Author

Topic: So whats the verdict about the auction ? (Read 2945 times)

sr. member
Activity: 418
Merit: 252
Proud Canuck
December 09, 2014, 03:58:44 PM
#40

So, to pull back to the OPs question for a moment:

http://www.coindesk.com/bitcoin-investment-trust-wins-48000-btc-us-marshals-bitcoin-auction/

So there were two winners, Draper with 2000 coins and BIT syndicate with the other 48000.  Divided by 104 bidders in the syndicate, averages to ~461 coins per person, if they all contributed equally.  And of course nobody knows what the individuals will do with those coins, but its unlikely that they all would dump them all at once, even if they did get them for below marked price.

You mean Silbert's group... the guys that underbid the market by $200 last auction... won. LOLOLOLOLOLOLOL... "bullish as fuck" Bahahahahahaha

Yup, Silbert's group.  Where did you see about the amount they bid last time?  I didn't think there were any confirmations on that?

Silbert posted it on his twitter feed last time after the auction. It was one of the price points people referenced in trying to assess what Draper's bid was. I want to say they bid $463 last time, but I'm honestly too lazy to troll through his twitter feed to find it.

Well, I tried to find some record of it and couldn't.  References to the last auction were https://twitter.com/barrysilbert/status/482951689381904384 and https://twitter.com/barrysilbert/status/483692873855299584.  If you (or anyone) has a definite link, I would like to see it.  Because I have seen no actual bid amounts anywhere, winning or otherwise.

Remember a couple of things:
- Silbert's syndicate is a group of individual bidders;
- Last auction they lost, so if they intended to win maybe they learned something (to bid higher)
- Highest bidder last time around was Draper, who really wanted these coins and was outbid (see https://www.coinprices.io/articles/december-4th-usms-bitcoin-auction-hub).  That implies the winning bid price was not likely low.

Nothing to indicate that the current auction results were NOT "bullish as fuck".
full member
Activity: 238
Merit: 100
December 09, 2014, 12:42:42 PM
#39

So, to pull back to the OPs question for a moment:

http://www.coindesk.com/bitcoin-investment-trust-wins-48000-btc-us-marshals-bitcoin-auction/

So there were two winners, Draper with 2000 coins and BIT syndicate with the other 48000.  Divided by 104 bidders in the syndicate, averages to ~461 coins per person, if they all contributed equally.  And of course nobody knows what the individuals will do with those coins, but its unlikely that they all would dump them all at once, even if they did get them for below marked price.

You mean Silbert's group... the guys that underbid the market by $200 last auction... won. LOLOLOLOLOLOLOL... "bullish as fuck" Bahahahahahaha

Yup, Silbert's group.  Where did you see about the amount they bid last time?  I didn't think there were any confirmations on that?

Silbert posted it on his twitter feed last time after the auction. It was one of the price points people referenced in trying to assess what Draper's bid was. I want to say they bid $463 last time, but I'm honestly too lazy to troll through his twitter feed to find it.
sr. member
Activity: 418
Merit: 252
Proud Canuck
December 09, 2014, 12:39:43 PM
#38

So, to pull back to the OPs question for a moment:

http://www.coindesk.com/bitcoin-investment-trust-wins-48000-btc-us-marshals-bitcoin-auction/

So there were two winners, Draper with 2000 coins and BIT syndicate with the other 48000.  Divided by 104 bidders in the syndicate, averages to ~461 coins per person, if they all contributed equally.  And of course nobody knows what the individuals will do with those coins, but its unlikely that they all would dump them all at once, even if they did get them for below marked price.

You mean Silbert's group... the guys that underbid the market by $200 last auction... won. LOLOLOLOLOLOLOL... "bullish as fuck" Bahahahahahaha

Yup, Silbert's group.  Where did you see about the amount they bid last time?  I didn't think there were any confirmations on that?
full member
Activity: 238
Merit: 100
December 09, 2014, 12:38:31 PM
#37

So, to pull back to the OPs question for a moment:

http://www.coindesk.com/bitcoin-investment-trust-wins-48000-btc-us-marshals-bitcoin-auction/

So there were two winners, Draper with 2000 coins and BIT syndicate with the other 48000.  Divided by 104 bidders in the syndicate, averages to ~461 coins per person, if they all contributed equally.  And of course nobody knows what the individuals will do with those coins, but its unlikely that they all would dump them all at once, even if they did get them for below marked price.

