US Marshals: One Auction Bidder Claimed All 30,000 Silk Road Bitcoins

jbreher

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Quote from: haploid23 on July 02, 2014, 04:16:43 AM

California has now legalized bitcoin, and I'm pretty sure other states will eventually follow.

I seem to be clarifying this over and over. The CA situation is unique. They had an old law on the books that made certain types of payments illegal. Bitcoin just happened to fit in this category. The new law merely exempted Bitcoin from this absurd law.

Other states (most? all?) have more reasonable laws, and therefore do not require this exemption.

In the united States of america, if something is not explicitly _illegal_, then it is _legal_.

IOW, it is perfectly legal on (most? all?) other states without them needing to pass such a law.

jbreher

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Quote from: Noruka on July 02, 2014, 07:42:15 AM

Quote from: jbreher on July 02, 2014, 12:41:31 AM

Ya know what is funny? That Coindesk article has links to source docs for some of its assertions, but it does not reference any statement by USMS themselves about the results.

Are they just making stuff up? If not, why not disclose the source? It's not like they are the paragon of investigative reporting.

They (US gov) gives the option for the buyer of any of their auctioned off seized or foreclosed properly to remain anonymous they desire. The fact the property which is BTC doesn't make a difference in that, unfortunately. The BTC community would like to have it disclosed, but the gov. could care less.

Well, looks genuine. Story from others is that Tim Draper won the lot. My skepticism was unfounded.

DannyElfman

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Quote from: _smudger_ on July 02, 2014, 07:19:05 AM

http://venturebeat.com/2014/07/02/someone-just-paid-19m-for-29656-5-bitcoins-seized-by-the-u-s-government/

"Although the exact amount paid by the bidder is unclear, Wired and others estimate that $19 million was paid — an estimate which aligns with the current bitcoin to USD exchange rate."

The articles that I have read say that the value of the coins is presently $19 million and the price paid is unclear.

Noruka

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Quote from: jbreher on July 02, 2014, 12:41:31 AM

Ya know what is funny? That Coindesk article has links to source docs for some of its assertions, but it does not reference any statement by USMS themselves about the results.

Are they just making stuff up? If not, why not disclose the source? It's not like they are the paragon of investigative reporting.

They (US gov) gives the option for the buyer of any of their auctioned off seized or foreclosed properly to remain anonymous they desire. The fact the property which is BTC doesn't make a difference in that, unfortunately. The BTC community would like to have it disclosed, but the gov. could care less.

_smudger_

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http://venturebeat.com/2014/07/02/someone-just-paid-19m-for-29656-5-bitcoins-seized-by-the-u-s-government/

"Although the exact amount paid by the bidder is unclear, Wired and others estimate that $19 million was paid — an estimate which aligns with the current bitcoin to USD exchange rate."

SweetBits.biz

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Quote from: haploid23 on July 02, 2014, 04:16:43 AM

Quote from: Justin00 on July 02, 2014, 02:05:48 AM

No doubt USA will ban bitcoins now they have made their $$.

Is this a trolling statement? Do you realize that USMS and FBI is part of the US government? This sets precedence that bitcoin is allowed to be sold, otherwise it would be very hypocritical of the government. In fact, California has now legalized bitcoin, and I'm pretty sure other states will eventually follow.

Colorado has legalized weed.....but it is still illegal federally. So that doesn't mean anything.

And you think the US Government is not hypocritical? lol

bitkoof

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Quote from: jbreher on July 02, 2014, 12:41:31 AM

Ya know what is funny? That Coindesk article has links to source docs for some of its assertions, but it does not reference any statement by USMS themselves about the results.

Are they just making stuff up? If not, why not disclose the source? It's not like they are the paragon of investigative reporting.

Was an email statement.

haploid23

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Quote from: Justin00 on July 02, 2014, 02:05:48 AM

No doubt USA will ban bitcoins now they have made their $$.

