Bitcoin Forum

Economy => Speculation => Topic started by: Wandererfromthenorth on July 01, 2014, 08:55:57 PM



Title: Only one winner for the 30k BTC from the auction!
Post by: Wandererfromthenorth on July 01, 2014, 08:55:57 PM
Edit:  the only winner of the auction is Tim Draper!

http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/



Title: Re: Only one winner for the 30k BTC from the auction!
Post by: EcuaMobi on July 01, 2014, 08:57:49 PM
And the coins have a new owner!
https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55

Then I guess those coins were sold for a high price. Any news on the price?


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: John999 on July 01, 2014, 08:58:58 PM
And are we going to know who the winner is?


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: klee on July 01, 2014, 08:59:57 PM
And are we going to know who the winner is?
Tom Hanks!


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: nickenburg on July 01, 2014, 09:03:51 PM
This must be some rich invester, or a big company.
Because they just spend 20 million on bitcoins, I mean not alot of people have so much cash to buy some bitcoins.
Im sure they believe they maybe have 200 million in the future.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: Miz4r on July 01, 2014, 09:08:22 PM
Do I see Wells Fargo there or was that a troll?


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: BitchicksHusband on July 01, 2014, 09:09:40 PM
And are we going to know who the winner is?

1a8LDh3qtCdMFAgRXzMrdvB8w1EG4h1Xi


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: Carra23 on July 01, 2014, 09:16:31 PM
This must be some rich invester, or a big company.
Because they just spend 20 million on bitcoins, I mean not alot of people have so much cash to buy some bitcoins.
Im sure they believe they maybe have 200 million in the future.

20 million is loose change for the big entities. Some might have thought why not take a punt on this thing. Remember that for them even a 5% return is huge.

I wish I had so much loose change ;D



Title: Re: Only one winner for the 30k BTC from the auction!
Post by: jbrnt on July 01, 2014, 09:16:43 PM
I thought this would be just another troll post, but no, this looks to be an official statement from US marshals! One single bidder won all 10 blocks? The winning bid must be well above market rate at the time? (around $580 if I remember correctly)

This is so encouraging. He/she/them must be in for the long haul and none of those coins are going to leak back into exchanges any time soon.  ;)


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: criptix on July 01, 2014, 09:17:42 PM
This must be some rich invester, or a big company.
Because they just spend 20 million on bitcoins, I mean not alot of people have so much cash to buy some bitcoins.
Im sure they believe they maybe have 200 million in the future.

future could be in the next 3 months, depending on the entity (multi national company) they could even pump bitcoins themself  ;D


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: Alley on July 01, 2014, 09:39:50 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: MoreFun on July 01, 2014, 09:52:17 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

Wait for a few minutes, exchanges require 3-6 confirmations.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: alexeft on July 01, 2014, 09:56:00 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

Yeah LOL!!! He would dump the coins because he needed the money!!!  :D :D :D


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: wachtwoord on July 01, 2014, 09:59:05 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

Yeah LOL!!! He would dump the coins because he needed the money!!!  :D :D :D

1. Buy above market price
2. Sell below
3. Oops?  ???


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: MoreFun on July 01, 2014, 10:03:08 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

Yeah LOL!!! He would dump the coins because he needed the money!!!  :D :D :D

1. Buy above market price
2. Sell below
3. Oops?  ???

1. Buy above market price
2. Sell below
3. * Magic *
4. Profit!!!


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: gimme_bottles on July 01, 2014, 10:04:39 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

Yeah LOL!!! He would dump the coins because he needed the money!!!  :D :D :D

1. Buy above market price
2. Sell below
3. Remove fake resistance
4. Profit!

FTFY


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: wachtwoord on July 01, 2014, 10:05:27 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

Yeah LOL!!! He would dump the coins because he needed the money!!!  :D :D :D

1. Buy above market price
2. Sell below
3. Oops?  ???

1. Buy above market price
2. Sell below
3. * Magic *
4. Profit!!!

Ah thanks I forgot the magic. Silly me.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: hyphymikey on July 01, 2014, 10:07:34 PM
How could they let people know they lost already when the award process is ongoing? You have to pass the background check before the auction so that can't be it. I bet someone won all the blocks of coins at a high price, and if I am not mistaken, I read or heard they were selling them in chunks so no one entity could turn around and sell them. I think it was on the news clip that aired right before the auction. My guess is some bank bought them all and they are trying to revise the rules, to whose benefit I have no idea.

