United States of America auctioned $1.6 million worth of Bitcoin; will this help to increase the Bitcoin price and value? Worth of $1.6 million in confiscated Bitcoin that are auctioned off in a single day by the United States of America Marshals Service or the USMS.The auction was totaling around of 2719 BTC in a one block, the Bitcoin comes from a various sources in which is connected to both of the criminal and civil cases. The auction was held online last 22nd of August the same year of the 2016, from the variation of time from 8 in the morning until 2 in the afternoon EDT according and based to the USMS in their statement.With a larger portion of the prize forfeited coming from the Silk Road investigation and case, the USMS stated and claimed that only of the 2.8 BTC actually came from the United States V. Ross Ulbricht case while the another 1294 BTC was from the Matthew Gillum, one of the Silk Road dealers. The another 65 BTC was from Carl Force case, in which he was sentenced for stealing Bitcoins during the time of investigation of the Silk Road’s case.The other sources in which includes the IRS, the US Department of Justice, the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Homeland Security and Department of Treasury. The USMS also mentioned that the 664 BTC was from the Sean Roberson case. The prosecutors said that he created an online store to sell the counterfeited credit and debit cards. These might be the last Bitcoins for the Ross Ulbricht case running the Silk Road’s case, the infamous Bitcoin-accepted online by the black market.How the participating goes? In order to participate and join in the auction, the bidders must first register and sign up with the USMS by the 18th of August to be eligible to submit a bid on the Bitcoins worth $1.6 million USD in the BitStamp. As well, the bidders must also deposit $100,000 right before the auction by the means of the wire transfer, in including a receipt of evidence to prove the transfer.During the auction, once the bidder places his bid, there can be no changing it. This is Bitcoin that is being auctioned in which means that the winner will get the most volatile cryptocurrency to keep and store. There is a very high chance of increasing its price and value.Since the bidders are purchasing at a $586 per BTC the highest price and value in the last few months has been at $750, it was a bargain. If they hold and sell at a higher price, this certain auction will be profitable and lucrative for the winner. Also if they do not sell it, and they keep and store a piece of a history with them.Will this certain auction affect the price and value of the Bitcoin? With this certain announcement by the USMS this will ascend and raise the awareness of the Bitcoin and might positively increase and boosts the trading quantity and volumes or also the price and worth of it. Also with the amount of the Bitcoin transferred to the higher bidder, no one knows if they will put a hold onto their Bitcoin for long-term or will they sell once the Bitcoin reaches another 3-month high.On upon the moment of time on the year 2014 USMS Silk Road auction of 30,000 Bitcoins, the Bitcoin price and value rise on about $50 over the course of a day in due to the interest of the investors.
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A statistics report regarding the global uses of the Bitcoin within this year of the 2016, to come out tomorrow? Jaime McCormick who runs the Bitcoin Marketing Team and the BitcoinInIreland has just launched and also released the outcome of their annual global survey in which taken place on the period between months of April to June year 2016 on the uses of the Bitcoin. On the question of the active use of the Bitcoin in which garner the 65% of the survey says that they had sent or receive Bitcoin in the last week while the 9% of the respondents said they had not used it yet.The full results and outcome are published on Thursday afternoon by 3 in the afternoon GMT on the www.bitcoinsinireland.com.As Jamie McCormick says on his statement: “We are delighted to publish the statistical report, and we truly hope that the people are studying, investing and even working in the Bitcoin and in the Blockchain industry find it useful snapshot of the industry in this year of the 2016.”The survey outcome also gives a mesmerizing insight into how the Bitcoin users view themselves, what they like and dislike regarding the digital currency, the losing of the wallets and t5he exchange usage in which is covering every single thing from the hacks to shutdowns to users gambling habits and also the many angles and issues of the mining.How the survey went all the way through it? The team, in which includes volunteers from the Irish games industry, the Bitcointalk and the Reddit to help and assist localize the survey into 13 languages and have already laid the groundwork for the next years of the Bitcoin survey. At the request of the community and society members they are currently looking for the partners in the Chinese and Russian Bitcoin media as well as adding the Indonesian, Portuguese, Filipino and the Indian languages to the next year’s survey.In an attempt and trial to reach as many Bitcoin users as possible the survey was made