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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24496. (Read 26720199 times)

sr. member
Activity: 980
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Decentralized Ascending Auctions on Blockchain
Brazilian prison ain't that bad, provided you have control of your money and are able to pay people off.
If you hand over all your money and then you're facing prison with zero assets, it'd be a shitty situation.
Same goes for the whole world, pretty much.
enjoy...


Yeah, from the outside it does not look that bad, does it?

looks like a lot of public buildings in that poor south american shithole
hero member
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🐺Dogs for President🐺
And slowly back to 330.

ShroomsKit expects 330. 

It's a major bullish indicator Cheesy
hero member
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And slowly back to 330.
hero member
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If the market will recover soon, [ Ross ] will refrain from selling the other 100k, if not... Wink.

I don't think that Ross has any more control on the matter; the agreement, as I understood, covers the whole 140+ kBTC.  The USMS implied that they will auction them all, but they decided to split into three(?) auctions so as not to saturate the market.
hero member
Activity: 798
Merit: 1000
I just think its really quite funny to sit here talking about a $6 mill paper loss when even if half his prediction comes true we're talking about making $120 mill +.

I doubt he believes his own prediction, but if he can get enough other people to believe it, he can sell to them at a higher price later, which let's face it is very likely all the guy cares about.

Um no actually, due to the fact he's invested in several Bitcoin businesses as well I don't think he's looking to pump the price and dump his coins tanking his other business interests.
legendary
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 980
Merit: 256
Decentralized Ascending Auctions on Blockchain


The raid found ~30'000 BTC in the server and ~150'000 BTC in Ross's laptop.  Those were presumably the proceeds of fees from hosting businessess on SilkRoad.  Those 180'000 BTC  were kept away from the market; and part of them, at least, must have been bought by SR customers on the open market.  So Ross was obviously accumulating.  I would even guess that he had been holding almost all the bitcoins that he got.



You are the dumbest fuckin troll because you hide behind your dumbass credentials which some people take you seriously for.

If you even read the FBI indictment you'll see how many coins in total he dealt with and realise how far off the mark your stupid ass is
sr. member
Activity: 476
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I just think its really quite funny to sit here talking about a $6 mill paper loss when even if half his prediction comes true we're talking about making $120 mill +.

I doubt he believes his own prediction, but if he can get enough other people to believe it, he can sell to them at a higher price later, which let's face it is very likely all the guy cares about.
sr. member
Activity: 378
Merit: 254

Well, one of those 101 is to transfer them to a new owner; another is to deposit them on an exchange...

And then why publicly say you still have them and are planning on bidding on the new lots...?
...

For the same reason my cat is all "I meant to do that" after blowing a jump--because embarrassed.

hero member
Activity: 966
Merit: 526
🐺Dogs for President🐺
...
Exactly, this decision to sell the coins is solely from the US government not Ross.

It was a joint decision made in January.  Both the US government and Ross agreed that Bitcoin was going to tank.
...and were right.

Yes, they both agreed in January 2014, the question was if DPR had to agree to the sale now, as I thought was sensible, but I stand corrected.

"The United States and Ulbricht agree that the United States may, in its sole discretion, sell any portion or all of the Computer Hardware Bitcoins,
on a date or dates and in a manner to be determined by the Government."

So the gov believed the price will tank in June and they were right (Draper got bull trapped), the gov (not DPR) believes again the price will tank, guess what...

It's not Cheesy
sr. member
Activity: 378
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...
So the gov believed the price will tank in January and they were right (Draper got bull trapped), the gov (not DPR) believes again the price will continue to tank, guess what...

FTFY Cheesy
legendary
Activity: 2170
Merit: 1094
...
Exactly, this decision to sell the coins is solely from the US government not Ross.

It was a joint decision made in January.  Both the US government and Ross agreed that Bitcoin was going to tank.
...and were right.

Yes, they both agreed in January 2014, the question was if DPR had to agree to the sale now, as I thought was sensible, but I stand corrected.

"The United States and Ulbricht agree that the United States may, in its sole discretion, sell any portion or all of the Computer Hardware Bitcoins,
on a date or dates and in a manner to be determined by the Government."

So the gov believed the price will tank in June and they were right (Draper got bull trapped), the gov (not DPR) believes again the price will tank, guess what...
hero member
Activity: 798
Merit: 1000

Well, one of those 101 is to transfer them to a new owner; another is to deposit them on an exchange...

And then why publicly say you still have them and are planning on bidding on the new lots...?

Most people who enter a commodity auction do not want to get the item at any cost, they want to make a good deal; which almost always means buying it below market price.

For the reason already stated, I strongly suspect that all the bets in the previous auction, including Draper's, were below the market price at the time (600$/BTC).  I expect that the same will happen in this auction.

See the posts from oda above about why, with proper reasoning applied, the coins probably didnt go for much below market if at all.

