Silk Road Auction, and the Impact on DRK Price ,27 June

Impact on DRK Price on 27th June


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doge_kz

New Member
Jun 10, 2014
4
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1
Almaty ,Kazakhstan
I am sure BTC will go down .. what do you think about DRK ? will it go down with BTC or will there by new adopters and price will temporarily shoot up ??
 

Lzeppelin

Member
Feb 27, 2014
283
57
88
I am sure BTC will go down .. what do you think about DRK ? will it go down with BTC or will there by new adopters and price will temporarily shoot up ??
As far as I know they are auctioning off all the BTC to one person, so unless that one person decides to convert some of his new BTC to DRK probably nothing will happen.
 
N

nj47

Guest
As far as I know they are auctioning off all the BTC to one person, so unless that one person decides to convert some of his new BTC to DRK probably nothing will happen.
They are auctioning it off in blocks. I believe blocks of 3000. That being said, no one buying it there will be planning on dumping it. I honestly expect a small price decline followed by a decent sized increase. The logic being there are a lot of people expecting major decrease, when that doesn't happen you're going to have people rushing back in, causing a panic buy situation, which forms a positive feedback loop.
 
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vertoe

Three of Nine
Mar 28, 2014
2,573
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Unimatrix Zero One
I dont think this will affect prices much. It's only 30k BTC split up to 10 bidders.
Not sure why this even should affect DRK prices.
 

tungfa

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Apr 9, 2014
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same here
i think BTC will drop in the beginning and before the auction bit, (as people might be scared) but the market will stay pretty stable
BTC and DRK ….>
 
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recan86

Member
Jun 8, 2014
75
23
48
same here
i think BTC will drop in the beginning and before the auction bit, (as people might be scared) but the market will stay pretty stable
BTC and DRK ….>
People only get scared when they don't know enough about something. The troll boxes will be spamming the crap out of any FUD and when the time is right and those who are informed will buy low (again) while the less informed panic sell and loose money (again). :eek:Rinse, :confused:lather and :Drepeat. Seriously it makes you wonder how some of them have managed to stay alive this long. :what:
 
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fernando

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According to bitcoinwisdom.com the volume of BTC trading in the last 24h has been around 47k, so these 30k are not important at all. I say prices won't move or, if they do, they will go up for the added publicity.
 

Red-Shinobi

Member
Apr 9, 2014
117
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According to bitcoinwisdom.com the volume of BTC trading in the last 24h has been around 47k, so these 30k are not important at all. I say prices won't move or, if they do, they will go up for the added publicity.
I say up also.
Auction fever is absolutely a real thing on top of the fact that buying that much coin in one go at one price has value above the regular market price. Plus the legitimacy and publicity for bitcoin coming directly from the government.
However it goies i think drk will do the same as bitcoin with a fews hours delay.
 

fernando

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I say up also.
Auction fever is absolutely a real thing on top of the fact that buying that much coin in one go at one price has value above the regular market price. Plus the legitimacy and publicity for bitcoin coming directly from the government.
However it goies i think drk will do the same as bitcoin with a fews hours delay.
Yeah, the fact that the US Goverment is trading in BTC, even if it is to get rid of it, is quite big. Now they can't talk about tough regulation if they are the biggest trader :)
 

ourlink

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Jun 9, 2014
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I think it's natural to see a price drop before the auction. The bidders in the auction all have to put up $200k before they are even allowed to bid.
These are big whales in the BTC arena so they most likely already control a large proportion of the market for BTC. By their own actions they can drive the market prices for BTC and hence bring the prices down prior to the auction to receive more favorable pricing for the auction.

We will see a short term increase in the price of BTC shortly after the auction so that theses bidders can ensure a nice profit from their spoils... Once this all shakes out BTC will once again stabilize and slowly gain back some of the past weeks losses.

Overall the prices of BTC have a direct impact to the prices of all digital currencies. DarkCoin will follow the BTC prices and will eventually get back into the mid teen prices within a month.

If you want to gain in this market then follow the whales.