This activity from the Federal Government really going to crash Bitcoin for sure! no doubt! In the a few days, the lucky winner will obtain in possession of close to 30,000 BTC Bitcoin. What will they do with it?
- Sell it to individual with very cheap price, cheaper than exchange business, causing the price of Bitcoin to go down.
- Deposit to exchanger and cash it out slowly, causing the price of Bitcoin price to go down.
- Use it to buy legal products and services.
- Use it to buy illegal products and services.
- Use it for bad purpose such as drugs, and gang activities.
- Use it to hurt someone or something or some place.
I think the Federal Government are making a big mistake doing this auction of 30,000 BTC Bitcoin, as the winner will probably get involve in illegal activities since they already know these Bitcoin activities cannot be traced that easily, and perhaps these Bitcoin will fall into the bad guy and will use it against the Federal Government.