Ernst n Young to Auction Victoria Police Bitcoins

[Bitcoinpro]

http://www.newsweek.com/australia-auction-115-million-confiscated-bitcoin-464776

25,000 BTC

11.5 million dollars

[LiteCoinGuy]

not a big deal. should not move the price.

[Bitcoinpro]

not a big deal. should not move the price.

hopefully it keeps it stable if anything,

price feels like it really has alot of upward

momentum, i really want it to stay sub

$1,000 cause otherwise i have to move

my estimates,

[Kprawn]

Well it will be a good thing, because it will put those "idle" Bitcoins back into the hands of the Bitcoin community. I would much rather have those coins in the hands of a Bitcoiner, than in the hands of

some government organization. Yes, it will influence the price a little bit, but it will be temporary... those coins are not enough to make a huge impact. The Silkroad coins on the other hand, made a

bigger ripple in the pond. 

[pereira4]

not a big deal. should not move the price.

hopefully it keeps it stable if anything,

price feels like it really has alot of upward

momentum, i really want it to stay sub

$1,000 cause otherwise i have to move

my estimates,

I think a lot of people will commit a massive mistake when we go $ 1,000+ again, because they will sell due being near to ATH + 1k being a classic psychological barrier, they will expect a big correction to get back in, the problem I see with this is, a lot of people will be left behind in this move, because the correction may not be as big as some people expect. Sure, there is probably money to be made by shorting BTC at 1k, but there is a lot to lose if you are left behind in the middle of the next big upraise which could be anywhere beyond last ATH.

[lumeire]

They should just let it slide on the market selling it by themselves, bit by bit. But yeah, it's the rule for these.

Anyone has news on how the winning bidders for the Silk road auction used their btc? If they're speculating up till now, they've already got huge profits I suppose.

[Bitcoinpro]

They should just let it slide on the market selling it by themselves, bit by bit. But yeah, it's the rules for these.

Anyone has news on how the winning bidders for the Silk road auction used their btc? If they're speculating up till now, they've already got huge profits I suppose.

nah price was above current i think, they also paid a premium, though they will

be rubbing their hands together now at the price strength if they held onto some

of it

[LFC_Bitcoin]

They're doing it very close to the halving which is supposedly having consideration for the market. I guess it does as any dump will be absorbed by the halving pump, that's the theory any way.

[aso118]

Is Tim Draper going to step up again? 
He shouldn't have any difficulty in absorbing these coins.