Peter Thiel & Bitcoin | Bitcointalksearch.org

naidray

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Quote from: AT101ET on January 03, 2018, 05:37:38 AM

Probably not.
He invested between $15-$20m in mid 2017.
With the price increase their holdings have increased drastically. If they were to cash out a significant amount then it would affect the price leaving the rest of their coins worth less.
The same goes with anyone holding large reserves looking to cash out. They sell small walls so they don't affect the price allowing the market to set the price and selling their coins in batches at the otherwise higher rates.

Yeah, these guys are usually looking at the bigger picture and the last thing they would want to do is to cause a huge scare in the market by dumping their coins all at once. Just like you have said, they would prefer to just go out bit by bit without it having any serious impact on the market and that is if they really want to do that anytime soon anyway.

Still, I doubt OP's concern will ever affect the price. That is a guy who I am sure is not really bothered about cashing out anytime soon and even if he really wants to do, he would not just go out all at once. To him, the amount he has thrown in should be more like a trial and error kind of thing, and with some of these big guys really being a part of the community; you should even expect better days ahead for bitcoin.

raven7886

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Quote from: nidacoinlove on January 03, 2018, 06:22:42 AM

Quote from: AT101ET on January 03, 2018, 05:37:38 AM

Probably not.
He invested between $15-$20m in mid 2017.
With the price increase their holdings have increased drastically. If they were to cash out a significant amount then it would affect the price leaving the rest of their coins worth less.
The same goes with anyone holding large reserves looking to cash out. They sell small walls so they don't affect the price allowing the market to set the price and selling their coins in batches at the otherwise higher rates.

I guess 15 to 20 million dollar is not such a huge amount at the moment to affect bitcoin anyhow for a long-term. It may affect the price for a little while but where BTC stands with more than 200 Billion dollar market cap in which the said amount makes a share of less than 1%. Also we can term it as a pilot project investment by Peter Thiel's founder. Could be just a trial based to check whether to keep it in future or not.

It isn't. Comparing the amount to the market cap, that would probably have just some little effect on the market and I am sure that would be like a dash at the price he may even want to dump it if he ever wants to. A little while is even over rated, and from the look of it and comparing it to what this guy is worth, I am sure he has just decided to throw that into bitcoin, just in case it gets huge. We all know how these rich dudes think.

coinplus

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Quote from: arbitrage001 on January 03, 2018, 05:56:45 AM

15-20M is less than 1% of his wealth. Should view it as toy money rather than serious investment.

Toy money indeed. It may look big to some of us, but that is like some chicken change. It is good that bitcoin is attracting a lot of big investors and that really makes a lot of sense for the future of bitcoin anyway. Yeah, we cannot predict the future just because of that, but the truth is that, these guys would not even blink an eye on their holdings in bitcoin for a very long time knowing that greater opportunities lie ahead.

TERA2

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Deb Rah Von Doom

Would be funny if one of these big shot investors got in right for crypto winter

nl247

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Quote from: hugeblack on January 03, 2018, 05:28:09 AM

-Peter Thiel's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.
-Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report says.
-Bitcoin rises more than 11 percent to trade near $14,711, according to Coinbase.[1]

Do you think this investor will affect price?

Taking a look at the total market cap and the amount he has, that would really not have much effect on the value of bitcoin even if he decides to dump all he is holding. For example, Charlie Lee that went all out in LTC, do you think he would have been holding a little amount of the LTC he founded and while dumping everything, did it affect the market in any negative way? The thing is that, these guys are even wise enough to let their actions affect the market, and would rather sell in batches than allow that to happen.

jjacob

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Quote from: hugeblack on January 03, 2018, 05:28:09 AM

-Peter Thiel's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.
-Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report says.
-Bitcoin rises more than 11 percent to trade near $14,711, according to Coinbase.[1]

Do you think this investor will affect price?

It probably did provide a flip to Bitcoin's price, but that is about it. Bitcoin has stabilized in the $15,000 range where as other altcoins are rising. Apart from the fact that he has invested, there are 2 things to note in the report
1) He has invested in Bitcoins periodically and not in the recent rally
2) He now thinks Bitcoin is over valued and would feel comfortable buying bitcoins when they are around $3,000 each
Statements like that cannot provide a boost for Bitcoin.

armansolis593

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Quote from: hugeblack on January 03, 2018, 05:28:09 AM

Do you think this investor will affect price?

Whenever there is a huge player coming into bitcoin it gains the attention of people and starting to wonder why would a rich guy invest in bitcoin when other say its a bubble or a fraud, it may not affect the price of bitcoin for now but it will surely drive a lot of people to have or invest in bitcoin more which will change the price of bitcoin to a huge margin.

timerland

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Quote from: hugeblack on January 03, 2018, 05:28:09 AM

-Peter Thiel's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.
-Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report says.
-Bitcoin rises more than 11 percent to trade near $14,711, according to Coinbase.[1]

Do you think this investor will affect price?

