downtime soon ?

[KnightElite]

In my thinking that won't make a big impact, because the entire mined coins were considered while the demand to supply ratio is calculated. So it is hold anywhere doesn't matter and when it comes to circulation the price might rather grow than decreasing.

Yah you're answer is correct. We don't need to worry about to that situation, there is no effect to the value of the bitcoin. I know the value will still have a good progress in the near future.

[tosmartak]

With the current market cap, I am not sure that would really make any difference or have any tangible effect on bitcoin's price. Nevertheless, is this going to be a public auction or what? I still don't understand how the auction is going to be done. I am not seeing any serious article on this as well online to get details. Can OP please share with us how he came across this?

[iluvpie60]

Just for one exchange the amount of coins sold at the same time(a dump)can be over 5,000 BTC within minutes to 30 minutes. On a daily basis 300 BTC is traded across all exchanges combined probably every few minutes. At just one exchange selling 300 at a time might cause a few dollar price drop for an hour.

[Idrisu]

1000bitcoin is not enough to cause a downtime in bitcoin price. The amount is too low to create any significant effect on bitcoin price. Many trade and miners I know are holding over that amount in their wallet and some have even converts it to dollars before without any effect on the market. Op thank you for making us know about this option.

[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 ?

Why is this thread posted on both Economics and Speculation Board? Link to Speculation Board: https://bitcointalk.org/index.php?topic=1989471.0

I'll answer this thread again.

The auction will not affect the price of Bitcoin since the Bitcoins won will not be available in the market, instead it will just be transferred to the personal wallet of the winner. Just a mere peer-to-peer transaction and p2p transactions never affected the price at all. However, if a large portion of the Bitcoin won was sold then a big dump will definitely occur.

[hase0278]

I believe that would not cause a downtime in price, it will just cause a big dump that is very normal in cryptocurrencies when their values are high. But if the winner would just hold those bitcoin, then nothing will ever happen because they will just send all those bitcoins to the winner, nothing more. Maybe those coins are what cause the correction today because by now I think they have already been auctioned.

[pearlmen]

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 ?

A 1000btc dump into the market is a lot as at now to cause some shake in the market but not enough to take a massive hit. We will have some downward trend in price but it will bounce back. Even with that, I still feel we will still do well above $2000 mark.

[Rahar02]

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 ?

Unlikely that this will happen.

This is the address in question:https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX.

The auctioning off of coins happened long ago, it's not even news right now. I thought maybe i missed something because I wasn't that active recently, so not able to keep up with the recent news but revealed no major auctioning happening in the near future.

Plus, a few thousand coins wouldn't hurt at all. Trading volume is hundreds of millions of dollars per 24h.

No. If there is a dump now it's because of a pre SegWit uncertainty. Many people are also dumping to add to the wave and cause more panic, so that they can buy more and be ready for a pump in a month or two.

Auctions used to be a big thing, but history has shown that people who buy at auctions don't dump. There was never a huge sell off after the auction, always before it and i'm sure there won't be one now. These people are not trying to buy at auction to earn a few $ per coin, they are hoping for a pump and millions in profit. You always sell when it's rising, when the liquidity is high and the buyers can take it without noticing.

Agreed, market uncertainty before a fork is always the major issue that contributes to a price nosedive.

I just knew about silkroad seized coins  BTC17.36993672 but still wondering how could Op stated it approximately more than BTC1000 and it was long time ago when auctioned happen? So, we would appreciate if Op mentioned some links about seized bitcoin will auctioned soon? This is what I've got https://www.google.com/amp/s/amp.businessinsider.com/bitcoin-price-government-auction-winners-2017-5 and those auction happened few years ago. And people who got those coins won't sell all of it at once obviously, so we can't expect huge dump in the nearly future.

[Caladonian]

I believe that would not cause a downtime in price, it will just cause a big dump that is very normal in cryptocurrencies when their values are high. But if the winner would just hold those bitcoin, then nothing will ever happen because they will just send all those bitcoins to the winner, nothing more. Maybe those coins are what cause the correction today because by now I think they have already been auctioned.

yeah right those who able to buy those coins will be the winner in the long run as we knew that 1000 btc is just a small percentage with the current numbers of circulating right now and even that numbers already been sold it will still survive and there's no big impact the more they sold it in this dump price the more holders will buy it and take the chance.

[carriebee]

In this case a 1000btc would dump bitcoin, I think it will not hit a big impact. I think there are more investors, bitcoin holders that really holding more than that. As we all know bitcoin has big impact to many people now because of its volatility. And, all of us here aiming to gained more value that will earn big profit of bitcoin. However, bitcoin will still  growing and increasing its price.

