Topic: The Avalon dump (Read 1091 times)
I recall them saying that bitcoin was the only way they'd be able to get all their money distributed the way it needed to be in a timely fashion for parts and everything, but I can't imagine that every part of their supply chain accepts bitcoin. Even if it did, at some point in the chain, THOSE people will be cashing out to pay for things, so it doesn't directly matter what Avalon does with them.
I can as easily have been someone else taking advantage of the preorder peak!
Can you guys keep on buying? I need the price of BTC to reach 20ish to purchase an Avalon. I've only put 80 BTC aside for this, accounting a small dip.. but not this huge of a dip!
Most people thought there would be a massive dump after Avalon starts getting BTC. However, I think the dump has already done before the pre-order starts
I think this is exactly why we have a dump here:
1. Avalon team bought a lot of BTC @$13-18
2. They announce their BTC-only batch #2, price raised to $21
3. They postpone the pre-order to Saturday to let more people to buy BTC, and they sell part of their holding, price dropped to $20 (Profit!)
4. They dump 20k BTC trying to crash the price. (Edit: they bought below $18 so the dump stopped exactly at $18, profit once again!!) Not very successful, but still make the spot price <$19.5. Lack of USD funding in weekend restricts the rebound
5. Pre-order starts. Due to a lowered spot price, they will receive more BTC for their USD-priced machine (Profit twice again!!!)
So they have earned a lot USD in step 3 and 4, and get all of the BTC back (or even more than that) in step 5 later. The USD profit alone is enough for them to buy parts for #2 Avalon, so you won't see the anticipated post-sale massive dump. A small dump is possible if some in the team do not appreciate bitcoin.
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