41 ms·
For Sale: 29,656.51306529 Bitcoins
- notindexed 12y agohttps://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5G... https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN4...
- sp332 12y agoWhoa, almost the whole balance from that first address was just moved to here https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55 https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2...
- danielweber 12y agoUSG almost assuredly hired a few Bitcoin experts to help them handle this.
- codeddesign 12y agowait...so you have to deposit $200k in order to bid???
- yellowapple 12y agoWell considering that's around $16.7 million, I'm not surprised. What's more amusing is that the auction is "cash only".
- jarrett 12y agoI take that to mean cash in the sense of liquid assets, as opposed to something leveraged or what have you. Not cash in the sense of a briefcase full of cash.
- sp332 12y agoTERMS OF SALE: Cash. The bid must be an all cash offer. You have to wire the money, so it's not physical stacks of currency. But it does have to be US dollars.
- hueving 12y agoYes, that's what he meant by liquid assets.
- _delirium 12y agoUsually it means either cash or a cashier's check. Sometimes wire-transfer is also accepted. For lower-value items (police auctions of bikes and the like) people normally pay actual cash. For higher-value items (e.g. home foreclosure sales), people more often bring a cashier's check or wire the amount (depends on the jurisdiction).
- giarc 12y agoThat would be a big briefcase.
- saraid216 12y agoNah. Get a Briefcase of Holding.
- marincounty 12y agoWhy can't I bid in Dodgecoin?
- deleted 12y ago[deleted]
- ubernostrum 12y agoI think it's pretty standard when auctioning high-dollar-value items to require some sort of verifiable deposit to prove you actually could make the purchase if you're the high bidder...
- bthrn 12y agoYes, since they're being sold in 3000 BTC blocks, the deposit is understandably high. I imagine the blocks will sell for much more than that.
- wmf 12y agoConsidering that each asset is worth over $1M I imagine the deposit keeps out the riff-raff.
- evan_ 12y agoStandard Operating Procedure. They're not treating this any differently than any other auction. For instance this truck requires a $2070 deposit to bid: http://gsaauctions.gov/gsaauctions/aucdsclnk?sl=41QSCI14219001 http://gsaauctions.gov/gsaauctions/aucdsclnk?sl=41QSCI142190...
- wnevets 12y agoif you have $17 million to spend, is $200k that big of a deal?
- VMG 12y agoYou can bid on a single block of 3k Bitcoin (~$1.5m @ 500$/Btc)
- anigbrowl 12y agoThat's completely normal - it's just a way of ensuring the bidder is making a serious offer and can follow through with it. Same thing if you buy a house, when you put in your offer you need to write a check for 'earnest money' (anywhere from a few thousand to 5% of the list price) to show you mean business.
- saganus 12y agoAnyone care to take a guess as to how will this affect Bitcoin price?
- drcross 12y agoIt will only serve to legitimize bitcoin if anything causing a possible increase in price and won't directly affect the price through the sale.
- davidgerard 12y ago* price goes up * price goes down * price stays the same * anything else happens "THIS IS GREAT NEWS FOR BITCOIN!!"
- SilasX 12y agoMore like: - Price stays flat: "Obviously, market cap is too low to support a legitimate currency." - Price goes up: "Obviously, it can't work because it's a deflationary currency." - Price goes down: "Obviously it a bubble that's popping."
- saraid216 12y agoThe market was written without break statements. switch(news) { case 'price goes up': theskyisfalling(); case 'price goes down': thegroundisrising(); case 'price stays the same': quicklookoverthere(); default: celebrate(); }
- deleted 12y ago[deleted]
- aqme28 12y agoIt's dropped about 10% since the news.
- lucb1e 12y agoThat's not a guess.
- Glyptodon 12y agoThis 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 ...
- jarrett 12y agoIf 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.
- Omniusaspirer 12y agoI'm not sure one could possibly argue that this is morally or ethically "right". Legally it's apparently a-ok though. These coins were technically owned by all the people with accounts on the Silk Road and were not necessarily going to be used for illegal transactions. For all we know this is basically government stolen money from some guy who wanted to buy a sandwich with Bitcoin just for the laughs and to say he did.
