frezed coins ?

[trogutithi]

there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties

if i remember correctly Silkroad admin alone had 300+ BTC..

now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?

[pooya87]

no and i am saying it now with 100% certainty. because in the years that i have been involved with bitcoin i have seen many of these auctions an most of them are huge numbers that your 1000BTC is nothing compared to them (like 50,000BTC) and none of these many auctions have ever had any effect on bitcoin price.

example from 2015, 50,000BTC: https://www.forbes.com/sites/katevinton/2015/03/10/three-anonymous-bidders-take-home-50000-bitcoin-in-silk-road-auction

[davis196]

no and i am saying it now with 100% certainty. because in the years that i have been involved with bitcoin i have seen many of these auctions an most of them are huge numbers that your 1000BTC is nothing compared to them (like 50,000BTC) and none of these many auctions have ever had any effect on bitcoin price.

example from 2015, 50,000BTC: https://www.forbes.com/sites/katevinton/2015/03/10/three-anonymous-bidders-take-home-50000-bitcoin-in-silk-road-auction

Yes,but bitcoin was 300 USD back in 2015.Now it`s around 2500 USD.
50,000 btc is a small part of all the bitcoins worldwide,but the publicity around such actions might panic many
newbie btc traders and holders.By the way,i don`t know why the bidders of the Silkroad auction should be anonymous?

[kwukduck]

no and i am saying it now with 100% certainty. because in the years that i have been involved with bitcoin i have seen many of these auctions an most of them are huge numbers that your 1000BTC is nothing compared to them (like 50,000BTC) and none of these many auctions have ever had any effect on bitcoin price.

example from 2015, 50,000BTC: https://www.forbes.com/sites/katevinton/2015/03/10/three-anonymous-bidders-take-home-50000-bitcoin-in-silk-road-auction

Only a fraction of seized coins were auctioned. When they decide toal auction the rest, which i believe i is around 500.000 btc total it will destroy the value.

[digaran]

So you saying if some body wants to auction their coins just because they're idiots and many others being as smart as they are trying to buy with the lowest price possible will destroy the value? so you guys want the price to always stay high no matter what happens and who is dumping? well if that ever happens then we know it's a pure manipulation, since when people, individuals around the world buy and sell without even knowing each other, that's when prices swing, that's natural fluctuations and nothing to be worried about, if I had 5M coins and wanted to dump all then I'd be lowering the price significantly but that's it, after I dumped them I'd have no more coins to dump, that is my loss in the long run 3+ years long I mean.

[CoinCidental]

no and i am saying it now with 100% certainty. because in the years that i have been involved with bitcoin i have seen many of these auctions an most of them are huge numbers that your 1000BTC is nothing compared to them (like 50,000BTC) and none of these many auctions have ever had any effect on bitcoin price.

example from 2015, 50,000BTC: https://www.forbes.com/sites/katevinton/2015/03/10/three-anonymous-bidders-take-home-50000-bitcoin-in-silk-road-auction

Only a fraction of seized coins were auctioned. When they decide toal auction the rest, which i believe i is around 500.000 btc total it will destroy the value.

Nonsense..... As usual

[mobnepal]

there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties

if i remember correctly Silkroad admin alone had 300+ BTC..

now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?

There are around 17 million bitcoin in circulation and daily bitcoin trading volume is more than 1000K bitcoins so sell wall of those 1000 BTC might get eaten up in few seconds. I don't think that can create any significant volatility in bitcoin price.

[jc89]

there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties

if i remember correctly Silkroad admin alone had 300+ BTC..

now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?

NO.

The auctioned Bitcoins will be sent to the personal wallet of the person/s who won the bidding. And by definition, a peer-to-peer transaction of Bitcoin will not affect the price since it never went through the market before being held again. So there is no need to worry about this stuff. However, if the winning person sell his Bitcoins then a huge decrease will surely occur (supposing that he sold a large portion which is very unlikely).

[Gotottack]

there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties

if i remember correctly Silkroad admin alone had 300+ BTC..

now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?

It will have no effect, a total of 1,300 bitcoins released back to the economy will not do so much. As of June 1, 2017 there are 16 million bitcoins in circulation already. So what will a measley 1,300 do to the economy of bitcoins? That's just a really small fraction and will not terribly affect the bitcoin prices. Unless if those coins create a big enough buzz then it could, but there would really be little effect.

[Febo]

there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties

if i remember correctly Silkroad admin alone had 300+ BTC..

now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?

This GOVT agencies could slowly pull themselves together and start HOLDING. If they would not sell and hold for next 10 years they might change world with all the money they will possess. They could make a real 1984 society. Control everything with all grabbed money.

[pooya87]

no and i am saying it now with 100% certainty. because in the years that i have been involved with bitcoin i have seen many of these auctions an most of them are huge numbers that your 1000BTC is nothing compared to them (like 50,000BTC) and none of these many auctions have ever had any effect on bitcoin price.

example from 2015, 50,000BTC: https://www.forbes.com/sites/katevinton/2015/03/10/three-anonymous-bidders-take-home-50000-bitcoin-in-silk-road-auction

Yes,but bitcoin was 300 USD back in 2015.Now it`s around 2500 USD.
50,000 btc is a small part of all the bitcoins worldwide,but the publicity around such actions might panic many
newbie btc traders and holders.By the way,i don`t know why the bidders of the Silkroad auction should be anonymous?

sorry i missed your comment before
that link was the first thing that popped up in google. there are many more with different amounts. usually the news links report them in USD equivalent value which is always of tens of million at least. and as i said before none of these auctions have ever caused any panic in the community and never had any effects on the price.
someone who buys that much bitcoin has some purpose, and that purpose is definitely not to dump it on an exchange to get the fiat out for a maybe profit.

i don't know about the reason for anonymity though.

[gentlemand]

The one and only time seized coins caused a panic was the first Silk Road auction. I think it was 30,000 coins.

For some reason an awful lot of people got it into their head that someone with several million dollars would buy the coins, go straight to a piece of shit exchange that you wouldn't trust your welfare cheque to, and dump it all instantly.

Weirdly enough it didn't pan out like that. There were multiple auctions afterwards and apart from the FUDing tossers, no one paid it any more attention.

There are other seizures out there but they've been much smaller and I really don't see how those amounts could ever happen again.

The last one to panic over is the 202,000 Mt Gox coins. I'm not sure they'll be swapped for fiat. If they are Cumberland Mining, a big OTC broker, have already offered to do a deal on all of them so they'll never go anywhere near an open market.