Bitcoin Forum

http://www.ahametals.com/vc-tim-draper-wins-bitcoin-auction/ (http://www.ahametals.com/vc-tim-draper-wins-bitcoin-auction/)

Venture capitalist Tim Draper won the U.S. Marshals bitcoin auction earlier this week that captured about $18 million for 30,000 bitcoin, according to a statement emailed to Reuters on Wednesday.

So if someone has bunch of bitcoin (well 30k isnt really bunch but something big) and he keeps it so price will continue to rise or fall?

Is there any news yet about how much Draper actually paid?

There was some speculation on this forum at the time based on other known bids, over $650 a coin if I remember right.

Yeah, but I thought people filed FOIA requests to get the precise number. I thought they should have an answer on those by now.

cut loose Tim Draper

Maybe he already did? :D

He could probably have got a better deal by waiting until now to buy.

The higher you are the harder you fall :D

Let's see you put a 30k BTC buy order in and see what it does to the price.

Would be funny if Tim Draper was left holding the biggest bag of odorous excrement ever assembled in the history of Bitcoin (stolen from Margin Call) this exchange start up would be getting the hurry up by now...

It would not do much for his reputation.

If anyone who understands Bitcoin, that at this time and age, that one can get 30,000 bitcoins one go, at the price he paid, that they wouldn't give anything to be in his shoes much less ridicule him and thought it's funny, no.

Can someone decipher this? I feel like it may mean something. Is there anyone around from the 1600s?

Yes. It means fuck you to you

Has he actually done something great with the coins he acquired? I think his plans were quite interesting and could actually help people who are bound to economies that actually slow them down instead of helping them.

Can't these people just use foreign currencies or even PM as a store of wealth? I don't understand this notion around here that the world's poorest people who live in the worst economies...

A) Have money to save
B) Have a smart phone or other device that can store bitcoins
C) Are going to choose to invest it in a currency that has already fallen over 50% since the start of this year, when again, they can easily store it in foreign currencies

You guys need to think about this stuff for a moment, like, actually use your brains.

If someone only has Bitcoin, and no action, do not care about the price

I don't think he has done anything with them yet. He has said that he plans to expand the accessibility of bitcoin in places where it is difficult to buy bitcoin today (likely third world countries).

This isn't even a troll post from a troll poster. This is correct. There are some situations in countries with true hyper-inflation that may justify this. Otherwise, people in poor countries are very literally using money they cannot afford to lose.