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11-05-2015 , 10:30 PM

#17776

27AllIn

Carpal \'Tunnel

Join Date: Oct 2008 Posts: 6,583

How many coins did you buy today onemoretimes

Quote

11-05-2015 , 10:33 PM

#17777

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by 27AllIn

The thing is, even if someone buys a whole bunch of coins it doesn't mean that the price is going to skyrocket. If it was the case that BTC goes up each time a large amount of money is put into it, then obviously smart rich people would already take advantage of that and make easy money. There's a lot of people looking to sell when the price goes up, which hey could trigger a giant BTC price reduction.

This doesn't really work because the smart rich people also have to sell the coins back onto the market to make the profit, and as they do that the price tanks and they lose back what they made on the way up. HOWEVER.. the feds auctioned coins so they got to sell 44k coins at an inflated price without causing the market to drop as they sold them. You sound pretty newbie, so I'm going to leave it at that and be on my way

Quote

11-05-2015 , 10:33 PM

#17778

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by 27AllIn

How many coins did you buy today onemoretimes

LOL.. why would I buy.. I'm shorting this bubble.

Quote

11-05-2015 , 10:41 PM

#17779

27AllIn

Carpal \'Tunnel

Join Date: Oct 2008 Posts: 6,583

Didn't the previous FED coins get sold at below market value. If someone can confirm this, that would pretty much discredit any semblance of credit onemoretimes has in his argument.

Quote

11-05-2015 , 10:46 PM

#17780

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by 27AllIn

Didn't the previous FED coins get sold at below market value. If someone can confirm this, that would pretty much discredit any semblance of credit onemoretimes has in his argument.

Wow. Even if they were sold below market, the people bidding use the current market price to decide what to bid. So if market price is higher, they bid higher.

Quote

11-05-2015 , 11:15 PM

#17781

TimM

Carpal \'Tunnel

Join Date: Jan 2004 Posts: 9,797

onemoretimes: the only short who's "right" when the market goes up $200 and then down $100.

Quote

11-05-2015 , 11:22 PM

#17782

TomCollins

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 43,064

Quote:

Originally Posted by TimM

onemoretimes: the only short who's "right" when the market goes up $200 and then down $100.

Yeah, especially when they let it fall $100 before the bids, not after. Should have waited an extra day, what kind of incompetent morons did that?

Quote

11-05-2015 , 11:30 PM

#17783

Shifty86

veteran

Join Date: Dec 2013 Posts: 3,499

I'm sure the investors bidding just check the price the day of the auction to decide what their bid will be.

Quote

11-06-2015 , 01:36 AM

#17784

NxtWrldChamp

Carpal \'Tunnel

Join Date: Feb 2008 Posts: 9,082

And it appears one of the biggest exchanges is experiencing a cyber attack this morning?

Quote

11-06-2015 , 04:30 AM

#17785

steelhouse

banned

Join Date: Feb 2007 Posts: 6,109

Quote:

Originally Posted by NxtWrldChamp

And it appears one of the biggest exchanges is experiencing a cyber attack this morning?

They use to do this to create a panic sell at MtGox, then they would sell at top and buy at bottom and reap the rewards.

Quote

11-06-2015 , 07:46 AM

#17786

jij452

adept

Join Date: Jan 2009 Posts: 1,169

Quote:

Originally Posted by TomCollins

Yeah, especially when they let it fall $100 before the bids, not after. Should have waited an extra day, what kind of incompetent morons did that?

Quote

11-06-2015 , 07:50 AM

#17787

ECTAE

journeyman

Join Date: Dec 2012 Posts: 366

If someone wanted the price of bitcoin to go down by $1, could they manipulate it with $200k if they made a order? Or do you need a lot more funds to change bitcoins price by $1

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11-06-2015 , 08:47 AM

#17788

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 53,734

Omt, are you a 9/11 truther?

Quote

11-06-2015 , 09:12 AM

#17789

ECTAE

journeyman

Join Date: Dec 2012 Posts: 366

Quote:

Originally Posted by housenuts

Omt, are you a 9/11 truther?

jet fuel doesnt melt steal beams

Quote

11-06-2015 , 09:35 AM

#17790

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 53,734

Also omt logic makes no sense.
His theory govt is going to pump up price pre auction.
Why then were you shorting?

Quote

11-06-2015 , 10:17 AM

#17791

TimM

Carpal \'Tunnel

Join Date: Jan 2004 Posts: 9,797

Sweeping the order book by selling $200K worth of BTC would knock down the price about $8 on Coinbase Exchange. I don't think that would do much, because there are many other exchanges, and it would likely not cause others to panic sell.

Quote

11-06-2015 , 10:20 AM

#17792

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by TomCollins

Yeah, especially when they let it fall $100 before the bids, not after. Should have waited an extra day, what kind of incompetent morons did that?

As explained before.. it's only profitable to use a certain amount of money to take the price up. They can't control how high the public would take it. If the public takes it 500 because everyone has fomo and then they all change their minds.. the feds just can't buy it all up at 500 to hold the price.

Quote

11-06-2015 , 10:37 AM

#17793

h_ven

Pooh-Bah

Join Date: Apr 2004 Posts: 5,569

I don't know who any of you are, but you sound like a bunch of people who think they can handicap sports. You just can't do it.

Quote

11-06-2015 , 10:42 AM

#17794

27AllIn

Carpal \'Tunnel

Join Date: Oct 2008 Posts: 6,583

I don't know who you are h_ven but your dog is straight up ballin

Quote

11-06-2015 , 11:55 AM

#17795

TomCollins

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 43,064

Quote:

Originally Posted by onemoretimes

So they cost themselves 44,000 * $100 = $4,400,000 by not buying a bit more when it started to dip to continue the public rise up?

How much do you figure they spent on coins to rise the price? When do they sell those? Who gets the profits from the extra money raised?

Quote

11-06-2015 , 04:47 PM

#17796

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by TomCollins

Look.. I had a theory. It made a lot of sense the feds could pull this off and make a bunch of extra cash. I don't have the exact details. I'm not a member of the feds. I said let the price do the talking. The price has spoken. That was the ONE thing I said we'll let decide this because it can't be proven. Now that the price action has acted EXACTLY like I had said.. I'm still getting the questions. Do yourself a favor and unload and short then buy cheaper. Then thank the feds.

Quote

11-06-2015 , 04:49 PM

#17797

TimM

Carpal \'Tunnel

Join Date: Jan 2004 Posts: 9,797

What you miss is that it costs more to manipulate the price than they could have made by doing so.

Quote

11-06-2015 , 04:58 PM

#17798

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by TimM

What you miss is that it costs more to manipulate the price than they could have made by doing so.

That's not true. If you have 44k coins to auction, but can move the price up $50 by buying 15k coins.. don't you think that's a +ev play?

Quote

11-06-2015 , 05:00 PM

#17799

TimM

Carpal \'Tunnel

Join Date: Jan 2004 Posts: 9,797

You can't move the price $50 by buying 15K in coins. Not even close.

Quote

11-06-2015 , 05:04 PM

#17800

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,538

Quote:

Originally Posted by TimM

You can't move the price $50 by buying 15K in coins. Not even close.

Right now you could spike it + $30 for 4500 coins on ********.

The thing is if they start to accumulate, they get the damn momentum traders jumping on that help move it for them. How many ****ing articles came out because bitcoin price was going up which brought in even more buyers. I got a damn text from my mom today saying she read bitcoin is back on the move and may be a good buy. (she knows I'm a bitcoin person). I couldn't help but laugh

Quote

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