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Title: what is the smartest bidding strategy for nov.5th auction? Post by: 600watt on November 01, 2015, 11:24:04 AM i am sure those folks who want to buy a chunk of the famous last auction stash of 44 k btc are getting a bit of a headache due to the recent rise. registration closes tomorrow, auction is on thursday.
Quote Here's your last chance to grab a chunk of those bitcoins authorities seized when they arrested Silk Road founder Ross Ulbricht. On November 5th, the US Marshals will be auctioning off 44,341 bitcoins -- around $10.7 million worth -- from 8AM to 2PM EST. The bitcoins will be sold in 21 chunks of 2,000 each, along with a single block containing 2,341 BTC. yep, article was published oct.6th, those coins are worth right now $14 million (stamp). letīs say you have $3 mio to gamble with: -if it stays over 300 @stamp, what bids would you make? -if it moves down to 280 on auction day, what bids would you make? -what if it shoots up over 350? what if it breaks 250? what a mess... :D most simple strategy would be to dump as much coins as possible, to keep the price down. whoever tried this (if any) it sure did not work out so far. http://www.engadget.com/2015/10/06/us-marshals-last-bitcoin-auction-silk-road/ (http://www.engadget.com/2015/10/06/us-marshals-last-bitcoin-auction-silk-road/) Title: Re: what is the smartest bidding strategy for nov.5th auction? Post by: readysalted89 on November 01, 2015, 11:36:26 AM After the first auction the price crashed from the 600 the winner is guessed to have paid, and its never recovered. After the second auction the price went up so buyers profited. If this last auction came at a low point in Bitcoin's price the winners would probably profit as the price bounced back up. As it stands the price has already risen and must continue to rise for the winners to profit, unless they pay considerably below market price. I wouldn't personally risk putting bids on at market price in case Bitcoin heads back down.
Title: Re: what is the smartest bidding strategy for nov.5th auction? Post by: gentlemand on November 01, 2015, 12:16:10 PM They should form a committee of experts from here to advise them as to the right price to bid. I believe the committee should only be made up of newbie members who post exclusively in the investor based games section as ponzi mongs will have that idiot savant random factor that they need.
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