The new bearwhale: US Marshals

[onewiseguy]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

[NotLambchop]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

If it was currency, why would they be auctioning it off? 
"The first lot in today's auction is $5000.  Do I here $10?"

[traderCJ]

^"Overall, the number of registered bidders decreased 75% from the first auction, while the number of bids fell 57%."
The theory that exchange prices were being manipulated down by prospective bidders also has [predictably] turned out to be bunk.

I realize denying grim facts is a thing in trashy melodrama--a women clings to her freshly-shot lover, screaming "Oh no no you can't be dead no God no etc., etc."  This effective dramatic device falls flat, tho, when voiced by a d00d named traderCJ--an interweb money changer about to become a poor interweb money changer.

TL;DR: give it up, bro.

Huh?  Yeaaaah, something tells me most things that come across your desk fall into the TL;DR category. 

[fewcoins]

^ Because everyone knows the great technology from bitcoin will be stolen for something that is cheaper to mint (mine)

 ....because a coin thats cheap and easy to mine will have more value? Right?

Sorry - you lost me here!

No not a coin... Paper money has huge profit margin because it doesn't take much to produce & that's why it is widely used. Digital currency doesn't have to be "mined" in a horrible costly process. Instead they can use the blockchain and other features into actual digital currency that they can just release a set amount of & other amounts whenever they want just like they do everyday.

[marvinrouge]

https://twitter.com/dan_pantera/status/540669052797341696

Bidding closed for US Marshals #Bitcoin auction. Pantera placed bids below the market. Results out tomorrow by 2pm PST. Probably earlier.

= results before today 10PM GMT

[NotLambchop]

^"Overall, the number of registered bidders decreased 75% from the first auction, while the number of bids fell 57%."
The theory that exchange prices were being manipulated down by prospective bidders also has [predictably] turned out to be bunk.

I realize denying grim facts is a thing in trashy melodrama--a woman clings to her freshly-shot lover, screaming "Oh no no you can't be dead no God no etc., etc."  This effective dramatic device falls flat, tho, when voiced by a d00d named traderCJ--an interweb money changer about to become a poor interweb money changer.

TL;DR: give it up, bro.

Huh?  Yeaaaah, something tells me most things that come across your desk fall into the TL;DR category.  

You sincerely don't understand that all the evidence--from Bitcoin press to bidder sentiment to poor bidder turnout points to lower winning bids, while the only thing suggesting above market bids is a bunch of overinvested, delusional bagholders?

Edit:

...So you're suggesting that the coins will auction for less than market value, taking slippage into account?

Yes.



Continue hodling, bro.  I'll be sure to send you a condolences gif when your money's gone.

[Kupsi]

Barry Silbert:

Results of our US Marshals bitcoin syndicate:
 
Bids received - 104
BTC quantity bid - 124,127
 
Winners notified by USMS today

https://twitter.com/barrysilbert/status/540865242801405952

[cbeast]

[NotLambchop]

Barry Silbert:

Results of our US Marshals bitcoin syndicate:
 
Bids received - 104
BTC quantity bid - 124,127
 
Winners notified by USMS today

https://twitter.com/barrysilbert/status/540865242801405952

"The USMS data, distributed via email, indicates that the number of bidders in the agency's second bitcoin auction has declined significantly from the first auction held this June.

That auction, which received widespread media coverage in the US and had an observable affect on bitcoin's market, attracted a total of 45 registered bidders, who placed 63 bids over the course of the auction. By contrast, 11 registered bidders participated in today's auction, submitting a total of just 27 bids.

Overall, the number of registered bidders decreased 75% from the first auction, while the number of bids fell 57%." -- http://www.coindesk.com/us-marshals-bidder-turnout-second-bitcoin-auction-declines-sharply/

[freedomno1]

Barry Silbert:

Results of our US Marshals bitcoin syndicate:
 
Bids received - 104
BTC quantity bid - 124,127
 
Winners notified by USMS today

https://twitter.com/barrysilbert/status/540865242801405952

This will be interesting
Thanks for the twitter post ^^

[adaseb]

I am surprised there was no rally today into the news.

