Has the FBI emptied their cache? | Bitcointalksearch.org

malaimult

hero member

Activity: 658

Merit: 500

Quote from: michaeladair on December 10, 2014, 08:59:02 AM

Quote from: Flashman on December 10, 2014, 08:51:30 AM

Quote from: cuddaloreappu on December 10, 2014, 05:11:50 AM

I am sure bitcoin wont go to moon until they emptied their cache

That is a concern, though it's really only a psychologically high number than much to really worry about, witness the bearwhale incident where a deliberate 30,000 coin dump only depressed market 6% for half a day, whereupon it rebounded a few percent higher and hasn't been down to that level again since.

However, FUDers be FUDers, so if we could jusssst have that out of the way, it would be nice.

So, everybody be good boys and girls so the party van doesn't have to come get your hard drive, coz we're only working on SR1 coins so far, not seen the totals for the recent round of busts the other month.

You do realize once all this btc is eaten up, the overall value of bitcoin will be higher since more fiat has been spent on it. In a way, this might help the bitcoin economy cause a lot of people will see this as basically a fire sale and will jump on the chance to get a few btc.

I think this would only be true in the event that the fact the USMS is going to be auctioning more bitcoin in the future is was not publicly known. However it is publicly known and since markets are efficient they will predict both this future additional supply and the future additional supply potentially "hitting" the market once the auctions are over

panju1

legendary

Activity: 1246

Merit: 1000

Quote from: cuddaloreappu on December 10, 2014, 12:00:57 AM

has the FBI emptied all their seized btc or do they still have some more

This article from a week back gives an idea of how many bitcoins the FBI has.

http://rt.com/usa/211543-bitcoin-auction-silk-road/

The US Marshals Service is getting ready to auction 50,000 Bitcoins worth about $18.5 million, in the biggest auction of Bitcoin in its history, as it tries to sell the virtual currency following the closure of the illegal Silk Road marketplace in 2013.

Thursday’s sale comes after the US government auctioned almost 30,000 Bitcoins in June. After flogging the 50,000, the US Marshals Service will still have more than 94,000 Bitcoins worth about $35 million.

So the US Feds still have more than 94,000 bitcoins to sell. Given that many of the bidders went back empty handed in the latest auction, we needn't be afraid of the impact that these bitcoins will have on the price. They will be absorbed in a jiffy.

exoton

sr. member

Activity: 350

Merit: 250

Quote from: Flashman on December 10, 2014, 08:51:30 AM

Quote from: cuddaloreappu on December 10, 2014, 05:11:50 AM

I am sure bitcoin wont go to moon until they emptied their cache

That is a concern, though it's really only a psychologically high number than much to really worry about, witness the bearwhale incident where a deliberate 30,000 coin dump only depressed market 6% for half a day, whereupon it rebounded a few percent higher and hasn't been down to that level again since.

However, FUDers be FUDers, so if we could jusssst have that out of the way, it would be nice.

So, everybody be good boys and girls so the party van doesn't have to come get your hard drive, coz we're only working on SR1 coins so far, not seen the totals for the recent round of busts the other month.

I am personally somewhat skeptical about the bear whale incident. I think it was probably an attempt by someone to try to get the price to go lower so they could buy at higher prices (and were selling to themselves).

I do think that the fact that there will be future auctions by the USMS will likely weigh down on the price until they can dispose of all the bitcoin i their possession

michaeladair

sr. member

Activity: 448

Merit: 250

I'm a Web Developer: HTML, CSS, PHP, JS.

Quote from: Flashman on December 10, 2014, 08:51:30 AM

Quote from: cuddaloreappu on December 10, 2014, 05:11:50 AM

I am sure bitcoin wont go to moon until they emptied their cache

That is a concern, though it's really only a psychologically high number than much to really worry about, witness the bearwhale incident where a deliberate 30,000 coin dump only depressed market 6% for half a day, whereupon it rebounded a few percent higher and hasn't been down to that level again since.

However, FUDers be FUDers, so if we could jusssst have that out of the way, it would be nice.

