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Author Topic: Only one winner for the 30k BTC from the auction!  (Read 2730 times)
Wandererfromthenorth
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July 01, 2014, 08:55:57 PM
Last edit: July 02, 2014, 07:32:23 PM by Wandererfromthenorth
 #1

Edit:  the only winner of the auction is Tim Draper!

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

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July 01, 2014, 08:57:49 PM
 #2

And the coins have a new owner!
https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55

Then I guess those coins were sold for a high price. Any news on the price?

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July 01, 2014, 08:58:58 PM
 #3

And are we going to know who the winner is?
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July 01, 2014, 08:59:57 PM
 #4

And are we going to know who the winner is?
Tom Hanks!
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July 01, 2014, 09:03:51 PM
 #5

This must be some rich invester, or a big company.
Because they just spend 20 million on bitcoins, I mean not alot of people have so much cash to buy some bitcoins.
Im sure they believe they maybe have 200 million in the future.
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July 01, 2014, 09:08:22 PM
 #6

Do I see Wells Fargo there or was that a troll?

Bitcoin = Gold on steroids
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July 01, 2014, 09:09:40 PM
 #7

And are we going to know who the winner is?

1a8LDh3qtCdMFAgRXzMrdvB8w1EG4h1Xi

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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July 01, 2014, 09:16:31 PM
 #8

This must be some rich invester, or a big company.
Because they just spend 20 million on bitcoins, I mean not alot of people have so much cash to buy some bitcoins.
Im sure they believe they maybe have 200 million in the future.

20 million is loose change for the big entities. Some might have thought why not take a punt on this thing. Remember that for them even a 5% return is huge.

I wish I had so much loose change Grin

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July 01, 2014, 09:16:43 PM
 #9

I thought this would be just another troll post, but no, this looks to be an official statement from US marshals! One single bidder won all 10 blocks? The winning bid must be well above market rate at the time? (around $580 if I remember correctly)

This is so encouraging. He/she/them must be in for the long haul and none of those coins are going to leak back into exchanges any time soon.  Wink
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July 01, 2014, 09:17:42 PM
 #10

This must be some rich invester, or a big company.
Because they just spend 20 million on bitcoins, I mean not alot of people have so much cash to buy some bitcoins.
Im sure they believe they maybe have 200 million in the future.

future could be in the next 3 months, depending on the entity (multi national company) they could even pump bitcoins themself  Grin
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July 01, 2014, 09:39:50 PM
 #11

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes
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July 01, 2014, 09:52:17 PM
 #12

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

Wait for a few minutes, exchanges require 3-6 confirmations.
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July 01, 2014, 09:56:00 PM
 #13

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

Yeah LOL!!! He would dump the coins because he needed the money!!!  Cheesy Cheesy Cheesy
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July 01, 2014, 09:59:05 PM
 #14

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

Yeah LOL!!! He would dump the coins because he needed the money!!!  Cheesy Cheesy Cheesy

1. Buy above market price
2. Sell below
3. Oops?  Huh
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July 01, 2014, 10:03:08 PM
 #15

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

Yeah LOL!!! He would dump the coins because he needed the money!!!  Cheesy Cheesy Cheesy

1. Buy above market price
2. Sell below
3. Oops?  Huh

1. Buy above market price
2. Sell below
3. * Magic *
4. Profit!!!
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July 01, 2014, 10:04:39 PM
 #16

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

Yeah LOL!!! He would dump the coins because he needed the money!!!  Cheesy Cheesy Cheesy

1. Buy above market price
2. Sell below
3. Remove fake resistance
4. Profit!

FTFY
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July 01, 2014, 10:05:27 PM
 #17

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

Yeah LOL!!! He would dump the coins because he needed the money!!!  Cheesy Cheesy Cheesy

1. Buy above market price
2. Sell below
3. Oops?  Huh

1. Buy above market price
2. Sell below
3. * Magic *
4. Profit!!!

Ah thanks I forgot the magic. Silly me.
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July 01, 2014, 10:07:34 PM
 #18

How could they let people know they lost already when the award process is ongoing? You have to pass the background check before the auction so that can't be it. I bet someone won all the blocks of coins at a high price, and if I am not mistaken, I read or heard they were selling them in chunks so no one entity could turn around and sell them. I think it was on the news clip that aired right before the auction. My guess is some bank bought them all and they are trying to revise the rules, to whose benefit I have no idea.

I called this in the wall observer thread the other day. I also give it less than 1% chance this entity sells anytime soon.
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July 01, 2014, 10:22:49 PM
 #19

Lets see how much time they need to sell it for double price. Predict one year Smiley

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July 01, 2014, 10:23:55 PM
 #20

How come the market hasn't crashed?  I thought the winner was going to instantly dump the coins?   Roll Eyes

That's what all the bears want to happen.

