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

[JorgeStolfi]

Results of our US Marshals bitcoin syndicate:
 
Bids received - 104
BTC quantity bid - 124,127
 
Winners notified by USMS today

BIT SYNDICATE ALONE HAD FOR 124.127 BTC BIDS???

In principle, the syndicate is not trying to buy coins for Barry Silbert, SecondMarket, or the SMBIT fund.

The syndicate collects money from small bidders (starting at 25 k$ minimum bid) and joins them into the 1000 or 2000 BTC bids for the USMS auction.  If any of these merged bid makes it to the winners list, SecondMarket distributes the coins to the corresponding small bidders, and collects a fee for its service.  Otherwise they return the money to the small bidders, and shrug off their wasted work.

They had 104 small bidders which together wanted to buy 124'127 BTC.  Obviously when they assembled the bids for the USMS auction it would be pointless to bid for more than 50'000 BTC.  So they must have considered the highest among those small bids, until completing 50'000 BTC, and rejected the rest.

One cannot tell from those numbers whether any of the bids were above or below market.

[noobtrader]

.... the bear is a patient, cerebral animal...  

ohhh like these





 

[Elwar]

Price is broke.

Someone go shake the machine a little.

[phoenix1]

Results of our US Marshals bitcoin syndicate:
 
Bids received - 104
BTC quantity bid - 124,127
 
Winners notified by USMS today

BIT SYNDICATE ALONE HAD FOR 124.127 BTC BIDS???

In principle, the syndicate is not trying to buy coins for Barry Silbert, SecondMarket, or the SMBIT fund.

The syndicate collects money from small bidders (starting at 25 k$ minimum bid) and joins them into the 1000 or 2000 BTC bids for the USMS auction.  If any of these merged bid makes it to the winners list, SecondMarket distributes the coins to the corresponding small bidders, and collects a fee for its service.  Otherwise they return the money to the small bidders, and shrug off their wasted work.

They had 104 small bidders which together wanted to buy 124'127 BTC.  Obviously when they assembled the bids for the USMS auction it would be pointless to bid for more than 50'000 BTC.  So they must have considered the highest among those small bids, until completing 50'000 BTC, and rejected the rest.

One cannot tell from those numbers whether any of the bids were above or below market.

Not with great certainty, no, but the number of bids, and the fact that it is a syndicate raises the chances that, just like last time, the BIT consortium will be bidding below market. To me it just makes no sense to buy 2-5k thru a syndicate, in an auction, and bid over market price. Who would do such a thing? The smaller the fish, the lower the bids ... else they would buy on an exchange. Yes, I realise there are exceptions to this, but I am sticking to my theory that no syndicate will bid above market, and that a lot of syndicate members are just opportunists looking for a quick buck or deep discounted coins.

[ChartBuddy]

Explanation

[LFC_Bitcoin]

[Newbie1022]

Price is broke.

Someone go shake the machine a little.

 

[phoenix1]

Price is broke.

Someone go shake the machine a little.

Do coins drop out if you do ??

[roslinpl]

Well ...

Looking at the price chart is kinda boring from few months ..

I was hoping that at the end of a year we will see some spectacular movement but nothing seems to be happening.

What will 2015 bring to us?  :-)

[Newbie1022]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

[gkv9]

Price is broke.

Someone go shake the machine a little.

Seems the bulls are ready to do it, we need to wait and watch for the upcoming auction results, and may the prices skyrocket higher than expected. I need to get some nice fiat for my coins...

[Kupsi]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Because they already own 100k+. They don't need more to become very, very rich.

[Newbie1022]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Because they already own 100k+. They don't need more to become very, very rich.

But, they could be 50% more "rich"

[Tzupy]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Why buy now? Wait 1 - 2 months and buy then at much lower prices and with little slippage due to huge volume.

[phoenix1]

And the winner is  ... TZUPY !!!

EDIT : Why not throw in a little more bearish sauce and suggest that IF their EFT was near to launch, they would probably be keen to pick up more coins now. Ergo, it's probably still some way off. Pure speculation of course, but hey, that's what we're here for

[Newbie1022]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Why buy now? Wait 1 - 2 months and buy then at much lower prices and with little slippage due to huge volume.

Well, that's the point. They are as locked in as anybody... and they aren't even willing to throw out a spitball, low bid on this.

[Kupsi]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Why buy now? Wait 1 - 2 months and buy then at much lower prices and with little slippage due to huge volume.

Well, that's the point. They are as locked in as anybody... and they aren't even willing to throw out a spitball, low bid on this.

They bought at $10. If they wanted more, they would have bought more then.

PS: Tim Draper came late to the party. He is trying to buy again.

[phoenix1]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Why buy now? Wait 1 - 2 months and buy then at much lower prices and with little slippage due to huge volume.

Well, that's the point. They are as locked in as anybody... and they aren't even willing to throw out a spitball, low bid on this.

They bought at $10. If they wanted more, they would have bought more then.

LOL! So nobody who bought in double digits ever buys again? Didn't realise that was how it worked. Not even if they are planning to sell those coins to Joe Public? That's not very confidence inspiring 

[LFC_Bitcoin]

Draper must be very confident that the price is going to rise a lot in the future seeing as he bought in relatively late.

[Newbie1022]

Question... The Winklevoss twins say that Bicoins will be worth greater than $100,000... but they decided not to bid on coins they could arguably get below market. Why?

Why buy now? Wait 1 - 2 months and buy then at much lower prices and with little slippage due to huge volume.

Well, that's the point. They are as locked in as anybody... and they aren't even willing to throw out a spitball, low bid on this.

They bought at $10. If they wanted more, they would have bought more then.

PS: Tim Draper came late to the party. He is trying to buy again.

But they said $100,000... so below $400 is certainly a bargain... and likely below $350 and even a $250 to $300 bid is within the range of possibilities. Are they just bad at math and opposed to 300x profits?