like something, you take it. If they can't afford a law suit to get it back, it's all candy. I stand corrected: they are not supposed to hold on to property which they cannot use for public good in some way. (Note, "supposed to", of course.) |
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aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
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June 25, 2014, 09:16:18 PM |
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The US Government auctioned the coins now because it is not supposed to hold on to seized property. This is a factual error. The USG often retains seized property and uses it as it sees fit. It's one of the perks of being allowed to seize property. If you like something, you take it. If they can't afford a law suit to get it back, it's all candy. I stand corrected: they are not supposed to hold on to property which they cannot use for public good in some way. (Note, "supposed to", of course.) The key is to only rob poor people. Typically when wealthy people are targeted in this way, it turns out badly for law enforcement. Although rarely as badly as it should. |
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fonzie
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June 25, 2014, 09:18:10 PM |
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Bitstamp: You shall not get close to 570$ ! or i will dump on you  |
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edwardspitz
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June 25, 2014, 09:18:40 PM |
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'tis a bearish pennant, or just Stamp following sleepy Huobi?  It look like you were right. Thanks for sharing that! |
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justusranvier
Legendary
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Activity: 1400
Merit: 1009
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June 25, 2014, 09:27:48 PM |
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Those "regulated Bitcoin exchanges" on Wall Street are going to do to the price of Bitcoin what they do to the price of gold.
They'll be happy to take your real Bitcoins and give you dollars they borrowed into existence, and they'll be happy to give you paper Bitcoins for your Dollars, but when it comes time to actually redeem your paper Bitcoins for real ones it will turn out they won't have any.
Just like how the NY Fed doesn't have Germany's gold.
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EuroTrash
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June 25, 2014, 09:29:22 PM
Last edit: June 25, 2014, 10:15:03 PM by EuroTrash |
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'tis a bearish pennant, or just Stamp following sleepy Huobi? It look like you were right. Thanks for sharing that! Don't know, that was a single dump. More like a single hand trying to "fit" the figure. EDIT: yup. Went by the book. |
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kireinaha
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June 25, 2014, 09:33:02 PM |
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I think it's pretty clear that we're going to remain flat or slightly downward for the next few weeks or months. There are way too many market players who -- for whatever reason -- are doing their best to keep the price low. It doesn't matter. Within a few short years, anyone holding 10 bitcoins or more will be able to retire and live out their lives on a tropical island if they so choose.
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JorgeStolfi
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June 25, 2014, 09:35:03 PM |
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The Winklevoss ETF is not yet selling shares, is it?
Can US citizens/residents buy shares of SMBIT and PBP? (AFAIK, SMBIT must explicitly authorize each client, and shares cannot be sold or transferred without their authorization. Do they authorize if the client is a US resident?)
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JorgeStolfi
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June 25, 2014, 09:39:40 PM |
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Those "regulated Bitcoin exchanges" on Wall Street [ will ] be happy to take your real Bitcoins and give you dollars they borrowed into existence, and they'll be happy to give you paper Bitcoins for your Dollars, but when it comes time to actually redeem your paper Bitcoins for real ones it will turn out they won't have any.
I had understood that NASDAQ or other "Wall Street exchanges" would let people trade shares of bitcoin based investment funds like SMBIT and the Winklevoss ETF, not bitcoins directly. Or are there plans to have both? |
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edwardspitz
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June 25, 2014, 09:39:45 PM |
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'tis a bearish pennant, or just Stamp following sleepy Huobi? It look like you were right. Thanks for sharing that! Don't know, that was a single dump. More like a single hand trying to "fit" the figure. But it is now starting to look more like your theory about the bearish pennant was correct because Houbi hardly took notice. |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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June 25, 2014, 09:52:36 PM |
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seriously puzzled by the selling pressure, oh well more for me.
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edwardspitz
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June 25, 2014, 09:55:47 PM |
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seriously puzzled by the selling pressure, oh well more for me.
Someone wants to short on Finex I think... |
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akujin
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June 25, 2014, 09:58:34 PM |
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boom! die! hahaha!  |
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ShroomsKit
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June 25, 2014, 09:59:02 PM |
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Man, this non stop dumping...
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aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
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June 25, 2014, 09:59:59 PM |
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seriously puzzled by the selling pressure, oh well more for me.
Someone wants to short on Finex I think... more like, someone wants to cover their short at the best possible price, before it is too late. monkey says the next 3 hours look grim. |
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CoinHamster
Member
Offline
Activity: 101
Merit: 10
฿ ฿ ฿ ฿ ฿
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June 25, 2014, 10:00:16 PM |
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 ...this is a perfect time to panic! |
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