- deleted 12y ago[deleted]
- saraid216 12y ago> For the same reason I wouldn't hand anybody involved in illegal activity my wallet. Well, let's not go that far. I'd totally give someone my wallet if they were pointing a loaded gun at my head. Ain't nothing in there worth dying for.
- deleted 12y ago[deleted]
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- whoismua 12y ago...so USA recognizes them as legal and as something of value, otherwise they'd auction, say, seized cocaine.
- wmf 12y agoSince you get a bill of sale from the US government I guess these will be the cleanest Bitcoins ever.
- Alupis 12y agoStreet value of approx: $17,330,000 USD I'd wager it will sell for much less, likely 3/4 of that street price.
- ssharp 12y agoIt's not a great look for the BitCoin market if you can buy in bulk at 75%.
- Alupis 12y agoNot really. Seized properties often sell for less than half of the market value... doesn't mean the property is worth half now... it means the government can't be bothered to take on the responsibility of selling the property at full retail -- ie. they just want to get rid of the assets and move on.
- egwor 12y agobut it does show that bitcoins are NOT considered the same thing as cash. You would not see the case where JPY or GBP or EUR would be sold off at this level of discount...
- Benferhat 12y agoThe price of bitcoins has already dropped 10% since the news.
- 0x0 12y agoWill they announce the winning bidders? Those coins will then be linked to the winners' identities permanently in the block chain. Talk about painting a target on oneself.
- Alupis 12y agoI'd imagine a business or bank will make the purchase, and they likely don't care about the anonymity aspects.
- deleted 12y ago[deleted]
- GigabyteCoin 12y agoDoes Donald Trump or Bill Gates have to shy away the fact that they have seemingly endless amounts of money?
- 0x0 12y agoCan you irrevocably transfer all their money in seconds to an anonymous & untouchable account by coercing them to give up, or hack in and steal, a private cryptokey consisting of a handful of bytes?
- adamio 12y agoWell we know the US Government has them, so I presume they'd be a strong target now
- gojomo 12y agoI love this part: The USMS will not transfer bitcoins to an obscene public address, a public address apparently in a country restricted by the Office of Foreign Assets Control (OFAC), a public address apparently associated with terrorism, other criminal activities, or otherwise hostile to the United States. So, be sure to pre-calculate your auction-winning vanity-address to be some simple transformation of your obscene/anti-American message, rather than the message itself!
- 13throwaway 12y ago1osamasjnHLJ1jwuXq5dZxQ7UZCgHe66N
- deleted 12y ago[deleted]
- bsder 12y agoIt 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.
- leorocky 12y ago> 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.
- ansimionescu 12y agoI find it hilarious that someone had to explain this.
- saraid216 12y agoIt's Hacker News and the government is involved. Of course it needed to be explained.
- mfisher87 12y ago> If you have problem with federal law enforcement try a country that lacks a professional police force. Genius statements like these are why I read HN!
- qq66 12y agoPlenty of law enforcement organizations seize money to make a profit, with very little regard to whether the owners are criminals or whether the money is the fruit of illicit activities: http://www.newyorker.com/reporting/2013/08/12/130812fa_fact_stillman http://www.newyorker.com/reporting/2013/08/12/130812fa_fact_...
- praxeologist 12y agoDoubt it, but I would love for it to happen. I see this as criminal theft by the USMS.
- viraptor 12y agoCould 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.
- anigbrowl 12y agoPeople had priced in the freeze on these coins, which might have continued indefinitely. The price drop is out of proportion ot the actual (re)inflationary effect of these bitcoins, but people are irrational.
- supergauntlet 12y agoIt's possible they're trying to drive the price down.
- DougWebb 12y agoMaybe some of the people who are looking to bid on these bitcoins are driving the price down, so that they won't have to bid as much to win them. Then when they price recovers they can start selling them off slowly at a profit.
