Bitcoin Forum
December 17, 2017, 01:18:27 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: How many coins are proved to be in possesion of governments?  (Read 848 times)
findftp
Legendary
*
Offline Offline

Activity: 1008


Delusional crypto obsessionist


View Profile
August 30, 2015, 07:07:04 PM
 #1

We all know about the silk road story and USG seizing 144.000 coins from DPR and some 30k coins from the market place.

I've got two qestions:

How many of those coins are still not auctioned?
Are there any other stories of governments owning bitcoins?

1FdwDuV2qgsw2w1Lza8nsea7L6mQxsc7g3
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513473507
Hero Member
*
Offline Offline

Posts: 1513473507

View Profile Personal Message (Offline)

Ignore
1513473507
Reply with quote  #2

1513473507
Report to moderator
RappelzReborn
Hero Member
*****
Offline Offline

Activity: 700



View Profile
August 30, 2015, 07:40:23 PM
 #2

We all know about the silk road story and USG seizing 144.000 coins from DPR and some 30k coins from the market place.

I've got two qestions:

How many of those coins are still not auctioned?
Are there any other stories of governments owning bitcoins?

there is this article on Ibtimes : http://www.ibtimes.com/worlds-biggest-bitcoin-wallet-owned-us-government-1514100
this is the adress here https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH but they are moved as you can see , most likely they don't own anything as goverment but maybe individuals on the gouverment do who knows

RGBKey
Hero Member
*****
Offline Offline

Activity: 574


Cypherpunk|Crypto Nerd|Provably Fair Verifier


View Profile WWW
August 30, 2015, 07:42:28 PM
 #3

I doubt the government cares about bitcoin right now on a higher level, only the cops who want to arrest people for this related to it.

CohibAA
Full Member
***
Offline Offline

Activity: 217



View Profile WWW
August 30, 2015, 07:51:02 PM
 #4

...
this is the adress here https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH but they are moved as you can see
...

 Shocked

This Transaction!

 Shocked

findftp
Legendary
*
Offline Offline

Activity: 1008


Delusional crypto obsessionist


View Profile
August 30, 2015, 07:57:45 PM
 #5

We all know about the silk road story and USG seizing 144.000 coins from DPR and some 30k coins from the market place.

I've got two qestions:

How many of those coins are still not auctioned?
Are there any other stories of governments owning bitcoins?

there is this article on Ibtimes : http://www.ibtimes.com/worlds-biggest-bitcoin-wallet-owned-us-government-1514100
this is the adress here https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH but they are moved as you can see , most likely they don't own anything as goverment but maybe individuals on the gouverment do who knows

That is an old article.
There were some coins auctioned (50k) bought by Tim Draper.

But how many coins are still owned by government?




1FdwDuV2qgsw2w1Lza8nsea7L6mQxsc7g3
Bud Spencer
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 13, 2015, 01:43:08 AM
 #6

As far as I know, The Australian Government does not posses BTC. It would be just worthless as it will not spend it on online payments.
It would be just dumb if a government does actually posses bitcoins.
achow101_alt
Sr. Member
****
Offline Offline

Activity: 268


View Profile
November 13, 2015, 01:46:50 AM
 #7

As far as I know, The Australian Government does not posses BTC. It would be just worthless as it will not spend it on online payments.
It would be just dumb if a government does actually posses bitcoins.
The US government held (maybe still holds) bitcoin that it seized from Silk Road. It has been auctioning them off to buyers for a lot of money. The last one was for 44000 Bitcoin.

Tip Me!: 1AQx99s7q1wVinbgXbA48BaZQVWpHe5gYM | My PGP Key: Fingerprint 0x17565732E08E5E41
USB-S
Sr. Member
****
Offline Offline

Activity: 364



View Profile
November 13, 2015, 02:05:15 AM
 #8

As far as I know, The Australian Government does not posses BTC. It would be just worthless as it will not spend it on online payments.
It would be just dumb if a government does actually posses bitcoins.
The US government held (maybe still holds) bitcoin that it seized from Silk Road. It has been auctioning them off to buyers for a lot of money. The last one was for 44000 Bitcoin.
What about China? I've heard rumors that the Chinese government is actually secretly buying up bitcoins to prepare themselves a good position once all fiats fail. I think, that there is little, if any truth to this, but there is always this slim chance since China is leading this race by every means.
All in all I think that China and USA are the only ones actually holding any bitcoins and seeing that USA auctioned so many of them, I think that they don't really know what to do with them.
Possum577
Sr. Member
****
Offline Offline

Activity: 434

Loose lips sink sigs!


View Profile WWW
November 13, 2015, 05:44:38 AM
 #9

OP, Great question!

Any government would be a fool not to devote some resources (quietly) to Bitcoin, in the hopes that it earns them a profit. This would be especially true if the Government was able to obtain ownership for free.

I disagree with this comment below. Governments are very willing to confiscate all that is valuable, you better believe that if they've been able to legally confiscate bitcoin, they've done so and kept some.

