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abercrombie (OP)
Legendary
 Offline
Activity: 1159
Merit: 1001
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June 30, 2014, 07:55:30 PM |
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Alan Silbert @alansilbert VP at GE Capital. Founder of BitPremier, the Bitcoin luxury marketplace. Bitcoin guru and evangelist. "So basically at least USD$20MM of bitcoin buying demand went unsatisfied in the auction and will look elsewhere to buy bitcoins i.e. market" https://twitter.com/alansilbert/status/483695027651346432 |
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gjgjg
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June 30, 2014, 08:05:29 PM |
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great news! also newsbtc reports: 42 bidders, 186 bids, 48k BTCs worth of bids for 29k BTCs I suspect from these numbers one could take an educated guess about the amount per btc, right? maybe someone with a mind for arithmetic can take a look but it seems to me that if 186 bids were made by 42 ppl thats 4~5 bids per person, or each coin had 1.5~ bids each on avg... in that case, 48k / 1.5 would be 32k = 3k more than 29k, so each coin was won at 10% more than market... i made a mistake somewhere in there right? lol http://newsbtc.com/2014/06/30/us-mar...tcoin-auction/ |
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bigasic
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June 30, 2014, 08:13:31 PM |
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It doesn't seem true to me, but then again, if one were to buy 3k coins all at once, it would drive the price sky high, so ya never know.
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abercrombie (OP)
Legendary
Offline
Activity: 1159
Merit: 1001
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June 30, 2014, 08:13:44 PM |
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great news! also newsbtc reports: 42 bidders, 186 bids, 48k BTCs worth of bids for 29k BTCs I suspect from these numbers one could take an educated guess about the amount per btc, right? maybe someone with a mind for arithmetic can take a look but it seems to me that if 186 bids were made by 42 ppl thats 4~5 bids per person, or each coin had 1.5~ bids each on avg... in that case, 48k / 1.5 would be 32k = 3k more than 29k, so each coin was won at 10% more than market... i made a mistake somewhere in there right? lol http://newsbtc.com/2014/06/30/us-mar...tcoin-auction/Yep, that means this price did NOT win any of the auction blocks: $670 |
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blatchcorn
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June 30, 2014, 08:17:51 PM |
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great news! also newsbtc reports: 42 bidders, 186 bids, 48k BTCs worth of bids for 29k BTCs I suspect from these numbers one could take an educated guess about the amount per btc, right? maybe someone with a mind for arithmetic can take a look but it seems to me that if 186 bids were made by 42 ppl thats 4~5 bids per person, or each coin had 1.5~ bids each on avg... in that case, 48k / 1.5 would be 32k = 3k more than 29k, so each coin was won at 10% more than market... i made a mistake somewhere in there right? lol http://newsbtc.com/2014/06/30/us-mar...tcoin-auction/Yep, that means this price did NOT win any of the auction blocks: $670  |
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fryarminer
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June 30, 2014, 08:22:07 PM |
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These numbers could be high - but with a sealed bid auction I expect the winning bid would be higher than market value, probably by a considerable amount.
We should be able to tell how high they bid by looking at the market value of bitcoin over the week, since I suppose that those who did not win the auction will go ahead and buy bitcoin at their bid price to soothe their loss (presuming they bit above market value).
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ajareselde
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Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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June 30, 2014, 10:50:23 PM |
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It doesn't seem true to me, but then again, if one were to buy 3k coins all at once, it would drive the price sky high, so ya never know.
and the fact that u cant know is exactly the thing theyre exploiting now with those prices. i hardly doubt prices in the auction were that high. |
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TooDumbForBitcoin
Legendary
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Activity: 1638
Merit: 1001
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June 30, 2014, 10:54:49 PM |
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i hardly doubt prices in the auction were that high.
I think this is what is known as tortured syntax. |
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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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June 30, 2014, 11:25:20 PM |
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These numbers could be high - but with a sealed bid auction I expect the winning bid would be higher than market value, probably by a considerable amount.
