Alley (OP)
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Merit: 1000
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June 15, 2014, 02:05:35 AM |
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Its going to be a silent auction. So you submit 1 bid. Highest wins. No bidding war.
So if you were a major player bidding on 3,000 coins what would be your bid if you really wanted these coins? Im trying to think what a typical winning bid will be.
Im thinking $700 per coin.
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virtualrealityau
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June 15, 2014, 02:21:37 AM |
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Hard to say .. but 700 sounds about right.
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sbfree
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June 15, 2014, 04:19:03 AM |
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the US MARSHAL/Treasury are asking for $200K CASH up front in order to even register for this auction. At current market prices I say someone with big bucks and balls can snatch them all up for $400 each maybe a little more or a little less. I imagine they are looking for a buyer to take them all, or at minimum will be selling in $200k chunks...not sure never been to FED auction, and much less to one involving the sale of BITCOINS....wowser!!
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beetcoin
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June 15, 2014, 04:42:38 AM |
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so if you don't win any auctions, they keep your $200k? that's pretty fucked up.. you'd have to at least post 1 bid at market value -200k.
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JohnFromWIT
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June 15, 2014, 04:53:07 AM |
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From hereParticipants will be able to fight for nine blocks of 3,000 bitcoin—each block worth about $1.8 million based on today's conversion—and a single block of 2,657 bitcoin worth about $1.6 million. The term block here being a happy, yet slightly confusing coincidence. |
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keithers
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This is the land of wolves now & you're not a wolf
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June 15, 2014, 05:03:53 AM |
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so if you don't win any auctions, they keep your $200k? that's pretty fucked up.. you'd have to at least post 1 bid at market value -200k.
The 200k upfront is to prove that you are liquid enough to actually pay if you win the auction. You will get the money back if you don't get any coins. I expect them to go below market value. Probably around $400/coin or so |
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AuroraHF
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June 15, 2014, 05:05:40 AM |
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$700 per coin would be way too much, you could buy more coins off exchanges since they are lower than $700. I buy them at least 10% under market price to fetch a decent profit.
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lmao
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BetMoose
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June 15, 2014, 06:37:03 AM |
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It really depends on the buyers I think. Could make an argument for both below or above market value... Below market: - Day of, whales can come out and start buying up coins to jack the price (so as to get the most amount of fiat inflow from the auction), then immediately after the auction is settled, dump the price back down. That way, when these newly acquired coins from big buyers come to market, they'll be cheaper to buy back.... Above market: - It's an auction offering a large sum to be bought from a reputable source all at one time. It's also a silent auction. These are factors a buyer (especially if it's an institutional investor) may be paying a premium for. We have a prediction on our site about this but no one has placed anything yet; am really hoping we see one big bet from an insider  https://www.betmoose.com/bet/silkroad-coins-will-be-sold-above-market-value |
BetMoose.com - Wager on real world events. Profit from predicting the future. Create and share your own contracts.
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tins
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June 15, 2014, 07:01:40 AM |
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I would imagine the blocks will be sold off between $1.05M-$1.499M.
Wouldn't think they will get any bid at that large of a level for more than $500 per btc. and lowest winning bid could possibly see the $350 per btc range.
Will be interesting to see the final numbers...
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Harley997
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June 15, 2014, 05:23:56 PM |
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so if you don't win any auctions, they keep your $200k? that's pretty fucked up.. you'd have to at least post 1 bid at market value -200k.
The 200k upfront is to prove that you are liquid enough to actually pay if you win the auction. You will get the money back if you don't get any coins. I expect them to go below market value. Probably around $400/coin or so I would say that would be a pretty big discount. If they get too much of a discount then they would have a bigger incentive to simply sell the coins on an exchange |
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keithers
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This is the land of wolves now & you're not a wolf
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June 15, 2014, 07:05:25 PM |
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so if you don't win any auctions, they keep your $200k? that's pretty fucked up.. you'd have to at least post 1 bid at market value -200k.
The 200k upfront is to prove that you are liquid enough to actually pay if you win the auction. You will get the money back if you don't get any coins. I expect them to go below market value. Probably around $400/coin or so I would say that would be a pretty big discount. If they get too much of a discount then they would have a bigger incentive to simply sell the coins on an exchange Prices on auctions always go significantly cheaper than market value, look at homes in foreclosure auctions for instance... It is highly unlikely that the price per coin hours for market value. The only items that go for close to market value or higher, are rate things like art pieces that are one of a kind... |
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Swordsoffreedom
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Leading Crypto Sports Betting & Casino Platform
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June 15, 2014, 07:07:36 PM |
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If I wanted to be certain I would win would go for 725 dollars a coin
The extra 25 dollars being the buffer between everyone else saying 700 is the high
Of course if we all knew in advance it would be a live auction not a silent auction
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runam0k
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Touchdown
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June 15, 2014, 07:13:40 PM |
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Legit coins, minimum effort, bought as a medium to long term investment - I suspect at least 1.5x market to secure them.
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nwfella
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Well hello there!
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June 15, 2014, 07:26:47 PM |
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I seriously doubt the average per coin sale price is going to be higher than what you can pick them up for on an exchange...if anything they should be fairly well discounted from current market price at the time of the sale.
My Guess: $515 (presuming BTC is still around $560-$570 by then)
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¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿
Gimme the crypto!!
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CurbsideProphet
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June 15, 2014, 07:34:44 PM |
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10-15% below market price on the day of the auction
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1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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beetcoin
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June 15, 2014, 07:58:38 PM |
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i have no idea why people are saying in the 700's, especially with bitcoin being in the mid 500's today. how the f does that make sense to pay more than the market value + provide a 200k deposit?
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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June 15, 2014, 08:01:04 PM |
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Hard to say .. but 700 sounds about right.
maybe a bit lower, 600-ish range. dont you think its a bit weird that bitcoin price dropped, just when whales are gonna start bidding for those coin ? kinda longshor, but dont u think its possible they dropped the market price, just so that they could get better price on that auction.. |
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rhino34567
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June 15, 2014, 08:02:10 PM |
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I don't think any bids are going much higher than $500. They have the benefit of exclusivity, which means less competition and less bids to fight against.
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Beliathon
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June 15, 2014, 08:04:31 PM |
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10-15% below market price on the day of the auction
That would be my guess also, but you never know. Bitcoin is still a small enough market to be subjected to manipulation by whales, so I wouldn't be surprised if there was some foul play that week... |
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JohnnyBTCSeed
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June 15, 2014, 08:09:13 PM |
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If it is anything like what Feinstein pulled with selling the post office buildings then expect the bitcoins to go to insiders for atleast half their value. The husband of US Senator Dianne Feinstein has been selling post offices to his friends, cheap.http://www.eastbayexpress.com/oakland/going-postal/Content?oid=3713528Feinstein's husband, Richard C. Blum, is chairman of C.B. Richard Ellis, or CBRE, the real estate firm hired in 2011 to serve as the exclusive agent to the Postal Service, selling facilities from post offices to plots of land worth hundreds of millions of dollars.
the real estate company undersold Postal Service properties, shortchanging the Postal Service on tens of millions of dollars.
In 2011, for example, the real estate firm sold a Seattle post office building assessed at $16 million for only half that
http://www.huffingtonpost.com/2013/12/12/dianne-feinstein-postal-service_n_4423045.html |
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