FBI U.S. Marshals Auction Prices Leaked! (Bullish) - page 4.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: Coin_Master on July 03, 2014, 01:42:35 AM

Quote from: QuestionAuthority on July 01, 2014, 10:43:16 PM

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

It should be obvious why BlackRock / Pantera Capital would want to buy "verifiably clean" bitcoins.
DannyElfman's assertion that "Since bitcoin is fungible any coins are just as good as any other coins" is misguided.
What happens when BlackRock "the world’s largest asset manager" with more than $4.32 Trillion US dollars under management pushes the issue, and Wall Street Investors demand "verifiably clean" bitcoins?
Who wants to be associated with "criminal activities" and "terrorists" using unqualified coins?

Wake up and smell the coffee man Wink

I won't really care what happens to Bitcoin at that point because I will have moved on to another crypto-currency.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

I dont buy it. The numbers are too round and too high

beetcoin

sr. member

Activity: 434

Merit: 250

i remember there was some guy who wanted to "mark" good bitcoins and kind of cause a fork.. well, i don't see that really happening with the cooperation of the government, since the US marshals sold silk road coins.

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

Well I watched the press conference video
From that all I know is that he outbid the other bidders so I guess two ways to approach it
1. Ask what other people bid for that lost
2. Get him to spill the beans Cool

Coin_Master

full member

Activity: 148

Merit: 100

Quote from: QuestionAuthority on July 01, 2014, 10:43:16 PM

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

It should be obvious why BlackRock / Pantera Capital would want to buy "verifiably clean" bitcoins.
DannyElfman's assertion that "Since bitcoin is fungible any coins are just as good as any other coins" is misguided.
What happens when BlackRock "the world’s largest asset manager" with more than $4.32 Trillion US dollars under management pushes the issue, and Wall Street Investors demand "verifiably clean" bitcoins?
Who wants to be associated with "criminal activities" and "terrorists" using unqualified coins?

Wake up and smell the coffee man Wink

DannyElfman

sr. member

Activity: 406

Merit: 250

Quote from: ?? on ??

Quote from: QuestionAuthority on July 02, 2014, 10:15:14 PM

If there is any markup at all to these coins he could have saved money by buying them slowly at multiple exchanges with not much more time than they waited for the bid date. The only reason to bid at all is to either get screwed or buy below spot.

These are now 100% Clean Bitcoins in the eyes of US - almost like a new minted bitcoin that you just mined - no future questions at all.

Since bitcoin is fungible any coins are just as good as any other coins. The only exception would be freshly "minted" (mined) coins that have not matured yet.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: ?? on ??

Quote from: QuestionAuthority on July 02, 2014, 10:15:14 PM

If there is any markup at all to these coins he could have saved money by buying them slowly at multiple exchanges with not much more time than they waited for the bid date. The only reason to bid at all is to either get screwed or buy below spot.

These are now 100% Clean Bitcoins in the eyes of US - almost like a new minted bitcoin that you just mined - no future questions at all.

Who cares what the government thinks and we don't have blacklisting so it doesn't matter.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: kokojie on July 02, 2014, 08:03:43 PM

Quote from: QuestionAuthority on July 01, 2014, 10:43:16 PM

Quote from: kokojie on July 01, 2014, 10:32:00 PM

Quote from: CoinHoarder on July 01, 2014, 10:14:11 PM

I understand there are a lot of fees involved when buying that many Bitcoins, but $274 worth of fees per Bitcoin? Huh

That would mean they paid $39,549,708 over market value.....

It doesn't make any sense. I expected them to go higher than market value due to fees of buying that much Bitcoin, but $274 per Bitcoin is a little much.

I could of bought them that many Bitcoins and only taken a $100 per Bitcoin cut ($14,434,200.) Wink

I guess you need to take into account of how buying this much Bitcoin would affect the market, but damn that seems like a lot.

No, actually you can't, if I gave you $20m right now and ask you to return me 32000 BTC in a week, you can't do it on open exchange without pushing the price up to $800-$900 level.

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

There's a ton of reasons, for example there's currently several ETN trying to launch on wall street, and all of them will need a ton of BTC reserves on hand to start their operations. Or maybe just some rich guy thinking BTC price will explode in the coming weeks and trying to get in as soon as possible, and he might be right (or wrong).

If there is any markup at all to these coins he could have saved money by buying them slowly at multiple exchanges with not much more time than they waited for the bid date. The only reason to bid at all is to either get screwed or buy below spot.

kokojie

legendary

Activity: 1806

Merit: 1003

Quote from: QuestionAuthority on July 01, 2014, 10:43:16 PM

Quote from: kokojie on July 01, 2014, 10:32:00 PM

Quote from: CoinHoarder on July 01, 2014, 10:14:11 PM

I understand there are a lot of fees involved when buying that many Bitcoins, but $274 worth of fees per Bitcoin? Huh

That would mean they paid $39,549,708 over market value.....

It doesn't make any sense. I expected them to go higher than market value due to fees of buying that much Bitcoin, but $274 per Bitcoin is a little much.

I could of bought them that many Bitcoins and only taken a $100 per Bitcoin cut ($14,434,200.) Wink

I guess you need to take into account of how buying this much Bitcoin would affect the market, but damn that seems like a lot.

No, actually you can't, if I gave you $20m right now and ask you to return me 32000 BTC in a week, you can't do it on open exchange without pushing the price up to $800-$900 level.

