Bitcoin Forum

Sorry for this noobish question. How can we know the news ?
Kind regards.

http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/ (http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/)

It says draper got another 2000

how many each coin ?

we won't know price... Unless the person is kind enough to tell us! Meaning it will never happen.


wow typical... I thought he would try to buy all of them just to lower his cost price. Looks like he knows better, he knows he will have to sell soon. I wonder who bought most since only 11 bidders

Who is draper? Is he somebody from around here?

I am thinking the price would be a lot lower than for what it sells on the exchanges.

Seriously?
Draper won first auction (all 30,000 coins) and paid more than market price. Now he won only 2,000 coins of 50,000. Make your own conclussions...

Conclusion, he wanted to make sure he lowered his price per coin & since there was only 11 bidders you can see they all easily paid very well below market value

the billionaire that wanted to double down could only get 2.000 out of 50.000 coins? lmao...

I'm guessing Pantera got zero since they said they bid under market price, if Draper only ended up with 2,000

The greed is strong in this one.

Before auction ends you know shit. How much bidders, whats their price. You only know that you want to win. Becuse you won prevoius, you have experience.... You know that yours opponents know the same... Make a story continous... I say bullish...

LMFAO What idiot would double down when you are already down millions??? You idiots really have faith no matter what. Good luck to all you "get rich quick" idiots

Well it makes sense for him to bid considerably lower this time since last time he outbid everyone and could have gotten the coins cheaper probably. Now he has more information to decide on his bids for the next auction, and he's not likely to share that information. I would guess he placed his bids just below market around $350, to bid competitively and still have a chance at getting some coins which he succeeded at. But it could also be way higher or lower, there's not much to base it on only Draper knows.

He also said he'll have to buy more on the open market now:

http://dealbook.nytimes.com/2014/12/05/venture-capitalist-tim-draper-wins-small-piece-of-bitcoin-auction/?_r=0

Because that's what people who think long-term do. Tim is no slouch when it comes to taking positive-expectation long-term positions.

The classic weak-minded play is to buy more and more when price is rising, and/or sell more and more (or fail to buy more) when the price is falling. Long-term investors typically spend a lot of due-diligence time building their thesis, then decisively build their positions while the price is below what they consider net-present-value. If the price drops, they'll often consider that a happy opportunity to buy more if fundamentals have either stayed the same or improved.

Sounds like you have no idea how marshal auctions work... we all go in knowing we will pay way less than market price OTHERWISE theyre are plenty other ways to get bitcoin over the counter

i agree, that would actually make alot of sense if you are thinking about the next batch of coins that could be auctioned.
but then i'm not sure what to think about him saying to buy on the market now, because he needs more btc for boost vc.

He is full of shit and trying to bring the bulls out since he is down millions of dollars... people who still pay attention to him are idiots!

^ Such anger, much fear ^

Please stop quoting the crazy monkey, thanks :)


Yeah he probably adjusted his auction strategy this time; also I believe the fact that somebody got 9 out of 10 blocks above his price means there was more than one buyer, probably several small entities; otherwise the number 9 makes no sense.

Where you got the info he paid above market?

As far I remember he said he didn't pay above market prices and refused to say more about the auction price

I didnt know details like that were revealed.

Conclusion: He overestimated earlier and underestimated now.

For reference, we are talking about this guy:

http://www.siliconvalleywatcher.com//TimDraper%20(1%20of%201).jpg

That's clearly not a guy who would ever overdo anything  :D

Looks like somebody who isn't in the right state of mind...

I think the price he bid was below market price.

 ;D it's called structured market analysis.

The coins have not been distributed yet.

He doesn't always dress as sharp as that.

Here's a picture of him dressed like a doofus.

http://i664.photobucket.com/albums/vv10/JimboToronto/draper.jpg (http://s664.photobucket.com/user/JimboToronto/media/draper.jpg.html)

 ;D

Yes he looks like a deluded bitcoin fan boy. ...With a billion dollars and tens of thousands of bitcoin. What a loser, huh?

By the way, how successful have you been with bitcoin? Considering Drapers state of mind and your ability to see future prices, you must have 2 or 3 billion, right?

Looks like someone who has smoked too much ;D

Come on, buy at Bitstamp and pump the price.

Now that the bitcoins from the auction are being distributed, question is if some of the buyers decide to dump
on exchanges, would they on mainland China ones? I think not, probably they would dump on Western exchanges like Bitstamp.
Which Bistamp needs to do some catching up to the Chinese, in order to regain it's real name of Bearstamp. ;D

Are you really that stupid?

1. Pay over market value for BTC
2. Sell BTC for market value
3. Profit ????

I wouldn't underestimate Tim Draper...you can hear his balls clanging miles away.   :o

No sir that is the change falling out of his pockets you are hearing... He is loosing millions again and again everyday

So, to pull back to the OPs question for a moment:

http://www.coindesk.com/bitcoin-investment-trust-wins-48000-btc-us-marshals-bitcoin-auction/

So there were two winners, Draper with 2000 coins and BIT syndicate with the other 48000.  Divided by 104 bidders in the syndicate, averages to ~461 coins per person, if they all contributed equally.  And of course nobody knows what the individuals will do with those coins, but its unlikely that they all would dump them all at once, even if they did get them for below marked price.

You mean Silbert's group... the guys that underbid the market by $200 last auction... won. LOLOLOLOLOLOLOL... "bullish as fuck" Bahahahahahaha

Yup, Silbert's group.  Where did you see about the amount they bid last time?  I didn't think there were any confirmations on that?

Silbert posted it on his twitter feed last time after the auction. It was one of the price points people referenced in trying to assess what Draper's bid was. I want to say they bid $463 last time, but I'm honestly too lazy to troll through his twitter feed to find it.

Well, I tried to find some record of it and couldn't.  References to the last auction were https://twitter.com/barrysilbert/status/482951689381904384 and https://twitter.com/barrysilbert/status/483692873855299584.  If you (or anyone) has a definite link, I would like to see it.  Because I have seen no actual bid amounts anywhere, winning or otherwise.

Remember a couple of things:
- Silbert's syndicate is a group of individual bidders;
- Last auction they lost, so if they intended to win maybe they learned something (to bid higher)
- Highest bidder last time around was Draper, who really wanted these coins and was outbid (see https://www.coinprices.io/articles/december-4th-usms-bitcoin-auction-hub).  That implies the winning bid price was not likely low.

Nothing to indicate that the current auction results were NOT "bullish as fuck".