[2014-06-15] SecondMarket will be forming a syndicate to buy Marshals BTC

[LiteCoinGuy]

SecondMarket will be forming a syndicate to buy Marshals BTC


https://twitter.com/barrysilbert/status/477931080889012224

https://bitco.wufoo.com/forms/participate-in-us-marshals-bitcoin-auction/


 

[kjlimo]

Surprise?  I think not...

The question is how many millions will they make that day?

And will they lock in that gain immediately, or will they let it ride?

Lastly, who else besides second market & the winklevoss twins will be there?

CampBX or Coinbase execs?   Bitpay execs?

Others?

[LiteCoinGuy]

Mark maybe...then he owns 830.000 BTC 

[RiverBoatBTC]

I figured that was gonna happen

[kjlimo]

Mark maybe...then he owns 830.000 BTC 

Hahahahah, perhaps this is a chance for Mtgox to get some coins on the cheap to help repay their debts???

[LiteCoinGuy]

Mark maybe...then he owns 830.000 BTC  

Hahahahah, perhaps this is a chance for Mtgox to get some coins on the cheap to help repay their debts???

no, no, you are wrong!


mark loves the sunset, he doesnt need to get something back, he already owns the btc  

https://twitter.com/magicaltux/status/478121705391403008

[skivrmt]

SecondMarket will be forming a syndicate to buy Marshals BTC


https://twitter.com/barrysilbert/status/477931080889012224

https://bitco.wufoo.com/forms/participate-in-us-marshals-bitcoin-auction/


 

Knew this was going to happen of course.  The question will be, how much will the final bid be?  Min bid is $200.  Doubt near that price.   My guess is ~90% of current market value.

[LiteCoinGuy]

From: bitcoinauction@secondmarket.com

Subject: IMPORTANT ANNOUNCEMENT – Opportunity to Participate in US Marshals Bitcoin Auction via SecondMarket

Body:

As you may be aware, the U.S. Marshals Service is planning to auction off approximately 30,000 bitcoins. SecondMarket intends on participating in this auction and is allowing qualified customers to submit orders for aggregation into bids to be submitted by SecondMarket in the auction process. Participation through SecondMarket will generally be simpler than direct participation in the auction:

    Smaller minimum bid size ($50k versus ~3,000 bitcoin blocks)
    Lower upfront capital commitment (bid amount versus $200k deposit plus proof of funds)
    Support for multiple bids at different bid prices with smaller minimum sizes
    Private participation in the auction (bidder identity will not be revealed to the U.S. Marshals office)
    Open to non-US investors

Full details and instructions can be accessed on the SecondMarket platform. To learn more and to participate, create an account on the SecondMarket auction portal. If you already have an account, simply log into the SecondMarket auction portal. Please note that an account on the SecondMarket portal is separate from the New Account Profile (NAP) that you may have filled out with us in the past.

The order deadline will be Thursday, June 26 at 12pm ET by which time all submissions must be complete including receipt of wire payments for bid amounts. All orders in place as of Thursday, June 26 at 12pm ET will be deemed fully binding and irrevocable.

Please note that ten percent of all auction fees received by SecondMarket from successful syndicate participants in the auction will be donated to the Electronic Frontier Foundation, a nonprofit organization supportive of bitcoin and more broadly dedicated to promoting technology, innovation and the protection of rights in the digital world.

Best regards,

SecondMarket and the Bitcoin Investment Trust bitcoinauction@secondmarket.com

Important Investment Considerations Investments in bitcoin are highly speculative. This document is intended for those with an in-depth understanding of the high risk nature of alternative investments and an investment in bitcoin may not be suitable for you. This document may not be distributed in either excerpts or in its entirety beyond its intended audience and SecondMarket will not be held responsible if this document is used or is distributed beyond its initial recipient or if it is used for any unintended purpose. This document is not a solicitation for an order, and there is not enough information contained in this message in which to make an investment decision and any information contained herein should not be used as a basis for this purpose.

[bryant.coleman]

Mark maybe...then he owns 830.000 BTC 

What will he do with that many coins? He will be looking for ways to convert some of his coins to fiat right now, and not the other way around. His monthly rent alone is around $15,000 according to some posts here (and I don't think that the hotel accepts Bitcoin).