We should be able to tell how high they bid by looking at the market value of bitcoin over the week, since I suppose that those who did not win the auction will go ahead and buy bitcoin at their bid price to soothe their loss (presuming they bit above market value).
It should be actually. The market is catching on though. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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BurtW
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Activity: 2646
Merit: 1136
All paid signature campaigns should be banned.
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July 01, 2014, 01:10:19 AM |
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Just for fun I fired off a FOIA request, it was actually very painless, fun and free. I have no idea how long these things take but I expect by the time I get the requested information it will be moot.
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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July 01, 2014, 04:15:11 AM |
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Your research showed that OP is FOS and Pantera, SecondMarket, Bill Lee, CoinApex are all lowballers looking for a steal. Thanks! |
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Cicero2.0
Member
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Activity: 98
Merit: 10
★☆★Bitin.io★☆★
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July 01, 2014, 06:14:13 AM |
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That would explain the price rise today. I truly expected a drop in prices today. We need more auctions.  |
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rapport
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July 01, 2014, 06:40:41 AM |
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That would explain the price rise today. I truly expected a drop in prices today. We need more auctions. Not necessarily auctions, but more Wall St. participation  |
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freedomno1
Legendary
Offline
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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July 01, 2014, 07:18:49 AM |
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That would explain the price rise today. I truly expected a drop in prices today. We need more auctions. Not necessarily auctions, but more Wall St. participation As long as we don't have HFT bots or we might end up with the weird Gox coin exchange rate and then everyone else again ^_^. That said having wall street around is good for the growth of bitcoin as more companies use it |
Believing in Bitcoins and it's ability to change the world
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nitehawk
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July 01, 2014, 07:21:12 AM |
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us gov auctions dont work that way .. there was no min .. he who had the highest bid will win ..
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zimmah
Legendary
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Activity: 1106
Merit: 1005
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July 01, 2014, 09:43:46 AM |
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us gov auctions dont work that way .. there was no min .. he who had the highest bid will win ..
There was a min. They have a rule that they do not have to accept bids for whatever reason. So if they don't like the price they will have the right to refuse. We will probably never know exactly how much was paid for the coins but it's probably above $700 |
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kokojie
Legendary
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Activity: 1806
Merit: 1003
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July 01, 2014, 01:53:06 PM |
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great news! also newsbtc reports: 42 bidders, 186 bids, 48k BTCs worth of bids for 29k BTCs I suspect from these numbers one could take an educated guess about the amount per btc, right? maybe someone with a mind for arithmetic can take a look but it seems to me that if 186 bids were made by 42 ppl thats 4~5 bids per person, or each coin had 1.5~ bids each on avg... in that case, 48k / 1.5 would be 32k = 3k more than 29k, so each coin was won at 10% more than market... i made a mistake somewhere in there right? lol http://newsbtc.com/2014/06/30/us-mar...tcoin-auction/Yep, that means this price did NOT win any of the auction blocks: $670 No, second market's highest bid was $750, their average of all bids is $670 (they put in a few low ball bids too, like $600). They have announced that they did not win any bids. So this means that this price did not win any of the auction blocks: $750 |
btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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abercrombie (OP)
Legendary
Offline
Activity: 1159
Merit: 1001
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July 01, 2014, 02:20:25 PM |
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great news! also newsbtc reports: 42 bidders, 186 bids, 48k BTCs worth of bids for 29k BTCs I suspect from these numbers one could take an educated guess about the amount per btc, right? maybe someone with a mind for arithmetic can take a look but it seems to me that if 186 bids were made by 42 ppl thats 4~5 bids per person, or each coin had 1.5~ bids each on avg... in that case, 48k / 1.5 would be 32k = 3k more than 29k, so each coin was won at 10% more than market... i made a mistake somewhere in there right? lol http://newsbtc.com/2014/06/30/us-mar...tcoin-auction/Yep, that means this price did NOT win any of the auction blocks: $670 No, second market's highest bid was $750, their average of all bids is $670 (they put in a few low ball bids too, like $600). They have announced that they did not win any bids. So this means that this price did not win any of the auction blocks: $750 Do you have a link to reference the $750 bid? |
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