Second U.S. Marshal Bitcoin Auction Takes Place, Gets 11 Bidders
The U.S. Marshals have auctioned off the second group of Bitcoin seized from the Silk Road underground marketplace and its alleged owner today. As we reported yesterday, the auction consisted of 50,000 Bitcoins, allegedly from the Silk Road's servers and from Ross Ulbricht, the man accused of running the Silk Road, computer. According to Reuters, the coins were auctioned off with permission from Ulbricht and his lawyer. If Ulbricht is found innocent the funds that came from his computer will be returned to him in cash value, otherwise they will be seized as proceeds of the crime. The news....
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The second Silk Road Bitcoin auction for a 30,000 chunk of Ross Ulbricht's personal bitcoins, which he agreed to have sold, has ended today. The US Marshal's Service (USMS) is reporting that 11 registered bidders submitted a total of 27 bids; in contrast, the first Silk Road Bitcoin auction had 35 registered bidders that put in 63 bids. After the first Silk Road Bitcoin auction, it was revealed that many of the bidders only put in under-market bids. Undoubtedly, said bidders did not return to the second round knowing the true demand for large chunks of bitcoins. However, the fast growth....
The US government on Monday announced that it is auctioning the last remaining Bitcoins belonging to the now-defunct underground marketplace Silk Road. According to the US Marshal Service's (USMS) press release, the auction of 44,341 Bitcoins (nearly $1.5 million at press time) will take place on November 5 this year, from 8 am to 2 pm. The Bitcoins will be offered in 22 blocks: 21 blocks of 2,000 Bitcoins and 1 block of around 2,341 Bitcoins. The auction winners will be announced the very next day - on November 6. The agency further stated: "The registration period starts Oct. 19 and runs....
The US Marshals Service (USMS), the federal agency charged with managing the sale of property confiscated by federal law enforcement agencies, has released new data on its auction of 50,000 BTC confiscated from alleged Silk Road head Ross Ulbricht and held today. The USMS data, distributed via email, indicates that the number of bidders in the agency's second bitcoin auction has declined significantly from the first auction held this June. That auction, which received widespread media coverage in the US and had an observable affect on bitcoin's market, attracted a total of 45 registered....
Barry Silbert, CEO of bitcoin investment platforms SecondMarket and Bitcoin Investment Trust, has released new data regarding the auction syndicate that his entities formed to participate in Friday's US Marshals Auction of 30,000 BTC seized from online black market Silk Road. The figures, while potentially unrelated to the final results to be confirmed Monday, provide evidence that Silbert's strategy to use a syndicate model was successful at opening the auction to a wider range of foreign and domestic investors. Results of our US Marshals bitcoin syndicate: Bidders - 42 Bids received -....
The second Silk Road bitcoin auction held by the US Marshals Service has come to a close, and for a large bundle of bitcoins looking for a new owner, the event has yielded some disappointing results. The first auction took place in June of this year following the arrest of Silk Road operator Ross Ulbricht. The opportunity to bid on 30,000 of the once anonymous drug leader's personal bitcoins seemed too good to pass up for over 40 different digital currency enthusiasts, who placed an approximate 63 bids. According to the USMS, the second auction witnessed a massive drop in participation,....