Anyone care to take a guess as to how will this affect Bitcoin price?
It will only serve to legitimize bitcoin if anything causing a possible increase in price and won't directly affect the price through the sale.
For Sale: 29,656.51306529 Bitcoins
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Re: For Sale: 29,656.51306529 Bitcoins
#22The price of bitcoins has already dropped 10% since the news.
Re: For Sale: 29,656.51306529 Bitcoins
#23Anyone care to take a guess as to how will this affect Bitcoin price?
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Re: For Sale: 29,656.51306529 Bitcoins
#24Will they announce the winning bidders?
Those coins will then be linked to the winners' identities permanently in the block chain. Talk about painting a target on oneself.
Re: For Sale: 29,656.51306529 Bitcoins
#25Earlier quoted context omitted.
Well considering that's around $16.7 million, I'm not surprised. What's more amusing is that the auction is "cash only".
I take that to mean cash in the sense of liquid assets, as opposed to something leveraged or what have you. Not cash in the sense of a briefcase full of cash.
Usually it means either cash or a cashier's check. Sometimes wire-transfer is also accepted. For lower-value items (police auctions of bikes and the like) people normally pay actual cash. For higher-value items (e.g. home foreclosure sales), people more often bring a cashier's check or wire the amount (depends on the jurisdiction).
Re: For Sale: 29,656.51306529 Bitcoins
#26Since you get a bill of sale from the US government I guess these will be the cleanest Bitcoins ever.
Street value of approx: $17,330,000 USD
I'd wager it will sell for much less, likely 3/4 of that street price.
Re: For Sale: 29,656.51306529 Bitcoins
#27Will they announce the winning bidders? Those coins will then be linked to the winners' identities permanently in the block chain. Talk about painting a target on oneself.
I'd imagine a business or bank will make the purchase, and they likely don't care about the anonymity aspects.
Re: For Sale: 29,656.51306529 Bitcoins
#28I love this part:
The USMS will not transfer bitcoins to an obscene public address, a public address apparently in a country restricted by the Office of Foreign Assets Control (OFAC), a public address apparently associated with terrorism, other criminal activities, or otherwise hostile to the United States.
So, be sure to pre-calculate your auction-winning vanity-address to be some simple transformation of your obscene/anti-American message, rather than the message itself!
Re: For Sale: 29,656.51306529 Bitcoins
#29Anyone care to take a guess as to how will this affect Bitcoin price?
It's dropped about 10% since the news.
Re: For Sale: 29,656.51306529 Bitcoins
#30wait...so you have to deposit $200k in order to bid???
Standard Operating Procedure. They're not treating this any differently than any other auction. For instance this truck requires a $2070 deposit to bid: http://gsaauctions.gov/gsaauctions/aucdsclnk?sl=41QSCI142190...