User705 (OP)
Legendary
Offline
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
|
|
October 10, 2013, 03:13:47 AM |
|
So FBI "seized" BTC from SR. And by "seized" they had to get their own address and then do a correct signed transaction to send btc to that address. Oh and DPR supposedly has 600k more coins. They are fully visible but can't be seized. It must feel odd not to be able to just take. It's likely FUD but still I wonder how long till governments just say fuck it and simply outlaw bitcoins.
|
|
|
|
Phinnaeus Gage
Legendary
Offline
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
|
|
October 10, 2013, 04:02:17 AM |
|
So FBI "seized" BTC from SR. And by "seized" they had to get their own address and then do a correct signed transaction to send btc to that address. Oh and DPR supposedly has 600k more coins. They are fully visible but can't be seized. It must feel odd not to be able to just take. It's likely FUD but still I wonder how long till governments just say fuck it and simply outlaw bitcoins.
Good news! Bitcon won't be outlaw prior to DPR's trial.
|
|
|
|
User705 (OP)
Legendary
Offline
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
|
|
October 10, 2013, 04:19:51 AM |
|
Nice at least a few more years then.
|
|
|
|
Phinnaeus Gage
Legendary
Offline
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
|
|
October 10, 2013, 04:28:45 AM |
|
Nice at least a few more years then.
Are we forgetting about Mt Gox's account that is also locked up by the USG? The more they lock up and would eventually want in their coffer, the longer Bitcoin will stay online.
|
|
|
|
TheButterZone
Legendary
Offline
Activity: 3038
Merit: 1032
RIP Mommy
|
|
October 10, 2013, 04:40:44 AM |
|
Is 1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX really an address the FBI generated securely and randomly themselves? Or did they just put an unencrypted private key of the Silk Road tumbler onto blockchain.info wallet, a private key that could be stored elsewhere and spent right out from other them?
|
Saying that you don't trust someone because of their behavior is completely valid.
|
|
|
|
crazynoggin
|
|
October 10, 2013, 06:28:25 AM |
|
How come the FBI can't get the cash?? According to GTA 5, government institutions torture people to get information to get money so this must be true.
|
|
|
|
ixne
|
|
October 10, 2013, 11:06:55 AM |
|
A great article by Wired on how the FBI might deal (or not deal) with their seized bitcoins: http://www.wired.com/wiredenterprise/2013/10/silk-road-bust/Very interesting problem for them: bitcoin has already been legally declared a form of currency, but they have no government-sanctioned method of dealing with bitcoin currency. I'm guessing it either gets sold at auction or they tear up the private key.
|
|
|
|
Birdy
|
|
October 10, 2013, 01:39:21 PM |
|
Oh and DPR supposedly has 600k more coins. They are fully visible but can't be seized.
This is news to me. They are fully visible? Any source of that information? Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
|
|
|
|
dserrano5
Legendary
Offline
Activity: 1974
Merit: 1029
|
|
October 10, 2013, 02:04:07 PM |
|
This is news to me. They are fully visible? Any source of that information? Yes, page 15 mentions 614,305 BTC in commissions. Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
Of course it's less, DPR had some expenses to cover after all, and some of those were paid when BTC was worth much less than today.
|
|
|
|
cbhelp
Newbie
Offline
Activity: 56
Merit: 0
|
|
October 10, 2013, 02:09:15 PM |
|
A great article by Wired on how the FBI might deal (or not deal) with their seized bitcoins: http://www.wired.com/wiredenterprise/2013/10/silk-road-bust/Very interesting problem for them: bitcoin has already been legally declared a form of currency, but they have no government-sanctioned method of dealing with bitcoin currency. I'm guessing it either gets sold at auction or they tear up the private key. The governement loves money, 0% chance they tear up the private key
|
|
|
|
joesmoe2012
|
|
October 10, 2013, 02:15:11 PM |
|
This is news to me. They are fully visible? Any source of that information? Yes, page 15 mentions 614,305 BTC in commissions. Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
Of course it's less, DPR had some expenses to cover after all, and some of those were paid when BTC was worth much less than today. They don't see that all in one account though, but rather they calculate it based upon sales recovered from the SQL DB.
|
|
|
|
shuttleclock
Newbie
Offline
Activity: 50
Merit: 0
|
|
October 10, 2013, 04:02:58 PM |
|
So I heard that 600K more Bitcoin doesn't belong to DPR, but it belongs to TSR members..
|
|
|
|
providers36
Newbie
Offline
Activity: 57
Merit: 0
|
|
October 10, 2013, 04:29:18 PM |
|
Looking fwd to see how this will play out there are few scenarious how fby can destabilize btc...
|
|
|
|
FanEagle
Legendary
Offline
Activity: 3024
Merit: 1129
|
|
October 10, 2013, 04:45:23 PM |
|
I really wanna see what's going to happen.
|
|
|
|
Mitchell
Staff
Legendary
Offline
Activity: 4074
Merit: 2262
Verified awesomeness ✔
|
|
October 10, 2013, 04:50:20 PM |
|
So I heard that 600K more Bitcoin doesn't belong to DPR, but it belongs to TSR members..
