Topic: xpost from Press: Joe Lewis plans to invest $200M into Avalon (hoax) (Read 2769 times)

maybe not ?

Quote

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

Quote from: vokain on August 05, 2013, 12:06:15 PM

Literally, the next sentence "The risk is now too high for us to credit accounts prematurely."

Your reading skills = terrible.

more explication for you since you dont get it, the usd automatic credit on mtgox got stopped on june nobody knows how much the loss for mtgox was and if they manage to cover that from fees
1) send wire
2) get the fiat credited
3) buy bitcoin
4) take bitcoin out
5) wire denied
6) ops mtgox got a loss
7) wee free bitcoin
8 ) some one has the usd but this never got wired
9 ) the someone use said USD to place a bid

humanitee

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he isn't a native English speaker. but still

If they are adequate enough to comprehend that paragraph surely they are adequate enough to comprehend that minuscule sentence! I didn't really mean anything by it anyway, just giving him a hard time.

ElectricMucus

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Quote from: ElectricMucus on August 05, 2013, 11:43:06 AM

There are only a little over 20 mil dollars on mtgox. (at least according to the order book)

maybe not ?

Quote

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

Quote from: humanitee on August 05, 2013, 12:04:39 PM

My rationale behind this is that almost everybody had their USD somewhere in a bid during the rally. It might go as high as about the double of that overall, which I doubt, but for sake of the argument lets assume it is true. 40mil wouldn't change anything in that regard.

vokain

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maybe not ?

Quote

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

Literally, the next sentence "The risk is now too high for us to credit accounts prematurely."

Your reading skills = terrible.

he isn't a native English speaker. but still

humanitee

hero member

Activity: 1302

Merit: 502

maybe not ?

Quote

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

Quote from: ElectricMucus on August 05, 2013, 11:43:06 AM

Literally, the next sentence "The risk is now too high for us to credit accounts prematurely."

Your reading skills = terrible.

myself

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chaos is fun...…damental :)

There are only a little over 20 mil dollars on mtgox. (at least according to the order book)

maybe not ?

Quote

For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

Quote from: vokain on August 05, 2013, 11:32:22 AM

ElectricMucus

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Quote from: ElectricMucus on August 05, 2013, 11:19:28 AM

I get the strange suspicion that Avalon tried to leverage their way into a larger Bitcoin stash, (payed for expenses on credit) and now are looking for the easy way out.

That they fake something like this could mean that it isn't going to well for them.

hasn't bitcoin increased in worth since they first started taking payments?

That doesn't stop them from trying. Who knows what their real expenses are.

And the price increase is much less pronounced in these quantities. There are only a little over 20 mil dollars on mtgox. (at least according to the order book)

vokain

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Quote from: ElectricMucus on August 05, 2013, 11:19:28 AM

I get the strange suspicion that Avalon tried to leverage their way into a larger Bitcoin stash, (payed for expenses on credit) and now are looking for the easy way out.

That they fake something like this could mean that it isn't going to well for them.

hasn't bitcoin increased in worth since they first started taking payments?

ElectricMucus

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Marketing manager - GO MP

I get the strange suspicion that Avalon tried to leverage their way into a larger Bitcoin stash, (payed for expenses on credit) and now are looking for the easy way out.

That they fake something like this could mean that it isn't going to well for them.

vokain

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Activity: 1834

Merit: 1019

Quote from: myself on August 05, 2013, 10:45:40 AM

Quote from: vokain on August 05, 2013, 09:47:49 AM

Quote from: myself on August 05, 2013, 09:34:14 AM

Quote from: superduh on August 05, 2013, 02:28:01 AM

one word: overpaid

with your narrow vision maybe.

LOL

If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years.

thats not the point the point is fair price

$200M set aside for a 10+ year grand scheme that might not have fiat returns and progressive fiat expenses for awhile isn't unreasonable.

myself

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Quote from: vokain on August 05, 2013, 09:47:49 AM

Quote from: myself on August 05, 2013, 09:34:14 AM

Quote from: superduh on August 05, 2013, 02:28:01 AM

one word: overpaid

with your narrow vision maybe.

LOL

If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years.

thats not the point the point is fair price

vokain

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Activity: 1834

Merit: 1019

Quote from: myself on August 05, 2013, 09:34:14 AM

Quote from: superduh on August 05, 2013, 02:28:01 AM

one word: overpaid

with your narrow vision maybe.

LOL

If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)