Bitcoin Forum

What is your thoughts, what could be the possible effect on BTC value when the auction of silkroads 27k BTC account will be complete at 27th of jun. ?

I think the identity of some buyers will shock the system and you will see Wall Street move in with a timely ETF release.

I believe the 27k btc sale will have no effect at all and the drop last week was just a panic fueled catalyzing of an overdue market retracement from the 450-680 rally, fueled by multiple fud sources.

If the price average for the 3k blocks is made public then I feel pretty confident it will move the market.

Do you think 27k btc is to little amount to effect the market ?

If it is sold privately it probably does not affect the market.  Now if it is dumped on Bistamp then it affects the market temporarily for a few weeks.

I don't think they will disclose the price, at least not any time soon.

Actually I hope it will affect the market as I need some more drops to buy :)

Everyone hope on his own, i hope the buyer of these coins will be smart enough to hold :)

Will we get to know the buyers names? And how much they pay?

I don't know how this works.

Only if they themselves publicise it most likely. I'm not sure the marshals care about letting the rest of the world know.

Those identities have already been accidently leaked by FBI. It was real interesting to see BNP Paribas in there, finally big bank boys trying to get in!
See http://www.coindesk.com/list-possible-silk-road-bitcoin-bidders-allegedly-leaked-us-marshals/

It will also be interesting if an ETF is launched as to whether it is shortable, that could in fact stabilise a lot of the bitcoin volatility.

1. it's a public auction so the selling prices will be made available
2. the names on the email re: SR Coins were from people who asked a question, not necessarily bidders

You'd have to be really stupid not to hold for at least a year for lower capital gains taxes.

That depends on how much you make trading. A good bitcoin daytrader or swingtrader can increase his coin coint 1000%+ per year so the tax is well worth it.

+1

Only applicable if the buyer is from USA.

Most of the people here underestimate the more indirect influence that Tor drug markets have with bitcoin.
There is a high possibility that there could be a single successful drug dealer, who still owns 1mil. or more BTC.
This will distance serious investors, who are not fond of unknown factors like that. The lack of transparency, together with criminal history, will make the investment in bitcoin extremely risky. What guarantee would anyone have that someone wouldn't dump his 1mil. or just even 100k coins in one fast sweep and cash out larger investments made? Absolutely non. This risk could only be somehow managed when most of the bitcoin holdings would be publicly claimed, together with future intentions, but, I don't see that ever happening.
Smarter investors need transparency and predictable factors in their investments. Taking blind risks is for greedy youngsters who choose to depend on their luck, not insight.