Bitcoin Forum
June 23, 2024, 10:00:30 PM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: « 1 [2] 3 4 »  All
  Print  
Author Topic: U.S. announces forfeiture of $28 million of bitcoins belonging to Silk Road  (Read 4363 times)
Bitcoinpro
Legendary
*
Offline Offline

Activity: 1344
Merit: 1000



View Profile
January 16, 2014, 11:47:43 PM
 #21

I'd say DPR has heard about Dogecoin now and has struck a deal with the justice department to unload the whole lot and buy Dogecoin with it,

so much for the FBI and their Silkroad honey pot, they should have left it running to get all the Doge too  Cheesy


WWW.FACEBOOK.COM

CRYPTOCURRENCY CENTRAL BANK

LTC: LP7bcFENVL9vdmUVea1M6FMyjSmUfsMVYf
ak84
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
January 16, 2014, 11:52:30 PM
 #22

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they  know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?


▬▬▬▬▬▬▬▬▬ Edutainment.Tech ▬▬▬▬▬▬▬▬▬
Double ICO: Games for smart and games for business
SmartGames    ◼ CorpEdu
EvilPanda
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


Small Red and Bad


View Profile
January 17, 2014, 12:16:11 AM
 #23

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they  know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?


He probably gave it to them for reduced charges. And what will they do with it? Simple - auction it or sell to some rich investor, which means they will not sell it on an exchange. And NO it will not cause a crash because someone investing milions in BTC doesn't do it just to dump all immediately.

Kungfucheez
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
January 17, 2014, 12:21:03 AM
 #24

No offense, but

Didn't we hear about this happening last year?
crazy_rabbit
Legendary
*
Offline Offline

Activity: 1204
Merit: 1001


RUM AND CARROTS: A PIRATE LIFE FOR ME


View Profile
January 17, 2014, 12:27:39 AM
 #25

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they  know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?


He probably gave it to them for reduced charges. And what will they do with it? Simple - auction it or sell to some rich investor, which means they will not sell it on an exchange. And NO it will not cause a crash because someone investing milions in BTC doesn't do it just to dump all immediately.

I doubt that. My bet is that the government is going to KEEP those bitcoins for the future. They know they are potentially too valuable to sell. They could be worth billions one day and I think they know it's possible. The government won't be selling these coins, I think they are going to keep them forever. Think of it- there's virtually no other way to get this many bitcoins anymore. The USA is now one of the top bitcoin holders! Welcome to our new partner. :-)

more or less retired.
ArticMine
Legendary
*
Offline Offline

Activity: 2282
Merit: 1050


Monero Core Team


View Profile
January 17, 2014, 12:30:55 AM
 #26

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they  know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?


He probably gave it to them for reduced charges. And what will they do with it? Simple - auction it or sell to some rich investor, which means they will not sell it on an exchange. And NO it will not cause a crash because someone investing milions in BTC doesn't do it just to dump all immediately.

I doubt that. My bet is that the government is going to KEEP those bitcoins for the future. They know they are potentially too valuable to sell. They could be worth billions one day and I think they know it's possible. The government won't be selling these coins, I think they are going to keep them forever. Think of it- there's virtually no other way to get this many bitcoins anymore. The USA is now one of the top bitcoin holders! Welcome to our new partner. :-)

So they will store the private key(s) in Fort Knox?

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
williamj2543
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500

Get ready for PrimeDice Sig Campaign!


View Profile WWW
January 17, 2014, 12:33:24 AM
 #27

I cant even believe this bullshit. Yes I know this news is old, but this is ridiculous. The coins should be paid either to charity, or back to the Silk Road customers. Those bitcoins probably came out of their work paycheck. Who cares what they are going to spend it on, it's still money. Pretty much the government is stealing innocent people's bitcoins and not giving it back. How would you like the feds randomly coming into your house, stealing all your money from your wallet, and just leaving. I can't believe the stupidity of this world we live in.

█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
▓▓▓▓▓  BIT-X.comvvvvvvvvvvvvvvi
→ CREATE ACCOUNT 
▓▓▓▓▓
█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
benjamindees
Legendary
*
Offline Offline

Activity: 1330
Merit: 1000


View Profile
January 17, 2014, 12:41:11 AM
 #28

How would you like the feds randomly coming into your house, stealing all your money from your wallet, and just leaving.

