Bitcoin Forum

Solid lead?   Believe it or not...  :o

1 - Pantera - $900
2 - SecondMarket - $750
3 - SecondMarket - $700
4 - DRW Trading Group - $700
5 - Coinbase - $685
6 - Rangeley Capital - $660
7 - SecondMarket - $651
8 - Coinbase - $640
9 - Matrix Capital Management - $601

http://redd.it/29geoq

900 ! lol

Too good to be true?!

It makes no sense

bidders in an auction don't bid like that.

It's like when you bid on eBay. No one bids $900 for anything except morons because if you expect it to go for around $900 someone will bid $901.23 and when you snipe $900 at the last second ebay automatically places their bid and you lose for $1.23

You're telling me a firm like pantera doesn't have a single person who's ever been outbid on eBay and still bids like my grandmother who only just found the internet

It's a blind auction, and only 1 bid allowed.  Just make your bid and hope for the best. 

There is no transparency like eBay,

Yeah, so in a blind auction you're even more likely to bid $901 ... because what if some guy bid $900 too

depends on how you look at it:) 900 seems a lot now..
not that much in a year.. they might be building a solid support for the years to come.

although.. i think the reddit post is bs hehe

I am praying this is true, but it has BS written all over it

There is no way bidders will bid in nice rounded numbers. This "leak" is most likely false. Will should know later today.

http://2.bp.blogspot.com/-1D2FR2acWZ0/UoVgi1mtPOI/AAAAAAAAQ_M/pSN4oog33GE/s1600/The+Price+is+Right.jpg
They all overbid.

Bs

its funny how many people don't get this

Yep also think it is BS that said if someone did a price snipe to make sure they won a block
Then they would be long term bulls in Bitcoin regardless of market price ha-ha

I seriously doubt it.  While I have no overabundance of faith in the USMS given they are not going to release the results information at all:

10. What information about the auction process or results will the USMS release?
 
The USMS will contact the winning and losing bidders directly. The USMS will not publicly
release any information pertaining to the auction process or results.

From: http://www.usmarshals.gov/assets/2014/bitcoins/faqs.pdf

And have not even contacted the winning and loser bidders directly yet, I doubt OP's information.

The winners will have an incentive to push up the price of BTC by suggesting they paid a high price while the losers should downplay what the prices were.  Should be interesting.

it will be funny if only the winning bidders  know what the actual price is..    they can indeed make false statements about their bidding.. 
although it would be bad for their reputation to do so..     still they can say whatever they want . 

this auction is  strange..  why all the secrecy...     why not let them bid against each other..    in the open..

Trolling thread to get all your hopes up. No real bidder will put in a bid at such organized numbers, and nearly all of them too. Btw can someone do a quick calculation on what the price would be if 30k btc were bought from the current market, assuming current price is $620?

Can someone quote rule 5? I can't copy it from my ipad. Oh never mind, it's still possible to submit multiple forms.

30k * 620 = $18,600,000  ?

Are you even aware of the type of auction this was? It was a Dutch auction - all winners paid the price of the lowest winning bid. So, even if 1 bidder offered a crazy $10,000 per coin, they would not pay that much unless all other bidders were equally crazy.

Where do you get the info about Dutch auction?

Yep 900 doesn't seem to make sense because if they only wanted 1 block, you would aim to bid in the middle.
It doesn't make sense for them to think that a $900 bid would be in the middle amongst the top bidders.

This is just someone trolling.

I think he means a Dutch oven.

Similar but very different.

I don't think it is a Dutch auction. I believe the proper term is "generalized second-price auction" a.k.a. "second item auction".

I know it is so much more fun to just make shit up and "have an opinion" but if you really want to know read this:

http://www.usmarshals.gov/assets/2014/bitcoins/faqs.pdf

And, if you are too damn lazy to read three whole pages of text:

Or a $100000.01 because well you know what if some guy bid $100000 too.

It's a blind auction. They bid what they think it's worth in relation to the amount of risk they want to take and their expectations of growth. If it's really 900 for all the blocks, it means they scoop up 30K in BTC at a price thats $300 less then the all-time high. Which is a great deal considering even at the all time high Pantera strongly believed they were only at the start of Bitcoin.

hI,
Actually when we will know the actual price of the BTC on this auction?
Are we even to know that or it will be only rumors about this?

900 is wayyyyyyyy too much and cant be true.

They might bid $900, but it doesn't mean they will pay. It could just be a shill company driving up bids.

