Silk road bitcoins Auction - Bitcoin Price

luciann

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Quote from: countryfree on September 09, 2015, 05:09:01 PM

I'm not expecting this to change anything since it will be only one transaction, with the highest bidder a very different guy from the average bitcoiner. The scary thing would be that those BTC would be sold one at a time, but this isn't how they will do it.

if they dont do it at one at a time, then you assume its just 1 big dump? lol.

thats such a shit storm waiting to happen, but whatever.. cant do much against people who have money to do these things like this.

countryfree

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Your country may be your worst enemy

I'm not expecting this to change anything since it will be only one transaction, with the highest bidder a very different guy from the average bitcoiner. The scary thing would be that those BTC would be sold one at a time, but this isn't how they will do it.

gentlemand

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Welt Am Draht

I can see why people got antsy before the first auction. I don't think this one is barely worth discussing. The bidders will be of the highest calibre. We'll never know the price. None of the coins will ever hit any exchange.

Full stop.

mrhelpful

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Quote from: Jerry S on September 09, 2015, 01:15:01 AM

it will go down for a long period of time but only after a price increase

so youre assuming like that guy above like how we have a over supply with coins.

if anything if I saw the supply coming out of no where, id be buying if people were selling the silkroad coin reaction.

aakashsangwan

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PUGG.io

Quote from: techgeek on September 08, 2015, 11:34:32 PM

Quote from: leipebarry on September 07, 2015, 04:29:36 AM

Quote from: OmegaStarScream on September 06, 2015, 09:00:35 AM

So what do you think is going to happen now ? looking at this article seems like they are going to auction the bitcoins seized from silk road http://www.coindesk.com/us-marshals-bitcoin-auction-2015/

Quote

In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013 along with 29,655 BTC held in wallets on the online black market at the time of its closure.

The event will be the final auction involving bitcoins from the Silk Road investigation, with 44,336 BTC ($10m at press time) being offered up to prospective investors.

That's a decent amount of bitcoin honestly and It could affect bitcoin hardly , what do you think is going to happen ? we are in no need of another huge dump with all the XT drama and the panic going on but it's likely to happen ..

I think a big investment company is going to buy them and sit on them for 5 to 10 years and when the price is right slowly put them back on the market.
Tim Draper won the previous aunction and he did not dump them, he is holding them for at least 10 years and he knows the price is going to go way up.

most of those guys are ex goldman sach members arent they?

last time I heard some private mining called cucumber mining, which all of them are collected by ex-bankers.

I think they changed their domain, I forget. I know it was cucumber something though..

I think this are all ways of bitcoin fluctuations, by showing this article they want public to come out and sell in panic so that they can buy it at low rates and what you told like keep them for some long period. my view is what ever happens my target is 500$ for selling till then i will only accumulate bitcoins and keep it for future .

Jerry S

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it will go down for a long period of time but only after a price increase

techgeek

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Quote from: leipebarry on September 07, 2015, 04:29:36 AM

Quote from: OmegaStarScream on September 06, 2015, 09:00:35 AM

So what do you think is going to happen now ? looking at this article seems like they are going to auction the bitcoins seized from silk road http://www.coindesk.com/us-marshals-bitcoin-auction-2015/

Quote

In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013 along with 29,655 BTC held in wallets on the online black market at the time of its closure.

The event will be the final auction involving bitcoins from the Silk Road investigation, with 44,336 BTC ($10m at press time) being offered up to prospective investors.

That's a decent amount of bitcoin honestly and It could affect bitcoin hardly , what do you think is going to happen ? we are in no need of another huge dump with all the XT drama and the panic going on but it's likely to happen ..

I think a big investment company is going to buy them and sit on them for 5 to 10 years and when the price is right slowly put them back on the market.
Tim Draper won the previous aunction and he did not dump them, he is holding them for at least 10 years and he knows the price is going to go way up.

most of those guys are ex goldman sach members arent they?

last time I heard some private mining called cucumber mining, which all of them are collected by ex-bankers.

