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Author Topic: Bitpay just processed its first 1,000,000 USD order, Dump incoming?  (Read 5242 times)
tampazeus
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October 30, 2013, 10:04:23 PM
 #61

No. This is faulty logic. It assumes that its just as easy to go from $150 to $2500 as it is to go from $15 to $266. This is just not true. The amount of cash into the markets to make this happen is an exponential amount.

It holds if the volume of trades in both periods ($150 to $2500  and  $15 to $266) is the same, but it doesnt need to be the case
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October 30, 2013, 10:11:11 PM
 #62

No. This is faulty logic. It assumes that its just as easy to go from $150 to $2500 as it is to go from $15 to $266. This is just not true. The amount of cash into the markets to make this happen is an exponential amount.

It holds if the volume of trades in both periods ($150 to $2500  and  $15 to $266) is the same, but it doesnt need to be the case

Yeah, if the volume of trades is the same - but for the volume of trades to be the same the currency volume is exponential. That's why its not going to happen. Not until a billion more dollars finds its way into the market.

Once we get a billion more dollars of liquidity, then lets talk about going to $2500, bubble or otherwise.

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October 31, 2013, 06:26:53 AM
 #63

http://www.reddit.com/r/Bitcoin/comments/1pgny0/bitpay_processes_1_million_transaction_for/

Its for BFL btw. How and when will they convert the coins to USD?

Anybody knows?

Without reading any further then the OP, I may be able to answer.

Since BitPay now has the coins, they'll know how to liquidate them in such a way to not effect the price by much. Besides, they have a lot more than this $1M worth of BTC in cold storage as anybody would be able to see via the Block Chain.
rampalija
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October 31, 2013, 07:05:01 AM
 #64

http://www.reddit.com/r/Bitcoin/comments/1pgny0/bitpay_processes_1_million_transaction_for/

Its for BFL btw. How and when will they convert the coins to USD?

Anybody knows?

Without reading any further then the OP, I may be able to answer.

Since BitPay now has the coins, they'll know how to liquidate them in such a way to not effect the price by much. Besides, they have a lot more than this $1M worth of BTC in cold storage as anybody would be able to see via the Block Chain.


yes i am thinking the same as you man, they are not stupid to dump all thoose coins once and loose 1/2 profit

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bclcjunkie
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November 01, 2013, 02:16:22 AM
 #65

+1 spot on..

The more bears in the forum, the better.  Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.
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November 01, 2013, 02:21:34 AM
 #66

precisely.. i guess bears trying to talk the price down heh... bitpay is not some amateur rushing out to dump the coins.. a payment processor company like that obviously knows exactly what to do to avoid such scenarios.. that applies to pretty much to any business that deals with demand and supply... Grin

http://www.reddit.com/r/Bitcoin/comments/1pgny0/bitpay_processes_1_million_transaction_for/

Its for BFL btw. How and when will they convert the coins to USD?

Anybody knows?

Without reading any further then the OP, I may be able to answer.

Since BitPay now has the coins, they'll know how to liquidate them in such a way to not effect the price by much. Besides, they have a lot more than this $1M worth of BTC in cold storage as anybody would be able to see via the Block Chain.
rampalija
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November 01, 2013, 10:02:05 AM
 #67

precisely.. i guess bulls trying to talk the price down heh... bitpay is not some amateur rushing out to dump the coins.. a payment processor company like that obviously knows exactly what to do to avoid such scenarios.. that applies to pretty much to any business that deals with demand and supply... Grin

http://www.reddit.com/r/Bitcoin/comments/1pgny0/bitpay_processes_1_million_transaction_for/

Its for BFL btw. How and when will they convert the coins to USD?

Anybody knows?

Without reading any further then the OP, I may be able to answer.

Since BitPay now has the coins, they'll know how to liquidate them in such a way to not effect the price by much. Besides, they have a lot more than this $1M worth of BTC in cold storage as anybody would be able to see via the Block Chain.


why whould BITpay dumps the  coins and then loose 1/2 his profit?! It is pure logic

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November 03, 2013, 08:49:35 PM
 #68

What was HashTrade thinking..  Who will buy their bfl contracts

ok
rampalija
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November 04, 2013, 11:08:05 PM
 #69

Still no dump XD

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Phinnaeus Gage
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November 05, 2013, 04:24:31 AM
 #70

Still no dump XD

BitPay won't do a dump. BTW, has anybody hunted down the tx? It'll be easy to spot. Just look for a 1000000 USD transaction. I think I'll post a bounty in Project Development.

~TMIBITW
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November 05, 2013, 05:31:23 AM
 #71

Just wow. Who spends 1m on BFL??

derpinheimer
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November 05, 2013, 05:32:48 AM
 #72

Still no dump XD

BitPay won't do a dump. BTW, has anybody hunted down the tx? It'll be easy to spot. Just look for a 1000000 USD transaction. I think I'll post a bounty in Project Development.

~TMIBITW

I thought it was already dumped on Bitstamp a few days ago..?
BarkinTree
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November 05, 2013, 05:52:20 AM
 #73

Still no dump XD

BitPay won't do a dump. BTW, has anybody hunted down the tx? It'll be easy to spot. Just look for a 1000000 USD transaction. I think I'll post a bounty in Project Development.

~TMIBITW

I thought it was already dumped on Bitstamp a few days ago..?
heard something about it being already done, through a combination of private sale and exchanges sales
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