[taxmanmt5]

You can burn a 1000 coin lot from anywhere and never see the price change.  You guys have no idea how the system works and what the deal is.  You are like that guy in a movie that wanders around in constant ignorance and compounds it with not knowing that he is ignorant.

[Kawasanz]

I think these are the coins that no one has ever wanted, so they'll auction off and release all the remaining stock of coins they have, the best solution is to wait, monitor and watch all the moves of the coins in the market
now!!!

[Betwrong]

1,000 BTC being dumped? There's an hourly demand for 100 BTC on loans on Poloniex alone. If they're auctioned, it'll also be private and not on exchanges, so there won't be any effect on the market. Even if it were sold on an exchange, any spike or dip would be limited to a few seconds, minutes at best.

At first I thought that the impact of dumping 1,000 BTC will last not more than several days, but now I see that you are probably right, it will last even much less then that. So, no need to worry about would be additional 1k BTC on the market, because the demand for Bitcoin is high.

[Sled]

1,000 BTC being dumped? There's an hourly demand for 100 BTC on loans on Poloniex alone. If they're auctioned, it'll also be private and not on exchanges, so there won't be any effect on the market. Even if it were sold on an exchange, any spike or dip would be limited to a few seconds, minutes at best.

At first I thought that the impact of dumping 1,000 BTC will last not more than several days, but now I see that you are probably right, it will last even much less then that. So, no need to worry about would be additional 1k BTC on the market, because the demand for Bitcoin is high.

That is right, as long as there is demand in the market then the additional supply is not a problem because there is a lot of people who are ready to get those additional pumps because people now are smarter and they just think that they need to collect bitcoin as much as they can because it is a good investment for long term that can make them earn more money.

[tonlong]

In this case a 1000btc would dump bitcoin, I think it will not hit a big impact. I think there are more investors, bitcoin holders that really holding more than that. As we all know bitcoin has big impact to many people now because of its volatility. And, all of us here aiming to gained more value that will earn big profit of bitcoin. However, bitcoin will still  growing and increasing its price.

I think it is possible, there are so many people into btc on pure speculation and emotional attachment right now.

[HongKong]

I think these are the coins that no one has ever wanted, so they'll auction off and release all the remaining stock of coins they have, the best solution is to wait, monitor and watch all the moves of the coins in the market
now!!!

It could be. I know that the price of Ethereum went up so the people that were holding that coin were likely to transfer their holdings into Bitcoin so they cash their coins into some fiat.

The price of Bitcoin will increase further and the people that cashed their money out might try to purchase again though at a higher price range.

[beerlover]

Just for one exchange the amount of coins sold at the same time(a dump)can be over 5,000 BTC within minutes to 30 minutes. On a daily basis 300 BTC is traded across all exchanges combined probably every few minutes. At just one exchange selling 300 at a time might cause a few dollar price drop for an hour.

No it will be never drop because bitcoin is giving best opportunities to people if you are withdraw 300 bitcoins daily or more it will not effect on price of bitcoin or dollar. So like that if people withdraw then there is no effect. After withdraw once again they will invest because the same process is going. which is called money circulation.

[mrfreezeh]

I think these are the coins that no one has ever wanted, so they'll auction off and release all the remaining stock of coins they have, the best solution is to wait, monitor and watch all the moves of the coins in the market
now!!!

It could be. I know that the price of Ethereum went up so the people that were holding that coin were likely to transfer their holdings into Bitcoin so they cash their coins into some fiat.

The price of Bitcoin will increase further and the people that cashed their money out might try to purchase again though at a higher price range.

Be carefully to buy or holding Bitcoin in next time, Segwit is a double-edged sword can kill anyone because they not know when Segwit success, the price of Bitcoin can rasing up more or down look like as LTC has undergone. Keep Bitcoin in next time like gamble - it just my think

[bouren]

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 ?

Nope. You can't expect drastic decrease with introduction of hardly 2-3% of total supply.
Reason 1, not everyone gonna sale all the bitcoin in one go at one instant.
Reason 2, existing market will be able to neutralize this impact as bitcoin market in 2017 is many times bigger than what it used to be earlier.

[ethereumhunter]

1000 btc is only make a little impact in only one or two exchanges and not almost all exchanges and i believe that there is many people that have more than 1000 btc and they are ready for any possibility that will happen with bitcoin. i am sure that there are many traders or people that will keep their bitcoin while the price is down and they are not gets panic like others.