Over time, the US government has seized hundreds of thousands of bitcoin from people who used items cryptocurrency in the process of breaking the law. In exceptional circumstances, judged on a case by case basis, the USMS will agree to send funds for wire transfer. Most buyers and sellers insist on using an escrow service auction deals with new individuals. After the first ad, providers are welcome to use reddit's charts platform to continue to promote the service. This is an archived post. Post your Buy or Sell listing here.
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Get a tracking number for the package, or a signature upon delivery, or a proof-of-delivery receipt. Get the latest Bitcoin price here. The USMS was granted authority to manage and sell these bitcoins through court orders entered in the respective cases listed above. A user must comment on a post if they PM the OP. Litecoin Foundation Store All proceeds go to the dev's! Sellers can choose to have their earnings withdrawn in Bitcoin, to a bank account, or via paper check.
Paying with the crypto currency will for be allowed at the following auction bitcoin the end of November which will feature paintings, jewelry and watches. It may cost a small percentage fee, but bitcoin helps protect both buyers and sellers from scammers because a reputable and indifferent 3rd party handles the funds and resolves disputes. At the beginning of April, Japan announced auction was a legal payment method in the charts. One registration form items you auction place one bid on all bitcoins at the same per bitcoin price. Do a few deals with already established buyers. Wednesday's climb came after China was downgraded at Moody's items a bitcoin scaling agreement was reached by the Digital Currency Group, representing 56 companies charts 21 for, at the Consensus conference in New York.
Monday, August 22, , from 8: In order for your bid to be considered by the USMS, you must send a signed pdf copy of the Bid Form within the online auction period window, which extends from 8: Bids received before or after the online auction period will not be considered. Bids that do not conform to the instructions will not be considered. The eligible bidder who offers the highest price will be the prevailing bidder; 2.
If there are multiple bids at the highest price, the first bid received will prevail; and 3. If a winning bidder defaults, the next highest bidder will be declared the winning bidder. Bids are considered open until the USMS has declared that the bid is not a winning bid. Award and Sale Close No later than 5: The winning bidder must send the purchase price funds less the deposit amount by a wire transfer originating from a bank located within the United States and provide a wire transmittal receipt to the USMS by 2: EDT, on Tuesday, August 23, Failure to provide the USMS with a copy of the wire transmittal receipt by the deadline will result in disqualification, forfeiture of the deposit, and award to another bidder.
No bitcoin transfer will be made until the USMS has confirmed receipt of all purchase funds. The bitcoin transfer process will begin immediately following receipt of purchase funds. The winning bidder will be given private instructions related to the transferring of the bitcoins.
The bid must be an all cash offer. Bids that are contingent on financing terms of any kind will not be considered. All bids must be made in U. The winning bidder should be prepared to wire purchase funds to the USMS by 2: If the winning bidder does not provide the USMS with a copy of the wire transmittal receipt by this date, the bidder will be disqualified and another winning bidder will be selected.
The winning bidder is responsible for any wire transfer fees associated with his or her payment. The USMS will not transfer any bitcoins until it has confirmed receipt of purchase funds from the buyer. The USMS will not transfer bitcoins to an obscene public address, a public address apparently in a country restricted by the Office of Foreign Assets Control OFAC , a public address apparently associated with terrorism, other criminal activities, or otherwise hostile to the United States.
Any transfer fees associated with the transfer of the bitcoins will be paid by the buyer. The buyer will be given an opportunity to select the amount of fees charged in the transfer.
The USMS will only sell and transfer the bitcoins in a single block to a single bitcoin address. The USMS reserves the right to reject any bid for any reason whatsoever. The USMS reserves the right to sell all, some or none of the bitcoins at auction. The USMS will not respond to any telephone inquiries from the general public.
The USMS will not answer any questions regarding a the associated criminal or civil cases that resulted in the seizure of the bitcoins being auctioned, or b Bitcoin characteristics, uses or value. How did the USMS get the authority to sell these bitcoins?
The USMS was granted authority to manage and sell these bitcoins through court orders entered in the respective cases listed above.
Can a foreign citizen participate in the auction? However, bids will not be accepted from any person or entity that appears on the U. Can I form a syndicate of buyers to participate in the auction? The person or entity that registers to bid on this auction must satisfy all registration requirements, including certifying that the bidder is not acting in concert with the defendants or defendant entities.
This certification extends and applies to all members of a syndicate. The primary bidder should perform whatever due diligence the bidder feels is necessary in order to comfortably make that certification. How much money do I need to make a bid? You are responsible for ensuring that you have enough available funds to cover your bid.
If you are selected as a winning bidder, you must initiate a wire transfer and provide the USMS with a copy of the wire transmittal receipt by Wednesday, August 24, , at 2: Failure to initiate a wire deposit in the full amount of your bid, less the initial deposit, will result in forfeiture of your deposit.
Is there a reserve price for this auction? There is no disclosed reserve price for this auction. Log in or sign up in seconds. Submit a new text post. Litecoin Foundation Store All proceeds go to the dev's! A cheaper alternative to support the LTC network. Spend Litecoin The Math: Contact the mods Merchants are welcome to advertise new services, or the acceptance of Litecoin on their service.
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