xpost from Press: Joe Lewis plans to invest $200M into Avalon (hoax)

[gizmoh]

I call this a Bluff!
Every 2 years they get $200 million funding, same crap recycled again, Avalon & manipulators can spit whatever they want to get btc prices up so they can unload their stash.

[Tzupy]

Right now it may look overpaid, but if they get the latest process technology for new ASICs, then in the future
they will have a significant competitive advantage. Meaning that after ROI, they'll be able to hoard BTC
and manipulate the market as well as the early adopters / large whales. They could make a couple billions of $.
Anyway, it looks like small ASIC miners are not going to survive long.

[umaOuma]

Right now it may look overpaid, but if they get the latest process technology for new ASICs, then in the future
they will have a significant competitive advantage. Meaning that after ROI, they'll be able to hoard BTC
and manipulate the market as well as the early adopters / large whales. They could make a couple billions of $.
Anyway, it looks like small ASIC miners are not going to survive long.

But i guess they will sell the 20nm miners.
Thats where the money are right now

[vokain]

https://twitter.com/ScottWapnerCNBC/status/364370798892421120

'Spoke to Joe Lewis this morning who says of reported Bitcoin investment: "Completely Untrue".  Tells me he's "Never heard of Phoenix Fund" '

For everyone that sold out last night...waaa waaa.

Either way, false or not, this should bring very interesting discussion to the table for monied people as to what is possible. There is a very serious first-mover advantage for the first big group investing in bitcoin that takes it seriously.

[N12]

The media is completely ridiculous, WTF is so difficult about doing some research before printing your shit?

It's like they aren't even here to inform anymore, only to spread bullshit.

I do wonder how this false information could have happened.

[thezerg]

The media is completely ridiculous, WTF is so difficult about doing some research before printing your shit?

It's like they aren't even here to inform anymore, only to spread bullshit.

I do wonder how this false information could have happened.

A strangely detailed article for FUD... could be only one detail (the investor perhaps) is incorrect.  On the other hand, the person spreading the Paypal rumor seemed a cut above the average liar.  Could be there's a high stakes pump operation going on...

[ElectricMucus]

Either way, false or not, this should bring very interesting discussion to the table for monied people as to what is possible. There is a very serious first-mover advantage for the first big group investing in bitcoin that takes it seriously.

As in the other, now deleted thread: They could also just get pissed off by this.

[myself]

one word: overpaid

with your narrow vision maybe.

LOL

[vokain]

one word: overpaid

with your narrow vision maybe.

LOL

If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years.

[myself]

one word: overpaid

with your narrow vision maybe.

LOL

If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years.

thats not the point the point is fair price

[vokain]

one word: overpaid

with your narrow vision maybe.

LOL

If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years.

thats not the point the point is fair price

$200M set aside for a 10+ year grand scheme that might not have fiat returns and progressive fiat expenses for awhile isn't unreasonable.

[ElectricMucus]

I get the strange suspicion that Avalon tried to leverage their way into a larger Bitcoin stash, (payed for expenses on credit) and now are looking for the easy way out.

That they fake something like this could mean that it isn't going to well for them.

[vokain]

I get the strange suspicion that Avalon tried to leverage their way into a larger Bitcoin stash, (payed for expenses on credit) and now are looking for the easy way out.

That they fake something like this could mean that it isn't going to well for them.

hasn't bitcoin increased in worth since they first started taking payments?

[ElectricMucus]

I get the strange suspicion that Avalon tried to leverage their way into a larger Bitcoin stash, (payed for expenses on credit) and now are looking for the easy way out.

That they fake something like this could mean that it isn't going to well for them.

hasn't bitcoin increased in worth since they first started taking payments?

That doesn't stop them from trying. Who knows what their real expenses are.

And the price increase is much less pronounced in these quantities. There are only a little over 20 mil dollars on mtgox. (at least according to the order book)

[myself]

There are only a little over 20 mil dollars on mtgox. (at least according to the order book)

maybe not ?

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

https://www.mtgox.com/press_release_20130805.html

[humanitee]

maybe not ?

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

https://www.mtgox.com/press_release_20130805.html

Literally, the next sentence "The risk is now too high for us to credit accounts prematurely."

Your reading skills = terrible.

[vokain]

maybe not ?

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

https://www.mtgox.com/press_release_20130805.html

Literally, the next sentence "The risk is now too high for us to credit accounts prematurely."

Your reading skills = terrible.

he isn't a native English speaker. but still

[ElectricMucus]

There are only a little over 20 mil dollars on mtgox. (at least according to the order book)

maybe not ?

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

https://www.mtgox.com/press_release_20130805.html

My rationale behind this is that almost everybody had their USD somewhere in a bid during the rally. It might go as high as about the double of that overall, which I doubt, but for sake of the argument lets assume it is true. 40mil wouldn't change anything in that regard.

[humanitee]

he isn't a native English speaker. but still

If they are adequate enough to comprehend that paragraph surely they are adequate enough to comprehend that minuscule sentence! I didn't really mean anything by it anyway, just giving him a hard time.

[myself]

maybe not ?

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

https://www.mtgox.com/press_release_20130805.html

Literally, the next sentence "The risk is now too high for us to credit accounts prematurely."

Your reading skills = terrible.

more explication for you since you dont get it, the usd automatic credit on mtgox got stopped on june  nobody knows how much the loss for mtgox was and if they manage to cover that from fees
1) send wire
2) get the fiat credited
3) buy bitcoin
4) take bitcoin out
5) wire denied
6) ops mtgox got a loss
7) wee free bitcoin
8 ) some one has the usd but this never got wired
9 ) the someone use said USD to place a bid