Topic: Effect of Ulbricht&#039;s 50,000 Btc Auction (Read 2468 times)

Quote from: BitCoinNutJob on March 09, 2015, 01:03:07 PM

What if the Person dumps those coins ?
Are we ready to take such a big hit?

1. If the person dumps all those coins, then probably he/she lost in this game. Definitely a big loss if ever.
2. Yes. Seeing that we gained value and attention from scratch, I can fairly say that we are ready to face such a big hit.

Well! i was thinking he could maybe manipulate the market , like a pump and dump , he could easily do that with his number of coins

Strange note appears on the transaction:

i see many people here begging for money, but i`m looking for an investor for my app-idea.Mr. Zuckerberg payed for Whatsapp $19 bil. My app will be used worldwide.i tried to get money this way: milliondollarsapp.com. Do you want to be my private investor?

lol https://blockchain.info/address/1DNM1TgbL8yYTsDzADw9W17Es2BEezMBpi

LOL yes , saw it too
Quite funny.
I wonder do these people really get any investors like this?

okthen

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Quote from: NUFCrichard on March 09, 2015, 02:13:13 PM

Quote from: BillyBobZorton on March 09, 2015, 01:39:27 PM

Quote from: avatar_kiyoshi on March 07, 2015, 05:13:30 AM

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

The winner will probably hold because most likely he bought above market price and once bitcoin starts gaining traction there will be no reason to sold unless you are mentally deficient.

Why most likely above market rate? All we actually know, or have heard from a reliable source, its that a bid of $224 was not enough to win a lot, so the price was more than $224 for some of the lots.

The 30% over market price is an unconfirmed rumour, let's wait and see what is confirmed in the next few hours, the market reaction seems to be indicating that the buy price was over market value, but how much more is anyone's guess.

That assumption is not just based in the 30% rumor, but on the past auctions...

NUFCrichard

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Quote from: BillyBobZorton on March 09, 2015, 01:39:27 PM

Quote from: avatar_kiyoshi on March 07, 2015, 05:13:30 AM

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

The winner will probably hold because most likely he bought above market price and once bitcoin starts gaining traction there will be no reason to sold unless you are mentally deficient.

Why most likely above market rate? All we actually know, or have heard from a reliable source, its that a bid of $224 was not enough to win a lot, so the price was more than $224 for some of the lots.

The 30% over market price is an unconfirmed rumour, let's wait and see what is confirmed in the next few hours, the market reaction seems to be indicating that the buy price was over market value, but how much more is anyone's guess.

dothebeats

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Quote from: BillyBobZorton on March 09, 2015, 01:39:27 PM

Quote from: avatar_kiyoshi on March 07, 2015, 05:13:30 AM

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

The winner will probably hold because most likely he bought above market price and once bitcoin starts gaining traction there will be no reason to sold unless you are mentally deficient.

True. If the winning bidder bought above the market price, then he/she wouldn't sell it off in a much lower price as it will result into a large loss. If he/she is insane, then probably he/she would do just that.

BillyBobZorton

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Quote from: avatar_kiyoshi on March 07, 2015, 05:13:30 AM

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

The winner will probably hold because most likely he bought above market price and once bitcoin starts gaining traction there will be no reason to sold unless you are mentally deficient.

dothebeats

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Quote from: Q7 on March 07, 2015, 11:13:09 AM

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?

1. If the person dumps all those coins, then probably he/she lost in this game. Definitely a big loss if ever.
2. Yes. Seeing that we gained value and attention from scratch, I can fairly say that we are ready to face such a big hit.

BitCoinNutJob

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Strange note appears on the transaction:

i see many people here begging for money, but i`m looking for an investor for my app-idea.Mr. Zuckerberg payed for Whatsapp $19 bil. My app will be used worldwide.i tried to get money this way: milliondollarsapp.com. Do you want to be my private investor?

lol https://blockchain.info/address/1DNM1TgbL8yYTsDzADw9W17Es2BEezMBpi

RodeoX

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Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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.

