Quote from: Becky666 on February 08, 2020, 10:18:34 PM

The united State Government is about to release $39m bitcoin worth for auction to individual who win the bid. According to the news; these bitcoin were the ones seized from cryptocurrencies scammers around the industry and with those who were indicated of fraud. Here is my concern:

What you don't like, you don't need to eat.

Another concern; will this going to bring down the current bullish of Bitcoin if executed?

I would suggest that, they redistribute this Bitcoin to the community or to help the less privilege. This can also be use to support China against the fight of CoronaVirus.

The USMS will notify the winning bidder(s) via email with instructions for the next step to complete their transaction the same day as the auction, even after 5:00 PM EST. The winning bidder must send the purchase price funds (less the deposit amount) by a wire transfer originating from a bank located within the United States and provide a wire transmittal receipt to the USMS by 2:00 PM EST, on Wednesday, February 19, 2020.

Full article is here!

I doubt that this will greatly affect the market. These Bitcoins will go into circulation, I doubt that the new owner will want to sell them all at once. By the way, I wonder why the government decided to sell these coins, if they could be spent on supporting China in the fight against coronavirus? As for me, it is a too greedy business

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