Slashdot Mirror
US Marshals Auctioning $20M Worth of Silk Road's Bitcoins
coondoggie writes: The U.S. Marshals office says it will auction off almost 50,000 bitcoins (about $20 million worth) seized from alleged Silk Road creator Ross Ulbricht. The auction, which is the second sale of Silk Road's bitcoin collection, will take place during a 6-hour period on Dec. 4 from 8:00 a.m. until 2:00 p.m. EST. Bids will be accepted by email from pre-registered bidders only, the U.S. Marshals office said. In June more than $17 million in bitcoins seized from the Silk Road take-down were auctioned off.
Civil Asset Forfeiture
Hmm, the humour and sarcasm seem to have been be lost on you.
They're being auctioned off, with agreement from Ross Ulbricht, due to the volatility of BTC. There will be a separate civil forfeiture trial later.
Copyright (c) 1990 - 2014 Dice. All rights reserved. Use of this comment is subject to certain Terms and Conditions.
If it were a debt you owed, they'd be legally obligated to take it. If payment is a condition of keeping your space, it's not.
Once they evict you, and send you a bill for past-due rent, they have to take cash.
Oh, that made me laugh. I can set up a website to sell handguns to convicted felons and murderers with no paperwork. To top it off, it would be 100% legal.
You should read the law, it is amazing what you learn. For example, the working replica of an 1861 naval revolver requires no paperwork, no registration, can be sold online, and can be shipped to anywhere in the US.
And for the record, I sold gray area items on silk road. Things that you can legally sell, however CC merchant accounts, paypal, google pay, etc. will not let you process the payments. The used of bitcoin and the anonymity of SR allowed me to make a lot of money at it.
They sold more than drugs on silk road and there were quite a few legal/gray area items available.