

Bitcoin Markets React to US Marshal Auction Close - cedricdahl
http://buttercoinmarketupdate.posthaven.com/markets-react-to-us-marshal-auction-close-lighthouse

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everettForth
"A weighted random number generator just produced a new batch of numbers."
"Let's use them to build narratives!"
\--[http://xkcd.com/904/](http://xkcd.com/904/)

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saraid216
The next step, obviously, is a Markov chain sentence generator based on this.
Hell, I'd like to see a completely AI-generated news site that works off
scraping current events and a market report.

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TomGullen
Secondmarket who were touted as one of the biggest potential bidders who also
ran a bidding syndicate just announced they were outbid on all blocks:
[https://twitter.com/barrysilbert/status/483692873855299584](https://twitter.com/barrysilbert/status/483692873855299584)

Very bullish news. Still waiting for someone to announce the prices they bid
at though.

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nly
How is a 2.4% price jump in a market as volatile and illiquid as bitcoin
indicative of anything?

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haakon
Since the post was published three days ago, bitcoin is up about 12%.

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JohnTHaller
But bitcoin can just as easily lose 10% in a day without surprising anyone.
So, that's still not exactly bullish.

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tlrobinson
Note that this assumes the markets believe all bitcoins are fungible. There
was some speculation buyers might pay a premium for coins held by the US
government because they would be considered "clean".

That said, if you don't believe Bitcoins to be fungible I think you'd be crazy
to buy millions of dollars worth of them. Bitcoin becomes far less useful if
everyone has to worry whether their Bitcoins won't be accepted by certain
users.

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Ajoo
I always thought these Bitcoins might command a premium due to no counterparty
risk and no need to give personal information to sketchy companies. Although
from what I understand many bitcoin enthusiasts don't necessarily thrust the
US government either...

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javert
More likely in my opinion: They might command a premium because buying them
like this would be a lot less expensive than buying the same quantity on the
open markets, where you would likely drive the price way up before you
finished purchasing your target quantity.

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TrainedMonkey
Keep in mind, that this is pure speculation. There is no evidence whatsoever
that whoever bought bitcoins below a certain price is in any way connected to
the bidders, or even that those bitcoins were bought by a single individual.

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tlrobinson
Is the timestamp on this post incorrect? "Posted 3 days ago. June 27, 2014 at
7:44 PM"

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clamprecht
The chart in the blog post is also from june 27-28, so it looks like you're
right.

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ISL
Today's jump may have more to do with this news from IRS:

[http://www.forbes.com/sites/kellyphillipserb/2014/06/30/irs-...](http://www.forbes.com/sites/kellyphillipserb/2014/06/30/irs-
says-bitcoin-not-reportable-on-fbar-for-now/)

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mrb
No. This IRS news was known more than 3 weeks ago: [http://www.bna.com/irs-no-
bitcoin-n17179891056/](http://www.bna.com/irs-no-bitcoin-n17179891056/)