If the prices is true, the FBI is big winner. On the other hand,it will push the price a lot.

I think he was more asking what the cost would be if you bought up all the Bitcoins currently at market until you get to 30k BTC. At this point, there is only ~2k BTC visibly liquid on exchanges at around the $620-$630 price range. When I last checked, Bitstamp's orderbook was at ~7k BTC and the price stretched to ~$750 with a total orderbook value of around $4.7M. Using an extrapolative method (using a linear-logarithmic stretch fit), I got a value of ~$25.8M yielding an average value of ~$840.

Although upon first glance $900 seems quite ludicrous, with the available liquidity, 30k at $900 is actually less crazy than it seems.

As a note, if there are more entries available in Bitstamp's orderbook, this method could be made more exact. And if there is way more liquid coins than on Bitstamp, then the average price of my calculation should be significantly less.

Hmm interesting, but I don't know how valid those numbers are. Seem odd.

haha the best comment:

 "Don't believe everything you read on the Internet!" - Thomas Jefferson

Maybe the offer of 900$ coming from Pandora can be made because of marketing purposes & some future intentions.
For example: that auction news are going to be posted in some important press resources and media so... being the one that won could be beneficial for Pantera or the one that present the best offer.

Now everything is leaked and [removed] information so we'll wait for an official confirmation.

As I noted, these numbers are only based on visible data. I just checked not so long ago again and there is ~15k BTC that is currently on sell orders on BTC-e and Bitstamp. So take these numbers with a grain of salt.

how do you imagine that works with a blind auction?

also, they'd lose their $200k for nothing if they do that.

This
And even if it was like Ebay sniping on Ebay doesn't actually work, you only win if you actually bid higher doesn't matter when you place the bid.. ::)

RTFF (Read The Fucking FAQ)

http://www.usmarshals.gov/assets/2014/bitcoins/faqs.pdf

this is a great chance for someone to troll and drive the price up. most likely the case.

I am not questioning the process. Is there really no way the public can find out the bids unless US marshals or the auction winners releases the information? Can the public download their financial statements and find out how much they were paid?

We will not find out the actual numbers unless:  they are leaked by the USMS (as they did some of the bidder names), they are released by the winners (?), we file a FOIA request and it is granted.  See item #11 in the FAQ.

The price is up today so that is a good sign for speculators I suppose. 900 seems way out of line unless they were bidding assuming future value.

Even the losers can give some information.  ;D

If it ain't Dutch it ain't much.  :D

Yes! Absolutely. Losers know the minimum to winner's bids. If they choose to release the information, it would be useful too, but it will be after they have bought the coins they need from exchanges first. If there is no official information source, that means we cannot verify any so called "leaks".  :(

They were also not going to release information about the bidders.  They did so by accident.

Is this for real? Or just is this just made up?

i smell fake leak.

the idea is to put the max at the going rate($600) and hope others have lower maxes so that you can get a bargain below going rate..

coinbase can get coins cheaper already why would they put a maximum price of near $700

anyone putting more then the going rate is a moron. especially those that can get coins from elsewhere.

Maybe not. There is a thing called "market slippage" It normally happens when an asset goes down on low volume. But, I would image that the same issue is true when an asset is going up. In order for a firm to acquire a large quantity of said asset in a reasonable time, it in itself, directly impacts the price in the direction detrimental the buyer. I would expect a premium to be a possibility.  

Except that this is a blind auction where bidders will not know what others bid, and you cannot constantly up your bids. The highest bid will not up any other bids. And besides, would anyone really want to troll the FBI when their real identity is known?

I do not see the usefulness of any of us here knowing that information.

Is Pantera even still together?  What do they want with bitcoins?

Admittedly, I feel like with the transfer of the amount of coins, a slightly inflated price price (with an appended discount) would make sense. I see a price of $750 as slightly high for 30k Bitconis (considering bulk transitioning), but not overly crazy considering that buying 6k BTC would push the price at Bitstamp to over $700.

Pantera accumulates bitcoins. Thats what they do. Then they sell shares of these coins to investors. It's a fund.

I thought they were a band.  My mistake.

1.  The word "bullshit" in this thread title is misspelled.

2.  Avg purchase price of auctioned coins will be 620.

Just logged on to see if prices were released...saw this thread.
What a disappointment and waste of time.

$900?

