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Este Nuno
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June 27, 2014, 06:41:33 PM
 #21

My prediction is that the coins will sell for 20% below market rate. Because the coins are being sold in such large blocks, there will be very few bidders. It's a buyers' market, for those who have a million bucks or more to spend.

But at least one of the bidders is going to be a syndicate of many smaller bidders wrapped up in to one. So the money will be there. I'd imagine there will be some decent bid action.
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June 27, 2014, 06:45:53 PM
 #22

Circle is by far one of the most accredited buyers for these coins and I've read that they are actively trying to get the whole 29.9K BTC.
I'm not totally sure but I believe they own over 50K btc as it is already, maybe more. It only makes sense for them to bid high as an auction like this will be a price setter.

The higher they pay for the 30K coins the more money they make on their 50K stack.

I believe these guys are going to overbid in order to lock down all the coins. I think we'll see bids around 3M for a 3K lot.

Just my 2 cents.
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June 27, 2014, 06:49:25 PM
 #23

Since , (as far as I understand) there would be different bids for each 3k pack , wouldn't it be possible for some bitcoin to go above market value and for some below?

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June 27, 2014, 06:53:22 PM
 #24

Since , (as far as I understand) there would be different bids for each 3k pack , wouldn't it be possible for some bitcoin to go above market value and for some below?

Yes, it's possible, But like I said before, I believe that circle will overbid each lot by a fair amount to add that 30K to their stack.
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June 27, 2014, 07:04:15 PM
 #25

some bidders are definitely going to over bid. Possibly over bid a LOT in order to get the coins.
Thoughts?
This isn't eBay.  I doubt any of the buyers are stupid enough to send in a bid above market rates.

Firstly, its not stupid, second, what if they did, let's say they bid 1000$ a btc, and got filled for 30K btc, would you start selling your btc at $600, I doubt it!
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June 27, 2014, 07:05:00 PM
 #26

Circle is by far one of the most accredited buyers for these coins and I've read that they are actively trying to get the whole 29.9K BTC.
I'm not totally sure but I believe they own over 50K btc as it is already, maybe more. It only makes sense for them to bid high as an auction like this will be a price setter.

The higher they pay for the 30K coins the more money they make on their 50K stack.

I believe these guys are going to overbid in order to lock down all the coins. I think we'll see bids around 3M for a 3K lot.

Just my 2 cents.

I'm with you, Bobsurplus.

Below market is just not going to happen. Simple as that.



Yeah, I'm not sure why people cant wrap their head around something so simple as this.
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June 27, 2014, 07:13:04 PM
 #27

Circle is by far one of the most accredited buyers for these coins and I've read that they are actively trying to get the whole 29.9K BTC.
I'm not totally sure but I believe they own over 50K btc as it is already, maybe more. It only makes sense for them to bid high as an auction like this will be a price setter.

The higher they pay for the 30K coins the more money they make on their 50K stack.

I believe these guys are going to overbid in order to lock down all the coins. I think we'll see bids around 3M for a 3K lot.

Just my 2 cents.

I'm with you, Bobsurplus.

Below market is just not going to happen. Simple as that.



Yeah, I'm not sure why people cant wrap their head around something so simple as this.

You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink
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June 27, 2014, 07:16:58 PM
 #28

I really think the coins will be sent above market price.

It just makes sense. Nobody decides to buy thousands of coins in one day.
People who are bidding wanted those coins and knew it would have costed a lot to pump an exchange.
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June 27, 2014, 07:17:23 PM
 #29

Circle is by far one of the most accredited buyers for these coins and I've read that they are actively trying to get the whole 29.9K BTC.
I'm not totally sure but I believe they own over 50K btc as it is already, maybe more. It only makes sense for them to bid high as an auction like this will be a price setter.

The higher they pay for the 30K coins the more money they make on their 50K stack.

I believe these guys are going to overbid in order to lock down all the coins. I think we'll see bids around 3M for a 3K lot.

