They want to buy 5000 BTC for 350$ each!

ensurance982

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Quote from: chopstick on April 29, 2015, 07:50:23 PM

I will gladly sell all my coins for 350. Then I could buy back in and still have 10k left over in profit.

How do I get in touch with these people?

Well, they want to buy the shares of the ETF. They want the ease of using an ETF as an investment vehicle, and want all the protection that accompanies using an ETF. So you need to have GBTC shares you held for at least a year, and you can ask for them to be prepared to be sold to those people

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I will gladly sell all my coins for 350. Then I could buy back in and still have 10k left over in profit.

How do I get in touch with these people?

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Quote from: gentlemand on April 29, 2015, 06:11:33 PM

Quote from: tampazeus on April 29, 2015, 06:05:10 PM

yeahhh.. fuck them bastards... but on the reals. btc is dying.

Ain't no doubt it's lost its sparkle compared to periods in the past. There are also things in the works that would have seemed utterly ludicrous if you'd suggested they might happen 3 years ago.

I myself am giving it five years before figuring out whether it's truly going places or not. Something as complex and tainted does not get welcomed with open arms overnight.

I guess that's a very reasonable thing to do. Right now we're still in "freak mode" and most of the times you don't even known when you're in the middle of a revolution. We could be on the brink of BTC going to a couple USD, or new ATHs no one has even dared to dream of - and everything in between.

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Quote from: gentlemand on April 29, 2015, 06:11:33 PM

Quote from: tampazeus on April 29, 2015, 06:05:10 PM

yeahhh.. fuck them bastards... but on the reals. btc is dying.

Ain't no doubt it's lost its sparkle compared to periods in the past. There are also things in the works that would have seemed utterly ludicrous if you'd suggested they might happen 3 years ago.

I myself am giving it five years before figuring out whether it's truly going places or not. Something as complex and tainted does not get welcomed with open arms overnight.

Shhhh.. we all know its going places in life.. it just for the sheeple. We wnt them to sell and come to despair so it can moon again in 5 or 10 years

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Quote from: tampazeus on April 29, 2015, 06:05:10 PM

yeahhh.. fuck them bastards... but on the reals. btc is dying.

Ain't no doubt it's lost its sparkle compared to periods in the past. There are also things in the works that would have seemed utterly ludicrous if you'd suggested they might happen 3 years ago.

I myself am giving it five years before figuring out whether it's truly going places or not. Something as complex and tainted does not get welcomed with open arms overnight.

tampazeus

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Quote from: gentlemand on April 29, 2015, 05:48:44 PM

Quote from: tampazeus on April 29, 2015, 05:44:49 PM

Those guys are suckers. BTC is dying and anyone with a pair of eyes can see that.

Er, are all these professional financial instruments that every other market on the planet has, and BTC never has had so far, that are on the verge of fruition responsible for this? Bastards...

yeahhh.. fuck them bastards... but on the reals. btc is dying.

gentlemand

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Quote from: tampazeus on April 29, 2015, 05:44:49 PM

Those guys are suckers. BTC is dying and anyone with a pair of eyes can see that.

Er, are all these professional financial instruments that every other market on the planet has, and BTC never has had so far, that are on the verge of fruition responsible for this? Bastards...

tampazeus

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Those guys are suckers. BTC is dying and anyone with a pair of eyes can see that.

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Quote from: phoenix1 on April 29, 2015, 08:31:06 AM

AAAAANNNND it's gone !!

Whuda thunk it Roll Eyes

Oh, and just to be super-safe Maxim lowered their new bid to $30 for 100 shares ...

/thread

EDIT : AAAAANNNND it's back !! Cheesy

Haha, that just reminded me to go watch that south park moment again.

But, I think most of the whales been just testing with our heads though with prices. See what are willing to buy at, someone should ask these questions with a actual whale. I`m sure the whale would agree though that some of them are doing this.

mrhelpful

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You cant blame a whale for trying though right.

Its a form of capitalism on how they see fit, either its a morale thing or not. If its fake buy order, esp if I`m holding onto more then a certain amount of coins, I`d be wanting easy sell off to buy something in cash.

Cause that cash can go into real estate or something they feel got for free by doing a small easy price manipulation.

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Quote from: btcfaucet.us on April 28, 2015, 10:23:44 PM

fake bid

Most likely, but i've seen big walls that seemed fake being eaten at ridiculous speeds. for some people 5000 BTC is spare cash and those millonaires want BTC at a higher price and will do anything it takes to make the price go up again.

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AAAAANNNND it's gone !!

Whuda thunk it Roll Eyes

Oh, and just to be super-safe Maxim lowered their new bid to $30 for 100 shares ...

/thread

EDIT : AAAAANNNND it's back !! Cheesy

yayayo

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You have to keep in mind that a bid is not a transaction. Especially not on the OTC market. The OTC is a wild west of market makers, making fake bids that can be pulled out of the market even after an order has been placed that would fill them.

