Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27028.

aminorex

legendary

Activity: 1596

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Sine secretum non libertas

Quote from: kireinaha on June 25, 2014, 01:31:34 PM

It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

If you were ever going to pay above market for btc, now would be the time to do it. Some time 5-10 days from now, BTC will put in its lowest daily bottom, and prices will always be higher thereafter. (Says the monkey, but I will take responsibility this time, because I agree -- and yes, perhaps it is magical thinking. He is, after all, a magic monkey.)

kireinaha

sr. member

Activity: 350

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Quote from: Ivanhoe on June 25, 2014, 11:32:07 AM

Quote from: kireinaha on June 25, 2014, 11:18:21 AM

Nobody with enough money to buy a block of 3,000 coins is going to bid over the top of the current value on major exchanges. The bitcoin market has been so anemic for months now that all we're going to see are a few low ball offers, and whoever wins will take the lot for a very nice discount. Face it guys, we all want to see a rally, and it will likely happen eventually, but smart money isn't going to dive in on something that is so uncertain in the near term.

Of course they are going to bid above market price.
1) You can't see what the others bid, so you have to make your bid count.
2) Do you think the names we saw on the leaked list or going to register on sites like Bitstamp? No these people buy off exchange.
3) Even if they would buy on Bitstamp buying 3 000 BTC would cost them 1.8 million dollar and this would push the price to 596 and leaving a serious gap behind them in the bid side on the order book. If they would bid at 580 this will cost them only 3000 x 580 = 1.74 million dollar.

magical thinking, my friend. An investor with deep pockets would have no qualms with creating an account on bitstamp or elsewhere... any means necessary to get their coins. The smart thing to do -- and rich people tend to be smart -- would be to buy them in small, spread out orders or just buy them in bulk from someone off exchange. It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

Adrian-x

legendary

Activity: 1372

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Quote from: N12 on June 25, 2014, 01:07:52 PM

Quote from: oda.krell on June 25, 2014, 01:06:41 PM

Woah... Since when are you a hero member, Eurotrash?

You'll get there. Cheesy

if I recall it’s a moving goal post, I expect to be downgraded after the next bubble.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: JorgeStolfi on June 25, 2014, 01:10:40 PM

Quote from: Ivanhoe on June 25, 2014, 12:06:20 PM

Thanks for cutting my post into half, don't do that again. I guess you agree with point 2 and 3. [ ... ]

It is good etiquette to trim the posts you are replying to, leaving only the parts that are relevant to the reply. However I should have added "[ ... ]" to show that parts were omitted; my apologies for being lazy.

Yes Jorge!, until you join the cult we hold you to a different standard, Cheesy

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: Ivanhoe on June 25, 2014, 12:06:20 PM

Thanks for cutting my post into half, don't do that again. I guess you agree with point 2 and 3. [ ... ]

It is good etiquette to trim the posts you are replying to, leaving only the parts that are relevant to the reply. However I should have added "[ ... ]" to show that parts were omitted; my apologies for being lazy.

N12

donator

Activity: 1610

Merit: 1010

Quote from: oda.krell on June 25, 2014, 01:06:41 PM

Woah... Since when are you a hero member, Eurotrash?

You'll get there. Cheesy

oda.krell

legendary

Activity: 1470

Merit: 1007

Woah... Since when are you a hero member, Eurotrash?

EDIT: I think there's a rule... no more meme pics, as a hero. Only serious analysis, presented in a stately manner Cheesy

EuroTrash

hero member

Activity: 728

Merit: 500

lol

magicmexican

hero member

Activity: 812

Merit: 1000

All exchanges are pretty close, sign of anything?

ChartBuddy

legendary

Activity: 2380

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: jl2012 on June 25, 2014, 11:31:57 AM

Quote from: oda.krell on June 25, 2014, 11:28:34 AM

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

Quote

We received your bid request. As your bid request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitcoin. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your bid.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of buying Bitcoins?
3. When and how did you obtain your USD?
4. What is the reason for your activity - depositing BTC, selling, withdrawing?
5. What are your future plans and activities planned during your life?
6. Do you plan more of such bids in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

This is FAKE

Source:

Quote

We received your withdrawal request. As your withdrawal request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitstamp. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your transfer.

We kindly ask you to answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. The purpose of trading on Bitstamp?
3. What is the origin of the deposited Bitcoins? If mining, please specify your hardware specifications and submit a receipt or an invoice for your mining equipment.
4. When and how did you obtain your Bitcoins?
5. What is the reason for your activity - depositing BTC, selling, withdrawing?
6. What are your future plans and activities planned on our exchange?
7. Do you plan more of such withdrawals in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.

We kindly ask you to submit your answers and documents in a reply to this ticket.

Parazyd

hero member

Activity: 812

Merit: 587

Space Lord

Quote from: Hawkix on June 25, 2014, 12:27:12 PM

I suppose they will email private keys to all winning bidders. In single Cc: email.

Have the Bitcoins been split to 3k per address already?

Hawkix

hero member

Activity: 531

Merit: 505

I suppose they will email private keys to all winning bidders. In single Cc: email.

derpinheimer

legendary

Activity: 896

Merit: 1000

Quote from: ShroomsKit on June 25, 2014, 12:14:27 PM

Quote from: FUD! on June 25, 2014, 11:59:39 AM

If you thought the price is fallin because of the auction, then you are dead wrong, that was just my little adopted brother tryin to fool you!
MY OWN real work happened behind the scenes and will be released SOON with drastic effects!

Troll fail.

I think thats the goal (I hope, at least)

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: FUD! on June 25, 2014, 11:59:39 AM

If you thought the price is fallin because of the auction, then you are dead wrong, that was just my little adopted brother tryin to fool you!
MY OWN real work happened behind the scenes and will be released SOON with drastic effects!

Troll fail.

empowering

legendary

Activity: 1078

Merit: 1441

Ivanhoe

hero member

Activity: 841

Merit: 1000

Quote from: JorgeStolfi on June 25, 2014, 11:51:50 AM

Quote from: Ivanhoe on June 25, 2014, 11:32:07 AM

Of course they are going to bid above market price.
1) You can't see what the others bid, so you have to make your bid count.

That would be true if their goal was "I MUST GET THOSE COINS". But the goal of people who play that game is "I MUST PROFIT". They figure out what is the price that would give them the best expected profit, and bid for that. If someone else bids higher, they would think "what a fool".

Thanks for cutting my post into half, don't do that again. I guess you agree with point 2 and 3. Your argument against point 1 is weak since i think their mindset is indeed 'i must get those coins'.

N12

donator

Activity: 1610

Merit: 1010

Quote from: FUD! on June 25, 2014, 11:59:39 AM

If you thought the price is fallin because of the auction, then you are dead wrong, that was just my little adopted brother tryin to fool you!
MY OWN real work happened behind the scenes and will be released SOON with drastic effects!

How many more accounts, fonzie?

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

FUD!

newbie

Activity: 3

Merit: 0

If you thought the price is fallin because of the auction, then you are dead wrong, that was just my little adopted brother tryin to fool you!
MY OWN real work happened behind the scenes and will be released SOON with drastic effects!

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