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maok
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June 19, 2014, 11:26:07 PM |
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you can buy all 10 blocks, but the price will be the same
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adamstgBit
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Activity: 1904
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June 19, 2014, 11:27:45 PM |
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I read the auction's terms: you cant place multiple bids (!) and the bids are sealed.
So nobody can place ten bids hoping to get all the lots? you can place bids on all the block but only 1 bid and you don't get to see other peoples bids. |
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Bitcopia
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June 19, 2014, 11:27:52 PM |
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In more recent happenings, does anyone else notice Huobi not giving a damn about that dump?
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adamstgBit
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June 19, 2014, 11:29:01 PM |
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In more recent happenings, does anyone else notice Huobi not giving a damn about that dump?
you must be using bitcoinwisdom |
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maok
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June 19, 2014, 11:29:46 PM |
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you don't get to see other peoples bids.
exactly why they'll offer 110%, but the winner will be the one that offers 120% |
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Bitcopia
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June 19, 2014, 11:29:55 PM |
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In more recent happenings, does anyone else notice Huobi not giving a damn about that dump?
you must be using bitcoinwisdom Yep, what's up with btcwisdom? Broken? EDIT: Yep. That explains a lot.  |
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keewee
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June 19, 2014, 11:30:10 PM |
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I read the auction's terms: you cant place multiple bids (!) and the bids are sealed.
So nobody can place ten bids hoping to get all the lots? you can place bids on all the block but only 1 bid and you don't get to see other peoples bids. That sounds like a tender process, not an auction |
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fonzie
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June 19, 2014, 11:30:20 PM |
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In more recent happenings, does anyone else notice Huobi not giving a damn about that dump?
huobi is@ 3740-3750(down from 3800 in the last 2 hours) and was more or less leadin the dump? |
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JorgeStolfi
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June 19, 2014, 11:31:11 PM |
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The problem with SR coins is not that they'll get dumped, but that those investors who would normally buy bitcoin using 3rd party exchange operators are now NOT investing anymore and they simply wait to bid.
There is no way of telling how many bidders there will be and what will be the winning bid. At this point, I would guess 10% probability that any given bidder will get any coins at all. So, buying at the auction cannot be part of any strategic planning. For the bidders, it will be an opportunistic shot in the dark -- may provide juicy extra gain if it succeeds, but most likely it will not, so the bidder would have to plan for business as usual. The main impact would be for the "poorest" bidders who will have to set aside the auction money until the bids are opened, and thus may be forced postpone their regular buys. Plus there are even more investors looking for the 144K auction
But has the court cleared that auction yet? (I know that DPR hasn't exhausted the appeals yet, but I vaguely recall reading somewhere that the court had authorized the auction, with the understanding that DPR would be refunded in dollars if he wins on appeal. Is this correct?) If that auction has to wait for the appeals, then it may be a long way off -- a year, maybe? |
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adamstgBit
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June 19, 2014, 11:32:51 PM |
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666 coming soon.
606.6 will confirm 666's inevitability
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crazyearner
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June 19, 2014, 11:33:32 PM |
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The problem with SR coins is not that they'll get dumped, but that those investors who would normally buy bitcoin using 3rd party exchange operators are now NOT investing anymore and they simply wait to bid.
There is no way of telling how many bidders there will be and what will be the winning bid. At this point, I would guess 10% probability that any given bidder will get any coins at all. So, buying at the auction cannot be part of any strategic planning. For the bidders, it will be an opportunistic shot in the dark -- may provide juicy extra gain if it succeeds, but most likely it will not, so the bidder would have to plan for business as usual. The main impact would be for the "poorest" bidders who will have to set aside the auction money until the bids are opened, and thus may be forced postpone their regular buys. Plus there are even more investors looking for the 144K auction
But has the court cleared that auction yet? (I know that DPR hasn't exhausted the appeals yet, but I vaguely recall reading somewhere that the court had authorized the auction, with the understanding that DPR would be refunded in dollars if he wins on appeal. Is this correct?) If that auction has to wait for the appeals, then it may be a long way off -- a year, maybe? Its not a year off their in the final stages of it and once they have all the people for the auction then they will be sold off and related to the people within that auction and no doubt be held and sold of in small chunks to not effect prices or they will end up playing it very smartly and gain a lot from it even tho buying at the price of their buy in |
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bitcoinsrus
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June 19, 2014, 11:35:34 PM |
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okay, lets say one of you guys really wanted the coins. would you put a sealed bid at market price (hoping no one else wants to pay retail). or would you pay 10-20% more or less?
