Fork The Blockchain And Block The Seized FBI Coins.

[hyphymikey]

Horrible idea. Millions of coins would be sold due too not trusting the "most trusted system"... This would do more harm than good.

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[Holliday]

Yeah, go ahead and fork Bitcoin and freeze the FBI coins, I'll sell all my coins on the new fork and purchase actual Bitcoins with the proceeds.

I approve.

[Rez]

I believe we, the Community, Miners, and Dev's should use the power again, this time to remove the seized coins as they represent a huge threat.

No. Let's not do that. Yeah, let's pretty much not do that at all.

[electerium]

Forking the blockchain just because the FBI possesses these BTC quite possibly is the worst thing I could think of, to attempt as the legislative landscape for mass adoption remains unclear. The amount of blowback that this would create would be utterly tremendous and would ultimately stifle bitcoin.

Its his fault he was so loose with his identity and storage solutions.

[zeetubes]

"This... money isn't guilty.  If you wen't to the ATM today and withdrew money and someone told you at some point that $20 bill was in the hands of a child molestor who used it to buy kiddie porn,  does that change the $20 bill at all ?  No of course not."

Yes but if I happened upon someone buying kiddie porn, I would happily kick the shit out of that person, and then tear up his money and force it down his throat. And I would walk away without feeling guilt or remorse. I would also wash my hands with a lot of lysol. I wonder if anyone prints out Bitnotes just for the purpose of snorting coke with them?

[BurtW]

Yeah, go ahead and fork Bitcoin and freeze the FBI coins, I'll sell all my coins on the new fork and purchase actual Bitcoins with the proceeds.

I approve.

Shhhhhh.... I was not going to mention this little hole in their plan until they went to all the trouble of creating the anti-FBI-coin-client, getting miners on board, creating exchanges, coming up with a new snazzy name, pumping up the value a bit, etc.  

Now that they realize that every single person that holds coins before their fork can dump their coins at any time you may have just killed their idea and any chance we may have had of killing off their alt while making a small profit.

You let the cat out of the bag as far as all these "let's just fork the chain" threads go.

Darn.  

On the upside maybe we will see less of these types of threads in the future.

[aryer84]

Interesting thought but i think this would work counterproductive to bitcoin's core fundamentals...

[cr1776]

Yeah, go ahead and fork Bitcoin and freeze the FBI coins, I'll sell all my coins on the new fork and purchase actual Bitcoins with the proceeds.

I approve.

Shhhhhh.... I was not going to mention this little hole in their plan until they went to all the trouble of creating the anti-FBI-coin-client, getting miners on board, creating exchanges, coming up with a new snazzy name, pumping up the value a bit, etc.  

Now that they realize that every single person that holds coins before their fork can dump their coins at any time you may have just killed their idea and any chance we may have had of killing off their alt while making a small profit.

You let the cat out of the bag as far as all these "let's just fork the chain" threads go.

Darn.  

On the upside maybe we will see less of these types of threads in the future.

Yeah, right!  And no one will even notice Holliday's plan because they won't read this before suggesting the same blacklist plan again and again and again, so the plan is safe!

[BTCisthefuture]

"This... money isn't guilty.  If you wen't to the ATM today and withdrew money and someone told you at some point that $20 bill was in the hands of a child molestor who used it to buy kiddie porn,  does that change the $20 bill at all ?  No of course not."

Yes but if I happened upon someone buying kiddie porn, I would happily kick the shit out of that person, and then tear up his money and force it down his throat. And I would walk away without feeling guilt or remorse. I would also wash my hands with a lot of lysol. I wonder if anyone prints out Bitnotes just for the purpose of snorting coke with them?

I agree with the beating them up part.... I'd take the money though and use it for something nice for myself.  A reward for beating up a bad guy I guess you could say 

[Interized]

Interesting thought but i think this would work counterproductive to bitcoin's core fundamentals...

Clearly you have NO idea what Bitcoin is about.

Bitcoin is meant to DEPOWER these CORRUPT organizations/businesses/secret services, whatever you want to call them.

[Littleshop]

As a decentralized currency Bitcoin has proven itself to function well with the "If the majority feels a change should be made" then it can, and promptly like with the double spend bug a few years ago that required miners to adopt a new fork. This is an excellent advantage as it can be adaptable but not easily manipulated.

I believe we, the Community, Miners, and Dev's should use the power again, this time to remove the seized coins as they represent a huge threat. Investors all over the world are asking "when are these going to hit the market, and in what way?"

There is not a single advantage that any of us to gain by this situation and should be held to the same standards of a thief or hacker.



    The Fed's stole those coins.

Many of us do not think government seizure is constitutional (or at least the way it is often done in practice).    But then the community seizing the coins goes not only against the core principles of Bitcoin but also against the ethics of being against seizure in the first place!  The community would be then doing it's own seizure.  

