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The United States government is auctioning off nearly 30,000 bitcoins on Friday. Wait, what?
The bitcoins — which are worth $17,438,618 at current BTC exchange rates — were seized by the U.S. Marshals Service during the investigation and subsequent shutdown of the online drug market Silk Road.
A total of 29,656.51 BTC are up for auction, divided into nine blocks of 3,000 BTC and one block of 2,656.51 BTC. The auction will run online until 6 p.m. ET today, June 27, 2014
Although the auction is taking place online, this isn't like eBay. Not just anyone can bid on the Bitcoin cache. Instead, eligible bidders had to register with the Marshals Service in advance, along with a $200,000 deposit. Read more...
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