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

[Kupsi]

Bears be like

wtf happened last night?

I love this 

[cbeast]

Here we go!

[Dump3er]

All those idiot sellers between 575 and 600 are pissing their pants now and wondering wtf just happened.

I know one! I know one, who did!

But forgot his name. Some "Shraam...", "Shruums.." or was it "Shreem.."

[molecular]

Can you believe there are still people selling?

Of course I can. We might all be a little overexcited maybe?

I can imagine many of the longs on bitfinex are relieved and closing them or reducing exposure.

[JimboToronto]

Oh noes! The price just fell below $605.

It's the big crash. Quick, everyone sell before we hit double digits.

 

[siggy]

GABI buying.. nothing special i think, short term pump

OK.. so on the front of pure unsubstantiated speculation....

1) buy OTC, sell on market to drive price down, setting artificially low "opening price"
2) "open fund"
3) buy on market for 30 days driving the price up
4) produce slick marketing campaign:  " GABI UP 50% IN FIRST MONTH !!!! "
5) open fund for trading
6) profit.

So be it. 

approximately $2MM bought in the last hour.. that's just 1% of GABI's expected (estimated) $200MM initial interest in the fund.

Sigg

So what will happen when GABI must buy the other initial BTC ? tomorrow they start trading

I read the fund actually opens for trading on 9/1 .. so not tomorrow, but next month....

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

doesn't take a math wiz to figure out what that will do to the price...

Sigg

[molecular]

So what will happen when GABI must buy the other initial BTC ? tomorrow they start trading

They start trading on 1. September. And 200mil $ is planned till end of the year (as far as I understood).

better buy them 200 millions worth of coins NOW. should result in more coins. maybe they have bought already?

[BitChick]

GABI buying.. nothing special i think, short term pump

OK.. so on the front of pure unsubstantiated speculation....

1) buy OTC, sell on market to drive price down, setting artificially low "opening price"
2) "open fund"
3) buy on market for 30 days driving the price up
4) produce slick marketing campaign:  " GABI UP 50% IN FIRST MONTH !!!! "
5) open fund for trading
6) profit.

So be it. 

approximately $2MM bought in the last hour.. that's just 1% of GABI's expected (estimated) $200MM initial interest in the fund.

Sigg

So what will happen when GABI must buy the other initial BTC ? tomorrow they start trading

I read the fund actually opens for trading on 9/1 .. so not tomorrow, but next month....

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

doesn't take a math wiz to figure out what that will do to the price...

Sigg

I am pretty sure they said that they expected the $200MM to be invested during the first 6 months, not 30 days, but we will see how it goes.

[kireinaha]

What happened to your doomer predictions earlier in the week?

My little brother was using my account and posting all kinds of FUD. I kicked him off.

[kurious]

I just want to give a Shoutout to my fellow bull friends! For seeing through the bearish manipulation and keeping things in check. Thanks!

Some of us have balls and sold none (and feel pretty smug at buying more once it hit 560...).

It's not bulltard behaviour - just common sense

[siggy]

I read the fund actually opens for trading on 9/1 .. so not tomorrow, but next month....

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

doesn't take a math wiz to figure out what that will do to the price...

Sigg

I am pretty sure they said that they expected the $200MM to be invested during the first 6 months, not 30 days, but we will see how it goes.

Well thats it... I'm just gonna sell it all.. not worth waiting around for a whole 6 months !!!! 

seriously..  For anyone following this conversation.. go with BitChick's 6 month figure.. 

same principles apply, just may take a bit longer

Sigg

[ShroomsKit]

better buy them 200 millions worth of coins NOW. should result in more coins. maybe they have bought already?

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

Where the hell would they get for $200MM btc??? That is 200 000 btc at the price of 1000$! Are they planning to get old Satoshi's coins?  

Chill out... they will not buy all in the next 30 days... more like till the end of the year. But they sure will push the price to the sky!  

Can someone actually show me a source that confirms they will be buying all these coins.
I mean it sounds great but everybody says something different.

