Is the rumor about the latest 50,000 BTC auction true?

[Xiaoxiao]

That it was sold 30% (!!!) above market price?  Could someone find any news links or any person from say CoinDesk confirm this?

[xfli]

Really?
It is not possible！

[uvt9]

I heard even the bidders don't know the result until tomorrow, so your rumor is probably false.

One can easily, slowly buy 50k in the market without raising the price 30%, they don't need to do so in the auction. Personally i believe auctioned coins would be sold at lower price than the market.

[ChuckBuck]

That it was sold 30% (!!!) above market price?  Could someone find any news links or any person from say CoinDesk confirm this?

Rumor only for now:

https://twitter.com/CryptoKees/status/573577241235423232

No confirmation from any news source yet.


This is the more moving piece of rumor/news though:

https://twitter.com/btcchina/status/573574299455455234

No one moves Bitcoin quite like China does...

[uvt9]

This is the more moving piece of rumor/news though:

https://twitter.com/btcchina/status/573574299455455234

No one moves Bitcoin quite like China does...

That's a misleading tweet, the linked article was just "opinion" of a guy who invested in BTC. There is no official things from government. I thought BTCchina misunderstood "lawyer" to "law maker".

[ChuckBuck]

This is the more moving piece of rumor/news though:

https://twitter.com/btcchina/status/573574299455455234

No one moves Bitcoin quite like China does...

That's a misleading tweet, the linked article was just "opinion" of a guy who invested in BTC. There is no official things from government. I thought BTCchina misunderstood "lawyer" to "law maker".

Yea, it's an old linked article an all, but you know speculators look at anything to get insider scoop.

Any tweet from a half way legit source, and they take it as gospel without real confirmation.

You know the saying...BUY THE RUMOR!

[ajareselde]

That it was sold 30% (!!!) above market price?  Could someone find any news links or any person from say CoinDesk confirm this?

Noone can confirm since its just rumors started by people owning bitcoins and trying to increase the price.
Its in the hands of the participants now to manipulate the market a bit, since they are the only ones knowing the truth.

cheers

[bitllionaire]

I don't know if we will know it but I don't see it so difficult it is not a high price for that huge amount of bitcoin,that would be pretty difficult to get

[blumangroup]

That it was sold 30% (!!!) above market price?  Could someone find any news links or any person from say CoinDesk confirm this?

It is what it is friend it was a rumor but it could well be around that % either over or under lol If they wanted to sell 50k then the seller would have to give them a good deal as selling 50k would lose some of the value as well as if you buy 50k it will raise the price, the rumors are just common sense.

[bri912678]

That it was sold 30% (!!!) above market price?  Could someone find any news links or any person from say CoinDesk confirm this?

Rumor only for now:

https://twitter.com/CryptoKees/status/573577241235423232

No confirmation from any news source yet.


...

Why would anyone trust this?



The Sparood bitcointalk account links to the twitter account that the rumor came from (https://twitter.com/cryptokees)


https://bitcointalk.org/index.php?topic=673734.msg7889951#msg7889951

He's not even a senior member.

The link in his tweet unshortens to http://www.coindesk.com/third-usms-bitcoin-auction-bidder-interest/ which makes no mention of 30% above market price.

Everything is based on the word of a full member account who was promoting a shitcoin like plankton.

[cakir]

It's quite possible.

Buying seized bitcoins creates prestige for the buyer, also it comes with some perks,
for instance; "US Government Launders Dark Money". Imagine how hilarious is that (US Government launders money for you).

[OgNasty]

They always sell for above market price.  Same would happen if you tried to buy 50,000 BTC from an exchange.  The benefit here is you are buying from the US government, so you don't have to worry about trusting some startup company with millions of your dollars.

[bri912678]

Yes, but the rumor was based on a low ranking account here saying "anonymous source confirms". He's not speculating, he's saying he knows it's a fact because his highly placed "source" has confirmed it. Yeah right.

[thompete]

They always sell for above market price.  Same would happen if you tried to buy 50,000 BTC from an exchange.  The benefit here is you are buying from the US government, so you don't have to worry about trusting some startup company with millions of your dollars.

Yes they do, along with the trust, they won't be driving the price up while buying. But 30% is still a big amount that will be charged extra.

[koelen3]

That can't be true 30% is way too much high ,the news isn't confirmed yet , so it might be just a Rumour

They always sell for above market price.  Same would happen if you tried to buy 50,000 BTC from an exchange.  The benefit here is you are buying from the US government, so you don't have to worry about trusting some startup company with millions of your dollars.

Yes , that does gaurantee the trust and that they will not loose it , but even if they decide to buy from exchange , they can buy in steps and save that , 30% is way to high to believe it !

[DieJohnny]

I heard even the bidders don't know the result until tomorrow, so your rumor is probably false.

One can easily, slowly buy 50k in the market without raising the price 30%, they don't need to do so in the auction. Personally i believe auctioned coins would be sold at lower price than the market.

lets see you can deposit several million into an exchange and buy online or buy through the government.... easily worth a premium to buy from a trusted seller like the US govt over BitTramp

[Xiaoxiao]

So coindesk confirms the 30% over market price?

[Bananana]

So coindesk confirms the 30% over market price?

I don't get it, why would people buy it above market price? Might as well just buy it from exchange site.

[calme]

Maybe they don't trust the current exchange sites. Especially if they are hedge funds/mutual funds/etc. dealing with other ppl's money. And maybe they're so bullish that they're buying from exchange sites too.

[NUFCrichard]

So coindesk confirms the 30% over market price?

It isn't on coindesk, nor should it be if it is an unconfirmed rumour.
It seems really unlikely that someone would pay such a large premium.  I understand that it would be difficult to buy 10k or more on an exchange due to lack of liquidity, but 30% is ridiculous!

Apparently we should find out the results of the auction on Monday, I would expect some leaks before then, so watch out for some big buys in the mean time.  In penny stocks, usually the stock price rises or falls to the level of a placement shortly afterwards, I would expect something similar here, so 270+30% would be a rise to $345 or so in short order, that would be nice!