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

[jbreher]

if not for the money why make such auctions in the first place?

Because pre-existing law says that all property they acquire as a result of confiscation due to illegal activity, must be auctioned.

[rjclarke2000]

I know it's been covered 100 times but when is the auction (how many hours time) and what will it do to the price?

Will they be dumped if bought low?

[ynef]

The winning bidder(s) will be notified Nov. 6.

I think that's when we'll start seeing some movement. Today could just go sideways or sideways until China wakes.

[tarmi]

Sure, boredom, but now with pepper...

Did you sell all coins at $2  or were they all on Gox

I will laugh in your face when ok ponzi goes down and takes all of your "sound money" to socialize loss of some 20x leveraged dood.

[rebuilder]

I know it's been covered 100 times but when is the auction (how many hours time) and what will it do to the price?

Will they be dumped if bought low?

How low do you think you'd need to bid to be able to eke a profit out of dumping that amount of coins on exchanges?

[ynef]

I know it's been covered 100 times but when is the auction (how many hours time) and what will it do to the price?

Will they be dumped if bought low?

They will not be dumped immediately because that would make no sense at all. If anything, the down movement from yesterday was a desperate attempt to make the coins cheaper for the auction.

China still wants up.

Auction will have not much impact because the volume of coins sold there is nothing compared to what's been moving around these last couple of days. It could only make bulls stronger.

[LFC_Bitcoin]

I know it's been covered 100 times but when is the auction (how many hours time) and what will it do to the price?

Will they be dumped if bought low?

Not sure if anybody can answer that bro. I guess it depends on the intention's of the winner(s), whoever it is.

[Parazyd]

I know it's been covered 100 times but when is the auction (how many hours time) and what will it do to the price?

Will they be dumped if bought low?

Really depends on who buys them. Remember the SilkRoad FBI auction? That was something that was a good thing for Bitcoin's price.

[InvestorPerson]

I know it's been covered 100 times but when is the auction (how many hours time) and what will it do to the price?

Will they be dumped if bought low?

How low do you think you'd need to bid to be able to eke a profit out of dumping that amount of coins on exchanges?

200$ max, as this is going back to prepump

[Gyrsur]

China triple bottom is in.  I don't think you're getting coins cheaper than this.  Rally probably resumes from here:

triple bottom in 15min timeframe. 

[yolalanda]

Sure, boredom, but now with pepper...

Did you sell all coins at $2  or were they all on Gox

I sold my coinz to intrepid investorz like yourself, c0ckr0ach, back when they were still worth money.
Was sorta worried for a bit that I'd be consumed with crushing guilt, fleecing you like that, but turns out I ain't got no scruples

[Sitarow]

[rjclarke2000]

I guess we just have to wait and see.

Am I the only one who was happy bouncing around in the 250-280 range and then it goes to 500 briefly and now I am a different person......

I now see 300s and I tut and sigh a bit.

[ynef]

I wonder if Gemini owners are one of the bidders.

[zercrypt]

yeah me too, liked the 200 to 300 range much more.

[SnokkomBTC]

next 24 hr are critical

[InvestorPerson]

I guess we just have to wait and see.

Am I the only one who was happy bouncing around in the 250-280 range and then it goes to 500 briefly and now I am a different person......

I now see 300s and I tut and sigh a bit.

many got burned in the past 12 hours, so they were definitely happier before  

and still more to burn as the hopium drug is still kicking it, people not able to realize they're slowly bleeding out

[Fatman3001]

next 24 hr are critical

nxt 24d critical

[ynef]

next 24 hr are critical

I'm reading the FBI's homepage for more info, but I'm not seeing when the announcement will be made. Sure on the 6th of Nov, but only the winning bidder will receive a notification. Any idea when it will go public?

On a side note:

1) How did the USMS get the authority to sell these bitcoins?

On January 27, 2014, the United States District Court for the District of New York entered a Stipulation and Order for Interlocutory Sale of Bitcoins. In this order, both the United States and Ross William Ulbricht agreed that “the United States, in its sole discretion, may sell any portion or all of these bitcoins, on a date or dates and in a manner to be determined by the Government.”

Ross was sentenced life in prison. I wonder what made him agree to let those coins be auctioned? He didn't even get years off or anything.

[yolalanda]

Oh noes!

http://s27.postimg.org/l7fay310j/Capture.pnghttp://www.manchestertimes.com/wp-content/uploads/2015/09/down-arrow-red.png

... Ross was sentenced life in prison. I wonder what made him agree to let those coins be auctioned? He didn't even get years off or anything.

US Marshals wily, tricked him!