* Posts by HobbitCZ

2 posts • joined 1 Oct 2019

Thanks-thanks to TalkTalk teen hacker: UK cops' first auction of ill-gotten Bitcoin nets £240k

HobbitCZ

Re: Auction ? Why not just convert to £ ?

1) 250k is nothing, daily traded volume is in hundreds millions of USD, so no worries there.

2) Selling on public exchange is a form of auction, there is a line of bids which you can fulfill. They would get circa 20% more this way as this was the auctioneer fee (crazy high btw).

At least I would find someone who will do it for 5% max, as there is a little they have to do to store or deliver the crypto assets.

HobbitCZ

Fees were buyers premium. So police paid nothing on top. In the time od sale price of BTC was 8400, so including premium it sold for or above market price. BitcoinSV sold dramatically over market price (someone clearly didn't know the difference between Bitcoin (8400$) and BitcoinSV (7$).

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