Feds to auction 50,000 bitcoins from DPR [x-post from /r/Bitcoin]

https://gigaom.com/2014/11/17/feds-to-auction-50000-bitcoins-from-dread-pirate-roberts/?utm_source=dlvr.it&utm_medium=twitter


Comments


[9 Points] shady_varchar:

They shouldn't be able to do that until they get a guilty verdict. But if they do, buy as much as you can and buy lots of drugs


[8 Points] deepdot:

In this order, both the United States and Ross William Ulbricht agreed that “the United States, in its sole discretion, may sell any portion or all of these bitcoins, on a date or dates and in a manner to be determined by the Government.”

Both agreed? Why? What's in it for him...? Can anyone explain this legal process?


[4 Points] TMDNM:

Won't auctioning this many coins off at one time significantly lower the market price of bitcoin?


[1 Points] None:

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[1 Points] None:

Is there any way that the coins coming from them could be tracked easier than any other transaction?


[1 Points] adam2222:

How much did they sell for at the last auction?


[1 Points] ugandariches:

i wonder how many of them are going to go back into the markets


[0 Points] None:

By selling bitcoins, aren't they admitting that it is a legitimate currency with actual value? I mean, the government can't auction off illegal merchandise(like drugs) when they seize it can they?