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There is an auction of approximately 2,170 Bitcoins announced by the US Marshals Service that were seized in the course of different federal criminal, civil and administrative cases, as stated by a press release on the 5th of March.

According to the information, the auction will be held on March 19, 2018 from 8 a.m. to 2 p.m. EDT. All bidders who are interested in participating in this auction must complete a registration and pay a $200,000 deposit by March 14th at noon EDT.

The bitcoins will be divided and offered in 14 different blocks: two blocks of 500 BTC, 11 blocks of 100 BTC, and one block of approximately 70 BTC. The auction will also include a private notification to the winners.

The US Marshals Service posted on their website a list listing the cases in which bitcoins were seized. Shaun Bridges, one among the record, was convicted of stealing $800,000 in bitcoins in 2015.

The US Marshals Service has previously conducted auctions of bitcoins that were seized in the course of civil and criminal proceedings. According to the exchange rate that day, 3,813 BTC were sold by the agency on January 22, 2018. This was a total of more than $40 million.

In August 2016, 2,700 BTC was sold at the previous auction. The estimated market value was close to $1.6 million at that time.

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Bitcoin is a payment system invented by Satoshi Nakamoto who released it in 2009 as an open-source software. Although Nakamoto's identity has never been confirmed, Bitcoin is now the most popular digital asset, and it's being called the "cryptocurrency".

Bitcoin's most distinctive characteristic is its mathematical proof. This is unlike traditional and conventional printed currency. Traditional currencies have centralized banking systems that control them and in the absence of any single institution controlling it, the US Treasury has termed the Bitcoin a 'decentralized virtual currency'. The underlying idea behind Bitcoin was to produce a currency entirely independent of any central authority and one that could be transferred electronically and instantly with almost nil transaction fees.

By the end of 2015, the number of merchant traders accepting Bitcoin payments for products and services exceeded 100,000. Major banking and financial regulatory authorities such as the European Banking Authority for instance have warned that users of Bitcoin are not protected by chargeback or refund rights, although financial experts in major financial centers accept that Bitcoin can provide legitimate and valid financial services. However, financial regulators, law enforcement agencies, and legislative authorities have cited the growing use of Bitcoin as a significant concern.

The owner of Bitcoin voucher service Azteco, Akin Fernandez comments that there will shortly be an important game-changer in the manner Bitcoin is generated. This will literally reduce the rate at which Bitcoin is generated every day by half. However, it is difficult to predict how the general public and merchants will react.

Against the backdrop of such a move, the predictions are that the transaction volume of Bitcoin is set to triple this year riding on the back of a probable Donald Trump presidency. Some market commentators are of the view that the price of the digital currency could spike in the event of such a possibility leading to market turmoil globally.

The Panama Papers scandal, which broke in May of this year, has prompted the European Union (EU) to take action against tax avoidance strategies that wealthy and powerful use in order to hide wealth. These rules are intended to close loopholes. Among the proposed measures is to ban anonymous trading on virtual currency platforms such as Bitcoin. The European Central Bank and the European Banking Authority need to do more research on how to best deal with digital currency, as there is currently no EU legislation.

news in crypto Explained in Fewer than 140 Characters

The Predictions

As people all over the world increase their awareness about the crypto-currency revolution, investment experts are lining up to express their opinions. In recent weeks, the pro-crypto forecasters are predicting numbers that defy gravity. It's not uncommon to see a prognosticator on TV explaining why they believe Bitcoin is destined to hit anywhere between $250,000 and $500,000 per coin within the next two years. At $500,000, the coin would have to increase more that 6000% from it's current levels. The numbers are mind-boggling.

On the other side of the fence, we find the naysayers. There are plenty of well-respected financial analyst who aren't afraid to warn people about the investment bubble. Some even admit that crypto-currencies might still have some play left in them, but sooner or later, the bubble is going to burst, and people are going to get hurt. To drive home their point, they only need to reflect on the IPO bubble of 2001.

The Technical Hurdles

The crypto-currency revolution is still in its infancy. As such, most coins, Bitcoin included, are trading without historical indicators to help investors. It is a free market in the purest form. Unfortunately, free market trading is susceptible to influence from all directions. Therein lies the rub for crypto-currency investors. With no history to fall back on, investors have to make decisions based on their gut.

The obstacles that complicate the decision-making process for Bitcoin investors are plenty. The coin is always susceptible to the technical aspects of trading. The exponential increase in price is being driven by high demand and scarce product. Still, investors get a little antsy when the price increases too much, too fast. Then we see the typical correction that comes when an investment becomes over bought. The problem is these corrections are proving to be harsh, which tests the mettle of investors who aren't used to such high levels of volatility.

Setting technical analysis aside, technology issues are also driving the market today. There's no denying that the crypto-currency market has had its issues. After proclaiming block-chain technology to be the securest approach to disseminating information, there are holes that are being exposed almost daily. The bugs will get worked out as this kind of technology seems destined for prime time. Unfortunately, Bitcoin has block-chain technology under a microscope right now.

No matter how secure any system may claim to be, hackers are sure to expose the weaknesses in a hurry. The crypto-currency industry has already been besieged by hackers, who have stolen billions of dollars in Bitcoin and other crypto-coins. Losing money to hackers tends to make investors a little jittery. It also makes for plenty of litigation from those harmed by technology that may not yet be a secure as promised.