You mean Silbert's group... the guys that underbid the market by $200 last auction... won. LOLOLOLOLOLOLOL... "bullish as fuck" Bahahahahahaha
sr. member
Activity: 418
Merit: 252
Proud Canuck
December 09, 2014, 12:24:34 PM
#36

So, to pull back to the OPs question for a moment:

http://www.coindesk.com/bitcoin-investment-trust-wins-48000-btc-us-marshals-bitcoin-auction/

So there were two winners, Draper with 2000 coins and BIT syndicate with the other 48000.  Divided by 104 bidders in the syndicate, averages to ~461 coins per person, if they all contributed equally.  And of course nobody knows what the individuals will do with those coins, but its unlikely that they all would dump them all at once, even if they did get them for below marked price.
full member
Activity: 126
Merit: 100
December 09, 2014, 02:01:54 AM
#35
I wouldn't underestimate Tim Draper...you can hear his balls clanging miles away.   Shocked

No sir that is the change falling out of his pockets you are hearing... He is loosing millions again and again everyday
legendary
Activity: 1267
Merit: 1000
December 08, 2014, 07:45:07 PM
#34
I wouldn't underestimate Tim Draper...you can hear his balls clanging miles away.   Shocked
newbie
Activity: 57
Merit: 0
December 08, 2014, 01:56:15 PM
#33
Now that the bitcoins from the auction are being distributed, question is if some of the buyers decide to dump
on exchanges, would they on mainland China ones? I think not, probably they would dump on Western exchanges like Bitstamp.
Which Bistamp needs to do some catching up to the Chinese, in order to regain it's real name of Bearstamp. Grin

Are you really that stupid?

1. Pay over market value for BTC
2. Sell BTC for market value
3. Profit Huh?

legendary
Activity: 2170
Merit: 1094
December 08, 2014, 01:37:56 PM
#32
Now that the bitcoins from the auction are being distributed, question is if some of the buyers decide to dump
on exchanges, would they on mainland China ones? I think not, probably they would dump on Western exchanges like Bitstamp.
Which Bistamp needs to do some catching up to the Chinese, in order to regain it's real name of Bearstamp. Grin
hero member
Activity: 521
Merit: 500
December 08, 2014, 01:04:39 PM
#31
For reference, we are talking about this guy:



Looks like someone who has smoked too much Grin

Come on, buy at Bitstamp and pump the price.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
December 08, 2014, 11:02:12 AM
#30
Looks like somebody who isn't in the right state of mind...

Yes he looks like a deluded bitcoin fan boy. ...With a billion dollars and tens of thousands of bitcoin. What a loser, huh?

By the way, how successful have you been with bitcoin? Considering Drapers state of mind and your ability to see future prices, you must have 2 or 3 billion, right?
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
December 08, 2014, 10:53:35 AM
#29
For reference, we are talking about this guy:



He doesn't always dress as sharp as that.

Here's a picture of him dressed like a doofus.



 Grin
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
December 08, 2014, 10:36:44 AM
#28
The coins have not been distributed yet.
full member
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
December 08, 2014, 10:21:18 AM
#27
I'm guessing Pantera got zero since they said they bid under market price, if Draper only ended up with 2,000

The greed is strong in this one.

 Grin it's called structured market analysis.
sr. member
Activity: 406
Merit: 250
December 08, 2014, 10:18:26 AM
#26
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably. Now he has more information to decide on his bids for the next auction, and he's not likely to share that information. I would guess he placed his bids just below market around $350, to bid competitively and still have a chance at getting some coins which he succeeded at. But it could also be way higher or lower, there's not much to base it on only Draper knows.


i agree, that would actually make alot of sense if you are thinking about the next batch of coins that could be auctioned.
but then i'm not sure what to think about him saying to buy on the market now, because he needs more btc for boost vc.

