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".