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InvisibleShiithead
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US Government to Sell 44,000 BTC in Final Silk Road Auction
    #22373249 - 10/13/15 12:58 PM (8 years, 3 months ago)

Quote:



Source



The US Marshals Service (USMS) has announced it will sell 44,341 BTC (worth approximately $10.6m at press time) in an online auction due to take place on 5th November.

To be held from 12:00 UTC to 18:00 UTC, the six-hour auction, open only to pre-registered bidders, represents the final sale of bitcoins in connection with civil forfeiture actions taken against convicted Silk Road mastermind Ross Ulbricht.

The bitcoins will be sold in 21 blocks of 2,000 bitcoins, with the remaining 2,341 BTC to be sold in a separate block. Winners, the agency said, will be notified on 6th November.

The agency continued:

"The registration period starts 19th October and runs until noon 2nd November, at which time potential bidders must have completed all registration requirements. Registration documents that were submitted for the Marshals’ previous bitcoin auctions are not valid for this auction; interested bidders must submit new registration documents to be considered for this auction."

The announcement comes one month after the USMS revealed to CoinDesk that it was likely to set a date for its final auction of the assets before the year's end.

In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013. The majority of the holdings – 100,000 BTC – have since been liquidated by the agency in two public auctions.






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Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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InvisiblePsilocybePhilosphy
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Shiithead]
    #22374000 - 10/13/15 03:36 PM (8 years, 3 months ago)

How's that work?  If they are discontinuing the currency why would anyone purchase it?


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The only true wisdom is in knowing you know nothing.


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InvisibleAtreyu
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: PsilocybePhilosphy] * 2
    #22374327 - 10/13/15 04:45 PM (8 years, 3 months ago)

No one is discontinuing bitcoin currency.


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つ ◕_◕ ༽つ N = R* • fp • ne • fl • fi • fc • L 


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InvisiblePsilocybePhilosphy
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Atreyu]
    #22374345 - 10/13/15 04:49 PM (8 years, 3 months ago)

Oh i must've misunderstood the whole scandal then.


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The only true wisdom is in knowing you know nothing.


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OfflinePsilosopherr
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: PsilocybePhilosphy]
    #22374898 - 10/13/15 06:24 PM (8 years, 3 months ago)

scared me there for a second talking about discontinuing bitcoin

:phew:


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InvisibleStonehenge
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Psilosopherr]
    #22375538 - 10/13/15 08:22 PM (8 years, 3 months ago)

You can buy pot in some states legally with bitcoin. You can buy it in all state illegally with bitcoin.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Offlineconfuzzed
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Psilosopherr]
    #22375553 - 10/13/15 08:24 PM (8 years, 3 months ago)

I fucking hope there's no discontinuing....

Not everything relating to their use is illegal... I don't see how they could do this anyhow....
:shrug:


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InvisibleStonehenge
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: confuzzed]
    #22375580 - 10/13/15 08:29 PM (8 years, 3 months ago)

If obumble could do away with bitcoins they would be gone already. Fortunately there is nothing anyone can do to stop it.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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Offlinetacodude
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Stonehenge]
    #22375753 - 10/13/15 09:00 PM (8 years, 3 months ago)

This is such a curropted, hypocritical, scam, and/or backwards assed move on their part. Even if they plan to attempt to track the coins usage they know it will go to drugs very likely outside of the country. This country is so broken....


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InvisibleVitalux
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Shiithead]
    #22376568 - 10/14/15 12:00 AM (8 years, 3 months ago)

It seems already that those in Power and hold the bitcoins pretty much have rigged the auction.

Think about it.....

In order to be able to make a bid, one has to be able to have about $600 000.00

How many American citizens can go shopping for bitcoins at an auction with almost 3/4 of a million dollars to have to spend? :shrug:


Kind of ironic, the legal system confiscates money and gets to keep the profits. :rolleyes:


Wish I could rob a bank and keep the money.
Unless of course, I become a cop :shrug:



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Offlinemy3rdeye
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Vitalux]
    #22376998 - 10/14/15 04:20 AM (8 years, 3 months ago)

Quote:

Vitalux said:
It seems already that those in Power and hold the bitcoins pretty much have rigged the auction.

Think about it.....

In order to be able to make a bid, one has to be able to have about $600 000.00

How many American citizens can go shopping for bitcoins at an auction with almost 3/4 of a million dollars to have to spend? :shrug:


Kind of ironic, the legal system confiscates money and gets to keep the profits. :rolleyes:


Wish I could rob a bank and keep the money.
Unless of course, I become a cop :shrug:







They are not going to be keeping the money. You or I cannot afford it, yes that's true.
But these guys can
https://en.wikipedia.org/wiki/Winklevoss_twins
The government doesn't want to have 44 thousand separate auctions. Those two could bid on a lot of 600 000 auctions. And if you think they won't, you cray cray because they will.
This isn't being marketed to average consumers its for Bitcoin exchanges and companies that own the bitcoin machines and shit like that. There are lots of companies who could potentially be interested.


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InvisibleKrishnaDreamer
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: my3rdeye]
    #22377190 - 10/14/15 06:55 AM (8 years, 3 months ago)

Anyone know what the previous bitcoins for auction went for? Per Bitcoin and market price at the time?

Doubt I'd be able to afford a 2000 block, but it could happen.


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Everybody's a ninja...


