Arros
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October 09, 2013, 12:07:38 AM |
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It could be interesting if they dump 600k BTC in one go.  |
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allthingsluxury
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October 09, 2013, 04:33:02 AM |
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It could be interesting if they dump 600k BTC in one go. I don't think this would be good for anyone. Except haters.  |
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marcotheminer
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┴puoʎǝq ʞool┴
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October 09, 2013, 05:09:49 AM |
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Definitely after the trial has been completed.
But, my question is, what exactly does liquidating them mean? Will they be sold at a low price or just all sold at exchange rate price?
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TheButterZone
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RIP Mommy
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October 09, 2013, 05:44:30 AM |
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Definitely after the trial has been completed.
But, my question is, what exactly does liquidating them mean? Will they be sold at a low price or just all sold at exchange rate price?
Limit order $1 above last price would be the most logical, but this is government we're talking about, they'll pretend to be stupid and crash everything with a market sell and all but destroy the bid side of the book. |
Saying that you don't trust someone because of their behavior is completely valid.
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Spekulatius (OP)
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October 09, 2013, 05:50:22 AM |
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Are you asking:
When will they sell the bitcoins
OR
When the will make the announcement that they (in future) are going to sell those coins?
In the latter case, the announcement has been made already..
*moan* I guess people are still misreading the headline AND my description (not necessarily directed at you kiky). Of course I ask for the date when they will ANNOUNCE that they intend to sell their 600k BTC stash, not for the date when they will actually sell it. See, the mere announcment could wreak havoc over the market and deal some hefty blows to any upwards movement there is. And then once again when we near the day of the allegded sell off. |
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Dabs
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The Concierge of Crypto
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October 09, 2013, 05:51:35 AM |
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The auction or bitcoin buy will be off-exchange. It won't happen at Gox or Stamp or any other public exchange. It will be public and most likely you have to be physically there or you have to deposit your dollars at an FBI designated bank.
Obviously, it will not be anonymous.
The most likely scenario is a big entity or group will buy it, or some rich facebook twins or something like that.
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super3
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October 09, 2013, 03:48:33 PM |
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The auction or bitcoin buy will be off-exchange. It won't happen at Gox or Stamp or any other public exchange. It will be public and most likely you have to be physically there or you have to deposit your dollars at an FBI designated bank.
Obviously, it will not be anonymous.
The most likely scenario is a big entity or group will buy it, or some rich facebook twins or something like that.
This seems like the most likely option. Some large investor will just buy the whole lot in one go. They will then pay the federal government directly. That aside you know what would be hilarious? If they tried to sell it on Mt.Gox. Good luck getting their money out. Or perhaps they would fix Gox with regulatory pressure to get their USD out. |
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Ekaros
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October 09, 2013, 03:50:49 PM |
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The auction or bitcoin buy will be off-exchange. It won't happen at Gox or Stamp or any other public exchange. It will be public and most likely you have to be physically there or you have to deposit your dollars at an FBI designated bank.
Obviously, it will not be anonymous.
The most likely scenario is a big entity or group will buy it, or some rich facebook twins or something like that.
They could even allow bidding for smaller parts, with sensible limit of minimum bid in terms of USD. Then just cut it in parts in order. |
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kik1977
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October 09, 2013, 04:15:57 PM |
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Are you asking:
When will they sell the bitcoins
OR
When the will make the announcement that they (in future) are going to sell those coins?
In the latter case, the announcement has been made already..
*moan* I guess people are still misreading the headline AND my description (not necessarily directed at you kiky). Of course I ask for the date when they will ANNOUNCE that they intend to sell their 600k BTC stash, not for the date when they will actually sell it. See, the mere announcment could wreak havoc over the market and deal some hefty blows to any upwards movement there is. And then once again when we near the day of the allegded sell off. I understand, but it's a silly question! If an asset or a good of any kind is under seizure pending a trial, it cannot be sold. The State can sell it once is confiscated, which means that from that moment the State owns it. The confiscation cannot be declared that at the end of the trial. So what are we talking about? |
We are like butterflies who flutter for a day and think it is forever
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Tomatocage
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brb keeping up with the Kardashians
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October 09, 2013, 04:32:07 PM |
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First knightmb, now altoid. Not a good track record for 6-figure BTC holders. Who's next? ArtForz?
