Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[jonoiv]

so....

anyone know, how much coin left to be auctioned next month

There is no date set, but they still have some 94'000 BTC to auction. From the way they split the coins today, it seems that they are planning another 50'000 BTC auction next, and then presumably one for the final 44'000.

I thought they seized 144,000 total?

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[1715101816]

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[JorgeStolfi]

Do i understand correct that if you get disqualified you will lose your initial deposit of 150.000$?
that would be a weird way to throw.away 150k $

Yes, that's the idea. AFAIK, you lose the deposit onnly if your bid is called and you default. The USMS doesn't want people to bid first and then scramble to find the money later.  AFAIK, to enter a syndicate you must send the full value of your bid to the organizers in advance -- for that reason.

If that 2000 BTC lot was held because of a default, the bidder may have miscalculated the time neded for a wire transfer, or may have been counting on some expected revenue that did not materialize in time.  Who knows.

[madmat]

so....

anyone know, how much coin left to be auctioned next month

There is no date set, but they still have some 94'000 BTC to auction. From the way they split the coins today, it seems that they are planning another 50'000 BTC auction next, and then presumably one for the final 44'000.

I thought they seized 144,000 total?

144,000 - 50,000 = 94,000
Wow!!!

[empowering]

I hear ya Jorge, loud and clear
Yeh, that 52k + change does not fit the pattern.

unless 1 lot did not sell, or unless some wise guy has not met payment deadline, then it makes sense...

On Friday, December 5, by 5:00pm EST, the USMS will notify the winning bidder/bidders that their bid/bids has/have been selected. Any winning bidder must send the purchase price funds (less the deposit amount) by a wire transfer originating from a bank located within the United States and provide a wire transmittal receipt to the USMS by 2:00pm EST, on Monday, December 8, 2014. [ ... ] Failure to provide the USMS with a copy of the wire transmittal receipt by the deadline will result in disqualification, forfeiture of the deposit, and award to another bidder.

If one bidder does not pay by the due date (today 2:00pm EST) , they will have to notify the highest bidder who was left out of the first round, and obviously give him a couple of days to wire in the payment.  

So it may be that one of the bidders who won a 2000 BTC block defaulted, and the USMS has transferred the 48 000 BTC to those who paid, and didn't bother to split off the 2000 BTC chunk yet, waiting for the next bidder to pay.

By the rules, each bid form could bid for any number of 2000 BTC 'A' blocks, all at the same price, and any number of 3000 BTC 'B' blocks, all at the same price.   So, a syndicate that wanted to place bids for many blocks, all at different prices, would have to submit a number of forms, each for 1 'A' block and 1 'B' block.  It seems likely that the USMS would want to make a separate transfer for each form received, even if two forms were submitted by the same person.  So that may explain why there are nine 5000 BTC chunks.

Do i understand correct that if you get disqualified you will lose your initial deposit of 150.000$?
that would be a weird way to throw.away 150k $

Maybe someone fat fingered the occasion... maybe someone in a bank somewhere is sweating their balls off waiting to get fired, maybe a lawyer somewhere is screaming down the phone to a bank manager, and maybe somewhere a bidder is begging a representative of the USMS to give them one more day.... or maybe the dog ate his wire transmittal receipt. (does Tim D  have a dog?  )

Eitherway who knows, but if someone did mess up..... ouch.

Edit- Yes that is my understanding, you forfeit the deposit. (remember this is the gubermint we are dealing with, big stick, or carrot which ever way you want to look at it)

[JorgeStolfi]

I thought they seized 144,000 total?

They seized ~30'000 from SilkRoad servers, and were able to auction them right away.  And seized another 144'000 from Ross's personal laptotp, so they are still disputing whether they are his or SilkRoad's; but both sides agreed to auction them now and continue disputing over the money.

[jonoiv]

so....

anyone know, how much coin left to be auctioned next month

There is no date set, but they still have some 94'000 BTC to auction. From the way they split the coins today, it seems that they are planning another 50'000 BTC auction next, and then presumably one for the final 44'000.

I thought they seized 144,000 total?

144,000 - 50,000 = 94,000
Wow!!!

A word I think you missed out the word (Total)



Was the total seized 144 or not?

[empowering]

so....

anyone know, how much coin left to be auctioned next month

There is no date set, but they still have some 94'000 BTC to auction. From the way they split the coins today, it seems that they are planning another 50'000 BTC auction next, and then presumably one for the final 44'000.

I thought they seized 144,000 total?

144,000 - 50,000 = 94,000
Wow!!!

A word I think you missed out the word (Total)



Was the total seized 144 or not?

not

[jonoiv]

I thought they seized 144,000 total?

They seized ~30'000 from SilkRoad servers, and were able to auction them right away.  And seized another 144'000 from Ross's personal laptotp, so they are still disputing whether they are his or SilkRoad's; but both sides agreed to auction them now and continue disputing over the money.

So the original 30k was the first auction.  

Does anyone have the address for the remaining coins still held by the FBI?

Maybe he wanted to sell at the bottom of the market, to make his "drug empire" worth less in the court room

[jonoiv]

not

Thanks.

[NotLambchop]

...  And seized another 144'000 from Ross's personal laptotp, so they are still disputing whether they are his or SilkRoad's; but both sides agreed to auction them now and continue disputing over the money.

This is just a technicality.  When you're popped for running dope and there's a suitcase of money in your car, arguing the cash was obtained by legit means is pointless.  Even the car, which is in your wife's name and takes your kids to soccer practice, gets auctioned off at a US Marshals auction, because fact

[phoenix1]

I thought they seized 144,000 total?

They seized ~30'000 from SilkRoad servers, and were able to auction them right away.  And seized another 144'000 from Ross's personal laptotp, so they are still disputing whether they are his or SilkRoad's; but both sides agreed to auction them now and continue disputing over the money.

Actually right to sell and timing of sales was passed from Ross to USMS early this year. Its in the 'advert' for this auction. USMS have had full control of them for a while and still do.

EDIT : probably part of a deal ...

[JorgeStolfi]

About "why can't we see the USMS transferring Draper's 2'000 BTC lot":

According to the Mirror venture, which is funded in part by Draper, he entered the auction through their syndicate.  As explained above, a syndicate would probably submit several bids for 2000+3000=5000 BTC, and perhaps one for 2000 or 3000 BTC

[JorgeStolfi]

Actually right to sell ad timing of sales was passed from Ross to USMS early this year. Its in the 'advert' for this auction.

Indeed, "on January 27, 2014".  I hadn't noticed that.

[ChartBuddy]

Explanation

[galdur]

[ShroomsKit]

Does anybody know the new deadline when something is gonna happen?
We need more deadlines!

[adamstgBit]

Does anybody know the new deadline when something is gonna happen?
We need more deadlines!

25th of December

[NotLambchop]

The Bitcoin Guard is here to help!

[JorgeStolfi]

Does anybody know the new deadline when something is gonna happen?
We need more deadlines!

December 24, 23:59:59 is the deadline to enter deeds into Santa's good kid / bad kid database.

[JorgeStolfi]

Is that the new Blockchain.info logo?