I think we have to wait for an actual transaction. Of course it's possible that some premium over fair market value is paid as a "regulation/convenience bonus".

ya.ya.yo!

ensurance982

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Quote from: gentlemand on April 29, 2015, 08:17:19 AM

Quote from: LFC_Bitcoin on April 29, 2015, 08:14:28 AM

When are these cock teasers going to get things under way?

The sellers had to wait 12 months to be able to sell. If I were one of them I'd be inclined to sit around and wait for some extremely generous offers in return for my patience.

Yeah, and those offers look rather tasty to me. I think they will be below the price people bought their initial shares, though, so it may be interesting to see if people actually decide to sell their shares. But I would be surprised if not a single share traded hands, though. (It's also interesting to see the lack of low bids)

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Quote from: LFC_Bitcoin on April 29, 2015, 08:14:28 AM

When are these cock teasers going to get things under way?

The sellers had to wait 12 months to be able to sell. If I were one of them I'd be inclined to sit around and wait for some extremely generous offers in return for my patience.

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When are these cock teasers going to get things under way?

ensurance982

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Quote from: Elwar on April 29, 2015, 05:32:37 AM

Quote from: gentlemand on April 29, 2015, 05:29:28 AM

Quote from: Bitcoiner2015 on April 29, 2015, 05:22:07 AM

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Because it's a market that exists in its own little world. There's no parallel with the exchanges.

The shares that are for sale on there have been frozen for 12 months for some type of regulatory reason.

The people bidding on there are either too sensible, or not permitted to buy from any of the exchanges none of which are regulated or offer any protection or backup.

Finance professionals are not going to wire money to some Chinese person's personal bank account and hope the exchange doesn't go up in smoke before they get some coins.

There are also large institutions in play that cannot invest outside of that little world. This is their window into the Bitcoin world.

I agree, that the mere fact that this thing is being traded on "regular" exchanges is a big thing whose importance most of us people around here won't even recognize. Although we should keep in mind that their "little world" isn't so little, after all. If anything, our Bitcoin world is little compared to theirs. Tiny, even.

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Quote from: gentlemand on April 29, 2015, 05:29:28 AM

Quote from: Bitcoiner2015 on April 29, 2015, 05:22:07 AM

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Because it's a market that exists in its own little world. There's no parallel with the exchanges.

The shares that are for sale on there have been frozen for 12 months for some type of regulatory reason.

The people bidding on there are either too sensible, or not permitted to buy from any of the exchanges none of which are regulated or offer any protection or backup.

Finance professionals are not going to wire money to some Chinese person's personal bank account and hope the exchange doesn't go up in smoke before they get some coins.

There are also large institutions in play that cannot invest outside of that little world. This is their window into the Bitcoin world.

gentlemand

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Quote from: Bitcoiner2015 on April 29, 2015, 05:22:07 AM

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Because it's a market that exists in its own little world. There's no parallel with the exchanges.

The shares that are for sale on there have been frozen for 12 months for some type of regulatory reason.

The people bidding on there are either too sensible, or not permitted to buy from any of the exchanges none of which are regulated or offer any protection or backup.

Finance professionals are not going to wire money to some Chinese person's personal bank account and hope the exchange doesn't go up in smoke before they get some coins.

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Quote from: WiiD on April 28, 2015, 11:02:47 AM

If that is'nt bullish, I don't know what it need else.

I don't get it, why would they offer 50% more than market value? and why wouldn't the market react to it?

Elwar

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Does GBTC make it possible to convert your 401k to bitcoins?

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Quote from: WhatTheGox on April 29, 2015, 03:31:15 AM

Quote from: WiiD on April 28, 2015, 11:02:47 AM

If that is'nt bullish, I don't know what it need else.

Im looking at it live at the site now, maybe this is whats helping the market recently. Is kinda confusing that people are willing to pay so much to not deal with other exchanges.

What did you expect? Exchanges can close down tomorrow...
I expect first few trades will be above 40$ per share.

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Quote from: WiiD on April 28, 2015, 11:02:47 AM

If that is'nt bullish, I don't know what it need else.

Im looking at it live at the site now, maybe this is whats helping the market recently. Is kinda confusing that people are willing to pay so much to not deal with other exchanges.

bounst

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market depth too shallow? or that is a limit order with fake?

btcfaucet.us

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fake bid

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Quote from: jaberwock on April 28, 2015, 07:26:51 PM

Quote from: ?? on ??

Quote from: darkangel11 on April 28, 2015, 01:54:15 PM

Maybe they were the ones buying on Btc-e yesterday. Lips sealed

I doubt it.

Maybe the big buys from yesterday were from people that are hoping to sell for them or other big buyers for a big premium?

The people placing the bids for GBTC want to buy shares of the ETF. If you buy coins on BTC-e, Bitfinex, Bitstamp, wherever, you can't just "transfer" them to the ETF, it doesn't work that way. The only thing that would make sense is if those people buying on BTC-e were sure that the price will skyrocket once the trading commences, in order to sell again on BTC-e, or wherever.

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Quote from: ?? on ??

