Can we all write to FBI asking not to sell bitcoins but hodl them?

[sacko]

http://www.usmarshals.gov/assets/2014/bitcoins/

Required Registration Items:

• A manually signed pdf copy of the Bidder Registration Form
• A copy of a Government-issued photo ID for the Bidder (or Control Person(s) of Bidder)
• $200,000 USD deposit sent by wire transfer originating from a bank located within the United States (please provide receipt of transfer)

FAILURE TO INITIATE A WIRE TRANSFER AND PROVIDE THE USMS WITH A COPY OF THE WIRE TRANSMITTAL RECEIPT BY TUESDAY, JULY 01, 2014, AT 5:00 PM EDT WILL RESULT IN FORFEITURE OF THE BIDDER’S DEPOSIT.

[Beymond]

yeah they too can hodl them and benefit if bitcoin goes to moon!..
no point in selling now...they too can add wealth to FBI..

maybe buy some FBI gadgets using bitcoins.

I don think so the gorverment need money so they will surely sell the coin .

Just hope they don sell it too cheap .

[Malin Keshar]

I'm in no way confortable with the US gov officially holding so many bitcoins. We all know they have more than that off the record, but this is ammunition to fear mongers scare noobs by making they think the FBI one day will just dump everything on Bitstamp. I would write a petition asking to FBI sell the coins  as soon as possible,  without causing another chinese bans effect on BTC price.


But I agree the terms of the auction are suspicious, to be generous.

http://www.usmarshals.gov/assets/2014/bitcoins/

Required Registration Items:

• A manually signed pdf copy of the Bidder Registration Form
• A copy of a Government-issued photo ID for the Bidder (or Control Person(s) of Bidder)
• $200,000 USD deposit sent by wire transfer originating from a bank located within the United States (please provide receipt of transfer)

FAILURE TO INITIATE A WIRE TRANSFER AND PROVIDE THE USMS WITH A COPY OF THE WIRE TRANSMITTAL RECEIPT BY TUESDAY, JULY 01, 2014, AT 5:00 PM EDT WILL RESULT IN FORFEITURE OF THE BIDDER’S DEPOSIT.

   

[bryant.coleman]

If it is a private auction then the chances are very low that the coins will start flooding the exchanges. 29,000 coins at today's rate is equivalent to some $17.5 million USD. Most probably, some of the big names will be able to buy them, and then hold the coins for long-term investment. And I don't discount the possibilities of the auction price going higher than the market exchange rates.

[CaptainBeck]

If it is a private auction then the chances are very low that the coins will start flooding the exchanges. 29,000 coins at today's rate is equivalent to some $17.5 million USD. Most probably, some of the big names will be able to buy them, and then hold the coins for long-term investment. And I don't discount the possibilities of the auction price going higher than the market exchange rates.

Someone who spent $17m on BTC will be a fool to dump them straight away I hope. Even in blocks of 3,000 its still alot to stump up for and dump especially as it seems this news is causing a shortening of BTC.

[scribbles]

yeah they too can hodl them and benefit if bitcoin goes to moon!..
no point in selling now...they too can add wealth to FBI..

maybe buy some FBI gadgets using bitcoins.

The FBI is not a private business looking to hold assets. They seize assets on a regular basis through criminal cases (houses, money, cars, etc) and do not hold them speculating on long term gains. That's how it works there, this particular seized asset (bitcoins) isn't going to change that.

Anyway, I'd rather they sell to private parties and let THEM benefit from future increase in value.

As far as 'to the moon'. Now THAT'S a good idea! I think the moon would be the perfect place for the FBI to relocate 

[LiteCoinGuy]

HODLLLLLLLL!!

[Ibistru]

yeah they too can hodl them and benefit if bitcoin goes to moon!..
no point in selling now...they too can add wealth to FBI..

maybe buy some FBI gadgets using bitcoins.

No, bitcoins must flow.

[Gianluca95]

If you talk with the FBI they will laugh in your face

[bryant.coleman]

If you talk with the FBI they will laugh in your face

Nope. They will first confiscate your system and other stuff, and then they will launch an inquiry in to your alleged dealings in the TOR black markets such as Silk Road and Agora Marketplace.

[haploid23]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

[nwfella]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

lmao..."trickle down" being used in reference to bitcoin economics.  It's the beginning of the end of libertarian dream!!  

*seriously though, I gotta agree with the fella that says it doesn't matter if the coins are sold on an exchange or privately, the same exact price manipulation BS can take place with private holders literally minutes after they receive their coins from the fed.

[beetcoin]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

it'll still be a net positive if the auction draws massive whales that would otherwise not have dipped their feet., something like an impetus for wallstreet to join the game. but no one knows whether that will happen or not.

[LostDutchman]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

it'll still be a net positive if the auction draws massive whales that would otherwise not have dipped their feet., something like an impetus for wallstreet to join the game. but no one knows whether that will happen or not.

Who else do you think will buy them?

Dank?

[haploid23]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

it'll still be a net positive if the auction draws massive whales that would otherwise not have dipped their feet., something like an impetus for wallstreet to join the game. but no one knows whether that will happen or not.

Perhaps large whales or wall street will join, but they will not be buying from the current pool of available bitcoins, which has no positive effect on driving prices up. They buy directly from FBI, which has a potential of crashing the price afterwards.

[beetcoin]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

it'll still be a net positive if the auction draws massive whales that would otherwise not have dipped their feet., something like an impetus for wallstreet to join the game. but no one knows whether that will happen or not.

Perhaps large whales or wall street will join, but they will not be buying from the current pool of available bitcoins, which has no positive effect on driving prices up. They buy directly from FBI, which has a potential of crashing the price afterwards.

whales are called whales for a reason, and wallstreeters play big. they would start buying bitcoins, not just from the FBI.. as investments.

[LostDutchman]

You people have not yet figured out that the US government is going to auction the seized Bitcoins in a manner following the law and there is not the least fucking thing that you can do about it.

[ShakyhandsBTCer]

I dont see too much of an issue with this. It's a private auction with the coins, not a exchange selling them off. If they went to an exchange to do this, I would be very concerned, but with a private auction it creates a sale outside of the BTC ecosystem and should have little effect on the price aside from speculator fears.

It doesn't matter if the mass amount of coins are sold on exchange, or privately. It'll eventually trickle down to the market. Sure the FBI isn't originally dumping it on an exchange, but there is no guarantee that the auction winner will not in turn dump it on an exchange or hold them.

it'll still be a net positive if the auction draws massive whales that would otherwise not have dipped their feet., something like an impetus for wallstreet to join the game. but no one knows whether that will happen or not.

This is not necessarily true.

What the auction will do is create supply that would not otherwise be there.

[bryant.coleman]

I don't understand the prevailing mood. It is a good thing that the US government is offloading its Bitcoin stash. Such a huge stash with a hostile government could act as a trojan horse for Bitcoin in the future. Actually we should welcome this step.

[haploid23]

You know what the US gov can also do with the coins once sold? Track them for a long time. The bidder does not truly buy "clean" coins.

This could be an experiment for them to learn how successful they can be at following these sold coins.