the US Government is the 9th Largest BTC Holder, BCH, BSV

[MrSolo]

Hey guys,

What do you guys think of the US Government Owning so much Crypto that it "got for free", those wallets are controlled by DOJ.

BTC: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 ~= $3,755,714,388.06
BCH: qqrkjml7h3ymnc7ydd9m5r9s9hnqectmluwpxezd9a ~= $37,317,659.98
BSV: 1F884r9J2WKbu8wekebqqRcu1Bw1jiRXba ~= $12,932,669.07

And when they auction off these sums do you think the price of BTC will drop a lot or not?
Plus what do you think about how the government can just come in and take your Bitcoins for any reason.

Would love to hear your opinion on this matter.

[stompix]

What do you guys think of the US Government Owning so much Crypto that it "got for free", those wallets are controlled by DOJ.
~
Plus what do you think about how the government can just come in and take your Bitcoins for any reason.

You should really research the story before behind those coins before jumping to conclusions and this is old news anyway.
https://www.courtlistener.com/recap/gov.uscourts.cand.368440/gov.uscourts.cand.368440.1.0.pdf

According to an investigation conducted by the Criminal Investigation Division of the Internal Revenue Service and the U.S. Attorney’s Office for the Northern District of California, Individual X was the individual who moved the cryptocurrency from Silk Road. According to the investigation, Individual X was able to hack into Silk Road and gain unauthorized and illegal access to Silk Road and thereby steal the illicit cryptocurrency from Silk Road and move it into wallets that Individual X controlled. According to the investigation, Ulbricht became aware of Individual X’s online
identity and threatened Individual X for return of the cryptocurrency to Ulbricht. Individual X did not return the cryptocurrency but kept it and did not spend it.

On November 3, 2020, Individual X signed a Consent and Agreement to Forfeiture with the U.S. Attorney’s Office, Northern District of California. In that agreement, Individual X, consented to the forfeiture of the Defendant Property to the United States government

They didn't get it "for free", they actually got it for free!

[Tipstar]

That's a large amount of coins but they are not holding it as an investment. They'd probably auction it off and pay the affected people in USD. This if done at once could even flood the market with tradeable coins.
The government of US won't probably confiscate your coins unless you commit a crime like running an online illegal marketplace like silkroad. But that can't be said true for governments like CCP.

[masterzino]

Hey guys,

What do you guys think of the US Government Owning so much Crypto that it "got for free", those wallets are controlled by DOJ.

BTC: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 ~= $3,755,714,388.06
BCH: qqrkjml7h3ymnc7ydd9m5r9s9hnqectmluwpxezd9a ~= $37,317,659.98
BSV: 1F884r9J2WKbu8wekebqqRcu1Bw1jiRXba ~= $12,932,669.07

And when they auction off these sums do you think the price of BTC will drop a lot or not?
Plus what do you think about how the government can just come in and take your Bitcoins for any reason.

Would love to hear your opinion on this matter.

The U.S. Government is operating on a different scale. These $3.8bn will last around 4 hours of their spending[1].

These are seized coins that sooner or later will go to a public auction.
The price will not drop as DOJ is usually auctioning on a small scale. There were many auctions in the past without moving the price.


--

[1] How much does the federal government spend each day?
https://datalab.usaspending.gov/dts/?start=20210208&end=20210308&frequency=today&category=All%20Categories

[Zionatin]

That's a large amount of coins but they are not holding it as an investment. They'd probably auction it off and pay the affected people in USD. This if done at once could even flood the market with tradeable coins.
The government of US won't probably confiscate your coins unless you commit a crime like running an online illegal marketplace like silkroad. But that can't be said true for governments like CCP.

I am not sure about that. They seem to be holding onto it for a mighty long time. This is worrisome. This whole thing about the dark web and the black markets is just crazy and blown overboard. They talk about it like everyone there is some weirdo. Some of us believe in freedom some of us otal freedom. An open and decentralized market sounds like freedom to me. It sounds like something from star trek or something where everything is legal (Besides A logical person's sound mind when it comes to causing harm to others) Like just because theft might be legal doesn't mean everyone will do it or that there are no consequences.

Then the mainstream media and public got hold of it and twisted it around it still makes me chuckle when I hear them talk about "Online hitman" "Murder for hire" "Red rooms" and other such nonsense that only makes sense in a twisted persons head or a story tellers head like a horror writer.

Most likely the most destructive thing sold there were drugs. Which many believe should be legal anyway. Unless there were people activiely trading in explosives or such things I don't really see the big deal.

In fact fewer people died buying drugs online than offline waiting on some filthy street corner for some strange individual you know you cant trust. Hmmm... But then again happy people don't wait around for drug dealers, right? So maybe it is a psychological problem then? But sure let's blame drugs and act like they the big problem.

BTW what do you mean by "the government will come in and take my bitcoin" How? They will come into my mind?

[stompix]

I am not sure about that. They seem to be holding onto it for a mighty long time. This is worrisome.

It's nothing out of ordinary.
For example, the last batch sold in an auction in 2020:
https://www.usmarshals.gov/assets/2020/febbitcoinauction/
contained coins seized from Alexandre Cazes, in case you don't know who the guy was, we're talking about the founder of Alphabay, who was arrested and then died in jail in Thailand in 2017. So a 3 years waiting period is nothing out of the ordinary. There is a different case listed there that dates from 2016.

BTW what do you mean by "the government will come in and take my bitcoin" How? They will come into my mind?

If they are going to propose to cut your jail term from 30 years to 10 if you let them size your coins I'm pretty sure your mind is going to tell your mount to start talking seeds and passwords. And this if we talk about governments that still play by the book, if we talk about the ones that have no problem helping their citizens to commit suicide all you encryption will break when your first finger bone snaps.

Look what happened to the guy I've mentioned above, how confident will you still be once you know you're a target?