Post
Topic
Board Bitcoin Discussion
Re: Is the rumor about the latest 50,000 BTC auction true?
by
thompete
on 06/03/2015, 09:39:47 UTC
No, of course not. If the current bidding price is 10% or 20% above the market, why the hell would a sane person bid even more, rather than just buying directly from the market?

2 reasons, First you can't buy 50K straight from the market as the prices will increase by 10% even by buying 5K bitcoins.
And you will have to trust a large amount with a third party while doing so.