AfterDawn: News

U.S. Marshals to auction another 50,000 Bitcoins seized from the Silk Road

The U.S. Marshals service has announced they will be auctioning off another 50,000 bitcoins seized during the takedown of the original Silk Road underground marketplace.

As of writing, the coins will be worth $11 million, but of course they may not reach market value in an auction setting.



The next auction will take place on March 5th, from 8:00 EST to 14:00 EST, and all bids must come from serious pre-registered participants. To bid, you must be registered by March 2nd, and all winners will be notified on March 6th.

Because very large bidders are hard to come by, the auction will be split into 20 blocks: 10 for 2000 bitcoin and 10 for 3000 bitcoin. The current market value for one bitcoin is $235.

The agency has auctioned off over 100,000 bitcoins seized from the Silk Road and its operator Ross Ulbricht. Ulbricht was recently convicted of a plethora of federal crimes and will serve at least 20 years in prison.

Source:
Coindesk

Written by: Andre Yoskowitz @ 18 Feb 2015 20:37

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• 3 comments

• hearme0

  Bitcoin = SCAM
  
  
  "Only worth what someone will pay" unfortunately someone will pay.

  19.2.2015 00:14 #1

• bhetrick

  Originally posted by hearme0: Bitcoin = SCAM
  
  
  "Only worth what someone will pay" unfortunately someone will pay. Yep, must be a scam.
  
  That's why more and more banks and (r)etailers are recognizing / accepting bitcoin.
  

  19.2.2015 11:19 #2

• hearme0

  Originally posted by bhetrick: Originally posted by hearme0: Bitcoin = SCAM
  
  
  "Only worth what someone will pay" unfortunately someone will pay. Yep, must be a scam.
  
  That's why more and more banks and (r)etailers are recognizing / accepting bitcoin. Oh man, I want to unleash on your ass but won't as AD will ban me again. But your comment is about the most meritless and stupidest comment I've heard yet.
  
  First off, only EU has really taken the leap of faith on a someone noteworthy scale and they are ALL privateers that employ 3rd-party solutions for converting this shitty currency that is ONLY available to a certain select niche of people. NO CURRENCY WILL EVER BE UNIVERSALLY ACCEPTED IF ALL PEOPLE CAN'T ACCESS THE CURRENCY EQUALLY.
  
  As for ATMs accepting..there are like 3 in the US all backed by noname, nonsense bitcoin ONLY companies that are truly trying to capitalize on this crap.
  
  BOA doesn't accept, Citibank doesn't, chase doesn't and they all require you "exchange/convert" through another untrustworthy and fly-by-night company that in my opinion, will likely fold sooner rather than later.
  
  All the talk of Bitcoin success is from 2013 so STAY CURRENT!!!!!!!
  
  Unsurprisingly enough, you're an AD "addict" with NO CLUE so recognize one thing amigo.........BITCOIN WILL NOT, again.....NOT BE ADOPTED UNIVERSALLY IN YOUR LIFETIME.......OR YOUR GOD FORSAKEN CHILDREN'S EITHER!
  
  Now, take your SCAM Bitcoin propaganda and spend it where the sun don't shine!
  
  
  
  Read this if you doubt my outlook. Usually only putzes and potentially nefarious people have faith in crap like this.
  
  http://fortune.com/2015/01/09/bitcoin-momentum-2015/
  
  
  Now I'm sure you'll be narrow-minded and put a lot of stock and faith into the statement made on this article that Bitcoin has increased value 1800% in past 2 years........which is OF COURSE DUE TO THE NATURE OF ANYTHING NEW THAT A SMALL PORTION OF MORONS IN THIS COUNTRY WILL TRY TO ADOPT. I imagine communinists, Jihadists and the like are excited about Bitcoin as it potentially subverts the dollar in some people's minds.

  19.2.2015 17:16 #3