Bitcoin Forum

http://insidebitcoins.com/news/us-government-schedules-third-silk-road-bitcoin-auction/30012 (http://insidebitcoins.com/news/us-government-schedules-third-silk-road-bitcoin-auction/30012)

Taking place today, 5^th March, 2015, the third seized 50,000 Bitcoins auction took place with the bidders having six hours, i.e.; 8 am to 2 pm to submit their bids.

What do you think on "how this will actually affect the price at any cost"?

Share your views on what will be the outcome after the third auction of stolen coins.

Bitcoin Will SkyRocket :D
Not skyrocket exactly but will go up!

i think main buyers will be funds, larger players and hodlers

all auctions have gone this way and is great news

out of hands of criminals and black market players, and out of hands of other criminals fbi and cia  ;D
once all ulbricht and other silk road players coins sold at these auctions there is unlikely to ever be such things again

Being optimistic is good, being over-optimistic isn't, as your ego only gets hurt if the real picture that comes out what you didn't expect, just like over-confidence.

Me too currently bullish on BTC, let's see what the big guys are hodling in their bags.

surely this is what everyone wants. But I prefer to wait and see.

Let's see, it is today, some hours later.
I think that it will not give any effect to current price.
There is too much bitcoins around so 50k only if sold at once can be a danger, but I doubt that will happen, as it would be not so smart if buyer do it. He can calm and wait for price to double so he can enjoy on at least 100% profit.

Little drop now before the auction.

Change after will be depending on who buys these BTC.

These auctions do not hit the market directly. So, they are not a problem except the panic factor.

I highly doubt that there are people (whales) sitting currently thinking more of harming the price of BTC instead of giving it some support, as if these coins are sold and dumped, then that would be a better opportunity for many whales to get in again at very low prices as panic sell will be the obvious scene.

If you want to know the effect, check what happened the first two auctions.

Only thing it contributes so far is some press coverage in the mainstream media.

I think I have already given my opinion on this through the below mentioned statement... ;)


The only thing I saw was, dump first and a bit pump later on, still it harms the price of BTC a lot due to people selling in panic, as I have seen everyone selling on news.

There is nothing special about it. It's exactly the same as previous auctions.

Not sure why some people get excited over nothing.

The only one who benefits from it are the people who get a lot coins for just one price at the auction.

Nothing much'll happen in the wider world. If the previous auctions have taught us anything, it's that they're utilised by people looking for large and pain free purchases away from all the crappy exchanges. That points towards holding and future plans.

It may drop the price a little when a few of the newbies start selling if it does not start a little panic then very little will happen, 2pm so has it just finished i am in th UK?

The buyer will most likely hold them coins for the long term so not much to worry about them dumping :)

It's the last one isn't it? That makes it somewhat special, the market is free afterwards from the threat of the Feds dumping their coins to drop the price again!
I have a feeling some good entrepreneurs will be involved this time, there is some momentum behind BTC at the moment, not that the price would tell you that!

Still, after watching the exchanges and the decrease in sell-offs the last few days, yes, I too believe that there might happen something very surprising what we haven't expected from this auction thing.

No matter what happens, I think you should panic.

http://fc07.deviantart.net/fs71/f/2012/216/1/b/keep_calm_and_panic_by_lukan_the_oracle-d59ts6y.jpg

My take... Yawn.

The first auction went really well but the second one less so.  Given the recent price action I think it is a minor negative, more coins hitting the market, but hopefully will set the stage for another move up.

From what happened in previous auctions, bitcoin price will go down.

I personally don't think it's going to have any effect at all.
Maybe just a minor increase in price.

True, I am also expecting that.
But I think it might be seen as a correction instead taking it as a dump.
In fact, in this showdown, the winner will take the pot consisting of the small antes and the bets. ;)

As everyone's talking bearish, I am also a bit down atm.
I think it may see a reversal and then a re-correction upwards.

Nothing will happen! Oh my gosh relax guys!!

Lets just hope the winning bidder doesn't list 50k just for profit, then we are fucked

how does the auction in practice?
If a wallet passed?
Bitcoins are sent?
Can we see where the Bitcoins are?

