US Marshals to Auction Bitcoins

Want a virtual piece of law enforcement history? You’re about to get your chance. The US Marshal’s Service is holding an auction on December 4th that will sell off 50,000 Bitcoins from Ross Ulbricht (aka Dread Pirate Roberts), the alleged founder of the black market website Silk Road. You’ll need plenty of real-world cash to get your hands on this digital currency, though. The feds are selling the digital currency in batches of 2,000 to 3,000 coins, and you’ll need to place a minimum $100,000 deposit by December 1st to claim one of them. Not exactly an impulse purchase, then. At least this isn’t the last auction you’ll see — police seized a total of 144,000 Bitcoins in the Silk Road bust last year, and roughly half of them have yet to go on sale.

[Image credit: AP Photo/Rick Bowmer]

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Sheriff forced to pay $500 Bitcoin

‘Every sort of document that you could develop in an investigation was in that folder. There was a total of 72,000 files,’ Detective Jeff McCliss said
Officials think the malware came from an ad someone in the department clicked on
‘Is it better to take a stand and lose all that information? Or make the payment grit your teeth and just do it?’ said the detective
The Dickson County Sheriff’s Office in Middle Tennessee ended up paying a ransom after a malicious computer program blocked access to their files.

Detective Jeff McCliss told WTVF-TV that malware on a computer locked the agency’s case files, which included autopsy reports, witness statements and crime scene photos.

He says the malware, called ‘Cryptowall,’ doesn’t tamper with files on a computer, but keeps them locked until a ransom is paid.

No choice: Jeff McCliss grimaced when he was forced to pay $500 worth in bitcoins in order to retrieve case files locked by a computer virus called Cryptoware +3
No choice: Jeff McCliss grimaced when he was forced to pay $500 worth in bitcoins in order to retrieve case files locked by a computer virus called Cryptoware
‘Every sort of document that you could develop in an investigation was in that folder. There was a total of 72,000 files,’ McCliss said Tuesday.

After consulting with the Tennessee Bureau of Investigation and the FBI, McCliss said the agency determined the only way to get their files back was to pay the asking price: $500 in bitcoins.

Officials think the malware came from an ad someone in the department clicked on.

‘Is it better to take a stand and lose all that information? Or make the payment grit your teeth and just do it?’ he said.

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Bitcoin going to Break 400 USD

bitcoinAfter almost one month where the Bitcoin price has been floating below 350 USD per BTC (and even lower), the price has recently increased drastically. For the first time since October 15th, 2014, we might see a Bitcoin worth more than 400 dollars.

Also read: “How to Trade Bitcoin“

The third quarter of 2014 has been quite hard on Bitcoin owners and traders seeing the Bitcoin price lose position against the US dollar. Some have even said that the Bitcoin price could crash even harder and go below 275 USD per Bitcoin.

The Bitcoin Price Chart Speaks For Itself

If you take a look at our new Bitcoin price chart, you can clearly see a positive trend taking place where the upcoming resistance level to break is 400 USD per bitcoin. The chart below shows Bitstamp’s buys and sells, including the buy/sell pressure ratios. For the last 24 hours and the last hour, there have been more buys than sells which pushes the BTC price upwards.

bitstamp bitcoin price chartThe Bitfinex price chart shows the same trend giving us, as I see it, only one possible outcome: the Bitcoin price will move above 400 USD within the next day or two. I’ll be surprised if it doesn’t.

CCN
Is this price trend caused by Raoul Pal’s comment about one bitcoin being worth 1 million USD? Or because of macro-factors explained in this analysis? What do you think?

Disclosure: I do own bitcoins, trading at own risk. Images by Shutterstock.

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Cambridge Bitcoin Meeting

Cambridge Bitcoin MeetupThe Cambridge Bitcoin Meetup group is hosting four Bitcoin education events in November. The events will feature presentations from prominent Bitcoin personalities such as Nic Cary, Jon Lee, and Vlad Zamfir and are designed to give students a crash course in cryptocurrency and entrepreneurship opportunities for Bitcoin enthusiasts.

Also Read: MIT Bitcoin Project is Live – Undergraduates Receive $100 in Bitcoin

Upcoming Cambridge Bitcoin Events

On November 11, Blockchain CEO Nic Cary will speak at the Cambridge Centre for Mathematical Sciences. His presentation, titled “The Bitcoin Revolution – Wallets and Opportunities at the Dawn of a New Industry,” will give a broad overview of the bitcoin industry and advise budding entrepreneurs about developing opportunities in the Bitcoin space.

Following Cary’s talk, Ethereum coder Vlad Zamfir will give the month’s most technical cryptocurrency discussion on November 13. His talk, which will also be hosted at the Centre for Mathematical Sciences, will emphasize mathematics, proof of stake, and crypto-economics.

CCN: World’s Largest & Leading Independent Bitcoin News Source

Less than one week later, on November 18, BTC.sx CEO Jon Lee will discuss bitcoin trading and entrepreneurship at the Cambridge University Engineering Department. His discussion will focus on Wall Street’s foray into bitcoin trading and what affects the bitcoin price.

Finally, the student-run Oxford Blocktech Network (OBN) will host a networking event at the Cambridge City Hotel on November 24. In addition to socializing with fellow bitcoiners and listening to presentations from sponsors such as Ethereum and CoinScrum, student attendees will receive £10 in bitcoin for free.

Note: Some of these events require pre-registration, so attendees should make sure to sign up on the Cambridge Bitcoin Meetup group page.

What do you think? Do you plan to attend one of these Cambridge events? Comment below!

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