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

[bigasic]

Don't know if anyones mentioned this or not, but maybe all the buying that would normally be taking place right now is on hold because they are waiting to see if they win their bid, if they don't they will go back to buying. So, if im right, that means after the bidding is done, we will see a massive spike because the big buyers will be back to buying and not trying to win that bid that costs millions of dollars.

[1715464026]

1715464026

[1715464026]

1715464026

[1715464026]

1715464026

[1715464026]

1715464026

[derpinheimer]

People go to auctions to buy things at discount.  Not at narket price.  Not above market price.  Especially sealed bids where there is no rush to immediately beat the guy who just outbid you.

To be fair, buying 30k BTC is not possible at market price.. so bidding at market or slightly above IS a discount.

[JayJuanGee]

So guys, 27th June.. we learn that the coins sold well above market, we should see a price to $650+ within hours after confirmation? And, on the other side (well below market) we should see a drop to $545 or less within hours after confirmation.

But what about the case where we dont know the results? Down? Up? We all know this market never responds to nothing by doing nothing.

I'm sure that several of the various winners are going to want to inform people about the price that they paid.  I doubt that they would be restricted from such publicity, after they have won.

So the marshals forgot to mention if or how and when they will announce the result? Well that's depressing (for the bitcoin price).

With the government there should be some additional transparency, and announcement, but it seems that "ought" versus "is" are two different stories.  Hopefully, the parties themselves are NOT restricted from announcing what they did or if they won and at what price.

[adamstgBit]

People go to auctions to buy things at discount.  Not at narket price.  Not above market price.  Especially sealed bids where there is no rush to immediately beat the guy who just outbid you.

given current market conditions and current events i wouldn't be surprised to hear a block went for as much as 140% over spot. but yes i agree probably  most will sell for some discount, how much of a discount we will never know, doesn't matter, this kind of OTC sale happens often, this might be the biggest one at these price levels, maybe not idk... I see everyone thinking about the sale, market trying to "price in" the FBI coins and its silly, time to buy.

[Raystonn]

If you put in a market order for 17K BTC on Bitstamp, you'd run the price up to $2400 per coin.  There'd be no more coins on offer.  It's not possible to buy that many coins at market price.  It would take quite a long time to accumulate that many with limit order bids.

[JayJuanGee]

Anyone else notice how all the bitcoin high priests and cheerleaders have been conveniently absent for the past couple weeks? The exponential log charts have been tucked into suitcases and the purveyors of these bitcoin pipe dreams are heading onto the next big thing. Makes you wonder... all of us still holding... are we the bag holders afterall?

Ask yourself that question, you've been one of the biggest bitcoin cheerleaders lately convinced the price was going to explode upwards. Funny how these types are the first to lose faith and do a complete turnaround. Better let go of that heavy bag of yours and let someone take it who can handle it and have more realistic expectations of bitcoin.

You might have me confused with someone else, friend. I'm typically pessimistic or mildly enthusiastic at best, but my outlook changes on a weekly basis. I honestly can't remember all that I've written in the past, but I've never promised anyone riches and if you look back enough, there have been times that I claimed we're all late adopters and missed the train. I'm feeling that way again now.

I don't think so, here are some of your own posts lately:

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.

According to the logistic model, we'll be there by the end of 2015. Anyone who owns at least 5 coins now will be rich by 2016.

Even the most vocal haters are coming around and embracing bitcoin. Yup, this next rally is going to be epic.

But the strange thing is, you seem to lose your entire faith in the above whenever the price is going down a bit:

has the exponential growth trend broken? Maybe it's seriously time to re-assess the future of bitcoin growth.

And now you seem to be losing faith again. Please make up your mind and grow some balls.

+1... thanks for that Miz4r....

[ShroomsKit]

I learned something while reading here.
And that is that nobody and i really mean nobody has a fucking clue what they are talking about.
Anybody who uses this thread to know when to buy and sell might as well throw some dice or darts. The results will probably better.
All these "facts" and charts and lines and people acting like they know it all.
It really isn't much better than the Btce troll box here. A bit more civilized maybe but in the end it's nothing but idiots screaming BUY BUY BUY SELL SELL SELL! We all do it in one way or the other.
Also hilarious how everyone is an auction expert suddenly. And a China expert and an expert in anything really.

[Erdogan]

Jorge became a cultist some time ago... I clearly remember that he wrote that he doubled (or tripled?) his BTC portfolio. Todays drop was clearly Jorge cashing out because he needed a little extra cash for the auction. 

Actually I did not buy nor sell any coins today, but the USD value of my holdings doubled again, nevertheless.   

When you sell, please don't sell all at once.

