FBI coins on the move! - page 2. | Bitcointalksearch.org

DannyHamilton

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Quote from: freedomno1 on June 13, 2014, 12:03:41 AM

Quote from: DannyHamilton on June 12, 2014, 07:07:50 PM

Quote from: freedomno1 on June 12, 2014, 07:04:33 PM

The FBI is moving the coins and selling them in 3000 BTC Blocks
So if you have 200,000 and a wire transfer lying around feel free to buy some XD
http://gigaom.com/2014/06/12/us-will-auction-bitcoins-seized-from-silk-road-bidders-must-deposit-200000/

200,000 is only the deposit that allows you to participate in the auction.

After that you'll need to wire the rest of your winning bid within 23 hours of the end of the auction or you forfeit your entire deposit.

Na they said it was a refundable deposit
Then again it is the FBI so you would need to assume that they would honor that although If you win the bid it might be different.

Did you even read the U.S. Marshals Service announcement?
http://www.usmarshals.gov/assets/2014/bitcoins/

Quote

On Monday, June 30, 2014, by 5:00 PM EDT, the USMS will notify the winning bidder/bidders that their bid/bids has/have been selected. Any winning bidder must send the purchase price funds (less the $200,000 deposit amount) by a wire transfer originating from a bank located within the United States and provide a wire transmittal receipt to the USMS by 5:00 PM EDT, Tuesday, July 01, 2014.

Receipt of Funds. The winning bidder should be prepared to wire purchase funds to the USMS by 5:00 PM EDT on Tuesday, July 01, 2014. If the winning bidder does not provide the USMS with a copy of the wire transmittal receipt by this date, the bidder will be disqualified and another winning bidder will be selected. FAILURE TO INITIATE A WIRE TRANSFER AND PROVIDE THE USMS WITH A COPY OF THE WIRE TRANSMITTAL RECEIPT BY TUESDAY, JULY 01, 2014, AT 5:00 PM EDT WILL RESULT IN FORFEITURE OF THE BIDDER’S DEPOSIT.

TimS

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Quote from: freedomno1 on June 13, 2014, 12:03:41 AM

Na they said it was a refundable deposit
Then again it is the FBI so you would need to assume that they would honor that although If you win the bid it might be different.

It's refunded if you lose the bid, or if you win the bid and pay on time it's subtracted from your bid price. It is not refunded if you win the bid, but fail to pay on time. This is pretty clear from their site.

Gianluca95

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Reputation first.

I hope that the company of San Francisco which will buy FBI coin (30k) will use it great and not for manipulate the market.

Over this, FBI has moved its coin for a question of safe.

Naruto.me

member

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I just want to know will they announce how many bidder before the auction??

SeniorMember

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-Latest News-
The FBI just sold the remainder of the coins to Wall street. The end is near!

ljudotina

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Quote from: Phinnaeus Gage on June 12, 2014, 11:55:26 PM

"Hey, Joe, watch this. I'm going to move $84M just to fuck with the Bitcoin community."

"You're a sick bastard, Rick, but that's why we love you."

I'm pretty much sure they are still laughing.

Or even better:
"Hey, Joe, do you need cheeper BTC?"
"Yeah, too bad we cant drop it down for 100 or so $ without investing anything"
"Just watch me" - *creates new adress and sends all BTC there*
"Wow, thanks Rick, i got in 100$ below price! Now i can sell and earn some money. Can we do it tomorrow again?"

ajareselde

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Activity: 1722

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Satoshi is rolling in his grave. #bitcoin

As far as trading goes, i believe there will be a surge on litecoin, in btc/ltc trade pair.
I highly doubt the fbi will think twice about what they are doing, i think they will just dump it and be gone.

smashingpumpkin

newbie

Activity: 53

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In Murica even FBI deals with Bitcoin, wow.

I was just thinking if it ever becomes possible in my country. Most likely NO.

freedomno1

legendary

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Learning the troll avoidance button :)

Quote from: DannyHamilton on June 12, 2014, 07:07:50 PM

Quote from: freedomno1 on June 12, 2014, 07:04:33 PM

The FBI is moving the coins and selling them in 3000 BTC Blocks
So if you have 200,000 and a wire transfer lying around feel free to buy some XD
http://gigaom.com/2014/06/12/us-will-auction-bitcoins-seized-from-silk-road-bidders-must-deposit-200000/

200,000 is only the deposit that allows you to participate in the auction.

After that you'll need to wire the rest of your winning bid within 23 hours of the end of the auction or you forfeit your entire deposit.

Na they said it was a refundable deposit
Then again it is the FBI so you would need to assume that they would honor that although If you win the bid it might be different.

Phinnaeus Gage

legendary

Activity: 1918

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Bitcoin: An Idea Worth Spending

"Hey, Joe, watch this. I'm going to move $84M just to fuck with the Bitcoin community."

"You're a sick bastard, Rick, but that's why we love you."

freedombit

sr. member

Activity: 274

Merit: 250

Quote from: lnternet on June 12, 2014, 07:31:02 PM

Quote from: ?? on ??

http://www.usmarshals.gov/assets/2014/bitcoins/

Wow cool.

