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Topic: [2014-01-16] The Feds Are Ready To Sell $25 Million of Bitcoin Seized From S.R. (Read 890 times)

legendary
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
Wants in Smiley
Though I guess those coins have Cooties all over them  Grin
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!

...Someone with deep pockets could get a really good deal.

*The FBI is not liable if the private keys fail to work or the wallet is corrupted.................  lol?
legendary
Activity: 1190
Merit: 1001
I would think it would go on auction as a single lot, in the same way as a car, a boat or a house that has been seized/auctioned.

Someone with deep pockets could get a really good deal.
TDB
newbie
Activity: 16
Merit: 0
They don't have online auctions do they? I doubt they do, but it seems ridiculous to have a non online auction for bitcoins, maybe I'm wrong.
member
Activity: 81
Merit: 10

I would think they are obliged to sell all seized assets by government auction.  At least, that's how it works in Canada.  Isn't it the same in the US?

By government auction do you mean to the general public via setting up an online exchange sort of? Or selling it to banks or investment firms on wallstreet?

it will be the same as selling Madoff's shoes and furniture or stolen cars
there will be auction and everybody can participate. however they can decide to sell it by thousands or something and I think not many people like me or you are eager to buy thousand btc for this price.
TDB
newbie
Activity: 16
Merit: 0

I would think they are obliged to sell all seized assets by government auction.  At least, that's how it works in Canada.  Isn't it the same in the US?

By government auction do you mean to the general public via setting up an online exchange sort of? Or selling it to banks or investment firms on wallstreet?
hero member
Activity: 770
Merit: 500
 Kashmir is actually a very good journalist.
sr. member
Activity: 418
Merit: 252
Proud Canuck

I would think they are obliged to sell all seized assets by government auction.  At least, that's how it works in Canada.  Isn't it the same in the US?
newbie
Activity: 17
Merit: 0
http://www.forbes.com/sites/kashmirhill/2014/01/16/the-feds-are-ready-to-sell-the-silk-road-bitcoin-kind-of/

Think they will be careful and sell to private bidders to keep the market stable, or somehow dump on the market with carelessness?

On the other hand, Kashmir may be a bit biased and against Bitcoin considering other articles I've read from her...Just my 2 cents.
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