I really think all the coins will go above market price.
Think about it, exchange free coins, a bunch at the time without affecting the market.
Plus the winner bidders will be those who believe btc will rise in price, so they'll hoard the coins for quite some time.
Topic: FBI coins could sell for a premium - page 2. (Read 5896 times)
2) But if these coins go for a premium over market price, then the buyer will hold them forever.
The reason that the coins would sell for a premium (I highly doubt they would) would be because they would be paying for something that an exchange could not otherwise provide. This would not affect the time frame of any investor of these coins
Well a second reason why they could potentially sell for a premium is that here is the opportunity to buy a large amount of coins without the market price going up. If you tried to buy that many bitcoins on an exchange in a short period of time that would cause the price to increase and you'd likely end up with less coins for your money.
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2) But if these coins go for a premium over market price, then the buyer will hold them forever.
The reason that the coins would sell for a premium (I highly doubt they would) would be because they would be paying for something that an exchange could not otherwise provide. This would not affect the time frame of any investor of these coins
So let me see if I got this straight:
1) People think that if these coins sell for a discount to market price, then they'll immediately get dumped on the market.
2) But if these coins go for a premium over market price, then the buyer will hold them forever.
Completely binary outcome, eh?
(This short sighted thinking is why the majority of bitcoiners will never be wealthy)
1) People think that if these coins sell for a discount to market price, then they'll immediately get dumped on the market.
2) But if these coins go for a premium over market price, then the buyer will hold them forever.
Completely binary outcome, eh?
(This short sighted thinking is why the majority of bitcoiners will never be wealthy)
Well no, but if someone did get them for under market value I would not be surprised to see them dump them on the market all at once in an attempt to induce selling and buy back again at a lower price once a sufficient amount of others have sold off their holdings.
It's an aggressive move but there are definitely people in the btc market that attempt to manipulate the market in ways such as that.
There are such a vast number of bitcoins being auctioned in one go, the auction price could be more or less than the current market rate, but whatever price they go for, the market exchange rate will immediately go to that level. It will be interesting to see how this high-profile test of bitcoin's market price will turn out.
Don't think the premium will be high though
Maybe 1 to 2%
Maybe 1 to 2%
So let me see if I got this straight:
1) People think that if these coins sell for a discount to market price, then they'll immediately get dumped on the market.
2) But if these coins go for a premium over market price, then the buyer will hold them forever.
Completely binary outcome, eh?
(This short sighted thinking is why the majority of bitcoiners will never be wealthy)
1) People think that if these coins sell for a discount to market price, then they'll immediately get dumped on the market.
2) But if these coins go for a premium over market price, then the buyer will hold them forever.
Completely binary outcome, eh?
(This short sighted thinking is why the majority of bitcoiners will never be wealthy)
Anyone expecting some Ebay sniping while the markets dance around in front of a live feed is going to be a bit disappointed.
It's sealed bids and it's quite likely they won't disclose the price unless there's a successful freedom of information request. We may remain in the dark about the price achieved for a long time afterwards, perhaps always.
It's sealed bids and it's quite likely they won't disclose the price unless there's a successful freedom of information request. We may remain in the dark about the price achieved for a long time afterwards, perhaps always.
Well, hopefully one of the bitcoin companies will give us a number at least. Either what they paid for them or what their highest bid was so we know a minimum amount that they went for.
I'd really like to know what their value is and I hope we get that information.
The auction is a giant stamp of approval, if not for bitcoin as a whole, than at least for the particular set of coins at auction.
I don't get this logic. It's neither approval or disapproval. It's just selling property. If the government sells a seized Ferrari - does that mean they implicitly approve of Ferrari?
u should rather use this example:
would the gov sell seized drugs?
Lets hope this sell will end well so we can finally move on...
Anyone expecting some Ebay sniping while the markets dance around in front of a live feed is going to be a bit disappointed.
It's sealed bids and it's quite likely they won't disclose the price unless there's a successful freedom of information request. We may remain in the dark about the price achieved for a long time afterwards, perhaps always.
It's sealed bids and it's quite likely they won't disclose the price unless there's a successful freedom of information request. We may remain in the dark about the price achieved for a long time afterwards, perhaps always.
sr. member
Activity: 448
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
Quote
There is an implicit guarantee that the coins to be sold are legal and without any sort of taint, at least in the eyes of the Feds
I doubt any investors will worry about this. Investors trying to buy bitcoin are likely more concerned about keeping their coins safe. This is why a BTC EFT will likely sell for a premium.
Can another auction be made straight after this one or there has to be a delay between?
I think that the price that these coins sell for is going to say a lot about the current state of bitcoin.
If they go for much over spot it's a very good sign.
The deeper the discount the more I feel that would be a bad sign since there is no safer way to purchase a large amount of coins. And if the demand isn't there for this type of transaction then it's a bad sign.
If they go for much over spot it's a very good sign.
The deeper the discount the more I feel that would be a bad sign since there is no safer way to purchase a large amount of coins. And if the demand isn't there for this type of transaction then it's a bad sign.
I think the FEDs selling coins is not all that bad anyway.
Yes, there's a little more coins to go around now (instead of assuming the fed coins 'lost forever') but at least those coins could reach an audience the normal coins do not yet reach.
Yes, there's a little more coins to go around now (instead of assuming the fed coins 'lost forever') but at least those coins could reach an audience the normal coins do not yet reach.
Yea, also, it is unlikely the buyer would just dump on a single exchange.
I think the FEDs selling coins is not all that bad anyway.
Yes, there's a little more coins to go around now (instead of assuming the fed coins 'lost forever') but at least those coins could reach an audience the normal coins do not yet reach.
Yes, there's a little more coins to go around now (instead of assuming the fed coins 'lost forever') but at least those coins could reach an audience the normal coins do not yet reach.
For large, conservative investors, this is the first chance to buy bitcoins directly from the U.S. Government. There is an implicit guarantee that the coins to be sold are legal and without any sort of taint, at least in the eyes of the Feds. Also, to many such investors, the U.S. Gvt is the most trusted trading partner possible. They are the most reliable organization to trust wiring millions of dollars to.
The auction is a giant stamp of approval, if not for bitcoin as a whole, than at least for the particular set of coins at auction.
+1 Interesting point! The auction is a giant stamp of approval, if not for bitcoin as a whole, than at least for the particular set of coins at auction.
So did they dump the coins already?
The auction is a giant stamp of approval, if not for bitcoin as a whole, than at least for the particular set of coins at auction.
I don't get this logic. It's neither approval or disapproval. It's just selling property. If the government sells a seized Ferrari - does that mean they implicitly approve of Ferrari?
u should rather use this example:
would the gov sell seized drugs?
The auction is a giant stamp of approval, if not for bitcoin as a whole, than at least for the particular set of coins at auction.
I don't get this logic. It's neither approval or disapproval. It's just selling property. If the government sells a seized Ferrari - does that mean they implicitly approve of Ferrari?
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