This is a very important question:

Did PlutoPete (Pete Ward) get his 100 Bitcoin back from the FBI?

freedombit

sr. member

Activity: 274

Merit: 250

Quote from: DannyHamilton on June 12, 2014, 05:12:52 PM

Quote from: beetcoin on June 12, 2014, 04:42:03 PM

Quote from: solid12345 on June 12, 2014, 04:34:03 PM

Before everyone freaks out (because we know whales will use any news as an excuse to dump and accumulate)

http://www.forbes.com/sites/kashmirhill/2014/06/12/silk-road-bitcoin-on-the-move-as-government-prepares-to-auction-off-18-million-worth/

It’s an E-bay style auction for digital coin, taking place over a 12-hour period in two weeks, on June 27 from 6 a.m. until 6 p.m. Eastern. “Bids will be accepted by email from registered bidders using a form available from the U.S. Marshals Web page,” says the release. “In order to make a bid in this auction, potential bidders must register between the period of June 16 at 9 a.m. through June 23 at noon EDT and make a refundable deposit of $200,000 via wire transfer from a bank account in the United States.”

The new addresses for the Bitcoin are here (29,658 Bitcoin from the Silk Road) and here (144,341 Bitcoin from Ross Ulbricht). Ulbricht, who has plead not guilty, claimed his Bitcoin aren’t subject to civil forfeiture rules.

First of all, just to bid you need to put down a $200k deposit. So for anyone worried the FBI is going to dump cheap Bitcoins on us peasant masses and crash the price, keep dreaming. Second this article confirms they are being moved for consolidation as they will be sold off in blocks of 3,000 BTC at a time.

why would they even dump cheap coins anyways? the higher they sell, the more money they get for their operations.

btw, they will be sold in 3,000 coin blocks.. 9ish total. who can really afford 3,000 coins? i'd guess wall street has that kind of capital. at $600/btc, that's 1.8 million per block.

I wonder if I could get a group buy together for this.

I guess it would have to work something like this:

3,000 people all contribute 1 BTC to the group buy. The bitcoins from the group buy are used as collateral for a loan (from someone here with a lot of capital?). The loan is used to bid on a 3,000 BTC block of coins from the government at significantly below market value at the time of the bidding.

If we are out-bid on all attempts, then the loan is paid back (with some bitcoins as interest) and everyone gets most of their bitcoins back (minus their share of the loan interest).

If we win a bid, the bitcoins are sold over time (at bitstamp?) until enough cash is raised to pay off the loan and interest. Everyone gets their bitcoin contribution back along with a matching share of the leftover bitcoin profits.

The most difficult part will be finding someone with enough capital to make the loan.

Nice idea, except you're asking the lender to essentially take all the risk and none of the payback.

Of course, you might get get 3000 people to each dig deep into their credit cards to come up with the cash to do exactly what you are thinking. Shocked

beetcoin

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Activity: 434

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Quote from: BetMoose on June 12, 2014, 09:03:22 PM

Whoever buys them better be ready to file all their property gain taxes at the end of the year Wink

Think they'll sell at/above/below market? Kinda makes sense to sell above market, really hard to get your hands on so many at one time.

if you buy and hold, you won't have to file any capital gains taxes.

BetMoose

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Real Bets. Real People. By Anyone, on anything

Whoever buys them better be ready to file all their property gain taxes at the end of the year Wink

Think they'll sell at/above/below market? Kinda makes sense to sell above market, really hard to get your hands on so many at one time.

TimS

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Merit: 253

Quote from: cryptojoe on June 12, 2014, 06:54:24 PM

Hey does anybody know how 144,000 btc just appeared in my electrum wallet?

Incredible luck (in the literal sense: not credible). Cheesy

DiamondHacking

newbie

Activity: 1

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Quote from: revilo on June 12, 2014, 02:03:06 PM

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

100,000 BTC sent somewhere Shocked

Payment for an assassination?

lnternet

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Activity: 299

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Quote from: ?? on ??

http://www.usmarshals.gov/assets/2014/bitcoins/

Wow cool.

DannyHamilton

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Activity: 3472

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Quote from: freedomno1 on June 12, 2014, 07:04:33 PM

The FBI is moving the coins and selling them in 3000 BTC Blocks
So if you have 200,000 and a wire transfer lying around feel free to buy some XD
http://gigaom.com/2014/06/12/us-will-auction-bitcoins-seized-from-silk-road-bidders-must-deposit-200000/

200,000 is only the deposit that allows you to participate in the auction.

After that you'll need to wire the rest of your winning bid within 23 hours of the end of the auction or you forfeit your entire deposit.

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

The FBI is moving the coins and selling them in 3000 BTC Blocks
So if you have 200,000 and a wire transfer lying around feel free to buy some XD
http://gigaom.com/2014/06/12/us-will-auction-bitcoins-seized-from-silk-road-bidders-must-deposit-200000/

cryptojoe

sr. member

Activity: 353

Merit: 250

Hey does anybody know how 144,000 btc just appeared in my electrum wallet?

Topic: FBI coins on the move! - page 2. (Read 6939 times)