Topic: Silk road bitcoins Auction - Bitcoin Price - page 2. (Read 1592 times)
Last time they sold for above market price and it caused a rate increase.
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/
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 ..
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.
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 ..
Depends on what price does the USMS wants to offer. If they offer it on below market price, there is a possibility that these dudes would likely sell a portion of it and keep the bitcoins that are left when the price they bought it at was reached on the markets. These guys aren't dumb to throw millions of dollars in to something without thinking of a profit, so more or less they are thinking of ways to keep the price high rather than crashing the market by selling all those bitcoins at once.
People who buy coins like this won't just dump them straight away.
Agreed. I don't believe someone is going to buy a bulk amount of Bitcoins to have them thrown away on an exchange. The price right now is, in my opinion, super low for what the future could possibly hold. A person who would buy thousands of coins would more than likely see the same fate for Bitcoin making it foolish to dump them now when later down the line they'd be able to make multiple times the amount of profit.
I don't think nothing will happen at all. Nothing has happened during the last auction as well.
People who are strongly believing in Bitcoin are buying on these auctions. Price is very often even a bit higher than on the exchanges. Why are they buying then you might ask? Well you don't have an opportunity to buy 44,000+ of coins at the price of $241 all at once. That's a advantage of these auctions. Even if sales are made in batches of 3,000 od 5,000 coins it's still a big advantage since even 3,000 coins, if you bought them at once would move the price up a lot because very often, order books are thin.
People who buy coins like this won't just dump them straight away.
People who are strongly believing in Bitcoin are buying on these auctions. Price is very often even a bit higher than on the exchanges. Why are they buying then you might ask? Well you don't have an opportunity to buy 44,000+ of coins at the price of $241 all at once. That's a advantage of these auctions. Even if sales are made in batches of 3,000 od 5,000 coins it's still a big advantage since even 3,000 coins, if you bought them at once would move the price up a lot because very often, order books are thin.
People who buy coins like this won't just dump them straight away.
Don't think it will impact bitcoin price atleast for now, it may have some long term impact on price but they won't dumped instantly to exchanges
XT drama seems finished and bitcoin started recovering price
XT drama seems finished and bitcoin started recovering price
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/
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 ..
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.
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 ..
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