Bitcoin should be free of chargebacks, seizures and politics.  

[BawsyBoss]

You should also remember that not everybody approved of what DPR did (me included). But that is more onto the moral perspective.

[TheButterZone]

Rather than blacklist, what about add a sieve for the FBI addresses, so that they can only spend the coins to EFF's donation address or some non-profit that has a track record of suing the U.S. government over its constant infringement of civil liberties?

1) No profit for government 2) No profit for insiders who buy them up cheap, off-market, without any competition 3) Government gets sued even more

They shot themselves in the foot by doing 324 (phonespell for FBI) and centralizing them to only 2 addresses, as opposed to a deterministic wallet of 100s of addresses. 2 are a piece of cake to drop a sieve on.

[BurtW]

Rather than blacklist, what about add a sieve for the FBI addresses, so that they can only spend the coins to EFF's donation address or some non-profit that has a track record of suing the U.S. government over its constant infringement of civil liberties?

1) No profit for government 2) No profit for insiders who buy them up cheap, off-market, without any competition 3) Government gets sued even more

They shot themselves in the foot by doing 324 (phonespell for FBI) and centralizing them to only 2 addresses, as opposed to a deterministic wallet of 100s of addresses. 2 are a piece of cake to drop a sieve on.

Another cute alt coin idea.  Remember they are going to auction them off - not spend them.  So anything you do to blacklist, color, taint, sort, mark these coins will only harm those individuals who buy the coins at auction - not the FBI/GOV.

Again, none of these cute alt ideas are going to happen because nobody is going to go to all the trouble of creating the alt clients and mining software to do it.

[TheButterZone]

Rather than blacklist, what about add a sieve for the FBI addresses, so that they can only spend the coins to EFF's donation address or some non-profit that has a track record of suing the U.S. government over its constant infringement of civil liberties?

1) No profit for government 2) No profit for insiders who buy them up cheap, off-market, without any competition 3) Government gets sued even more

They shot themselves in the foot by doing 324 (phonespell for FBI) and centralizing them to only 2 addresses, as opposed to a deterministic wallet of 100s of addresses. 2 are a piece of cake to drop a sieve on.

Another cute alt coin idea.  Remember they are going to auction them off - not spend them.  So anything you do to blacklist, color, taint, sort, mark these coins will only harm those individuals who buy the coins at auction - not the FBI/GOV.

Again, none of these cute alt ideas are going to happen because nobody is going to go to all the trouble of creating the alt clients and mining software to do it.

They are going to spend the BTC or give the private key to the entity that "wins the auction" that nobody legitimate will have the chance to bid on (explained in #2). Read.

Don't need alt clients, just miners to agree that tyrants and their cronies shouldn't win. All existing clients can attempt to spend the seized BTC, and then it'll never get included in a block* and sent back unless spent to the address of a non-profit to fight tyranny.

*Unless I guess they mine their own? Unclear.

[illpoet]

while i personally would love to see the fbi lose all those coins without making any money i think sending dust transactions with rick astley lyrics embedding in them is a much more effective form of protesting an oppressive and unjust government.

[TheButterZone]

LMFAO. No.

[bitpop]

Op is fbi

[BurtW]

They are going to spend the BTC or give the private key to the entity that "wins the auction" that nobody legitimate will have the chance to bid on (explained in #2). Read.

Don't need alt clients, just miners to agree that tyrants and their cronies shouldn't win. All existing clients can attempt to spend the seized BTC, and then it'll never get included in a block* and sent back unless spent to the address of a non-profit to fight tyranny.

*Unless I guess they mine their own? Unclear.

Anyone will be able to bid on the BTC - even you.  They will be auctioned off at one of the government's existing auction web sites.

You will never get even a small percentage of miners to agree.  Let's look at what happens even if you get let's say 50% to agree to this stupid foolishness:

1) The 50% do not include any transaction that contains any of the coins from the two addresses, the other 50% do.
2) After the auction there are many transactions transferring all the coins from the two know FBI addresses to all the winners, 50% refuse the transactions, 50% still include them.
3) All the coins from the two FBI addresses are now gone, spread out to hundreds or thousands of new addresses.

So, if the filter is just on those two addresses all you have done is:

1) Doubled the confirmation time for the transactions right after the auction
2) Cut the income for all the miners that agree with you.

Once the coins are all transferred to the new addresses what are you going to do then?  As the coins mix with other coins what are you going to do then?

Even if you get 66% of miners to agree, you will only triple the confirmation time of the transfers to the auction winners.

[Kungfucheez]

Does the DEA just burn money when it seizes it in a raid? No, so shut up. If you don't want the government to seize your assets then don't do incredibly illegal things. Simple. If you get caught, then that's your own damn fault and I have no sympathy for you.