600$ Crossed.

[Equate]

According to the reports all the auctioned coin went to one bidder.
http://www.coindesk.com/us-marshals-one-auction-bidder-claimed-all-30000-silk-road-bitcoins/
Now its upto you whether you take it negatively and hit the Panic button or stay strong and hold your ground.

Price correction is happening , and that is bound to happen but one bidder bought all the 30k BTC , thats crazy lol

[rohnearner]

Price correction is happening , and that is bound to happen but one bidder bought all the 30k BTC , thats crazy lol

Only question that should be asked is " where the market settles on this one ..? " I hope we are not sinking below 600$ again , 630$ should be the price till we go up and over 700$ mark. I'm expecting btc to hit the 700$ mark once by the end of this month. I don't think someone who bids for 30btc and spends a good amount of $$$$ in it will take any stupid decision that creates any down trend .

[Benson Samuel]

Price correction is happening , and that is bound to happen but one bidder bought all the 30k BTC , thats crazy lol

Only question that should be asked is " where the market settles on this one ..? " I hope we are not sinking below 600$ again , 630$ should be the price till we go up and over 700$ mark. I'm expecting btc to hit the 700$ mark once by the end of this month. I don't think someone who bids for 30btc and spends a good amount of $$$$ in it will take any stupid decision that creates any down trend .

am expecting it to land high, if the US government can sell Bitcoin, this is a stamp of validity that cannot question anyone else who sells.

[newIndia]

Price correction is happening , and that is bound to happen but one bidder bought all the 30k BTC , thats crazy lol

Only question that should be asked is " where the market settles on this one ..? " I hope we are not sinking below 600$ again , 630$ should be the price till we go up and over 700$ mark. I'm expecting btc to hit the 700$ mark once by the end of this month. I don't think someone who bids for 30btc and spends a good amount of $$$$ in it will take any stupid decision that creates any down trend .

am expecting it to land high, if the US government can sell Bitcoin, this is a stamp of validity that cannot question anyone else who sells.

^^^This, US government is selling bitcoin, is actually a Golden moment in the history of bitcoin.

[Equate]

Price correction is happening , and that is bound to happen but one bidder bought all the 30k BTC , thats crazy lol

Only question that should be asked is " where the market settles on this one ..? " I hope we are not sinking below 600$ again , 630$ should be the price till we go up and over 700$ mark. I'm expecting btc to hit the 700$ mark once by the end of this month. I don't think someone who bids for 30btc and spends a good amount of $$$$ in it will take any stupid decision that creates any down trend .

am expecting it to land high, if the US government can sell Bitcoin, this is a stamp of validity that cannot question anyone else who sells.

^^^This, US government is selling bitcoin, is actually a Golden moment in the history of bitcoin.

That is indeed a big moment for Bitcoin and lets see what stand USA further takes on BTC .

[rohnearner]

If anyone wanna know who is the one who acquires 30k bitcoins after winning the auction , He is  Tim Draper a well known VC
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/

[newIndia]

If anyone wanna know who is the one who acquires 30k bitcoins after winning the auction , He is  Tim Draper a well known VC
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/

More reports here...

Venture capitalist Tim Draper won the U.S. Marshals bitcoin auction earlier this week that captured about $18 million for 30,000 bitcoin, according to an e-mailed statement sent to Reuters.

Source 1: http://www.reuters.com/article/2014/07/02/us-usa-bitcoin-idUSKBN0F719920140702

Source 2: http://dealbook.nytimes.com/2014/07/02/venture-capitalist-tim-draper-wins-bitcoin-auction/

Source 3: http://www.chicagotribune.com/business/breaking/sns-rt-us-usa-bitcoin-20140701,0,4038036.story

Source 4: http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/

[subvolatil]

One man buying off a bid. welcome to the 1% taking over  again.

sigh....!!!

[zhinkk]

If anyone wanna know who is the one who acquires 30k bitcoins after winning the auction , He is  Tim Draper a well known VC
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/

In my opinion that was a great person who bought those coins. He has been a start up investor in a lot of great companies and products.

[rohnearner]

It seems like we are sinking below 600$ again , I just hope  that doesn't happen , I was hoping that we'll see the 700$ mark again this month when the auction ended last month although I'm still hopeful for that Just hoping that we don't sink below 600$, otherwise its not gonna be easy.

[BitCoinDream]

It seems like we are sinking below 600$ again , I just hope  that doesn't happen , I was hoping that we'll see the 700$ mark again this month when the auction ended last month although I'm still hopeful for that Just hoping that we don't sink below 600$, otherwise its not gonna be easy.

I think the reverse. Though I'm not hoping for 700, I think market will cross 650 soon, because market manipulators always try to dissuade people with wrong indications to book profit. As it is indicating downward, it'll take a sharp turn and go up and as soon as u start thinking that it'll continue to go up, it'll actually go down. Same happens for share market too...

[dashingriddler]

One man buying off a bid. welcome to the 1% taking over  again.

sigh....!!!

1% ?

[buysellbitcoin]

One man buying off a bid. welcome to the 1% taking over  again.

sigh....!!!

1% ?

By 1% sub means that most of the wealth in any system is controlled by 1%. Libertarians believed Bitcoin may change this, but as far as every one can understand any financial domain will be dominated, well, 1%. Harsh reality.

But sub, you know what Bitcoin ( in general cryptography ) has changed ? It has given you hope,belief and tools where you, a small start up or  a simple common man can challenge establishments

May be its getting a bit offtopic and dont want to hijack op's discussion.

Regards 

[ravin]

One man buying off a bid. welcome to the 1% taking over  again.

sigh....!!!

1% ?

By 1% sub means that most of the wealth in any system is controlled by 1%. Libertarians believed Bitcoin may change this, but as far as every one can understand any financial domain will be dominated, well, 1%. Harsh reality.

But sub, you know what Bitcoin ( in general cryptography ) has changed ? It has given you hope,belief and tools where you, a small start up or  a simple common man can challenge establishments

May be its getting a bit offtopic and dont want to hijack op's discussion.

Regards 

The man who bought is a well known startup VC. I guess the funds are going to get used for, well, bitcoin startup funding. Ain't that good for Bitcoin?

I see a problem if a large bank buys 100,000 BTC and try to control USD/BTC prices with the bullying power.

[rohnearner]

Tomorrow is Monday we might see some action this is missing from a long time , Hoping for that and 650$ this week
 The market is missing all that drama and looks very boring these days. whenever i look into btc-e all I get is  613.....619....622 , these are the digits I have seen most number of times this month.