He is not going to release the price. He is also going to do very good things with the bitcoin he purchased.
I don't see the reason behind all this secrecy.
Topic: Silkroad seized bitcoins to impact price? (Read 4362 times)
I don't see the reason behind all this secrecy.
He is not going to release the price. He is also going to do very good things with the bitcoin he purchased.
I don't see the reason behind all this secrecy.
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
Who are we talking about anyway? Or is the identity kept secret?
You may want to read the following 2 coindesk articless.
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/
http://www.coindesk.com/silk-road-auction-winner-tim-draper-world-embrace-bitcoin/
The winner is Tim Draper, but I don't see him talking about the price.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
Who are we talking about anyway? Or is the identity kept secret?
You may want to read the following 2 coindesk articless.
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/
http://www.coindesk.com/silk-road-auction-winner-tim-draper-world-embrace-bitcoin/
The winner is Tim Draper, but I don't see him talking about the price.
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
Who are we talking about anyway? Or is the identity kept secret?
You may want to read the following 2 coindesk articless.
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/
http://www.coindesk.com/silk-road-auction-winner-tim-draper-world-embrace-bitcoin/
The winner is Tim Draper, but I don't see him talking about the price.
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
Who are we talking about anyway? Or is the identity kept secret?
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
How do you know he paid over 700? I haven't been able to find that info.
We know who bought the coins check the press section lol
Looks like all of the 30k BTC was scooped up by one buyer. They did not disclose the buyer. I think there is a good chance that it was the US gov't itself that purchased the coins. There is literally no accountability at the highest level, so it is very feasible that if in fact it was the US gov't that bought the coins, that they did not even have the highest bid... I find it hard to believe that Second Market was outbid on every block
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
Long term investor...BUY & HOLD...
I'm enough worried about price of Bitcoin because the news that U.S. Government wants to sell 30.000 BTC yesterday evening had drop the price of 60$ !
So, only time will give us the answer !
So, only time will give us the answer !
There is only 1 winner on the auction. He paid over 700 usd per coin, well above market rate.
Of course it impacted the price but, 630 So far...
Bitcoin still have red numbers, before the auction i saw a $700 peak so, let's see what happens in a few days
Bitcoin still have red numbers, before the auction i saw a $700 peak so, let's see what happens in a few days
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
It's impossible to buy 3M$ woth of BTC from the exchanges without creating a "huge" price spike.
And it's a "good thing" that same works in another way. Whoever buy that BTC can not sell it all at once on exchanges without loosing HUGE amount of money. Best they can do is set up sell wall that will hold price at some max for long time (untill it all sells). Noone is stupid enough to dump large sum of coins on really shallow exchanges and loose his investment.
They would likely not buy the bitcoin simply to sell it on an exchange via a "dump" although they may attempt to do an arbitrage.
I would think that anyone looking to use that mich liquid cash to buy that big of a chunk of BTC,is doing so as a medium to long term investment. With that being said, I think it is highly unlikely that these coins get dumped back on the open market
It's impossible to buy 3M$ woth of BTC from the exchanges without creating a "huge" price spike.
And it's a "good thing" that same works in another way. Whoever buy that BTC can not sell it all at once on exchanges without loosing HUGE amount of money. Best they can do is set up sell wall that will hold price at some max for long time (untill it all sells). Noone is stupid enough to dump large sum of coins on really shallow exchanges and loose his investment.
All the people saying that a government auction of Silk Road seized Bitcoins won't affect the price of Bitcoin are wrong.
They assume that the people buying Bitcoin at government auction would not have bought Bitcoins otherwise. This is almost certainly false in the majority of cases. They are mostly people who want to buy Bitcoins, and decide to buy them at the government auction instead of an exchange. This means fewer bidders on the auctions, which will drive down the price.
They assume that the people buying Bitcoin at government auction would not have bought Bitcoins otherwise. This is almost certainly false in the majority of cases. They are mostly people who want to buy Bitcoins, and decide to buy them at the government auction instead of an exchange. This means fewer bidders on the auctions, which will drive down the price.
First of all if the US had not seized them they would be on the market under sell orders pushing the price down "right now" so this "if" logic is pretty irrelevant.
Secondly I can see so many reasons why a whale would buy from a auction a not from a exchange. It's impossible to buy 3M$ woth of BTC from the exchanges without creating a "huge" price spike. Not to talk about 18M$
. So an auction is an easy way to get hold of a big chunk of BTC at current market prices.It's also way easier to pay those sums with a simple wire transfer than it is to get 3M$ into an exchange.
I wouldnt be suprised if they are sold above market price
Historical event with a lot of eyes on it. Some whales could easily buy it up with a little premium at which the market will almost certainly follow. sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
All the people saying that a government auction of Silk Road seized Bitcoins won't affect the price of Bitcoin are wrong.
They assume that the people buying Bitcoin at government auction would not have bought Bitcoins otherwise. This is almost certainly false in the majority of cases. They are mostly people who want to buy Bitcoins, and decide to buy them at the government auction instead of an exchange. This means fewer bidders on the auctions, which will drive down the price.
They assume that the people buying Bitcoin at government auction would not have bought Bitcoins otherwise. This is almost certainly false in the majority of cases. They are mostly people who want to buy Bitcoins, and decide to buy them at the government auction instead of an exchange. This means fewer bidders on the auctions, which will drive down the price.
I agree on this point which is why I was wondering if the sale price will become public. If it does become, public and it is much lower than current market rate, it could cause a correction in the marketplace.
If the price is lower then the market rate then the buyers would have a greater incentive to attempt to arbitrage the market.
Did you see the article that said the Marshals accidentally leaked the potential auction bidders list? Pretty much well to do people and long term investor types. Nobody who gets these auction coins will be dumping them on an exchange any time soon.
What about the people that lose the auction? They may decide they still want bitcoins and start buying off exchanges.
That would push the price upward. But it's unlikely to happen. No one will drop 3M USD on a market.
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