Browns Bottom - US Version

[tabnloz]

The US Marshalls have just provided history with their Brown's Bottom moment, with the sale of 30k bitcoin.

We'll look back at this in a few years and laugh - how stupid were they to sell those bitcoin at such a low price.

[gentlemand]

For anyone who thinks that's an unfortunate medical condition here is the reference

https://en.wikipedia.org/wiki/Sale_of_UK_gold_reserves,_1999%E2%80%932002

I wonder what this moment's place in history will be.

[beatljuice]

This auction is a little different in that it's a lot smaller and the bitcoin isn't underpinning our economy (at least not yet).

[negafen]

Didn't the operator own around 140k btc? What happen to the remaining 110k?

[tabnloz]

This auction is a little different in that it's a lot smaller and the bitcoin isn't underpinning our economy (at least not yet).

Yes, I am more referring to selling at a low.

The risk in holding is that you lose a few million worth (and bitcoin never makes it)

The risk in selling is that bitcoin really catches on.

I think there is much more upside than down.

[gentlemand]

Didn't the operator own around 140k btc? What happen to the remaining 110k?

It's 144,000 on top. It might be years before that's settled. Or rather sooner. That will truly spook people if it goes up for sale.

[beatljuice]

Didn't the operator own around 140k btc? What happen to the remaining 110k?

It's 144,000 on top. It might be years before that's settled. Or rather sooner. That will truly spook people if it goes up for sale.

I don't think it will "spook people" too much. I realize it's a much larger amount than the current sale, but look how little the market was effected this time, and people will look back and remember this precedent.

Of course I could be proven wrong come Monday.

[Ron~Popeil]

The US Marshalls have just provided history with their Brown's Bottom moment, with the sale of 30k bitcoin.

We'll look back at this in a few years and laugh - how stupid were they to sell those bitcoin at such a low price.

Since the government considers it property and not currency I think they have no choice in selling it. I am sure people more versed in this sort of thing can correct me if I am wrong.

[Marlo Stanfield]

It's not exactly something the government can just 'keep'. How exactly would that work? The law enforcement branch of the government is supposed to funnel value to other branches through seizures? Does that happen regularly? Isn't it common practice just to sell off through auction all property seized in this manner?