Not we are not really fuc*&, 50k btc will not crash the price much at all its people who thinks it will who all start selling could crash the price but not the 50k that is small fries in the scheme of things. Plus more than likely the buyer will hold them as a long term investment not offload them at the earliest opportunity someone who has that sort of money is in no need for a quick fix. As long as people do not panic dump we will see no change but you just know there will be a panic lol

Oh really??? Well, mind explaining it to us?
I think the effect has already been started as some small sell-offs have already taken place and dropped the price a bit down, you should thank people that the volume of sells ain't that big yet, else we would have been under 250s till now...

It's just another day in bitcoin land. Taking recent times into account, the likelihood of a drop is a whole lot more likely than a rise.

The previous auctions have shown that they're effectively separate from any exchange activity. The reason you'd go for the auction would be to remove yourself from having to deal with exchanges in the first place.

I can understand that, but still have always seen people selling on news and that is what this auction being in the news, affected to the price.

Alert!!! Auction Again!!! What do you think?



nothing. i dont care.

Awww... Don't be that rude to us, Mr. LiteCoinGuy... :P
Anyways, if you can post your opinion, it would be better than showing off like you actually don't care. This is what this thread is for, opinions!!!

Yeah, too much money involved, it just doesn't matter for non-millionaires.

everyone in a panic for no reason.  who ever buys these coins will not take them to market.  they will most likely be used as an investment or to back btc business like an exchange.  price is just price.  you cant keep going up and up without some people taking their profits.

Any News? auction should be over

To what point is this thread actually ? Its nothing new, the auction was schreduled a long time ago, and it was known to be bidding today.
The former auctions didnt cause the price to go down, the price decrease was caused by many bad news, articifialy raised price, and scepticism in general.
Yelling alert alert would be something expected when the auction was announced, but certanly not now.

cheers

The thread is mainly for discussion and opinions of others regarding the auction for today. Plain simple.

I cannot find out how many bidders there were, or who won yet. It took a day or two after the last auctions before we started to get information. Maybe tomorrow we might hear something.

If bidders hodls - GOOD
If bidders sells - BAD

Let's see what the big players' take will be in this auction. Oh wait! Isn't it finished already? o.O

Because former auctions never had any negative effect on the price! Simple is that!  ::)

Preliminary evidence is that the auction went well. http://www.coindesk.com/third-usms-bitcoin-auction-bidder-interest/

We'll know more next week.

I dont know what's going on with this giant auction but the two ETFs that are forming and getting approved are eventually going to skyrocket the bitcoin price so I don't care what happens day to day, I'm not selling my coins from now on till it passes $350

I don't know why people are so excited about an auction they aren't taking part in. Not much happened after the previous ones and nothing will this time, you can go back to whatever you were doing.

I think that I want them to sell all the coins they have once at all, the auctions are not good at all for bitcoin, high vendor presure

Lol, it's just about an opinion... And yes, if you don't take part in something, I don't think that you are anywhere bound to not post any opinion regarding the same. Do you mean we should first just go there, bid for 2k BTC block, and then come here and start some discussion?

So, people talking about the Giants should become a Giant first, right?

It depends. Auctions always indicates how the price will go in the future.

There is a poll on www.onestopbrokers.com (http://www.onestopbrokers.com)  about "Will Digital Currencies become more popular in 2015?" you can share your view here by selecting from the 3 answers and see what other people believe.

and I see it's been 5 days bitcoin prices rise, is this from the effects of the auction?

Yesterday daily volume, considering only the 4 (*) western major exchanges, was more or less 90K btc .

If you take into in consideration also far-east (read: chinese) counterpart you'll reach a grand total of 520K btc.

So 50K represents less than 1/10th of the daily exchanged bitcoin even in a depressed market phase like this one.

That said, draw your conclusions.


(*) Bitfinex, Bitstamp, BTC-e and Coinbase

None of the bidders are stupid enough to pay market price (or MORE) for bitcoin auction. all the bidders will pay BELOW whatever the market is. so I think it won't affect current price, and yeah, noone wants to sell a ton of coins for less than they bought them for unless there was a huge tax write off or something.

Bidders are also clever in terms of $$$. Sure enough, they don't want to buy in at a loss and sell-off at a loss also, so I too doubt that the auction will affect the current price.

It already affected the price yesterday and I think before the auction took place...
As it was settled down a bit for the bids to be testified and again sent back up a bit showing some sort of correction...
I think it was more than 6 hours during which this happened, and who knows, those hours might be during the auction's run...