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Topic: [2016-08-23] Anonymous bidder bought $1.6 mln of last Silk Road bitcoins (Read 330 times)

legendary
Activity: 1232
Merit: 1000
Anonymous bidder bought $1.6 mln of last Silk Road bitcoins
US Marshals Service has auctioned 2,700 BTC in a single lot mostly combining seized funds from a few Silk Road related cases.
http://www.coinfox.info/news/6244-anonymous-bidder-bought-1-6-mln-of-last-silk-road-bitcoins

It possibly would be a big fish like Tim Draper.
The US agents won't disclose the buyers until they themselves decide to make it public.
legendary
Activity: 1232
Merit: 1091
I would have thought a large auction like this would mean a "deal" on BTC.  After reading through this article and doing basic math, the buyer didn't get a deal at all.

$1,600,000.00 for 2700 BTC = 592.59 per coin.  The exchange rate is lower than that.  Wonder why no significant deal??

It is infact a decent price if you calculate how much it would cost you when you buy that many coins yourself from an exchange.

Bitfinex 2700 BTC would require you to buy the price up to slightly over the $600 level.

Bitstamp 2700 BTC would require you to buy the price up to the $685 level.

BTC-E 2700 BTC would require you to buy the price up to the $660 level.

Huge differences, but you get the point (I hope).
hero member
Activity: 758
Merit: 606
I would have thought a large auction like this would mean a "deal" on BTC.  After reading through this article and doing basic math, the buyer didn't get a deal at all.

$1,600,000.00 for 2700 BTC = 592.59 per coin.  The exchange rate is lower than that.  Wonder why no significant deal??
sr. member
Activity: 252
Merit: 250
Anonymous bidder bought $1.6 mln of last Silk Road bitcoins
US Marshals Service has auctioned 2,700 BTC in a single lot mostly combining seized funds from a few Silk Road related cases.
http://www.coinfox.info/news/6244-anonymous-bidder-bought-1-6-mln-of-last-silk-road-bitcoins
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