- SolarNet 12y agoThat's an interesting understanding of how currency works. There is no currency connected to bitcoin. There is an exchange rate. Someone out there willing to give you X dollars for Y bitcoins. (Consider the concept of X dollars for Y barrels of gas, or Z oz of gold). Money is used multiple times. The dollar you spend at the store is then split up and spent again, and again, and again. So the value of the whole currency is what is important, how much buying power the currency you have is based on how many dollars there are, what they can be spent for, how often they are spent, etc. By offering X dollars for Y bitcoins, what people really mean is: offering x% of all the dollars for y% of all the bitcoins. This sale adds more bitcoins (because portions of the markets believed them unrecoverable, and they haven't been in circulation for a while), so Y bitcoins is now a smaller percentage of the whole buying power available for bitcoins, which means they are also worth less dollars. Similar effects are seen in fiat currency (like dollars) when more money is printed, it affects the money supply, and allows the government a modicum of control on inflation (when used correctly) but also can let the government to let inflation get out of control (re: most cases of Hyperinflation[1]). The simpler explanation is simply: Because the supply of bitcoins went up, with a constant demand of bitcoins, the value goes down because more people are trying to sell them, and the price goes down due to competition etc (e.g. basic supply and demand). [1] http://en.wikipedia.org/wiki/Hyperinflation http://en.wikipedia.org/wiki/Hyperinflation
- artursapek 12y agoThe price has tanked today as a result of this. http://cryptowat.ch/btce/btcusd/1hr/ http://cryptowat.ch/btce/btcusd/1hr/ Market started going crazy earlier today when DPR's seized coins started to move. https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN4... The downtrend is only accelerating.
- alex_duf 12y agotime to buy.
- ryan_j_naughton 12y agoDamn, I was planning on waiting until it hit a local minimum and then buy a few, but while I was writing the above comment, the price already rebounded from $550 to $590.
- artursapek 12y agoJust a dead cat bounce. Wait it out.
- deleted 12y ago[deleted]
- ryan_j_naughton 12y agoThe volatility in the bitcoin price just demonstrates how the majority of the people trading it have no conception of how to value the underlying asset (i.e. demand for a low cost transaction system) and thus it is speculators leading speculators a la the blind leading the blind. The current sharp price decrease is because people are worried that whoever wins this auction (and the subsequent auction of DPR's coins) will want to exit that position. Thus their will be an oversupply in the market and cause the price to decrease. Expecting this, people are taking that into account and trying to get out before the oversupply, causing a self fulfilling prophecy based on bad underlying analysis. Why would someone go long bitcoins (i.e. buy them and in such quantity) through such a difficult process as dealing with the US gov't to so quickly exit their position? My hypothesis is that it will be either rich institutional investors, hedge funds, or similar large investors who see this as an opportunity to acquire bitcoins at an undermarket price. I think many of those groups would sit on their position (and not sell them). Further, if they were to sell them, they would want to do so in a way that didn't dramatically affect the price (thus over many days, weeks, or months). Given that 30K bitcoins is far less than the total bought/sold on exchanges every day, it should be presumed that they can exit this position over a sufficient timeline in order to not cause negative pressure on the price (if the auction winners even want to sell -- which as I analyzed above, I don't think they would).
- TamDenholm 12y agoSurely this creates precedent of US government recognised legitimacy? While it might hurt the markets in the short run, i reckon it'll overall help bitcoin as a currency in the long term.
- adestefan 12y agoIt does nothing of the sort. All this does is confirm that Bitcoin is property that can be sold which is exactly what the government has said previously.
- wmf 12y agoIt reinforces existing government policy that Bitcoin isn't intrinsically illegal, but nothing more than that.
- dragonwriter 12y ago> Surely this creates precedent of US government recognised legitimacy? It confirms that the government recognizes that bitcoins are real things which can be bought and sold, but that is both so patently obvious and so well established in legal actions that the government has taken around bitcoin already that confirming it is like confirming that the earth isn't flat.
- joosters 12y agoIsn't this a bit presumptuous? Ross William Ulbricht hasn't yet been convicted of anything. I know that they aren't selling his personal bitcoins, but in the (highly unlikely) event that he is found innocent, wouldn't that mean that the Silk Road assets need to be returned to him? How then can they sell them now?
