well, this is the first of more auctions by fbi
they have another 110k bitcoin approx?
why show his hand when he will want to buy again at future auctions one would imagine
future bidders now know lowballing will get them nowhere and they will have to buy on open market discreetly and keep price down (whats going on now) and will have to outbid serious people and funds in auction format
It's 144,000: https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgwI wouldn't count on an auction for these anytime soon, if ever. A motion has been filed for them to be returned to their rightful owner, who knows how long that will take. Even if he is found guilty, they will still have to prove that the coins were actually proceeds from Silk Road. Remember, Ross was a fairly early adopter, it is entirely possible that he could have bought them, or even mined them himself. Silk Road launched in February 2011, and he surely didn't think the project up, and create it in just a couple days. I would think it took him several months from inception to launch, and remember, just six months before SR's debut, one could've bought 144,000 Bitcoin for probably less than $5000. Not saying that this is what happened, just saying it's a definite possibility that he could've in fact acquired some, or all of those coins legitimately. After all, he did start the first legitimate Bitcoin Market with hedging and escrow. You probably wouldn't do that holding little to no Bitcoin. +1 Those coins will be tied up in the courts for years. Even if the US government eventually prevails after years of litigation they could then even be worth more that the US government’s official gold reserves. |
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Canada when it comes to buying. CaVirtex is a very good choice. One thing to keep in mind over the years is that the price in Canada for BTC tends to be lower when compared to the large worldwide exchanges (Now Bitstamp) when one also factors in the CAD / USD rate. A possible explanation is Canada's cold winters making it more cost effective to mine BTC in Canada than in other parts of the world. This makes Canada a net exporter of BTC and tends to depress the price in Canada when compared to world markets. The heat produced by a bitcoin miner is way more welcome when it is -35C outside than when it is 35C outside.  |
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Mr. Luntovsky admitted that there was evidence that Bitcoin had been used in Russia to pay for drugs and weapons.
I'm sure that every other currency has been used to buy drugs & weapons - let's ban those too........  There are some 2 million drug addicts in Russia and it is very easy to buy drugs in any part of that country. You don't need Bitcoins to do that. The business is mostly done by the Azeris, with the help of Tadzhik goons. The cops are extremely corrupt and they turn a blind eye to this. Even the members of Putin's United Russia party are deeply involved in drug trafficking. Same as any other country then........  Not really. One drug that is common in Russia is krokodil (Desomorphine) and to be blunt this has to be among the deadliest most addictive drugs around. The typical life expectancy of an addict is under 2 years. https://en.wikipedia.org/wiki/Desomorphine http://english.pravda.ru/hotspots/crimes/23-06-2011/118296-desomorphine-0/ http://lightbox.time.com/2013/12/05/the-worlds-deadliest-drug-inside-a-krokodil-cookhouse/#1 |
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Interesting coincidence with the US government auction. Looks like this auction got someone in the Kremlin to take notice of Bitcoin.
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OK, the III Supernode was practically a whole week experience for me, but now safely back in Finland. What has happened meanwhile?  Oh not much ..... US auction was completed successfully. California passes bill making crypto officially legal. Winklevoss ETF bags the symbol COIN, announces will be on NASDAQ, and gets listed on Bloomberg terminal 1800flowers announces they'll start accepting bitcoin. Newegg starts accepting bitcoin. Beyoncee and Jay-Z accept bitcoin for upcoming concert. IOW, just another boring couple of days .... EDIT: almost forgot! Kuwait finance firm suggests trading oil in bitcoins http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoinsVery true. Many of us were focusing on the auction but there was a lot more going on. |
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Are you prepared for 100 $ / BTC. ? ? ?
Actually more like 62.50 USD per BTC. If someone bought at the 2011 peak of 32 USD per BTC they would have first seen a drop of over 93% to 2 USD followed by a rise of 2,000% from the initial investment three years later to 640 USD. A similar performance purchasing at 1000 USD would mean a drop to 62.50 USD followed by a rise to 20,000 USD after three years. Of course past performance is no guarantee of future results. |
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I know I shouldn't be replying to an obvious troll thread but I think $650 isn't too shabby.
It's almost 10x what I paid for my first coins and almost 50% higher than what I paid for my last coins, and it seems ready for a big increase.
That's not a bad return in a year and a half despite missing out on $15 coins by being too cautious.
A little patience goes a long way.
The recent bear market from the over 1100 USD high is actually a very healthy correction. If the OP is trolling to get people to panic sell it is simply not working. |
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i bought in bitcoins last year at price $970 - $1020, not only suffering all these huge dumps but also haven't got a single penny interest of the stucking fund and still losing 40% !
i was planning to buy a luxury house if the price could reach $3000 !
it has been almost one year waiting, what the fuck is this now ? $650 is a joke! fxck !
