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U.S. Marshals complete auctioning off 30,000 seized Bitcoins
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The following comments relate to this news article:

U.S. Marshals complete auctioning off 30,000 seized Bitcoins

article published on 28 June, 2014

The U.S. Marshals Service confirmed this week that it was done auctioning off nearly 30,000 Bitcoins that were seized during a raid on the Silk Road black market. At a value of $17.7 million, the Bitcoin auction took about 12 hours on Friday. The coins were auctioned in blocks of 3000 with a final block of 2,657 bitcoins. The Marshals Service will notify all winners on Monday. The ... [ read the full article ]

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Jemborg
Senior Member
_ 		30. June 2014 @ 03:44 _ Link to this message    Send private message to this user   
So I guess this means in any court that bitcoins ARE legitimate currency.
[ + quote]
Its a lot easier being righteous than right.

DSE VZ300-
Zilog Z80 CPU, 32KB RAM (16K+16K cartridge), video processor 6847, 2KB video RAM, 16 colours (text mode), 5.25" FDD
dp70
Junior Member
_ 		30. June 2014 @ 07:55 _ Link to this message    Send private message to this user   
Actually they are property subject to seizure as the results of commission of a crime. All such items, except for contraband, can be auctioned-off. The US Marshalls care less what becomes of a forfeited item. Their function is to follow a court order.

Does that mean a Federal Court has ruled them as currency? They are as much currency as the computers confiscated.
[ + quote]
Jemborg
Senior Member
_ 		30. June 2014 @ 08:25 _ Link to this message    Send private message to this user   
I wasn't commenting on the seizure itself if that's what you thought. I suppose I could be accused of being redundant or some such.



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[ + quote]
Its a lot easier being righteous than right.

DSE VZ300-
Zilog Z80 CPU, 32KB RAM (16K+16K cartridge), video processor 6847, 2KB video RAM, 16 colours (text mode), 5.25" FDD

This message has been edited since posting. Last time this message was edited on 30. June 2014 @ 08:26
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bhetrick
AfterDawn Addict
_ 		30. June 2014 @ 11:00 _ Link to this message    Send private message to this user   
Originally posted by Jemborg:
 So I guess this means in any court that bitcoins ARE legitimate currency.
I don't think the court looked at it as a form of currency.

I think it was just looked at as nothing more than another "item"; such as auctioning off a car, house, land, Hoover Steam Vac., etc.
[ + quote]
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