- ars 12y agohttps://news.ycombinator.com/item?id=7886226 https://news.ycombinator.com/item?id=7886226
- ryan_j_naughton 12y agoIt is presumptuous, but that is how civil forfeiture works. Its atrocious. Take a look at this well written article by the New Yorker Taken: The Use and Abuse of Civil Forfeiture http://www.newyorker.com/reporting/2013/08/12/130812fa_fact_stillman http://www.newyorker.com/reporting/2013/08/12/130812fa_fact_...
- josephschmoe 12y agoThat is indeed blood boiling. I am now upset after reading this...
- dragonwriter 12y agoWhile there are real issues with civil forfeiture raised in that article, they largely don't apply here -- this isn't a case where the government said "let us seize your assets and we won't prosecute you" (using it as an extortion mechanism) or where the cost of contesting forfeiture exceeds the value of the assets. Its a case where Ulbricht chose to assert a claim on certain seized property and not on others, either because he is not, in fact, DPR (which is what he claims) and didn't want to steal property that wasn't his, or because he is actually is DPR but admitting that he owned the Silk Road servers and bitcoins would make his conviction more likely because it would make it harder for him to deny being the guy behind Silk Road.
- ahallock 12y agoThat's disgusting. FTA: 'Many states, facing fiscal crises, have expanded the reach of their forfeiture statutes, and made it easier for law enforcement to use the revenue however they see fit.' How are they any better than the criminals they're supposed to be protecting us from?
- adambom 12y agoSomeone should steal these before they can sell them
- deadfall 12y agoThey should try http://coinbase.com http://coinbase.com ($591.11 right now)
- NAFV_P 12y agoI've been watching [0] for the past ten minutes or so. Fucking hell, individual instances of radon-222 are more predictable. [0] http://bitcointicker.co http://bitcointicker.co
- deleted 12y ago[deleted]
- GigabyteCoin 12y agoIs anybody else surprised by the urgency with which they seem to be selling these coins? They only made the announcement today and you have to be registered to bid by this coming monday? Is this typical of government auctions?
- drcode 12y agoThat's weird, because whenever the government spends my tax dollars they usually work so hard to make sure they are used in the most prudent way possible, planning well ahead into the future to maximize the value of the resources available to them.
- samplonius 12y agoThe gov't announced months ago that unclaimed assets seized from Silk Road would be auctioned. The waiting period has now expired. And why shouldn't it be fast? There is a single person who holds over $1B USD of Bitcoin, so big Bitcoin positions are normal. If you have the US money on-hand, this is a 5 minute decision. No need to drag it out. The real story is the losers dumping their Bitcoin positions as the market goes down, while the smart people buy up those coins too. I guess the forums and IRC channels are full of people telling you to sell cheap. And next week, they will be telling you to buy high.
- kyledrake 12y agoI doubt these are going to be liquidated once purchased. Someone is going to buy them cheaper than market rate and probably go long with them.
- vijayboyapati 12y agoThis is good in a way. It's yet another tacit admission of the legal legitimacy of bitcoin by USG. It's not like USG would seize 20kg of cocaine then sell it into the market in an auction!
- smtddr 12y ago"This is actually good news!" -- http://thisisactuallygoodnews.com/ http://thisisactuallygoodnews.com/ But seriously, I'm a bit suspicious about what gov would do with the list of all the people willing to buy those coins.
- alextgordon 12y agoCocaine was once legal too.
- smoorman1024 12y agoThey could probably get more value out of the bitcoins by selling them slowly in the market rather than issuing a block sale. That's like Ackman running to the market and yelling for sale 20,000,000 shares of JCP. He instead slowly acquires or divests his stake.
