All I really want to know if they had to bet against another bunch of other crypto people to get the 3 million price... or if the 3 million was their first and only offer on a $60k book??
Based on how I understand the ContitutionDAO went down the problem is it’s clear to others what funds these things have available going into an auction (as it’s organised publicly).
In ConstitutionDAO’s case it means they were narrowly outbid. In this case the suggestion is it makes it safe for any second buyer to make high bids, knowing the DAO will counter up to a certain amount.
