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Question: What do you think the Bitcoin price will do when the Feds sell the Silk Road BTC?
No significant drop - 30 (30.3%)
Drop between $1 and $100 - 12 (12.1%)
Drop between $101 and $200 - 12 (12.1%)
Drop more than $200 - 12 (12.1%)
Drop a lot then quickly spike up for a new rally - 14 (14.1%)
Go up - 19 (19.2%)
Total Voters: 99

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Author Topic: What do you think the Bitcoin price will do when the Feds sell the Silk Road BTC  (Read 2509 times)
seleme
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January 17, 2014, 10:37:03 AM
 #21

Even with an auction that is almost 30k bitcoins that someone is buying at auction instead of going to the exchange. Why would someone do that instead of just buying on the exchange?

They would only do that if they can get them cheaper at the auction. And why would someone with $25 million want to buy cheap coins? To sell them. Where do you think they would sell them?

If someone with $25 million wanted to buy and hold, they would have done so by now.

Nobody buys 30k coins on exchanges these days. Buyers for those coins will be big guys and those do investment of that size out of exchange.

Of course those coins will be bought to be sold or traded with, just like any of thousands of coins bought daily are bought to be sold or traded with. Just like SilkRoad guy would sell them at some time if they were still with him. What we should do - ban people from selling coins?

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January 17, 2014, 11:00:04 AM
 #22

I expect some institutional investors will be getting in on these coins.

This is probably the only time such a large number of coins will be made available off-market. For investors looking to dump millions into BTC this is the way to do it.

I expect anyone with half a brain would buy this up and then sell it in smaller chunks to smaller investors. You can charge a premium because there is no market risk and no chance of you pushing up the price with a big sale.

I expect it will be months/years before any of these make their way onto the open market.


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January 17, 2014, 12:55:24 PM
 #23

Even with an auction that is almost 30k bitcoins that someone is buying at auction instead of going to the exchange. Why would someone do that instead of just buying on the exchange?

They would only do that if they can get them MUCH cheaper at the auction. And why would someone with $25 million want to buy cheap coins? To sell them. Where do you think they would sell them?

If someone with $25 million wanted to buy and hold, they would have done so by now.

I agree, with one small but relevant correction, in caps and bold.

Sometimes, if it looks too bullish, it's actually bearish
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January 17, 2014, 02:19:36 PM
 #24

I believe the price with rise after the sale as the uncertainty has then been removed.

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January 18, 2014, 07:56:09 AM
 #25

Even with an auction that is almost 30k bitcoins that someone is buying at auction instead of going to the exchange. Why would someone do that instead of just buying on the exchange?

They would only do that if they can get them MUCH cheaper at the auction. And why would someone with $25 million want to buy cheap coins? To sell them. Where do you think they would sell them?

If someone with $25 million wanted to buy and hold, they would have done so by now.

I agree, with one small but relevant correction, in caps and bold.

I would be willing to take it all off of the government's hands for MUCH cheaper.

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January 18, 2014, 09:24:37 PM
 #26

does anyone know if there is an Appeal of law possible ?
This would take month to get the Coins finally auctioned
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January 18, 2014, 09:36:43 PM
 #27

I have a different question, but related to the topic:
What will the Winklevii do when they'll find out (before mere forum dwellers) WHEN the coins are going to be auctioned?

Sometimes, if it looks too bullish, it's actually bearish
segeln
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January 18, 2014, 09:41:19 PM
 #28

I have a different question, but related to the topic:
What will the Winklevii do when they'll find out (before mere forum dwellers) WHEN the coins are going to be auctioned?
the auction will be publicy announced at the Website of the judge so the winklevoss twins need to have good connections to hear about earlier than the public
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