US Marshals are selling 50,000 bitcoins soon

medUSA

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Quote from: bf4btc on March 10, 2015, 04:27:40 AM

Think about it do you think guys with millions to invest in bitcoin know what they are doing? I believe they do so they had plenty of notice that the auction was taking place weeks before it happened when the price was low 200's, they could have easily created buy walls across the top few exchanges from then they would have had the coins at market or below. nobody in their right mind would pay over the market price when they do not need to, it was under but we just do not know how much. 230-240

Why was the price in the low $200s before the auction?

The bidders were encouraging dumping (may be they dump some themselves) to drive the market rate down so they can bid lower. They are not going to send millions to shady exchanges to buy coins, they cannot send millions into China to buy at Chinese exchanges. There are only a couple of exchanges they can bid for coins.

Think about the "market rate" of those exhanges if they buy 50,000btc, even in small batches. Bidding Marshall coins at market rate is safe and a good price. Think about it.

Remember remember the 5th of November

legendary

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Reverse engineer from time to time

Can I buy one US marshal, as per the thread title?

Joke aside, I am glad they were bought at/above market price.

bf4btc

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Quote from: medUSA on March 10, 2015, 04:17:27 AM

Quote from: ?? on ??

PS: https://bitcoinmagazine.com/19512/us-marshals-auction-participant-price-not-significantly-market/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+%28Bitcoin+Magazine%29

Thanks for the link.

Quote

According to Kardashev Capital, whose bid of $221.51 per bitcoin was approximately 17 percent under the market value of the coins as of the close of bidding on Thursday, it did not win any lots. “While we’re disappointed to learn that we weren’t a winning bidder, I’m glad to hear that the bitcoins sold closer to or even above market price,” said Kardashev Capital partner Greg Gum.

They bid well below market price and they are disappointed? I believe the winning bids are at or above market price at the time. Those who didn't win any bids could be buying from exchanges. Bitcoin price is up since the auction, we are around $290 now.

Where are those newbie spammers who "predicted" a dump after the auctions?

Saying they paid over market price is kind of like the guys who said it would dump hard after the auction, both are untrue. Think about it do you think guys with millions to invest in bitcoin know what they are doing? I believe they do so they had plenty of notice that the auction was taking place weeks before it happened when the price was low 200's, they could have easily created buy walls across the top few exchanges from then they would have had the coins at market or below. nobody in their right mind would pay over the market price when they do not need to, it was under but we just do not know how much. 230-240

medUSA

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Quote from: ?? on ??

PS: https://bitcoinmagazine.com/19512/us-marshals-auction-participant-price-not-significantly-market/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+%28Bitcoin+Magazine%29

Thanks for the link.

Quote

According to Kardashev Capital, whose bid of $221.51 per bitcoin was approximately 17 percent under the market value of the coins as of the close of bidding on Thursday, it did not win any lots. “While we’re disappointed to learn that we weren’t a winning bidder, I’m glad to hear that the bitcoins sold closer to or even above market price,” said Kardashev Capital partner Greg Gum.

They bid well below market price and they are disappointed? I believe the winning bids are at or above market price at the time. Those who didn't win any bids could be buying from exchanges. Bitcoin price is up since the auction, we are around $290 now.

Where are those newbie spammers who "predicted" a dump after the auctions?

CIYAM

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It would be quite funny if the sale went to an address with the prefix 1USA and then was immediately transferred to 1FUSA...

camouflage

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But does the hype died down already?
http://bitforum.info/t/bitcoin-price-drops-again-hype-from-us-marshals-auction-did-not-help/331

networthsigns

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This is bad if they guy dumps it !
Though i would say buying from them in the first place is more worse

haploid23

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I'm betting the government won't even pay taxes to themselves after selling these. IRS is a separate branch than USMS (just like how FINCEN sees bitcoins completely different than the IRS does), but they completely exempt from it, while anyone else selling this amount would be required to pay uncle Same or else jail time.

Remember remember the 5th of November

legendary

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Reverse engineer from time to time

Quote from: Gladdy on February 18, 2015, 03:09:26 PM

that is a lot of BTC on the supply side that add to the market. If the demand is weak, expect a big drop in BTC prices maybe to $150 or so.

Don't forget the various hacks that occurred totalling 10-15k btc as well.

arvindr

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At what cost are the bidders able to buy these coins at during the auction ?