Just my 2 cents.

I'm with you, Bobsurplus.

Below market is just not going to happen. Simple as that.



Yeah, I'm not sure why people cant wrap their head around something so simple as this.

You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink

LMAO, sure, I guess they can sell if they want to be so depressed in a few years that they kill themselves.

Cheesy
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June 27, 2014, 07:25:40 PM
 #30


You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink

The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke.

Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it.

Most of the people that fail to see the big picture fall into this category.


https://www.youtube.com/watch?v=Ve46peMWU5w
i wonder what the difference was (watch the entire video)  Grin

-------------------------------------------------------------------------

edit to Devin: Spitting on him like that was a little immature on her part. He yelled at her to get out, but I don't think he deserved that. And I do not know if that was real or not. (Could have easily paid some hooker to do the prank)

-----------------------------------------------------------------------------

re edit to bob surplus: (without bumping thread for unrelated topics)
I like fousey tube. Watch this if interested http://www.youtube.com/user/TheOckShow/videos
they do a few videos in the hood (like my signature) and the guys there grab and punch them.

Youtube pranks are great (especially the ones) like pregnancy prank (see the parents freak out lol)
Torque
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June 27, 2014, 07:29:13 PM
 #31


You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink

The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke.

Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it.

Most of the people that fail to see the big picture fall into this category.


And now you know exactly why 95% of bitcoiners who were involved with bitcoin 2-3 years ago, even one year ago, are still no richer or better off than they are today.  Because they had a chance to buy tons of bitcoins for pennies or even dollars, and just sit on them for a few years.  But they didn't, as soon as the price jumped 25%, 50%, or even doubled, they cashed out immediately.  Or day traded and pissed all the money away.  So stupid, many of them could be extremely wealthy today, had they just purchased a few thousand bitcoins and just held them.

The same thing is going to repeat itself from this point forward as well.  The majority of bitcoins will eventually find their way from the hands of the stupid and poor to the rich and wealthy, simply because the stupid and poor don't know how to invest properly and just want to buy some stupid toy with their "winnings".
Bobsurplus
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June 27, 2014, 07:29:26 PM
 #32


You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink

The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke.

Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it.

Most of the people that fail to see the big picture fall into this category.


I totally agree, mostly because I was that guy at one point between 10$-260$ lmao, those were the good ol days. Luckily I picked up way more btc then I could have afforded when I started buying. Paid all my debts, made boat loads and still hold a "fair" amount of btc for the future. Hopefully in 2-8 years I'll be able to fully retire, on a yacht somewhere in the Mediterranean, most probably Monaco due to the lack of taxes. Cheesy
rapsaodan84
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June 27, 2014, 07:33:32 PM
 #33

Will we ever know the price those coins were sold for? Or is it confidential?

It seems we'll never know, that's too bad.
Bobsurplus
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June 27, 2014, 07:35:07 PM
 #34


You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink

The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke.

Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it.

Most of the people that fail to see the big picture fall into this category.


https://www.youtube.com/watch?v=Ve46peMWU5w
i wonder what the difference was (watch the entire video)  Grin
-------------------------------------------------------------------------
edit to Devin: Spitting on him like that was a little immature on her part. He yelled at her to get out, but I don't think he deserved that. And I do not know if that was real or not. (Could have easily paid some hooker to do the prank)

It's real, valdy does it big. I love his pranks, but they are a bit disrespectful. If you like that though you shoudl watch some of Fouseytube on youtube... here's on of my favorites.

http://www.youtube.com/watch?v=_UmOCKFigME
Bobsurplus
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June 27, 2014, 07:37:44 PM
 #35


I totally agree, mostly because I was that guy at one point between 10$-260$ lmao, those were the good ol days. Luckily I picked up way more btc then I could have afforded when I started buying. Paid all my debts, made boat loads and still hold a "fair" amount of btc for the future. Hopefully in 2-8 years I'll be able to fully retire, on a yacht somewhere in the Mediterranean, most probably Monaco due to the lack of taxes. Cheesy


Better renounce that U.S. Citizenship now, before you make any gains. (I am assuming you are in the US?)