[bigasic]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

[adamstgBit]

I learned something while reading here.
And that is that nobody and i really mean nobody has a fucking clue what they are talking about.
Anybody who uses this thread to know when to buy and sell might as well throw some dice or darts. The results will probably better.
All these "facts" and charts and lines and people acting like they know it all.
It really isn't much better than the Btce troll box here. A bit more civilized maybe but in the end it's nothing but idiots screaming BUY BUY BUY SELL SELL SELL!
Also hilarious how everyone is an auction expert suddenly. And a China expert and an expert in anything really.

thats not going to stop anyone from speculating about price, it's a fun pastime, you know  

[adamstgBit]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

didnt know that

[ShroomsKit]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

Why is everyone so obsessed with this? The last 30 pages all people talk about is at what prices the coins will go? How is it even relevant? Someone may bid 550 now and we'll be at 500 tomorrow. So he is buying expensive coins and vice versa. It doesn't make any sense that the price of these coins are turning out to be the most important event of the year.

[adamstgBit]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

Why is everyone so obsessed with this? The last 30 pages all people talk about is at what prices the coins will go? How is it even relevant? Someone may bid 550 now and we'll be at 500 tomorrow. So he is buying expensive coins and vice versa. It doesn't make any sense that the price of these coins are turning out to be the most important event if the year.

its happening news!

[ShroomsKit]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

Why is everyone so obsessed with this? The last 30 pages all people talk about is at what prices the coins will go? How is it even relevant? Someone may bid 550 now and we'll be at 500 tomorrow. So he is buying expensive coins and vice versa. It doesn't make any sense that the price of these coins are turning out to be the most important event if the year.

its happening news!

There is way more news out there, way more interesting and relevant.

[JayJuanGee]

Don't know if anyones mentioned this or not, but maybe all the buying that would normally be taking place right now is on hold because they are waiting to see if they win their bid, if they don't they will go back to buying. So, if im right, that means after the bidding is done, we will see a massive spike because the big buyers will be back to buying and not trying to win that bid that costs millions of dollars.

If they do NOT win the bid, then it is probably pretty likely that the money that they had for bidding has been allocated for BTC purchasing.

[adamstgBit]

If you put in a market order for 17K BTC on Bitstamp, you'd run the price up to $2400 per coin.  There'd be no more coins on offer.  It's not possible to buy that many coins at market price.  It would take quite a long time to accumulate that many with limit order bids.

try spacing out your buys to you don't buy up 17K in 3 seconds, might get a better price
market depth is misleading
far more volume happends weekly then the total depth shown
but ya 20K quick buy in would bring price up considerably

[samsonn25]

If you put in a market order for 17K BTC on Bitstamp, you'd run the price up to $2400 per coin.  There'd be no more coins on offer.  It's not possible to buy that many coins at market price.  It would take quite a long time to accumulate that many with limit order bids.

Another problem with bitcoin.   Lack of liquidity means sketchy price.  And it's market cap if you can call it that is not backed by any collateral ed asserts or revenue.  Commodity.

[shmadz]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

Why is everyone so obsessed with this? The last 30 pages all people talk about is at what prices the coins will go? How is it even relevant? Someone may bid 550 now and we'll be at 500 tomorrow. So he is buying expensive coins and vice versa. It doesn't make any sense that the price of these coins are turning out to be the most important event if the year.

its happening news!

There is way more news out there, way more interesting and relevant.

link?

This auction is the most interesting thing in bitcoin to me right now. what do you have that is "way more interesting and relevant"?

I think the highest bid will be over 600 and the price of the auction will get leaked (I've never seen a more leaked "private" auction in my life) and then the market will spring in step to at least 800 before taking a breather.

but shroomsy is right about one thing, nobody knows what the fuck is going to happen until it happens.

[adamstgBit]

That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.

Why is everyone so obsessed with this? The last 30 pages all people talk about is at what prices the coins will go? How is it even relevant? Someone may bid 550 now and we'll be at 500 tomorrow. So he is buying expensive coins and vice versa. It doesn't make any sense that the price of these coins are turning out to be the most important event if the year.

its happening news!

There is way more news out there, way more interesting and relevant.

link?

This auction is the most interesting thing in bitcoin to me right now. what do you have that is "way more interesting and relevant"?

I think the highest bid will be over 600 and the price of the auction will get leaked (I've never seen a more leaked "private" auction in my life) and then the market will spring in step to at least 800 before taking a breather.

but shroomsy is right about one thing, nobody knows what the fuck is going to happen until it happens.

if you haven't been hitting the press sub-section daily your missing tons of news.

the auction makes for good speculation tho 

[samsonn25]

People go to auctions to buy things at discount.  Not at narket price.  Not above market price.  Especially sealed bids where there is no rush to immediately beat the guy who just outbid you. There is a strategy called cost averaging when trying to catch a falling knife.  Maybe these are investment companies using customer funds and don't care.  Idk

To be fair, buying 30k BTC is not possible at market price.. so bidding at market or slightly above IS a discount.

I think the bigger motivator for these people is buying the coins at a discount not the privilege of buying a whole bunch at one time.  With the prices dropping from 640 to 560 from last week the bids might get lower.