Topic: FBI Seized coins on the move - page 5. (Read 6196 times)
We should gather up in bunches of 3,000, each member giving the money for one coin. There would only be the need for 30,000 of us buying those coins away and then just hodl them.
The Winklevii might bid.
I don't really see it increase again as long as these amounts of Bitcoins are for sale by the FBI.
What the hell are you talking about? It is only 30,000 coins. They are not for sale by the FBI. They are going to be auctioned off later this month. Nothing you said is true or makes any sense at all.
By the time they are sold, more than twice that amount will have been produced by miners.
It's a good thing they are not yet selling DPR's coins, though.
I wasn't up to date about the real amounts at that time, excuse me. I thought they were offering way more coins than that. According to articles like for example http://www.coindesk.com/vc-firm-bid-fbi-silk-road-bitcoins/ people think the FBI owns about 5%-10% of all Bitcoins. If these went for sale, it will harm the bitcoin even more.
It looks like they're indeed "just" selling (-> by an auction later on) the coins seized from SR. Looks like more people have noticed this, as the price increased again.
I don't really see it increase again as long as these amounts of Bitcoins are for sale by the FBI.
What the hell are you talking about? It is only 30,000 coins. They are not for sale by the FBI. They are going to be auctioned off later this month. Nothing you said is true or makes any sense at all.
By the time they are sold, more than twice that amount will have been produced by miners.
It's a good thing they are not yet selling DPR's coins, though.
I don't really see it increase again as long as these amounts of Bitcoins are for sale by the FBI.
What the hell are you talking about? It is only 30,000 coins. They are not for sale by the FBI. They are going to be auctioned off later this month. Nothing you said is true or makes any sense at all.
So this is why the price drowned so hard while I was busy with World Cup? That caused a trade of mine gone to big profit to small loss 
I'm sure this "crash" is all about the seized coins from SR by the FBI.
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For me they learned with the chinese how manipulate the market to get some money, and we will see many news about this that will drive the price lower and lower. Perfect time to sell all your things and all family member, get as many loans as you can, and have a huge profit in some months.
Looks like the famous "Tulip story" that has passed in the history. I'm told you were able to buy a house over here in The Netherlands when you had some Tulip-... (I don't know the word, > kind of seed). However, when this way to earn money crashed, most people had nothing but a flower. Moral of this story: you should loan money to invest (in something). Yes, it may succeed and it may make you rich, but hey, it may fail too.
Great time to buy
So this is why the price drowned so hard while I was busy with World Cup? That caused a trade of mine gone to big profit to small loss
For me they learned with the chinese how manipulate the market to get some money, and we will see many news about this that will drive the price lower and lower. Perfect time to sell all your things and all family member, get as many loans as you can, and have a huge profit in some months.
be happy, you can buy cheap. It will be on 650 again probably in this week already. For me they learned with the chinese how manipulate the market to get some money, and we will see many news about this that will drive the price lower and lower. Perfect time to sell all your things and all family member, get as many loans as you can, and have a huge profit in some months.
So this is why the price drowned so hard while I was busy with World Cup? That caused a trade of mine gone to big profit to small loss
For me they learned with the chinese how manipulate the market to get some money, and we will see many news about this that will drive the price lower and lower. Perfect time to sell all your things and all family member, get as many loans as you can, and have a huge profit in some months.
For me they learned with the chinese how manipulate the market to get some money, and we will see many news about this that will drive the price lower and lower. Perfect time to sell all your things and all family member, get as many loans as you can, and have a huge profit in some months.
Don't bother these panic sellers with facts. It only annoys them.
current buys on bitstamp:
560 66
555 321
550 1239
545 1801
540 2611
535 2852
530 3103
525 3539
520 3974
515 4127
510 4334
505 4557
500 4970
495 5265
490 5418
and there you come with your 30000.
It will cause a drop from 560 to about 500 if they would be sold in one time. Ridiculous.