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maok
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June 19, 2014, 11:37:39 PM |
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The problem with SR coins is not that they'll get dumped, but that those investors who would normally buy bitcoin using 3rd party exchange operators are now NOT investing anymore and they simply wait to bid.
There is no way of telling how many bidders there will be and what will be the winning bid. At this point, I would guess 10% probability that any given bidder will get any coins at all. So, buying at the auction cannot be part of any strategic planning. For the bidders, it will be an opportunistic shot in the dark -- may provide juicy extra gain if it succeeds, but most likely it will not, so the bidder would have to plan for business as usual. The main impact would be for the "poorest" bidders who will have to set aside the auction money until the bids are opened, and thus may be forced postpone their regular buys. Plus there are even more investors looking for the 144K auction
But has the court cleared that auction yet? (I know that DPR hasn't exhausted the appeals yet, but I vaguely recall reading somewhere that the court had authorized the auction, with the understanding that DPR would be refunded in dollars if he wins on appeal. Is this correct?) If that auction has to wait for the appeals, then it may be a long way off -- a year, maybe? those investors won't wait 1 year thats for sure. I don't know the current status off the appeal but I do know the USMS mentioned those 144K being offered at an separate auction at a later date so those investors who would normally want to invest they probably wait to see if that auction will be set in a reasonable time frame. |
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MatTheCat
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June 19, 2014, 11:40:18 PM |
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Do please tell us Mat, what is the going market rate for bitcoins which are certified by the U.S. government to be free of legal encumbrances?
What, can't find any?
Hmm. Perhaps they are, should we say, rare?
Where do I start? Erm.....I acknowledge that you are not alone in this belief, but do you realise the lunacy of what you are saying? Only on this forum, would you find a consensus that thinks there is a difference between Bitcoins seized and sold by a Government and those bought and sold on an exchange or in OTC trades. Do you think that one day we will have YouTube auctions selling 'government sanctioned' BTC at a premium over spot? Will they come with little certificates of authenticity? Will they be sold in little virtual display cases? |
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Erdogan
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June 19, 2014, 11:48:06 PM |
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I agree. Typical wall street slang. They will soon come. You will notice it also on the price. You really think it'll be like that? Maybe later, but definitely not when they start. Expect surprises. It can be argued all ways. This is all Mumbo Jumbo to me, and I do NOT understand what I supposedly said.    I thought so too, but some comments half way persuaded me it was legit. This is absurd! |
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JorgeStolfi
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June 19, 2014, 11:56:31 PM |
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what is the going market rate for bitcoins which are certified by the U.S. government to be free of legal encumbrances?
Freshly mined coins are almost as good, aren't they? So we may get a clue from the price that miners get in private sales. Are there any examples known? (The government may perhaps harass an investor for buying from a certain miner that they don't like, but if the government failed to blacklist that miner beforehand, the investor would have good defense in court. Like trading with some unfriendly government before trading sanctions are in place -- one cannot get prosecuted for that.) However, note that the "cleanliness" of those auctioned coins extends only to the acquisition by the winning bidder. Once the coins are out of government's custody, they are not substantially different from any other coins. If that bidder is later found to be a criminal, those coins may be seized again, especially if he paid the USMS with revenue from crimes. If someone else buys some coins from him before this second seizure, those coins would be no "cleaner" than coins bought from DPR before the SR bust. |
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CoinDox
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June 20, 2014, 12:00:00 AM |
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Guys what is happening with bitcoinwisdom? It is all outa whack.
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ChartBuddy
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June 20, 2014, 12:00:52 AM |
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Richy_T
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June 20, 2014, 12:02:29 AM |
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okay, lets say one of you guys really wanted the coins. would you put a sealed bid at market price (hoping no one else wants to pay retail). or would you pay 10-20% more or less?
If I wanted 3k coins, I would contact a miner and attempt to negotiate a price a little under market. If this auction appeared on my radar whilst I was considering it, I'd probably throw in a low-ball offer on the off-chance. Thus I think these coins will sell at a discount. |
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