ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 02, 2014, 02:00:35 PM |
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oda.krell
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Activity: 1470
Merit: 1007
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July 02, 2014, 02:01:46 PM |
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Alright, the Tim Draper/Vaurum news looks legit enough: http://www.chicagotribune.com/business/breaking/sns-rt-us-usa-bitcoin-20140701,0,4038036.storyStill, he didn't mention the price, despite informing Reuters that he won the auction. My conclusion: Either he's trying to build suspense, waiting some more before releasing the price he paid. If no such thing happens, I'll suspect that the price per coin was perhaps somewhat above market that day (~600), but below current market, and he'd rather not disclose the exact number to not cause a crash. Not necessarily bearish, btw. A ~600 floor would be pretty great long term. OTOH, if it turns out we're ~$50 above auction price right now, we might see a small-ish correction near term. i don´t really think that more than 40 wealthy entities all just made bids below market price or just slightly above it, letting a 600ish bet win every chunk. for a single bidder to win 'em all, he must have picked a higher price. if you are right than draper is one hell of a poker player. my guess is way above 700. You saw my 'EDIT', right? I consider the practical outcome of the auction better than I'd ever hoped for. That said, I'm simply playing the near term/mid term/long term price prediction game here, so I'll ask: what would you consider the most likely reasons NOT to disclose the price you paid. (in no particular order, I can come up with) 1- privacy reasons (unlikely, imo. he's an investor.) 2. competitive advantage (possible. doesn't want to give his strategy away in case of future auctions) 3. price was way above market and he doesn't want to look like he overbid (unlikely, it's not like he has shareholders to please on this decision) 4. price was around market on the 27th, which makes it somewhat below market of today. (quite likely, imo) 5. doesn't want to drive price up by announcing his above market buy price, because he's still accumulating. (also possible) I personally consider 4. and 5. to be the most likely reasons. Comments?
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atp1916
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Activity: 854
Merit: 1000
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July 02, 2014, 02:01:53 PM |
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The precedent has been set for the other ~110k bitcoins that are yet to be auctioned.
Dumpers will not get them because they will never bid up past market price. The VC firms bidding will simply bid up past market price and keep the coins out of the hands of the dumpers.
This is all a good ending wrt to closing off the whole Mt. Gox fiasco.
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Moria843
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Activity: 442
Merit: 250
Found Lost beach - quiet now
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July 02, 2014, 02:02:07 PM |
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Yes but over a long time period - not the next month and through the usual cause of business and probably through funding businesses that expand the bitcoin ecosystem. So there is absolutely no chance of 30,000 coins hitting exchanges in one go, so the market no longer needs to fear the quick sale and profit turn. To me this is about as bullish an outcome as we could have hoped for.
Agree 100%. Just pointing that sooner or later 30000 BTCs that were outside the market for a year are now back. They can all be kept unused or unchanged but they are back. I too agree and have been buying since the auction was announced. Can't believe some of the paranoid views over the fear that 30,000 BTC will be dumped all at once or 0.3% making that much difference.
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ChrisML
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July 02, 2014, 02:03:06 PM |
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Meh, closed my long position at 644 on plus500.
Enough for today.
You're timing could be bad, we might break $650 today. I know.. But I have been trading before on "timing" and "speculating". For now it's working out for me trading whilst there is a pump.. and after that a small dump. Aslong as I hit my goal of $400 a day im happy! To make $400 daily on a price swing of $10/btc per day, you'd have to be playing with what, like 40 btc on the market? If you true, you are really brave. I couldn't risk trading that much. Hahaha no. I am not playing with real BTC. I got a few in a wallet.. but thats for future purposes. Taking in Long and short positions on Plus500... it's also a very risky business. But with the profit I have made from it so far I can play around. It's working out really nice for now!
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Torque
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Activity: 3710
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July 02, 2014, 02:04:12 PM |
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I love how bitcoiners want to spend hours and hours analyzing this auction and the buyer, when there's 1000% chance that Tim Draper will do absolutely nothing but sit on these 30K coins for the next 6-12 months while he further invests to build out the third world exchange infrastructure.
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bananaControl
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Activity: 322
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Decentralize All The Things!
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July 02, 2014, 02:05:32 PM |
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I love how bitcoiners want to spend hours and hours analyzing this auction and the buyer, when there's 1000% chance that Tim Draper will do absolutely nothing but sit on these 30K coins for the next 6-12 months while he further invests to build out the third world exchange infrastructure. Still better than a dump now.
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kodtycoon
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July 02, 2014, 02:05:43 PM |
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shit. those buy walls!
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atp1916
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Activity: 854
Merit: 1000
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July 02, 2014, 02:06:01 PM |
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I love how bitcoiners want to spend hours and hours analyzing this auction and the buyer, when there's 1000% chance that Tim Draper will do absolutely nothing but sit on these 30K coins for the next 6-12 months while he further invests to build out the third world exchange infrastructure. I believe this is exactly what he'll do. Why in the heck would he dump at or below market rates when he bought way above market rates? He's a VC. They hold and invest.