I think the price he bid was below market price.
full member
Activity: 126
Merit: 100
December 08, 2014, 01:03:44 AM
#25
Looks like somebody who isn't in the right state of mind...
hero member
Activity: 798
Merit: 1000
December 07, 2014, 09:01:36 PM
#24
For reference, we are talking about this guy:



That's clearly not a guy who would ever overdo anything  Cheesy
full member
Activity: 154
Merit: 100
playing pasta and eating mandolinos
December 07, 2014, 08:56:13 PM
#23
For reference, we are talking about this guy:

hero member
Activity: 521
Merit: 500
December 07, 2014, 04:10:48 PM
#22

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.
Seriously?
Draper won first auction (all 30,000 coins) and paid more than market price. Now he won only 2,000 coins of 50,000. Make your own conclussions...

I didnt know details like that were revealed.

Conclusion: He overestimated earlier and underestimated now.
legendary
Activity: 2800
Merit: 1127
December 07, 2014, 04:03:41 PM
#21

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.
Seriously?
Draper won first auction (all 30,000 coins) and paid more than market price. Now he won only 2,000 coins of 50,000. Make your own conclussions...

Where you got the info he paid above market?

As far I remember he said he didn't pay above market prices and refused to say more about the auction price
legendary
Activity: 1176
Merit: 1010
Borsche
December 07, 2014, 01:18:14 PM
#20
*throws feces*

Because that's what people who think long-term do. Tim is no slouch when it comes to taking positive-expectation long-term positions.

Please stop quoting the crazy monkey, thanks Smiley

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably.

Yeah he probably adjusted his auction strategy this time; also I believe the fact that somebody got 9 out of 10 blocks above his price means there was more than one buyer, probably several small entities; otherwise the number 9 makes no sense.
legendary
Activity: 2002
Merit: 1040
December 07, 2014, 11:51:55 AM
#19
^ Such anger, much fear ^
full member
Activity: 126
Merit: 100
December 06, 2014, 11:12:46 PM
#18
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably. Now he has more information to decide on his bids for the next auction, and he's not likely to share that information. I would guess he placed his bids just below market around $350, to bid competitively and still have a chance at getting some coins which he succeeded at. But it could also be way higher or lower, there's not much to base it on only Draper knows.


i agree, that would actually make alot of sense if you are thinking about the next batch of coins that could be auctioned.
but then i'm not sure what to think about him saying to buy on the market now, because he needs more btc for boost vc.

He is full of shit and trying to bring the bulls out since he is down millions of dollars... people who still pay attention to him are idiots!
legendary
Activity: 2464
Merit: 1145
December 05, 2014, 07:54:19 PM
#17
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably. Now he has more information to decide on his bids for the next auction, and he's not likely to share that information. I would guess he placed his bids just below market around $350, to bid competitively and still have a chance at getting some coins which he succeeded at. But it could also be way higher or lower, there's not much to base it on only Draper knows.


i agree, that would actually make alot of sense if you are thinking about the next batch of coins that could be auctioned.
but then i'm not sure what to think about him saying to buy on the market now, because he needs more btc for boost vc.
full member
Activity: 126
Merit: 100
December 05, 2014, 07:45:39 PM
#16
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably. Now he has more information to decide on his bids for the next auction, and he's not likely to share that information. I would guess he placed his bids just below market around $350, to bid competitively and still have a chance at getting some coins which he succeeded at. But it could also be way higher or lower, there's not much to base it on only Draper knows.

Sounds like you have no idea how marshal auctions work... we all go in knowing we will pay way less than market price OTHERWISE theyre are plenty other ways to get bitcoin over the counter
legendary
Activity: 1722
Merit: 1004
December 05, 2014, 07:43:11 PM
#15
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

LMFAO What idiot would double down when you are already down millions??? You idiots really have faith no matter what. Good luck to all you "get rich quick" idiots


Because that's what people who think long-term do. Tim is no slouch when it comes to taking positive-expectation long-term positions.

