Hello all,
This is my first foray into this part of the forum. I am a bit terrified
But nevertheless, here is my take on the proposed FBI selloff, assuming they get around to it in 2014, given the tax situation.
I think the FBI auction will be an invite-only affair. The FBI will want rid of Bitcoins, but they'll still try to capitalise on what they see as a momentary internet phenomenon.
So we'll have alot of suits, with serious buying power, bidding on something that the FBI will struggle to explain the worth of. Not all the suits will be ignorant, and the prices will be low - very low in comparison to the current market.
Some will dump. This is inevitable. This may briefly drive down the price.
More will save them, I think. And it's what the savers do that will determine the market impact.
If someone powerful gets hold of alot of BTC and can put his/her weight behind them to drive them back THROUGH the commercial system, BTC could all of a sudden have real, serious, high-street presence. Imagine if the Gap started taking BTC, for example?
The price would rocket. The suits who dumped would have made money, sure. But the people who are still in it for the long run could end up the real winners.
Thoughts?
Rit./
