Richest dude in Asia, going hard on Bitcoin - page 3.

Dalmar

hero member

Activity: 1106

Merit: 500

Life is short, practice empathy in your life

Quote from: franky1 on May 14, 2014, 12:36:30 PM

by investing into bitpay. you will see that instead of bitpay selling their coins on an exchange. they will use the investors fiat and give the investor bitcoin

thus you wont see as much sell orders on the exchanges, which will a rise in pirce, but a slower rise whilst merchants small tx's are processed, compared to a whale biting on the sale orders in under 5 minutes.

Whatever happens outside of exchanges affects the exchange rate, just only slightly delayed.

It does not change supply and demand dynamics.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: OROBTC on May 14, 2014, 05:30:35 PM

...

Li Ka-Shing did not get so rich by being a dummy. It is worthwhile to watch what the extremely rich do (as opposed to what they say). I believe Li Ka-Shing is diversfying out of China and Hong Kong. A big BTC position might be very smart.

* * *

Another great example was Warren Buffett buying the BSNF railroad a couple of years ago or so. He called it "a bet on America", but, Jim Rickards characterized it better as a hard asset. A hard asset that transports other hard assets... Buffett is not stupid either.

Bitcoin, in a sense, is a hard asset as well.

i don't know what to think when someone says something like that anymore.. billionaires tend to be smart, but i've seen some really dumb ones who are ignorant (see Donald Sterling). then again, i don't know much about Li Ka-Shing and how he got his money.

it's kind of funny because Ka-Shing is how a cash register sounds.

Bibop

full member

Activity: 222

Merit: 100

So how big change like this could effect us, the little Bitcoiners?

E-C.Guru

newbie

Activity: 42

Merit: 0

Every time I read his name I become more and more certain that he's as real a person as Satoshi Nakamoto.

RockHound

full member

Activity: 224

Merit: 100

Quote from: OROBTC on May 14, 2014, 05:30:35 PM

...

Li Ka-Shing did not get so rich by being a dummy. It is worthwhile to watch what the extremely rich do (as opposed to what they say). I believe Li Ka-Shing is diversfying out of China and Hong Kong. A big BTC position might be very smart.

* * *

Another great example was Warren Buffett buying the BSNF railroad a couple of years ago or so. He called it "a bet on America", but, Jim Rickards characterized it better as a hard asset. A hard asset that transports other hard assets... Buffett is not stupid either.

Bitcoin, in a sense, is a hard asset as well.

+1 very wise

I can remember the controversy during the Berkshire Hathaway/BSNF acquisition. Interesting point about controlling asset logistics!

I hope Li Ka-Shing and his financial advisers are considering implementing Bitcoin in exchange of services/goods for his multinational commercial enterprises.

RockHound

full member

Activity: 224

Merit: 100

Quote from: Bibop on May 14, 2014, 05:14:49 PM

So he didn't buy at last?

someone knows about similar events that some rich guy invest big amount on BTC? and if so what was the influence on the value?

Apparently, Li Ka-shing has been in the Bitcoin game at least since December 2013. I personally reckon he's bought more since then, considering BTC's current price and the fact a sum of say $50,000,000 is nothing to him.

Wouldn't surprise me if he ends up donating 75% of his BTC profits to charity. The guy is immensely wealthy irrespective of Bitcoin.

In an article by South China Morning Post, the economist makes an interesting investment statement, which makes sense. However, not available to the average Joe:

"Investors looking for a way to make money from the global bitcoin bonanza should steer clear of the pseudo currency itself and instead follow Li Ka-shing's lead: buy in to the firms providing the services that bitcoin holders use.

That's according to John Greenwood, the London-based chief economist of Invesco who designed Hong Kong's pegged currency regime.

"Just like investors in days gone by made more money out of selling shovels and picks to gold-diggers than anyone ever made out of the gold mine, he is investing in the peripheral activity that bitcoin has generated," Greenwood said."

OROBTC

legendary

Activity: 2940

Merit: 1865

...

Li Ka-Shing did not get so rich by being a dummy. It is worthwhile to watch what the extremely rich do (as opposed to what they say). I believe Li Ka-Shing is diversfying out of China and Hong Kong. A big BTC position might be very smart.

* * *

Another great example was Warren Buffett buying the BSNF railroad a couple of years ago or so. He called it "a bet on America", but, Jim Rickards characterized it better as a hard asset. A hard asset that transports other hard assets... Buffett is not stupid either.

Bitcoin, in a sense, is a hard asset as well.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: ruffled_up on May 14, 2014, 01:04:29 PM

The us government could definately cripple the bitcoin price if they were to flood the market with all the siezed coins they have

been mentioned before, and i think they could auction off the coins and it wouldn't affect the price that much.

Bibop

full member

Activity: 222

Merit: 100

So he didn't buy at last?

someone knows about similar events that some rich guy invest big amount on BTC? and if so what was the influence on the value?

RockHound

full member

Activity: 224

Merit: 100

Quote from: Kashim on May 14, 2014, 04:07:48 PM

hardcore lol

Agreed

This guy lives on the same planet, but different world

indiemax

hero member

Activity: 722

Merit: 500

Quote from: ruffled_up on May 14, 2014, 01:04:29 PM

The us government could definately cripple the bitcoin price if they were to flood the market with all the siezed coins they have

ain't gonna happen

Kashim

sr. member

Activity: 300

Merit: 250

hardcore lol

farlack

legendary

Activity: 1310

Merit: 1000

Quote from: E-C.Guru on May 14, 2014, 11:05:45 AM

Quote from: RockHound on May 14, 2014, 09:59:44 AM

$500,000,000 worth, that's 1,126,000 BTC Cool

Not really. Perhaps if you're the only big player going into bitcoin and you have 1-12 month time to buy. Otherwise the first 50 millions would drive the price to the moon. If you were in a hurry, at least.

