FBI Auctioned/US Marshall coins moved. Price to go to the moon!!!

[Elwar]

100000 BTC and 44341 BTC moved out of the FBI address.

https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

One block is great news, it was not broken into small amounts.

Here is a full breakdown of the results:
https://bitcointalk.org/index.php?topic=887313.0

[tarmi]

too bad they were selling only 50 k this time, so they are probably moving coins to their addresses first.

[Elwar]

The 100k block of coins were split into several 5k blocks and one 52k block:

https://www.blocktrail.com/BTC/tx/e696b24eb87e58c546156ead075055c3c27a8a6b2637f19941d58cb7349eb88d

[Brooker]

Why would this effect the price let alone make the price 'go to the moon'? What does the guy who bought them plan to do with them?

[fryarminer]

Why would this effect the price let alone make the price 'go to the moon'? What does the guy who bought them plan to do with them?

Yeah I'm not following the logic here either.

[Flashman]

hah, think someone put the tx fee in wrong, the blocks end up at 4999  and change

Buyers gonna cause shit.

[Hexadecibel]

I think some of the reasoning is that since the silk road BTC confiscation there has been lots of fear and uncertainty what the fate of those coins would do to the market.

Now that the coins have finally left federal hands and are back in the ecosystem some of that fear is alleviated.

[Febo]

It was actually quite stupid speculation. It was known they will not just dump them but sell with earlier announcement.  There are still lots of bitcoins in much weaker hands that was FBI ones.

[Clegg]

Why would this effect the price let alone make the price 'go to the moon'? What does the guy who bought them plan to do with them?

Yeah I'm not following the logic here either.

People just like to say this when pretty much anything happens no matter how in/significant  .

[DiabolusLoki]

Market will definitely move, so it's time to short.

[panju1]

I think some of the reasoning is that since the silk road BTC confiscation there has been lots of fear and uncertainty what the fate of those coins would do to the market.

Now that the coins have finally left federal hands and are back in the ecosystem some of that fear is alleviated.

If the guys who bought the coins plan to dump them in exchanges, it doesn't help if the uncertainty is removed.
Price will go down all the same if (and when) these coins are dumped.

[malaimult]

100000 BTC and 44341 BTC moved out of the FBI address.

https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

One block is great news, it was not broken into small amounts.

They sold ~44k coins and transferred them to the respective buyers. I know that there were at least two winners as Tim Draper won exactly one block, and it is unknown who purchased the rest. I would say the 100k were moved to another address controlled by the FBI USMS and the 44k were transferred to the buyers.

One thing I found interesting is that both transactions out of the address eventually split up the inputs to various addresses and sent amounts of .05 to several addresses.

[gogxmagog]

This will for sure send the price sideways.

[Bitcoins101]

Why would this effect the price let alone make the price 'go to the moon'? What does the guy who bought them plan to do with them?

Yeah I'm not following the logic here either.

There are strong hints of satire within his post.

[Fabrizio89]

The price won't be affected unless one of the winning bidders reveal his price, which likely won't happen since there's no major benefit to disclose that information to the public.

[Notanon]

Given the price drop as of late, I'm of the opinion that it will continue to drop, but only slightly, while the coins are reintroduced to the market, and then the price will start to go back up. Increased supply in relation to demand is my reasoning behind this.

[abyrnes81]

100000 BTC and 44341 BTC moved out of the FBI address.

https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

One block is great news, it was not broken into small amounts.

Thanks for the info , but I think it will not be possible to know all the names of the auction winners. Or Am I wrong ?

[malaimult]

100000 BTC and 44341 BTC moved out of the FBI address.

https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

One block is great news, it was not broken into small amounts.

Thanks for the info , but I think it will not be possible to know all the names of the auction winners. Or Am I wrong ?

Well it has been known for a while that Tim Draper, the same person that purchased all 30k coins from the first auction won 2,000 BTC this time around. It was also recently revealed that the second market investment trust also purchased several thousand BTC from this auction. Other then that, as of now the winners are not known, nor are the prices the winners paid

[BitmoreCoin]

The emission of BTC is 3600 per day. 100k is just 30 days of supply. So price will not go to the moon.

[Flashman]

The emission of BTC is 3600 per day. 100k is just 30 days of supply. So price will not go to the moon.

Woah and I bet it's 90% on the north side of the planet, if there's a net thrust from BTC emission we'll incline the plane of the earths orbit!!!

[elephantas1]

where they will put all the money when they sell those btc?

[malaimult]

where they will put all the money when they sell those btc?

For this particular auction it will be held by the USMS until the issue of whose money this actually is can be resolved in court.

If the court rules that the money belongs to Ross then it will go to the bank of his choosing. If the court rules that it is the government's money then I believe it will go to the US treasury.

[tins]

This will for sure send the price sideways.

Really don't see the auctions affecting BTC price in any direction, in the long run.

[dlowings]

Whenever people talk about ANYTHING going to the moon, you can bet that the next leg down is upon us .

[botany]

where they will put all the money when they sell those btc?

For this particular auction it will be held by the USMS until the issue of whose money this actually is can be resolved in court.

If the court rules that the money belongs to Ross then it will go to the bank of his choosing. If the court rules that it is the government's money then I believe it will go to the US treasury.

Hasn't this been decided in favour of the government?
If the court rules that the bitcoins actually belong to Ross, then can't Ross ask for his bitcoins back (rather than the money realized through their sale). If the price of bitcoins goes up to $1000 and Ross asks the feds for bitcoins, it would be fun. 

[JLynn171]

Im just Glad it is out of the hands of any kind of alphabet gang... crazy how they can make some much profit from wat is basically theft :-(

[Flashman]

If the court rules that the money belongs to Ross then it will go to the bank of his choosing. If the court rules that it is the government's money then I believe it will go to the US treasury.

Seems a bit weird how anxious they are to sell it when they haven't determined who gets it.

[deluxeCITY]

If the court rules that the money belongs to Ross then it will go to the bank of his choosing. If the court rules that it is the government's money then I believe it will go to the US treasury.

Seems a bit weird how anxious they are to sell it when they haven't determined who gets it.

Ross and the government actually agreed to sell the coins shortly after he was arrested (and the price was much higher), it has just taken this long to hash out the details.

Both the government and Ross agree that it would be better for both parties to sell the bitcoin and whoever is determined to own them will get the proceeds, because of the volatile nature of the price of bitcoin and the possibility they could get stolen

[Agestorzrxx]

nothing changed.

[hayabusa911]

nothing changed.

Price has gone down... 

[botany]

nothing changed.

Price has gone down... 

There are other factors at play, apart from the Silk Road coins.