Govt Auction... Round 3

[mercistheman]

50,000 btc to be auctioned on March 5th.
http://dealbook.nytimes.com/2015/02/18/u-s-announces-third-bitcoin-auction/?_r=0

[newIndia]

50,000 btc to be auctioned on March 5th.
http://dealbook.nytimes.com/2015/02/18/u-s-announces-third-bitcoin-auction/?_r=0

Old story: http://www.coindesk.com/us-marshals-auction-50000-bitcoins-march/

[jt byte]

wow, Whales need to buy the 50K as low as possible and then they will let it rise

[AgentofCoin]

wow, Whales need to buy the 50K as low as possible and then they will let it rise

Usually exchanges buy them.

[mercistheman]

50,000 btc to be auctioned on March 5th.
http://dealbook.nytimes.com/2015/02/18/u-s-announces-third-bitcoin-auction/?_r=0

Old story: http://www.coindesk.com/us-marshals-auction-50000-bitcoins-march/

Old?... as in less than one day.

I don't see as many players this time... when each time they could have waited and got in cheaper. Draper in or out?

[bitwarrior]

Another BTC auction with 50k coins. I wonder what will be the moving effect on the price this time? Lower than $200 when the auction starts?

[FPForum]

I wasn't aware of this news.. Thanks for sharing!

[hardhouseinc]

I wish the world would BOYCOTT these thieves.
They dont deserve a dime for STEALING from him.
He got railroaded to a guilty verdict with trumped up charges
and they sell off his possessions.  Land of the free.....

[redhawk979]

I wish the world would BOYCOTT these thieves.
They dont deserve a dime for STEALING from him.
He got railroaded to a guilty verdict with trumped up charges
and they sell off his possessions.  Land of the free.....

Yea just like Pablo Escobar. Just a man tryin to make money and the colombian govt stomped all over a hard working entrepreneur.

[fonzie]

I wish the world would BOYCOTT these thieves.
They dont deserve a dime for STEALING from him.
He got railroaded to a guilty verdict with trumped up charges
and they sell off his possessions.  Land of the free.....

Yea just like Pablo Escobar. Just a man tryin to make money and the colombian govt stomped all over a hard working entrepreneur.

 

[kolloh]

Let's hope that this auction doesn't negatively affect the BTC price too much.

[AgentofCoin]

Let's hope that this auction doesn't negatively affect the BTC price too much.

These coins aren't usually dumped on the market.
Exchanges usually buy them at a good price and sell them for a better price.

Hacked coins are usually dumped coins.

[slacknation]

Let's hope that this auction doesn't negatively affect the BTC price too much.

These coins aren't usually dumped on the market.
Exchanges usually buy them at a good price and sell them for a better price.

Hacked coins are usually dumped coins.

if exchanges got these coins, you can be sure that they bought below market price and will sell them for a profit whenever they had the chance (look at their past low bids).

anyway the discussion is on people lowing the market exchange rate so that the auction will take place when the bitcoin price is low

on the other hand, there are lots of hacked coins that became dormant for a period of time

[calme]

Violence is one thing, but there is nothing wrong with selling or doing drugs. I did crack/heroin/acid/etc. on weekends when I was a kid and looking back on it don't feel like I was a victim of anything other than the government enforcement. It was fun and contributed to my youth and quality/variety of life. Those coins were stolen by the U.S. government.

[AgentofCoin]

Let's hope that this auction doesn't negatively affect the BTC price too much.

These coins aren't usually dumped on the market.
Exchanges usually buy them at a good price and sell them for a better price.

Hacked coins are usually dumped coins.

...
anyway the discussion is on people lowing the market exchange rate so that the auction will take place when the bitcoin price is low
...

The idea that "people" are lowering the BTC price, in advance of the auction is delusional. Only exchanges could do that with manipulation.
Last round of US GOV auction didn't even have much interest of bidders, to buy up the cheaper coins.
BTC price decline to due to BTC reaching its current actual reasonable price.
Its not like after all the auctions, BTC is gonna jump to $800.

[GrandmaJean]

wow, Whales need to buy the 50K as low as possible and then they will let it rise

Usually exchanges buy them.

This is not true. The first time the gov auctioned off coins, Tim Draper bought all of them. The second time the gov auctioned coins (this was a bigger auction then the first) Draper bought some, and the identity of the rest of the buyers is not known (although it is likely that of exchanges/second market).

tl;dr - in half of the auctions exchanges purchased none of the coins

[AgentofCoin]

wow, Whales need to buy the 50K as low as possible and then they will let it rise

Usually exchanges buy them.