Other way around.
|
| | | . Duelbits | | | ▄████▄▄ ▄█████████▄ ▄█████████████▄ ▄██████████████████▄ ▄████▄▄▄█████████▄▄▄███▄ ▄████▐▀▄▄▀▌██▄█▄██▐▀▄▄▀▌███ ██████▀▀▀▀████▀███▀▀▀▀█████ ▐████████████■▄▄▄■██████████▀ ▐██████████████████████████▀ ██████████████████████████▀ ▀███████████████████████▀ ▀███████████████████▀ ▀███████████████▀ | | | | | . ▄ ▄▄▀▀▀▀▄▄ ▄▀▀▄ █ █ ▀▄ █ ▄█▄ ▀▄ █ ▄▀ ▀▄ ▀█▀ ▄▀ ▀█▄▄▄▀▀ ▀ ▄▀ ▄▀ ▄▀
Live Games | | ▄▄▀▀▀▀▀▀▀▄▄ ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄ ▄▀ █ ▄ █ ▄ █ ▀▄ █ █ ▀ ▀ █ █ ▄▄▄ █ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █ █ █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ █▄█ █ ▀▀█ ▀▀█ ▀▀█ █ █▄█
Slots | | . ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▄ █ ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ █ ▄▄ █ █ █ █ █ █ ▄▀▀▄▀▀▄ █ █ █ ▀▄ ▄▀ █ █
Blackjack | | | | █▀▀▀▀▀█▄▄▄ ▀████▄▄ ██████▄ ▄▄▄▄▄▄▄▄█▀ ▀▀█ ████████▄ █ █████████▄ █ ██████████▄ ▄██ █████████▀▀▀█▄▄████ ▀▀███▀▀ ████ █ ███ █ █▀ ▄█████▄▄▄ ▄▄▀▀ ███████▀▀▀ | | | | | | | | | | [ Đ ][ Ł ] AVAILABLE NOW | |
Advertisements are not endorsed by me.
|
|
|
User705 (OP)
Legendary
Offline
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
|
|
October 10, 2013, 06:48:40 PM |
|
Oh and DPR supposedly has 600k more coins. They are fully visible but can't be seized.
This is news to me. They are fully visible? Any source of that information? Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k). I see. I was under the impression that had his wallet files. Wouldn't that mean they have the public addresses or no?
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
|
October 10, 2013, 07:19:22 PM |
|
Nice at least a few more years then.
Are we forgetting about Mt Gox's account that is also locked up by the USG? The more they lock up and would eventually want in their coffer, the longer Bitcoin will stay online. The Gox seizures were a US dollar Wells Fargo account ($2.1 million) and more recently a Dwolla account ($2.9 million), totalling $5 million, held by a subsidary called Mutum Sigillum LLC. Of course, "seizing" fiat digital bank accounts is a misnomer because the funds do not have an objective existence, e.g. like a private key, but are merely database entries that everyone believes have value so they do, until someone sets a flag against the database entry that signifies "seized".
|
|
|
|
Luckybit
|
|
October 11, 2013, 02:30:26 PM |
|
Nice at least a few more years then.
Are we forgetting about Mt Gox's account that is also locked up by the USG? The more they lock up and would eventually want in their coffer, the longer Bitcoin will stay online. The Gox seizures were a US dollar Wells Fargo account ($2.1 million) and more recently a Dwolla account ($2.9 million), totalling $5 million, held by a subsidary called Mutum Sigillum LLC. Of course, "seizing" fiat digital bank accounts is a misnomer because the funds do not have an objective existence, e.g. like a private key, but are merely database entries that everyone believes have value so they do, until someone sets a flag against the database entry that signifies "seized". Just like tainted coins.
|
|
|
|
MicroGuy
Legendary
Offline
Activity: 2506
Merit: 1030
Twitter @realmicroguy
|
|
October 11, 2013, 08:48:27 PM |
|
I wonder what will happen to the coins (aka balances) belonging to people that were using the site for legal purchases?
|
|
|
|
|