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adamstgBit
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Activity: 1904
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Trusted Bitcoiner
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July 02, 2014, 02:07:06 PM |
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bitcoin makes mondays enjoyable, priceless.
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hd060053
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July 02, 2014, 02:07:29 PM |
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lol @ this gox style buy walls
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Torque
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July 02, 2014, 02:07:59 PM |
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I love how bitcoiners want to spend hours and hours analyzing this auction and the buyer, when there's 1000% chance that Tim Draper will do absolutely nothing but sit on these 30K coins for the next 6-12 months while he further invests to build out the third world exchange infrastructure. I believe this is exactly what he'll do. Why in the heck would he dump at or below market rates when he bought way above market rates? He's a VC. They hold and invest. Yes exactly. I guess everyone else that still wants to debate the stupid "dumping" scenario is just trapped in that movie Idiocracy.
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adamstgBit
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Activity: 1904
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Trusted Bitcoiner
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July 02, 2014, 02:08:09 PM |
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looks like this is gonna break resistance and rocket to next level.
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oda.krell
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Activity: 1470
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July 02, 2014, 02:08:46 PM |
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ITT people complaining about the futility of price speculation on the... speculation subforum.
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atp1916
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Activity: 854
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July 02, 2014, 02:08:58 PM |
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Let the panic buying ensue.
So predictable.
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yrtrnc
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July 02, 2014, 02:09:07 PM |
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Stampwalls
Here comes the big dump.
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Torque
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July 02, 2014, 02:10:24 PM |
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Check out the Stamp 1W MACD. CCMF! I wish the Stamp 1W MACD looked like Bitfinex.
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empowering
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July 02, 2014, 02:11:15 PM |
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I am compiling a list of resources for a person that is totally not up to date and does not get Bitcoin/Crypto currency
The person has a finance background, and a legal background- the person is not technically minded
I have list of resources , videos, text, articles and good places to get key data.
has anyone any works they suggest may be suitable for this gentleman to read ? (I get the feeling he is more of a reader than a video watcher, plus I have some good videos already- though if you have any amazing links please do share)
I am almost ready to send what I have, but just thought I would ask here if anyone has any good primers to add to my list or rather than me writing it all out again.
The gentleman is a man with very deep pockets and a group of investors, I have meetings planned with the person in question to discuss starting a Crypto/Bitcoin relegated company here in the UK -
I am looking for good text primers for a person new to crypto but that has a good finance background, not too basic, not too full on have you any suggestions that I can add to my ever growing list ? I do not want to send him everything, I am looking to cherry pick.
Already had one meeting with the chap in question, and before the next one I would like him to do some reading, so he knows more about where his money is going to be going, before the next rounds of meetings- as the guy is pretty much a crypto newbie.
Thank you in advance.
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adamstgBit
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July 02, 2014, 02:13:09 PM |
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I am compiling a list of resources for a person that is totally not up to date and does not get Bitcoin/Crypto currency
The person has a finance background, and a legal background- the person is not technically minded
I have list of resources , videos, text, articles and good places to get key data.
has anyone any works they suggest may be suitable for this gentleman to read ? (I get the feeling he is more of a reader than a video watcher, plus I have some good videos already- though if you have any amazing links please do share)
I am almost ready to send what I have, but just thought I would ask here if anyone has any good primers to add to my list or rather than me writing it all out again.
The gentleman is a man with very deep pockets and a group of investors, I have meetings planned with the person in question to discuss starting a Crypto/Bitcoin relegated company here in the UK -
I am looking for good text primers for a person new to crypto but that has a good finance background, not too basic, not too full on have you any suggestions that I can add to my ever growing list ? I do not want to send him everything, I am looking to cherry pick.
Already had one meeting with the chap in question, and before the next one I would like him to do some reading, so he knows more about where his money is going to be going, before the next rounds of meetings- as the guy is pretty much a crypto newbie.
Thank you in advance.
good stuff you should make a new thread.
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Cassius
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Activity: 1764
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July 02, 2014, 02:13:42 PM |
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I am compiling a list of resources for a person that is totally not up to date and does not get Bitcoin/Crypto currency
The person has a finance background, and a legal background- the person is not technically minded
I have list of resources , videos, text, articles and good places to get key data.
has anyone any works they suggest may be suitable for this gentleman to read ? (I get the feeling he is more of a reader than a video watcher, plus I have some good videos already- though if you have any amazing links please do share)
I am almost ready to send what I have, but just thought I would ask here if anyone has any good primers to add to my list or rather than me writing it all out again.
The gentleman is a man with very deep pockets and a group of investors, I have meetings planned with the person in question to discuss starting a Crypto/Bitcoin relegated company here in the UK -
I am looking for good text primers for a person new to crypto but that has a good finance background, not too basic, not too full on have you any suggestions that I can add to my ever growing list ? I do not want to send him everything, I am looking to cherry pick.
Already had one meeting with the chap in question, and before the next one I would like him to do some reading, so he knows more about where his money is going to be going, before the next rounds of meetings- as the guy is pretty much a crypto newbie.
Thank you in advance.
http://vimeo.com/nxtorgLots about crypto more generally there too, just in the NXT context.
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