into 13 different varieties of languages; in which is ranging from Chinese to Romanian and gives an insight and an outlook into the usage and the users of the digital currency not seen before.There were summations of over 1.25 Bitcoin incentives put up against 16 rewards for the participants to take part from the 0.05 BTC in which are randomly drawn and distributed in between the winning respondents throughout the period of time of the survey.Jamie McCormick mentioned that there were numerous objectives he was aiming to attain and also achieve at the same time from this project. Some included the conducting of a principal and primary research study project to help and guide his very own company’s development and also engage his agency clients and the website readers in an attempt to get a global and a non-US focused view and insights on how the people use the Bitcoin all over and around the world.They have classified and also identified the areas and location that they wanted to gather information and data on across the summation of the 37 questions in including the demographics, the active use of the Bitcoin, the opinions on the wallets, the exchanges, the gambling, the mining and the Bitcoin losses and also the pros and cons of the Bitcoin.Then who are the respondents of this survey to begin with? The responses were all gathered and collected from the summation of the 68 countries to be exactly coming from all around the world; with its majority that came from the Europe, the North America and the South-East Asia.The age demographics showed the respondents ranged are from 15 to 71 years of age, the gender demographics show that the industry is still strongly male-dominated with the male respondents are being on the percentage of 91.8% of the total and the females were only at 5.7% and with 2.5% who have chosen not to specify.The involvement in the Bitcoin unleashed and yet also revealed that the majority of the respondents have been using the Bitcoin since the year of the 2013, although there were respondents going back as far as the year of the 2009 and as recently in this year of the 2016.
In the wake of another hack that rocked the whole Bitcoin community and society on an immense and massive scale. A known Bitcoin and security entrepreneur Andreas Antonopoulos, said that where it is safer to keep and store your Bitcoin.A Tweet from Twitter account of Andreas Antonopoulos says:“My primary and major goal is to ensure and guarantee that none of the simple users who would just need to exchange currencies are using custodial exchanges and leaving their money there.”“It is risky and the danger is always there, it is unnecessary and they are the least aware or capable of understanding and managing that risk.”Right after the hacking, they diversify the risks; the repeated call by Antonopoulos comes in a timely fashion. Right after the Bitfinex exchange hack, in which the Bitcoin’s leading exchange has lost almost over 120,000 Bitcoins worth and value at summation of around $70 million, it is really certain and clear that a large number of Bitcoin owners still keep and store their digital currency on such a platform instead of their wallet.This is according and based in his differentiation of the role of the exchange in between the several functions. He also described and pictured the basic currency exchange for the smaller amounts in between the currency pairs by the users who are not even investors, the corporations or the institutions. He also quoted that this could be done in a variety of methods and ways on the platforms such as the Localbitcoins, the Mycelium trader or the Bitsquare. But for the corporations that are looking to move larger summation of amounts, he mentioned that there are no greater options in which are the decentralized though over-the-counter or OTC markets and fill some of the need.In additional of Andreas Antonopoulos statement, he said that, “Changing larger summation of amounts for the corporations is risky and dangerous. The Best to get in and out as quickly as possible was not leaving the funds on the exchange. Reduce and lessen the risk of exposure as a function of time. Use the multiple exchanged to diversify the risks and danger. And finally, for the speculation, the day-trading, the institutional trading, margin trading and etc, there is no other option than the custodial exchanges and the risks and dangers that come with that. The only option is to spread the risk across multiple exchanges and try to leverage the traditional oversight, audit, insurance, regulatory functions in order to lessen and reduce the risks and danger of any on exchange. This is the area and location of the greatest risk with no decentralized options and alternatives.”The factor of you do not need it, then you should not; right after the Bitfinex hack just for a plain example, the exchange had to calculate that each and every customer would lose for over 36% of the initial amount stored and kept in their accounts on the platform prior to its attack.Andreas Antonopoulos lastly mentions that the regular users of the Bitcoin can use a very easy hardware wallets to store and keep their currency because they do not need to keep and store it on exchanges and they should not!