Post
Topic
Board Bitcoin Discussion
Re: When Wall Street will finally jump in?
by
CryptoPanda
on 11/03/2014, 13:00:36 UTC
This definitely would make me feel comfortable with the amount of risk, but it's a lot of work, even for someone like me who I'd only consider a small investor in comparison to general Wall Street types you guys are after. For example, a typical position size in any particular given stock for me on any given day may be ~mid six-figures. To acquire that $ amount of bitcoins by the method you mentioned, I'd have to "rinse and repeat" 100+ times. If each time even took only a single day, that's still 3+ months to enter a position. And that's for someone like me who is pretty small potatoes in the Wall Street world. Let alone the fact that Wall Street people tend to make a decent amount of money, so dealing with that every day has a high real-dollar opportunity cost in terms of their time. And that's just for a small/mid-sized investor like myself. Large funds are the type you'd really want, and they'd come in and pick up 10, 20, 30 million dollars of BTC at a time. That'd never work for them. You need a way that an investor can come safely and buy up BTC all in one go.



Just one thing here.

750k / 50k = 15 not 150

So you have to do 15 wires of $50k each

I imagine you have online banking so that would take you 1 min.
Then setting  the order at the exchange and ordering a transfer to your local wallet another 1 min (roughly)

so doing that 15 times will take you 30 mins total.

You can do 1 wire every day, and have all the money in and out in BTC within 15 days.


So buying $750k worth of bitcoins will take you 30 mins of work total spread over 15 business days.

Now that it looks easier, please go ahead and buy them, we need the price to go up, thank you! Smiley