Seriously????

https://twitter.com/barrysilbert/status/483692873855299584

Alan Silbert ‏@alansilbert
VP at GE Capital. Founder of BitPremier, the Bitcoin luxury marketplace. Bitcoin guru and evangelist.

"So basically at least USD$20MM of bitcoin buying demand went unsatisfied in the auction and will look elsewhere to buy bitcoins i.e. market"

https://twitter.com/alansilbert/status/483695027651346432

great news! also newsbtc reports:

42 bidders, 186 bids, 48k BTCs worth of bids for 29k BTCs

I suspect from these numbers one could take an educated guess about the amount per btc, right? maybe someone with a mind for arithmetic can take a look but it seems to me that if 186 bids were made by 42 ppl thats 4~5 bids per person, or each coin had 1.5~ bids each on avg... in that case, 48k / 1.5 would be 32k = 3k more than 29k, so each coin was won at 10% more than market... i made a mistake somewhere in there right? lol

http://newsbtc.com/2014/06/30/us-mar...tcoin-auction/

It doesn't seem true to me, but then again, if one were to buy  3k coins all at once, it would drive the price sky high, so ya never know.

Yep, that means this price did NOT win any of the auction blocks:

$670

 These numbers could be high - but with a sealed bid auction I expect the winning bid would be higher than market value, probably by a considerable amount.

We should be able to tell how high they bid by looking at the market value of bitcoin over the week, since I suppose that those who did not win the auction will go ahead and buy bitcoin at their bid price to soothe their loss (presuming they bit above market value).

and the fact that u cant know is exactly the thing theyre exploiting now with those prices.
i hardly doubt prices in the auction were that high.

I think this is what is known as tortured syntax.

It should be actually. The market is catching on though.

OP appears to be mis-informed or at least did not take Thomas Jefferson's advice about not believing everything you read on the internet


Of course, I read these on the internet too, but they look legit to me so...  ;)
1 - http://www.reuters.com/article/2014/06/30/usa-bitcoin-auction-idUSL2N0PB2JN20140630 (http://www.reuters.com/article/2014/06/30/usa-bitcoin-auction-idUSL2N0PB2JN20140630)
2, 3 & 7 - https://twitter.com/barrysilbert/status/483692873855299584 (https://twitter.com/barrysilbert/status/483692873855299584)

So, we know not Pantera and not SecondMarket - hence OP info dis-proven.

Also know not Bill Lee (https://twitter.com/westcoastbill/status/483688433177485312 (https://twitter.com/westcoastbill/status/483688433177485312)) - he thought it was Mt. Gox auction
or Alex Waters / CoinApex (http://www.reddit.com/r/Bitcoin/comments/29hxs7/i_lost/ (http://www.reddit.com/r/Bitcoin/comments/29hxs7/i_lost/)) (Bid was under market - apparently $400-$500)

That's all I got for now
Posted from Bitcointa.lk - #H7dwmZKDXQYoqjIe

Just for fun I fired off a FOIA request, it was actually very painless, fun and free.  I have no idea how long these things take but I expect by the time I get the requested information it will be moot.

Your research showed that OP is FOS and Pantera, SecondMarket, Bill Lee, CoinApex are all lowballers looking for a steal. Thanks!

That would explain the price rise today. I truly expected a drop in prices today. We need more auctions.  ;D

Not necessarily auctions, but more Wall St. participation :)

As long as we don't have HFT bots or we might end up with the weird Gox coin exchange rate and then everyone else again ^_^.
That said having wall street around is good for the growth of bitcoin as more companies use it

us gov auctions dont work that way .. there was no  min .. he who had the highest bid will win ..

There was a min. They have a rule that they do not have to accept bids for whatever reason. So if they don't like the price they will have the right to refuse.

We will probably never know exactly how much was paid for the coins  but it's probably above $700

No, second market's highest bid was $750, their average of all bids is $670 (they put in a few low ball bids too, like $600). They have announced that they did not win any bids. So this means that this price did not win any of the auction blocks:
$750

Do you have a link to reference the $750 bid? 

http://newsbtc.com/2014/07/01/bitcoin-shop-bids-usms-bitcoin-auction-accepted/

another one confirms their  bid was not accepted, - no prices though.
hope they start putting all that unspent $ into the btc exchanges!

Article didn't mention what the bid was, but by the bidder's comments, it appears to have been below current market price.

"After evaluating the current bitcoin currency landscape, we submitted a bid price that, if accepted, reflected our determination of a competitive and attractive value for our investors."

probably just FUD. it's easy to "leak" some sources just to stoke the crowd into a bitcoin buying frenzy.