Assumed it was goin to be like last time. Buy the rumor and sell the news.

[picolo]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

They don't sell illegal assets such as drugs but they can sell anything else in auction and they do.

I am surprised there was no rally today into the news.

Assumed it was goin to be like last time. Buy the rumor and sell the news.

Yes buy the rumor and sell the news

[JLynn171]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

If it was currency, why would they be auctioning it off? 
"The first lot in today's auction is $5000.  Do I here $10?"

exactly... u cant auction of $... only coins and valuables that the going price is whateer the auction participants feel it is worth

[cbeast]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

If it was currency, why would they be auctioning it off? 
"The first lot in today's auction is $5000.  Do I here $10?"

exactly... u cant auction of $... only coins and valuables that the going price is whateer the auction participants feel it is worth

What would you pay for a us minted silver Dollar?

[picolo]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

If it was currency, why would they be auctioning it off? 
"The first lot in today's auction is $5000.  Do I here $10?"

exactly... u cant auction of $... only coins and valuables that the going price is whateer the auction participants feel it is worth

If they get Euro they probably sell it for Dollar.
They could exchange Bitcoin on exchanges but they don't because they don't trust exchanges, don't want to move the market lower and get less for their bitcoins or because they consider bitcoins as a commodity.

[bitcoinmining]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

If it was currency, why would they be auctioning it off? 
"The first lot in today's auction is $5000.  Do I here $10?"

exactly... u cant auction of $... only coins and valuables that the going price is whateer the auction participants feel it is worth

If they get Euro they probably sell it for Dollar.
They could exchange Bitcoin on exchanges but they don't because they don't trust exchanges, don't want to move the market lower and get less for their bitcoins or because they consider bitcoins as a commodity.

That's good for us to make US Marshalls accept BTC as a commodity, we're going step by step. These auctions made public opinion change about BTC, cause rich people invest on them as a commodity. That's nice!

[picolo]

so if us marshals are auctioning off btc do they consider  it currency?

kind of stupid of thier laws.

If it was currency, why would they be auctioning it off? 
"The first lot in today's auction is $5000.  Do I here $10?"

exactly... u cant auction of $... only coins and valuables that the going price is whateer the auction participants feel it is worth

If they get Euro they probably sell it for Dollar.
They could exchange Bitcoin on exchanges but they don't because they don't trust exchanges, don't want to move the market lower and get less for their bitcoins or because they consider bitcoins as a commodity.

That's good for us to make US Marshalls accept BTC as a commodity, we're going step by step. These auctions made public opinion change about BTC, cause rich people invest on them as a commodity. That's nice!

Bitcoin ETFs, the need of having a liquid currency that is likely to rise in value and allows efficient storage and exchange are very bullish for Bitcoin.

[NotLambchop]

...
Bitcoin ETFs, the need of having a liquid currency that is likely to rise in value and allows efficient storage and exchange are very bullish for Bitcoin.

Not sure I understand.  Liquid currency?  Likely to raise in value?  Efficient store of value?
You've just described the opposite of Bitcoin

[inca]

...
Bitcoin ETFs, the need of having a liquid currency that is likely to rise in value and allows efficient storage and exchange are very bullish for Bitcoin.

Not sure I understand.  Liquid currency?  Likely to raise in value?  Efficient store of value?
You've just described the opposite of Bitcoin

We'll see. I suspect you will go awfully quiet in the next few weeks when the price jumps up and the downtrend is definitively broken. And if a bitcoin ETF is approved then the price could easily do another 10x rise driven by an influx of cheap investment money chasing gains.

[NotLambchop]

... in the next few weeks when the price jumps up and the downtrend is definitively broken...