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

[bitrider]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

[1715438790]

1715438790

[1715438790]

1715438790

[N12]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

That particular 28 million example is the fault of a CoinDesk writer who either didn't understand this or is purposefully being misleading: http://www.coindesk.com/barry-silbert-data-secondmarket-us-marshal-auction-syndicate

[ShroomsKit]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

Yeah. I'm full of fear. My mind is so clouded. Ready to sell all my coins.

[bitrider]

A big move is certainly coming up sometime soon-ish given the coiling we are experiencing.

Very nice charts. But it suggests something different to me. We may have to wait somewhat longer for the next big push. Hope not. But that's what this looks like to me.

[Newbie1022]

I don't know if it could be this, but it would be pretty devious and would generally be a good omen for us. Perhaps, the person putting up the sell wall knows the auction price. Now, you may be thinking, well that means he is selling because the price is down. Perhaps. BUT, maybe he is actually trying to buy in front of the sell wall faster than he is trying to get purchased up. He might know that less steady hands will panic with the price stuck in place and so they'll undercut that price just slightly. Well, that gives a fine supply right in front of the wall of coins to purchase. This might also explain why the wall is able to "replenish itself." It is the same coins that were bought up at 598 that are now being sold at right around 599.9.

It's a thought. If that's what they are doing... pretty f---ing smart.

Do we have some kind of contest for weirdest conspiration theories about the btc price around auction with entries being posted in the Wall Observer thread?

Did I win the competition!!!!!!!?!!!!?

[bitrider]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

Yeah. I'm full of fear. My mind is so clouded. Ready to sell all my coins.

   

[windjc]

I don't know if it could be this, but it would be pretty devious and would generally be a good omen for us. Perhaps, the person putting up the sell wall knows the auction price. Now, you may be thinking, well that means he is selling because the price is down. Perhaps. BUT, maybe he is actually trying to buy in front of the sell wall faster than he is trying to get purchased up. He might know that less steady hands will panic with the price stuck in place and so they'll undercut that price just slightly. Well, that gives a fine supply right in front of the wall of coins to purchase. This might also explain why the wall is able to "replenish itself." It is the same coins that were bought up at 598 that are now being sold at right around 599.9.

It's a thought. If that's what they are doing... pretty f---ing smart.

Do we have some kind of contest for weirdest conspiration theories about the btc price around auction with entries being posted in the Wall Observer thread?

Did I win the competition!!!!!!!?!!!!?

Yes. In fact you did. Your theory was one of the worst I've ever read on here and thats saying a lot.

[Bitcoin_is_here_to_stay]

I don't know if it could be this, but it would be pretty devious and would generally be a good omen for us. Perhaps, the person putting up the sell wall knows the auction price. Now, you may be thinking, well that means he is selling because the price is down. Perhaps. BUT, maybe he is actually trying to buy in front of the sell wall faster than he is trying to get purchased up. He might know that less steady hands will panic with the price stuck in place and so they'll undercut that price just slightly. Well, that gives a fine supply right in front of the wall of coins to purchase. This might also explain why the wall is able to "replenish itself." It is the same coins that were bought up at 598 that are now being sold at right around 599.9.

It's a thought. If that's what they are doing... pretty f---ing smart.

Do we have some kind of contest for weirdest conspiration theories about the btc price around auction with entries being posted in the Wall Observer thread?

Did I win the competition!!!!!!!?!!!!?

No, I am sorry, I do not think you were even close - just the latest example of a weird trend.

[aminorex]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong, but all Silbert has told us is that 42 parties put in over 130 total bids worth 48k BTC.

Nothing else is known with the math and figures Silbert gave.

This is also misleading. It implies, as written, that 42 parties put in over 130 total bids on 48k BTC -- from the second market syndicate.
It says nothing about the total number of bids or the total number of bidding parties at the auction, which was open to many other parties, not participating in the syndicate.

[ChartBuddy]

Explanation

[windjc]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong, but all Silbert has told us is that 42 parties put in over 130 total bids worth 48k BTC.

Nothing else is known with the math and figures Silbert gave.

This is also misleading. It implies, as written, that 42 parties put in over 130 total bids on 48k BTC -- from the second market syndicate.
It says nothing about the total number of bids or the total number of bidding parties at the auction, which was open to many other parties, not participating in the syndicate.

True. Its just the basic IQ level of the average poster in these forums is so low (or so "high" on drugs) that everything becomes an epic game of telephone. Which makes it easier to trade and make money.

Like right now. The market is so obviously going up while most people cant do basic math.

[Newbie1022]

People come up with some crackpot ideas to pass the time. That said, I think people are smarter than you give them credit for. I think the majority has switched into buy mode.

[windjc]

People come up with some crackpot ideas to pass the time. That said, I think people are smarter than you give them credit for. I think the majority has switched into buy mode.

I hope so.

I made a new resolution to not suffer fools gladly. So its open season in my book now. 

[kodtycoon]

i think its a miner/mining company that has been mining a monster rig and only sold enough coins to cover costs, and because he knows if he waits 3-6 months the coins hes already mined are worth more than when he mined them, (something like, sell from nov - jan, hold from jan - next bull run) and therefor makes more profit on his profit. perhaps now he is simply selling coins he mined after the price fell bellow 600? - and now will the money to develop/buy new mining gear to stay ahead of the other miners. not too outlandish is it?

[ChartBuddy]

Explanation

[Newbie1022]

i think its a miner/mining company that has been mining a monster rig and only sold enough coins to cover costs, and because he knows if he waits 3-6 months the coins hes already mined are worth more than when he mined them, (something like, sell from nov - jan, hold from jan - next bull run) and therefor makes more profit on his profit. perhaps now he is simply selling coins he mined after the price fell bellow 600? - and now will the money to develop/buy new mining gear to stay ahead of the other miners. not too outlandish is it?

Plausible. Not likely due to the timing. But reasonable.

[samsonn25]

With no new ASIC hardware able to positive ROI because of increasing difficulty I think it is more risk for the large miners to hold coins.  Most are selling as they are mined.

And what is this new equipment that large miners are buying, nothing can ROI unless you are the manufacturer of the actual chips. 

[Searing]

With no new ASIC hardware able to positive ROI because of increasing difficulty I think it is more risk for the large miners to hold coins.  Most are selling as they are mined.

And what is this new equipment that large miners are buying, nothing can ROI unless you are the manufacturer of the actual chips.  

If you are a large mine in the usa you have to miner to usd directly ..as you mine you sell same day...if you hold coin you have to hold if for 1 year and 1 day
or pay 46% capital gains if before and 20% after (usa considers btc property this is to stop 'speculation' like with land)

thus if you mine 2 btc a day and sell it the same day w/o holding..you have no risk and your accounting is correct ..at that point if usa large miner
you are 'supposed' to pay 25% on what ever 'gross income' you mine day by day

so they may get coin but they will only do so after the above and buy what they think is prudent after the above

small miners (that are legal) will likley play the odds and hold coin over the 1yr and 1 day to get back (if btc rises) the tax they paid by 'mining' in usa

hopefully this is fixed in 2015 (it is soooo dumb) but not till after nov 2014 congressional elections is my best guess

so it MAY make a bit of sense to hedge with some mining equipment if you are a legal miner because of equip depreciation etc

but otherwise if you are a big time miner I'd be looking out of the USA (say Belize? not sure) some country that just wants your $$$ local w/o
the above hassles

Searing

[ChartBuddy]

Explanation

[Newbie1022]

Quick hijack -- my apologies -- if I move BTCs from one exchange to another exchange is that a taxable moment (a realization event)? If not, the IRS is totally bluffing aren't they.