The coins just moved.  All of them to one address.  It looks like one entity bought them all.

it's kind of funny because if 1 guy started dropping millions into the exchanges, then the price would skyrocket.. and now if 1 guy buys a lot of coins off-market, like via this auction, the price will also skyrocket if the details on the numbers go public. though it's still probably cheaper than buying from the exchanges.

Yep
http://www.coindesk.com/us-marshals-one-auction-bidder-claimed-all-30000-silk-road-bitcoins/ (http://www.coindesk.com/us-marshals-one-auction-bidder-claimed-all-30000-silk-road-bitcoins/)

it will be funnier when someone replaces the $1 guy with a picture of the Shibe

if it's just one guy, then i am pretty sure the bids were over spot. they probably have some sort of plan set in place.. i mean, $18+ million was spent on bitcoins. you don't make that kind of play without having a plan to profit.

I would agree. The OP is almost certainly FUD, however one bidder did buy all of the coins so the price may have been close to the market price.

If one buyer won all those coins, the likelihood of being close to the current market (Bitstamp/Coinbase/BTC-E/Bitfinex/Huobi) is slim--there just isn't enough coins on the broad exchanges for that kind of investment without moving the price substantially. A move from $550 to $650 isn't substantial, not by historical standpoints for crypto.

Who knows though. Whoever decided to buy that many is certainly looking for significantly higher prices and liquidity at those levels to move those coins.

I bought them all at 1,293$ each.

So, who bought it in the end and at what price?

One buyer bought all of them.  We don't know who.  We don't know how much they paid.

As far as I know, we don't have any information regarding how much each batch was bought for. I'm not sure how the system works in America, but it'll either be publicly released or leaked sometime soon so just wait it out.

The bidders all lowballed except one and they won them all. Interesting.

its obvious that someone paid a lot over the market rate.. Im guessing it was between 8-900 dollars per coin, but could have been more (or less, lol)

I agree that the information presented is likely dubious, but I would NOT be surprised if someone was bidding in the 700-800$ range. Institutional investors that would like a serious stake in bitcoin would dramatically increase the price on any current exchange anyway. It would take a long time to amass 30,000 BTC incrementally without affecting the price in a large way. They would have known they needed to bid high in order to get these coins in that large of a block.

They need to get in now. Institutional investors are seeing the writing on the wall and they want in. How to "get in big" is another question which is difficult to answer for the vast majority of them.

If the winning bid is $800 and the next highest bid is $500, the winner didn't do a good evaluation of the competition.
But we will not know the bidding pattern unless the feds make some additional disclosures.

I think these numbers may have been leaked as a red herring...

I understand there are a lot of fees involved when buying that many Bitcoins, but $274 worth of fees per Bitcoin? ???

That would mean they paid $39,549,708 over market value.....

It doesn't make any sense. I expected them to go higher than market value due to fees of buying that much Bitcoin, but $274 per Bitcoin is a little much.

I could of bought them that many Bitcoins and only taken a $100 per Bitcoin cut ($14,434,200.)  ;)

I guess you need to take into account of how buying this much Bitcoin would affect the market, but damn that seems like a lot.

No, actually you can't, if I gave you $20m right now and ask you to return me 32000 BTC in a week, you can't do it on open exchange without pushing the price up to $800-$900 level.

That's true but why would you want that many btc at once? Spending spree at overstock?

If you want to hoard that many buy them slowly over a few weeks time and pay no markup over spot.

Yeah, given that Bitstamp itself deals with 17,000+ BTC a day, it shouldn't be too hard to buy a thousand a day at market price over the course of the month. Given that your giving your details to the government anyway with the US marshal's auction, I don't see how that would be much different than giving the necessary documentation to an exchange for AML/KYC purposes. Unless of course you don't trust the exchange...

Second market have already said that some of their bids were market value -10%

So they went for at least market value -9% on that day which was $570 - $51.3 = approx $520

At an absolute minimum.

$520 is the minimum this bidder bid, and for them to be 1% over the next highest bidder on every block seems unlikely, but that remains the absolute minimum they could have paid.

Which is good news for us. They won't be dumping them on the market looking to make an immediate profit.

