Bitcoin Forum

Hello all,

This is my first foray into this part of the forum. I am a bit terrified :)

But nevertheless, here is my take on the proposed FBI selloff, assuming they get around to it in 2014, given the tax situation.

I think the FBI auction will be an invite-only affair. The FBI will want rid of Bitcoins, but they'll still try to capitalise on what they see as a momentary internet phenomenon.

So we'll have alot of suits, with serious buying power, bidding on something that the FBI will struggle to explain the worth of. Not all the suits will be ignorant, and the prices will be low - very low in comparison to the current market.

Some will dump. This is inevitable. This may briefly drive down the price.

More will save them, I think. And it's what the savers do that will determine the market impact.

If someone powerful gets hold of alot of BTC and can put his/her weight behind them to drive them back THROUGH the commercial system, BTC could all of a sudden have real, serious, high-street presence. Imagine if the Gap started taking BTC, for example?

The price would rocket. The suits who dumped would have made money, sure. But the people who are still in it for the long run could end up the real winners.

Thoughts?

Rit./

remember all: none of this matters if you are a believer in dogecoin.

Just so happens I'm not. Silly me, maybe ;) hehe.

that you should be


wrong forum! this one is about out-of-your-ass guesses and lines on graphs, thoughts are ridiculed!

As for auction, I think the interest in obtaining large quantities of bitcoin without going through some foreign exchanges is far in excess of 25 million dollars. So the price might move up during the auction itself, easily 10-20% premium over exchange rates for convenience and security. What would happen next would depend on who the winning bidder is. We probably won't know unless he is some well-known figure and decides to go public on the purchase. Warren would've been nice ;)

You are doing well :)

I don't know much details about how the interest is among large buyers, but the my impression is that it will not be any problem selling the coins. Max Keiser have given an offer on live TV, and the whale called Loaded writing on these forums from time to time has also communicated that there are interested buyers. Getting so large an amount of bitcoins in one sell will probably be a very rare event, and the interested buyers know that very well. It is not given that the price will be far below market price since there is no way of buying this amount of bitcoins of exchanges for a reasonable price.
I have no fear that these coins will ever be dumped at any of the now operating exchanges. When real wall street type exchanges appear with volumes (of dollars) far exceeding anything present now they might be part of that perhaps.

Ah sorry! The guess is completely out of my ass, but I suck at graphs :( I knew I wouldn't fit in! Oh woe is me!!

What I think will happen is some rich buckos will end up with BTC they don't know how to spend, This will not sit well, so I can see the power-that-be opening channels for them to blow their newly purchased wealth in. Ofc casinos will be drooling over this....anyone want to take me on as partner? I promise I have plenty of gambling strategic investing experience!

Rit./

I would invest in satellite recycling or rocks around Saturn ...   

http://www.weirdwarp.com/wp-content/uploads/2011/10/Computer-Image-of-Space-Junk-in-Orbit.jpg

I have a business plan for that too!! Just send all your bitcoins to my address: ChAnCer1234DefiniLyLEGIt!!! :D

The FBI will sell the coins in lots on a badly-coded website that looks like it was made in 1998.  They sell drug lords' cars and even houses on similar sites.  There will be no "invite-only" nonsense.  There is a method that they use for this and I am 99.9% sure they will follow the same method.

There will be bids on the lots and I assume that if you win they will transfer them to your address (usually you have to arrange your own shipping, but in this case it seems pretty simple).

They'll be bought by second market or other financial fat cats.  It won't affect regular people.

exactly, and the buyers will more sodl than sodl