50K Silk road coins to be auctioned 5 March.

[thompete]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

[Webnet]

those coins should be given to charity

[Cryddit]

those coins should be given to charity

I've heard people say that several times.  I have not yet understood the reasoning behind it.  It's not as though Silk Road was operating to raise money for charities.

[Exther2]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

If that is correct then there is no reason to worry about price, as the new owner would not sell at current price.
It might be a problem for future, when price goes up, as it have to, because of mining difficulty.

[Bitcoin Explorer]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

If that is correct then there is no reason to worry about price, as the new owner would not sell at current price.
It might be a problem for future, when price goes up, as it have to, because of mining difficulty.

Do you think, that if the bidders are paying 30% more, the price will increase in the next couple of days?

[thompete]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

If that is correct then there is no reason to worry about price, as the new owner would not sell at current price.
It might be a problem for future, when price goes up, as it have to, because of mining difficulty.

Do you think, that if the bidders are paying 30% more, the price will increase in the next couple of days?

Here is a link which also shows more interest this year ; http://www.coindesk.com/third-usms-bitcoin-auction-bidder-interest/
As for price increasing , its hard to say. One reason price is higher to buy large quantity is to not skyrocket the price while buying that much quantity from the exchanges.

[Bitcoin Explorer]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

If that is correct then there is no reason to worry about price, as the new owner would not sell at current price.
It might be a problem for future, when price goes up, as it have to, because of mining difficulty.

Do you think, that if the bidders are paying 30% more, the price will increase in the next couple of days?

Here is a link which also shows more interest this year ; http://www.coindesk.com/third-usms-bitcoin-auction-bidder-interest/
As for price increasing , its hard to say. One reason price is higher to buy large quantity is to not skyrocket the price while buying that much quantity from the exchanges.

Thanks for the link. Read it thoroughly, and I get what you say, you cant really predict

[Cryddit]

What this tells us is that there are whales who are acquiring bitcoin  but are willing to pay a 30% premium on coins they buy offmarket just to keep the public market at a low price.  

This is also a good explanation for the hard price support we've seen in the $250 range -- whenever the price drops to about there, trade volume goes up dramatically, and this is happening while the smaller holders are getting scared of the market being low and cashing out.  These whales have already been quietly buying in large volume, but in small amounts and at price lows, so as to not junkstart the market.

They're afraid that if they moved on the public market, they'd set off another bubble and wouldn't be able to continue acquiring coins there cheaply.

And they clearly have the wealth to move on the public market, set off another bubble, and then sell the coins they've bought at market lows or offmarket, after another huge price spike and runup.  Long story short, it looks like they're preparing to run the big-money version of a pump-and-dump.

This is what I call "Interesting."  

[Amph]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

that would have increase the price a bit, if they were selling it on exchange, but as a private transaction, it won't affect it

i'm curious to know who bought those chunks

[Exther2]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

that would have increase the price a bit, if they were selling it on exchange, but as a private transaction, it won't affect it

i'm curious to know who bought those chunks

If it is private auction, or if buyer wants to stay anon, we will never know.

[Quickseller]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

No you didn't. The price the bidders are paying is private and will not be disclosed to the public. Additionally it is most likely that the coins sold for a discount as few people have sufficient funds to buy that much bitcoin at one time

[rikfredsy]

Is the auction running right now or finished  i was waiting a huge price drop after the auction , like the last one price drop to 190 $
and now still didn't return to 350  .

[resya]

Is the auction running right now or finished  i was waiting a huge price drop after the auction , like the last one price drop to 190 $
and now still didn't return to 350  .

There is no reason for the price to collapse. just rumors and fear from people trying to incite panic. The actual buyers of the auction bitcoins will use them to start Bitcoin companies and drive prices even higher.

[cheekychap]

Is the auction running right now or finished  i was waiting a huge price drop after the auction , like the last one price drop to 190 $
and now still didn't return to 350  .

I think it finished and the list of final bidders and the people being awarded will come out on 9th March

[Amph]

I just read that the bidders will be paying 30% more than the usual market price. Seems a pretty steepp cost they will have to pay for those coins.
Thats almost 100$ more than the current market price.

that would have increase the price a bit, if they were selling it on exchange, but as a private transaction, it won't affect it

i'm curious to know who bought those chunks

If it is private auction, or if buyer wants to stay anon, we will never know.

apparently the name of the buyers will be announced on 9th, see user above me

[BootstrapCoinDev]

Is the auction running right now or finished  i was waiting a huge price drop after the auction , like the last one price drop to 190 $
and now still didn't return to 350  .

There is no reason for the price to collapse. just rumors and fear from people trying to incite panic. The actual buyers of the auction bitcoins will use them to start Bitcoin companies and drive prices even higher.

Yes, hopefully it will help the price to get over 50 and 61 fibonacci retracement levels. That last green candle was pretty nice.

[CrackedLogic]

https://www.reddit.com/r/Bitcoin/comments/2ykjsb/auction_coins_have_been_distributed/

Does anybody know what they were sold for?