put simply it will eat the orders on the sell wall..
so if the price was $135 to sell
$135 - 100BTC
$136 - 100BTC
$137 - 100BTC
$138 - 100BTC
$139 - 100BTC
a order of 300BTC would make the price $138
now for some investigation (due to the ever over shadowing of the trendon shavers history.
this company is set up this year, but never claimed to be 'owned' by some bi financial and legally responsible group... only 'sponsored'.
imagine it like a football game.. if a team went into debt, you cannot take the sponsors to court as they are legally 'donators' in exchange for advertising.
now to translate more of their wording..
Through established relationships our Authorized Participant has with the major bitcoin exchanges and large private pools of bitcoins,
notice the lack of plural in participant (sounds like a one-man-band)
translates to:
we have
ONE guy that has registered his bank details with the exchanges, and has friends on bitcoin-otc to buy coins from aswell
Investors can buy shares in the BIT at a set price and without having to transact in a fragmented and highly illiquid market with unregulated and newly established entities.
translates to:
you do not buy bitcoins but a percentage of ownership of the company (shares). and because the organisers claim to only be sponsors, you the owner become legally accountable for any debt/legal issues.
INVESTMENT DETAILS
Investment Minimum:
$25,000
Investor Qualification:
Accredited investor
translates to:
we dont have qualified staff, but we want legally accredited investors so that when $h!t hits the fan, they can only blame themselves.
there are more holes in every paragraph. but the main ones to look at are the who-is search on their domain............
oh look their in hiding...
well goodluck but this is not a proper institutional business, this is a one man band that throws big names into the air, pretending they own the company, when infact they can scarper with the funds leaving ownership and legal matters with the victims..
this is pirate 2.0