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Author Topic: Businesses' plans in the event of a raid.  (Read 2133 times)
SuperP
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March 19, 2012, 09:43:19 PM
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Are exchanges and other large bitcoin businesses prepared for a government raid or even physical robbery?  Much would be lost if Mt. Gox were raided and all the bitcoins they had were in the hands of some government department.  Raids happen unexpectedly and the US government raids first and has the trial later.  The point being that even if you are innocent, you could still be raided.

Ideally, if a business were raided (all the employees were immobilized and the website were shut down), the raiders shouldn't be able to get any bitcoins and users should still have access to their bitcoins.

Offline encrypted cold storage should be able to keep the bitcoins safe from theft.  Will multiple signature addresses allow users access to their coins when the exchange is shut down?

I'm not sure about the specifics of implementation, but are exchanges prepared for this?
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LoupGaroux
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March 19, 2012, 09:59:51 PM
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While the long arm of the US Government of Occupation has remarkable police powers around the planet... I wonder if they could really invade Japan just for the purposes for raiding Mt. Gox?

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March 19, 2012, 10:06:38 PM
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While the long arm of the US Government of Occupation has remarkable police powers around the planet... I wonder if they could really invade Japan just for the purposes for raiding Mt. Gox?
He doesnt specifically mean gox..
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March 19, 2012, 10:11:35 PM
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While the long arm of the US Government of Occupation has remarkable police powers around the planet... I wonder if they could really invade Japan just for the purposes for raiding Mt. Gox?

Don't have to invade they already have ten of thousands of troops left over from WWII still sitting there and I am pretty sure if they decided too they can exert enough pressure to have the Japanese do their dirty work.. To the OP as it stands today if the exchange website is down or inaccessible then you have no access to your coins.

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March 22, 2012, 01:02:41 AM
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While the long arm of the US Government of Occupation has remarkable police powers around the planet... I wonder if they could really invade Japan just for the purposes for raiding Mt. Gox?

You mean like they brutally invaded New Zealand in order to have Kim Dotcom raided?
Oh wait.. they just made some phone calls. 

Yeah.. the long appendages of the US do indeed seem to be able to screw around remotely.. no boots on the ground required.

 


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grue
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March 22, 2012, 01:09:35 AM
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just have most of your coins in encrypted cold storage, with portions of the keys distributed to many people throughout the world.

It is pitch black. You are likely to be eaten by a grue.

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Raoul Duke
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March 22, 2012, 01:17:54 AM
 #7

Don't worry dude. MtGox already told DEA that they would help them in everything they need.
Who cares about raids when you have the DEA covering your ass and using your company for data mining?

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March 22, 2012, 11:05:03 PM
 #8

SilkRoad have possibility to add address in case SR must be shut down and coins sent to owner.

MtGox should not worry about being raided, they already have experienced oral and anal sex with law enforcement agencies of USA.

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Raoul Duke
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March 23, 2012, 12:51:26 AM
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MtGox should not worry about being raided, they already have experienced oral and anal sex with law enforcement agencies of USA.

This, this and this! 1million times this!
I'll only add that they are still experiencing it. Why do you think all these rules about notarized copies of ID's came from? CIA/DEA data mining at it's finest.

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