[nkuttler]

For a rational investor it would make sense to bid above "market" price. There are many markets, and those markets have a limited volume of coin to sell. Buying 30k coins would have a big effect on the price of any single market.

Bitstamp, which says "world's leading bitcoin exchange" about itself can't sell you 30k coins right now. Oh, and bitcoin exchanges have a history of.. let's call it.. problems.

A rational investor who wants to buy a large volume of coins would certainly bid above "market" price for coins handled by a reputable seller.

[rebel]

You seem to have misread my post. I didn't say that no one would bid above market price, I stated that they would additionally buy up all the coins on the market below their buying price.

[nitid_name]

Wouldn't that risk driving up the market price of bitcoins, which leads to a higher competing bid on the bulk coins?

[rebel]

Well you wouldn't want to do it before the bids are in. However, there was a gap between when bids are placed and when the winner is announced, that would be a good time.

edit: Of course, any time after the bids were completed would be a good time. After the auction ends would be just as good for you.

[nkuttler]

Ah, you're right. But buying coin from different markets still has risks and takes time (which is money). Of course, it depends on your priorities.