Bitcoin Forum

Pretty good one! Haha, I enjoyed it.

I feel good about it because like most bitcoiners say, "any press is good press". As much as the gov't would like to think they have officially controlled bitcoin, they really have not.

But, whatever floats their boat eh?

i feel uneasy.

not sure why... i just do...

A typical Government is full of competing interests and mini empires. I wouldn't be surprised if there was internal fighting over who gets to control the coins.

Yea i wonder who will get control of them. I wonder what they would do with them. 

Nobody. Nothing.

Government probably just converts it into fiat and puts it into they'r debt they have.
No but seriously, I don't think they can inpact us by that much, the only thing that could happen is that they have had theyr wakeupcall and, yeah you get it....

I bet that in a few years we will hear about the first scandals involving lost or stolen government bitcoins.  Wallet security is not a trivial task for a large organizations, and government agencies have a track record of data security blunders.      

One positive effect of this is that government agencies will now be forced to fully understand how bitcoin works, whether they want to or not.  That will help campaigners such as the Bitcoin Foundation in their efforts of educating governments.

I feel uneasy too... if they sell the bitcoins, that will put USD in the hands of the government instead of someone else. That is never a good thing. Imagine if they managed to confiscate the entire 600k and sold it? that would drive a massive amount of USD away from bitcoin and into the US government. There is no way this can be a positive outcome.

The best thing that can happen would be if they destroyed the coins, that will make all our coins more valuable.

Who's to say they didn't have large amounts before SR got busted? They could of been early miners easily.

Those bitcoins that have been seized are only a small portion of a very large number of existing bitcoins. Come on. Only 27,000 BTC out of 11 million? Give it a rest, even that kind of volume won't do much. It's a tear drop in an ocean. You're fine. Calm down people.

Some day gov't can just claim all the bitcoins their property as they did it with images of 3D printed gun  :-\

simply put

bitcoin loses its drug dealer 'money' credentials now theres one less place to use it for illicit purposes.

and

governments now see's bitcoin as a valued asset worth seizing.

all in the space of one week

+2.

Bitcoin itself is a viral idea. When someone with even a modicum of brains puts in the time to understand Bitcoin, they can't help but be swayed by it even if their opinion of Bitcoin  was negative previous to their understanding.

Bitcoin adoption will rise as more people in the banking sector and in the regulatory/enforcement world understand it and learn it. Many of them will still use it as a tool to sting the hapless mortals that are foolish enough to break the sacred laws of Holy Federal Church but as understanding of it grows, just being a Bitcoin user won't an immediate cause for suspicion anymore.

this imo. i don't think most in govt particularly care, or care for, bitcoin / digital currency generally. they just want to dump it for fiat. will probably auction it off and some lucky sob will make off like a bandit!!! in theory, unless dpr can prove the coins weren't received in commission of illegal activity, they could auction it off immediately.

Good, soon they will understand that Bitcoin is a good investment and after they have invested more then 10 million bitcoin, they announce that Bitcoin is legal to trade and bam, they earn more money!!!

I feel thrilled because this is the cancer being injected  ;D

They are going to sell it, other then that, they got no real use of bitcoin.

The us would be better off buying BTC and getting ride of their fiat before it collapses.

It'd be nice if they dumped it. Gives opportunity to others to buy BTC at a cheaper rate thanks to panic sales that would come afterward.

LOL.  They could be Satoshi.

Well damn, the US government has more Bitcoin than me now (not that I have much at all).

indeed, there will be theft of government btc.
to edjucate government agency employees is a nice business idea.

Guess what.. that guy with the hat and beard?  A fictional character.

Are you suggesting congressmen have been given private multisig keys? 

Same thing police do with other confiscated property, use it to buy new cars.  Since it's the FBI, they'd probably use it for anonymous online payments while investigating drugs/porn/whatever.

Anonymous payments? lol I'm not so sure about that!

https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX

they'd never put it on an exchange, though... some lucky guy will win the auction for pennies on the dollar. such an opportunity for the one who gets it. where do they announce forfeiture auctions?!?!  :)

They will probably launder it somehow, otherwise it's quite useless, when everyone knows their btc address.

On another note - awesome caricature in the OP :)

nice comic. lol unlike other editorial comics i understood this one pretty fast.

what they will do is tumble the coins they have then use them for drug purchase on other darknet sites to build cases against dealers. they were most likely doing this before SR
seizure, except now they get to do it for free.

They can easily use their server farms to mine bitcoins. We couldn't tell how deep they are mining already.

It's nice.

Perhaps the US will just hold on to the BTC as a hedge against its own fiat currency going down the toilet. #irony

I hope the government just deletes them.

Makes my coins 0.25% worth more  ;D

They will probably end up in a DEA auction and sold for pennies on the dollar.

i feel uneasy.