So, everybody be good boys and girls so the party van doesn't have to come get your hard drive, coz we're only working on SR1 coins so far, not seen the totals for the recent round of busts the other month.

You do realize once all this btc is eaten up, the overall value of bitcoin will be higher since more fiat has been spent on it. In a way, this might help the bitcoin economy cause a lot of people will see this as basically a fire sale and will jump on the chance to get a few btc.

Flashman

hero member

Activity: 518

Merit: 500

Hodl!

Quote from: cuddaloreappu on December 10, 2014, 05:11:50 AM

I am sure bitcoin wont go to moon until they emptied their cache

That is a concern, though it's really only a psychologically high number than much to really worry about, witness the bearwhale incident where a deliberate 30,000 coin dump only depressed market 6% for half a day, whereupon it rebounded a few percent higher and hasn't been down to that level again since.

However, FUDers be FUDers, so if we could jusssst have that out of the way, it would be nice.

So, everybody be good boys and girls so the party van doesn't have to come get your hard drive, coz we're only working on SR1 coins so far, not seen the totals for the recent round of busts the other month.

cryptworld

hero member

Activity: 714

Merit: 503

Quote from: cuddaloreappu on December 10, 2014, 05:11:50 AM

Quote from: TrailingComet on December 10, 2014, 04:44:35 AM

They have 94,000 btc left after the 50k they just auctioned off
To be sold in the coming months

I am sure bitcoin wont go to moon until they emptied their cache

That's likely to happen
100k bitcoin is a high amount

cuddaloreappu

hero member

Activity: 756

Merit: 502

Quote from: TrailingComet on December 10, 2014, 04:44:35 AM

They have 94,000 btc left after the 50k they just auctioned off
To be sold in the coming months

I am sure bitcoin wont go to moon until they emptied their cache

TrailingComet

sr. member

Activity: 462

Merit: 250

They have 94,000 btc left after the 50k they just auctioned off
To be sold in the coming months

michaeladair

sr. member

Activity: 448

Merit: 250

I'm a Web Developer: HTML, CSS, PHP, JS.

Quote from: lihuajkl on December 10, 2014, 12:18:19 AM

I don't think FBI actually needs bitcoin and there are rarely ways to spend it. They only want to cash out all of it.

FBI: Pepper Party

lihuajkl

legendary

Activity: 1596

Merit: 1000

I don't think FBI actually needs bitcoin and there are rarely ways to spend it. They only want to cash out all of it.

michaeladair

sr. member

Activity: 448

Merit: 250

I'm a Web Developer: HTML, CSS, PHP, JS.

Quote from: malaimult on December 10, 2014, 12:08:38 AM

Quote from: cuddaloreappu on December 10, 2014, 12:00:57 AM

has the FBI emptied all their seized btc or do they still have some more

If you are asking if they have sold all their seized bitcoin, then no they have no. They recently sold ~50k bitcoin they seized from Ross Ulbright and have ~50k more of his bitcoin that will be sold at a later date

I wonder if they're paying IRS taxes on the selling of that bitcoin.

malaimult

hero member

Activity: 658

Merit: 500

Quote from: cuddaloreappu on December 10, 2014, 12:00:57 AM

has the FBI emptied all their seized btc or do they still have some more

If you are asking if they have sold all their seized bitcoin, then no they have no. They recently sold ~50k bitcoin they seized from Ross Ulbright and have ~50k more of his bitcoin that will be sold at a later date

michaeladair

sr. member

Activity: 448

Merit: 250

I'm a Web Developer: HTML, CSS, PHP, JS.

Quote from: cuddaloreappu on December 10, 2014, 12:00:57 AM

has the FBI emptied all their seized btc or do they still have some more

Hey FBI, empty your BTC right on into my wallet...

+I don't think they will disclose what they do with their btc,
If they were smart I bet they would hold onto it.

cuddaloreappu

hero member

Activity: 756

Merit: 502

has the FBI emptied all their seized btc or do they still have some more

Topic: Has the FBI emptied their cache? (Read 1233 times)