Third Auction For Ulbricht’s Coins, Scheduled - page 2.

Swordsoffreedom

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Quote from: kolloh on February 20, 2015, 09:50:19 AM

It would take quite awhile for him to recover those coins I think.

Same opinion doing it legit would be a challenge for Ross
Two days till March 5th will need to keep track
The auction will happen from 8am to 2pm EST, and preregistration is needed for those who want to participate. Just like the 1st and 2nd auction, bitcoins will be auctioned per 2000 or 3000 block.

Baghead

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Quote from: gentlemand on March 03, 2015, 03:07:46 PM

Quote from: Thalke on February 27, 2015, 10:16:10 AM

This is going to crash the price hard...

It had negligible effects last time. The first auction certainly caused some willies but ultimately turned out to be a non event. The market has gotten used to the idea now.

Agree there is no crash coming because of the auction, the auctioned coins will be sold to exchange or a investor who is not in it for a quick few dollars profit but looking long term.

gentlemand

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Quote from: Thalke on February 27, 2015, 10:16:10 AM

This is going to crash the price hard...

It had negligible effects last time. The first auction certainly caused some willies but ultimately turned out to be a non event. The market has gotten used to the idea now.

RedhatCAT

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Quote from: ShintoshiBTC on March 03, 2015, 11:16:12 AM

Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

Is the present surge because of this?

I would say probably not. I would say that the present surge is likey due to the WSJ article discussing the potential for bitcoin (which happens to be on the front page).

Generally speaking the price of bitcoin tends to fall ahead of these auctions because of the fact that additional supply will soon enter into the market that was not previously there

deluxeCITY

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Quote from: ShintoshiBTC on March 03, 2015, 11:16:12 AM

Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

Is the present surge because of this?

That is not beyond the realm of possibility imo but not sure it would be because of this, they stole the coin in the first place not sure they care about the price difference of a few dollars.

To answer about Ulbricht i am not sure he would easily get them back but in the end if he was doing what he done first time around with better security procedures then i see no reason why he would not make a large amount of them back.

What would be the point though he was to greedy and could not leave with tens of millions the btc was wasted on him.

ShintoshiBTC

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Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

Is the present surge because of this?

havecoch

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Quote from: Get.BTC.Now on March 01, 2015, 01:12:43 AM

Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

How much more btc does ulbricht have on his account?

Nobody knows how much he has in his paper wallets or hidden wallets. But he had 150 thousand, on his system which is being auctioned.

Get.BTC.Now

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Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

How much more btc does ulbricht have on his account?

Q7

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Quote from: OpenOcean on February 28, 2015, 04:58:11 AM

I think it will have a decreasing effect on the short-term price, because auctions are mainly used to clear assets ASAP, therefore the auctioneers would probably be willing to sacrifice some return for expediency in sales.

In the long-term however, it should make the price go up (IMO) because the Bitcoin auctioned off will have been accounted for and therefore represent a portion of the currency that was once used for illicitly perceived purposes which is now "cleansed" or at least marketed with the blessing of regulating and law making authorities. Psychology does play an important part in market behavior, so this is the reason for my belief.

I obviously could be wrong due to the simplistic reasoning, but if anyone disagrees or would like to add onto the opinion I'm definitely open to being proved wrong.

I agree, that will work more towards psychological effect rather than having an fundamental implications. In the long run, provided that the auctioned off coins stay put and remain in the winners possession and does not get introduced back to the market, it should be positive overall. Unless the person has another plan and decides otherwise to auction off the coins and take profit once the price has hit his target level.

Eastwind

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Quote from: OpenOcean on February 28, 2015, 04:58:11 AM

In the long-term however, it should make the price go up (IMO) because the Bitcoin auctioned off will have been accounted for and therefore represent a portion of the currency that was once used for illicitly perceived purposes which is now "cleansed" or at least marketed with the blessing of regulating and law making authorities. Psychology does play an important part in market behavior, so this is the reason for my belief.

I obviously could be wrong due to the simplistic reasoning, but if anyone disagrees or would like to add onto the opinion I'm definitely open to being proved wrong.

The clearance of the overhang is good. However, the 50,000 is too small size for the long term price of BTC.

OpenOcean

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I think it will have a decreasing effect on the short-term price, because auctions are mainly used to clear assets ASAP, therefore the auctioneers would probably be willing to sacrifice some return for expediency in sales.

In the long-term however, it should make the price go up (IMO) because the Bitcoin auctioned off will have been accounted for and therefore represent a portion of the currency that was once used for illicitly perceived purposes which is now "cleansed" or at least marketed with the blessing of regulating and law making authorities. Psychology does play an important part in market behavior, so this is the reason for my belief.

I obviously could be wrong due to the simplistic reasoning, but if anyone disagrees or would like to add onto the opinion I'm definitely open to being proved wrong.

vennali

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Quote from: Thalke on February 27, 2015, 10:16:10 AM

This is going to crash the price hard...

Hopefully not..lets see how it effects the price.!
The only reason it will effect the price is if the people holding the coins decide to sell it. And I doubt they would participate in the auction just to sell it.

Thalke

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This is going to crash the price hard...

Eastwind

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3600 BTC are generated every day. 50,000 BTC is just 14 days supply. Not much impact.

croato

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1BkEzspSxp2zzHiZTtUZJ6TjEb1hERFdRr

I dont think that auction can have any significant impact on price. Even if all coins would be dumped price would be back to 250ish in few days. We have stabilty and slight uptrend so I feel very optimistic about price.

pitham1

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Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

With Silk Road going down, there are a lot of competitor sites which have gained market share.
It will be tough for him to win it back, even if he is released.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: spazzdla on February 25, 2015, 03:42:09 PM

This is the worst kind of theft... using police your own taxes paid for to imprison you and steal your money..

Then they wonder why they are called pigs.

Police is there only there to enforce the law, they didnt create it, on the other hand, they do tend to bend it quite often..
I just cant wait for that auction to be done with, theres so many speculation on how it could affect the price, its anoying.

cheers

tcpperks

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Did they confiscate all of his coins, are they any large amounts lost, unaccounted for?

spazzdla

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This is the worst kind of theft... using police your own taxes paid for to imprison you and steal your money..

Then they wonder why they are called pigs.

uki

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Quote from: Gotti III on February 25, 2015, 10:02:42 AM

Quote from: angeloanggam on February 20, 2015, 06:31:44 AM

With the auction of his bitcoin coming:
http://bitforum.info/t/third-auction-for-ulbrichts-coins-scheduled/305

Do you think, Ulbricht can easily get back his coins if he is still running Silk Road right now?

I mean if he will be released right now, and start from the scratch again, how many years will it take to reach the amount of the coins he lost?

Will the hype:

1. Increase bitcoin price
2. Drop bitcoin price
3. Keep it steady

What do you think?

I think it will keep it steady, meaning no effect on the price of bitcoin.

Topic: Third Auction For Ulbricht’s Coins, Scheduled - page 2. (Read 3012 times)