Bitcoin Forum

does anybody know how much btc the fed's got from busting AlphaBay and if they plan to dump it?

I think this would bring the price further down .... thats why i ask

All the bitcoins busted by FED were sold in auctions before and they might do the same this time too. They will not dump all those bitcoin in market for sure, they will sell those to highest bidder on auction. Nobody knows What those auction winners will do with those bitcoin, but I think they will keep those bitcoin for larger profit.

ok sounds logical

are there at least some rumors about the amount they got?

Based on news and data from US,Canada and Thailand Law secret agent total money in Bitcoin Approx 800k$
Read this statement :
"However, later, further investigation revealed a secret service agent to have stolen around $800,000 worth of bitcoins generated from operating Silk Bank.
"
Or you can go here to see more infos and what happened to them :
https://www.hackread.com/alphabay-marketplace-busted-admin-commits-suicide-in-prison/

ok thanks. thats not that much. i guess he bought lambos instead hoard btc .....

If these bitcoins are auctioned and won by someone then they will not dump it for sure. Just imagine with that much of BTC in your hand you could just wait until the market goes up. Of course whoever trying to win those btc are doing so for making profits and not just for dumping them in the market. They will be people with smart brains who have got plans with their btc to sell in the market when the time correct.

Right, now that I keep reading about bitcoins being auctioned off after raids and seizures, I would now like to ask if anyone has any idea how we might participate in the bid? I would assume they are being put up in lots, and are open to public, just as police auctions are in my country, anyway. Let's have a chance at cheap bitcoins!

it depends which country gets them and auctions them, not that there's any confirmation these bitcoins have been seized. they might all be locked up in the dead guy's head.

with the silk road coins there were consortiums you could join to bid but maybe you had to be an accredited investor.

It depends which country gets them and so far mostly in U.S,and may be Bitcoin from Alphabay likely will be auctioned by U.S Marshal like (silkroad).
Well i don't mean to be rude but we can not afford to buy bitcoin in auction,because we need million dollars or more to start bidding (which is most of them held by U.S Marshal,and Bitcoin prices not really cheap even if they auctioned it.)

Ps: even if they dump it,Bitcoin prices won't fall,just like before when mt.gox scam (it will drop,but not really significant[at worst,it will only become a trigger])

The 24 hour trading volume on BTC is usually over a billion dollars these days.

It's unlikely that the coins would be dumped directly on exchanges anyway, but even if they are it won't affect the market too much.  BTC's dark web usage is kind of overestimated, and Alpha Bay don't hold the coins for too long anyway.

Never thought there are FED busting big entities like this. And they auction the busted BTC ? Where and how do they do it. Is it even in the jurisdiction to do so. As long as I know busted drugs are sealed off by the government facilities or destroyed. I hope they won't do anything like that to cause a problem in the market.

I mean they did seize over $12M from him, it was never said whether it was cash or Bitcoins. And the $800K figure.. well, that's the first time I hear of that specific amount of bitcoins being taken. $800K was thrown around a lot for the fact that AB had $600K-800K daily revenues. But even then DeSnake wasn't the main guy (Alpha02), so with seizures and stuff the bulk of bitcoin is missing. Which is millions upon millions of dollars from just the escrows.