Cash "facilitates money laundering".

Civil Liberty Through Complex Mathematics
ProfMac
Legendary
*
Offline Offline

Activity: 1246
Merit: 1001



View Profile
January 17, 2014, 12:46:52 AM
 #29

There might be a marketplace to sell only marijuana and only in the states where it is legal.


I try to be respectful and informed.
dopey
Hero Member
*****
Offline Offline

Activity: 1008
Merit: 514



View Profile
January 17, 2014, 12:47:37 AM
 #30

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

 

My only argument would be to invest the money into creating infrasturcture for underdeveloped causes vs simply giving to charity.

Teach a man to fish.......
tozak
Member
**
Offline Offline

Activity: 103
Merit: 10


View Profile
January 17, 2014, 12:58:25 AM
 #31

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they  know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?


He probably gave it to them for reduced charges. And what will they do with it? Simple - auction it or sell to some rich investor, which means they will not sell it on an exchange. And NO it will not cause a crash because someone investing milions in BTC doesn't do it just to dump all immediately.

I doubt that. My bet is that the government is going to KEEP those bitcoins for the future. They know they are potentially too valuable to sell. They could be worth billions one day and I think they know it's possible. The government won't be selling these coins, I think they are going to keep them forever. Think of it- there's virtually no other way to get this many bitcoins anymore. The USA is now one of the top bitcoin holders! Welcome to our new partner. :-)

They will sell them but they will sell them to themselves, i.e. one government department with no interest in Bitcoin will sell it to another government department that would otherwise be buying Bitcoin on the open market for one of their projects / operations.

TDB
Newbie
*
Offline Offline

Activity: 16
Merit: 0


View Profile
January 17, 2014, 01:59:01 AM
 #32

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they  know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?


He probably gave it to them for reduced charges. And what will they do with it? Simple - auction it or sell to some rich investor, which means they will not sell it on an exchange. And NO it will not cause a crash because someone investing milions in BTC doesn't do it just to dump all immediately.

I doubt that. My bet is that the government is going to KEEP those bitcoins for the future. They know they are potentially too valuable to sell. They could be worth billions one day and I think they know it's possible. The government won't be selling these coins, I think they are going to keep them forever. Think of it- there's virtually no other way to get this many bitcoins anymore. The USA is now one of the top bitcoin holders! Welcome to our new partner. :-)

So they will store the private key(s) in Fort Knox?
A judge ordered them to be sold.
Bobsurplus
Legendary
*
Offline Offline

Activity: 1008
Merit: 1000


Making money since I was in the womb! @emc2whale


View Profile
January 17, 2014, 02:45:08 AM
 #33

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

 

My only argument would be to invest the money into creating infrasturcture for underdeveloped causes vs simply giving to charity.

Teach a man to fish.......


Good point!
guybrushthreepwood
Legendary
*
Offline Offline

Activity: 1232
Merit: 1195



View Profile
January 17, 2014, 09:59:36 AM
 #34

Yes I know this news is old, but this is ridiculous. The coins should be paid either to charity, or back to the Silk Road customers. T

Lol, like the USG are gonna give drug money back to the people it belonged to. That's not how they work.
TheButterZone
Legendary
*
Offline Offline

Activity: 3010
Merit: 1031


RIP Mommy


View Profile WWW
January 17, 2014, 10:29:50 AM
 #35

Yes I know this news is old, but this is ridiculous. The coins should be paid either to charity, or back to the Silk Road customers. T

Lol, like the USG are gonna give drug money back to the people it belonged to. That's not how they work.

They don't discriminate. Victimful crime money, victimless crime money, not a crime at all money, they take it all by force, and it's never, EVER, enough.

http://www.forbes.com/sites/kashmirhill/2014/01/16/the-feds-are-ready-to-sell-the-silk-road-bitcoin-kind-of/
“Any Silk Road users who had legitimate holdings on the site are out of luck.”

No wonder why anarchy is preferable to the chaos all governments administer, waving their magic wand and labeling 100% non-criminal transactions/funds thereof, “money laundering”.

