Topic: Ross Ulbricht 140k bitcoins potential auction and market crash in future. - page 2. (Read 7265 times)
July 19, 2014, 08:00:20 PM
Given how well the 30K coin auction went I am much less concerned about this one, especially since it may not ever happen.
July 16, 2014, 11:02:15 PM
I suspect that people with lots of money are all too aware that these coins will be auctioned off (within the next year) and are not willing to invest until this issue gets resolved. No point having the price rise exponentially and then get demolished by the auction.
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July 12, 2014, 01:41:23 PM
Regardless, one participant did purchase all ~30k coins in the most recent auction without any major disruption to the market. The price did fall prior to the auction, however this was driven by speculators.
And even the 140k isnt that much. Well, at least compared to 650k still missing from Gox. So basicly like 5% of the coins in the hands of one crook or gang.How come there is no news on those? With log files and block chains you would expect some news by now.
July 12, 2014, 12:38:31 PM
Regardless, one participant did purchase all ~30k coins in the most recent auction without any major disruption to the market. The price did fall prior to the auction, however this was driven by speculators.
And even the 140k isnt that much. Well, at least compared to 650k still missing from Gox. So basicly like 5% of the coins in the hands of one crook or gang.How come there is no news on those? With log files and block chains you would expect some news by now.
sr. member
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July 12, 2014, 11:33:46 AM
Most likely crashes even harder as the market depth can not support close to 80M usd worth of bitcoin.
Not entirely sure the US Marshalls will be auctioning off all 140K bitcoins at once. More than likely I suspect they will release them in batches over time. At least if they are smart they will.But yeah, obviously bitcoin could go down (a bit) right after the sale of these coins whether in batches or not (moreso if in a single batch)...but as bitcoin has shown us time and time again she will once again rise from the ashes barring some cataclysmic event. Truthfully I'm more worried about fuck-tards like Isis now asking people to donate to their brutal cause in bitcoin/darkcoin than I am the 140K bitcoins the Marshall's are holding. All it will take is one serious terrorist episode taking place on US soil that can somehow be proven to have been funded either partially or in full with bitcoin or some crypto and I believe they would subsequently launch a concerted effort to crush confidence in it.
July 09, 2014, 02:20:49 AM
Most likely crashes even harder as the market depth can not support close to 80M usd worth of bitcoin.
Not entirely sure the US Marshalls will be auctioning off all 140K bitcoins at once. More than likely I suspect they will release them in batches over time. At least if they are smart they will.But yeah, obviously bitcoin could go down (a bit) right after the sale of these coins whether in batches or not (moreso if in a single batch)...but as bitcoin has shown us time and time again she will once again rise from the ashes barring some cataclysmic event. Truthfully I'm more worried about fuck-tards like Isis now asking people to donate to their brutal cause in bitcoin/darkcoin than I am the 140K bitcoins the Marshall's are holding. All it will take is one serious terrorist episode taking place on US soil that can somehow be proven to have been funded either partially or in full with bitcoin or some crypto and I believe they would subsequently launch a concerted effort to crush confidence in it.
legendary
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July 08, 2014, 05:36:52 PM
Does Dread Pirate Roberts stand a chance?
I would say small and getting smaller as the legal regulations around Bitcoin are getting put into place
The only chance he has to win this is if he can argue its his right to give out the Private Key and they stole it from him unfairly lol.
That won't exonerate him from the drugs related charges.
Yah he is pretty pawned, the US treats Bitcoin as legitimate property now that is sellable which they proved with the Silk Road Auction so they have pretty much already proven that it is an asset of theirs, and Ross would lose the legal case that he was planning on arguing about it not being recognized as having value so pretty boned.
I guess you can be rich and then lose it all lol.
legendary
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July 08, 2014, 05:13:17 PM
Does Dread Pirate Roberts stand a chance?
I would say small and getting smaller as the legal regulations around Bitcoin are getting put into place
The only chance he has to win this is if he can argue its his right to give out the Private Key and they stole it from him unfairly lol.
July 08, 2014, 08:49:23 AM
As far as I can tell, the price has not "crashed" due to the auction...
