For Sale: 29,656.51306529 Bitcoins

Post by mfisher87 » Thu, Jun 12, 2014, 10:18 PM UTC

leorocky wrote: post #40

bsder wrote: post #35

It would be funnier if the bitcoin exchanges blocked those blockchains as having been permanently compromised. It would prevent the feds from having an incentive to seize bitcoins.

> It would prevent the feds from having an incentive to seize bitcoins. No it wouldn't. Law enforcement seizes to deprive criminals of gain from illicit activities, not to make a profit. They sell because they can. It also wouldn't be funny. The US Marshall's service is doing what it is supposed to. If you have problems with federal law enforcement try a country that lacks a professional police force.

Post by sbierwagen » Thu, Jun 12, 2014, 10:21 PM UTC

viraptor wrote: post #36

Could someone explain the logic behind the price drop? Is that related to the fact that those 30k will be sold below the standard price? For some reason it seems counter-intuitive for me, since the money connected to those coins have been already paid once (whether for mining them or via exchange). So in practice it's more like they've been actually paid for ~twice now, so the effect "should" be opposite.

Post by adestefan » Thu, Jun 12, 2014, 10:22 PM UTC

jarrett wrote: post #13

Glyptodon wrote: post #9

This seems insane. Shouldn't it be cheaper and more efficient to just sell them on an exchange or something? (Over time, even, rather than all at once, obviously.) "Let's sell them all in blocks of 3000 and require a deposit of $200k to bid" ... yeah ...

If you were the US Marshals, would you entrust the government's money[1] to an unregulated Bitcoin exchange? [1] As to whether the government is morally, ethically, or legally entitled to the seized properties, I have no opinion. I don't know anything about the situation.

Post by bcsmith » Thu, Jun 12, 2014, 10:26 PM UTC

sbierwagen wrote: post #53

viraptor wrote: post #36

Could someone explain the logic behind the price drop? Is that related to the fact that those 30k will be sold below the standard price? For some reason it seems counter-intuitive for me, since the money connected to those coins have been already paid once (whether for mining them or via exchange). So in practice it's more like they've been actually paid for ~twice now, so the effect "should" be opposite.

http://en.wikipedia.org/wiki/Supply_and_demand Increasing supply always reduces the market price.

Post by VMG » Thu, Jun 12, 2014, 10:27 PM UTC

wnevets wrote: post #34

codeddesign wrote: post #4

wait...so you have to deposit $200k in order to bid???

if you have $17 million to spend, is $200k that big of a deal?