[2014-12-03] CD: Citi: Ross Ulbricht Bitcoins Likely to Sell For Discount at USM

[LiteCoinGuy]

Citi: Ross Ulbricht Bitcoins Likely to Sell For Discount at USMS Auction

The US Marshals Service (USMS) is set to auction off 50,000 BTC seized from alleged Silk Road mastermind Ross Ulbricht this Thursday, and if a new research note from financial giant Citi proves accurate, participants may be able to obtain bitcoins at a steep discount.

http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/




i dont think so.

[CoinMode]

That is why the price dipped when Draper bought the first round of auctioned coins. He made a bid for all of the coins at the exact market price, the fair price, not a penny above, and won every single auction. When the news of this broke, everybody learned that not a single bidder had made an offer above the market.

This time around, I don't think Tim is going to take any chances, especially on a double-down purchase. When the news comes out that he won the auction by making a bid of $400-500 for the coins, then the price will get a Draper Bump, and then a NASDAQ:COIN Bump, and then a Janet Yellen Endorsement Bump, and then a Chinese No-Ban-Forever-Promise Bump, and then a Russia No-Ban-Forever-Promise Bump, and then a social media Changetip Bump, and then a...well I think you get the point.


Just remember, at this exact moment last year, if you recall, there was no chance in hell you could ever convince somebody from r/buttcoin that ANY billion dollar corporation would EVER take bitcoin as a full, legitimate payment option for all of their products and services. I spent several months, in a row, trying to show people the benefit and potential, but they all denied it 100% without hesitation, full stop. Now? Dell, Newegg, Overstock, Dish Network, Expedia, Paypal getting on board via Braintree, Ebay promising to follow Paypal's lead, Square integrating bitcoin, Virgin Galactic, and many other huge entities are now accepting bitcoin just as easily, or actually much more easily, as cash or credit.

I can't wait to go on r/buttcoin in the future.

[panju1]

All you need is one irrational (or a true believer, with a long term view) bidder to ensure that the price of bitcoin is supported during the auction. I am sure there will be a lot of people, who hope to buy low and then turn it around on exchanges to make a quick profit. But I am sure they will not win. 

[bitbouillion]

Looks like Citi got Bitcoin analyst(s).

[panju1]

Looks like Citi got Bitcoin analyst(s).

We will know very soon how good they are.
It is difficult to predict the outcome of such an uncertain event, not withstanding the amount of knowledge/intelligence you have,

[dwdoc]

Went for market price or above according to my sources.

[jbrnt]

Potential investors are bankers. Citi is giving this analysis to pave the way for those investors (Citi's clients) to buy at a huge discount. Don't believe what Citi (or any bank) say about bitcoin, conflict of interests.

[LiteCoinGuy]

and i was right with my prediction 

[botany]

and i was right with my prediction 

Do we know for sure?
I thought they didn't disclose prices...

[Ron Swanson]

Just remember, at this exact moment last year, if you recall, there was no chance in hell you could ever convince somebody from r/buttcoin that ANY billion dollar corporation would EVER take bitcoin as a full, legitimate payment option for all of their products and services. I spent several months, in a row, trying to show people the benefit and potential, but they all denied it 100% without hesitation, full stop. Now? Dell, Newegg, Overstock, Dish Network, Expedia, Paypal getting on board via Braintree, Ebay promising to follow Paypal's lead, Square integrating bitcoin, Virgin Galactic, and many other huge entities are now accepting bitcoin just as easily, or actually much more easily, as cash or credit.

I can't wait to go on r/buttcoin in the future.

Feel free to tell us which one of those companies take bitcoin and not just use bitpay or coinbase as a payment processor into USD.