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Third US Marshals Service Bitcoin Auction to Take Place in March

Avatar Guest Author 5 years ago

Oh, Ross Ulbricht…

After having a jury point in his face and scream, “You’re the real Dread Pirate Roberts,” after being handed a guilty verdict for allegedly running the underground bitcoin black market Silk Road, and after being told that he’ll have to wait another three months to be sentenced in May, another 50,000 of the supposed drug kingpin’s bitcoins are scheduled to be auctioned off by the US Marshals service on March 5th.  That roughly gives him only about three weeks to say goodbye to another chunk of his alleged stash of drug money.

The Past of bitcoins and US Bitcoin Auctions

This auction is set to be the third in a string of US Marshals auctions selling off the coins that were at one point held by Ulbricht.  The first took place in summer of last year, with venture capitalist Tim Draper being labeled the clear winner and walking off with a staggering amount of almost 30,000 bitcoins.  Draper came back for the second auction and this time went out in the runner-up position, walking away with about 2,000 bitcoins.  Whether he’ll want to be a part of this third auction or not has yet to be confirmed.

The auction will take place from 8 AM to 2 PM Eastern Standard Time, and all participants are required to pre-register, so if you’re in the mood to buy some bitcoins, now’s the time to get started.  Like in the previous auction, the bitcoins will be sold in smaller blocks, ranging from 2,000 to 3,000 bitcoins per block.

So while waiting and wondering whether or not he’ll spend the rest of his life behind bars, Ulbricht is being made to watch his fellow bitcoin enthusiasts bid and walk off again… With “his” bitcoins…

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