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But it's an auction? Assuming that there are enough buyers with the multi-hundred-k around, they will get close to the market value.
by civilian 10y ago
But it's an auction? Assuming that there are enough buyers with the multi-hundred-k around, they will get close to the market value.
- brianwawok 10y agoBlind auction. Everyone makes 1 silent bid, highest wins.
- wmf 10y agoIf you want to buy a block of BTC above market price, there are several brokers who would be happy to help you at any time; you don't need to wait for a government auction to do that.
- kasey_junk 10y agoGood. That's what we want from asset seizure auctions.
- PhasmaFelis 10y agoIt's kind of a modified The Price Is Right mechanic, isn't it? With the difference that the actual market price is known. So each bidder's goal is to guess how slim a margin every other bidder will try for, and go $1 more than that. In the end, assuming anyone bids at all and all the bidders are rational, someone will make a profit. It just won't be a very big profit, probably.
- asdfaoeu 10y agoSealed bids are kinda beneficial here incase they only have one serious bidder.
- brianwawok 10y agoWell you have to give them 100k cash to even bid.. so you at least need to be 10% serious to have that kind of money hand over to bid.