Nicholas-Carraway
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June 24, 2014, 09:55:26 PM

If I were going to place a bid on a blind auction to buy bitcoins, and the auction was going to be closed in a couple days, I would put a bid in at $541.00 or $551.00.  There seems to be good technical support at those areas and I would feel like there would be a good risk/reward ratio.  I'd feel like I'd be able to make some money on a trade (eventually) and/or it would be a good price for a long term hold as well.  If I didn't win I wouldn't be too disappointed.  If I did win, I'd feel pretty certain I'd be able to do well either trading out or holding.  Remember, I'd have to take out $200K out of money for the deposit that was otherwise working for me elsewhere, and the time-cost involved for the auction.  

Where would you place your blind bid today for any amount of bitcoin?

Nick

It depends if you actually wanted to win the auction. If I wanted to win Id put my bid somewhere between $600 and $630.

Thank you for your honest reply.  There are currently about 3100 coins on the Ask to $605 at Bitstamp.  Did this influence your decision?  I know there are other factors... Asks getting pulled, exchange risk, etc.  Honestly just exploring what the winning bid(s) might be.