Topic: xpost from Press: Joe Lewis plans to invest $200M into Avalon (hoax) (Read 2775 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

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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.

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)

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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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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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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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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

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chaos is fun...…damental :)

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

one word: overpaid

with your narrow vision maybe.

LOL

ElectricMucus

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Quote from: vokain on August 05, 2013, 09:02:01 AM

Either way, false or not, this should bring very interesting discussion to the table for monied people as to what is possible. There is a very serious first-mover advantage for the first big group investing in bitcoin that takes it seriously.

As in the other, now deleted thread: They could also just get pissed off by this.

thezerg

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Quote from: N12 on August 05, 2013, 09:17:51 AM

The media is completely ridiculous, WTF is so difficult about doing some research before printing your shit?

It's like they aren't even here to inform anymore, only to spread bullshit.

I do wonder how this false information could have happened.

A strangely detailed article for FUD... could be only one detail (the investor perhaps) is incorrect. On the other hand, the person spreading the Paypal rumor seemed a cut above the average liar. Could be there's a high stakes pump operation going on...

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The media is completely ridiculous, WTF is so difficult about doing some research before printing your shit?

It's like they aren't even here to inform anymore, only to spread bullshit.

I do wonder how this false information could have happened.

vokain

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Quote from: vokain on August 05, 2013, 08:58:48 AM

Quote from: canth on August 05, 2013, 08:06:52 AM

https://twitter.com/ScottWapnerCNBC/status/364370798892421120

'Spoke to Joe Lewis this morning who says of reported Bitcoin investment: "Completely Untrue". Tells me he's "Never heard of Phoenix Fund" '

For everyone that sold out last night...waaa waaa.

Either way, false or not, this should bring very interesting discussion to the table for monied people as to what is possible. There is a very serious first-mover advantage for the first big group investing in bitcoin that takes it seriously.

umaOuma

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Quote from: Tzupy on August 05, 2013, 03:00:54 AM

Right now it may look overpaid, but if they get the latest process technology for new ASICs, then in the future
they will have a significant competitive advantage. Meaning that after ROI, they'll be able to hoard BTC
and manipulate the market as well as the early adopters / large whales. They could make a couple billions of $.
Anyway, it looks like small ASIC miners are not going to survive long.

But i guess they will sell the 20nm miners.
Thats where the money are right now

Tzupy

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Right now it may look overpaid, but if they get the latest process technology for new ASICs, then in the future
they will have a significant competitive advantage. Meaning that after ROI, they'll be able to hoard BTC
and manipulate the market as well as the early adopters / large whales. They could make a couple billions of $.
Anyway, it looks like small ASIC miners are not going to survive long.

gizmoh

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I call this a Bluff!
Every 2 years they get $200 million funding, same crap recycled again, Avalon & manipulators can spit whatever they want to get btc prices up so they can unload their stash.

vokain

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

one word: overpaid

with your narrow vision maybe.

superduh

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one word: overpaid

Hfleer

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Changing avatars is currently not possible.

Seems like good news, is it possible to buy Avalon stock at any of the exchanges?

ElectricMucus

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I have no idea why somebody would announce something like this... None.

buy, buy, buy Roll Eyes

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HODL OR DIE

Quote from: myself on August 04, 2013, 11:49:40 PM

implication of this regarding 51% attacks ?

Coouldn't ASICminer have done so?

myself

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chaos is fun...…damental :)

implication of this regarding 51% attacks ?

vokain

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Quote from: solex on August 04, 2013, 10:14:06 PM

Quote from: humanitee on August 04, 2013, 10:03:30 PM

Quote from: vokain on August 04, 2013, 10:02:46 PM

Quote from: bobdude17 on August 04, 2013, 10:01:42 PM

I don't know, but it would be a crazy coincidence that it would be both Avalon and 200 million again.

Plus, of all companies why Avalon?

they were the first ASIC producers to come to market, so proven track record
also, Phoenix probably negotiated the best deal with them

Also, their identities are known and they aren't massive failures like BFL. Cheesy

Maybe Joe Lewis is an avid reader of Phinnaeus Gage's posts!