The U.S. Government taxes people on gains they would have made, even if they renounce their citizenship.

Oh, the U.S. Government...how I hate you and every single mindless troll that you employ.

Nope, not American.

Thank god I was born in Canada, I do however have a dual citizenship but the other country has even harsher taxes then we have in Canada.
CEG5952
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June 27, 2014, 08:21:31 PM
 #36

I imagine price would immediately jump with panic buys and short squeeze, but I think the euphoria may be short-lived. BFX long stats continue to scare me, and fall in line with Coinsight flair count (Grin). I think traders and bitcoiners are overwhelmingly bullish, and expects a bubble soon. But what about retail? Wink

hacknoid
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June 27, 2014, 11:15:44 PM
 #37

Will we ever know the price those coins were sold for? Or is it confidential?

It seems we'll never know, that's too bad.


Even if we don't find out the sale price of the coins, we're pretty likely to get info on what some of the failed bids were.  So worst case, we know the amount that was not high enough for the coins to go for, and can deduce from there.

BitcoinRunner : Side scroller game powered entirely by Bitcoin! 
Game (alpha): http://hacknoid.ca/bitcoinrunner
Discussion: https://bitcointalk.org/index.php?topic=907618.0
ArticMine
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June 27, 2014, 11:49:54 PM
 #38


You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!?  And they are trying to get even more btc??  Gasp!  I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing!

In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!!  They could make so much money!!

Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit?  Why would anyone even hold them long term?  I'm completely baffled!!

/S   Wink

The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke.

Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it.

Most of the people that fail to see the big picture fall into this category.


And now you know exactly why 95% of bitcoiners who were involved with bitcoin 2-3 years ago, even one year ago, are still no richer or better off than they are today.  Because they had a chance to buy tons of bitcoins for pennies or even dollars, and just sit on them for a few years.  But they didn't, as soon as the price jumped 25%, 50%, or even doubled, they cashed out immediately.  Or day traded and pissed all the money away.  So stupid, many of them could be extremely wealthy today, had they just purchased a few thousand bitcoins and just held them.

The same thing is going to repeat itself from this point forward as well.  The majority of bitcoins will eventually find their way from the hands of the stupid and poor to the rich and wealthy, simply because the stupid and poor don't know how to invest properly and just want to buy some stupid toy with their "winnings".

This is the main reason why many in the "middle class" or even "the poor" in most OECD countries do not get ahead. They fail to realize that the secret to wealth lies in spending less and saying no to marketers and sales people, rather than earning more.

A good rule of thumb here is the more branding and marketing, the worse the deal is. This applies just as well to investments as it does to day to day products. As for bitcoin I say buy and hold, the time to get out will come eventually. One good indicator as to when to sell is when bitcoin is heavily marketed and sold to consumers.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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June 28, 2014, 06:27:03 AM
 #39

And now you know exactly why 95% of bitcoiners who were involved with bitcoin 2-3 years ago, even one year ago, are still no richer or better off than they are today.  Because they had a chance to buy tons of bitcoins for pennies or even dollars, and just sit on them for a few years.  But they didn't, as soon as the price jumped 25%, 50%, or even doubled, they cashed out immediately.  Or day traded and pissed all the money away.  So stupid, many of them could be extremely wealthy today, had they just purchased a few thousand bitcoins and just held them.

The same thing is going to repeat itself from this point forward as well.  The majority of bitcoins will eventually find their way from the hands of the stupid and poor to the rich and wealthy, simply because the stupid and poor don't know how to invest properly and just want to buy some stupid toy with their "winnings".

