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Author Topic: Insane amount of bitcoins  (Read 8038 times)
wolftaur
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August 31, 2011, 01:27:13 PM
 #21

Part of me feels bad for Maria. Perhaps she's serious and wanted to be nice.

But a little part of me thinks Maria might actually be Bruce  Cheesy

I really have to stop coming here so much, it's playing with my mind.

It's OK. The internet difficulty just went down again.

"MOOOOOOOM! SOME MYTHICAL WOLFBEAST GUY IS MAKING FUN OF ME ON THE INTERNET!!!!"
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Maria (OP)
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August 31, 2011, 01:37:29 PM
 #22

I did send Bruce a text message a short time ago before the NYC BTConference.

Quote
   
Me: hi bruce 8:07 AM
5 more messages
+1646xxxxxxx: Hi. 8:36 AM
+1646xxxxxxx: Who are you? :-) 8:51 AM
Me: Maria from the BTC forum 9:42 AM
Me: Will there be Valet parking at the conference? 9:56 AM
+1646xxxxxxx2: No. No valet parking. Not that I know of. 11:14 AM
Me: Ok ill try to be there. Thanks Bruce 5:05 PM
+1646xxxxxxx: Great. You registered for the conference online? 5:25 PM

Very sad things Ive been reading about Bruce, hope he can keep his chin up.

Maria.

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August 31, 2011, 01:52:03 PM
 #23

I did send Bruce a text message a short time ago before the NYC BTConference.

Quote
   
Me: hi bruce 8:07 AM
5 more messages
+1646xxxxxxx: Hi. 8:36 AM
+1646xxxxxxx: Who are you? :-) 8:51 AM
Me: Maria from the BTC forum 9:42 AM
Me: Will there be Valet parking at the conference? 9:56 AM
+1646xxxxxxx2: No. No valet parking. Not that I know of. 11:14 AM
Me: Ok ill try to be there. Thanks Bruce 5:05 PM
+1646xxxxxxx: Great. You registered for the conference online? 5:25 PM

Very sad things Ive been reading about Bruce, hope he can keep his chin up.

Maria.
I don't get it...



Quote
   
jackjack: hi bruce 8:07 AM
7 more messages
+1646xxxxxxx: Hi. 8:36 AM
+1646xxxxxxx: Who are you? :-) 8:51 AM
jackjack: jackjack from the BTC forum 9:42 AM
jackjack: I want to buy 22 millions of BTC, do you want to sell me some? 9:56 AM
+1646xxxxxxx2: No. You should post on the forum about that, I've other things to take care right now 11:14 AM
jackjack: Ok I'll try to post there. Thanks Bruce 5:05 PM
+1646xxxxxxx: Great. You registered for the conference online? 5:25 PM

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Maria (OP)
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August 31, 2011, 01:55:11 PM
 #24

There is nothing to get. Piper said I was Bruce, I laughed, then remember the text I sent him and posted it here for amusement purposes. Hope you enjoyed!

Maria.

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August 31, 2011, 01:56:18 PM
 #25

There is nothing to get. Piper said I was Bruce, I laughed, then remember the text I sent him and posted it here for amusement purposes. Hope you enjoyed!

Maria.

I was being funny, btw, I know Maria isn't Bruce because Maria speaks Spanish and Bruce doesn't.
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August 31, 2011, 02:00:47 PM
 #26

IOC Order: http://financial-dictionary.thefreedictionary.com/IOC+Order

Iceberg/Reserve order:
An Iceberg order allows you to submit an order (generally a large volume order) while publicly disclosing only a portion of the submitted order.

A list of various order types:
http://www.interactivebrokers.com/en/p.php?f=orderTypes
Maria (OP)
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August 31, 2011, 02:02:49 PM
 #27

IOC Order: http://financial-dictionary.thefreedictionary.com/IOC+Order

Iceberg/Reserve order:
An Iceberg order allows you to submit an order (generally a large volume order) while publicly disclosing only a portion of the submitted order.

A list of various order types:
http://www.interactivebrokers.com/en/p.php?f=orderTypes

Why would MagicalTux do that? Why not execute the order and disclosing the size of the order publicly? Why HIDE portion of the order??

Blackout
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August 31, 2011, 02:03:08 PM
 #28

This post is most non non non non non non non non non excellent...

Here's the truth:

Announce you plan to buy a big load of bitcoins.
Doesn't matter if you do or don't
nothing happens till someone really does purchase said bitcoins,
market reacts same as ever when there are buyers and sellers.

This post effects nothing.

I will have you know I plan on purchasing 7,167,700 btc (the entire amount currently) when the price hits
0.00000001 (Bitcoins true value)

I have my 7 cents ready now to make this purchase.

I just wanted to warn the market community.



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August 31, 2011, 02:06:02 PM
 #29

IOC Order: http://financial-dictionary.thefreedictionary.com/IOC+Order

Iceberg/Reserve order:
An Iceberg order allows you to submit an order (generally a large volume order) while publicly disclosing only a portion of the submitted order.