The Fundamental Hurdles

There's an old adage: When school teachers and janitors start making millions from investing, prices are going to crash because we need school teachers and janitors. The truth is governments get nervous when its residents start losing money or making lots of money without paying taxes. It's no coincidence that India and South Korea are among the most active countries on the crypto-currency exchanges, yet both governments are considering banning the trading of all cryptos. The US, potentially the world's biggest Bitcoin player, is working in Congress to decide how to regulate the crypto-currency market. They have already banned several exchanges for possible fraudulent activity. China is discussing an outright ban while Europe seems poised to follow America's lead.

If Bitcoin or any other crypto-currency aspires to becoming an international currency for everyday payments, success would be predicated on the world's biggest economies joining in the parade. Unfortunately, the major players (mentioned above) seem to be moving in the other direction.

The biggest concern seems to be Bitcoin's appeal to the criminal element. Proof has been presented that shows North Korea has been stealing Bitcoin to help finance its nuclear program. ISIS routinely moves money among its affiliates via Bitcoin, doing so undetected until it's too late. The drug trade is also enjoying the anonymity afforded them by block-chain technology. More and more Initial Coin Offerings (ICOs) are proving to be nothing more than common scams. These are all serious issues.

These are all fundamental issues that must be favorably resolved if crypto-currencies are to survive and someday thrive.

Looking or Solutions

For the most part, people are interested in all aspects of crypto-currency. Bitcoin has already shown the potential for easily resolving payment issues between customers and vendors. However, trust is a big issue going forward. If the anonymity feature is the driving force behind the crypto-currency revolution, it's going to be hard to get governments to climb aboard and approve crypto-trading.

Let's look at how South Korea decided to resolve the Bitcoin issue. The South Korean government recently passed a bill that gives six Korean banks authority to let its customer trade Bitcoin from their bank accounts. There's only one stipulation: the account has to be opened in the customer's real name. Poof! There goes the anonymity feature. However, South Koreans can still trade Bitcoin through a Bitcoin Wallet so long as tax evasion isn't the reason they want to do so. It's a nice compromise, but its appeal may be limited.

Over the next few months, investors should start getting answers to a lot of questions. Until that time, the pricing of Bitcoin and other crypto-currencies will remain volatile. The price will increase because of demand but will drop every time a new issue becomes news. Until prices stabilize, people should focus on one rule of investing. Never invest more money that you can afford to lose. Indeed, Bitcoin is reaching its crossroads.

As the world's current front runner in the Crypto Currency market, Bitcoin have been making some serious headlines, and some serious fluctuations in the last 6 months. Almost everyone has heard of them, and almost everyone has an opinion. Some can't fathom the idea that a currency with any value can be created from nothing, whilst some love the idea that something without Government control can be traded as a valuable entity in its own right.

Where you sit on the "Should I Buy Bitcoin?" fence probably ultimately boils down to one question: Can I Make Money from Bitcoin?

Can You Make Money from Bitcoin?

In just the last 6 months, we have seen the price go from $20 a coin in February, up to $260 a coin in April, back down to $60 in March, and back up to $130 in May. The price has now settled to around $100 a Bitcoin, but what happens next is anyone's guess.

Bitcoin's future ultimately rests on two major variables: its adoption as a currency by a wide audience, and the absence of prohibitive Government intervention.

The Bitcoin community is growing rapidly, interest in the Crypto currency has spread dramatically online, and new services are accepting Bitcoin payments increasingly. Blogging giant, WordPress, accepts Bitcoin payments, and African based mobile application provider, Kipochi, have developed a Bitcoin wallet that will allow Bitcoin payments on mobile phones in developing nations.

We have already seen people make millions on the currency. We are seeing increasing numbers of people experimenting with living only on Bitcoin for months on end, whilst recording the experience for documentary viewing.

You can buy a takeaway in Boston, coffee in London, and even a few cars on Craigslist using Bitcoin. Searches blockchain daily news for Bitcoin have rocketed in 2013, with April's hike and subsequent fall in the Bitcoin price. Last week the first large acquisition of a Bitcoin company was made for SatoshiDice, an online gambling site, for 126,315 BTC (about $11.47 million), by an undisclosed buyer.

This rapid growth in awareness and uptake looks set to continue, if trust in the currency remains strong. Which leads to the second dependency. Government regulation.

Although specifically designed to work independently from Government control, Bitcoin will inevitably be affected by Governments in some way. This must be the case for two reasons.

Firstly, to achieve high levels of adoption, Bitcoin will have to be accessible to large numbers of people, and that means spreading beyond the realms of hidden transactions to normal everyday transactions for individuals and businesses. Secondly, these Bitcoin transactions could become a trackable part of people's taxable wealth, to be declared and regulated alongside any other kind of wealth.

The European Union has already declared that Bitcoin is not classed as a Fiat currency, or as money, and as such, will not be regulated in its own right. In the US, the 50 state system and number of bureaucratic bodies involved has inevitably made decisions more difficult, with no consensus reached thus far. Bitcoin is not considered to be money as such, but it is considered to act like money.

A thriving Bitcoin market in the US has a more uncertain future for now, and any conclusive legislation in the US could either have a very positive, or a very negative effect on the future of Bitcoin.

So, Should You Buy Bitcoin?

The answer depends mostly on how risk averse you are. Bitcoin certainly isn't going to be a smooth investment, but the potential of this currency is huge.

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