Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
I don't know why everyone is so focused on sebs auction as whatever effect it has on the market it will not last long. He is basically just giving out money by selling them all in one batch.
I do agree that the best time to buy will be right before some good news on gen3 which will probably be a while.
Giving out money, or raking in a quick $300k? If you need cash fast, wanna buy a house, whatever, why not? if he believes as you do that they can be snatched up for 1/2 price in a couple months, why not? If you don't want to access or disperse your main stash, or board seat, selling a few spare shares for cash seems like a good plan
I don't know his situation but I wonder who "needs" 300K US$ quickly and for what.
He could always auction a few and come back later, or try selling them in Havelock if that's possible (maybe agree to a % deal with them).
I believe 99% of the scenarios where this makes sense, are those where he believes the price will continue sinking, and fast.