This is not true. The first time the gov auctioned off coins, Tim Draper bought all of them. The second time the gov auctioned coins (this was a bigger auction then the first) Draper bought some, and the identity of the rest of the buyers is not known (although it is likely that of exchanges/second market).

tl;dr - in half of the auctions exchanges purchased none of the coins

After checking, you are correct.
Exchanges/investment firms bid on them in both auctions, but yes Draper won them all in the first go around (30,000 btc).
In the second auction, Draper won 2,000 btc and the remaining 48,000 btc went to secondmarket.
http://www.coindesk.com/secondmarket-syndicate-bidders-real-winners-bitcoin-auction/

[tadakaluri]

Every time when US Marshals Dump Bitcoins in Auction, the price is going down. This time also it may happen.

[kolloh]

I wonder if Draper will buy anymore in this 3rd auction or not.

[tins]

I wonder if Draper will buy anymore in this 3rd auction or not.

I would think that's a given...an opportunity to decrease average buyin price for the total auctioned coins. On top of that, to make sure they are in the hands of a "Bitcoin person".

[Kprawn]

It is acctually not about, who is buying them, but more about... what they do with them.

If a private buyer like Tim buy them and he hoards them, the price should stay the same. {It was hoarded by the Government and then it was once again hoarded by a private buyer}

It should only have a impact on the price, if someone buy the coins for a "cheap" price and sell them all at a exchange. {Supply & demand... the more BTC dropped on a exchange, would increase the supply and in theory will push the price down, if that supply exceeds the demand for it.}

So let's hope, whoever buy them, will hoard them.... or release them in small quantities over a longer period to keep the price stable.  

[bryant.coleman]

Definitely a once in a lifetime opportunity to buy this much amount of Bitcoins at sub-300 USD price range. I hope that the auction attracts a lot of interest from big players, although I can't agree 100% with the ethical perspective of the sale. 

[Divinespark]

Not a bad price if you have the small change to bid for a block

[ericjarvies]

Firstly, the United States government is no friend to the American people.  

As such, the American people -especially those closest to the Bitcoin epicenter, should in no way support or advocate the purchasing of said coins from the government... via government auction or otherwise.  

Purchasing those coins from the government is essentially rewarding the government, and for what?  For their absolute control over the American people?  For their oppression?  For their circumvention of the Constitucion and bending and breaking of law?  For punishing people with lifetime incarceration sentences into small little cement boxes for otherwise victimless crimes wherein all the participants are consensual?

The blockchain possesses the power to decentralize every aspect of life -from banking to government, in a trust-less manner.  Yet, so long as people remain complainant and foolishly reward a government that is entirely opposed to them (the people), then so shall the people continue to live under an increasingly escalating police state.

People should avoid those coins (those being auctioned by the government) like the plague.

Eric

[Fabrizio89]

Many people say there's a huge interest for Bitcoin at around 220. This auction could verify this sentiment as insiders will surely play the market accordingly.

[bryant.coleman]

People should avoid those coins (those being auctioned by the government) like the plague.

As I have stated before, I don't agree 100% with this auction on ethical grounds. But at the same time, we need to take these coins away from the US government.

[koelen3]

I heard they have another 44k after this 50k auction

[bryant.coleman]

I heard they have another 44k after this 50k auction

A total of BTC144,000 was seized from Ross Ulbricht by the FBI.

In the first auction, some 30,000 coins were sold. 50,000 more were sold during the second auction. After the third auction, some 14,000 coins will remain with the FBI.

[Bralex]

The thiefs are cashing in from there robbery i see 

No difference to the price that will remain terrible for quite some time to come regardless of these coins being auctioned of to no doubt someone who will sit on them for the foreseeable futrure or an exchange will whip them up who knows but the price will remain,

Terrible.

[bryant.coleman]

The thiefs are cashing in from there robbery i see 

Mark Karpeles stole BTC850,000 and he is still living freely and happily.  The Sheep Marketplace thief is nowhere to be found after stealing some BTC200,000 coins. And now FBI stealing another BTC180,000. Bitcoin is the favorite currency for thieves.

[koelen3]

I heard they have another 44k after this 50k auction

A total of BTC144,000 was seized from Ross Ulbricht by the FBI.

In the first auction, some 30,000 coins were sold. 50,000 more were sold during the second auction. After the third auction, some 14,000 coins will remain with the FBI.

