US Marshals Auctioning Off 29,656.51306529 Bitcoin

Do you have $200,000? Are you registered to participating in auctions held by the United States Marshals Service? Have you been looking to buy a lot of Bitcoin? If you answered in the affirmative to all three then I have an auction for you:

This auction is for 9 blocks of 3,000 bitcoins (“Series A Blocks”) and 1 block of 2,656.51306529 bitcoins (“Series B Block”).

The Bitcoin were supposedly seized from Silk Road although the auction description specifically states that they are not the Dread Pirate Robert’s. What I find interesting is that no trial has been held regarding the Silk Road so I’m not sure how the seized property is being auctioned off. It’s almost as if the state can just take your shit and sell it without due process. But being the land of the free I know that we couldn’t possibly have some kind of civil forfeiture laws that allow the state to get away with such things.

As of this writing Bitcoin is hovering right around the $600 mark so, assuming the Marshals get around market value for the Bitcoin, the auction is looking to bring in approximately $17,793,907.839174. That’s a nice chunk of change.