Yep if the spread is market less 9 % that means that at minimum its above that price if not at market or a premium
Still a few outcomes on this one either way I hope that we find out instead of being left to wait in the dark for a month or two
Sooner is better ^_^

There's a ton of reasons, for example there's currently several ETN trying to launch on wall street, and all of them will need a ton of BTC reserves on hand to start their operations. Or maybe just some rich guy thinking BTC price will explode in the coming weeks and trying to get in as soon as possible, and he might be right (or wrong).

If there is any markup at all to these coins he could have saved money by buying them slowly at multiple exchanges with not much more time than they waited for the bid date. The only reason to bid at all is to either get screwed or buy below spot.

Who cares what the government thinks and we don't have blacklisting so it doesn't matter.

Since bitcoin is fungible any coins are just as good as any other coins. The only exception would be freshly "minted" (mined) coins that have not matured yet. 

It should be obvious why BlackRock / Pantera Capital would want to buy "verifiably clean" bitcoins.
DannyElfman's assertion that "Since bitcoin is fungible any coins are just as good as any other coins" is misguided.
What happens when BlackRock "the world’s largest asset manager" with more than $4.32 Trillion US dollars under management pushes the issue, and Wall Street Investors demand "verifiably clean" bitcoins?
Who wants to be associated with "criminal activities" and "terrorists" using unqualified coins? :)
Wake up and smell the coffee man ;)

Well I watched the press conference video
From that all I know is that he outbid the other bidders so I guess two ways to approach it
1. Ask what other people bid for that lost
2. Get him to spill the beans  8)

i remember there was some guy who wanted to "mark" good bitcoins and kind of cause a fork.. well, i don't see that really happening with the cooperation of the government, since the US marshals sold silk road coins.

I dont buy it. The numbers are too round and too high

I won't really care what happens to Bitcoin at that point because I will have moved on to another crypto-currency.

Are you talking about the OP?  Obviously the OP is just a steaming pile of trollshit.

Well, I read on a number of places that he spent ~18mil$ on the 30k coins, so that comes to about $600 per coin - about 10% more than the market value on the same day as the auction :)

now i hope the cheap ass bidders who lost are spending their unspent money on the exchanges buying BTC the old fashioned way

$18 mill is a more reasonable number. Reuters was reporting that I believe.  That sounds about right for a purchase of that many coins.   Slight discount, but nothing atrocious...

Do investors in money market accounts demand clean currency? Do forex traders only buy and sell "clean" currency? Currency is currency is currency. 

I think whenever you put currency into wall street's hands it automatically becomes dirty.

$18m figure likely comes from the market value, and not the actual bid. It's likely cleverly worded to make you think they have more data than they really do.

"I just want to dive into a pile of bitcoins like Scrooge McDuck." Said Tim Draper when asked about his plans for the bitcoins purchased.

-Reuters news person


Hey, if Reuters news person said it, it must be true.  Don't question it.

Hilarious

eh idk, like everyone else said, this is a rumor so we will see when we see

There's no way a winning bid was over 900. If it was, he would be telling the world right?

The fed auction does not work like egay.

His .02 cents! :P :D

Yes it does, if someone had bid $900 and someone else bid $901.23 who would have won?

Not quite because their is no way to tell how the market would react to it in the long run
Perhaps it would work but we do know it is above around 550 from other bidders.

Can you post a link to a statement from any of the other bidders saying they bid around 550?

No, it does not and your statement is not the point.

The egay software sutomatically sets the levels of increase in the price of a bud, such that a bidder might bid $500, while the increase in the bid shown online is only $10, hence the successful bidder might get the item for less than he is willing to pay.

This allows a bidder to set a maximum bid and not go over it.

Also the fed auction cannot be "sniped" by software as can egay.

The fed auction and egsy auctions are similar animals but very different species.

His .02 cents!  ;D bahaha ok sorry that is the last time I swear.

Take a look on the experience and previous projects of Tim...

His company (DFJ) funded Skype and Hotmail. Invested in Tesla and SpaceX.
In my case I smile when I see that he's very involved with science and technology projects!

$900 for a Bitcoin my ass. The OP is a newbie account, this is just fake info.

I didn't say it could be sniped, I pointed out no firm would be stupid enough to bid round numbers since they would know that you can be outbid by a tiny amount and people frequently bid like that ($901 or whatever)

No shit Sherlock.  Did you bother to read the thread?  No.

"Don't believe everything you read on the Internet!" - Thomas Jefferson

Actually Thomas Jefferson said "It is an inalienable right of the people to believe everything they read on the Internet".

I thought Abe Lincoln said that ...