Ok i got a lil wrong on that
Thanks for clarifying

[reRaise]

Well fck it i sold, this seems to be more negative than positive, for sure i think the price won't rally up for now.

[Bralex]

The thiefs are cashing in from there robbery i see 

Mark Karpeles stole BTC850,000 and he is still living freely and happily.  The Sheep Marketplace thief is nowhere to be found after stealing some BTC200,000 coins. And now FBI stealing another BTC180,000. Bitcoin is the favorite currency for thieves.

Wow thanks for that info dude i really did not know that Mark Karpeles got that much  !! I am sure he is living happily but freely that is insane amount of BTC to get away with stealing lol

Yes it is their favorite currency at the minute as there is no regulation and like you have shown they can do what they want without any kind of punishment.

850,000 btc! Unbelievable 

I am now going to look into that further.

[Lauda]

Hypocrites. Just remember the times, when they were against Bitcoin; now they are trying to sell it (again).

[viboracecata]

I bet they must be regret they have not sell all their bitcoins in one time

[HarmonLi]

Yeah that was awesome, the price was just about to go up slowly, in a sustainable manner, and then they announced the auction... On the positive side: The price didn't budge too much and one more auction to come and we're done with this circus - unless they choose to split the remaining 43k into smaller batches -.-

[SirChiko]

Every time when US Marshals Dump Bitcoins in Auction, the price is going down. This time also it may happen.

It doesn't have to. If someone known will buy them that may encourage traders to get stocked as they see publicity is interested into investing to BTC.

[Q7]

wow, Whales need to buy the 50K as low as possible and then they will let it rise

If the bitcoin ended up in the open market, it will cause the price to go down. The whales will need to buy a lot of the coins in order to manipulate that. But most likely if it is bought by btc holders who will continue to hoard, that would be the best.

[redsn0w]

wow, Whales need to buy the 50K as low as possible and then they will let it rise

If the bitcoin ended up in the open market, it will cause the price to go down. The whales will need to buy a lot of the coins in order to manipulate that. But most likely if it is bought by btc holders who will continue to hoard, that would be the best.

Sometimes this external auction "drives up" the bitcoin price in the various exchange a little bit (it is strange, but it is so), but we don't know who will win them (maybe the winner will not dump 50k bitcoins in one day).

[angeloanggam]

The thiefs are cashing in from there robbery i see 

Mark Karpeles stole BTC850,000 and he is still living freely and happily.  The Sheep Marketplace thief is nowhere to be found after stealing some BTC200,000 coins. And now FBI stealing another BTC180,000. Bitcoin is the favorite currency for thieves.

If I were him, I should be looking for a good lawyer now that Ulbricht's case is done.

[Bralex]

The thiefs are cashing in from there robbery i see 

Mark Karpeles stole BTC850,000 and he is still living freely and happily.  The Sheep Marketplace thief is nowhere to be found after stealing some BTC200,000 coins. And now FBI stealing another BTC180,000. Bitcoin is the favorite currency for thieves.

If I were him, I should be looking for a good lawyer now that Ulbricht's case is done.

Todays price roughly $200 million i am sure he has a fairly good lawyer,

Plus nothing will happen to him imo it would have already he was probably part of some government btc robbery team like the FBI

Well that is just a theory and i have no proof of course.

[AgentofCoin]

The thiefs are cashing in from there robbery i see 

Mark Karpeles stole BTC850,000 and he is still living freely and happily.  The Sheep Marketplace thief is nowhere to be found after stealing some BTC200,000 coins. And now FBI stealing another BTC180,000. Bitcoin is the favorite currency for thieves.

If I were him, I should be looking for a good lawyer now that Ulbricht's case is done.

Todays price roughly $200 million i am sure he has a fairly good lawyer,

Plus nothing will happen to him imo it would have already he was probably part of some government btc robbery team like the FBI

Well that is just a theory and i have no proof of course.

The US GOV btc robbery team is CIA & NSA.

[koelen3]

I heard they have another 44k after this 50k auction

A total of BTC144,000 was seized from Ross Ulbricht by the FBI.

In the first auction, some 30,000 coins were sold. 50,000 more were sold during the second auction. After the third auction, some 14,000 coins will remain with the FBI.

Just found that , the first 30,000 coins auctioned belonged to the silk road server (the escrow hot wallet).  They also seized 144,000 that belonged to Ross, so after the next auction of 50,000 there will indeed still be 44,000 to be auctioned off.
14,000 + 30,000 + 44,000 BTC