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Author Topic: US Marshalls auction SilkRoad bitcoins  (Read 5183 times)
Parazyd (OP)
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June 13, 2014, 05:52:26 AM
 #1

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

http://www.forbes.com/sites/kashmirhill/2014/06/12/silk-road-bitcoin-on-the-move-as-government-prepares-to-auction-off-18-million-worth/

And you can see that the coins were moved, here:
https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH



Gonna be a nice few days for the US bitcoiners Smiley Wish I could get this piece of Bitcoin history.
NEM minnow
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June 13, 2014, 08:05:21 AM
 #2

They are just auctioning off the small part of the bitcoins too.  The US will still have a huge stash. 

Does anyone think it is funny that in the movie the DPR would just be a pirate long enough to get rich and then he would retire and live a comfortable life.  Where as the Silkroad DPR just kept on going and going until he was the largest holder of bitcoins in the world (except Satoshi).  By then, yes, of course he would get caught. 

icet208
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June 13, 2014, 08:58:35 AM
 #3

wondering how the gov. get the private keys from the silkroad owner
ljudotina
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June 13, 2014, 08:59:50 AM
 #4

wondering how the gov. get the private keys from the silkroad owner

Arrested him and thretend to maximize punishment if he doesnt give it up. As simple as that.

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June 13, 2014, 09:01:50 AM
 #5

Hopefully an investment fund will step up and take them (at a premium Smiley )
TookDk
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June 13, 2014, 09:02:05 AM
 #6

At least they auction them in bulks, one can hope that big whales pig them up and stash them away, it would be nasty if they just dumped all of them on the exchanges.

Cryptography is one of the few things you can truly trust.
Beymond
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June 13, 2014, 09:02:24 AM
 #7

They auction it for cheaper price ?
TookDk
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June 13, 2014, 09:02:50 AM
 #8

They auction it for cheaper price ?

Well, since it is a auction, then is the final price not know yet...

Cryptography is one of the few things you can truly trust.
turvarya
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June 13, 2014, 09:03:18 AM
 #9

wondering how the gov. get the private keys from the silkroad owner

http://xkcd.com/538/

https://forum.bitcoin.com/
New censorship-free forum by Roger Ver. Try it out.
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June 13, 2014, 09:09:02 AM
 #10

At least they auction them in bulks, one can hope that big whales pig them up and stash them away, it would be nasty if they just dumped all of them on the exchanges.
Better if an genuine investment fund bought them and made it public. This would be fantastic for BTC
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June 13, 2014, 09:16:36 AM
 #11

wondering how the gov. get the private keys from the silkroad owner

http://xkcd.com/538/

That is an "unknown" type of link that is sometimes dangerous. Do you have a relevant paragraph to quote, or a link to a more familiar site? Thanks

OnkelPaul
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June 13, 2014, 09:18:56 AM
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That is an "unknown" type of link that is sometimes dangerous. Do you have a relevant paragraph to quote, or a link to a more familiar site? Thanks

more familiar than xkcd? You're kidding, right?

Onkel Paul

turvarya
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June 13, 2014, 09:21:06 AM
 #13

wondering how the gov. get the private keys from the silkroad owner

http://xkcd.com/538/

That is an "unknown" type of link that is sometimes dangerous. Do you have a relevant paragraph to quote, or a link to a more familiar site? Thanks
Seriously?
xkcd.com is a very popular Comic Strip.

I just didn't figure out, how to emb the Picture(or was too lazy to figure it out). Here you go.


https://forum.bitcoin.com/
New censorship-free forum by Roger Ver. Try it out.
Bit_Happy
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June 13, 2014, 09:35:09 AM
 #14

wondering how the gov. get the private keys from the silkroad owner

http://xkcd.com/538/

That is an "unknown" type of link that is sometimes dangerous. Do you have a relevant paragraph to quote, or a link to a more familiar site? Thanks
Seriously?
xkcd.com is a very popular Comic Strip.

I just didn't figure out, how to emb the Picture(or was too lazy to figure it out). Here you go.



Nice one, thanks.
Seriously?
Yes, it is possible to spend a lot of time on the Internet and still not hear/see everything.  Smiley

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June 13, 2014, 10:15:27 AM
 #15

I prefer my comic strips to have faces, whoever creates them on xkcd must have some psychological issues?   Grin

Isn't this auction causing people to expose their personal information to the US government that a lot of them otherwise seem to hide?

This appears to be another good way for the US government to collect information about high financial players of bitcoin and I would expect a lot of people wouldn't want to go anywhere near this auction..… combined with such short notice, this may keep bidding very low and give the winner(s) more of a reason to dump them at market value for a nice profit

Bit_Happy
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June 13, 2014, 12:18:42 PM
 #16

I prefer my comic strips to have faces, whoever creates them on xkcd must have some psychological issues?   Grin

Isn't this auction causing people to expose their personal information to the US government that a lot of them otherwise seem to hide?

This appears to be another good way for the US government to collect information about high financial players of bitcoin and I would expect a lot of people wouldn't want to go anywhere near this auction..… combined with such short notice, this may keep bidding very low and give the winner(s) more of a reason to dump them at market value for a nice profit

There is the other side.  Smiley
Savvy "mainstream" wealthy people, some of whom would never consider using a typical Bitcoin exchange, now have a chance to pick up amounts of BTC which they expect to hold for Huge gains. This helps reduce the overall supply even more, and the party rolls on...

ljudotina
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June 13, 2014, 12:33:06 PM
 #17

Yes this is basicly most legal way in US to buy BTC right now. Noone cant ask you anything after this.
"Sir where did you get your BTC from?"
"F fuckin BI"!

Parazyd (OP)
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June 13, 2014, 02:14:03 PM
 #18

Yes this is basicly most legal way in US to buy BTC right now. Noone cant ask you anything after this.
"Sir where did you get your BTC from?"
"F fuckin BI"!


Don't forget they're gonna tax it for you Wink And will probably be the most non-anonymous coins out there.
ChuckBuck
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June 13, 2014, 02:23:10 PM
 #19

Wish I could get in on this action. 

Alas I don't have the minimum $200,000 to place a bid.   Cry

CharityAuction
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ColdScam
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June 13, 2014, 02:40:11 PM
 #20

Interesting to think how this will affect bitcoin prices
On the open market.

First instinct is to say OMG they are making huge sells.
Second thought is, it's  a private sale, and will be met with a private buy.
It won't touch the open market.

On the other hand, investors that buy their coins
from the FBI arguably would have done so on the open
market and driven price up more, so we'd miss that...

...but... Then again, buyers may get a discount because
buying these coins are a big pain and less anonymous,
So may attract additional dollars into bitcoin.  Also it
may generate press and more investors.

overall, I'm not expecting any huge price moves when
The auction takes place.  

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