TC reports Justice Dep. will sell SR stash in next few weeks

[buzzlight]

Techcrunch reports without source that the Justice Department may sell the SR Ulbrich stash in the coming weeks.

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

Last two paragraphs:

In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks. Ulbright has given the U.S. government the private keys to the bitcoins.

“The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said. The wallets are publicly visible here and here.

Might get on with it now as so many are waiting for cheap coins...

[BayAreaCoins]

I was screaming this when I jumped into DOGE. Thank god no FBI wallet there and hopefully USD will have a way to flow in very soon.  This will fux shit up unless the large holders support the bid.  You have to remember these are cheap coins from the $10-$15 dollars day and free because the FBI just took them from him.. I saw where he filed asking for them back, but lol....  Interesting to see how this turns out...

[buzzlight]

I guess it will rattle the alts as well since most are converted into BTC before going to USD. But then again Doge is just for lolz inst it

Anyway, we will probably just see a quick nice dip and everyone will scream "cheap coins - lets buy" before we're off again to make $1M usd/btc

[Mk2vr6]

Still a newbie on the economics of all of this. I understand he had lots of BTC seized, but what are the FBI intending to do and how will it affect us?

[hartmann21]

Should be interesting