This is the main reason why many in the "middle class" or even "the poor" in most OECD countries do not get ahead. They fail to realize that the secret to wealth lies in spending less and saying no to marketers and sales people, rather than earning more.

A good rule of thumb here is the more branding and marketing, the worse the deal is. This applies just as well to investments as it does to day to day products. As for bitcoin I say buy and hold, the time to get out will come eventually. One good indicator as to when to sell is when bitcoin is heavily marketed and sold to consumers.

+1, If a product needs to be marketed, then you don't really need it at all.

The secret to becoming wealthy is to simply spend much less than you make (i.e. save at least 50% of your pre-tax income) until you reach financial independence. Until then every single dollar you spend is another dollar (actually 2 dollars pre-tax) that you have to work for at some point later in life. Becoming financially independent simply means that you've gained enough investment income to cover your living expenses and thus don't have to work, and now are free to work on your own interests. Anyone who saves 50% of income for 20 years and re-invest that savings throughout, will end up with investment income that equals their spending habits well before retirement.

The problem for the vast majority of people is they've been told/taught to spend money as it comes in, largely on junk or services that they don't really need. That is the behavior of peasants who never expect to become truly independent, but assume they will work forever or until the government steps in with SS (which won't exist in any meaningful form for my generation, most of whom I expect will have to work until the day they die).

If you think this way, then bitcoins just become yet another asset class (among others) to constantly add your position to. Since you should be spending much less than you make there is no reason to sell and can simply watch your BTC position grow.
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June 28, 2014, 06:41:26 AM
 #40

And now you know exactly why 95% of bitcoiners who were involved with bitcoin 2-3 years ago, even one year ago, are still no richer or better off than they are today.  Because they had a chance to buy tons of bitcoins for pennies or even dollars, and just sit on them for a few years.  But they didn't, as soon as the price jumped 25%, 50%, or even doubled, they cashed out immediately.  Or day traded and pissed all the money away.  So stupid, many of them could be extremely wealthy today, had they just purchased a few thousand bitcoins and just held them.

The same thing is going to repeat itself from this point forward as well.  The majority of bitcoins will eventually find their way from the hands of the stupid and poor to the rich and wealthy, simply because the stupid and poor don't know how to invest properly and just want to buy some stupid toy with their "winnings".

This is the main reason why many in the "middle class" or even "the poor" in most OECD countries do not get ahead. They fail to realize that the secret to wealth lies in spending less and saying no to marketers and sales people, rather than earning more.

A good rule of thumb here is the more branding and marketing, the worse the deal is. This applies just as well to investments as it does to day to day products. As for bitcoin I say buy and hold, the time to get out will come eventually. One good indicator as to when to sell is when bitcoin is heavily marketed and sold to consumers.

+1, If a product needs to be marketed, then you don't really need it at all.

The secret to becoming wealthy is to simply spend much less than you make (i.e. save at least 50% of your pre-tax income) until you reach financial independence. Until then every single dollar you spend is another dollar (actually 2 dollars pre-tax) that you have to work for at some point later in life. Becoming financially independent simply means that you've gained enough investment income to cover your living expenses and thus don't have to work, and now are free to work on your own interests. Anyone who saves 50% of income for 20 years and re-invest that savings throughout, will end up with investment income that equals their spending habits well before retirement.

The problem for the vast majority of people is they've been told/taught to spend money as it comes in, largely on junk or services that they don't really need. That is the behavior of peasants who never expect to become truly independent, but assume they will work forever or until the government steps in with SS (which won't exist in any meaningful form for my generation, most of whom I expect will have to work until the day they die).

If you think this way, then bitcoins just become yet another asset class (among others) to constantly add your position to. Since you should be spending much less than you make there is no reason to sell and can simply watch your BTC position grow.

People in the US are being bombarded by marketing campaign everyday. And being brainwash into thinking certain products are associated with certain emotions. Couple with easy money policy where consumers can spend what they do not have, of course everyone spend like there is no tomorrow.


 
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