Silk road bitcoins Auction - Bitcoin Price

[Jerry S]

it will go down for a long period of time but only after a price increase

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[aakashsangwan]

So what do you think is going to happen now  ? looking at this article seems like they are going to auction the bitcoins seized from silk road http://www.coindesk.com/us-marshals-bitcoin-auction-2015/

In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013 along with 29,655 BTC held in wallets on the online black market at the time of its closure.

The event will be the final auction involving bitcoins from the Silk Road investigation, with 44,336 BTC ($10m at press time) being offered up to prospective investors.

That's a decent amount of bitcoin honestly and It could affect bitcoin hardly , what do you think is going to happen ? we are in no need of another huge dump with all the XT drama and the panic going on but it's likely to happen ..

I think a big investment company is going to buy them and sit on them for 5 to 10 years and when the price is right slowly put them back on the market.
Tim Draper won the previous aunction and he did not dump them, he is holding them for at least 10 years and he knows the price is going to go way up.

most of those guys are ex goldman sach members arent they?

last time I heard some private mining called cucumber mining, which all of them are collected by ex-bankers.

I think they changed their domain, I forget. I know it was cucumber something though..

I think this are all ways of bitcoin fluctuations, by showing this article they want public to come out and sell in panic so that they can buy it at low rates and what you told like keep them for some long period. my view is what ever happens my target is 500$ for selling till then i will only accumulate bitcoins and keep it for future .

[mrhelpful]

it will go down for a long period of time but only after a price increase

so youre assuming like that guy above like how we have a over supply with coins.

if anything if I saw the supply coming out of no where, id be buying if people were selling the silkroad coin reaction.

[gentlemand]

I can see why people got antsy before the first auction. I don't think this one is barely worth discussing. The bidders will be of the highest calibre. We'll never know the price. None of the coins will ever hit any exchange.

Full stop.

[countryfree]

I'm not expecting this to change anything since it will be only one transaction, with the highest bidder a very different guy from the average bitcoiner. The scary thing would be that those BTC would be sold one at a time, but this isn't how they will do it.

[luciann]

I'm not expecting this to change anything since it will be only one transaction, with the highest bidder a very different guy from the average bitcoiner. The scary thing would be that those BTC would be sold one at a time, but this isn't how they will do it.

if they dont do it at one at a time, then you assume its just 1 big dump? lol.

thats such a shit storm waiting to happen, but whatever.. cant do much against people who have money to do these things like this.