https://www.youtube.com/watch?v=YZ06qiS2UA8

I didn't even realize that they auctioned off seized bitcoins!

First, thank you for sharing this valuable information. @zer0hedge 
The auction will take place on March 19, 2018 from 8:00 to 14:00. Bidders wishing to participate must complete the registration requirements by March 14 at noon with a deposit of $ 200,000.
The bitcoins will be offered in 14 different blocks: two blocks of 500 BTC, 11 blocks of 100 BTC and a block of about 70 BTC. Winning bidders will be privately informed on the day of the auction.
The list of cases in which bitcoins have been seized is listed in an official notice posted on the US Marshals Service website. Among the cases listed is Shaun Bridges, the secret service agent who was found guilty of stealing $ 800,000 in bitcoin in 2015.
The US Marshals Service has already auctioned sums of Bitcoin seized in civil and criminal proceedings. On January 22, 2018, the agency sold 3,813 BTC, a sum that was worth more than $ 40 million during the day.
Prior to this year, the last US Marshals auction was in August 2016, where 2700 BTCs were sold. The estimated market value at the time was close to $ 1.6 million.
As previously reported by Cointelegraph, public auctions of seized cryptographic assets have been held around the world; in Ukraine, South Korea and Australia.

Amazing, this means the US has inadvertently recognized the value of bitcoins and decided they want in the on the money! Or rather they want the USD value it holds. 

If a government agency is allowed to sell recovered coins at auction will a court case of the future be able to use this to make crypto's legitimate securities despite not being a well defined organization?

In addition, how would this affect the price of bitcoin and how much per coin do you think auctioneers will pay? Above or below market price? The people able to access the auction clearly are required to have a significant amount of USD to participate thus increasing the 'whales' involved in crypto!

I guess the bidders will bid far below the market price for their benefits. Good for those with excess fiat to okay around which portrays the saying that the rich gets richer... After this since the IRS plans taxing cryto users, will bid winners be taxed? Updated a post on same topic of taxation with German plans for it too. Tks for sharing

If the Marshalls steal a fraction as much as local police then there are going to be a lot of catered early retirement parties for them. Last thing they want to do is provide a clear trail from each case where the 'find' or seize Bitcoin, by showing all block chain addresses.

Police have already stolen large amounts of coins and the problem will get much worse. Blaming North Korea is not going to work forever.

Sooooooo The US government auctions the Bitcoin to US citizens who I'm sure have to provide proof of identity. Then the government has traceability of where the coins go to and who owns the accounts. Hmmmm.

That's more than 0.01% of all bitcoins ever, that's a lot

HODL you fools!  The price is WAY too low to sell right now.  Fucking n00bs.

Funny how many in the US govt call BTC a "scam" yet...have no issues reselling it to an obvious upper class (200k deposit ? That sure as hell ensures regular John Smith cant bid) 

See...If anything this shows BTC's value to those  who run quickly to "judge/tax it".  

It's a smokescreen...they know BTC has value.

I think in the near future once the purge of Alt coins happens (i believe 75% of those alt coins you see in that top 200 list will be gone in 2 years)

BTC will still be King.

No price prediction, but it wont be knocked off it's throne by ETH/NEO/LTC/BCH...or any other alt coin.

Even the government sees the value in "internet fake money" as stated by a few US senators.

If anything i look at this auction as a positive statement to it's future.

great post as always @zer0hedge

If the Marshalls steal a fraction as much as local police then there are going to be a lot of catered early retirement parties for them. Last thing they want to do is provide a clear trail from each case where the 'find' or seize Bitcoin, by showing all block chain addresses.

Police have already stolen large amounts of coins and the problem will get much worse. Blaming North Korea is not going to work forever.

This is a whole lot of wealth in the hands of US Marshal Services. A massive opportunity for the armed forces to generate significant income. The money that will come from this auction will be put to proper use.. purchasing armed officers' supplies like uniforms, police vehicles. And also funding some of the activities of the armed forces like charity events. 
These coins must have been confiscated while facilitating crime.. they ended up being sued by the government in a civil law suit. And since the state laws can't protect people who are sued, the government doesn't have hard time in proving that the coins were used in crime. And this is how the US Marshal services could have claimed for the coins hence auctioning them.

Great news for the biders. I love the idea and this will be a great opportunity for Bitcoin investors to pich in some coins.

I think this is the best decision ever and will reduce the rate of theft in the cryptomarket. We all wish to earn more from cryptos but this should be done in a peaceful and trustworthy way .

They will serve as an example for the people who may be tempted to do so. Cryptocurrencies have given birth to stong harkers working day and night to get people's coins. This is not fair and at may cause a crypto war were only the risk takers will have to invest.

Finally, let's allow people to store their wealth properly using crypos. Thieves and other more criminals should also understand that people do Hustle a lot to have those coin. I do Hustle to have something at the end of the day. Let's encourage crypto savings and investments and reject all criminal activities.

@jona12.

P.S=> I have been following you for a while and I really appreciate your efforts as you always bring something new and informative.

I did though may be you should know me more or we can be discussing about important matters on discord if you provide your username. Mine is @jona12#3241.

I'm very sorry for any inconvenience caused on your blog and really apologies for that. 

All my apologies @zer0hedge

3,813 BTC + 2,700 BTC in past auctions is a lot of money, and they are selling it for millions right now, your question is super legit, why are they selling BTC by auction if they could start making some reserves, in which, the worst case scenario is to go up in value and become truly trusted coin and method of payment.

A total of 8683 BTC sold after this auction, which means almost $1 Billion worth of BTC in the next years.