This is a Golden transaction in the history of Bitcoin

[newIndia]

I wonder how long it will be before your use of the word "golden" become antiquated and irrelevant?

My guess: we are the last generation of humans to use that word in this way.

Possibilities are low. This has become symbolic. Even Bitcoin looks golden, whereas Litecoin looks like silver. We have silver jubilee, golden jubilee etc. So Golden is gonna stay !!!

[Fiftysven]

Am i the only one that is relieved the US Gov doesnt have the coins anymore? And i will be glad when the rest of the 144k is out of their hands 

[ajareselde]

Am i the only one that is relieved the US Gov doesnt have the coins anymore? And i will be glad when the rest of the 144k is out of their hands 

this is something like a double edge blade , on one side you have no more fear of them dumping all at once , hence creating panic,
but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future.

this will definetly be remembered, but i hop in the future we will have even greather meaning transactions. (1st transaction to wall.st anyone ?! )

[Justin00]

They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could.

[newIndia]

They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could.

How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure...

[KawalGrover]

One more reason for me to believe why america is a great nation, greatest nation..

"I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."
-Albert Einstein, My Credo (1932)

"Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship."
-Erich Fromm, in The Sane Society (1955)

Beliathon:

You are one of the most well informed person I have come across on these boards and I sincerely enjoy reading your sources and all the information you provide.

Thanks again!

[cypherdoc]

couldn't agree more OP

[jbreher]

but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future.

Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash.


edit: replace period with question mark

[newIndia]

but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future.

Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash.


edit: replace period with question mark

Why ? Question mark is missing in your keyboard or what ?

[jbreher]

...
edit: replace period with question mark

Why ? Question mark is missing in your keyboard or what ?

Not that is important to this thread. When I initially posted, I wrote a '.', where the '?' should have been. After posting, I realized my mistake. I edited the post to fix it. As per my policy*, the edited post included a description of what edit was made. capiche?

* a policy I wish more would adopt

[Malin Keshar]

USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.

Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins

[SirChiko]

USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.

Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins

But they still haven't as they are selling them themselves in legal auction.

[newIndia]

USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.

Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins

Neither China nor Russia has banned bitcoin. But in a country, which is not so liberal, there will always be caution from the govt to trade. They even make people cautious before trading in stock exchange.

http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139

http://www.coindesk.com/chinas-central-bank-governor-pboc-wont-ban-bitcoin/

[Peter R]

But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them.

He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins.

He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods.

By parity of reasoning, you cannot blame Mao, Stalin or Hitler for genocide. It was just in their nature.

Precisely. Only after you understand someone's nature are you able to properly prepare yourself for whatever it is they may do.

http://en.wikipedia.org/wiki/The_Scorpion_and_the_Frog

[spooderman]

But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them.

He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins.

He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods.

Multi sig multi sig multi sig.

It alarms me how few people know that using this makes your bitcoins so very very much more secure.

[tins]

They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could.

How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure...

Yep, even though a few people were against this auction, it does add a level of stability to Bitcoin. We can now know with certainty that the U.S. will not push any bans on BTC anytime in the near (near=years, at a minimum) future.

[newIndia]

They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could.

How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure...

Yep, even though a few people were against this auction, it does add a level of stability to Bitcoin. We can now know with certainty that the U.S. will not push any bans on BTC anytime in the near (near=years, at a minimum) future.

The problem they can create now is with deep taxation.

[allthingsluxury]

Many people will be looking back wishing they bid higher in that auction.

two years later:

"700 USD were very cheap two years ago, now we have to pay 40.000 USD"     

Definitely a possibility 

[ddink7]

Assholes didn't even pay a transaction fee.

[newIndia]

Assholes didn't even pay a transaction fee.

They have paid in matured coin. So Tx fee was not required. Moreover, the network cant keep such a big Tx outside the public ledger. That would create accountability problem for miners

https://en.bitcoin.it/wiki/Transaction_fees#Sending