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

There's a ton of reasons, for example there's currently several ETN trying to launch on wall street, and all of them will need a ton of BTC reserves on hand to start their operations. Or maybe just some rich guy thinking BTC price will explode in the coming weeks and trying to get in as soon as possible, and he might be right (or wrong).

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

Yep if the spread is market less 9 % that means that at minimum its above that price if not at market or a premium
Still a few outcomes on this one either way I hope that we find out instead of being left to wait in the dark for a month or two
Sooner is better ^_^

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: WoopDeBoop on July 01, 2014, 11:38:13 PM

Second market have already said that some of their bids were market value -10%

So they went for at least market value -9% on that day which was $570 - $51.3 = approx $520

At an absolute minimum.

$520 is the minimum this bidder bid, and for them to be 1% over the next highest bidder on every block seems unlikely, but that remains the absolute minimum they could have paid.

Which is good news for us. They won't be dumping them on the market looking to make an immediate profit.

WoopDeBoop

full member

Activity: 271

Merit: 101

Second market have already said that some of their bids were market value -10%

So they went for at least market value -9% on that day which was $570 - $51.3 = approx $520

At an absolute minimum.

$520 is the minimum this bidder bid, and for them to be 1% over the next highest bidder on every block seems unlikely, but that remains the absolute minimum they could have paid.

Light

hero member

Activity: 742

Merit: 502

Circa 2010

Quote from: QuestionAuthority on July 01, 2014, 10:43:16 PM

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

Yeah, given that Bitstamp itself deals with 17,000+ BTC a day, it shouldn't be too hard to buy a thousand a day at market price over the course of the month. Given that your giving your details to the government anyway with the US marshal's auction, I don't see how that would be much different than giving the necessary documentation to an exchange for AML/KYC purposes. Unless of course you don't trust the exchange...

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: kokojie on July 01, 2014, 10:32:00 PM

Quote from: CoinHoarder on July 01, 2014, 10:14:11 PM

I understand there are a lot of fees involved when buying that many Bitcoins, but $274 worth of fees per Bitcoin? Huh

That would mean they paid $39,549,708 over market value.....

It doesn't make any sense. I expected them to go higher than market value due to fees of buying that much Bitcoin, but $274 per Bitcoin is a little much.

I could of bought them that many Bitcoins and only taken a $100 per Bitcoin cut ($14,434,200.) Wink

I guess you need to take into account of how buying this much Bitcoin would affect the market, but damn that seems like a lot.

No, actually you can't, if I gave you $20m right now and ask you to return me 32000 BTC in a week, you can't do it on open exchange without pushing the price up to $800-$900 level.

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

kokojie

legendary

Activity: 1806

Merit: 1003

Quote from: CoinHoarder on July 01, 2014, 10:14:11 PM

I understand there are a lot of fees involved when buying that many Bitcoins, but $274 worth of fees per Bitcoin? Huh

That would mean they paid $39,549,708 over market value.....

It doesn't make any sense. I expected them to go higher than market value due to fees of buying that much Bitcoin, but $274 per Bitcoin is a little much.

I could of bought them that many Bitcoins and only taken a $100 per Bitcoin cut ($14,434,200.) Wink

I guess you need to take into account of how buying this much Bitcoin would affect the market, but damn that seems like a lot.

No, actually you can't, if I gave you $20m right now and ask you to return me 32000 BTC in a week, you can't do it on open exchange without pushing the price up to $800-$900 level.

CoinHoarder

legendary

Activity: 1484

Merit: 1026

In Cryptocoins I Trust

I understand there are a lot of fees involved when buying that many Bitcoins, but $274 worth of fees per Bitcoin? Huh

That would mean they paid $39,549,708 over market value.....

It doesn't make any sense. I expected them to go higher than market value due to fees of buying that much Bitcoin, but $274 per Bitcoin is a little much.

I could of bought them that many Bitcoins and only taken a $100 per Bitcoin cut ($14,434,200.) Wink

I guess you need to take into account of how buying this much Bitcoin would affect the market, but damn that seems like a lot.

coincollector

newbie

Activity: 12

Merit: 0

I think these numbers may have been leaked as a red herring...

polynesia

legendary

Activity: 1358

Merit: 1000

If the winning bid is $800 and the next highest bid is $500, the winner didn't do a good evaluation of the competition.
But we will not know the bidding pattern unless the feds make some additional disclosures.

BTCINVESTOR

full member

Activity: 176

Merit: 101

Cryptographic money will be the bedrock in time.

I agree that the information presented is likely dubious, but I would NOT be surprised if someone was bidding in the 700-800$ range. Institutional investors that would like a serious stake in bitcoin would dramatically increase the price on any current exchange anyway. It would take a long time to amass 30,000 BTC incrementally without affecting the price in a large way. They would have known they needed to bid high in order to get these coins in that large of a block.

They need to get in now. Institutional investors are seeing the writing on the wall and they want in. How to "get in big" is another question which is difficult to answer for the vast majority of them.

bigasic

hero member

Activity: 924

Merit: 1000

its obvious that someone paid a lot over the market rate.. Im guessing it was between 8-900 dollars per coin, but could have been more (or less, lol)

Topic: FBI U.S. Marshals Auction Prices Leaked! (Bullish) - page 4. (Read 10913 times)