Topic: Effect of Ulbricht's 50,000 Btc Auction - page 2. (Read 2462 times)
there will be no effect, since they can't dump something purchased for 30% more, unless they are stupid, also i don't think they want to crush the price, therefore in the case of a dump, it will be done outside of the market
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
Common sense would tell that if the winner of the auction is paying higher than the market price, I don't think the guy will just dump it straight away to the open market. Somehow I have doubts whether the 30% claim is true in the first place. I mean with the money he has, he can opt to buy from different exchangers or even buy it in batches. What I think is that more likely the bidder might have won the auction paying at lower than market price.
The losing bidder was Kardashev Capital who bid $221.51
They might have only bid on one lot too. We have nothing solid to go on except it was above $221.51 for one or more lots.
$221.51 for total 50k BTC or one batch ?
Also $221.51 k or M ?
it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
From what ive heard draper has either not bid or hasnt won this auction, think the last 2k he bought was the final lot for him.
"bitcoins sold closer to or even above market price" (but just barely over, quoted from an underbidder) They wont be dumped. They will simply provide liquidity to the growing numbers of exchanges.
The losing bidder was Kardashev Capital who bid $221.51
They might have only bid on one lot too. We have nothing solid to go on except it was above $221.51 for one or more lots.
https://bitcoinmagazine.com/19512/us-marshals-auction-participant-price-not-significantly-market/
I'm not exactly surprised his bid didn't get filled.
Quote
According to Kardashev Capital, whose bid of $221.51 per bitcoin was approximately 17 percent under the market value of the coins as of the close of bidding on Thursday, it did not win any lots.
“While we’re disappointed to learn that we weren’t a winning bidder, I’m glad to hear that the bitcoins sold closer to or even above market price,” said Kardashev Capital partner Greg Gum.
“While we’re disappointed to learn that we weren’t a winning bidder, I’m glad to hear that the bitcoins sold closer to or even above market price,” said Kardashev Capital partner Greg Gum.
I'm not exactly surprised his bid didn't get filled.
it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
From what ive heard draper has either not bid or hasnt won this auction, think the last 2k he bought was the final lot for him.
"bitcoins sold closer to or even above market price" (but just barely over, quoted from an underbidder) They wont be dumped. They will simply provide liquidity to the growing numbers of exchanges.
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
Are you sure the price is 30% higher than the market price?Is there any reliable resource can confirm this?
I believe the one who win this coin surly understand the value of bitcoin.
They will not dump it.
I think it was the rise in interest and the possiblity of it being 30% more than the market price. Not sure what the result was though.
You have to think about it the paying over 30% market price is boarder line fairy tale, someone with that kind of money understands the market and if they wanted 50k Bitcoin they could have got that from multiple exchanges setting buy walls up and after a week they would have their 50k easily but they would have paid less than market price. The auction they paid less without a doubt in my mind.
it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
From what ive heard draper has either not bid or hasnt won this auction, think the last 2k he bought was the final lot for him.
it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
No i can't find the link but he didn't took part in this auction
it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
Unless they are rich/a company who is looking to cause problems to btc... That could cause some problems.
Even rich people ain't doing that .
Anyways am just talking here about the Hype that the news could cause , not actually the Dump.
am sure anyone who bought so many coins ain't dumping them all
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
Are you sure the price is 30% higher than the market price?Is there any reliable resource can confirm this?
I believe the one who win this coin surly understand the value of bitcoin.
They will not dump it.
I think it was the rise in interest and the possiblity of it being 30% more than the market price. Not sure what the result was though.
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
Are you sure the price is 30% higher than the market price?Is there any reliable resource can confirm this?
I believe the one who win this coin surly understand the value of bitcoin.
They will not dump it.
On March 5th, 2015, the United States Marshals Service concluded its second online auction of bitcoins seized from Ross Ulbricht. The sealed bid auction was for 50,000 bitcoins divided into two series. The first series comprised ten blocks of 2,000 bitcoins and the second had ten blocks of 3,000 bitcoins. Bidders had to deposit US$ 100,000 for the first series and US$ 150,000 for the second series. The total number of bids stood at 34 from 14 bidders, and the value of the bitcoins at current market rates stands just shy of US$ 14 million.
The winning bidder will be notified on March 6th, 2014, and will be required to wire payment to the USMS by 2:00 pm, Monday, March 9th, 2015
Source : https://www.cryptocoinsnews.com/us-marshals-conclude-online-bitcoin-auction-ross-ulbrichts-bitcoins/
So what do you think, will be the effect of this on market.
The winner will be disclosed on 9-10 march .
What if the Person dumps those coins ?
Are we ready to take such a big hit?
Looking forward to hearing the results, twice as many bidders as last time. I heard rumor that pantera capital have bought everything this time though.
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
Unless they are rich/a company who is looking to cause problems to btc... That could cause some problems.
-snip-
So what do you think, will be the effect of this on market.
The winner will be disclosed on 9-10 march .
What if the Person dumps those coins ?
Are we ready to take such a big hit?
Nope, i doubt the person will dump the coins, he would make a huge lost as he is buying over the market price.Bitcoin is a having a big potential as technology and as type of investing.
The effect of this will be positive.
I see many people saying that he bought above the market price .
Can someone please provide me with the link where it shows he bought them at +30%
What if the Person dumps those coins ?
makes no sense. these investors understand BTCs potential.
Are we ready to take such a big hit?
yes. because i understand BTCs potential
makes no sense. these investors understand BTCs potential.
Are we ready to take such a big hit?
yes. because i understand BTCs potential
Yes! the potential does understand it , but what about the Hype that will be caused , don't you think it will effect the price?
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
We aren't sure they were bought for 30% extra , it's just a rumour as of yet
I doubt the winner bid will directly dump the price, must be the winner is understand about bitcoin. My guess is the winner will make the ladder order which sell little bit
-snip-
So what do you think, will be the effect of this on market.
The winner will be disclosed on 9-10 march .
What if the Person dumps those coins ?
Are we ready to take such a big hit?
Nope, i doubt the person will dump the coins, he would make a huge lost as he is buying over the market price.Bitcoin is a having a big potential as technology and as type of investing.
The effect of this will be positive.
It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away
What if the Person dumps those coins ?
makes no sense. these investors understand BTCs potential.
Are we ready to take such a big hit?
yes. because i understand BTCs potential
makes no sense. these investors understand BTCs potential.
Are we ready to take such a big hit?
yes. because i understand BTCs potential
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