Franktank
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July 31, 2013, 05:57:32 AM |
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They gave no warning. IPO shares started selling at 1:50 AM in US - they said they would start during US Business day.
Make sure you know what you're talking about before speaking. People have put up bids, NO shares have been sold yet. OK. OK. Why are people putting in bids for much less than the IPO price? Many reasons: hoping someone mistakes a decimal point, someone really needs to liquidate shares for emergency funds, etc.
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Vigil
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July 31, 2013, 05:58:31 AM |
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so, if I want some shares should I be putting a bid in now?
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KCBitcoin
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July 31, 2013, 05:58:43 AM |
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This is crazy...
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vesper39
Member
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Activity: 114
Merit: 10
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July 31, 2013, 05:59:45 AM |
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Watching
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Ytterbium
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July 31, 2013, 06:01:45 AM |
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Apparently someone put in a bid for 1.3 million shares. About $130k USD.
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Franktank
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July 31, 2013, 06:02:47 AM |
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This is crazy...
Agreed. With AM, BTCGarden, and Labcoin, the network hash rate will reach 2 PH/s by Christmas. You have to be brave if you want to own a miner
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Ytterbium
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July 31, 2013, 06:12:20 AM |
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The interesting thing is - these companies could potentially diversify and start producing other types of microchips as well, if mining ends up becoming difficult to profit from.
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superduh
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July 31, 2013, 06:20:14 AM |
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burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts) it appears people just want to pick up shares assuming price will go up and dump as soon as it does.
people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck
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ok
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Sou
Full Member
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Merit: 100
(Bitcoin related text here)
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July 31, 2013, 06:23:12 AM |
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I'm just going to throw this idea out there to the wolves of the form, but...what if Litecoin for whatever reason started to gain traction and it become increasingly more profitable to mine. How long would it be for one of these leading bodies in the BTC mining movement to direct some attention to mining Litecoin (or any other alt)? Or, would that risk letting your position slip in the BTC mining arms race?
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dexX7
Legendary
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Activity: 1106
Merit: 1026
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July 31, 2013, 06:23:42 AM |
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Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)
First in, first out. There are multiple orders sitting on 0.001 ( here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed. Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end. If you want to be very sure to get your shares, place an order on 0.001. Good luck, LABCOIN! I'm following. Edit: burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts) it appears people just want to pick up shares assuming price will go up and dump as soon as it does.
people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck
No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price. Relax please.
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Franktank
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July 31, 2013, 06:24:51 AM |
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burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts) it appears people just want to pick up shares assuming price will go up and dump as soon as it does.
Unlikely, this is the "free market." You take the good and the bad, have both or none. If that doesn't float your boat, I suggest checking out NYSE...
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canth
Legendary
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Activity: 1442
Merit: 1001
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July 31, 2013, 06:25:15 AM |
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I'm just going to throw this idea out there to the wolves of the form, but...what if Litecoin for whatever reason started to gain traction and it become increasingly more profitable to mine. How long would it be for one of these leading bodies in the BTC mining movement to direct some attention to mining Litecoin (or any other alt)? Or, would that risk letting your position slip in the BTC mining arms race?
It would take a significant amount of time and LTC would need to drastically rise in value for it to happen. Scrypt based ASICs are certainly possible, but they wouldn't provide the massive bump in efficiency that each generation of SHA ASICs deliver. In my opinion, it would take longer than starting from scratch to build a SHA ASIC. Many months.
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KCBitcoin
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July 31, 2013, 06:28:37 AM |
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omg....2 million already?
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dhenson
Legendary
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Activity: 994
Merit: 1000
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July 31, 2013, 06:29:10 AM |
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Apparently someone put in a bid for 1.3 million shares. About $130k USD.
You counted too many 0's, it was 130,000
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dexX7
Legendary
Offline
Activity: 1106
Merit: 1026
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July 31, 2013, 06:36:12 AM |
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Yay, this is exciting. Maybe it does get filled, before trading even starts... At least a decent quck is already done. TheSwede75: 1. Can we expect regular updates on less than weekly basis? 2. How do you plan to convert 7000 Bitcoin into fiat? No need for full disclosure, but this question is critical. 3. Please send a dev over to answer Vbs's questions from here.
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superduh
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July 31, 2013, 06:36:30 AM |
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Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)
First in, first out. There are multiple orders sitting on 0.001 ( here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed. Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end. If you want to be very sure to get your shares, place an order on 0.001. Good luck, LABCOIN! I'm following. Edit: burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts) it appears people just want to pick up shares assuming price will go up and dump as soon as it does.
people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck
No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price. Relax please. there's a reason why regulations exist and some of it actually makes sense (not all) - read about why regulations were enacted after the Great Depression. too simple to float around the words anti-regulation.
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Franktank
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July 31, 2013, 06:41:41 AM |
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Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)
First in, first out. There are multiple orders sitting on 0.001 ( here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed. Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end. If you want to be very sure to get your shares, place an order on 0.001. Good luck, LABCOIN! I'm following. Edit: burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts) it appears people just want to pick up shares assuming price will go up and dump as soon as it does.
people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck
No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price. Relax please. there's a reason why regulations exist and some of it actually makes sense (not all) - read about why regulations were enacted after the Great Depression. too simple to float around the words anti-regulation. Don't get me wrong, I get why there are rules in place. The thing is we're still in the early "Wild West" days of Bitcoins. Those days will come, for better or worse. Edit: Trolls are now placing bids 2x - 4x IPO price, dear god...
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Vigil
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July 31, 2013, 06:45:15 AM |
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Damn, Transfer to BTC-TC takes forever.
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Franktank
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July 31, 2013, 06:48:07 AM |
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IPO is about to be 50% filled... Before the asset is even unlocked...
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superduh
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July 31, 2013, 06:48:36 AM |
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Damn, Transfer to BTC-TC takes forever.
6 confirms. so i'd guess 45 minutes edit- o wow 38 minutes between the last 2 blocks!
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