How many innocents did the government rob blind this time?

Saying that you don't trust someone because of their behavior is completely valid.
techstorm2
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
January 17, 2014, 11:09:33 AM
 #36

Are they going to use locabitcoins to sell for cash$ on street corners?

 Grin

Dime 7Q3cZtyJemmE8pJsrYgX24mHnkqZX6M6hP
BTC 18vbvovBeM5ZTZqR5ZWAy75EXE7qTNipuo
Mooncoin 2QgyivUMa7Zun6oPdxeE1yry1aNp5hqrDb
LTC Lg3UYGCAe3Tb146PiMqeGNLR7bnjdM447d
Doge DPd1XejW8TabJu5gfjyKnuQYQ9Vzw1anXN
ProfMac
Legendary
*
Offline Offline

Activity: 1246
Merit: 1001



View Profile
January 17, 2014, 12:54:45 PM
 #37

Yes I know this news is old, but this is ridiculous. The coins should be paid either to charity, or back to the Silk Road customers. T

Lol, like the USG are gonna give drug money back to the people it belonged to. That's not how they work.

They don't discriminate. Victimful crime money, victimless crime money, not a crime at all money, they take it all by force, and it's never, EVER, enough.

http://www.forbes.com/sites/kashmirhill/2014/01/16/the-feds-are-ready-to-sell-the-silk-road-bitcoin-kind-of/
“Any Silk Road users who had legitimate holdings on the site are out of luck.”

No wonder why anarchy is preferable to the chaos all governments administer, waving their magic wand and labeling 100% non-criminal transactions/funds thereof, “money laundering”.

How many innocents did the government rob blind this time?

What activities on Silk Road are not breaking some US law?

I try to be respectful and informed.
bitpop
Legendary
*
Offline Offline

Activity: 2912
Merit: 1060



View Profile WWW
January 17, 2014, 12:58:09 PM
 #38

This is very good news. The government selling them legitimizes them and they can no longer make them illegal. Oh hey, thanks for the money, now what you just bought is illegal.

bitpop
Legendary
*
Offline Offline

Activity: 2912
Merit: 1060



View Profile WWW
January 17, 2014, 12:58:47 PM
 #39

Yes I know this news is old, but this is ridiculous. The coins should be paid either to charity, or back to the Silk Road customers. T

Lol, like the USG are gonna give drug money back to the people it belonged to. That's not how they work.

They don't discriminate. Victimful crime money, victimless crime money, not a crime at all money, they take it all by force, and it's never, EVER, enough.

http://www.forbes.com/sites/kashmirhill/2014/01/16/the-feds-are-ready-to-sell-the-silk-road-bitcoin-kind-of/
“Any Silk Road users who had legitimate holdings on the site are out of luck.”

No wonder why anarchy is preferable to the chaos all governments administer, waving their magic wand and labeling 100% non-criminal transactions/funds thereof, “money laundering”.

How many innocents did the government rob blind this time?

What activities on Silk Road are not breaking some US law?


They sold legitimate virtual machines on usb.

guybrushthreepwood
Legendary
*
Offline Offline

Activity: 1232
Merit: 1195



View Profile
January 17, 2014, 12:59:27 PM
 #40

Yes I know this news is old, but this is ridiculous. The coins should be paid either to charity, or back to the Silk Road customers. T

Lol, like the USG are gonna give drug money back to the people it belonged to. That's not how they work.

They don't discriminate. Victimful crime money, victimless crime money, not a crime at all money, they take it all by force, and it's never, EVER, enough.

http://www.forbes.com/sites/kashmirhill/2014/01/16/the-feds-are-ready-to-sell-the-silk-road-bitcoin-kind-of/
“Any Silk Road users who had legitimate holdings on the site are out of luck.”

No wonder why anarchy is preferable to the chaos all governments administer, waving their magic wand and labeling 100% non-criminal transactions/funds thereof, “money laundering”.

How many innocents did the government rob blind this time?

What activities on Silk Road are not breaking some US law?


Maybe the people who were selling alpaca socks? There are always a few supplies selling legitimate items on these marketplaces, but of course the USG don't care about that.
Pages: « 1 [2] 3 4 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!