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InvisibleStargate
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: KrishnaDreamer]
    #22377982 - 10/14/15 11:04 AM (8 years, 3 months ago)

Ya know guys, its impossible to discontinue bitcoin without everyone in the world deleting the program. The gov has no control over that. It only gets to say if they accept it as a real currency or not, which doesn't matter in the end anyways.


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From before I started growing gourmet mushrooms:


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InvisiblePsilocybePhilosphy
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Stargate]
    #22379334 - 10/14/15 03:44 PM (8 years, 3 months ago)

I am not educated on the bitcoin whatsoever when we were teenagers we used the Silk Road for some shit that was about it.  I made an ignorant assumption that the government would shut it down because we have a fucked up government that doesn't approve of anything alternative to THEIR society.  At the end of the day currency is a made up wealth medium in which people agree to trade for goods,  I was just asking to become a bit more educated on the matter thought the post was interesting and fucked up all at the same time.


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The only true wisdom is in knowing you know nothing.


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InvisibleVitalux
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Stargate]
    #22384363 - 10/15/15 04:49 PM (8 years, 3 months ago)

I have bought and traded a bit with bitcoins.

However I find them to be a bit of a headache.

I see on the various forums from the darkweb that a lot of people lose a lot of bitcoins by being scammed, ripped off, etc.

One website I was on, Agora (prior to their shutdown) I constantly would hear of people who had money in their Agora wallet, only to find out that their money was stolen by thieves using various methods of hacking the account.

Even when Agora closed and went down, many vendors, as well as buyers lost all their money in their agora wallet due to not withdrawing it in time.

Plus, from what I read, many of the "bitcoin tumblers" vendors were scammers. Whereby once you sent them the bitcoin to be tumbled, you were ripped off an never saw your money again.

SO like i said, I tend to just use hard cash to do my talking.

Too many fucking scammers here in hell. :shrug:

The scammers fail to see that their low energy of life, is bringing down the whole system so in the end, they lose too. :shrug:


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InvisibleP-O
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Vitalux]
    #22385166 - 10/15/15 07:29 PM (8 years, 3 months ago)

Quote:

discontinuing the currency





my city as a bitcoin atm in a local coffee shop.  i was there for 30 mins havin a coffee and i saw at least 5 people use the machine.  One guy was feeding it $100 bills


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InvisibleVitalux
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: P-O]
    #22386315 - 10/15/15 11:17 PM (8 years, 3 months ago)

Quote:

P-O said:


my city as a bitcoin atm in a local coffee shop.  i was there for 30 mins havin a coffee and i saw at least 5 people use the machine.  One guy was feeding it $100 bills




Oh I definitely do understand that those who are well connected, well versed in understanding how to use  encryption technology such as PGP do well on the black market.

But for the average Joe, who does not want to take years to understand and learn computer techniques to safely cruse the black market is not a viable option.

Most of the newbies entering onto the dark web with bitcoins in my opinion take a few loses before they learn.

I just figure that a better system needs to happen, for example I would rather see real paper money serve that purpose. It could easily be mailed and perhaps converted using a gold standard.

I don't trust digital money, simply because how the hell can I know for sure, that there is not a tracker program attached to the bitcoin. :shrug:


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Offlineconfuzzed
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Vitalux]
    #22386645 - 10/16/15 12:38 AM (8 years, 3 months ago)

If it was tracking it would have to send and receive information.  I don't use them but, I'm sure there's ways to track your computers outgoing and incoming data relay and track it back to the source..

At least I would think this is how it would work :shrug:
The people I know using them have a lot invested in them, but they are all computer tech grads, I have won them in bets and they are always happy to do their magic and take them off my hands for cold hard cash....

Now a days though the Internet gambling can be just as treacherous as what your speaking of...

Takin that money and runnin'!!!!
But I agree, they only hurt themselves...


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InvisibleVitalux
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: confuzzed]
    #22386770 - 10/16/15 01:53 AM (8 years, 3 months ago)

Quote:

confuzzed said:
If it was tracking it would have to send and receive information.  I don't use them but, I'm sure there's ways to track your computers outgoing and incoming data relay and track it back to the source..

At least I would think this is how it would work :shrug:
The people I know using them have a lot invested in them, but they are all computer tech grads, I have won them in bets and they are always happy to do their magic and take them off my hands for cold hard cash....

Now a days though the Internet gambling can be just as treacherous as what your speaking of...

Takin that money and runnin'!!!!
But I agree, they only hurt themselves...





I tend to have lost that naive quality I use to have when I felt that human society had access to all the technology that was more or less at the disposal of the military industrial complex.

Without doubt, I feel that there is nothing :nono: that a human being can do, possess, or communicate that is not observable by the military industrial complex. What they can't get through technology they simply can get from a inside network of true homegrown psychics.

Edward Snowden was kind enough to expose some of that handywork by the United States National Security Agency (NSA).:uhoh:


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InvisibleStonehenge
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Re: US Government to Sell 44,000 BTC in Final Silk Road Auction [Re: Vitalux]
    #22389379 - 10/16/15 05:00 PM (8 years, 3 months ago)

>But for the average Joe, who does not want to take years to understand and learn computer techniques to safely cruse the black market is not a viable option.

Who the hell is so stupid they need years to learn how to use bitcoins and surf the darknet? You download tor, turn off java and javascript, do not click on any links you are not 100% sure of and voila. I just explained how to safely cruise the dark net. Now, to use bitcoins you download a wallet, go to local bitcoins, bitstamp, etc and buy some and there you go.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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