You may be right about that. However the buyer at an auction is a different kind of buyer that uses the exchanges. (This is my theory). Exchanges are far to risky for an institutional buyer to use. They want to get $100K in one shot with no risk of fraud. A marshal auction is a very safe place to buy and that is worth a lot to a real investor. The big fish I know set up a private arrangement with a miner or look for a chance like an auction. They would not even consider sending money to an exchange.

chriswen

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They send text transactions to winners. We have 1 3k confirmed winner. 47k is still in control by the feds.

uhoh

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Quote from: BitCoinNutJob on March 09, 2015, 11:49:14 AM

1 person bought all the coins is the rumor, this is the coins i think:

https://blockchain.info/address/12pCPrWvudnefJCtXQUBcm9z2NogtC3Rix?filter=1

I thought the same, but apparently not. Follow it along, it's being split.

BitCoinNutJob

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1 person bought all the coins is the rumor, this is the coins i think:

https://blockchain.info/address/12pCPrWvudnefJCtXQUBcm9z2NogtC3Rix?filter=1

koelen3

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Quote from: lyth0s on March 08, 2015, 01:15:10 AM

Quote from: polynesia on March 08, 2015, 12:30:06 AM

Quote from: polynesia on March 08, 2015, 12:30:06 AM

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

Why would they purchase something for 30% more if at all they want to dispose it?

All we know is that at the bitcoins sold at least for greater than 17% less than market price, so at LEAST $224. But no where was it said that the buyers paid more than 30% market price!

Where is it shown it's greater than 17% of market price?

JimboToronto

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Quote from: polynesia on March 08, 2015, 12:30:06 AM

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

Why would they purchase something for 30% more if at all they want to dispose it?

Regardless of whether they paid above, below or at market price, they didn't buy to sell.

They bought to acquire coins, most likely for new enterprises which need Bitcoin inventories.

Not everyone is a daytarder. Some here seem to forget that obvious fact.

lyth0s

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Quote from: Aboveyourass on March 07, 2015, 11:44:39 AM

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

Why would they purchase something for 30% more if at all they want to dispose it?

All we know is that at the bitcoins sold at least for greater than 17% less than market price, so at LEAST $224. But no where was it said that the buyers paid more than 30% market price!

JimboToronto

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You're never too old to think young.

You are spreading FUD,bag holder

Do you even know what the acronym FUD stands for?

I don't see fear, uncertainty or doubt being cast.

FUD is more typical of of bears who attempt to induce fear, uncertainty and doubt about Bitcoin by making negative comments in an attempt to drive prices down.

polynesia

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Quote from: Aboveyourass on March 07, 2015, 11:44:39 AM

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

Why would they purchase something for 30% more if at all they want to dispose it?

koelen3

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Quote from: bri912678 on March 07, 2015, 10:16:52 AM

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

You are spreading FUD,bag holder

The rumor was started by a tweet from a twitter account called cryptokees. It's based on nothing but his claim that an "anonymous source" told him before the winners had even been notified. His corresponding bitcointalk account was tweeting for free giveaways of low value plankton shit coins last summer so he can't be rich.

He mentions a coindesk article in his tweet, but there is nothing about 30% above market price in it. I think he just added the coindesk article link to con people into believing it backs his rumor up, which it does not.

Quote from: bri912678 on March 05, 2015, 08:36:54 PM

Quote from: ChuckBuck on March 05, 2015, 05:18:08 PM

Quote from: Xiaoxiao on March 05, 2015, 04:46:14 PM

That it was sold 30% (!!!) above market price? Could someone find any news links or any person from say CoinDesk confirm this?

Rumor only for now:

https://twitter.com/CryptoKees/status/573577241235423232

No confirmation from any news source yet.

...

Why would anyone trust this?

The Sparood bitcointalk account links to the twitter account that the rumor came from (https://twitter.com/cryptokees)

https://bitcointalksearch.org/topic/m.7889951

He's not even a senior member.

