MoreFun
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Activity: 1008
Merit: 1003
WePower.red
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June 27, 2014, 08:25:04 PM |
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Timeline: 1) Large Buyers are slowly accumulating Bitcoin as exchange depth allows, trying not to run the price up on themselves while they try to fill their accounts to their planned levels of exposure. 2) They find out about the SR Seized Coin auction. Some may have found out before the public announcement. 3) They stop buying on exchanges and save their funds for later bids at the auction. [ ... ]
No sane manager would change his firm's financial strategy on account of the possibility of winning a closed-bid auction -- especially one where every moderately rich bitcoin enthusiast in the world can bid. The chances of winning such an auction with a financially responsible bid price are way too small. From a business perspective, bidding at such auctions is an opportunistic activity: winning would be great, but one must be prepared to lose many times before scoring a win -- or even to lose every time. Irrelevant. Every single bidder that showed up at this auction has funds reserved for a bid of at least 1 lot of 3,000 coins. Many have funds for more, and some for all lots. Many losing bidders will be left without coins. At some point these bidders made the decision to be buyers of Bitcoin. This decision is unlikely to change as a result of this auction. So we can expect most of the buyers to move their bids elsewhere rather than remove them entirely. This is a great deal more purchasing power than is required for the purchase of these <30K coins. However, there will be more coins auctioned by the US government in the future. And there is an OTC market -- only the perma bull case asserts that these buyers need to buy NOW. More coins auctioned? Sure, but at a much higher price ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Raystonn
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June 27, 2014, 08:26:55 PM |
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Timeline: 1) Large Buyers are slowly accumulating Bitcoin as exchange depth allows, trying not to run the price up on themselves while they try to fill their accounts to their planned levels of exposure. 2) They find out about the SR Seized Coin auction. Some may have found out before the public announcement. 3) They stop buying on exchanges and save their funds for later bids at the auction. [ ... ]
No sane manager would change his firm's financial strategy on account of the possibility of winning a closed-bid auction -- especially one where every moderately rich bitcoin enthusiast in the world can bid. The chances of winning such an auction with a financially responsible bid price are way too small. From a business perspective, bidding at such auctions is an opportunistic activity: winning would be great, but one must be prepared to lose many times before scoring a win -- or even to lose every time. Irrelevant. Every single bidder that showed up at this auction has funds reserved for a bid of at least 1 lot of 3,000 coins. Many have funds for more, and some for all lots. Many losing bidders will be left without coins. At some point these bidders made the decision to be buyers of Bitcoin. This decision is unlikely to change as a result of this auction. So we can expect most of the buyers to move their bids elsewhere rather than remove them entirely. This is a great deal more purchasing power than is required for the purchase of these <30K coins. However, there will be more coins auctioned by the US government in the future. And there is an OTC market -- only the perma bull case asserts that these buyers need to buy NOW. No, the buyers themselves asserted they want to buy now simply by presenting themselves for this auction with a $200,000 deposit. Future auctions may not even happen. It will be years before the court case is over and all appeals are done. By then, even if he loses, there will most likely be an approved Bitcoin exchange with massive liquidity where the coins will be converted to USD and sent to the Treasury rather than having an auction.
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windjc
Legendary
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Activity: 2156
Merit: 1070
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June 27, 2014, 08:40:48 PM |
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Not sure I'm convinced of this rally. Feels like a relief rally. Hidden bearish divergences continue. I could see this going sideways a while, then failing. I think it might be a boring weekend. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Did you see it failing at $420 too? Just curious
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Ivanhoe
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June 27, 2014, 08:47:30 PM |
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Comment from shroom about sheep panicking in 3.........2..........1............ ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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wiak2
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June 27, 2014, 08:48:10 PM |
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What's going on ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Good buying chance before the auction is over and the bids start to leak!
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hyphymikey
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 27, 2014, 08:48:43 PM |
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What's going on ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Weak hands maybe? Fearing a drop soon to only buy back later at a loss?
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Bagatell
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June 27, 2014, 08:50:52 PM |
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What's going on ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Weak hands maybe? Fearing a drop soon to only buy back later at a loss? Tarders, tarding.
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soullyG
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 27, 2014, 08:51:02 PM |
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Dump seems local to Stamp, Huobi isn't budging
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magicmexican
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 27, 2014, 08:53:33 PM |
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Huge dumps by FBI? Omg
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aminorex
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Activity: 1596
Merit: 1029
Sine secretum non libertas
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June 27, 2014, 08:54:19 PM |
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However, there will be more coins auctioned by the US government in the future. And there is an OTC market -- only the perma bull case asserts that these buyers need to buy NOW.
The U.S. government is prevented from selling Ross Ulbricht's coins by a court order.
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Hypnoise
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June 27, 2014, 08:54:33 PM |
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what time left till the end of that thing
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wiak2
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June 27, 2014, 08:55:32 PM |
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This dump reeks of manipulation. Possibly driving the price down before the auction ends...
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kireinaha
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June 27, 2014, 08:57:20 PM |
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This isn't manipulation; somebody knows that the coins are selling at a discount and is dumping now.
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Untitled87
Member
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Activity: 70
Merit: 10
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June 27, 2014, 08:57:42 PM |
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This isn't manipulation; somebody knows that the coins are selling at a discount and is dumping now.
Lol, don't be so dumb.
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JayJuanGee
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Activity: 3822
Merit: 10738
Self-Custody is a right. Say no to"Non-custodial"
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June 27, 2014, 08:58:21 PM |
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This place has gone completely insane. Everyone is completely obsessed with what price the coins went for as if it's the most important thing ever in the history if Bitcoin yet NOT ONE person here has been able to answer this: Also i wonder you mention below or above market price. Is that the price the minute the auction closes?The price it was when the bids had to be in? The price on Stamp or somewhere else? Who decides what the market price actually is?
Could it be that noone really has a clue?
You idiots can't even tell what above or under the market is yet it's the only thing you talk about. As i said before this place is at the same level as the Btce trollbox. Just as dumb. Oh and in the meantime all you panic sellers probably sold more than there are coins in the auction out of fear of that same auction. That alone is one of the most retarded things ever. If someone needed more proof how dumb Bitcoin traders are, there you go. If shroomski would take half the posters off of ignore, then he may come to realize that his various questions have been asked and answered a number of times. Then again, maybe he would NOT realize the truth bc his vision seems to be skewed by his various themes that we are all idiots (except him, of course). ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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wiak2
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June 27, 2014, 08:58:27 PM |
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This isn't manipulation; somebody knows that the coins are selling at a discount and is dumping now.
No one knows that. FUD
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Newbie1022
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June 27, 2014, 08:58:41 PM |
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This isn't manipulation; somebody knows that the coins are selling at a discount and is dumping now.
Lol, don't be so dumb. B-I-N-G-O!!!! Welcome to the bloodbath!!!
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abercrombie
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Activity: 1159
Merit: 1001
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June 27, 2014, 08:59:12 PM |
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wiak2
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June 27, 2014, 09:00:10 PM |
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ChartBuddy
Legendary
Online
Activity: 2282
Merit: 1800
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 27, 2014, 09:00:45 PM |
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