Topic: $25,000 in Bitcoin Seized from Alleged Software Scam Operator (Read 2663 times)

So at what price do the government sell their coins? don't they just jump at whatever market price of that particular time?

The auction might be less publicized, but it could attract a lot more bids.
The high lot size in the SR bitcoin auctions is one reason why the number of bids is limited.

So how much is really paid at the auctions?
...and to whom?
Can you cut an extra slice?

Exactly, they will sell them as always via auction. This time it is not a large quantity of coin, but it is always "money" (25k dollars).

They will probably sell them in a similar way that the Silk Road bitcoin was sold, via auction

edit: I would think you would probably get a better deal on these auctions because they are less publicized

so far govt forces have stolen property from a guy, without a court ruling 

at the same time I do not understand what counterfeit software is. HUH??

I just wonder what will happen with that cryptos? Police is going to use it somehow? You can't just put back bitcoin into circulation... Any thoughts?

I wonder when that rolex will come up in auction.

They are thinking that FIAT value are more secure and "positive" than bitcoin, but I think a lot of people wrong. It is obviously the mass-media aren't helping (not all but the but the 70-80%) the bitcoin "image".

To be honest I think the swings up and down do more damage than some criminals being seized

But you're forgetting that's not how the fickle public work. They believe the media propaganda and associate bitcoin more with bad things than positive. It's unfortunate but it's just the way it is.

The scammer had most of his money stored in cash and gold. 105 BTC and 900 LTC is nothing.

Nah, don't think this is going to tip the scales. It's a form of money, like the USD. Nobody is leaving the USD when a Colombian druglord is arrested with heaps of cash laying around

More bad press for Bitcoin, undeserved bad press as always, but still better than nothing i guess.

Hmm... it's likely only a matter of time before someone from this forum gets investigated or prosecuted because of this sort of piracy.


There's nothing we can do about them sort of people. How much fiat money is taken in software scams?

Now this is one statement that I don't like to hear. It might give wrong perception to people especially people who are new to bitcoin.

This is so good. Did you notice the indictment document? It is the USA against the property. No human is listed. Why not? Is there a separate indictment somewhere else against the man?

I'm not going to look into details of the case, but, what if the USA doesn't really have a case against the man who did all the bad stuff? What if the guy is a crook, but there is no actual harm or damage anyone will come forward and say that he did to them?

The point is this. If he is a crook, but if nobody comes against him personally in court, he should be able, as a man, to require his property returned to him.

Is the USA a man who has interest in his property? Is the USA a man who can get on the stand and speak the interest that they have into the record? Probably not.

The guy is a crook. But if he knows his common law, and how to force the courts into a direct, man to man, court of record, and if no human being gets up to speak a claim against him, he should be able to get "his" property returned to him. It is the kind of law-land we live in.

Where would the justice be in something like this if it happened that way? The justice would be that the USA as a government is continually throwing all kinds of Americans into prison for little or nothing. Many of these are innocent of any crime whatsoever, or guilty of some petty "crime" like smoking a joint - that really isn't any crime at all. This USA action is making the police bolder so that they often act harmfully towards the general populace - police brutality in the extreme - often including murder.

Something like this guy getting his property back would start to take the power away from the USA as a police government. It would start to get the people into the habit of acting personally, man to man, against crooks who rob them, rather than acting as corporations. It would be a step towards stopping the USA from harming all kinds of folks with all the thousands of goofy laws that government has on the books, that are really methods to take away the freedom of the people.

If this guy won a common law, man-to-man suit against the U.S. government, it would start to bring freedom back to America.

A reason for that is the support they receive from high ranking Chinese officials. The Chinese government don't want foreign software firms to profit from software sales within China. So tactically, they encourage counterfeiting.

Lol before even reading the full article, I already knew the culprit was chinese.  They thrive on counterfeiting sales.

This looks likes someone getting caught for selling software keys for bitcoin.
We have quite a few of these sellers here