I doubt the government cares about bitcoin right now on a higher level, only the cops who want to arrest people for this related to it.

jaberwock
Legendary
*
Offline Offline

Activity: 1260


View Profile
November 13, 2015, 09:41:29 AM
 #10

I think the last Silk Road coins have been auctioned, but not the coins from the Silk Road 2.0 and the other dark markets seized in US. I don't know if other countries have seized coins too.

But I don't know if the govs really own the seized coins, because they can't use them at will, they will have to sell the coins first to use the funds.

Officially no government owns BTC that they can directly spend, as far I know, but of course we never know what happens behind the curtains, specially in China and other authoritarian countries

1Referee
Legendary
*
Offline Offline

Activity: 1358

www.bitkorn.com domain for sale.


View Profile
November 13, 2015, 10:07:07 AM
 #11

I think the last Silk Road coins have been auctioned, but not the coins from the Silk Road 2.0 and the other dark markets seized in US. I don't know if other countries have seized coins too.

But I don't know if the govs really own the seized coins, because they can't use them at will, they will have to sell the coins first to use the funds.

Officially no government owns BTC that they can directly spend, as far I know, but of course we never know what happens behind the curtains, specially in China and other authoritarian countries

How much coins were seized from SilkRoad 2.0 and the rest of the deep net markets? If the number is over 10K we'll probably see them auctioned them again, if they indeed hold the coins.

achow101_alt
Sr. Member
****
Offline Offline

Activity: 268


View Profile
November 14, 2015, 11:44:11 PM
 #12

I think the last Silk Road coins have been auctioned, but not the coins from the Silk Road 2.0 and the other dark markets seized in US. I don't know if other countries have seized coins too.

But I don't know if the govs really own the seized coins, because they can't use them at will, they will have to sell the coins first to use the funds.

Officially no government owns BTC that they can directly spend, as far I know, but of course we never know what happens behind the curtains, specially in China and other authoritarian countries

How much coins were seized from SilkRoad 2.0 and the rest of the deep net markets? If the number is over 10K we'll probably see them auctioned them again, if they indeed hold the coins.
Definitely more than 10k was seized in all of the darknet market busts. Silk Road itself had 144K BTC seized from the site by the US government.

Tip Me!: 1AQx99s7q1wVinbgXbA48BaZQVWpHe5gYM | My PGP Key: Fingerprint 0x17565732E08E5E41
FrostStick
Sr. Member
****
Offline Offline

Activity: 364



View Profile
November 15, 2015, 01:49:29 AM
 #13

I think the government of US is holding multi-million dollars worth of bitcoins. Which is quite a lot.
bri912678
Sr. Member
****
Offline Offline

Activity: 347



View Profile
November 15, 2015, 01:55:07 AM
 #14

I think the MtGox coins are held by the Japanese government, and they exceed the amount seized from the Silk Road. There is a lawyer in charge of dealing with the claims for them but I don't know who is holding them. It must be an arm of the Japanese government because it wouldn't trust a member of the public with them.
Blue_Tiger73
Member
**
Offline Offline

Activity: 112


View Profile
November 15, 2015, 02:27:56 AM
 #15

As far as I know, The Australian Government does not posses BTC. It would be just worthless as it will not spend it on online payments.
It would be just dumb if a government does actually posses bitcoins.

Yeah, i'm pretty sure the Australian government doesn't poses Bitcoin. There has been a post on this forum about the Chinese government possessing Bitcoin but I am not too sure whether that is true.
gentlemand
Legendary
*
Online Online

Activity: 1484


Hello You


View Profile
November 15, 2015, 02:38:51 AM
 #16

I don't believe any government is holding any for their own ends, just stuff that's been confiscated that'll be disposed of in due course. As ever Bitcoiners are overestimating how much of a shit the rest of the world gives. That might not be a fashionable view but I have never courted fashion.

n2004al
Legendary
*
Offline Offline

Activity: 1008


View Profile
November 15, 2015, 06:24:17 AM
 #17

We all know about the silk road story and USG seizing 144.000 coins from DPR and some 30k coins from the market place.

I've got two qestions:

How many of those coins are still not auctioned?
Are there any other stories of governments owning bitcoins?

I think that The Authorities which had the bitcoins of Silk Road have sold those all. I think even that the Government of USA have not bitcoin and don't care to have bitcoins. Are nothing for their needs. Have any interest to have such kind of currency. They have the us dollar through which they rule all the actual monetary world. They can use the us dollar to have everything they want and they can have as much us dollar as they want. Why care for bitcoin which is nothing for them and is known yes or not from only less of 1% of the world population?
Republic of Coin
Sr. Member
****
Offline Offline

Activity: 249


View Profile
November 15, 2015, 07:52:46 AM
 #18

I do not think government owns any bitcoin. The Japanese authority "owns" bitcoin on behalf on Mt Gox victims.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!