[giveBTCpls]

Lol I wonder who these 8 people that claim to have more than > 10000 are. I hope to have at least 10 in the next 10 years, and for the 99% of us that missed the boat to get legitimate gains Bitcoin needs to go really high. 10K is the bare minimum. I wonder if we will see it in the next 10 years.

[adamstgBit]

weird thing is Bitfinex shorts seems to have shot up from 3.5k to nearly 5k and longs are down nearly 1m from a day ago

this is good. very good.

[empowering]

better buy them 200 millions worth of coins NOW. should result in more coins. maybe they have bought already?

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

Where the hell would they get for $200MM btc??? That is 200 000 btc at the price of 1000$! Are they planning to get old Satoshi's coins?  

Chill out... they will not buy all in the next 30 days... more like till the end of the year. But they sure will push the price to the sky!  

Can someone actually show me a source that confirms they will be buying all these coins.
I mean it sounds great but everybody says something different.

Various articles about, here be a couple

http://moneymorning.com/2014/07/24/bitcoin-hedge-funds-multiply-as-big-money-sees-opportunity/


http://www.newsweek.com/ex-jp-morgan-trader-joins-bitcoin-bulls-launching-hedge-funds-258494

[dnaleor]

Lol I wonder who these 8 people that claim to have more than > 10000 are. I hope to have at least 10 in the next 10 years, and for the 99% of us that missed the boat to get legitimate gains Bitcoin needs to go really high. 10K is the bare minimum. I wonder if we will see it in the next 10 years.

10K? That will probably happen in 2016, maybe even in 2015.

[ShroomsKit]

better buy them 200 millions worth of coins NOW. should result in more coins. maybe they have bought already?

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

Where the hell would they get for $200MM btc??? That is 200 000 btc at the price of 1000$! Are they planning to get old Satoshi's coins?  

Chill out... they will not buy all in the next 30 days... more like till the end of the year. But they sure will push the price to the sky!  

Can someone actually show me a source that confirms they will be buying all these coins.
I mean it sounds great but everybody says something different.

Various articles about here be one

http://moneymorning.com/2014/07/24/bitcoin-hedge-funds-multiply-as-big-money-sees-opportunity/

Thanks. I'll check it out.

[magicmexican]

China not convinced yet.

[empowering]

China not convinced yet.

Give them 8 hours

[empowering]

better buy them 200 millions worth of coins NOW. should result in more coins. maybe they have bought already?

Also, the $200MM figure is what the GABI administrators "estimate" as the initial interest..  so this isn't set in stone, and they are probably exagerating some.. but assuming they are close, that means they will be buying $200MM in the next 30 days...

Where the hell would they get for $200MM btc??? That is 200 000 btc at the price of 1000$! Are they planning to get old Satoshi's coins?  

Chill out... they will not buy all in the next 30 days... more like till the end of the year. But they sure will push the price to the sky!  

Can someone actually show me a source that confirms they will be buying all these coins.
I mean it sounds great but everybody says something different.

Various articles about here be one

http://moneymorning.com/2014/07/24/bitcoin-hedge-funds-multiply-as-big-money-sees-opportunity/

Thanks. I'll check it out.

and another   http://www.newsweek.com/ex-jp-morgan-trader-joins-bitcoin-bulls-launching-hedge-funds-258494 (http://www.newsweek.com/ex-jp-morgan-trader-joins-bitcoin-bulls-launching-hedge-funds-258494)

Also a little about Masters :

Daniel Masters
Co-Principal and Portfolio Manager
Director of Trading & Execution
Daniel Masters started out in 1985 at Royal Dutch/Shell, where he was responsible for managing a portfolio of North Sea Crude. Moving to The Phibro Energy Division of Salomon, Inc. in 1987, he pioneered the firm’s entrance into the electricity markets. He structured groundbreaking natural gas deals and was an original participant in the “Contract for Difference” (CFD) market for physical oil in Europe. J.P. Morgan hired him in 1993 to add trading expertise to its array of financial capabilities. Based on Danny’s success in establishing a proprietary trading program, Morgan promoted him to head its global energy trading business in 1997.

This is Blythe Masters ex husband BTW!!  ha!  FUBM !!