Can the U.S. government sell seized bitcoins?

[nahtnam]

Although they have another law for that, if you don't hand over you password when requested by a court, you get more jail time. God help those who are genuinely forgetful!

Whats the difference between 10 years if you give password and say 15 years if you dont ? You will be out in 2/3 of jailtime anyway if your not problematic, so why give your Bitcoins to gov !

Ya especially if you own millions. I would just pass it on to a lawyer since they cant record whats going on between the person and a lawyer.

[BurtW]

They [edit: they = the FBI] already moved them (so they have the keys).  Some are here:

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

The rest are here:

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

So, by moving the coins and consolidating them they have been shown to own them.

This may not be all of them but it is the BTC that the FBI has found so far.

Sir, by the way, who is owner account above?!? 

AFAIK both of the above accounts are owned by the FBI.  In other words the FBI has the private keys to these two accounts.

[masyveonk]

They [edit: they = the FBI] already moved them (so they have the keys).  Some are here:

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

The rest are here:

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

So, by moving the coins and consolidating them they have been shown to own them.

This may not be all of them but it is the BTC that the FBI has found so far.

Sir, by the way, who is owner account above?!? 

AFAIK both of the above accounts are owned by the FBI.  In other words the FBI has the private keys to these two accounts.

FBI should give the private keys to central bank, so US could get Bitcoin reserve for future.
United States pawns everything

[_wayfarer_]

My understanding is that they are required by law to sell seized assets at auction, but it would be interesting if they found a way to keep them for potential future value.  Either way, it will be interesting to see the eventual outcome, whether they offload them or become a speculator 

[Kaligulax]

The problem I see with bitcoins is that, like all fiat money, their value depends on trust. As long as there are safer and/or more convenient alternatives, bitcoins are susceptable to panic selling and counterfeiting.

Bitcoins have no intrinsic value. They can be used for obtaining goods and/or services only as long as the providers will accept them.

I consider bitcoins to be "No-Penny Stocks" and predict that they will be subject to the same abuses as the penny stock market, and with less regulation.

[BurtW]

The problem I see with bitcoins is that ... bitcoins are susceptable to ... counterfeiting.

Explain how.

[jackp]

Yeah the US needs money, so why not!

[nahtnam]

They [edit: they = the FBI] already moved them (so they have the keys).  Some are here:

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

The rest are here:

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

So, by moving the coins and consolidating them they have been shown to own them.

This may not be all of them but it is the BTC that the FBI has found so far.

Sir, by the way, who is owner account above?!? 

AFAIK both of the above accounts are owned by the FBI.  In other words the FBI has the private keys to these two accounts.

FBI should give the private keys to central bank, so US could get Bitcoin reserve for future.
United States pawns everything

Whats funny is that people keep on donating to the addresses, and have a public note with advertisements!

[gsmedia]

Government agencies & financial institutions (at least in some Countries) are not allowed to 'dabble' or deal in bitcoins. Thus the only way they can 'play' the game is to seize.