But that was only the 30K SR coins. Up next for auction will be the bigger +140K stash if Ross is convicted. He denies being DPR so technically the coins are still his.
Is that the defense he is going to use in court?
Sound like a good defense as it will be extremely hard for the government to prove DPR identity.
July 08, 2014, 01:10:53 AM
As far as I can tell, the price has not "crashed" due to the auction...
But that was only the 30K SR coins. Up next for auction will be the bigger +140K stash if Ross is convicted. He denies being DPR so technically the coins are still his.
July 07, 2014, 03:45:20 PM
As far as I can tell, the price has not "crashed" due to the auction...
July 07, 2014, 01:29:58 PM
Roger Ver Set to Donate 165K+on Twitter For Ross Ulbricht’s Defense. (USD not BTC) https://bitcointalksearch.org/topic/2014-07-07-roger-ver-set-to-donate-165kon-twitter-for-ross-ulbrichts-defense-680466. This will ensure years of litigation while the bitcoins will 1) Remain tied up in the courts and 2) Keep appreciating in value.
By the time this litigation is over the 144k BTC could even be worth more than the official US government gold reserves!
By the time this litigation is over the 144k BTC could even be worth more than the official US government gold reserves!
legendary
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July 07, 2014, 02:40:56 AM
Well hopefully by the time the legal cases are done this specter will be forgotten for a while
In the meantime bitcoin will have grown even stronger
In the meantime bitcoin will have grown even stronger
July 06, 2014, 05:25:43 PM
If we are lucky, the US Marshal will not need to sell them by the time Ross's bitcoin ownership is sorted out.
July 06, 2014, 05:14:02 PM
exactly,it will take years to auction These Coins.
since they were auctioned off-exchanges like the recent ones,they will not effect the market.
Let alone the spot Price will be much higher than now,as we all suppose
Let`s talk about Ross`s bitcoins in a few years
since they were auctioned off-exchanges like the recent ones,they will not effect the market.
Let alone the spot Price will be much higher than now,as we all suppose
Let`s talk about Ross`s bitcoins in a few years
If we are lucky, the US Marshal will not need to sell them by the time Ross's bitcoin ownership is sorted out.
They will just use them to buy stuff needed by the government, or could be used to pay back some of the Federal Gov. debt.
July 06, 2014, 10:43:11 AM
Those 140k coins aren't going anywhere for a long time. They will tied up in the courts for years, and this case to say the least is very complex. To get an idea of just some of the issues here, take a look at the Free Ross Ulbricht site: http://freeross.org/ When some time in the future the court cases are finally resolved and the prevailing party decides to sell it is likely they will have an impact on the market. It is also possible this impact is bearish and significant. The trouble for a bear trying to play this is that the crash could be from say 1,200,000 USD per BTC to say 600,000 USD per BTC. So a bear selling at say 560 USD per BTC would be out of luck.
The wheels of justice move very slowly and provide ample time for the slaughter of many a bitbear.
exactly,it will take years to auction These Coins.The wheels of justice move very slowly and provide ample time for the slaughter of many a bitbear.
since they were auctioned off-exchanges like the recent ones,they will not effect the market.
Let alone the spot Price will be much higher than now,as we all suppose
Let`s talk about Ross`s bitcoins in a few years
July 06, 2014, 08:43:04 AM
... but how can one use this to trade now, not 2 years, 5 years, etc. down the road when these court cases eventually get settled?
The 144,000BTC will be auctioned if the FBI wins the civil trial and it may be bought up by someone who wouldn't have bought that many bitcoins on the market
In addition it has been priced in already
June 29, 2014, 09:42:54 PM
... but how can one use this to trade now, not 2 years, 5 years, etc. down the road when these court cases eventually get settled?
June 29, 2014, 07:37:46 PM
those coins will be sold off-exchange, so it has no price influence.
Coin being sold off have influence on market regardless of where they are being sold off.
The person buying the coins could then sell them on an exchange but the initial transaction from the government to the buyer will not affect prices directly but rather indirectly if there is news/rumors/etc.
June 29, 2014, 07:36:24 PM
those coins will be sold off-exchange, so it has no price influence.
Coin being sold off have influence on market regardless of where they are being sold off.
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