Post
Topic
Board Speculation
Re: rpietila Wall Observer - the Quality TA Thread ;)
by
rpietila
on 14/06/2014, 07:05:23 UTC
i think it depends on the method of how the sr coins get sold.

Explained here:
http://www.usmarshals.gov/assets/2014/bitcoins/

Crony auction at its best. Too short notice for anyone with BTC to attend. Until next monday I am supposed to have created a bank account in the U.S., and have transferred 100% of my anticipated total bid amount into it in USD, the proceed of the bitcoin sales that I have made in the space of this few hours/days?

Sorry. This is going to achieve exactly what was intended. Almost no bids, and the ones rock-bottom. Bad publicity, resulting panic selling. Bitcoins of the people going to the hands of banksters cheaply. But really - what else did you expect?   Roll Eyes

It is actually a over a week to set up the US bank account and initiate the wire transfer for the 200,000 USD deposit. The deadline for registration is noon June 23rd 2014. For the balance of the funds on a winning bid it is July 01, 2014.

Edit: Why would anyone with BTC sell BTC to raise USD in order to participate in this auction? Hoping to get back in at a lower price? This could very easily backfire.

It said that the bolded part is also true.

I anticipate it will go at a discount. Also I want to keep the others honest by not giving too much discount. Btw. "discount" is calculated from the base price of $650, which was prevailing before the news.