- WarriorOTL 12y agofrom https://bitcointalk.org/index.php?topic=650311.0 https://bitcointalk.org/index.php?topic=650311.0 Miners, now it is your turn. A US-tax-funded violent underground organization is about to sell Bitcoins which got robbed from a innovative San Francisco startup, a marketplace which was creating a better because more peaceful world! A marketplace which put users, transparency, safety and quality first and not outdated laws and bureaucracy. A marketplace which enriched our private private lives and helped us having a better time together in love and peace. A marketplace which was ultimately against violence, guns, corruption, distrust and obfuscation. Quote Silk Road Reduced Violence in the Drug Trade, Study Argues - http://www.wired.com/2014/06/silk-road-study/ http://www.wired.com/2014/06/silk-road-study/ America's war on drugs is lost. We all know it! It is time to stop it before it does further harm to the people of this world. Let's face it. Most likely only two people have the power to block the silkroad coins (https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN4...) from being sold. They are the operators of the biggest pools: Ghash.io and BTCguild. Together they have more than 51% of the networks hashing power. If they do not want to (because they might be already saturated) all we need to do is to convince the majority of the miners to join other pools which do following... HOWTO :: Technically speaking the ming pool operators need to (1) block all new transactions which are descendants of the silkroad coins which were located once on 1FfmbHfnpaZjKFvyi1okTjJJusN455paPH and (2) do not accept new blocks which contain such transactions as part of the longest chain (which you mine on). The Bitcoin protocol remains unchanged and allows by definition such interventions. It is time to use them for the benefit of our society. And it will be a race. Let the longest chain win! MINERS UNITE! It is finally time to stop violent tax-funded underground organizations like the FBI from exploiting the people who they were once supposed to protect! Do not let people who stay totally in dark take away more of your wealth for themselves and projects which will further limit your freedom! Join mining pools which block the silkroad coins until the legitimate owner gets access to them back or at least a fair and public trial happened! @ Developers :: Build patches for mining pools which follow the HOWTO. Build also patches for the wallets which consider transactions invalid which originated from the FBI address or at least warn users after having received such transactions. Make it easy for people to express their opinion on this topic through software! The blockchain is not neutral. It would not exist without hard working people. People who love freedom and honest behavior. Good people. It is time for your vote.
- chuckup 12y agoThis is only what is currently being minted every 8.2 days. I predict the price will go up due to the media attention - this is a very cool story, expect lots of news coverage. When/if a Silk Road based movie ever comes out, expect "the moon". You couldn't ask for a better story - the opposite of what Bitcoin really is when you think of it - finance, computers - stuff that bores the hell out of most people. Instead: drugs! conspiracy! magic internet money! Now, add "Satoshi" - mysterious inventor who's vanished. Seriously, you can't write this stuff!
- imrehg 12y ago"Transfer Fees. Any transfer fees associated with the transfer of the bitcoins will be paid by the buyer." Dear officers, these are zero fee transactions, if there were any :)
- JacobAldridge 12y ago"All bids must be made in U.S. dollars." Which dents my plan of offering to buy each of the BTC 3,000 blocks with an offer of BTC 2,000 each.
- marme 12y agoWhat people should be more concerned with is the fact that the government is selling off someone elses property before they have even been convicted of a crime. Dread pirate roberts plead not guilty and has still not had a trial yet. He has not been convicted of any crime so if these are his coins they are selling them before the trial is even finished
- adamfeldman 12y agoHow is this possible?
- badfortrains 12y agoCivil forfeiture. From wikipedia: http://en.wikipedia.org/wiki/Civil_forfeiture#United_States http://en.wikipedia.org/wiki/Civil_forfeiture#United_States "In civil cases, the owner need not be judged guilty of any crime; it is possible for the Government to prevail by proving that someone other than the owner used the property to commit a crime. In contrast, criminal forfeiture is usually carried out in a sentence following a conviction and is a punitive act against the offender." Or if you're up for a long read: http://www.newyorker.com/reporting/2013/08/12/130812fa_fact_stillman?currentPage=all http://www.newyorker.com/reporting/2013/08/12/130812fa_fact_...
- easytiger 12y agoHow is that reasonable?
- gambiting 12y agoIt's not. But it's not like the US Justice system is not known for its acting grossly out of proportion.