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lordgerson
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October 21, 2013, 12:54:26 PM |
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johncarpe64
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October 21, 2013, 01:24:30 PM |
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They are holding it just like we do, they think that Bitcoin could reach $1000 too |
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kik1977
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October 21, 2013, 02:00:25 PM |
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True, with 50BTC going to what looks like a vanity address: 1PexpessseHF8qkzDrGuuWZSLzm2887Qwa Any clue? |
We are like butterflies who flutter for a day and think it is forever
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wtfvanity
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October 21, 2013, 04:41:33 PM |
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True, with 50BTC going to what looks like a vanity address: 1PexpessseHF8qkzDrGuuWZSLzm2887Qwa Any clue? From the pex address, it's already moved again. Interesting. And 36k bitcoin = 6 million? |
WTF! Don't Click Here
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Anon136
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October 21, 2013, 04:51:45 PM |
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I think they would have to wait until after he is found guilty. Even then, I hope the keep it.
Please note that it's not a choice, they MUST be sold. Or destroyed in some particular cases. So no, they cannot "keep" them. What do you mean they can not keep them? If they decide that that is what they want to do, who is going to stop them? I mean maybe you could say it would be politically unprofitable, but thats definately not at all the same thing as saying they have no choice. they have most of and the biggest guns in the world, they can do what ever the hell they please. |
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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MAbtc
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October 21, 2013, 06:01:45 PM |
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I think they would have to wait until after he is found guilty. Even then, I hope the keep it.
Please note that it's not a choice, they MUST be sold. Or destroyed in some particular cases. So no, they cannot "keep" them. What do you mean they can not keep them? If they decide that that is what they want to do, who is going to stop them? I mean maybe you could say it would be politically unprofitable, but thats definately not at all the same thing as saying they have no choice. they have most of and the biggest guns in the world, they can do what ever the hell they please. Assets in commission of crime that are seized are subject to liquidation guidelines from the DOJ. I'm unsure, but I have a feeling they can't just hold onto them. Seizures are such an ingrained part of law enforcement budgets now that they are only interested in dollars, anyway. And they don't have to wait until the trial is over -- not unless Ulbricht can prove fast that the coins were not used in commission of crime. Good luck with that.... |
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subcoin
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October 21, 2013, 06:33:40 PM |
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I am positive they will sell it via their own auction, possibly, even on their website.
They will separate 26k coins into 260 "lots" with 100 coins in each.
Then they will sell the lots for whatever the highest bid the auction generates.
This process allows the sale at the true market price.
Meaning, whatever the market thinks is the right price in this case.
I estimate that price would be 20-30% less then current prices on exchanges.
The good news is that prices on exchanges will take the nose-dive before the auction will start.
That is in anticipation of huge increase in supply.
Another thing, do no expect them to release the funds right after auction.
It will take them few days to actually send BTC to winners' wallets.
Also, I'm sure there will be some "eBay" type of people who would bid crazy amounts on some lots.
But I believe government is smart enough to separate into many lots.
Because this way they will make a lot more money than with a single or few lots.
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CEG5952
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October 21, 2013, 06:43:53 PM |
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I am positive they will sell it via their own auction, possibly, even on their website.
this is the only way they do it. however, i don't know how easy it will be to find out when they are doing it, before they do it. |
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subcoin
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October 21, 2013, 07:20:31 PM |
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i don't know how easy it will be to find out when they are doing it, before they do it They actually announce it. It is in their best interest to bring as many people as possible. They have this website: http://gsaauctions.gov - where they auction off stuff. You can see upcoming auctions for up to 1 month in advance. Anybody can register and place a bid - credit card and verification required. I've bought few cars from there. Pretty smooth experience. I'm sure once they announce the sale of BTC - there will be news all over the place. However, that is a pretty long time from now (few years?) |
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