Ninjastic
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Board Speculation
Re: New auction for 50000 btc from US marshalls!
by
jaredboice
on 19/02/2015, 20:06:52 UTC
Quote from: ajareselde on February 19, 2015, 07:41:02 PM
Quote from: xcrabber on February 19, 2015, 05:55:59 PM
Quote from: koelen3 on February 19, 2015, 04:42:23 PM
Quote from: Fabrizio89 on February 19, 2015, 08:34:53 AM
No they have another 44k or something for the next auction.

A total of BTC 144,000 was seized from Ross Ulbricht by the FBI.

In the first auction, some 30,000 coins were sold. 50,000 more were sold during the second auction. After the third auction, some 14,000 coins will remain with the FBI.
[Originally cleared to me by (credits to)bryant.coleman ]

If I remember correctly the first 30,000 coins auctioned belonged to the silk road server (the escrow hot wallet).  They also seized 144,000 that belonged to Ross, so after the next auction of 50,000 there will indeed still be 44,000 to be auctioned off.

Until new seize happens, it seams interesting that they auction the coins in portions over time, instead of just selling all at the same time. I know they will get more in portions, but its like they are trying to dump
the price by doing so periodicaly. And allways after some good news, they publish another auction (now its the dell internationaly bitcoin acceptance)

cheers

The Feds will run out of coins eventually and then they'll have to commandeer some more of them from victimless crimes.  But the stashes of them will generally get smaller and smaller as more and more of them get distributed among the people.  So they can't count on that strategy for much longer.

Plus, 44,000 Bitcoins even at $1,000 each will still only be $44 Million.  There's some whales out there who are watching the Bitcoin market who could probably find that change under the couch