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Author Topic: BITCOIN AUCTION NEWS  (Read 3736 times)
Guido
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June 27, 2014, 10:27:38 PM
 #21

OP: Activity: 1

is all you need to know  Roll Eyes

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Ron~Popeil
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June 27, 2014, 10:44:17 PM
 #22

Yeah this person has 0 credibility. These are either assumptions or out right lies. Either way if there is a correction it will be a buying opportunity. 

galbros
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June 28, 2014, 12:19:38 AM
 #23

Only $100 below current market would be amazing.

While the OPs low post count is suspicious I have to agree with QA.  This is a large amount of coins and can only be bid on by people who could verify, what 200K in cash, go through an extensive vetting process and swear not to be affiliated with silk road.    That cuts down on the people who can bid and I'll be surprised (but VERY happy) if the coins don't sell at a discount to market.

Oh, and as a bonus, US government bungling allowed many of the bidders to know who the other bidders are so there is the possibility of collusion.

Hopefully I'm wrong.

Good Luck!
bitbouillion
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June 28, 2014, 02:01:05 AM
 #24

Overall it seems like the median bid rate for the majority of the BTC on auction will be about $100-$150 below the current market value of $589.50.

So since the ten bids of my fellow billionaire friend were $100 above the current market value he is the lucky winner now? Wink

ThomasCrowne
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June 28, 2014, 02:06:59 AM
 #25

If what the OP says is in fact true...get ready for a whole lotta bitcoin cheap bitcoin soon is my prediction!

bitbouillion
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June 28, 2014, 02:49:01 AM
 #26

If what the OP says is in fact true...get ready for a whole lotta bitcoin cheap bitcoin soon is my prediction!

Soon? .... If the facts are true, what the bitcoin price is waiting for?

krak3n
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June 28, 2014, 03:38:34 AM
 #27

I imagine these bidders are smart people. Which means not one of them would dump the markets with coins and lower the value.

I imagine there's going to be a slow release of coins over time, so that would mean a slow devaluing over the next few months.
gjgjg
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June 28, 2014, 09:48:37 AM
 #28

I imagine these bidders are smart people. Which means not one of them would dump the markets with coins and lower the value.

I imagine there's going to be a slow release of coins over time, so that would mean a slow devaluing over the next few months.

The amount of BTCs at auction was only 1 day's worth of traded volume on avg (maybe i misremembererered that but you can find the info on blockchain, its a small portion of traded BTC per day anyway).
If they now sold them into fiat on an exchange at a fraction per day (say <5% of them) it would barely affect the price. They would need to dump most of them at once to really affect the price, and that would take a coordinated effort of all the winning bidders.

Its all speculation and hype, the only real impact this story can have is the psychological effect of the price they sold at (ie if they auctioned for 650$+ per btc then it would probably cause a small buy rally and viceversa) and also who bought them. If we find out that Goldman sackballs bought them all up for 800$ per coin then we'd be using mBTC format pretty soon. But if coins remain unsold and the ones that did sell went for 450 then we'd probably see a dip. Lets find out what we can on Monday anyway. End.

 

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