Alex Iglecia, MA | Facilitator
1y ago
The U.S. Marshals are auctioning approximately 4,041 bitcoins. This brief thread explains the key details.
"How will the gov Silk Road btc auction will work?"
Had no idea, so I dug in. PR online was about THAT it was happening, but not HOW. After digging... (Link at the end)
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Alex Iglecia, MA | Facilitator
1y ago
By the way, I have no affiliation with this. I'm not participating.
Just sharing 'hard' to find info that none of the PR was linking to.
U.S. Marshals Link at the end.
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Alex Iglecia, MA | Facilitator
1y ago
2/ A $200,000 deposit is required to participate. This is not the bid amount but a security deposit to ensure serious bidders.
3/11
Alex Iglecia, MA | Facilitator
1y ago
3/ The auction is split into four parts, offering different blocks of bitcoins. This allows for a range of bidding opportunities.
4/11
Alex Iglecia, MA | Facilitator
1y ago
4/ The process involves three phases: Registration, Online Auction, and Sale Close. Registration is mandatory to bid.
5/11
Alex Iglecia, MA | Facilitator
1y ago
5/ Only cash offers are accepted, with no financing terms. Buyers must comply with U.S. laws.
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Alex Iglecia, MA | Facilitator
1y ago
6/ Bitcoins will be transferred to the winning bidders after full payment,
which includes any applicable transfer fees.
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Alex Iglecia, MA | Facilitator
1y ago
7/ These bitcoins are from various federal criminal, civil, and administrative cases.
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Alex Iglecia, MA | Facilitator
1y ago
8/ Interested parties should direct their questions to the U.S. Marshals.
9/11
Alex Iglecia, MA | Facilitator
1y ago
9/ Note: The auction is not open to individuals on the U.S. Treasury's sanctions list.
10/11
Alex Iglecia, MA | Facilitator
1y ago
For everything in detail this thread summarized:
https://www.usmarshals.gov/what-we-do/asset-forfeiture/sale-approximately-404158424932-bitcoin
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