Topic: Group buy for the silkroad auction (Read 2346 times)

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I guess it is this one: https://bitcointalksearch.org/topic/srbabs-closed-662178

Can you link to that thread?

We have put some predictions for this topic on the market.

For example will the price of the Block B be higher then the lowest Block A?
People think that this will happen - if you don't and you are right you get 1.5 times your money back:

https://www.fairlay.com/event/category/bitcoin/price/

I have proposed a group buy for this same purpose on another thread in the Marketplace section, and currently it appears that I am the only one who has the $200,000 USD ready for the deposit which will be required sooner than later.

I think if we want to make this happen all of the group-buy organizers need to synergize.

I have corresponded with the US Marshals Service regarding the prospect of a group buy.  Their response was brief:


I take this to mean that they will approve of a group buy, and my basic approach is acceptable.

On the other hand, I have not given up.

If you are interested, please fill out my survey listed in my signature.

I have asked to borrow $200,000 from a bank to be sent to the US Marshals Service with my bidder registration, and I have asked the US Marshals Service for clarification on whether I can submit a group bid so long as I submit information on section 1B and 1E of the bidder's form for each person with at 5% or more interest in the group.  I would need to have the USD on deposit in time to send in the winning bid on time.

This is not a deal for people who are confrontational with the FBI or US Marshals Service, or who are unwilling to submit their identity documents as a part of the deal.  On the other hand, if we are the only bidders to come forward, we can get BTC at only 10% of the market price.

If the bid fails, I will return all the funds, less any wire transfer or other bank charged amounts.  If the deal goes through, I will keep 3% of the bitcoins as my compensation.

I was a part of the USD refund after the bitfloor exchange failed.  If you were also part of that refund, you may wish to have USD in your related account, just in case.

If anyone has thoughts on how a multi-sig address can be used to make people feel more confident, please feel free to discuss.

No.

Are you still going to charge everyone $100 for depositing their money with you since you were not able to get everything in place in time?

Folks, the btx group bid off -- we won't be able to get the necessary operations in place, in time.

First off, they're auctioning it. And if a smart investor wins the auction, they're not going to dump coins if they already saw how high the Bitcoin price can rocket. Third off, someone outside of the Bitcoin ring buying it says 'legal', and they're willing to let anyone take part in it, unlike fiat.

A idiotic investor, however, wouldn't even look into this new thing of currency.

I'd be interested.. I could front about $1k.

Although.. I have very low trust of any human soo  I'll have to talk to the person who is setting this personally.

If the price is close to current market price, I believe that would be a very good news, as it would indicate big whales have confidence in bitcoin.

I see, so it is not an auction. It is a tender where participants do not know each other's bids. Interesting 

I think it wont be above market. It won`t be a normal auction (one say a price, another say higher). One can bid only once without knowing the others bids. After all the bids are made the higher bid wins. over.

Do you guys think the final winning bid is above or below market rate? I think there is a good chance the winning bid is slightly above market rate. 

If an investor wants to buy that much bitcoin in one go on the exchanges, it would pump the price sky high. So bidding an above market rate is actual cheap for him. The bid will then pose a positive effect on the prices on the exchange.

For us, buying bitcoin from the exchanges now would actually be cheaper than participating in the auction.

wich are this "obvious reasons"? I think that it would be better to don`t let the government have those bitcoins. I wish to belive that whoever will win the auction won`t just dump the coins.

It would be better if the Bitcoin community doesn't buy them, for obvious reasons.

I didn't see in OP. I see on the website that there has been some pledges is that updated instantly or once the wire transfer is confirmed?
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They are charging a 5% fee if they win and will charge $100 if they do not win.

I am not saying that they are not legitimate but the limited timeframe to submit bids would be a great opportunity to try to pull a scam. 

5000$, written in the landing page.
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I didn't see in OP. I see on the website that there has been some pledges is that updated instantly or once the wire transfer is confirmed?