Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Not sure how you got from "two participants [going] on record [with] lowball offers" to anything meaningful. If offers were made @$100 or even $20 per, would the statements be any different?
Lowball offer based on market price means market price times some value < 1.
The lower that value, the more arb profit. The closer that value to 1, the higher the chance you'll get a chance at arb profit.
If you think they submitted a $20 offers, sure, go ahead. I sure would have liked to see the meeting the bank lady had with her superiors afterwards.
What wraps it up is that one participant outbid all other participants on all lots. The previous auction converged around market price at the time, that's all I'm saying. I don't care if it was market +5% or market -5%, but my point is, from references to on-exchange market price plus auction mechanics and one winner of all lots, "near market" is a pretty conservative conclusion. Harping on about how it probably went away for a fraction sounds more like wishful thinking to me, tbh.
1. You have offered no justifications for "+-5% market" other than "one bidder won all the lots."
2. How many participants were there?
3. While any offer below market could be correctly termed as "lowball offer," how does this translate to +-5% market?