US Marshals Auction Participant: Price Not Significantly Below Market
The U. S. Marshals held their third auction for the bitcoin seized from Ross Ulbricht during the Silk Road investigation, auctioning off 50,000 bitcoin on March 5. Demand in this auction was higher than in the second auction held last December, but not as high as the original auction in June 2014. All told, there were 14 registered bidders who....
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More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....
The much awaited bitcoin auction by the United States Marshals Service is finally over. The US Marshals Service, in possession of confiscated bitcoins from the Silk Road investigation auctioned the last of them earlier on Thursday. Thursday's auction had about 44,341 bitcoins worth $17.21 million out for bidding by those who had earlier registered with the US Marshals Service. According to reports, the online auction saw 11 bidders bidding 30 times over a span of six hours. Completion of the latest auction signifies liquidation of all the bitcoins seized from the wallets belonging to Silk....
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....
Argh, some unfortunate news... Bitcoin has dropped by about $10 since the most recent price article. We previously introduced the question of whether or not the price increase would continue in short bursts as we have been witnessing. The third US Marshals Bitcoin Auction was announced for next month, which seemed to have sparked some interest, but maybe that interest was short-lived, and maybe the auction won't do as much as we were originally hoping. After all, traffic and participation in the second auction was considerably smaller than what we saw in the first. Maybe as each auction....
Though the bitcoin economy waits with bated breath for the end of today's US government auction of 30,000 BTC, at press time, the price of bitcoin has remained resilient, even rising in the face of the day's uncertainty. Still, industry observers may be curious to learn more about why the auction was initiated as well as the agency conducting the event. For those answers, we'll take a look at the history of both Silk Road, the online black market from which the bitcoins were seized, and the US Marshals Service (USMS), the federal agency tasked with overseeing the auction. Who are the US....