Don't necessarily think so. While this is a significant amount of money, I think that they will still hold onto it and not sell. BTC isn't over yet Grin

Quote from: Samarkand on January 03, 2018, 11:49:02 AM

Quote from: TERA2 on January 03, 2018, 07:18:26 AM

... Bitcoin hasnt changed. Actually its kind of gotten worse.

The important properties of Bitcoin are still the same. I concede that a few things
were better at the beginning (e.g. mining was possible on consumer hardware and
didn´t require ASICs), but the important features still work flawlessly:

-the 21M supply hard cap is still set in stone
-the block reward decreases according to the predefined schedule
-the brightest minds in the cryptocurrency scene are working on Bitcoin and Bitcoin-related services
-the developers prioritize security over everything else
...

I would have to agree here. It is great that hard cap is set to 21 mil, as that greatly cuts down the possibility of over production and then a downfall of Bitcoin. This is what sets it apart from multiple other alts.

However, all we can do is wait for the lightning network to be implemented to help the mem pool relax a bit.

realr0ach

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#TheGoyimKnow

Anyone who has 2.5 billion dollars and is still actively playing slot machines trying to acquire more money has a mental disorder. Bitcoin is not a pro-freedom movement either, so dumping money in this shit is not some humanitarian effort. It's a completely centralized, non-fungible, govt tracking system for fucks sake that's just going to help central bankers "de-cash" civilization and further their control grid in the end.

If you were actually trying to do a humanitarian effort, you would attempt to blow up the Comex and LBMA scam by taking physical delivery of large amounts of silver (because it's way harder to move the gold market). People will regain freedom by using physical metals. They're not getting anything but enslavement out of bitcoin in the end.

error08

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Quote from: hugeblack on January 03, 2018, 05:28:09 AM

-Peter Thiel's Founders Fund has bought millions of dollars in bitcoin,
Do you think this investor will affect price?

They can affect the price of an exchange if cash out at once, it's a big investment in bitcoin.
But, it can't affect bitcoin price significantly across the global exchange.
If Peter Thiel has invested in bitcoin since mid-2017, why it's published just now? as market react to a good or bad news, this is a way to influence the market.

player514

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Quote from: AT101ET on January 03, 2018, 05:37:38 AM

Probably not.
He invested between $15-$20m in mid 2017.
With the price increase their holdings have increased drastically. If they were to cash out a significant amount then it would affect the price leaving the rest of their coins worth less.
The same goes with anyone holding large reserves looking to cash out. They sell small walls so they don't affect the price allowing the market to set the price and selling their coins in batches at the otherwise higher rates.

Think about the idea behind him putting in millions of dollars. It influences the public to put their money in too. They see that on one hand, bitcoin has no physical backing so they're nervous to put their money in right after the drop. However, they see this big news that Peter Thiel is putting millions of his money (regardless of how much he's actually worth) and say "wow that must be a good idea!" It's the effect that snowballs through and ends up giving bitcoin more investors. Then they see the price rising, and they put more/more people hop in.

Samarkand

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Quote from: dothebeats on January 03, 2018, 04:58:32 PM

...

Aren't fast transaction times and cheap fees one of these important features too? Apparently that area of importance seems to have declined and more and more users of bitcoin are utterly annoyed of how fast/slow things are processed and how expensive a transaction within the bitcoin network can be. ...

Of course I agree that the experience when making transactions with Bitcoin is
not as smooth as it once was. However, this is a direct result of the high value that the Bitcoin
developers place on network security. Raising the block size would alleviate some
of the current issues with transactions. Nevertheless, this involves certain trade-offs
that would make the Bitcoin network less secure, which is why most people are heavily
opposed to raising the block size limit.

However, in my opinion Bitcoin´s use case in the long-term is to be a store of value.
Transaction fees aren´t a real problem if you are not using it for everyday purchases but
rather make maybe 1-2 cashouts a year from your long-term Bitcoin investment position.

The world needs sound money more than it needs yet another payment system in my opinion.
And Bitcoin´s monetary policy is definitely a huge improvement over traditional fiat currencies.

dothebeats

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Cashback 15%

Quote from: Samarkand on January 03, 2018, 11:49:02 AM

The important properties of Bitcoin are still the same. I concede that a few things
were better at the beginning (e.g. mining was possible on consumer hardware and
didn´t require ASICs), but the important features still work flawlessly:

-the 21M supply hard cap is still set in stone
-the block reward decreases according to the predefined schedule
-the brightest minds in the cryptocurrency scene are working on Bitcoin and Bitcoin-related services
-the developers prioritize security over everything else
...

Aren't fast transaction times and cheap fees one of these important features too? Apparently that area of importance seems to have declined and more and more users of bitcoin are utterly annoyed of how fast/slow things are processed and how expensive a transaction within the bitcoin network can be. Oh well I can only complain since I myself am experiencing troubles whenever I transact using my bitcoins.