Billionaires do not become so by not minding the loss of 6 millions.

Any one who owns a few thousand BTC will say that it will surely go to the moon one day.

But they do become so by being able to withstand a paper loss and not panic and sell for a loss when if they would have held for longer they would have made $$$.

I just think its really quite funny to sit here talking about a $6 mill paper loss when even if half his prediction comes true we're talking about making $120 mill +. Im sure he can hold for a couple of years without worrying too much with returns like that. Some of these conversations will be gold in the future whether it goes to the moon or to 0.

legendary
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sr. member
Activity: 378
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...
Exactly, this decision to sell the coins is solely from the US government not Ross.

It was a joint decision made in January.  Both the US government and Ross agreed that Bitcoin was going to tank.
...and were right.
hero member
Activity: 798
Merit: 1000
You really think the FBI talked to DPR and discussed with him whether now would be a good time to sell? They sell now because they can, the FBI are no speculators and they certainly didn't ask for DPR's permission first.

Actually they did talk with Ross (not clear on whose initiative) and both agreeed to sell.  The FBI still cannot sell those coins on their own, it is not yet decided whether they belong to Ross or to SilkRoad.  If they belong to Ross, they would have to wait for the verdict on Ross's trial.

I stand corrected then, thanks. Smiley Still the point stands that Ross and the FBI aren't speculators, Ross probably agreed with it because even at the price today they are worth a hell of a lot more than when he got them so why not auction them off? It's unlikely Ross will be planning to get back into the SR business and BTC if he is declared innocent, he will probably be happy with just the cash without worrying about the volatility of Bitcoin.

They agreed back on January 27, 2014 to sell based on volatility risk.  "WHEREAS, the government and Ulbricht agree that, due to the volatile market for bitcoins, the Computer Hardware Bitcoins risk losing value during the pendency of the forfeiture proceedings;"  http://www.usmarshals.gov/assets/2014/dpr-bitcoins/order.pdf

Having agreed to permit government to sell back in January, the government no longer needs any further agreement from Ross to sell.  Same link:  "1. The United States and Ulbricht agree that the United States may, at its sole discretion, sell any portion or all of the Computer Hardware Bitcoin, on a date or dates and in a manner to be determined by the Government."

Exactly, this decision to sell the coins is solely from the US government not Ross.
sr. member
Activity: 248
Merit: 250
You really think the FBI talked to DPR and discussed with him whether now would be a good time to sell? They sell now because they can, the FBI are no speculators and they certainly didn't ask for DPR's permission first.

Actually they did talk with Ross (not clear on whose initiative) and both agreeed to sell.  The FBI still cannot sell those coins on their own, it is not yet decided whether they belong to Ross or to SilkRoad.  If they belong to Ross, they would have to wait for the verdict on Ross's trial.

I stand corrected then, thanks. Smiley Still the point stands that Ross and the FBI aren't speculators, Ross probably agreed with it because even at the price today they are worth a hell of a lot more than when he got them so why not auction them off? It's unlikely Ross will be planning to get back into the SR business and BTC if he is declared innocent, he will probably be happy with just the cash without worrying about the volatility of Bitcoin.

They agreed back on January 27, 2014 to sell based on volatility risk.  "WHEREAS, the government and Ulbricht agree that, due to the volatile market for bitcoins, the Computer Hardware Bitcoins risk losing value during the pendency of the forfeiture proceedings;"  http://www.usmarshals.gov/assets/2014/dpr-bitcoins/order.pdf

Having agreed to permit government to sell back in January, the government no longer needs any further agreement from Ross to sell.  Same link:  "1. The United States and Ulbricht agree that the United States may, at its sole discretion, sell any portion or all of the Computer Hardware Bitcoin, on a date or dates and in a manner to be determined by the Government."
sr. member
Activity: 378
Merit: 254
Quote
And that, kids, is why US prisons are so disproportionately blacks/minorities.  Because wealthy Roll Eyes
And here I though you understood reading comprehension, since you just brought it up a minute ago.

legendary
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legendary
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You really think the FBI talked to DPR and discussed with him whether now would be a good time to sell? They sell now because they can, the FBI are no speculators and they certainly didn't ask for DPR's permission first.

Actually they did talk with Ross (not clear on whose initiative) and both agreeed to sell.  The FBI still cannot sell those coins on their own, it is not yet decided whether they belong to Ross or to SilkRoad.  If they belong to Ross, they would have to wait for the verdict on Ross's trial.

I stand corrected then, thanks. Smiley Still the point stands that Ross and the FBI aren't speculators, Ross probably agreed with it because even at the price today they are worth a hell of a lot more than when he got them so why not auction them off? It's unlikely Ross will be planning to get back into the SR business and BTC if he is declared innocent, he will probably be happy with just the cash without worrying about the volatility of Bitcoin.
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