Post
Topic
Board Bitcoin Discussion
Re: Silk Road Bitcoin Auction Winner Tim Draper Won't Say How Much He Paid
by
Light
on 03/07/2014, 11:04:54 UTC
Why do you say that he must have paid below the current market rate?

Because, from what I've read from speculators, it would create a perception that the coins *should* be valued at that price point as well as some degree of fear that Draper could sell them off now for a quick profit. Clearly, if it was the case Draper wouldn't want to devalue his own holdings by stating something that he doesn't have to. Personally, I'm not sure whether I agree with the reasoning, but then again humanity isn't exactly that logical, so reasoning doesn't always explain pricing fluctuations.