A list of various order types:
http://www.interactivebrokers.com/en/p.php?f=orderTypes

Why would MagicalTux do that? Why not execute the order and disclosing the size of the order publicly? Why HIDE portion of the order??

I think when the order executes, then it becomes public, but the point is that a portion of the order is kept hidden up until it executes.

But I might be wrong.  Cheesy
Maria (OP)
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August 31, 2011, 02:10:16 PM
 #30

That might be, but isn't the point of BTC transparency? I understand MTGox are the big exchangers but the way they handle such orders is not crystal clear. WE WANT FULL ORDER TRANSPARENCY, NO DARK POOLS, NO ICEBERGS, NO BULLSHIT. BUY and SELL, That is it!!

Maria (OP)
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August 31, 2011, 02:12:48 PM
 #31

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

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August 31, 2011, 02:15:27 PM
 #32

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

What?  No.  If you BUY a standing ask order right now, of any size, it will not be kept secret from anyone.  We'll all see it.

Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
Maria (OP)
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August 31, 2011, 02:20:19 PM
 #33

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

What?  No.  If you BUY a standing ask order right now, of any size, it will not be kept secret from anyone.  We'll all see it.

We are talking about the order bro. If I put a 10,000 BTC buy at 7.00 will you be able to see such order?? No, only a part of it, not the true size. If you knew there was 10,000 BTC waiting at 7, would it affect your trading strategy?? Think please...

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August 31, 2011, 02:22:38 PM
 #34

I think freedom of association and its subordinate corrollaries are human rights and they supersede your preference of supposed "transparency". How one trades should not be up to mere subjective whims. I see no moral obligation in making everybody's business public and Bitcoin exchanges small or large should be no exception.

Simply put, if you do not like MtGox's practices, use an exchange you condone. It is in MtGox's property right to (with informed consent) to obscure and manage transactions at its whim.

You might be the most popular neighbor on the block and quite a host of tea parties but if I should wish to be a guest, do I have the right to admonish and search your home and inspect all of your tea?

Of course not.
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August 31, 2011, 02:23:05 PM
 #35

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

What?  No.  If you BUY a standing ask order right now, of any size, it will not be kept secret from anyone.  We'll all see it.

We are talking about the order bro. If I put a 10,000 BTC buy at 7.00 will you be able to see such order?? No, only a part of it, not the true size. If you knew there was 10,000 BTC waiting at 7, would it affect your trading strategy?? Think please...

I didn't know that merely placing orders was also an act of buying them (e.g. "I will BUY a HUGE order").

Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
Maria (OP)
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August 31, 2011, 02:24:43 PM
 #36

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

What?  No.  If you BUY a standing ask order right now, of any size, it will not be kept secret from anyone.  We'll all see it.

We are talking about the order bro. If I put a 10,000 BTC buy at 7.00 will you be able to see such order?? No, only a part of it, not the true size. If you knew there was 10,000 BTC waiting at 7, would it affect your trading strategy?? Think please...

I didn't know that merely placing orders was also an act of buying them (e.g. "I will BUY a HUGE order").

I am glad you got the point.

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August 31, 2011, 02:27:41 PM
 #37

I am glad you got the point.

When are you buying the 80,000 BTC from MT Gox?
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August 31, 2011, 02:28:49 PM
 #38

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

What?  No.  If you BUY a standing ask order right now, of any size, it will not be kept secret from anyone.  We'll all see it.

We are talking about the order bro. If I put a 10,000 BTC buy at 7.00 will you be able to see such order?? No, only a part of it, not the true size. If you knew there was 10,000 BTC waiting at 7, would it affect your trading strategy?? Think please...

I didn't know that merely placing orders was also an act of buying them (e.g. "I will BUY a HUGE order").

I am glad you got the point.

It's funny though, I've placed orders before, then taken them down, and despite, according to you, that in that case I bought something, the amount of money in my account doesn't change.  So, on your view, is this what happens?

1.  Place buy order below market price (e.g. $7.00)
2.  Exchange charges me the cost of $7.00 times the number of units I placed the order for.
3.  I cancel the order.
4.  Exchange gives me a full refund.


Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
proudhon
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August 31, 2011, 02:33:35 PM
 #39

Here's what you said:

Quote
The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

Here's what you should have said:

Quote
The problem with the IOC/Iceberg is that right now in my case, I will BUY PLACE a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

MtGox doesn't keep actual purchases secret.  They might keep order placements secret, however.

Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
Maria (OP)
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August 31, 2011, 02:36:29 PM
 #40

What I am saying is, If there is an order for 10k BTC at 7.00, that means that when the price hits 7.00 my 10k will be excuted and the price will rise to say 7.50...
If YOU would've known that my order was there for that size, you might have placed an order right next to mine to catch those 50 points on the way up/ Transparency allows such judgments.

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