US Marshals to Sell $25 Million in Bitcoin at Auction

The U.S. Marshals are set to auction off nearly $25 million worth of bitcoin later this month.

The government agency announced Monday that it will put approximately 2,170 bitcoins on the auction block, with the sale planned for March 19. Would-be bidders must submit a $200,000 deposit and complete the registration requirements by March 14 to participate, according to the Marshals Service.

This month’s auction will consist of 14 separate blocks, with two blocks of 500 BTC, 11 blocks of 100 BTC and one block accounting for 70 BTC.

According to the release, the bitcoins were confiscated in “connection with various federal criminal, civil and administrative cases,” ranging from federal trials to Drug Enforcement Agency actions.

The provenance of most of the seized bitcoins is listed online, which notably mentions that some of the coins involved were traced to the case involving Shaun Bridges, the ex-Secret Service agent who was sentenced to prison after being accused of stealing funds during the Silk Road investigation.

The March 19 sale marks the latest bitcoin auction by the agency. Just last month, the U.S. Marshals auctioned off more than 3,600 bitcoins to five winning bidders, an amount worth more than $30 million at the time. It’s also the second sale to take place within a nearly two-year period, given that prior to this year, the last auction occurred in mid-2016, when the agency sold 2,700 BTC

In what is perhaps a sign of how the value of bitcoin has increased since then, the coins on the docket that year were worth just $1.6 million at the time.

Auction image via Shutterstock

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Published at Mon, 05 Mar 2018 18:36:13 +0000

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November 16, 2017

DMD Gleams its Way to Crypto-Stardom: No ICO, No Pre-Mining Phase, and Over 4 Years of Success

Diamond celebrates four years of success as the intentionally scarce, interest-bearing DMD coins continue to offer proven financial returns with just pure dedication and effort and without a pre-mining phase or ICO.

[Note: This is a press release.]

We in the crypto-community are ever moving further away from centralized banking. We are in fact seeking sovereignty over our finances, how we store them, and what we choose to do with them.

And there are plenty of coins that offer just that. And just about that. While crypto-debit cards and new digital wallets all promise a great future for ease of trade and transaction, they don’t make an offer quite like DMD, the cryptocurrency from the brains at DIAMOND.

This high-reward and intentionally highly-scarce commodity had its first block mined 4.5 years ago, producing just over 2.5million coins, breaching the halfway point to the final total of the 4.38 million cap of its coins.

While featuring the classic cryptocurrency hallmarks — such as being able to send money around the world for near zero cost in an instant — the DMD coin has other, more elaborate objectives to not only shape the way you control your finances, but to also increase them.

By empowering its users with financial freedom, people can be their own banks with DMD at the helm of their portfolio. Every single DMD coin will be an interest-bearing asset, with a high annual interest rate, which over the next ten years will be falling gradually from the presently 25% rate, down to 1%, bringing an end to DMD’s easily-obtained status.

While interest rates will be largely governed by a multitude of factors, the Diamond Network says that when they’re operating with optimal network support levels, a user can expect over a 25% return annually on their investment.

The DMD Wealth creation cycle is, in a word, genius.

They utilize a proof-of-stake system, which works much like proof-of-work; in this, there is a mechanism that confirms and approves transactions whilst preventing fraudulent ones.

By having DMD coins and a Diamond Wallet connected to the network, you are periodically rewarded, and your balance will increase as new coins are added for supporting the Diamond Network.

The DMD mining situation is an interesting one, as it uses that proof-of-stake technology, and it can’t be mined directly. So what then?

The Diamond Multi-pool offers specialized mining hardware to mine other cryptocurrencies that use one of the many mining algorithms, which then conveniently converts them upon payout, straight into DMD coins.

Their cloud mining network is nothing to be scoffed at either, offering a 0% commission service on their network support scheme where the supporters are provided with DMD coins in a regular and trouble free manner.

Diamond is really picking up major attention as crypto-whales and newbies alike sway the markets from strength to strength. Over the past four years, DMD has been under constant and intense development with no pre-mining phase and no ICO — just pure, dedicated passion in the pursuit of creating a super secure, scarce, and valuable cryptocurrency.

Soaring 4500% in recent times to an all-time high of $12 USD per coin, the Diamond crypto network is flexing its ability to hold value of elongated periods against all the volatility that the crypto-markets present.

Showing us all one thing – which it works.

The demonstrably qualified staff and advisors making up the Diamond team have pushed the boundaries and expectancies of traditional crypto-coins, indeed this very coin, to a whole new level.

Head to their website to for more information!

Images courtesy of Diamond.

The post DMD Gleams its Way to Crypto-Stardom: No ICO, No Pre-Mining Phase, and Over 4 Years of Success appeared first on Bitcoinist.com.

US Marshals to Sell $25 Million in Bitcoin at Auction

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