A Bitcoin Auction to Be Conducted by US Marshals Service

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.

The date for the auction as informed will take place on March 19, 2018, from 8 a.m to 2 p.m.EDT. The bidders interested in participating in the auction will have to go through a registration process, along with a deposit of $200,000 which must be filled by noon EDT March 14.

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. A binance signals private notification will be sent to the winning bidders on the same day as the auction.

The US Marshals Service has posted on their website a list of the range of cases from which the bitcoins are seized in the form of an official notice. 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. The agency sold 3,813 BTC on January 22, 2018, a sum worth over $40 mln according to that particular day’s exchange rate.

While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There have been a lot of activities in the market that have changed the tide for the better. With proper analysis and the right dose of optimism, anyone who is invested in the crypto market can make millions out of it. Cryptocurrency market is here to stay for the long term. Here in this article, we give you five positive factors that can spur further innovation and market value in cryptocurrencies.

1. Innovation in scaling

Bitcoin is the first cryptocurrency in the market. It has the maximum number of users and the highest value. It dominates the entire value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it can handle only six to seven transactions per seconds. In comparison, credit card transactions average at few thousands per second. Apparently, there is scope for improvement in the scaling of transactions. With the help of peer to peer transaction networks on top of the blockchain technology, it is possible to increase the transaction volume per second.

2. Legitimate ICOs

While there are cryptocoins with stable value in the market, newer coins are being created that are designed to serve a specific purpose. Coins like IOTA are intended to help the Internet Of Things market exchanging power currencies. Some coins address the issue of cybersecurity by giving encrypted digital vaults for storing the money.

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