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Question: What do you think was the winning USD amount for the USMS Silk Road Bitcoin auction?
below 600 - 32 (29.4%)
600-650 - 28 (25.7%)
650-700 - 18 (16.5%)
700-800 - 14 (12.8%)
800-900 - 5 (4.6%)
900-1000 - 2 (1.8%)
1000-1200 - 2 (1.8%)
1200+ - 8 (7.3%)
Total Voters: 109

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Author Topic: USMS Silk Road Bitcoin Auction Winning Bid Price?  (Read 4081 times)
BTCfan1 (OP)
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June 29, 2014, 04:21:58 AM
 #1

I personally think they went for a high premium, but I know there are strong opinions on both sides.  I havent seen a poll for this specifically so I thought I would post one...
Gimmelfarb
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June 29, 2014, 04:32:32 AM
 #2

are we actually going to see any trustworthy "results"? i wasn't sure whether prices would be disclosed through official channels, and bidders/winners may be subject to non-disclosure requirements.
lay785
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June 29, 2014, 04:36:10 AM
 #3

by the time we find out, the price will probably have either gone up or down. Whoever found out ahead of us will have used this info to their advantage. Best bet is to keep an eye on exchange volumes.
FNG
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June 29, 2014, 04:37:45 AM
 #4

$631
BTCfan1 (OP)
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June 29, 2014, 04:38:21 AM
 #5

are we actually going to see any trustworthy "results"? i wasn't sure whether prices would be disclosed through official channels, and bidders/winners may be subject to non-disclosure requirements.

I have a feeling either the winner will come forward and disclose the price, or the winning bid amount will be made public by some other means .... this whole scenario is way too built up in the public consciousness now for the result not to be revealed...but thats just me
Gimmelfarb
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June 29, 2014, 04:39:07 AM
 #6

there's multiple lots, and so multiple winning prices, right? so perhaps a range is more relevant here. i still think the only info we might get is from losing bidders -- even then, i think they may be subject to non-disclosure. we may get nothing here.
BTCfan1 (OP)
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June 29, 2014, 04:40:43 AM
 #7

there's multiple lots, and so multiple winning prices, right? so perhaps a range is more relevant here. i still think the only info we might get is from losing bidders -- even then, i think they may be subject to non-disclosure. we may get nothing here.

thats a good point...argh, maybe you should make a new poll?  something that includes the # of lots going for which $ price etc.

oh well, at least this one can give a general idea of what people think these coins are worth
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June 29, 2014, 04:43:49 AM
 #8

Sources say $789
ShameOnYou
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June 29, 2014, 04:45:19 AM
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Sources say $789

False. My sources say sub-$550, and I know some pretty important people.  Roll Eyes Tongue
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June 29, 2014, 04:46:46 AM
 #10

Think about it: They auctioned off 30,000 BTC.

If anyone wanted to buy 30,000 BTC on an exchange in one go they would drive the price into the sky.

Likely those coins were purchased at a higher price than spot price.

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ShameOnYou
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June 29, 2014, 04:49:52 AM
 #11

Think about it: They auctioned off 30,000 BTC.

If anyone wanted to buy 30,000 BTC on an exchange in one go they would drive the price into the sky.

Likely those coins were purchased at a higher price than spot price.

It's not that simple. One could easily say:

"If anyone [USG] wanted to sell 30,000 BTC on an exchange in one go they would drive the price to $0"

This sort of logic gets us nowhere.
lay785
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June 29, 2014, 05:51:05 AM
 #12

Think about it: They auctioned off 30,000 BTC.

If anyone wanted to buy 30,000 BTC on an exchange in one go they would drive the price into the sky.

Likely those coins were purchased at a higher price than spot price.

It's not that simple. One could easily say:

"If anyone [USG] wanted to sell 30,000 BTC on an exchange in one go they would drive the price to $0"

This sort of logic gets us nowhere.


Good point.
blatchcorn
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June 29, 2014, 07:13:57 AM
 #13

I bought them at market value
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June 29, 2014, 07:19:25 AM
 #14

When is the auction and how are they running it ? onsite, online etc?
I am guessing they wont stuck them up on ebay :|

BTCfan1 (OP)
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June 29, 2014, 07:44:09 AM
 #15

When is the auction and how are they running it ? onsite, online etc?
I am guessing they wont stuck them up on ebay :|

auction is over already, results on monday
Wolf Rainer
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June 29, 2014, 07:51:00 AM
 #16

They put a 500 btc sell wall at $600, so they want to win the auction for less than 600.
Arghhh
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June 29, 2014, 07:54:05 AM
 #17

Think about this: The Second Market Syndicate alone, one of the dozen bidding parties, wants 48,000 bitcoins. The Feds are only selling 30,000. Remember, only one of the dozen bidding parties.

In this case, buying pressure exceeds selling pressure.
CEG5952
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June 29, 2014, 08:00:38 AM
 #18

Think about this: The Second Market Syndicate alone, one of the dozen bidding parties, wants 48,000 bitcoins. The Feds are only selling 30,000. Remember, only one of the dozen bidding parties.

In this case, buying pressure exceeds selling pressure.

Yeah, except the government will be auctioning off many more coins than this in the future. This won't be the only chance that big investors get. And there is always the OTC market...

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June 29, 2014, 08:12:58 AM
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gizmoh
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June 29, 2014, 08:21:28 AM
 #20

Think about this: The Second Market Syndicate alone, one of the dozen bidding parties, wants 48,000 bitcoins. The Feds are only selling 30,000. Remember, only one of the dozen bidding parties.

In this case, buying pressure exceeds selling pressure.

Many are low ball offers like this user participating:
"I'm participating with a group through SecondMarket for the auction.  We semi-low balled our bid."
https://bitcointalk.org/index.php?topic=178336.msg7545476#msg7545476

Why did Barry Silbert not include the average bidding price of the syndicate auction results ? Roll Eyes

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