Familiar Participants Will Be Taking Part Once Again In The Second US Marshals Bitcoin Auction

If you want to visit Silk Road 2.0 then you will want to know that it was shut down by the feds on 5th November 2014 and the alleged operator “Defcon” has been arrested. The best alternative is Agora Marketplace, it actually has more listings than Silk Road 2.0. Silk Road 3.0 is ALREADY live and there will be more info about it here soon.

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BitcoinsThe US government’s planned second auction to liquidate 50000 bitcoins its agencies seized from the alleged mastermind of Silk Road, Ross Ulbricht, seems to draw a parallel with the initial auction. This follow up action is attracting the same buyers who took part in the initial offer of 30000 bitcoins, also seized from the alleged dark net bazaar.


Some of the noteworthy participants who took part in the initial sale and are expected to make another dash in the sophomore auction include Bitcoin Investment Trust, Binary Financial, Pantera Capital, Bitcoins Reserve, Mirror and American venture capitalist Timothy Cook, known in the bitcoin circles as Tim Draper. It appears the two overwhelming reasons for participation are financial strategy and media attention though many bidders admit the auction may receive a little less of the latter as compared to past sales.

BitcoinStrategy is still important considering the interest bitcoins continue to generate as a preferred investment opportunity. Bitcoin’s maturing market however makes auctions less and less advantageous and this is even more so now that the currency’s customer base has slightly gone down.

The 50000 Silk Road bitcoins to be offered in this second auction is only about a third of what was seized from Ulbricht. The US Marshals Service confirms it will sell the remaining in days to come though it has not set a date. Despite the auction, the liquid proceeds are still a subject of courtroom contests as the alleged Silk Road mastermind says he obtained the currency through lawful means.

About five bitcoin powerhouses are on record with public announcements alluding to their participation in this second auction. Tim Draper’s reasons for his interest in Silk Road’s heist are attractive market price coupled with the currency’s potential as a distortive technology. One participant in the summer auction who would prefer to stay away from this second offer citing important other important reasons as the cause, is Bitcoin Shop.