The link in his tweet unshortens to http://www.coindesk.com/third-usms-bitcoin-auction-bidder-interest/ which makes no mention of 30% above market price.

Everything is based on the word of a full member account who was promoting a shitcoin like plankton.

Wow! thanks for the share man , so much you know for being a newbie(JK it's your alt) but doesn't matter , nice info .
i have been saying to everyone that it's nothing more than a rumour .
What just a simple member can cause with a lie .

Aboveyourass

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Quote from: bri912678 on March 07, 2015, 10:16:52 AM

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

You are spreading FUD,bag holder

The rumor was started by a tweet from a twitter account called cryptokees. It's based on nothing but his claim that an "anonymous source" told him before the winners had even been notified. His corresponding bitcointalk account was tweeting for free giveaways of low value plankton shit coins last summer so he can't be rich.

He mentions a coindesk article in his tweet, but there is nothing about 30% above market price in it. I think he just added the coindesk article link to con people into believing it backs his rumor up, which it does not.

Quote from: bri912678 on March 05, 2015, 08:36:54 PM

Quote from: ChuckBuck on March 05, 2015, 05:18:08 PM

Quote from: Xiaoxiao on March 05, 2015, 04:46:14 PM

That it was sold 30% (!!!) above market price? Could someone find any news links or any person from say CoinDesk confirm this?

Rumor only for now:

https://twitter.com/CryptoKees/status/573577241235423232

No confirmation from any news source yet.

...

Why would anyone trust this?

http://s11.postimg.org/hsub9v603/rumor.png

The Sparood bitcointalk account links to the twitter account that the rumor came from (https://twitter.com/cryptokees)

http://s10.postimg.org/76hlcp9d5/rimor2.png
https://bitcointalksearch.org/topic/m.7889951

He's not even a senior member.

The link in his tweet unshortens to http://www.coindesk.com/third-usms-bitcoin-auction-bidder-interest/ which makes no mention of 30% above market price.

Everything is based on the word of a full member account who was promoting a shitcoin like plankton.

uki

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Yet another topic about the auction. What for, really? There is nothing more to be said, beyond what has been already stated in the previous threads on that.
There will be no dumping of these coins, as they were acquired cheaply and they will be hold till the price rises more. Much more.

Amph

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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

Q7

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Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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.

koelen3

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Quote from: bri912678 on March 07, 2015, 10:46:39 AM

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 ?

bri912678

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Quote from: sAt0sHiFanClub on March 07, 2015, 10:41:07 AM

Quote from: BitCoinNutJob on March 07, 2015, 09:55:32 AM

Quote from: chriswen on March 06, 2015, 06:33:24 PM

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.

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/

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.

I'm not exactly surprised his bid didn't get filled.

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Quote from: BitCoinNutJob on March 07, 2015, 09:55:32 AM

Quote from: calci on March 07, 2015, 05:42:35 AM

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.

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.

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Quote from: Agestorzrxx on March 07, 2015, 05:34:02 AM

Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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.

BitCoinNutJob

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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.

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.

koelen3

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Quote from: Monetizer on March 07, 2015, 05:26:46 AM

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.

No i can't find the link but he didn't took part in this auction

resya

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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.

koelen3

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Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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

calci

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Quote from: Agestorzrxx on March 07, 2015, 05:34:02 AM

Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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.

Agestorzrxx

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Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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.

BitCoinNutJob

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Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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.

Monetizer

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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.

koelen3

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Quote from: niktitan132 on March 07, 2015, 05:12:34 AM

Quote from: LiteCoinGuy on March 07, 2015, 04:55:55 AM

-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%

koelen3

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Sooner or later, a man who wears two faces forgets

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 Tongue

Yes! the potential does understand it , but what about the Hype that will be caused , don't you think it will effect the price?

Quote from: cheekychap on March 07, 2015, 05:02:07 AM

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

avatar_kiyoshi

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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

niktitan132

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