This reminds me of when I started buying BTC in the fall of 2011 at over 5 USD per BTC and then watched my investment drop to just over 2 USD per BTC for a drop of 60%!. At the time I chose to HOLD, and buy more. how much have you made up after all? pretty big huh? i was planning to move to Irvine or Los Altos, houses there worth over $ million, $3k per bitcoin needed ! Yes I have done very well, because I kept over 60% of my BTC. My overall return is over 20,000% at the peak in late 2013. Over 10,000% now. I have been holding with small purchases since October 2013. I made the "mistake" of selling some BTC too soon in early 2012 in the 20 USD range at a profit of over 300%. It is a very wild ride to hold but well worth it over the long term. Edit: Not very sure about selling at 3000 USD, having been burned before by selling too soon. |
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i bought in bitcoins last year at price $970 - $1020, not only suffering all these huge dumps but also haven't got a single penny interest of the stucking fund and still losing 40% !
i was planning to buy a luxury house if the price could reach $3000 !
it has been almost one year waiting, what the fuck is this now ? $650 is a joke! fxck !
This reminds me of when I started buying BTC in the fall of 2011 at over 5 USD per BTC and then watched my investment drop to just over 2 USD per BTC for a drop of 60%!. At the time I chose to HOLD, and buy more. |
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OK, the III Supernode was practically a whole week experience for me, but now safely back in Finland. What has happened meanwhile? The US Government coins at auction went to a single undisclosed bidder The auction had over 60 bidders. Some were low ball Lots of rumours and no official data on the winning bid price One of the rumours / leaks put one of the losing bids (Second Market) at around 665 USD indicating the coins sold at a premium The market was very quiet with an overall bullish sentiment from the auction |
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One way or another, the US establishment will suggest not to. I hope they do it though.
Would Make sense for US to do this as they are sitting on 144k of DPRs coins that cant be sold to public until case is over. Image if the 29k coins just sold where traded for oil instead of at public auction. The scenario is that after being tied up in the courts for years the 144K BTC from DPR finally become the property of the US Government. In the meantime the price of bitcoin goes to say 2,000,000 USD in 2014 USD and the 144K BTC now owned by the US treasury are worth more than all the gold the US treasury "supposedly" owns. |
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Because these sites are US based and they will implement something new first in the "home" market. Ironically for a company like Overstock it is for the international sales where Bitcoin has the most potential.
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Gold, Silver etc = Personal animal powered transportation. Horse and buggy, donkey carts, elephants, oxen, etc.
Fiat = Centralized engine powered transportation Railways, steamships, and later airlines etc.
Bitcoin and other crypto currencies = Personal engine powered transportation, cars, light trucks, motorcycles etc.
Now go back to 1904 and consider where to invest: The big money is in the emerging automotive industry, some diversification yes the railway companies etc, and what to avoid is the horse and buggy, etc.
So my take is invest in Bitcoin and possibly some of the alts, for some diversification consider some quality fiat (short term US treasuries, etc.) and stay well away from gold and other precious metals. I know gold as money has been around for 5000 years or more, but the same was also true of horses as a means of transportation.
I am 99.85% in Bitcoin and 0.15% in Litecoin.
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i think the question is more when do these people start to realize and panic buy? Starting of course with the losing bidders. What the losing bidders will or will not do and the amount of the losing bids may actually be more relevant than the amount of the winning bids. According to Coindesk there were 63 bidders. http://www.coindesk.com/us-marshals-release-new-data-silk-road-bitcoin-auction/. The majority of these deep pocketed bidders walked away from this auction with not even a single satoshi. |
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Just bought a little more BTC. Increasing my BTC holdings by 0.1594%. Since the early fall of 2013 it has been holding (not hodling) and some small purchases. PS: I understand hodling to be something related to accurately timing market bottoms in order to sell. |
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The elephant in the room (or given this is about Australia hungry crocodile just under the water) is called GST.
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It is a great idea but where is this company located Kenya? the UK?. Providing a physical address and not using a private domain registration can go a long way to create trust. There is also no terms of service / legal on their site.
I know the BTC-E model but there for a while there was an actual physical address in Moscow, RU in the whois.
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... but how can one use this to trade now, not 2 years, 5 years, etc. down the road when these court cases eventually get settled?
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This is not an issue simply because the falling cost and resource requirements for digital storage and bandwidth far out-paces the growth in the blockchain.
By the way I run a full node on the following 10 year+ old laptop running Trisquel (GNU/Linux)
CPU Pentium M 1.8 GHz
RAM 1 GB
Hard drive 128 GB
10/100 Ethernet (no wifi)
... and yes it even has a floppy drive and its original Windows 2000 logo!
The size of the .bitcoin folder in under 32GB.
So if my decade plus old laptop works to run a full node so will much newer technology provided of course it is not crippled by propriety software and DRM.
One could run a full node on many tablets and even high end smartphones but one would have a install a GNU/Linux OS on the device and in the process rid the device of DRM infections.
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