Post
Topic
Board Speculation
Re: Effect of Ulbricht's 50,000 Btc Auction
by
bri912678
on 07/03/2015, 15:46:39 UTC
it is unlikely that these auctions will drive price down. here is an article about the guy who won in the last 2 auctions: http://www.coindesk.com/tim-draper-wins-2000-btc-second-bitcoin-auction/

He was probably bidding in this most recent auction too. He uses the Bitcoin to fund start up companies.

From what ive heard draper has either not bid or hasnt won this auction, think the last 2k he bought was the final lot for him.

"bitcoins sold closer to or even above market price"  (but just barely over, quoted from an underbidder)  They wont be dumped. They will simply provide liquidity to the growing numbers of exchanges.

The losing bidder was Kardashev Capital who bid $221.51

They might have only bid on one lot too. We have nothing solid to go on except it was above $221.51 for one or more lots.

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

Quote
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.

“While we’re disappointed to learn that we weren’t a winning bidder, I’m glad to hear that the bitcoins sold closer to or even above market price,” said Kardashev Capital partner Greg Gum.

I'm not exactly surprised his bid didn't get filled.