Is this a trolling statement? Do you realize that USMS and FBI is part of the US government? This sets precedence that bitcoin is allowed to be sold, otherwise it would be very hypocritical of the government. In fact, California has now legalized bitcoin, and I'm pretty sure other states will eventually follow.

AltcoinAuthority

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Quote from: Lethn on July 02, 2014, 02:06:35 AM

I bet you it was Max Keiser Tongue

Or the Winkledink's Cheesy

Or Satoshi himself!!

Or Santa Clause Wink

I'm sure we'll never know.

Lethn

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I bet you it was Max Keiser Tongue

Justin00

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sweeeeet jesus 200k deposit!!
Suppose its just a deposit... and I guess if you were going to bid you'd have some big dollars behind you.
The hole thing is pretty funny. No doubt USA will ban bitcoins now they have made their $$.

AltcoinAuthority

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Quote from: Justin00 on July 02, 2014, 02:00:47 AM

Where does the USA auction of all the other stuff they sieze ??
like boats, cars etc etc ?

I went to a police auction in Aus. It was shit. golf clubs and power tools Sad

This was an exclusive auction it seems.. Bidders were required to put down $200k as a deposit.

Doubt you'd see any golf clubs or power tools at this auction Cheesy

Justin00

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Where does the USA auction of all the other stuff they sieze ??
like boats, cars etc etc ?

I went to a police auction in Aus. It was shit. golf clubs and power tools Sad

AltcoinAuthority

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Who Won The Silk Road Bitcoin Auction??

YouTube Video

Speculation is starting to arise regarding the identity of the sole winner of the 30,000 bitcoin auction that was held by the US Marshals Service. The objective of this auction was to liquidate the bitcoins which were seized from the Silk Road back in October 2013. Who is this mysterious investor that outbid everyone else for $19 million worth of bitcoins?

The mere fact that one bidder, out of 42 others who put down a deposit of $200,000, won the entire auction has important ramifications on what’s to come. These bidders who have indicated a clear interest in buying bitcoin in large volumes will now be left to satisfy their demand on the open market. This could lead to a continuation of the uptrend that was started on Monday. However the question still remains: Who is this person that won all 30,000 bitcoins and what will they do with them next? According to the blockchain, the bitcoins have already been transferred and the deal is complete.

... Continue Reading:
http://altcoinauthority.com/2014/07/who-won-the-usms-silk-road-bitcoin-auction/

Swordsoffreedom

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As long as they didn't all agree that one group would make the highest bid then they diversify those coins among them it's all good
That said I really really want to know the price as well and am keeping track
This thread as well has all the news so far for those curious
http://coinfire.cf/2014/06/30/breaking-usms-auction-winners-notified/

jbreher

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Ya know what is funny? That Coindesk article has links to source docs for some of its assertions, but it does not reference any statement by USMS themselves about the results.

Are they just making stuff up? If not, why not disclose the source? It's not like they are the paragon of investigative reporting.

DannyElfman

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Quote from: hello_good_sir on July 01, 2014, 04:05:07 PM

If this bidder paid above market price then he has an incentive to tell us what the price is.

If he paid below market price then he has an incentive to keep the price secret.

Losing bidders all have an incentive to keep their bids secret until they can acquire some more bitcoins.

Why would the losing bidders want to keep their bids secret? All that it would mean is that the price they offered is less then the price paid by the winner. They have even more of a reason to not need to keep their bid secret if they bid below the market price at the time (see above quote)

Sindelar1938

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The auction appears to have been handled professionally with minimum disruption to the market
Let's wait and see if any info about the auction terms leak in coming days

Cicero2.0

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So this is good news I guess? There won't be a bunch of coins flipped for immediate profit by low bidders.

mkc

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This is pretty funny. Good one.

Quote from: DeathAndTaxes on July 01, 2014, 04:07:48 PM

I heard this lady like to buy up lots of assets ....

(No I am not being serious but boy would that be interesting).

Topic: US Marshals: One Auction Bidder Claimed All 30,000 Silk Road Bitcoins (Read 1982 times)