I called this in the wall observer thread the other day. I also give it less than 1% chance this entity sells anytime soon.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: zahra4571 on July 01, 2014, 10:22:49 PM
Lets see how much time they need to sell it for double price. Predict one year :)


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: atp1916 on July 01, 2014, 10:23:55 PM
How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   ::)

That's what all the bears want to happen.

I will say that the mere fact the coins were bid up higher than market rates is simply due to what i was suspecting all along: that whoever did get them bid way up to keep the coins out of the hands of those who would dump them onto the market.  There is no dump of the Mt. Gox coins nor will there ever be.

This train is heading up, and will keep heading up thanks to no China in the background.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: 4mherewego on July 02, 2014, 05:09:33 AM
Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: piramida on July 02, 2014, 05:23:34 AM
It could be the biggest endorsement and "validation" (in the masses' eyes) for Bitcoin ever.

Could be, yeah, but it is almost certain that we will never know who that was. Adds to the list of bitcoin mysteries like "where is satoshi" now "who bought sr coins" - everybody can see who in the blockchain, but nobody will know until they start spending.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: Cablez on July 02, 2014, 01:25:12 PM
You did read the updates given, yes?  The winner is big VC Tim Draper.  Plans to work with Vaurum.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: Torque on July 02, 2014, 01:33:57 PM
Venture Capitalist Tim Draper?  The VC that has invested in over 1000 private companies since 1985 (Skype, Hotmail, Tesla, Baidu, etc.)?

But isn't this guy really just a lowly, opportunistic day trader who's going to dump all of his 30K bitcoins on the exchanges the first chance he gets, tanking the current price???

At least that's what all the really smart bitcoiners were telling everyone last week???  I don't understand what's going on???   ???

http://cdn.memegenerator.net/instances/250x250/51883383.jpg


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: RiverBoatBTC on July 02, 2014, 01:39:43 PM
Looks like the price has started to climb already


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: rohnearner on July 02, 2014, 01:46:51 PM
If anyone missed it , Tim Draper a VC has been revealed as the winner of nearly 30,000 BTC.
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: LtPaxIV on July 02, 2014, 01:48:56 PM
might have been one of those "come invest in bitcoin" fonds. im reading more of those comming up lately.good for bitcoin i guess  8)


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: LtPaxIV on July 02, 2014, 01:51:16 PM
might have been one of those "come invest in bitcoin" fonds. im reading more of those comming up lately.good for bitcoin i guess  8)

ha like i said. read about this guy a few days ago


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: btcxyzzz on July 02, 2014, 05:17:23 PM
20 million is loose change for the big entities. Some might have thought why not take a punt on this thing. Remember that for them even a 5% return is huge.

You're completely right, I think we're not aware that 1% of people on earth possibly owe 80% of wealth, maybe even worse. For that 1%, 20 mil is like 20 cents in your pocket.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: BitchicksHusband on July 02, 2014, 05:37:39 PM
Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: piramida on July 02, 2014, 06:10:59 PM
Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

Many things are illegal somewhere. I am sure most drug dealers, if given a chance, would pay their taxes properly and not resort to laundering. Just give them a chance, stop arresting them :)


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: sgbett on July 02, 2014, 07:24:52 PM
Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

Many things are illegal somewhere. I am sure most drug dealers, if given a chance, would pay their taxes properly and not resort to laundering. Just give them a chance, stop arresting them :)

The Feds are fucking thieves. But as the adoption of Bitcoin slowly (!) grows their power will erode away into nothing.

Sit back watch it crumble and when it burns raise your glass. Dinosaurs will die.

Raise my glass? Not before I don my monocle you heathen! ;)


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: 4mherewego on July 02, 2014, 10:04:43 PM
Hope the winner spends my stolen bitcoin on something nice.

If you aren't the sole controller of your private keys, you don't have any bitcoins.

It seems you've had to learn this lesson the hard way.

You have learned this lesson, right?

I learnt the lesson the hard way, don't store my bitcoins with 3rd parties longer than needed because you never know when some criminals will steal them.

Very happy with Tim Draper getting them. Likely this has raised the value of my other coins more than the value of the coin that was stolen so I guess even steven.

Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

Money laundering is a made up crime. silkroad was also known to sell bibles which are illegal in North Korea, terrible crime to sell bibles. And porn, you could actually buy porn on silkroad, that is just horrible right?


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: wachtwoord on July 02, 2014, 10:11:32 PM

Money laundering is a made up crime.

This needs to be repeated and emphasized.


Title: Re: Only one winner for the 30k BTC from the auction!
Post by: bitcon on July 02, 2014, 11:13:35 PM
the impact of a whale dumping 30k on the market would lose him money.  smart whales hang onto their coins or sell them slowly.