FBI Second round auction of 50,000 btc! Who is gonna win this?

[BitCoinNutJob]

FBI is the biggest whale actually!

Not if they keep selling and they not anyway, roger ver and mark karpeles would be the biggest whales.  MK was reported as having 300k btc before mtgox catastrophe.

[Flashman]

Dafuq are "Computer Hardware Bitcoins" ?

[evok3d]

Just a few questions:

1. Why is it that FBI/USA is the one always chasing these things down and not any other agency from other countries - correct me if i am wrong?

2. Who is to say they did not run the entire operation as a way of getting large sums of BTC?

3. How are they allowed to sell and keep the money/btc for something that in no way belongs to them?

[calchuchesta]

Thats insane. The Winklevi will win.

[halorose]

Thats insane. The Winklevi will win.

who is the Winklevi?

[seriouscoin]

Just a few questions:

1. Why is it that FBI/USA is the one always chasing these things down and not any other agency from other countries - correct me if i am wrong?

2. Who is to say they did not run the entire operation as a way of getting large sums of BTC?

3. How are they allowed to sell and keep the money/btc for something that in no way belongs to them?

You must be new,

They have something called " civil forfeiture law" that allows them to basically rob anyone (seize your asset even you're not convicted of any crime)

Also all the drug raid's goal is to seize assets/money, they dont want actually narcotic drugs because its worth $0 (they have to burn it). Assets/money will be in their pure profits. They even call it "pennies from heaven"

[evok3d]

Also all the drug raid's goal is to seize assets/money, they dont want actually narcotic drugs because its worth $0 (they have to burn it). Assets/money will be in their pure profits. They even call it "pennies from heaven"

So really, its all a hunt to gain control of money so that others may not become as powerful and the drugs is just the reasoning, as is oil, gas, gold and other things of "value".

They have something called " civil forfeiture law" that allows them to basically rob anyone (seize your asset even you're not convicted of any crime)

That is very sad to hear. There was once a time where the people decided who ran a country and if they were not happy they would overtake such powers. They take the money on behalf of a country, yet the people receive 0% benefits from it even though their taxes/expenses pay for the people who go after these people.

Thank you for clearing that for me. Cheers!

[Piston Honda]

I'm gonna bid 

[ninjaskip]

FBI is the biggest whale actually!

Lol, sad but true.

[kolloh]

Wow, another big auction to flood the market with coins. 

[cryptworld]

whoever who wins it,it is going to pay a high overprice

[QuestionAuthority]

Also all the drug raid's goal is to seize assets/money, they dont want actually narcotic drugs because its worth $0 (they have to burn it). Assets/money will be in their pure profits. They even call it "pennies from heaven"

So really, its all a hunt to gain control of money so that others may not become as powerful and the drugs is just the reasoning, as is oil, gas, gold and other things of "value".

They have something called " civil forfeiture law" that allows them to basically rob anyone (seize your asset even you're not convicted of any crime)

That is very sad to hear. There was once a time where the people decided who ran a country and if they were not happy they would overtake such powers. They take the money on behalf of a country, yet the people receive 0% benefits from it even though their taxes/expenses pay for the people who go after these people.

Thank you for clearing that for me. Cheers!

Govt. auctions are great! A long time ago I got some drug dealers Porsche 911 turbo for pennies on the dollar at an Oakland County Sheriffs auction. God I loved that car.

[yeponlyone]

Just a few questions:

1. Why is it that FBI/USA is the one always chasing these things down and not any other agency from other countries - correct me if i am wrong?

2. Who is to say they did not run the entire operation as a way of getting large sums of BTC?

3. How are they allowed to sell and keep the money/btc for something that in no way belongs to them?

1. Not sure sorry

2. No one can say but we assume it was done as part of the operation to bust the Silk Road

3. It was forfeited to them (if gold is found in a drug dealer's house they also claim it) since it was part of the crime they say.

[Flashman]

Moral of the story, if you notice your neighbour seems to employ a lot of strange looking "armed guards", don't ask him to keep your tax refuge valuables in his basement.

[Puppet]

IM gonna win this. Im bidding 25K BTC

[pajak666]

I hope it will not be Draper again, I don't feel good when one person holds such big ammount of btc

[Eisenhower34]

I must have missed this, but how did the FBI get to Ross's bitcoins?  Did he voluntarily give them up?

I think so, I heard they did a deal with him that they could sell the bitcoins, but if he wins the trial he gets the money from the sale.

From the order: http://www.usmarshals.gov/assets/2014/dpr-bitcoins/order.pdf

Code:

WHEREAS, the Government and Ulbricht agree that, due to the volatile market for bitcoins, the Computer Hardware Bitcoins risk 
losing value during the pendency of the forfeiture proceedings;

WHEREAS, the Government and Ulbricht agree that the Computer Hardware Bitcoins are to be liquidated or sold by the Government 
before the conclusion of the forfeiture proceedings, with the net proceeds of the sale to be held as substitute res pending further order of this Court;

I am surprised that they are only selling a small portion of the coins and only after such a long time (and after the price has fallen so much).

It sounds like the government ripped Ross off because they will likely be able to sell the SR1 coins, which no one ever claimed ownership in at a higher price then this batch of coins

[Dabs]

Moral of the story, if you notice your neighbour seems to employ a lot of strange looking "armed guards", don't ask him to keep your tax refuge valuables in his basement.

Why not? I'd think that armed guards are actually a good thing. But maybe it would be better if they were not so easily noticed.

[bryant.coleman]

Thats insane. The Winklevi will win.

Winklevi bought their 100K coins when the exchange rate was 1BTC = $10. They won't be tempted now. I've heard that they are busy protecting their Bitcoin stash from robbers and hackers. 

[Kakmakr]

The thing is, many of these guys get arrested, and they cannot get hold of the stored BTC.
Then they have to defend themselves against a system funded by the citizens Tax money. ^Grin^

Only way out, is to surrender and make a deal and hope for the best outcome.

When the LAW man is finished with you, the TAX man jumps in and demand their share, so you F@#%ed anyway you look at it. ^LoL^