Could I drive up the Bitcoin price with a clearing purchase? - page 3.

N12

donator

Activity: 1610

Merit: 1010

Why would you want to put up the price on yourself by announcing it in public?

I sense bullshit. This is kind of like the people announcing to sell 50k BTC.

Are we really that kind of penny stock-ish? Sad

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

http://bitcoin.clarkmoody.com/

This site has calculators to show how much BTC you can buy for you USD.

Enjoy.

Omni

newbie

Activity: 42

Merit: 0

Quote from: cypherdoc on March 10, 2012, 09:17:47 AM

the price will go up. the question is just how much and you can't just expect it to be related to whats on the order book right now. but as Proudhon said, theres alot of money on the sideline that is waiting for something to happen. as someone who has put in alot of money to Bitcoin i can tell you you can affect the market.

$85K is a significant chunk of change and the bots can sense buying pressure and will react accordingly to buy the momentum or cover shorts. you could hurt alot of shorts. i have. Grin

btw, i put on a short of AAPL this past week. its at the end of a parabola and now with Jobs gone i can't see a path anywhere but down for the stock.

Nice to see that someone has done what I plan to do already. How much were you able to raise the price?

Quote from: proudhon on March 10, 2012, 09:13:25 AM

Just curious, at what price did you get into AAPL?

I purchased 75 shares on Feb 3, 2011 at $328.00 and 100 more shares on Feb 11, 2011 at $340.00.

As such, I've realized almost a 60% gain.

Quote from: Koekiemonster on March 10, 2012, 09:01:22 AM

Omni, you can check http://mtgoxlive.com/orders to see the real-time market depth.

If you would place a market order with your 85k$ right now, you would drive the price up to about 5.02 since this would be the last transaction. After your order anything can happen, since there's a large spread and the market will then decide what happens next.

Thank you! I added this to my favourites.

Quote from: proudhon on March 10, 2012, 08:57:46 AM

Well, an immediate buy of ~$85,000 right now -- the price is at $4.80 as I type this -- would take the price to $5.00. It's unlikely it'd stay there. There's a chance it could kick off a round of buying and break the correction we're in right now -- there's a lot of money sitting on the sidelines right now waiting for something to happen (I've got a decent chunk of change waiting for the right time). Of course, there's a good chance the price would quickly come back down.

To answer the question directly, no, an $85,000 buy wouldn't drive the price up significantly.

I suppose I could leverage my position.

Quote from: friedcat on March 10, 2012, 06:16:42 AM

If you leverage your $85k up using the 10:1 choice at Bitcoinica, you might be able to drive the price up a little bit.
But I wonder if Bitcoinica has so many dollars to lend to you though.

I will speak to the owner and see what arrangement we can come up with.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: Koekiemonster on March 10, 2012, 09:01:22 AM

Omni, you can check http://mtgoxlive.com/orders to see the real-time market depth.

If you would place a market order with your 85k$ right now, you would drive the price up to about 5.02 since this would be the last transaction. After your order anything can happen, since there's a large spread and the market will then decide what happens next.

the price will go up. the question is just how much and you can't just expect it to be related to whats on the order book right now. but as Proudhon said, theres alot of money on the sideline that is waiting for something to happen. as someone who has put in alot of money to Bitcoin i can tell you you can affect the market.

$85K is a significant chunk of change and the bots can sense buying pressure and will react accordingly to buy the momentum or cover shorts. you could hurt alot of shorts. i have. Grin

btw, i put on a short of AAPL this past week. its at the end of a parabola and now with Jobs gone i can't see a path anywhere but down for the stock.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: Omni on March 10, 2012, 06:13:15 AM

Hi guys,
I currently am sitting on 175 shares of AAPL stock. For those of you who are aware, Apple shares are trading at rough $550,00 USD. I am planning to liquidate my holding and am thinking of reinvesting in Bitcoin.

Would a purchase of $85,000 of BTC drive up the price significantly?

This is not a troll post, I am genuinely interested.

Thanks for your time,
Omni

Just curious, at what price did you get into AAPL?

stochastic

hero member

Activity: 532

Merit: 500

Quote from: Omni on March 10, 2012, 06:13:15 AM

Hi guys,
I currently am sitting on 175 shares of AAPL stock. For those of you who are aware, Apple shares are trading at rough $550,00 USD. I am planning to liquidate my holding and am thinking of reinvesting in Bitcoin.

Would a purchase of $85,000 of BTC drive up the price significantly?

This is not a troll post, I am genuinely interested.

Thanks for your time,
Omni

Go for it.

Koekiemonster

sr. member

Activity: 321

Merit: 250

Bitbuy.nl!

Omni, you can check http://mtgoxlive.com/orders to see the real-time market depth.

If you would place a market order with your 85k$ right now, you would drive the price up to about 5.02 since this would be the last transaction. After your order anything can happen, since there's a large spread and the market will then decide what happens next.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: MemoryDealers on March 10, 2012, 08:51:24 AM

In the current market, it likely wouldn't move the price more than $0.10

Well, an immediate buy of ~$85,000 right now -- the price is at $4.80 as I type this -- would take the price to $5.00. It's unlikely it'd stay there. There's a chance it could kick off a round of buying and break the correction we're in right now -- there's a lot of money sitting on the sidelines right now waiting for something to happen (I've got a decent chunk of change waiting for the right time). Of course, there's a good chance the price would quickly come back down.

To answer the question directly, no, an $85,000 buy wouldn't drive the price up significantly.

MemoryDealers

vip

Activity: 1052

Merit: 1155

In the current market, it likely wouldn't move the price more than $0.10

Dansker

hero member

Activity: 740

Merit: 500

Hello world!

Not if you buy over time.

If you buy them all at once, there would be a price hike and then it would stabilize again, and you would lose money, so buy over time.

friedcat

donator

Activity: 848

Merit: 1005

If you leverage your $85k up using the 10:1 choice at Bitcoinica, you might be able to drive the price up a little bit.
But I wonder if Bitcoinica has so many dollars to lend to you though.

Omni

newbie

Activity: 42

Merit: 0

Hi guys,
I currently am sitting on 175 shares of AAPL stock. For those of you who are aware, Apple shares are trading at rough $550,00 USD. I am planning to liquidate my holding and am thinking of reinvesting in Bitcoin.

Would a purchase of $85,000 of BTC drive up the price significantly?

This is not a troll post, I am genuinely interested.

Thanks for your time,
Omni

Topic: Could I drive up the Bitcoin price with a clearing purchase? - page 3. (Read 5031 times)