I think they changed their domain, I forget. I know it was cucumber something though..

techgeek

hero member

Activity: 826

Merit: 1000

Quote from: |Bitcoin| on September 07, 2015, 04:21:11 AM

If gonnadump we pick cheap coin. If gonna go east we are rich. Simple as simplicity.

Are you talking about doing some arbitrage?

cause you need to quickly sell off just as you bought as well. when you refer to east im going to assume china since their usd hedges the rnb.

luciann

sr. member

Activity: 252

Merit: 250

How cheap are they getting off of the auctions?

Anyone know? Like are they saving by the $100`s? or just a small amount compared using todays current rates.

kampretkabur

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Quote from: lissandra on September 08, 2015, 09:19:39 PM

144,000 silk road coins going back into the market is going to dent the price im sure.

Its going to raise alarms who arent in tuned to where the sell off is from thinking its some whale selling off their coins - creating another panic sell off.

thats right, the first thing that will happen is a creation of panic sell before it will go up again

lissandra

sr. member

Activity: 434

Merit: 250

144,000 silk road coins going back into the market is going to dent the price im sure.

Its going to raise alarms who arent in tuned to where the sell off is from thinking its some whale selling off their coins - creating another panic sell off.

botany

legendary

Activity: 1582

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Most of the buyers of bitcoins in these auctions are long term bulls. Unless somebody with the intent of flipping them at exchanges for a quick profit buys them, it won't have a negative impact on the price.
Once the uncertainty around this additional supply of bitcoins hitting the market gets removed, we should see a positive trend (ceteris paribus).

leipebarry

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Quote from: OmegaStarScream on September 06, 2015, 09:00:35 AM

So what do you think is going to happen now ? looking at this article seems like they are going to auction the bitcoins seized from silk road http://www.coindesk.com/us-marshals-bitcoin-auction-2015/

Quote

In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013 along with 29,655 BTC held in wallets on the online black market at the time of its closure.

The event will be the final auction involving bitcoins from the Silk Road investigation, with 44,336 BTC ($10m at press time) being offered up to prospective investors.

That's a decent amount of bitcoin honestly and It could affect bitcoin hardly , what do you think is going to happen ? we are in no need of another huge dump with all the XT drama and the panic going on but it's likely to happen ..

I think a big investment company is going to buy them and sit on them for 5 to 10 years and when the price is right slowly put them back on the market.
Tim Draper won the previous aunction and he did not dump them, he is holding them for at least 10 years and he knows the price is going to go way up.

|Bitcoin|

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If gonnadump we pick cheap coin. If gonna go east we are rich. Simple as simplicity.

MbccompanyX

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★YoBit.Net★ 350+ Coins Exchange & Dice

Somehow i think that instead of causing a dump it may increase a little bit the price, if you check the actual data the bitcoin price is raising and maybe if the price of the Auction will be almost the same and people starts fighting for the Silk Road bitcoins maybe an increase of 5-7% is possible in my opinion

tsoPANos

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In math we trust.

Most likely they will be bought from some rich investors who heard about bitcoin and want to play with them.
I don't think they will sell. Most likely they will be invested on startups.

TheButterZone

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RIP Mommy

Quote from: coinpr0n on September 07, 2015, 02:37:34 AM

It could go either way. But this being the "final" auction I think is a bullish sign. You wouldn't want your auction-bought bitcoins depreciating much after this.

May or may not be the final for Silk Road coins, but https://dockets.justia.com/search?parties=bitcoin&cases=mostrecent reveals some of the "civil forfeiture" cases in the pipeline. As long as government exists, BTC will be seized, regardless if nobody was actually harmed in connection with that BTC, by non-government actors violating the non-aggression principle.

shane

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they are says : "We still don’t have any dates to announce, but do expect to [hold the event] before the end of the year."

so price will be up more and more until end of this year ?

Harvin

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This is scary I am assuming the bitcoins will go down but bitcoin always survives lets just hope the government doesn't intentionally sell them for super super low

coinpr0n

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It could go either way. But this being the "final" auction I think is a bullish sign. You wouldn't want your auction-bought bitcoins depreciating much after this.

Topic: Silk road bitcoins Auction - Bitcoin Price (Read 1608 times)