[2015-11-05] Bidder Turnout Ties All-Time Low in Final Silk Road Bitcoin Auction

[OmegaStarScream]

The fourth and final US Marshals (USMS) auction of bitcoins confiscated during the investigation into online black market Silk Road drew only 11 bidders today, the lowest total since the second auction held in December 2014.

The government agency indicated that 11 registered bidders submitted a total of 30 bids on 22 blocks of bitcoins during today's auction. Twenty-one of the blocks were for 2,000 BTC (valued at $790,000 at press time), while the final block included 2,341 BTC (roughly $926,200).

See the full thing here : http://www.coindesk.com/bidder-turnout-low-silk-road-bitcoin-auction/

[freedomno1]

Cumberland Mining seems interesting sort of like a puzzle.
(Perhaps a Bitcoin bank or purchasing power group)
Either way I look forward to seeing how those Bitcoins will be used, the timing is interesting .

[RustyNomad]

Wonder why the turnout was so low, could it have been due to the price rise in bitcoin?

Could not have been due to a lack of interest as I think plenty of people would have been interested in obtaining bitcoin at a discounted price like those offered on an auction.

Just rechecked the figures and they do not seem that bad, about in-line with the previous auction.

[Betwrong]

The fourth and final US Marshals (USMS) auction of bitcoins confiscated during the investigation into online black market Silk Road drew only 11 bidders today, the lowest total since the second auction held in December 2014.

The government agency indicated that 11 registered bidders submitted a total of 30 bids on 22 blocks of bitcoins during today's auction. Twenty-one of the blocks were for 2,000 BTC (valued at $790,000 at press time), while the final block included 2,341 BTC (roughly $926,200).

See the full thing here : http://www.coindesk.com/bidder-turnout-low-silk-road-bitcoin-auction/

I'm a bit confused. So, did they sell it or what?

"The earliest a bidder could announce that they successfully purchased bitcoins at the auction, according to the USMS, would be Monday, once such transfers are finalized."

Since it's a pretty large amount, the selling should affect the price of Bitcoin, right? So when exactly will it happen?