He'd be wise to do so

solex

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100 satoshis -> ISO code

Quote from: humanitee on August 04, 2013, 10:03:30 PM

Quote from: vokain on August 04, 2013, 10:02:46 PM

Quote from: bobdude17 on August 04, 2013, 10:01:42 PM

I don't know, but it would be a crazy coincidence that it would be both Avalon and 200 million again.

Plus, of all companies why Avalon?

they were the first ASIC producers to come to market, so proven track record
also, Phoenix probably negotiated the best deal with them

Also, their identities are known and they aren't massive failures like BFL. Cheesy

Maybe Joe Lewis is an avid reader of Phinnaeus Gage's posts!

humanitee

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Quote from: vokain on August 04, 2013, 10:02:46 PM

Quote from: bobdude17 on August 04, 2013, 10:01:42 PM

I don't know, but it would be a crazy coincidence that it would be both Avalon and 200 million again.

Plus, of all companies why Avalon?

they were the first ASIC producers to come to market, so proven track record
also, Phoenix probably negotiated the best deal with them

Also, their identities are known and they aren't massive failures like BFL. Cheesy

vokain

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Quote from: bobdude17 on August 04, 2013, 10:01:42 PM

I don't know, but it would be a crazy coincidence that it would be both Avalon and 200 million again.

Plus, of all companies why Avalon?

they were the first ASIC producers to come to market, so proven track record
also, Phoenix probably negotiated the best deal with them

bobdude17

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I don't know, but it would be a crazy coincidence that it would be both Avalon and 200 million again.

Plus, of all companies why Avalon?

humanitee

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Quote from: vokain on August 04, 2013, 09:59:15 PM

Quote from: bobdude17 on August 04, 2013, 09:56:56 PM

According to reddit the author fucked up, old story is here : http://www.feld.com/wp/archives/2011/01/avalon-ventures-raises-a-new-200-million-fund-and-gets-a-new-website.html

I'm unsure what's going on.

Do you think Joe Lewis or the Phoenix Fund would've been mentioned?

Command+F "Phoenix"
0 out of 0 results

http://www.avalon-ventures.com/news/san-diego%E2%80%99s-avalon-ventures-closes-ninth-fund-raises-200-m

Better yet go to the Avalon site and do it.

vokain

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Quote from: bobdude17 on August 04, 2013, 09:56:56 PM

According to reddit the author fucked up, old story is here : http://www.feld.com/wp/archives/2011/01/avalon-ventures-raises-a-new-200-million-fund-and-gets-a-new-website.html

I'm unsure what's going on.

Do you think Joe Lewis or the Phoenix Fund would've been mentioned?

Command+F "Phoenix"
0 out of 0 results

bobdude17

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According to reddit the author fucked up, old story is here : http://www.feld.com/wp/archives/2011/01/avalon-ventures-raises-a-new-200-million-fund-and-gets-a-new-website.html

I'm unsure what's going on.

humanitee

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Quote from: vokain on August 04, 2013, 09:46:20 PM

and kraken, tradehill and coinsetter are just around the corner!

Don't put words in my mouth Wink

.

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Quote from: humanitee on August 04, 2013, 09:44:45 PM

Quote from: vokain on August 04, 2013, 09:43:05 PM

Quote from: goxed on August 04, 2013, 09:40:55 PM

Quote from: vokain on August 04, 2013, 09:43:05 PM

https://bitcointalksearch.org/topic/m.286806

anddddd SPECULATE!

Setup for Mother of all Rallies?

hehe not with gox like this

We don't really need'em. Go to Coinbase or Stamp, peoples. The fact that Gox is still leading the market boggles my mind.

and kraken, tradehill and coinsetter are just around the corner!

humanitee

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Quote from: goxed on August 04, 2013, 09:40:55 PM

Quote from: goxed on August 04, 2013, 09:40:55 PM

https://bitcointalksearch.org/topic/m.286806

anddddd SPECULATE!

Setup for Mother of all Rallies?

hehe not with gox like this

We don't really need'em. Go to Coinbase or Stamp, peoples. The fact that Gox is still leading the market boggles my mind.

vokain

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https://bitcointalksearch.org/topic/m.286806

anddddd SPECULATE!

Setup for Mother of all Rallies?

hehe not with gox like this

goxed

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Bitcoin / Crypto mining Hardware.