I will say that the mere fact the coins were bid up higher than market rates is simply due to what i was suspecting all along: that whoever did get them bid way up to keep the coins out of the hands of those who would dump them onto the market.  There is no dump of the Mt. Gox coins nor will there ever be.

This train is heading up, and will keep heading up thanks to no China in the background.
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July 02, 2014, 05:09:33 AM
 #21

Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.
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July 02, 2014, 05:23:34 AM
 #22

It could be the biggest endorsement and "validation" (in the masses' eyes) for Bitcoin ever.

Could be, yeah, but it is almost certain that we will never know who that was. Adds to the list of bitcoin mysteries like "where is satoshi" now "who bought sr coins" - everybody can see who in the blockchain, but nobody will know until they start spending.

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July 02, 2014, 01:25:12 PM
 #23

You did read the updates given, yes?  The winner is big VC Tim Draper.  Plans to work with Vaurum.

Tired of substandard power distribution in your ASIC setup???   Chris' Custom Cablez will get you sorted out right!  No job too hard so PM me for a quote
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July 02, 2014, 01:33:57 PM
 #24

Venture Capitalist Tim Draper?  The VC that has invested in over 1000 private companies since 1985 (Skype, Hotmail, Tesla, Baidu, etc.)?

But isn't this guy really just a lowly, opportunistic day trader who's going to dump all of his 30K bitcoins on the exchanges the first chance he gets, tanking the current price???

At least that's what all the really smart bitcoiners were telling everyone last week???  I don't understand what's going on???   Huh

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July 02, 2014, 01:39:43 PM
 #25

Looks like the price has started to climb already

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July 02, 2014, 01:46:51 PM
 #26

If anyone missed it , Tim Draper a VC has been revealed as the winner of nearly 30,000 BTC.
http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/

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July 02, 2014, 01:48:56 PM
 #27

might have been one of those "come invest in bitcoin" fonds. im reading more of those comming up lately.good for bitcoin i guess  Cool
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July 02, 2014, 01:51:16 PM
 #28

might have been one of those "come invest in bitcoin" fonds. im reading more of those comming up lately.good for bitcoin i guess  Cool

ha like i said. read about this guy a few days ago
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July 02, 2014, 05:17:23 PM
 #29

20 million is loose change for the big entities. Some might have thought why not take a punt on this thing. Remember that for them even a 5% return is huge.

You're completely right, I think we're not aware that 1% of people on earth possibly owe 80% of wealth, maybe even worse. For that 1%, 20 mil is like 20 cents in your pocket.

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July 02, 2014, 05:37:39 PM
 #30

Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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July 02, 2014, 06:10:59 PM
 #31

Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

Many things are illegal somewhere. I am sure most drug dealers, if given a chance, would pay their taxes properly and not resort to laundering. Just give them a chance, stop arresting them Smiley

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July 02, 2014, 07:24:52 PM
 #32

Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

Many things are illegal somewhere. I am sure most drug dealers, if given a chance, would pay their taxes properly and not resort to laundering. Just give them a chance, stop arresting them Smiley

The Feds are fucking thieves. But as the adoption of Bitcoin slowly (!) grows their power will erode away into nothing.

Sit back watch it crumble and when it burns raise your glass. Dinosaurs will die.

Raise my glass? Not before I don my monocle you heathen! Wink

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July 02, 2014, 10:04:43 PM
 #33

Hope the winner spends my stolen bitcoin on something nice.

If you aren't the sole controller of your private keys, you don't have any bitcoins.

It seems you've had to learn this lesson the hard way.

You have learned this lesson, right?

I learnt the lesson the hard way, don't store my bitcoins with 3rd parties longer than needed because you never know when some criminals will steal them.

Very happy with Tim Draper getting them. Likely this has raised the value of my other coins more than the value of the coin that was stolen so I guess even steven.

Hope the winner spends my stolen bitcoin on something nice. I was buying stuff that is legal in the US and here.

From a place that was known to be engaging in illegal drug trade money laundering....

Money laundering is a made up crime. silkroad was also known to sell bibles which are illegal in North Korea, terrible crime to sell bibles. And porn, you could actually buy porn on silkroad, that is just horrible right?
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July 02, 2014, 10:11:32 PM
 #34


Money laundering is a made up crime.

This needs to be repeated and emphasized.
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July 02, 2014, 11:13:35 PM
 #35

the impact of a whale dumping 30k on the market would lose him money.  smart whales hang onto their coins or sell them slowly.

 
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