£9m Bitcoin Haul | Bitcointalksearch.org

mymenace

legendary

Activity: 1596

Merit: 1061

Smile

Quote from: Kakmakr on June 01, 2016, 06:31:37 AM

Quote from: Evildrum on May 31, 2016, 09:41:15 PM

Why would anyone want bitcoins from down under? Cheesy

Because Bitcoins are no different, if it is from down under, directly from China or made in Hong Kong. Bitcoin is border less, and nobody can discriminate against sheep shagger coins or Camel riders. The fiat currencies cannot say this, because nobody wants Zimbabwean dollars. ^smile^

A Bitcoin is a Bitcoin, is a Bitcoin.

unless it is an Australian Bitcoin

oi mate

An Australian bitcoin, unlike other bitcoins
1) Will never cheat on you
2) Rare to find
3) Venomous
4) Drinks beer
5) Invented itself
6) You need another Australian to find one
7) Eats lamb

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Is there really any point in speculating on this type of thing any more? All of the SR coins pretty much did fuck all to the wider world. These won't be any different.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Quote from: Evildrum on May 31, 2016, 09:41:15 PM

Why would anyone want bitcoins from down under? Cheesy

Because Bitcoins are no different, if it is from down under, directly from China or made in Hong Kong. Bitcoin is border less, and nobody can discriminate against sheep shagger coins or Camel riders. The fiat currencies cannot say this, because nobody wants Zimbabwean dollars. ^smile^

A Bitcoin is a Bitcoin, is a Bitcoin.

sbtctalk

sr. member

Activity: 266

Merit: 250

These auctions probably be available only to private fund companies who could afford these sums. 8 million!

Evildrum

member

Activity: 84

Merit: 10

★YoBit.Net★ 350+ Coins Exchange & Dice

Why would anyone want bitcoins from down under? Cheesy

25K does seem like a lot,be interesting to know exactly when the auction is to watch if it effects the price at all directly after or in the 72 hours afterwards. This most likely will not be the last time a Government drops a load of bitcoins on the market through proceeds of crime seizures.

mki8

member

Activity: 98

Merit: 10

only thought that comes to mind

is why werent these bitcoins protected ?

do the owners give them up to the authorities ?

why do they not have secure storage methods, surely the people that obtain this amount of coins which ever way they do, must have enough brains to know how to store so nobody can get to them

all i wonder is how the authorities confiscate them ?

Hugroll

hero member

Activity: 756

Merit: 500

i dont see anything wrong with it. the person was doing illegal stuff so his wealth got confiscated. its not like bitcoin is a swiss bank or anything. personally i wouldnt want them to go back into circulation because that would drive the price down.

calkob

hero member

Activity: 1106

Merit: 521

I so wish i had some money to bid for these bitcoins but i am skint at the minute..... Grin

Kprawn

legendary

Activity: 1904

Merit: 1074

Well, If this is done... other governments can actually see that they can profit off Bitcoins, if they catch the people responsible for using the technology for criminal activities. They can then hopefully

use that profit to combat more serious crimes. We want Bitcoin to be used for mostly legitimate activities... so we should attempt to root out the criminals and give them over to the authorities. It's

your duty as a citizen to prevent crime and also to report it. Leave the fighting crime bit for the proper authorities. Roll Eyes

naidray

legendary

Activity: 1232

Merit: 1029

Quote from: sbtctalk on May 31, 2016, 09:14:55 AM

Quote from: 7788bitcoin on May 31, 2016, 07:37:09 AM

Quote from: sbtctalk on May 31, 2016, 06:50:55 AM

How will 25,000 bitcoins affect market prices if they are released into the market?

Most like not going to affect the market at all. Just like previous US auctions, the buy prices were never known. The one who didn't get the coins might tell you how much they bid and you can then guess how high the actual price was.

That's good to know. Hopefully the price maintains above 550

Apparently, the price wouldn't be affected by these coins coming into circulation as it will not affect the difficulty nor the market cap because it already is counted in.
What's going to be affected though is that someone rich is going to be really richer by the halving thanks to these coins.

Snorek

legendary

Activity: 1400

Merit: 1001

I wonder if that 25k of bitcoin will be enough to cause a market decline if future owner will decide to dump it all after the auction.
I've seen something similar when FBI announced they will be selling BTC from Silk Road bust.

http://www.coindesk.com/us-government-to-sell-44000-btc-in-final-silk-road-auction/

~Bitcoin~

legendary

Activity: 994

Merit: 1000

I don't think they gonna sell those all bitcoin better australian government may do auction like america has done for silkroad bitcoin.

chennan

legendary

Activity: 1316

Merit: 1004

Even if I had the money to make a decent bid at this chunk of BTC, I wouldn't and here's why...

What is the main purpose of Bitcoin? To remain pseudononymous and can transact anywhere in the world without the scrutiny of government or be interfered. Now, if you get 25,000 BTC, that's obviously trackable on the blockchain and anyone can see where you are sending those coins... This automatically tracks you to every single payment that you and other people make from here on forward, because you are publicly bidding on them.

markj113

legendary

Activity: 2254

Merit: 1043

Just goes to show that bitcoin can be just as easily confiscated as gold or anything else of value.

sbtctalk

sr. member

Activity: 266

Merit: 250

Quote from: 7788bitcoin on May 31, 2016, 07:37:09 AM

Quote from: sbtctalk on May 31, 2016, 06:50:55 AM

How will 25,000 bitcoins affect market prices if they are released into the market?

Most like not going to affect the market at all. Just like previous US auctions, the buy prices were never known. The one who didn't get the coins might tell you how much they bid and you can then guess how high the actual price was.

That's good to know. Hopefully the price maintains above 550

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: sbtctalk on May 31, 2016, 06:50:55 AM

How will 25,000 bitcoins affect market prices if they are released into the market?

Most like not going to affect the market at all. Just like previous US auctions, the buy prices were never known. The one who didn't get the coins might tell you how much they bid and you can then guess how high the actual price was.

sbtctalk

sr. member

Activity: 266

Merit: 250

How will 25,000 bitcoins affect market prices if they are released into the market?

icet208

hero member

Activity: 762

Merit: 500

Clearly is ok to bid on those coins. You will have a legal proof from where you have those coins, so if you have the $$ goodluck on bidding Cheesy

tiffyroman

full member

Activity: 210

Merit: 100

Quote from: kwukduck on May 31, 2016, 04:30:48 AM

Of course it's 'okay' they either destroy confiscated property or sell it, if it's money it will be used as funding directly.

I see. I never really knew that and always wondered whenever such a news occur until now.

kwukduck

legendary

Activity: 1937

Merit: 1001

Of course it's 'okay' they either destroy confiscated property or sell it, if it's money it will be used as funding directly.

Topic: £9m Bitcoin Haul (Read 1139 times)