He could also slowly buy bitcoin, get a contract for the main players like bitpay, and coinbase to buy sold coins, such as if someone were to sell a product instead of bitpay selling those coins on an exchange, sell to this guy. I have also seen many threads selling high amount of coin, cash only. One was for 400k in coin alone. Cant remember the amount of coin like 10k maybe.

RockHound

full member

Activity: 224

Merit: 100

Quote from: Ron~Popeil on May 14, 2014, 12:49:35 PM

Quote from: RockHound on May 14, 2014, 12:35:26 PM

Quote from: Ron~Popeil on May 14, 2014, 12:11:22 PM

Quote from: RockHound on May 14, 2014, 11:48:32 AM

Quote from: Alley on May 14, 2014, 11:36:35 AM

So he didn't actually buy bitcoins just invested in bitpay...

I would find it hard to believe, that he doesn't have at least 1BTC. The other BitPay investors also probably hold personal BTC. And by that rationale, being the biggest dawg in Asia, reckons he's got a few BTC Cheesy

He is a bitcoin holder. He donates to Seans Outpost quite frequently. His support of bitcoin is a great thing for the crypto ecosystem.

Cheers for the info Ron, Jason King does noble work for sure.

Here's a lengthy but cool interview he did last week:

http://www.youtube.com/watch?v=JI7ZtX43bEY

Agreed, Sir Li Ka-shing on board, is great for crypto ecosystem. Would like to see him integrate into his many businesses though.

Yeah, I am a huge fan of Sean's Outpost. My meager donations probably don't make much of a dent but a lot of small donations is as good as 1 large one.

Good man, made a donation last year to Megan and Davi's BitcoinNotBombs. Will start sending some funds over to Jason's charity. Every little helps, all adds up Cool

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: ruffled_up on May 14, 2014, 01:04:29 PM

The us government could definately cripple the bitcoin price if they were to flood the market with all the siezed coins they have

Yes they could. It would be a great opportunity to grab some more before things normalize again. The urge to panic when the market sneezes is part of the reason for the volatility we have seen.

RockHound

full member

Activity: 224

Merit: 100

Quote from: franky1 on May 14, 2014, 12:36:30 PM

by investing into bitpay. you will see that instead of bitpay selling their coins on an exchange. they will use the investors fiat and give the investor bitcoin

thus you wont see as much sell orders on the exchanges, which will a rise in pirce, but a slower rise whilst merchants small tx's are processed, compared to a whale biting on the sale orders in under 5 minutes.

Interesting point Frank, that would be the way to go.

Several Bitcoiners on here reckon if he did execute a massive buy order on an exchange, that the Bitcoin price index would rise?

This is hypothetically logical, but would it be sustainable?

Hard to say what will promote Bitcoins next surge past $1000 barrier. Personally I think it will be some kind of new innovation/service that the Bitcoin protocol facilitates - A real Game Changer for Bitcoin (don't think this has been invented yet).

Some folks are optimistic that Winklevoss EFT and Wall Street will be this Game Changer, maybe? But I think it'll be something else, not currently conceived/implemented.

On that note, what do you think about the Coinprism & Colouring Bitcoin's concept?

ruffled_up

newbie

Activity: 2

Merit: 0

The us government could definately cripple the bitcoin price if they were to flood the market with all the siezed coins they have

jbrnt

hero member

Activity: 672

Merit: 500

He, among other investors, invested in bitpay. He is not buying bitcoin directly. It is a confidence boost in bitcoin, but do not expect bitcoin price to soar because of this.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: RockHound on May 14, 2014, 12:35:26 PM

Quote from: Ron~Popeil on May 14, 2014, 12:11:22 PM

Quote from: RockHound on May 14, 2014, 11:48:32 AM

Quote from: Alley on May 14, 2014, 11:36:35 AM

So he didn't actually buy bitcoins just invested in bitpay...

I would find it hard to believe, that he doesn't have at least 1BTC. The other BitPay investors also probably hold personal BTC. And by that rationale, being the biggest dawg in Asia, reckons he's got a few BTC Cheesy

He is a bitcoin holder. He donates to Seans Outpost quite frequently. His support of bitcoin is a great thing for the crypto ecosystem.

Cheers for the info Ron, Jason King does noble work for sure.

Here's a lengthy but cool interview he did last week:

http://www.youtube.com/watch?v=JI7ZtX43bEY

Agreed, Sir Li Ka-shing on board, is great for crypto ecosystem. Would like to see him integrate into his many businesses though.

Yeah, I am a huge fan of Sean's Outpost. My meager donations probably don't make much of a dent but a lot of small donations is as good as 1 large one.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: RockHound on May 14, 2014, 11:50:25 AM

Quote from: E-C.Guru on May 14, 2014, 11:05:45 AM

Quote from: RockHound on May 14, 2014, 09:59:44 AM

$500,000,000 worth, that's 1,126,000 BTC Cool

Not really. Perhaps if you're the only big player going into bitcoin and you have 1-12 month time to buy. Otherwise the first 50 millions would drive the price to the moon. If you were in a hurry, at least.

True, that'll be one hell of a Wall on his exchange Grin

i would try it on local bitcoins Tongue

Topic: Richest dude in Asia, going hard on Bitcoin - page 3. (Read 3764 times)