[Here we go again] French Officials Seize $272,800 From Illegal Bitcoin Exchange

[silentgwad]

For the first time in European history, the French Police arrested three individuals suspected to run an illegal Bitcoin exchange. This marks the first bitcoins obtained by the French Government.
[...]
Besides the seizure of wallets containing 388 bitcoins,  €180,000 worth at current prices, at the end of the search the police was able to seize nearly €9000 in cash and multiple credit cards and hardware, the content of which remain to be determined by investigators.

http://www.cryptocoinsnews.com/news/france-confiscates-first-bitcoins-from-arrested-illegal-bitcoin-exchange-operators/2014/07/07

[bluemeanie1]

already posted: https://bitcointalk.org/index.php?topic=680830

[silentgwad]

Well, the article on CCN is way more informative and accurate (9000€ a unit, wtf?) than MSN's one on the topic you linked , actually.

[Meuh6879]

9000 Euros in cash (in the pocket) and 388 BTC ... landry system with casino/poker background.

[Beliathon]

I see the nation state is still using violence / "force" to get what they want. Big surprise there.  

Bitcoin offers an alternative possibility - a world governed by reason, rather than Men in Uniforms with Guns and other tools of domination and murder.

[silentgwad]

9000 Euros in cash (in the pocket) and 388 BTC ... landry system with casino/poker background.

Look at the topic linked above.

[Ron~Popeil]

I see the nation state is still using violence / "force" to get what they want. Big surprise there.  

Bitcoin offers an alternative possibility - a world governed by reason, rather than Men in Uniforms with Guns and other tools of domination and murder.

That's why we need to prepare ourselves for the very likely possibility of strong resistance to bit coin from governments. The suggestion that it supports terrorism and organized crime is just the beginning.

[Mieehayii]

Does France hava a Bitcoin legal right? How operators considered legal?

[silentgwad]

Does France hava a Bitcoin legal right? How operators considered legal?

Well, actually, you have to register with the ACPR, as explained in the article , in order to operate.
The ACPR will then give you some guidelines regarding KYC/AML , which should be strictly applied (just like Bitcoin-Central is actually doing)

[ljudotina]

388 BTC ?!!! What will happen if they decide to sell it?! Price will go down! God help us!! French are planning to destroy BTC!! Oh wait...sorry....my bad.

[silentgwad]

388 BTC ?!!! What will happen if they decide to sell it?! Price will go down! God help us!! French are planning to destroy BTC!! Oh wait...sorry....my bad.

Well, people who where left on the road during the previous Silk Road offer will find here another way to acquire cheap seized bitcoins.
I wonder what the world would look like if each time the cops seized drugs, they 'd put it on an auction sale  

[fryarminer]

HAHAHA!!! They saw how well the US made out selling seized coin, and now they want to pay their national debt that way too!

[silentgwad]

HAHAHA!!! They saw how well the US made out selling seized coin, and now they want to pay their national debt that way too!

True story mate 
Why taxing citizens when you can just seize coins ?

You size drugs? Drugs cartels start killing and kidnapping people.
You size bitcoins? Well, people get mad on bitcointalks and...that's all

[#yolo]

Can't resist saying this is so FBI - USA like kinda thing. the ones caught would sure be like "What?!! How did the FBI get here??". Apparently all the world is following the course of regulation.

[Divinespark]

God knows the French state can use the money given the general deficit situation currently

[silentgwad]

God knows the French state can use the money given the general deficit situation currently

Every state in the world would try seizing bitcoin, if this is purely deficit-driven 

[Beliathon]

Human beings are taught in kindergarten: violence and aggression are wrong and immoral.

Nation states actions today display the opposite perspective. They seem to believe that the fundamental right of sovereignty is violence - might makes right is okay if you're a nation.

This fundamental contradiction must end, before it ends the world via World War 3.

[silentgwad]

Human beings are taught in kindergarten: violence and aggression are wrong and immoral.
This fundamental contradiction must end, before it ends the world via World War 3.

Damn 

[Ron~Popeil]

God knows the French state can use the money given the general deficit situation currently

Every state in the world would try seizing bitcoin, if this is purely deficit-driven 

In order to do it they would have to seize small amounts over time. A huge all out grab would drop the price and they would end up spending more to steal them than they would get by selling them. Once again a free market protects itself. 

[silentgwad]

God knows the French state can use the money given the general deficit situation currently

Every state in the world would try seizing bitcoin, if this is purely deficit-driven 

In order to do it they would have to seize small amounts over time. A huge all out grab would drop the price and they would end up spending more to steal them than they would get by selling them. Once again a free market protects itself. 

Are you really sure about it? According to coinmarketcap, the volume exchanged for the last 24 hours is $ 10,021,000    
So, this if far big enough to allow you to sell lets said 100K a day in different exchanges without being noticed and therefore, without dropping down the price..
100K a day, good rythm to cut off the deficit