[2015-02-18] CD: US Marshals to Auction 50,000 Bitcoins in March

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: readysalted89 on February 18, 2015, 01:07:45 PM

I was hoping they would auction all the bitcoins they have. That way we would all know these auctions are over and done with. As it stands they still hold a lot more bitcoins they will have to auction at a later date, which will create uncertainty in the market.

With almost 14 million bitcoins currently in circulation this number shouldnt affect trading value of bitcoin much. especialy since we're on rather low 230-240 price, also ~3600 bitcoins are mined daily, so
i would take this news much much more seriously if the auction happened after two more halvings, when bitcoin mining reward will be 6,25Btc/block.

Snipe85

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Activity: 756

Merit: 250

Infleum

Not much to talk about. More coins change hands every day if you count all exchanges in the world and nobody makes a fuss.

LiteCoinGuy

legendary

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In Satoshi I Trust

Quote from: bryant.coleman on February 19, 2015, 05:43:26 AM

Quote from: bitbouillion on February 18, 2015, 01:56:58 PM

Per coindesk 44,336 BTC are left after this auction. The last auction is on the horizon.

Confused about this. How many coins were originally seized from Ross Ullbricht? I thought it was BTC 144,000. So after this auction, only BTC14,000 will remain with the FBI.

The 29k separate batch was coins from the users of the site and the 144k were Ross's personal stash. The 29k were auctioned first, and the 144k is being split 50/50/44, we're now onto the 2nd batch of 50k, so 44k will be left to sell.

1Referee

legendary

Activity: 2170

Merit: 1427

It's a great opportunity for a large size trader to scoop up these coins for 1 price.

If you have to buy a large quantity via an exchange, you need to buy up the sell orders which result in the price to climb quite a bit. Which will obviously cost you more.

okthen

hero member

Activity: 490

Merit: 500

Maybe Draper will buy these too? Try to dollar-cost-average his brilliant buy last time Roll Eyes

Bralex

sr. member

Activity: 308

Merit: 250

Not really a biggie is it they had to sell there ill gotten gains at some point Roll Eyes

bryant.coleman

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Quote from: bitbouillion on February 18, 2015, 01:56:58 PM

Per coindesk 44,336 BTC are left after this auction. The last auction is on the horizon.

Confused about this. How many coins were originally seized from Ross Ullbricht? I thought it was BTC 144,000. So after this auction, only BTC14,000 will remain with the FBI.

unamis76

legendary

Activity: 1512

Merit: 1012

I hope they auction all those Bitcoins fast. Return the Bitcoins to the people. Not good seeing people's stuff stuck in central power's hands

bitbouillion

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Merit: 250

Per coindesk 44,336 BTC are left after this auction. The last auction is on the horizon.

readysalted89

sr. member

Activity: 327

Merit: 250

I was hoping they would auction all the bitcoins they have. That way we would all know these auctions are over and done with. As it stands they still hold a lot more bitcoins they will have to auction at a later date, which will create uncertainty in the market.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

US Marshals to Auction 50,000 Bitcoins in March

The US Marshals service has announced it will auction off 50,000 BTC, worth 11.85m at press time, to the public on 5th March.

http://www.coindesk.com/us-marshals-auction-50000-bitcoins-march/

Topic: [2015-02-18] CD: US Marshals to Auction 50,000 Bitcoins in March (Read 2243 times)