Quote from: darkangel11 on April 28, 2015, 01:54:15 PM

Maybe they were the ones buying on Btc-e yesterday. Lips sealed

I doubt it.

Maybe the big buys from yesterday were from people that are hoping to sell for them or other big buyers for a big premium?

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This is really puzzling. So either those bids aren't real and only placeholders of some sort, which get pulled before the trading starts, or there's really an incredible demand for those shares. I'd actually do get it if there was some decent buying pressure due to this being an actual ETF and not some unregulated exchange, but that markup of 60-70% really is mezmerizing!

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Quote from: WiiD on April 28, 2015, 11:10:23 AM

Quote from: Morecoin Freeman on April 28, 2015, 11:09:09 AM

Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.

I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing.

Bitfinex is not the only exchange with big liquidity, other exchanges like OKcoin have VIP accounts with smaller fees and secure fund handling.

Quote

Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. It enables investors to gain exposure to the price movement of bitcoin without the challenge of buying, storing, and safekeeping bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.

Each BIT share represented ownership of 0.1 bitcoins initially. The trust will not generate any income and regularly sells/distributes bitcoins to pay for its ongoing expenses. Therefore, the amount of bitcoin represented by each share gradually declines over time.

http://www.otcmarkets.com/stock/GBTC/profile

That actually sounds like a really inconvenient way to invest in the price of bitcoin and it probably targets investors that are naive to the technology itself.

darkangel11

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Maybe they were the ones buying on Btc-e yesterday. Lips sealed

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Quote from: phoenix1 on April 28, 2015, 11:52:20 AM

If it's genuine, sure, it's bullish

After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment.
Could both events be linked? And both an attempt to trigger a short squeeze without spending too much money?
Too cynical? Or just wary?!

Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!

If it's a co-ordinated pump there is certainly serious intent behind it.

Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!

Literally the only thing bears have going for them is the 'line on a chart points down'. If 160 was the bottom then there will be some very surprised shorters in the next few weeks

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Quote from: phoenix1 on April 28, 2015, 11:52:20 AM

If it's genuine, sure, it's bullish

After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment.
Could both events be linked? And both an attempt to trigger a short squeeze?
Too cynical? Or just wary?!

Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!

If it's a co-ordinated pump there is certainly serious intent behind it.

Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!

my read is the owners of bitcoin associated with GBTC are buying bitcoin on exchanges for $215-226 while preparing to dispose of it on OTC. As a result, they will have the same # of bitcoins and lock in a tax loss. Since bitcoin and GBTC are technically different entities, wash sale rule is probably not applicable. From a point of view of brokers-I have no idea what compels them to bid at a 36% premium.

phoenix1

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If it's genuine, sure, it's bullish

After yesterday's events on BTC-e I can honestly say I have no idea what is genuine or not at the moment.
Could both events be linked? And both an attempt to trigger a short squeeze without spending too much money?
Too cynical? Or just wary?!

Either way, about the only things the bears have in their favour at the moment is that the squeeze has not triggered ... yet. If it does ... BOOM !!

If it's a co-ordinated pump there is certainly serious intent behind it.

Interesting coincidence that the buying was on the most illiquid platform, seemingly designed for maximum impact/uncertainty, and this bid is in what will likely be an illiquid instrument, that is *possibly* not tradeable at the moment ... hmmmm ... Bitcoin!!

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Quote from: WiiD on April 28, 2015, 11:10:23 AM

Quote from: Morecoin Freeman on April 28, 2015, 11:09:09 AM

Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.

I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing.

These guys want the paper Bitcoin derivitave which is what GBTC is. They want to make money by being liquidity providers of this paper by selling it to their existing customers and any new investors who desire safe (ie regulated) Bitcoin price exposure in their investment portfolios. But they need to buy it first which is what we are seeing here.

Morecoin Freeman

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Quote from: WiiD on April 28, 2015, 11:10:23 AM

Quote from: Morecoin Freeman on April 28, 2015, 11:09:09 AM

Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.

I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing.

Yea I think so too. Still that is a lot of money just for security and convenience.

Anyone know when this trading will go live?

Biodom

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Come on, all these bids are simply faking by brokers. They do it all the time. Try to hit a large bid on nasdaq and it disappears after giving you 100 shares.

gentlemand

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Quote from: Morecoin Freeman on April 28, 2015, 11:09:09 AM

Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.

A fair few are probably compleletey prohibited from buying on such a sketchy and shaky platform. It looks kinda fancy on the surface but it could vapourise at any second taking everything with it.

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Quote from: Morecoin Freeman on April 28, 2015, 11:09:09 AM

Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.

I guess, they are big investors and they don't trust Bitfinex with such large amounts after the Mt.Gox-thing.

Morecoin Freeman

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Fair deal. Only thing I do not understand is why they don't buy on bitfinex. There are 5000 btc offered between $220 and $240.

WiiD

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If that is'nt bullish, I don't know what it need else.

Topic: They want to buy 5000 BTC for 350$ each! (Read 2825 times)