- harshreality 12y agoIt's a regular occurrence that people who are probably innocent have property seized under forfeiture laws, and never get the property back. Some of them are never even charged. Others are charged but beat the charges. It's worse, though. While it's possible to get the property back, you have to prove by a preponderance of the evidence that the property had no connection to a crime. That's a difficult thing to do.
- DogeDogeDoge 12y ago$200 000 seems to be a big anti troll bid blocker. But i bet someone is going to get rich and buy them way below market price.
- danielweber 12y agoAlmost by definition, they will be sold at "market price." It's the "market price" of buying 3K blocks of Bitcoin as opposed to the "market price" of the daily Bitcoin exchanges. If the government somehow seized a giant comic book collection, they wouldn't try to sell them off individually on eBay. They would auction it off in 1 block, and interested parties who know how to maximize its value would bit on it. It's basically "Storage Wars."
- mschuster91 12y agoInsane. The USMS with this announcement massively devalued it. It would have been far better to quietly sell these BTC evenly spread across the major exchanges at market prices.
- danielweber 12y agoTheir job isn't to protect the Bitcoin market. If you have a plan to get 98% of the value of these Bitcoins and think that someone else will only get 70%, then dig through your couch cushions to raise 15 million bucks and outbid the other guy. These are totally normal market mechanisms.
- Rulero 12y agoThis is very shocking. So the government makes it illegal to sell narcotics, regardless, some individuals take a risk and deal drugs to be able to sustain themselves or finance a lifestyle of their choice. Now the government start prosecuting someone, seize their assets (Which were turned over through illicit methods) and release this dodgy money back to the market. What's more disturbing about this whole scenario is the fact that someone is getting done over. What if the government kept prosecuting dealers and then selling their assets back to the market? Those assets should be "destroyed" - just the way narcotics are destroyed when dealers get caught. This is a joke.
- danielweber 12y agoIf the government found a drug dealer with a suitcase full of Canadian dollars, the government wouldn't destroy them. Bitcoins aren't what made Silk Road illegal.
- halviti 12y agoThat's a silly analogy. The government has already stated that bitcoin is property, and they are treating it like any other legal property, selling it just like they would sell seized cars or houses. You really want bitcoin to be on the same level as illegal narcotics? Why?
- dragonwriter 12y ago> Those assets should be "destroyed" - just the way narcotics are destroyed when dealers get caught. Why? You keep rephrasing the claim that what the government is doing is wrong and then say they ought to be destroying seized assets seized as instrumentalities or proceeds of crime the way they (generally) do seized items that are illegal-in-themselves like narcotics, but you actually don't make any argument for why this is the case. Why should the government ever destroy property that is legal to own and possess and has value in the market? That seems to be a net loss to society anyway you slice it.
- Intermernet 12y agoIs there much difference between this, and if the DEA had busted some meth dealers who had a bunch of gold sitting around? Or if the FBI had busted some mafia family with billions in property? What are the precedents here? Does this style of US government confiscation / sale have any analog in realms outside the net? I'm honestly curious, I know that governments are completely within their (self defined, but generally accepted) rights to profit from these seizures, but what are the implications of profiting from the proceeds of crime, and has this raised it's head in more "traditional" areas before?
- cinitriqs 12y agoSo... they are selling off "illegaly claimed" BTC now? Ah but of course, they have been doing the same thing with everything else for years... (supporting their own departments, making them able to buy tanks, cars, houses and plenty more). Nothing new here, carry on, carry on!!!
- CoreSet 12y agoProbably a dumb question, but I seem to have trouble understanding the post: Are the bitcoins being sold in one discreet chunk (you buy the entire wallet or nothing) or are they being parceled out (it mentions auctioning off blocks)? Also, is it possible to use these bitcoins in a transaction, or would you simply be paying for the still-encrypted wallet?
- lutador1986 12y agoHere's a crowdfunded bid to win the bitcoin: https://news.ycombinator.com/item?id=7889904 https://news.ycombinator.com/item?id=7889904
- lifeformed 12y agoWhy must they sell all of them as one bundle? Can't they sell smaller amounts to many different buyers? Or is that too complicated?