Gronthaing

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Quote from: Kprawn on February 25, 2015, 01:30:09 AM

Your Subject is wrong Grin

----> US Marshals for sale: 50,000 bitcoins

So does that mean... I can buy 1 or 10 US Marshals for 50,000 bitcoins? ..... A better title could have been.. "US Marshals are selling 50,000 bitcoins soon"

Back to the topic Wink

..... It is a good opportunity for a big investor to grab a few possibly cheaper coins.... I hope this person is a hoarder and bitcoin entrepreneur.

If it gets dumped on exchanges in one sell off after the auction... it would push down the price. Sad

No one is going to pay a premium for the coins to lose money right after. But I agree on the title. Thought exactly the same thing. Imagined it was related to the malware the other guys got hit with.

Kprawn

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Your Subject is wrong Grin

----> US Marshals for sale: 50,000 bitcoins

So does that mean... I can buy 1 or 10 US Marshals for 50,000 bitcoins? ..... A better title could have been.. "US Marshals are selling 50,000 bitcoins soon"

Back to the topic Wink

..... It is a good opportunity for a big investor to grab a few possibly cheaper coins.... I hope this person is a hoarder and bitcoin entrepreneur.

If it gets dumped on exchanges in one sell off after the auction... it would push down the price. Sad

Ingatqhvq

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The price can't rise too much before all this coins be sell.

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: bitcool on February 25, 2015, 12:08:42 AM

So after this 50K, how many more SR coin left at USMS?

44K(13K from same batch and 30K from some other place they took(don't remember) )

RedhatCAT

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Quote from: bryant.coleman on February 24, 2015, 11:51:41 PM

Quote from: Gladdy on February 18, 2015, 03:09:26 PM

that is a lot of BTC on the supply side that add to the market. If the demand is weak, expect a big drop in BTC prices maybe to $150 or so.

Not sure about that. During the last auction, the coins were sold at a premium when compared to the market price. I think this time also, that will be the case.

What are you talking about? The selling price for the bitcoin that was sold for either of the two auctions was not publicly disclosed. Additionally when a seller is trying to sell a large amount of an asset like this it will pretty much always sell at a discount

tyrexs

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i think this time end of bitcoin, auction 50000 bitcoin will efect to bitcoin price..

bitcool

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Live and enjoy experiments

So after this 50K, how many more SR coin left at USMS?

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: bryant.coleman on February 24, 2015, 11:51:41 PM

Quote from: Gladdy on February 18, 2015, 03:09:26 PM

that is a lot of BTC on the supply side that add to the market. If the demand is weak, expect a big drop in BTC prices maybe to $150 or so.

Not sure about that. During the last auction, the coins were sold at a premium when compared to the market price. I think this time also, that will be the case.

Even if takes a dip , that will be a great chance to buy , i can't possibly bid in that as the requirements are so high
And btc will recover soon anyway

bryant.coleman

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Quote from: Gladdy on February 18, 2015, 03:09:26 PM

that is a lot of BTC on the supply side that add to the market. If the demand is weak, expect a big drop in BTC prices maybe to $150 or so.

Not sure about that. During the last auction, the coins were sold at a premium when compared to the market price. I think this time also, that will be the case.

RedhatCAT

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Quote from: Gitju on February 18, 2015, 02:25:45 PM

There are 50,000 bitcoins for sale from the Ross William Ulbricht case.

Whoever needs them just register at
http://www.usmarshals.gov/assets/2015/dpr-february-auction/
to become a legitimated bidder.

What I miss in the whole registration process is a point where a bidder has to make a photo of himself holding a sheet of paper with #usabtcauction on it

What are you talking about Huh

this is not at all part of the process LOL. All that someone needs to do is is submit the deposit, registration form and a copy of government issued identification.

What I find comical about the process is this:

Quote

The USMS will not transfer bitcoins to an obscene public address, a public address apparently in a country restricted by the Office of Foreign Assets Control (OFAC), a public address apparently associated with terrorism, other criminal activities, or otherwise hostile to the United States

It looks like someone can't use a vanity address that is "obscene"

I also am not sure how the USMS is going to determine that a public address is "located" in a specific country that is restricted by OFAC. This statement makes me think they don't really understand how bitcoin works Grin

Topic: US Marshals are selling 50,000 bitcoins soon (Read 2375 times)