Silk Road Bitcoin Auction Winner Tim Draper Won't Say How Much He Paid - page 2.

Guido

legendary

Activity: 1061

Merit: 1001

Quote from: franky1 on July 03, 2014, 09:43:30 AM

who cares how much he paid. thats his private business. after 4 years of people wanting governments to stay out of bitcoins and not have regulations and not make everything public,... a few of you now want full disclosure of someones bitcoin transaction.

seriously?

how about you reveal every transaction you have done. and get all your family and friends to upload their credit card statements.

knowing about a 30k bitcoin transaction is meaningless. bitpay do more then this all the time.. so does coinbase, so does alot of merchants. so how about asking for businesses to show you their business audit/financial reports, before asking for someones private deals

THIS

franky1

legendary

Activity: 4424

Merit: 4794

who cares how much he paid. thats his private business. after 4 years of people wanting governments to stay out of bitcoins and not have regulations and not make everything public,... a few of you now want full disclosure of someones bitcoin transaction.

seriously?

how about you reveal every transaction you have done. and get all your family and friends to upload their credit card statements.

knowing about a 30k bitcoin transaction is meaningless. bitpay do more then this all the time.. so does coinbase, so does alot of merchants. so how about asking for businesses to show you their business audit/financial reports, before asking for someones private deals

RawDog

legendary

Activity: 1596

Merit: 1026

Quote from: guybrushthreepwood on July 03, 2014, 09:20:29 AM

Wont the government have to state officially somewhere how much they sold them for? Would seem a bit shady if they didn't disclose this info.

Government - shady? Are you kidding?

guybrushthreepwood

legendary

Activity: 1232

Merit: 1195

I'm sure the price will be revealed or get leaked at some point. Wont the government have to state officially somewhere how much they sold them for? Would seem a bit shady if they didn't disclose this info.

Quote from: davidgdg on July 03, 2014, 05:55:11 AM

Quote from: medUSA on July 03, 2014, 05:03:10 AM

He must have paid above market rate at the time of the auction and below the current market rate

Why do you say that he must have paid below the current market rate?

Yeah, why would anyone do that? Doesn't make any sense.

davellolzz

jr. member

Activity: 43

Merit: 10

I wonder if he bought it less or in a higher price. But since its in an auction and has more than 40+ bidders I guess he acquired it with more expensive price. Huh

Guido

legendary

Activity: 1061

Merit: 1001

well, this is the first of more auctions by fbi
they have another 110k bitcoin approx?

why show his hand when he will want to buy again at future auctions one would imagine

future bidders now know lowballing will get them nowhere and they will have to buy on open market discreetly and keep price down (whats going on now) and will have to outbid serious people and funds in auction format

Light

hero member

Activity: 742

Merit: 502

Circa 2010

Quote from: davidgdg on July 03, 2014, 05:55:11 AM

Why do you say that he must have paid below the current market rate?

Because, from what I've read from speculators, it would create a perception that the coins *should* be valued at that price point as well as some degree of fear that Draper could sell them off now for a quick profit. Clearly, if it was the case Draper wouldn't want to devalue his own holdings by stating something that he doesn't have to. Personally, I'm not sure whether I agree with the reasoning, but then again humanity isn't exactly that logical, so reasoning doesn't always explain pricing fluctuations.

davidgdg

hero member

Activity: 552

Merit: 501

Quote from: medUSA on July 03, 2014, 05:03:10 AM

He must have paid above market rate at the time of the auction and below the current market rate

Why do you say that he must have paid below the current market rate?

medUSA

legendary

Activity: 952

Merit: 1005

--Signature Designs-- http://bit.ly/1Pjbx77

He must have paid above market rate at the time of the auction and below the current market rate (ie, between $570 and $650). If he discloses his below current market rate bid, bitcoin price will fall towards his bid level. His new fortune will shrink by millions in fiat terms.

Coinbuddy

hero member

Activity: 896

Merit: 1000

BTCOn Friday, the U.S. Marshals auctioned off the nearly 30,000 Bitcoin seized from infamous online drug bazaar Silk Road. The Marshals planned to sell them off in nine blocks to different bidders, but one bidder wound up beating out the competition: venture capitalist Tim Draper, for whom VC-ism runs in the blood (his grandfather and father were successful VCs, and his son runs a tech incubator). During a press conference Wednesday, Draper refused to reveal how much he paid for the Bitcoin — valued at about $17 million the day of the auction — stating only the obvious, that he “paid more than the other people in the auction.” According to a Marshals spokesperson, 45 bidders had made 63 bids.

Read more " http://www.forbes.com/sites/kashmirhill/2014/07/02/tim-draper-silk-road-bitcoin-auction/ "

Topic: Silk Road Bitcoin Auction Winner Tim Draper Won't Say How Much He Paid - page 2. (Read 2169 times)