Quote from: hugeblack on January 03, 2018, 05:28:09 AM

-Peter Thiel's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.
-Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report says.
-Bitcoin rises more than 11 percent to trade near $14,711, according to Coinbase.[1]

Do you think this investor will affect price?

Nah. There are millions pouring into bitcoin every single day, and also millions being traded to fiat but not really inflicting serious dents on the whole scene. This investment wouldn't make a significant loss/gain but would generate some form of hype that traders might take advantage of.

Samarkand

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Quote from: TERA2 on January 03, 2018, 07:18:26 AM

... Bitcoin hasnt changed. Actually its kind of gotten worse.

The important properties of Bitcoin are still the same. I concede that a few things
were better at the beginning (e.g. mining was possible on consumer hardware and
didn´t require ASICs), but the important features still work flawlessly:

-the 21M supply hard cap is still set in stone
-the block reward decreases according to the predefined schedule
-the brightest minds in the cryptocurrency scene are working on Bitcoin and Bitcoin-related services
-the developers prioritize security over everything else
...

BrewMaster

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There is trouble abrewing

Quote from: hugeblack on January 03, 2018, 05:28:09 AM

Do you think this investor will affect price?

yes but not that big.

first of all i do believe that there are a lot more people like Peter Thiel who have been investing in bitcoin for a very long time. including big players like Warren Buffett.

and the way news like this is going to affect the price is that it simply shows people that the way bitcoin has always been advertised in the media (in a negative light) has always been bullshit and they missed out on bitcoin because they fell for it!

BitHodler

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This dude invested big time before the rise to where we stand today, so it's already played out. I add more value to how institutions will start to affect the market in current days, because that's far more important.

He act like he is one of a kind, but there are far more of these entities who managed to bank on Bitcoin big time due to their massive initial investment, but they keep it to themselves.

The only positive thing that I see is how a high level entity invested in something that certain wall street banksters consider to be a fraud. I am sure there are many more, but they prefer to remain silent, which is pretty understandable.

cybersofts

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Quote from: AT101ET on January 03, 2018, 07:51:48 AM

Quote from: nidacoinlove on January 03, 2018, 06:22:42 AM

Quote from: AT101ET on January 03, 2018, 05:37:38 AM

Probably not.
He invested between $15-$20m in mid 2017.
With the price increase their holdings have increased drastically. If they were to cash out a significant amount then it would affect the price leaving the rest of their coins worth less.
The same goes with anyone holding large reserves looking to cash out. They sell small walls so they don't affect the price allowing the market to set the price and selling their coins in batches at the otherwise higher rates.

I guess 15 to 20 million dollar is not such a huge amount at the moment to affect bitcoin anyhow for a long-term. It may affect the price for a little while but where BTC stands with more than 200 Billion dollar market cap in which the said amount makes a share of less than 1%. Also we can term it as a pilot project investment by Peter Thiel's founder. Could be just a trial based to check whether to keep it in future or not.

It’s not $15-$20m anymore.
It’s probably in the early 100s of millions.

That was what i'm thing too, how can only $15-$20 million boost bitcoin price adding up to 13.8% increase in value yesterday? there is no way only $20 million will boost bitcoin price to such level. Perhaps, Mr. Thiel's investment into bitcoin attracted many other investors to bitcoin.

AT101ET

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Quote from: nidacoinlove on January 03, 2018, 06:22:42 AM

Quote from: AT101ET on January 03, 2018, 05:37:38 AM

Probably not.
He invested between $15-$20m in mid 2017.
With the price increase their holdings have increased drastically. If they were to cash out a significant amount then it would affect the price leaving the rest of their coins worth less.
The same goes with anyone holding large reserves looking to cash out. They sell small walls so they don't affect the price allowing the market to set the price and selling their coins in batches at the otherwise higher rates.

I guess 15 to 20 million dollar is not such a huge amount at the moment to affect bitcoin anyhow for a long-term. It may affect the price for a little while but where BTC stands with more than 200 Billion dollar market cap in which the said amount makes a share of less than 1%. Also we can term it as a pilot project investment by Peter Thiel's founder. Could be just a trial based to check whether to keep it in future or not.

It’s not $15-$20m anymore.
It’s probably in the early 100s of millions.

btcmerich

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Big buyers/Sellers have OTC option so they will not make market crash when they sell.

TERA2

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Deb Rah Von Doom

It just shows how stupid these 'silicon valley' people are. They are supposed to be on top of tech trends and they of all people should have already bought in 2013 or earlier. Where were all these 'investors' back then? Why are people only convinced by huge rallies and only want to make purchases using hundreds of millions. Does dropping all that cash make them feel big and important? They could have gotten it all for $1K if they truly believed. They knew about bitcoin. All the same information was available. Bitcoin hasnt changed. Actually its kind of gotten worse.

Topic: Peter Thiel & Bitcoin (Read 377 times)