No, he said "anything is a dildo if you're brave enough."  :)

The simple explanation is someone is spewing bullshit in hopes of driving the price up.

ROFL

I got a whole new respect for Abe.

LOL!

But horseshit.

Any sources where do this info comes from?
900 is too good to be true

Again, for those that are too lazy to read the thread:

Since they were sold in segments perhaps some of the coins went for $900 and the rest below?  If somebody bid $900 per coin on one of the 3000 coin wallets...

One person bought all the coins.  He paid the same price for all of them.

How do we know that?

We know that one person bought all the coins.
I don't think we know that he paid the same price for all of them.

Yes, I admit I made the assumption that he only put up one bid for all the lots because then he would have only had to come up with $200,000 for the deposit.  That made the most sense to me:  one bid for all the lots = $200,000 in deposits.  This assumption was driven by my own feelings that a $200,000 deposit is "a lot of money".  

However, it is true that on the other end of the spectrum he could have put up 10 bids, each for only one lot and all at different prices.  In this case he would have had to put up $2,000,000 for the bid deposits.  But this would also be a very rational bidding strategy even though in hindsight he ended up "bidding against himself".  And thinking about it even more this is more probably what he did because then he could be almost assured of winning at least one lot.

So, you are correct, we do not know he paid the same price for all of them, it is very likely he paid different prices for the lots, and we only know he bought them all.

ya thats BS.

It's a blind auction, and only 1 bid allowed.  Just make your bid and hope for the best. 

There is no transparency like eBay,
[/quote]
wait wait so if it's a one bid only thing people would just bid 900 hoping to win. btw is this by pop price or a total, in both cases it looks too bogus

Lie.  You could bid as many times as you wanted and could afford.  Each bid at a different price just required a separate $200,000 bid deposit.

"The question is, what is the question?" - Douglas Noel Adams  ;)

I want to Believe - Fox Mulder

Don't we also know he paid one price for all of them because the auction description stated that everyone would pay at the same rate as the lowest winning bid (leading someone to claim it was a dutch auction even though that wasn't entirely accurate)?  I thought I read that in an official document, and it would imply that he paid one price even if he made multiple winning bids.

No, it did not say that at all.  The document stated that the highest bidder would take as many lots as they bid for, then the next highest bidder would take the number they bid for or the lots left whichever was less - if there were any left, etc.  Straight up highest bidder auction right down the line.

Well guys! Finally what price do you think that Tom offered on the Auction?

I am still waiting for my FOIA request to be processed.  It has not been accepted but then again it has not been rejected either.

Is Pantera Tim Draper's company ?

Good luck with that. I made a Freedom of Information Act request for a paper I was writing as a Sophomore in college. I received the info I requested a little over a year after I graduated.

Please note that all of the information in the OP is totally made up bullshit.

Well...

I am certainly not holding my breath.

I have been expecting higher than market value since the "whales" do not have to send money to unregulated exchanges.

This thread can probably be closed since the auction has come and gone already.   I am wondering where the original numbers came from?

What original numbers?  Do you mean the total made up bullshit of the OP?  Or are you talking about some other original numbers?

Very valid point and a good reason to expect high bids.  Did you expect a drop in the price of Bitcoin also after or at some point during the auction?

Am I trapped in some kind of time vortex? The auction is long over! We're basically waiting for someone to reveal their losing bets or the FOIA requests to get fulfilled (which may take a lot of time or happen never)...

I assume this is coming back up because the winner is back in the news over the 6 Californias thing.

Yeah, but there are people ('counter') talking about the auction as if it was taking place in the future. Which is odd, to say the least... I mean, there are supposedly upcoming auctions of the remaining funds that have been seized, but I guess it still takes quite some time for them to be auctioned off...

Neither of this will happen. Draper has a good reason to want to keep his price a secret and the USMS agreed to keep it secret. They are exempt from the FOIA in this case due to trade secrets.

Please post a link to the source of this new information in your post.  Unless, of course, you are good buddies with him and he told you all that over a round of golf.

My FOIA has not been denied.  If they are exempt they have to explain that - they have not.

Seems like BS.
I thought they were only honouring 1 bid per enterprise.

Since you do not have a paid ad in your signature I will answer your question that indicates you did not read any of the thread at all.  The OP is totally made up trollshit and the USMS allowed one bid per $200,000 on deposit.  You could make as many bids as you wanted to as long as you sent in $200,000 deposit per bid.