Topic: US Government DUMPING Bitcoin - page 2. (Read 285 times)

When you read articles from a shitty source, then your conclusions are just as shitty (excuse the expression). As @stompix already wrote, it is not about selling 50K BTC, but only a part of what has seized two years ago. And the fact that they (the US government) sell BTC means that they informally recognize it as something that has value, and you could only worry if they destroyed all the seized BTC and thus showed the middle finger to everyone else.

What you see as a problem is actually a good thing, because the US government promotes Bitcoin by doing so and also puts it back into circulation - and in return it gets what it loves most, its dollars.

Are these the actual Silk Road coins from DRP or are they from that Silk Road Hacker who has an account on here by the name of "Loaded". He basically did some exploit back in the day where he sent like 1000 Bitcoins to his deposit address at Silk Road and then immediately did 5 withdraws of 1000 Bitcoins at once and basically sent 1000 BTC and got 5000 Back, so made a profit off 4000 BTC.

I am pretty sure its these coins which they are selling. The caught the guy recently, about a year or two I believe. There is an article somewhere on twitter about how it happened. Those original DPR coins I think were auctioned off and Tim Draper bought them OTC, years ago.

Law is law but the US govt make this sounds like they dont care about the bitcoin, but when you think about it. The one they seize, whose the one uses the money right? They even criticize people with their crypto asset knowing they are just needing something to comfiscate and used on their own agenda. Even they dumped their coins which through an auction, market wouldnt be affectef much considering that this isnt a spot sell market on exchanges. See how hypocrite the govt for hating bitcoin that much hence they are benefiting from it.

Two years, those are the coins seized back in 2021
https://www.justice.gov/usao-sdny/pr/us-attorney-announces-historic-336-billion-cryptocurrency-seizure-and-conviction
And quite funny, they are selling at a loss, bitcoin was at around $60k by that time.


Because that's how the law works, seized property goes to auctions, and it has happened before it will happen again, the USMS has had hundred of those auctions, you can just search the news how many times those have happened.
So, drop the tinfoil hat, nothing new and nothing to see.

Besides, it's an auction why would the price on the spot market be affected unless somebody plans on immediately dropping those coins, and why would they do that only to lose money in a split second?

They hodled for 10 years. It's longer than most of the "bitcoiners" hold. Don't you think that taking down 25% of a position after doing 200x is a wise take profit strategy?


What problems would that cause? Would the bitcoin blockchain crash? No! Bitcoin would continue to work properly. We would only see a flash crash that would be eaten by marketmakers and those waiting for a dip to buy (bitcoin broke the 200 WMA and many investors just wait for a dip).

The only thing they would achieve by selling like this is to sell $1.4 billion worth of bitcoins for $1 billion.

I read it comes out to something like $4,000,000 worth of Bitcoin being sold by the United States government per day. Pretty crazy number. This reminds me a lot of when Tim Draper bought a ton of BTC in a similar auction around 10 years ago. I think that taught me that big auctions like this usually open the door for new buyers so it might end up being a positive long term. 

I want to talk about the US government selling 51,000 Bitcoins, why are they doing this. Is Bitcoin going to be trashed let's talk about all this stuff and more this came out yesterday and a lot of people were talking about it what happened to these 51,000 Bitcoins.

Everything is connected to the Silk Road so when the silk road closed According to reports the government has sold roughly 10,000 Bitcoins for 250 million and this was on March 14th 2023. So it looks like we had a little Spike and then dropped back down so we're up to 26,000 back to 24- 2 and then boom the market reacted by going up so did the sale of 10,000 Bitcoin really affect Bitcoin the answer is no.

Heard that the government doesn't sell everything at the same time now, if they decide to sell 51,000 at once maybe Bitcoin will be affected more but they plan to sell gradually. so later in the year they'll probably finish another ten thousand another ten thousand another ten thousand something like that so right now they have 41,000 Bitcoins left.

so it's a bit surprising that they did this i thought maybe they wanted to throw it all away to cause more problems around Bitcoin but they decided that they would spread it out roughly so they have 51,000 Bitcoins to start with now. they have 41,000 Bitcoins left so that's the reason why they're selling this basically they've been saving this for a while and they felt this was the right time to sell it. should we be afraid that this incident will affect the price of bitcoin?

Source:
https://cointelegraph.com/news/us-government-plans-to-sell-41k-bitcoin-connected-to-silk-road