2 Minutes later, the price would be at least at 540 again.
560 66
555 321
550 1239
545 1801
540 2611
535 2852
530 3103
525 3539
520 3974
515 4127
510 4334
505 4557
500 4970
495 5265
490 5418
and there you come with your 30000.
It will cause a drop from 560 to about 500 if they would be sold in one time. Ridiculous.
2 Minutes later, the price would be at least at 540 again.
The 30000 Btc are worth less than 18M$, which is half of today's volume. There's no need to panic about the fact that the buyer may sell some on an exchange; the market can handle it.
This. People are so dramatic all the time. Time to put in some "OMG the FBI coins are going to get DUMPED and CRASH the whole market" buy orders to pick up some cheap coins. After the sale, when nothing happens, all the panic sellers will be jumping back in to try to get their (now fewer in number) coins back.
I was really hoping that they would do this in smaller blocks so I could participate. Oh well.
I think the goobermint could make more USD on the sale by doing smaller blocks and running an ebay like auction to the general public. Oh well, maybe next time.
It will be really interesting to see what they go for - and we don't have to wait that long to find out!
The whole thing will be done by the end of the month.
I think the goobermint could make more USD on the sale by doing smaller blocks and running an ebay like auction to the general public. Oh well, maybe next time.
It will be really interesting to see what they go for - and we don't have to wait that long to find out!
The whole thing will be done by the end of the month.
The 30000 Btc are worth less than 18M$, which is half of today's volume. There's no need to panic about the fact that the buyer may sell some on an exchange; the market can handle it.
Shit
$300 pe BTC if the buyer sells on exchanges! I suspect auction buying price will be 70-80%, right?
Anyone making a bid for that much BTC wouldn't turn around and dump it on exchanges. As for the price, could end up being higher than market rate, seeing as you can't easily get that many coins on exchanges without driving up the price.
I admit, good point. Nobody can buy 29k coins withound market impact.
Dumping all these Bitcoins are the market will definately ruin the market. I think it really needs a long time afterwards to gain a value like we do currently if that is going to happen.
However, I don't think buyers will dump ALL of their coins. The current price will decrease now though, as this really looks true.
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Block Transactions. The USMS will only sell the bitcoins in the Series A and B Blocks as described above. No bitcoin transfer will be made until the USMS has confirmed receipt of all purchase funds from the buyer. The USMS will not transfer bitcoins to an obscene public address, a public address apparently in a country restricted by the Office of Foreign Assets Control (OFAC), a public address apparently associated with terrorism, other criminal activities, or otherwise hostile to the United States.
I guess I can't have them sent to my 1fbisucks.... or 1bigtits... vanity addresses.
So I need a $200,000 deposit and I have to buy 3,000 BTC. Assuming I bid, let's call it $500, I need about $1.5 million in cash to participate.
Looking under the couch seat cushions now...
I saw some opinions that this sale could be like the SR takedown event, a precursor to a rally.
But no, these two events are different: the SR crash happened because the market was primed for it,
bad news only enhanced it. In that confusion, some believed that bitcoin was going down hard. What followed
was a quick recovery, because the feds removed the coins from circulation and SR clones filled the market,
fueling demand for bitcoins into circulation in the real bitcoin economy.
But no, these two events are different: the SR crash happened because the market was primed for it,
bad news only enhanced it. In that confusion, some believed that bitcoin was going down hard. What followed
was a quick recovery, because the feds removed the coins from circulation and SR clones filled the market,
fueling demand for bitcoins into circulation in the real bitcoin economy.
@ 600/coin its around 17mil, wouldn't that only help to boost the price of BTC?
I can promise you no one is going to bid anywhere near market price on these. Most investors top mark of a investment is 70% of the value after expenses. @ 600 a coin they would bid around the $420 mark.
Why not? Someone buying 3k BTC right now will move the price up. By auctioning near the market price they don't move the price at all.
how low do you folks think this is going before bottoming out?
This is a great entry point for institutional investors who want to buy coins without driving the market price up.
The market is definitely overreacting and i'm about to double my holdings.
The market is definitely overreacting and i'm about to double my holdings.
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