Bitcoin Forum

On March 5th, 2015, the United States Marshals Service concluded its second online auction of bitcoins seized from Ross Ulbricht. The sealed bid auction was for 50,000 bitcoins divided into two series. The first series comprised ten blocks of 2,000 bitcoins and the second had ten blocks of 3,000 bitcoins. Bidders had to deposit US$ 100,000 for the first series and US$ 150,000 for the second series. The total number of bids stood at 34 from 14 bidders, and the value of the bitcoins at current market rates stands just shy of US$ 14 million.

The winning bidder will be notified on March 6th, 2014, and will be required to wire payment to the USMS by 2:00 pm, Monday, March 9th, 2015

Source : https://www.cryptocoinsnews.com/us-marshals-conclude-online-bitcoin-auction-ross-ulbrichts-bitcoins/


So what do you think, will be the effect of this on market.
The winner will be disclosed on 9-10 march .
What if the Person dumps those coins ?
Are we ready to take such a big hit?

What if the Person dumps those coins ?

makes no sense. these investors understand BTCs potential.


Are we ready to take such a big hit?

yes. because i understand BTCs potential   :P

It would not make sense to buy those coins at a 30% higher price and dump them at the normal price in the market. I am sure people who invest 13 million USD in the auction, and smart enough not to dump it right away

Nope, i doubt the person will dump the coins, he would make a huge lost as he is buying over the market price.Bitcoin is a having a big potential as technology and as type of investing. :)

The effect of this will be positive.

I doubt the winner bid will directly dump the price, must be the winner is understand about bitcoin. My guess is the winner will make the ladder order which sell little bit

Yes! the potential does understand it , but what about the Hype that will be caused , don't you think it will effect the price?

We aren't sure they were bought for 30% extra , it's just a rumour as of yet

I see many people saying that he bought above the market price .
Can someone please provide me with the link where it shows he bought them at +30%

Unless they are rich/a company who is looking to cause problems to btc... That could cause some problems.

Looking forward to hearing the results, twice as many bidders as last time.  I heard rumor that pantera capital have bought everything this time though.

Are you sure the price is 30% higher than the market price?
Is there any reliable resource can confirm this?
I believe the one who win this coin surly understand the value of bitcoin.
They will not dump it.

I think it was the rise in interest and the possiblity of it being 30% more than the market price. Not sure what the result was though.

Even rich people ain't doing that .

Anyways am just talking here about the Hype that the news could cause , not actually the Dump.
am sure anyone who bought so many coins ain't dumping them all

it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/

He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.

No i can't find the link but he didn't took part in this auction

From what ive heard draper has either not bid or hasnt won this auction, think the last 2k he bought was the final lot for him.

You have to think about it the paying over 30% market price is boarder line fairy tale, someone with that kind of money understands the market and if they wanted 50k Bitcoin they could have got that from  multiple exchanges setting buy walls up and after a week they would have their 50k easily but they would have paid less than market price. The auction they paid less without a doubt in my mind. 

"bitcoins sold closer to or even above market price"  (but just barely over, quoted from an underbidder)  They wont be dumped. They will simply provide liquidity to the growing numbers of exchanges.

The losing bidder was Kardashev Capital who bid $221.51

They might have only bid on one lot too. We have nothing solid to go on except it was above $221.51 for one or more lots.

$221.51 for total 50k BTC or one batch ?
Also $221.51 k or M ?

Common sense would tell that if the winner of the auction is paying higher than the market price, I don't think the guy will just dump it straight away to the open market. Somehow I have doubts whether the 30% claim is true in the first place. I mean with the money he has, he can opt to buy from different exchangers or even buy it in batches. What I think is that more likely the bidder might have won the auction paying at lower than market price.

there will be no effect, since they can't dump something purchased for 30% more, unless they are stupid, also i don't think they want to crush the price, therefore in the case of a dump, it will be done outside of the market

Yet another topic about the auction. What for, really? There is nothing more to be said, beyond what has been already stated in the previous threads on that.
There will be no dumping of these coins, as they were acquired cheaply and they will be hold till the price rises more. Much more.

You are spreading FUD,bag holder

Wow! thanks for the share man , so much you know for being a newbie(JK it's your alt) but doesn't matter , nice info .
i have been saying to everyone that it's nothing more than a rumour .
What just a simple member can cause with a lie .

Why would they purchase something for 30% more if at all they want to dispose it?

Do you even know what the acronym FUD stands for?

I don't see fear, uncertainty or doubt being cast.

FUD is more typical of of bears who attempt to induce fear, uncertainty and doubt about Bitcoin by making negative comments in an attempt to drive prices down.

All we know is that at the bitcoins sold at least for greater than 17% less than market price, so at LEAST $224. But no where was it said that the buyers paid more than 30% market price!

Regardless of whether they paid above, below or at market price, they didn't buy to sell.

They bought to acquire coins, most likely for new enterprises which need Bitcoin inventories.

Not everyone is a daytarder. Some here seem to forget that obvious fact.

Where is it shown it's greater than 17% of market price?

1 person bought all the coins is the rumor, this is the coins i think:

https://blockchain.info/address/12pCPrWvudnefJCtXQUBcm9z2NogtC3Rix?filter=1

I thought the same, but apparently not. Follow it along, it's being split.

They send text transactions to winners. We have 1 3k confirmed winner.  47k is still in control by the feds.

You may be right about that. However the buyer at an auction is a different kind of buyer that uses the exchanges. (This is my theory). Exchanges are far to risky for an institutional buyer to use. They want to get $100K in one shot with no risk of fraud. A marshal auction is a very safe place to buy and that is worth a lot to a real investor. The big fish I know set up a private arrangement with a miner or look for a chance like an auction. They would not even consider sending money to an exchange.

Strange note appears on the transaction:

i see many people here begging for money, but i`m looking for an investor for my app-idea.Mr. Zuckerberg payed for Whatsapp $19 bil. My app will be used worldwide.i tried to get money this way: milliondollarsapp.com. Do you want to be my private investor?

lol https://blockchain.info/address/1DNM1TgbL8yYTsDzADw9W17Es2BEezMBpi

1. If the person dumps all those coins, then probably he/she lost in this game. Definitely a big loss if ever.
2. Yes. Seeing that we gained value and attention from scratch, I can fairly say that we are ready to face such a big hit.

The winner will probably hold because most likely he bought above market price and once bitcoin starts gaining traction there will be no reason to sold unless you are mentally deficient.

True. If the winning bidder bought above the market price, then he/she wouldn't sell it off in a much lower price as it will result into a large loss. If he/she is insane, then probably he/she would do just that.

Why most likely above market rate? All we actually know, or have heard from a reliable source, its that a bid of $224 was not enough to win a lot, so the price was more than $224 for some of the lots.

The 30% over market price is an unconfirmed rumour, let's wait and see what is confirmed in the next few hours, the market reaction seems to be indicating that the buy price was over market value, but how much more is anyone's guess.

That assumption is not just based in the 30% rumor, but on the past auctions...

Well! i was thinking he could maybe manipulate the market , like a pump and dump , he could easily do that with his number of coins



LOL yes , saw it too
Quite funny.
I wonder do these people really get any investors like this?

It might be but don't really think one person won them all


May be the person doesn't want people to know about it! and hence using a mixer or some sort of service for it ?

Who said that?