As the Silk Road trials started earlier this week, a lot of Bitcoin enthusiasts around the world are waiting to see what the outcome will be. Ross Ulbricht’s trial is a major milestone in the young history of Bitcoin and cryptocurrency, as a lot of mainstream media is following the proceedings closely. The first shot has been fired however, as Ross Ulbricht did admit he created the Silk Road platform.
The US government has decided to auction off the crypto currency seized last year at Silk Road, commonly known as the “Ebay for drugs”. The US Marshals Service is hoping for a windfall: The US agency is providing 50,000 Bitcoin for sale (current value US$ 19 million) and is doing so online, probably pushing up the proceeds for the US government by millions of dollars.