Can we all write to FBI asking not to sell bitcoins but hodl them?

[CaptainBeck]

We need some land first, maybe we could take it with force from someone else because they are lesser than us.

 Yeah and well want it to be someplace warm with a nice view.

Yeah, maybe with lots of good natural resources and plenty of space to grow. Then once we are big enough we can tell others what to do outside our own country.

[xhomerx10]

A little literature has appeared on blockchain.info, a derivation of Francisco d'Anconia's money speech from Atlas Shrugged to be precise.

Compared to the usual drivel left in public notes, I have to say I found this quite enlightening.  Thought it's worth a share.

https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

 It's interesting but also as wrong-headed as Ayn's original diatribe.  Money has never been considered evil, it was the LOVE of MONEY that was and is the root of all evil.  I read Atlas Shrugged but it put me off reading for a long time.  Thanks Ayn!

[feina24h]

Its a good thing that they are selling, once sold there will be no pressure of these coins on market anymore.

[boumalo]

how many BTC does the FBI actually hold? So much to being private.

New location of their big stash, the coins claimed by DPR and not being auctioned off (yet):

https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

144,341.53249133 BTC (and growing due to small "donations" every day)

New location of the little stash, the coins that are going to be auction off:

https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55

29,658.80070152 BTC (and growing due to small "donations" every day)

In case you are wondering the old location of the two stashes:

https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

Which are still also growing due to people sending BTC to them in order to advertise (mostly beg for BTC).

They also keep seizing bitcoins once in a while

You know what the US gov can also do with the coins once sold? Track them for a long time. The bidder does not truly buy "clean" coins.

This could be an experiment for them to learn how successful they can be at following these sold coins.

Oh, no!

Surely the federal police of the Land of The Free And Home of The Brave would never do anything like that?

The buyers will be identified and are probably not criminals, if they want to anonymize their bitcoins they can use tumblers or third party websites

[xhomerx10]

We need some land first, maybe we could take it with force from someone else because they are lesser than us.

 Yeah and well want it to be someplace warm with a nice view.

Yeah, maybe with lots of good natural resources and plenty of space to grow. Then once we are big enough we can tell others what to do outside our own country.

 Ideally, we could pretend we are exploring for our respective countries.  We can bring with us all of our disease, prejudices and laws just to get started when we find the right place.  We can even get our standing armies to help clear a place for us and once the money starts rolling in, we tell them - "Hey, we've had enough of you and your system of taxation!" and well declare independence.  Then, we'll tax the heck out of our population of investors... oh wait, if they get wind of that, they'll never invest!

[grimphantom]

 Then, we'll tax the heck out of our population of investors,
every country in the world taxes the hell out of us anyways so whats the difference 

[CaptainBeck]

We need some land first, maybe we could take it with force from someone else because they are lesser than us.

 Yeah and well want it to be someplace warm with a nice view.

Yeah, maybe with lots of good natural resources and plenty of space to grow. Then once we are big enough we can tell others what to do outside our own country.

 Ideally, we could pretend we are exploring for our respective countries.  We can bring with us all of our disease, prejudices and laws just to get started when we find the right place.  We can even get our standing armies to help clear a place for us and once the money starts rolling in, we tell them - "Hey, we've had enough of you and your system of taxation!" and well declare independence.  Then, we'll tax the heck out of our population of investors... oh wait, if they get wind of that, they'll never invest!

We will just have to keep it on the downlow right now, but then we go all power hungry on them.  

[Harley997]

I don't know if anyone here mentioned this but the FBI are not selling any BTC, its us US Marshalls! Huge difference if anyone here is really planning on sending an email anywhere!

It really doesn't matter either way.

They are required to do what they are doing by law.

[cuddaloreappu]

you seriously believe some high ranking officials from DOJ , FBI , US marshalls have not invested in bitcoins?

because if they really did, we can be atleast sure they wont do much harm

[commandrix]

Well, I don't know about the FBI, but I'm pretty sure that most police departments are actually legally required to hold public auctions to sell seized property. So emailing them with a request not to sell would do absolutely no good.

[boumalo]

you seriously believe some high ranking officials from DOJ , FBI , US marshalls have not invested in bitcoins?

because if they really did, we can be atleast sure they wont do much harm

High ranking officials DOJ FBI US marshalls don't have all the power

Politicians are invested in Bitcoin

[BittBurger]

yeah they too can hodl them and benefit if bitcoin goes to moon!..
no point in selling now...they too can add wealth to FBI..

maybe buy some FBI gadgets using bitcoins.

I haven't read any other responses here, but here's mine:   Hell to the No.

You really want the US Government to be one of the biggest holders of Bitcoin?

LOL!!!   Insanity.

-B-

[BTCisthefuture]

We could. But they wont listen.  They've decided to auction them off and that's what will happen.

Law enforcement isnt in the business of holding onto seized assets even if they may go up in value of time. They aren't an investment firm. It's the norm to sell off seized items and it's not going to change.

[TEDmachine]

It fills my heart with joy seeing people being hilarious with the FBI wallet.

[ajareselde]

yeah they too can hodl them and benefit if bitcoin goes to moon!..
no point in selling now...they too can add wealth to FBI..

maybe buy some FBI gadgets using bitcoins.

not sure if trolling or ..
anyways; they have no licence that would allow them to trade seized assets. From that, auctioning them in bulk seams like a logical solution, whether they would get more money trading it , or not.
also, keep in mind that they paid 0 $ for them, so, from that, their profit is 100%

As Ferengi rules of aquisition states : "Anything stolen is pure profit"
ok, they didnt steal,they seized, but whats the difference anyway

[boumalo]

We could. But they wont listen.  They've decided to auction them off and that's what will happen.

Law enforcement isnt in the business of holding onto seized assets even if they may go up in value of time. They aren't an investment firm. It's the norm to sell off seized items and it's not going to change.

To be honest, without considering if they should seize or not, it seems pretty understandable that they don't speculate and hold the assets

[LostDutchman]

Many of you people live in a dream world and do not understand the law.

[keithers]

IMO its better for them to sell them and get it over with. We don't want them to have any control over the market, and a holding of that size has the ability to move the market whenever they choose to do so

[commandrix]

Many of you people live in a dream world and do not understand the law.

You are certainly welcome to try and educate the Bitcointalk members who don't know that law enforcement is legally required to sell seized assets including Bitcoin.

[franky1]

Many of you people live in a dream world and do not understand the law.

You are certainly welcome to try and educate the Bitcointalk members who don't know that law enforcement is legally required to sell seized assets including Bitcoin.

Pretty cool...

http://www.bloomberg.com/video/is-the-government-sanctioning-bitcoin-with-auction-fHjpuE_uQcqc9K88fQaR6g.html

"When a drug dealer's assets are seized, they sell the Ferrari they don't sell the coke to the public."

"They're not going to turn around and sell you a bunch of weed even, which is legal in I guess most states now..."

"Ok, so basically is this is this sort of sanctioning bitcoin?"

"Yes, I mean in a way the government is saying that this is a legal asset."

you can spot a drug user/dealer because they want the seized bitcoins deleted as some form of "stick it to the man"

you can spot a true bitcoiner when they say
'dont ruin bitcoins frangibility by changing the code, leave it as is and stop crying like babies'
'if the government sell the coins then they are saying that bitcoins are a legal asset that can be used'

all those sticking it to the man are just shooting yourself in the foot.