The classic weak-minded play is to buy more and more when price is rising, and/or sell more and more (or fail to buy more) when the price is falling. Long-term investors typically spend a lot of due-diligence time building their thesis, then decisively build their positions while the price is below what they consider net-present-value. If the price drops, they'll often consider that a happy opportunity to buy more if fundamentals have either stayed the same or improved.

legendary
Activity: 1722
Merit: 1004
December 05, 2014, 07:37:45 PM
#14
He also said he'll have to buy more on the open market now:

Quote
“I will have to buy some more Bitcoin on the open market to fulfill my commitment to the new batch of Boost companies,” Mr. Draper said in an email. Draper Associates had teamed up with Boost VC, the Bitcoin start-up accelerator founded by his son, Adam Draper, to invest 300 Bitcoins in every company that works with Boost.
http://dealbook.nytimes.com/2014/12/05/venture-capitalist-tim-draper-wins-small-piece-of-bitcoin-auction/?_r=0
legendary
Activity: 1246
Merit: 1000
December 05, 2014, 07:10:36 PM
#13
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably. Now he has more information to decide on his bids for the next auction, and he's not likely to share that information. I would guess he placed his bids just below market around $350, to bid competitively and still have a chance at getting some coins which he succeeded at. But it could also be way higher or lower, there's not much to base it on only Draper knows.
full member
Activity: 126
Merit: 100
December 05, 2014, 07:10:04 PM
#12
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

LMFAO What idiot would double down when you are already down millions??? You idiots really have faith no matter what. Good luck to all you "get rich quick" idiots
legendary
Activity: 1029
Merit: 1000
December 05, 2014, 07:09:05 PM
#11

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.
Seriously?
Draper won first auction (all 30,000 coins) and paid more than market price. Now he won only 2,000 coins of 50,000. Make your own conclussions...

Conclusion, he wanted to make sure he lowered his price per coin & since there was only 11 bidders you can see they all easily paid very well below market value
Before auction ends you know shit. How much bidders, whats their price. You only know that you want to win. Becuse you won prevoius, you have experience.... You know that yours opponents know the same... Make a story continous... I say bullish...
full member
Activity: 238
Merit: 100
December 05, 2014, 06:41:45 PM
#10
I'm guessing Pantera got zero since they said they bid under market price, if Draper only ended up with 2,000

The greed is strong in this one.
legendary
Activity: 1442
Merit: 1188
December 05, 2014, 06:32:08 PM
#9
I'm guessing Pantera got zero since they said they bid under market price, if Draper only ended up with 2,000
legendary
Activity: 2464
Merit: 1145
December 05, 2014, 06:27:04 PM
#8
the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...
full member
Activity: 126
Merit: 100
December 05, 2014, 06:23:14 PM
#7

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.
Seriously?
Draper won first auction (all 30,000 coins) and paid more than market price. Now he won only 2,000 coins of 50,000. Make your own conclussions...

Conclusion, he wanted to make sure he lowered his price per coin & since there was only 11 bidders you can see they all easily paid very well below market value
legendary
Activity: 1029
Merit: 1000
December 05, 2014, 06:06:38 PM
#6

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.
Seriously?
Draper won first auction (all 30,000 coins) and paid more than market price. Now he won only 2,000 coins of 50,000. Make your own conclussions...
hero member
Activity: 521
Merit: 500
December 05, 2014, 05:31:30 PM
#5
we won't know price... Unless the person is kind enough to tell us! Meaning it will never happen.


wow typical... I thought he would try to buy all of them just to lower his cost price. Looks like he knows better, he knows he will have to sell soon. I wonder who bought most since only 11 bidders

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.
full member
Activity: 126
Merit: 100
December 05, 2014, 05:28:02 PM
#4
we won't know price... Unless the person is kind enough to tell us! Meaning it will never happen.


wow typical... I thought he would try to buy all of them just to lower his cost price. Looks like he knows better, he knows he will have to sell soon. I wonder who bought most since only 11 bidders
newbie
Activity: 28
Merit: 0
December 05, 2014, 05:27:15 PM
#3
how many each coin ?
hero member
Activity: 622
Merit: 500
newbie
Activity: 28
Merit: 0
December 05, 2014, 05:01:53 PM
#1
Sorry for this noobish question. How can we know the news ?
Kind regards.
Jump to: