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

[wachtwoord]

CHINA BANS BITCOIN!

China bids for Bitcoin. Pays with US treasuries.

[empowering]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

yeah right that is what happened..

oh and yeah other financial crisis are also comparable to the situation the worlds economies are in now

not.

[beetcoin]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

yeah right that is what happened..

oh and yeah other financial crisis are also comparable to the situation the worlds economies are in now

not.

i think he still doesn't get it.. if you want to buy 30k bitcoins, from an exchange, then it would cost you a lot more than $600 (spot price around that time) to get it.

[DaRude]

Well if all the coins were indeed bought by a single entity, is that good news?
It means they bought high, so they're probably not dumpers.
On the other hand, lots of btc in one basket...

Makes perfect sense, the more BTC you want to buy the more it'll cost you. That's why i didn't care much about that syndicate, just a bunch of low ballers, why would you pay above market to get 25k worth of BTC when you can buy it on the market without much slippage. Now if you want to buy 18MM worth of BTC your options are pretty limited, and the more you want to buy the more it'll cost you simple supply and demand. So that's definitely a good news, someone with deep pockets is moving in.

[relm9]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

It is unlikely that this buyer bid just $5 higher than the rest and won *all* the blocks. My guess is they bid at least $100-200 higher than market across the board.

[DaRude]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

It is unlikely that this buyer bid just $5 higher than the rest and won *all* the blocks. My guess is they bid at least $100-200 higher than market across the board.

What makes you think that $475 was the second highest bid?

[empowering]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

yeah right that is what happened..

oh and yeah other financial crisis are also comparable to the situation the worlds economies are in now

not.

i think he still doesn't get it.. if you want to buy 30k bitcoins, from an exchange, then it would cost you a lot more than $600 (spot price around that time) to get it.

I enjoy most of the Jorge posts, but sometimes I really think he is just teasing/winding everyone up on purpose.... because for a man with brains... he has some strange ideas. 

[maok]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

It is unlikely that this buyer bid just $5 higher than the rest and won *all* the blocks. My guess is they bid at least $100-200 higher than market across the board.

What makes you think that $475 was the second highest bid?

$475 was the second lowest bid, most bids were above market price, winner had bid alot more and proof of that is that he managed to buy all the blocks.

Some of those losing bidders after placing a 10% premium bid realized the bargain offered by the yesterday's prices on the exchanges so they hurried up and bought up to their USMS bid, and were soon followed by panic buyers

[okthen]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

It is unlikely that this buyer bid just $5 higher than the rest and won *all* the blocks. My guess is they bid at least $100-200 higher than market across the board.

What makes you think that $475 was the second highest bid?

$475 was the second lowest bid, most bids were above market price, winner had bid alot more and proof of that is that he managed to buy all the blocks.

Some of those losing bidders after placing a 10% premium bid realized the bargain offered by the yesterday's prices on the exchanges so they hurried up and bought up to their USMS bid, and were soon followed by panic buyers

Doubt that the second highest bid was also below market price.
I think it was at market price the lowest.

[ChartBuddy]

Explanation

[MNDan]

The winning bid was $706 - mark my words. And I won't tell you how I know.

[elg]

Mod Adam, new poll please?

[empowering]

The winning bid was $706 - mark my words. And I won't tell you how I know.

.....................................

[maok]

$475 was the second lowest bid, most bids were above market price, winner had bid alot more and proof of that is that he managed to buy all the blocks.

Some of those losing bidders after placing a 10% premium bid realized the bargain offered by the yesterday's prices on the exchanges so they hurried up and bought up to their USMS bid, and were soon followed by panic buyers

Doubt that the second highest bid was also below market price.
I think it was at market price the lowest.

I think there were a couple of bidders who didn't knew what competition they were up to and thought they'll make a blast deal by bidding ~$450 and later dumping on the exchanges(one bidder publicly admitted a ~$440 bid on all blocks). Their competition however were true bitcoiners whose plan weren't to dump but instead were looking for a secure & private deal which USMS auction provided, as proof we still don't know who won and most likely will never know.

[spooderman]

The winning bid was $706 - mark my words. And I won't tell you how I know.

.....................................

wow such help

[okthen]

$475 was the second lowest bid, most bids were above market price, winner had bid alot more and proof of that is that he managed to buy all the blocks.

Some of those losing bidders after placing a 10% premium bid realized the bargain offered by the yesterday's prices on the exchanges so they hurried up and bought up to their USMS bid, and were soon followed by panic buyers

Doubt that the second highest bid was also below market price.
I think it was at market price the lowest.

I think there were a couple of bidders who didn't knew what competition they were up to and thought they'll make a blast deal by bidding ~$450 and later dumping on the exchanges(one bidder publicly admitted a ~$440 bid on all blocks). Their competition however were true bitcoiners whose plan weren't to dump but instead were looking for a secure & private deal which USMS auction provided, as proof we still don't know who won and most likely will never know.

A thousand apologies maok! I misread "second lowest" for "second highest".
Then I completely agree with you. As you say, for sure some innocents bid to try and win the lottery.
Thankfully the auction was full of veterans as well, to protect us from those ignorant dumpers

[relm9]

One buyer is very bullish.  It means the sale price was likely higher than most anticipated.

It means only that one buyer with deep pockets was less greedy than all the others.  They may all have bid at 475$, and he bid 480$  

EDIT: typo, 460 --> 480

It is unlikely that this buyer bid just $5 higher than the rest and won *all* the blocks. My guess is they bid at least $100-200 higher than market across the board.

What makes you think that $475 was the second highest bid?

Not sure if you're responding to me or him... but I don't think that, there were probably some lowball bids with more than a few near market or above. I already expected the coins to go for a premium as there is some value in getting that much BTC with absolutely no slippage, plus the fact the coins are coming from a "trusted" source. His hypothetical situation where the winning bidder outbid everyone by just $5 isn't plausible though. Odds are the winning bidder had to of went significantly higher than everyone else to get all the blocks.

[windjc]

SecondMarket's syndicate had bids within 10% of market. So at this point the ABSOLUTE lowest the 2nd highest bid could be would be around $530-$540.

[Dotto]

[from: BTCMarketMaker]

USMS Bitcoin Auction an Inside Job ?

My guess is the coins changed hands but to someone who they already knew before would win the auction. US Gov wouldn't want to loose control over these coins. All coins they are holding are the equivalent of around 5% of all coins in existence - try to picture the value in a couple of years from now on.
This 30k auction was in my opinion THE test run for a soon coming much larger auction, where the US Gov is going to make us believe it wants to get rid of all the other sized coins.
There is no way to prove what I am saying could be true, but it is what sounds to me as a quite possible and probable scenario.

[magicmexican]

What the fuck is going on with LTC on btc-e?