What's the point?
Why don't they just change it for money themselves and get the current rate for it?
Australia is getting ready to sell off a bunch of Bitcoin seized by police under proceeds of crime laws, in an international auction. Ernst & Young will put more than 24,000 Bitcoin under the hammer, so to speak, at a most-current valuation of around US$11.5 million (more than AU$16 million). The auction is slated for June 20 …
> At a discount I would have thought
Good idea. It might be hard to work out just how big a discount is needed though. Too little and they won't sell. Too much and they won't make as much as they could have. I have an idea. Perhaps they could just offer to sell it to whomever offers the highest amount?
Maybe, being Australian and firmly opposed to giving the little guy an even break, they're worried that exchanging BitCoin for fiat currency would 'legitimise' BitCoin in the eyes of the ordinary people who are being told 'stay away from that BitCoin - it's only used by criminals, paediatricians and terrywrists (and western governments)
Do they auction off cash? No. Shows how stupid cops are. There isn't even any point in bidding since you wouldn't bid higher than market and the winner is the person who bid higher than any other but less than market rate.
Therefore the winning bid will be :
Market - 1 Satoshi
Waste of everyone's time perhaps in an effort to avoid giving bitcoin legitacy.
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