Should miners collude to steal funds from wallet confiscated by US government?

[DPoS]

this sorta says we need a CC where this can not even be a possibility...if that's possible, implication, BTC current system is not the model yet that will win the race. A PPC version over time maybe a lot harder to hack as the coins will be far more distributed than mining.

using PPC would be safest since not even the Feds would bother seizing that crap

[tysat]

Should miners collude to steal funds from wallet confiscated by US government?

are the any other situations where this is encouraged?

This is probably one of the dumbest ideas I've read on the forums.  All this would do is cause the US government to turn against the bitcoin community.

[hendo420]

Cant we just make it unspendable?

Like making any transaction from that address not confirm.

Just completely take those Bitcoins out of circulation. This stops LEO from using that bitcoin in sting operations.

[Zooey]

How about just letting this one go?  (Word to parents; be sure not to send your kids off into the world minus the handy lifelesson on selectively choosing your fights).

[Buffer Overflow]

Cant we just make it unspendable?

Like making any transaction from that address not confirm.

Just completely take those Bitcoins out of circulation. This stops LEO from using that bitcoin in sting operations.

Problem is where does it all end? Next week it will be some other coins.

[jeffhuys]

What? Ofcourse not! If that'd be possible, mining would become lucrative for stealing money, not making it.
Use your damn heads!

[seafarer124]

Nice thought, but NO.

I would rather see them squirm using legitimate means and beat them that way.  No monkey business.

Who was it that said "Don't annoy your enemies while they are making a mistake"?

[kik1977]

Cant we just make it unspendable?

Like making any transaction from that address not confirm.

Just completely take those Bitcoins out of circulation. This stops LEO from using that bitcoin in sting operations.

Why???

[mb300sd]

Cant we just make it unspendable?

Like making any transaction from that address not confirm.

Just completely take those Bitcoins out of circulation. This stops LEO from using that bitcoin in sting operations.

Why???

Some small miner not participating would eventually confirm it, but I just think it'd be fun to make them wait days or weeks

[seafarer124]

Nice thought, but NO.

I would rather see them squirm using legitimate means and beat them that way.  No monkey business.

Who was it that said "Don't annoy your enemies while they are making a mistake"?

Just thought, if they use the Bitcoin does that not help Bitcoin by being in circulation?  Once they cash them in they are just getting useless fiat.

[bernard75]

Sure that helps, especially when they FBI-Style drop them on the market at once.

[Oldgamer]

sorry, i did not even read all posts .
I think it is just funny.
At first, who said that money is still there?
It would be funny if after all huge work you will find empty wallet.
Money already somewhere else: in another wallet, or just converted to some that government can really use.
Really funny post.

[buysellbitcoin]

Cant find more stupid thread here. Oh wait we have at least 3476 threads which says why it is wrong to blacklist any stolen bitcoin or such stuff.

All you will do is, prove bitcoin can not be trusted.

/thread

[hendo420]

sorry, i did not even read all posts .
I think it is just funny.
At first, who said that money is still there?
It would be funny if after all huge work you will find empty wallet.
Money already somewhere else: in another wallet, or just converted to some that government can really use.
Really funny post.

Its right here.

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

[j68r]

    First they came for the communists,
    and I didn't speak out because I wasn't a communist.

    Then they came for the socialists,
    and I didn't speak out because I wasn't a socialist.

    Then they came for the trade unionists,
    and I didn't speak out because I wasn't a trade unionist.

    Then they came for me,
    and there was no one left to speak for me.

[Rassah]

I think the coins should be stolen, but that it should be done using the good'ol method of simply stealing the private keys for that wallet. That may involve some more difficult work of actually hacking FBI's computers to find out where their keys are stored at. Miners and futzing with the blockchain should definitely be left out of it.

[kibblesnbits]

It will be interesting to see what happens to the seized BTC, not only from the SR wallets, but also from the 80 million dollar whopper that DPR had.  Would confiscated BTC be viewed as a forfeited property that could be resold, like a drug dealers car?  Or would BTC viewed as a contraband substance, like the drugs themselves?  If the former, then the Feds could dump a metric shit-ton of coins for sale, possibly crashing the market.  If the latter, then roughly 5% of all BTC in existence are permanently off-limits.  Good for us, this scenario, as BTC would get more rare. 

Another scenario - DPR goes to his grave never giving the password and the wallet.dat stays locked for eternity. 

[j68r]

I think the coins should be returned...

fixed that for you.

It will be interesting to see what happens to the seized BTC, not only from the SR wallets, but also from the 80 million dollar whopper that DPR had.  Would confiscated BTC be viewed as a forfeited property that could be resold, like a drug dealers car?  Or would BTC viewed as a contraband substance, like the drugs themselves?  If the former, then the Feds could dump a metric shit-ton of coins for sale, possibly crashing the market.  If the latter, then roughly 5% of all BTC in existence are permanently off-limits.  Good for us, this scenario, as BTC would get more rare. 

Another scenario - DPR goes to his grave never giving the password and the wallet.dat stays locked for eternity. 

The only value bitcoin will ever have long terms is in its utility as a currency and medium of exchange. It isn't physical like gold so if no one is using it for anything other than eating into available hard drive storage space it rapidly becomes useless and worthless.

[Buffer Overflow]

I think the coins should be stolen, but that it should be done using the good'ol method of simply stealing the private keys for that wallet. That may involve some more difficult work of actually hacking FBI's computers to find out where their keys are stored at. Miners and futzing with the blockchain should definitely be left out of it.

You can be sure the key is stored offline.

[coastermonger]

Bitcoin is just a tool, and a damn good one.  

The minute you start using political means to single out addresses that don't agree with your ideology it becomes compromised.  
Take whatever action you want, but leave the protocol alone.  If it were changed to allow the masses to subjectively snipe an address I would immediately cash out.