US Marshalls auction SilkRoad bitcoins

[Melbustus]

We bid $455 which at the time was 81% of market value.  Not accepted of course.  Rumor has it winning bid(s) was at spot or maybe even above spot.

There was *one* winner: https://twitter.com/paulvigna/status/484074892946837504

Details to come soon, apparently.

[pirsquared]

We bid $455 which at the time was 81% of market value.  Not accepted of course.  Rumor has it winning bid(s) was at spot or maybe even above spot.

There was *one* winner: https://twitter.com/paulvigna/status/484074892946837504

Details to come soon, apparently.

All coins were moved in a single tx: https://blockchain.info/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3

[beetcoin]

i'm guessing the winning bidder went over spot.. was probably around what it is right now at $650. a lot of people are paying attention to the whales to get a feel for the consensus of what they're willing to spend, and if it turns out to be $650, then bitcoin will jump to that price.

[DannyElfman]

i'm guessing the winning bidder went over spot.. was probably around what it is right now at $650. a lot of people are paying attention to the whales to get a feel for the consensus of what they're willing to spend, and if it turns out to be $650, then bitcoin will jump to that price.

What makes you say this? I would say that the majority of bidders likely bid under the price as of when they submitted their bid. As of the time of the bid there was selling pressure on the market and any participant could have purchased coins at the market price

[mkc]

Rumor said one person bid $900, is he the winner? I guess if he bid one lot at $900, all other @625, then the final price will be 625, am i right? We all expect some bullish move when the price released.

[AltcoinAuthority]

Here's my take

YouTube Video

Speculation is starting to arise regarding the identity of the sole winner of the 30,000 bitcoin auction that was held by the US Marshals Service. The objective of this auction was to liquidate the bitcoins which were seized from the Silk Road back in October 2013. Who is this mysterious investor that outbid everyone else for $19 million worth of bitcoins?

The mere fact that one bidder, out of 42 others who put down a deposit of $200,000, won the entire auction has important ramifications on what’s to come. These bidders who have indicated a clear interest in buying bitcoin in large volumes will now be left to satisfy their demand on the open market. This could lead to a continuation of the uptrend that was started on Monday. However the question still remains: Who is this person that won all 30,000 bitcoins and what will they do with them next? According to the blockchain, the bitcoins have already been transferred and the deal is complete.

... Continue Reading:
http://altcoinauthority.com/2014/07/who-won-the-usms-silk-road-bitcoin-auction/

[boumalo]

Rumor said one person bid $900, is he the winner? I guess if he bid one lot at $900, all other @625, then the final price will be 625, am i right? We all expect some bullish move when the price released.

It seems very dangerous to bid @ 900; what you do is you bid @ the maximum you are interested or a bit higher

We bid $455 which at the time was 81% of market value.  Not accepted of course.  Rumor has it winning bid(s) was at spot or maybe even above spot.

There was *one* winner: https://twitter.com/paulvigna/status/484074892946837504

Details to come soon, apparently.

All coins were moved in a single tx: https://blockchain.info/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3

Reading the weird messages from the dust transactions to the address is entertaining

It is good the FBI coins are not sold on the market because it seems to find new buyers and to support the price, maybe it will even be the same if the 100,000+ bitcoins that the FBI still have are auctioned off

[TEDmachine]

Is this going to fuck up the market?

[spainful]

Is this going to fuck up the market?

This represents a little over 1% of all bitcoins. I would say yes it will

[TEDmachine]

Is this going to fuck up the market?

This represents a little over 1% of all bitcoins. I would say yes it will

So buy when it hits the lowest point then?

[spainful]

Is this going to fuck up the market?

This represents a little over 1% of all bitcoins. I would say yes it will

So buy when it hits the lowest point then?

Always a good plan

[JorgeStolfi]

Reading the weird messages from the dust transactions to the address is entertaining

That's another great advantage of bitcoin over the obsolete payment systems.  You would never get such fun as spam, hate mail, and mockery on you bank account statement.  Anonymous messages that you cannot erase and everybody can read.  Way to go, bitcoin. 

[TopherB]

Reading the weird messages from the dust transactions to the address is entertaining

That's another great advantage of bitcoin over the obsolete payment systems.  You would never get such fun as spam, hate mail, and mockery on you bank account statement.  Anonymous messages that you cannot erase and everybody can read.  Way to go, bitcoin. 

As a teen I occasionally amused myself by writing cryptic, humorous or prankish notes on paper currency.

[Harley997]

Rumor said one person bid $900, is he the winner? I guess if he bid one lot at $900, all other @625, then the final price will be 625, am i right? We all expect some bullish move when the price released.

No you would pay the amount that you bid as long as it is the highest.

You are thinking about how ebay's auctions work in that if the next highest bid is $600, then you would only pay one increment above that bid.

[Intaryna]

Is this going to fuck up the market?

This represents a little over 1% of all bitcoins. I would say yes it will

This probably will double the number of bitcoins in circulation on the other hand

[Harley997]

Is this going to fuck up the market?

This represents a little over 1% of all bitcoins. I would say yes it will

This probably will double the number of bitcoins in circulation on the other hand

It would not double the number of bitcoins in circulation, but in theory will make the bitcoins in circulation more diverse as Draper is going to try to get people to use bitcoin who do not currently have access to bitcoin

[jbreher]

Reading the weird messages from the dust transactions to the address is entertaining

That's another great advantage of bitcoin over the obsolete payment systems.  You would never get such fun as spam, hate mail, and mockery on you bank account statement.  Anonymous messages that you cannot erase and everybody can read.  Way to go, bitcoin. 

protip: just because something is visible at blockchain.info, that something is not necessarily embedded in The Blockchain.

[JorgeStolfi]

Reading the weird messages from the dust transactions to the address is entertaining

That's another great advantage of bitcoin over the obsolete payment systems.  You would never get such fun as spam, hate mail, and mockery on you bank account statement.  Anonymous messages that you cannot erase and everybody can read.  Way to go, bitcoin. 

protip: just because something is visible at blockchain.info, that something is not necessarily embedded in The Blockchain.

Thanks for the correction.  Does blockchain.info provide a way to protect people from such unwanted associations?

[DannyElfman]

Reading the weird messages from the dust transactions to the address is entertaining

That's another great advantage of bitcoin over the obsolete payment systems.  You would never get such fun as spam, hate mail, and mockery on you bank account statement.  Anonymous messages that you cannot erase and everybody can read.  Way to go, bitcoin. 

protip: just because something is visible at blockchain.info, that something is not necessarily embedded in The Blockchain.

Even if it is not embedded in the blockchain, blockchain.info is large enough so that the public notes work well enough for this purpose.

[JorgeStolfi]

protip: just because something is visible at blockchain.info, that something is not necessarily embedded in The Blockchain.

But it *is* possible to embed messages in the blockchain, isn't it? Only it is strongly discouraged, I gather?