Re: US is auctioning $1.6 million

http://satoshibonus.blogspot.com/2016/08/us-is-goin-to-auction-bitcoin.html

These are the bitcoins that are recovered from different cases / claims / investigations
On the other hand Government is not sure about Bitcoin as currency how will they handle the amount ?

Is anyone here going to participate in that auction? Grin

Is the auction open for non-US residents?If yes,i want to participate and bid.

Maybe this will have some impact over btc price?

I'm about 90% sure they're auctioning it off in large amounts that are out of all of our reach, and only the largest investors are going to get in on this and actually be able to bid. And I'm also fairly sure that it is restricted to US residents, or people that they've invited to take a spot in the auction. I don't think they'd auction of to some foreign entity.

Yea, that is what they did with the previous auctions.. they broke it up into smaller chunks and sold them in bundles. This way more investors will get in on the actions and they can get better prices

for the coins. If they auctioned off all coins in one batch, only a few people will be able to participate and no bid wars can push up the price. I am just glad these coins are going to come back in to

circulation. Let's just hope the buyers hoard these coins for a while. Roll Eyes