2015-03-06 Bitcoin Magazine - Auction Participant: Price Not Significantly below

[mercistheman]

There were 10 blocks of 3,000 bitcoin and 10 blocks of 2,000 bitcoin available for bid. According to Kardashev Capital, whose bid of $221.51 per bitcoin was approximately 17 percent under the market value of the coins as of the close of bidding on Thursday, it did not win any lots.

https://bitcoinmagazine.com/19512/us-marshals-auction-participant-price-not-significantly-market/

[1714105285]

1714105285

[lyth0s]

Well I'm just glad that the bid of 17% under market price didn't win ANY of the lots.

According to bitcoinwisdom tools if a company were to buy the coins at market price for 4 lots, total of 12,000 coins the market price would reach $300. So hopefully the coins were bought at or above market price to avoid the price creep if they got them in the market.

[unamis76]

Well I'm just glad that the bid of 17% under market price didn't win ANY of the lots.

According to bitcoinwisdom tools if a company were to buy the coins at market price for 4 lots, total of 12,000 coins the market price would reach $300. So hopefully the coins were bought at or above market price to avoid the price creep if they got them in the market.

I'm not seeing any coins being taken at under 5% market price... Everyone wants to outbid everyone and the competition won't make them cheap coins

[Kprawn]

Well, I would want them to buy above market price... it will keep the coins away from the exchanges for a while and it will increase confidence in the currency in the markets, if it sells above the market price.

I hope we will get some more detailed information soon... auctions sucks! You have to guess who the buyers where and it creates speculation and rumors.

Let's hope it's a hoarder. 

[TraderTimm]

This comes up every time there's an auction.

Only a complete moron would under-bid. Auctions are inherently designed to extract the maximum price possible. I wouldn't be surprised if it were like the prior auction, where most bid above "spot" rates to secure one of the lots.

But, as always, people keep thinking that everyone will bid low -- but this isn't a supermarket clearance bin.