I don't know, but it seems it's going to be very complex to solve it.
Will he ever release the "secret" to unlock his wallet?
Topic: FBI has to follow bitcoin rules! How long will that last? (Read 3242 times)
He can plead the 5th, to avoid self-incrimination easily.
Or give a passphrase/privkey that unlocks only a chunk of the profits big enough for him to be able to plausibly claim that it's the whole stash.
If the Feds connected that wallet to DPR, can't they just get a court order for the key to his wallet?
This is a joke right?There is probably a legal difference between
- a password to an ecrypted wallet file on your PC
- a private key to an address in the blockchain.
If the Feds connected that wallet to DPR, can't they just get a court order for the key to his wallet?
This is a joke right?
He can plead the 5th, to avoid self-incrimination easily.
If the Feds connected that wallet to DPR, can't they just get a court order for the key to his wallet?
I wonder what will happen to the coins (aka balances) belonging to people that were using the site for legal purchases? 
I wouldn't expect anyone to ever see a (bit)cent. Legal users will just be lumped in with everyone else. A great article by Wired on how the FBI might deal (or not deal) with their seized bitcoins:
http://www.wired.com/wiredenterprise/2013/10/silk-road-bust/
Very interesting problem for them: bitcoin has already been legally declared a form of currency, but they have no government-sanctioned method of dealing with bitcoin currency. I'm guessing it either gets sold at auction or they tear up the private key.
http://www.wired.com/wiredenterprise/2013/10/silk-road-bust/
Very interesting problem for them: bitcoin has already been legally declared a form of currency, but they have no government-sanctioned method of dealing with bitcoin currency. I'm guessing it either gets sold at auction or they tear up the private key.
Quote
An FBI spokesperson quoted by Forbes explained that the amount of Bitcoins already seized was held from Silk Road user accounts, and that the agency has not yet been able to get to Ulbricht’s own encrypted Bitcoin wallet.
“That’s like another $80 million worth,” the spokesperson was quoted as saying.
The agency also appeared to be unsure what to do with the digital money trove once the Silk Road court case is closed.
“This is kind of new to us. We will probably just liquidate them,” the FBI spokesperson said.
http://rt.com/usa/fbi-silk-road-protest-785/
“That’s like another $80 million worth,” the spokesperson was quoted as saying.
The agency also appeared to be unsure what to do with the digital money trove once the Silk Road court case is closed.
“This is kind of new to us. We will probably just liquidate them,” the FBI spokesperson said.
http://rt.com/usa/fbi-silk-road-protest-785/
I wonder what will happen to the coins (aka balances) belonging to people that were using the site for legal purchases?
Nice at least a few more years then.
Are we forgetting about Mt Gox's account that is also locked up by the USG? The more they lock up and would eventually want in their coffer, the longer Bitcoin will stay online.
The Gox seizures were a US dollar Wells Fargo account ($2.1 million) and more recently a Dwolla account ($2.9 million), totalling $5 million, held by a subsidary called Mutum Sigillum LLC. Of course, "seizing" fiat digital bank accounts is a misnomer because the funds do not have an objective existence, e.g. like a private key, but are merely database entries that everyone believes have value so they do, until someone sets a flag against the database entry that signifies "seized".
Just like tainted coins.
Nice at least a few more years then.
Are we forgetting about Mt Gox's account that is also locked up by the USG? The more they lock up and would eventually want in their coffer, the longer Bitcoin will stay online.
The Gox seizures were a US dollar Wells Fargo account ($2.1 million) and more recently a Dwolla account ($2.9 million), totalling $5 million, held by a subsidary called Mutum Sigillum LLC. Of course, "seizing" fiat digital bank accounts is a misnomer because the funds do not have an objective existence, e.g. like a private key, but are merely database entries that everyone believes have value so they do, until someone sets a flag against the database entry that signifies "seized".
Oh and DPR supposedly has 600k more coins. They are fully visible but can't be seized.
This is news to me. They are fully visible? Any source of that information?Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
So I heard that 600K more Bitcoin doesn't belong to DPR, but it belongs to TSR members..
Other way around.
I really wanna see what's going to happen.
Looking fwd to see how this will play out 
there are few scenarious how fby can destabilize btc...
there are few scenarious how fby can destabilize btc... 
So I heard that 600K more Bitcoin doesn't belong to DPR, but it belongs to TSR members..
This is news to me. They are fully visible? Any source of that information?
Yes, page 15 mentions 614,305 BTC in commissions.
Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
Of course it's less, DPR had some expenses to cover after all, and some of those were paid when BTC was worth much less than today.
A great article by Wired on how the FBI might deal (or not deal) with their seized bitcoins:
http://www.wired.com/wiredenterprise/2013/10/silk-road-bust/
Very interesting problem for them: bitcoin has already been legally declared a form of currency, but they have no government-sanctioned method of dealing with bitcoin currency. I'm guessing it either gets sold at auction or they tear up the private key.
http://www.wired.com/wiredenterprise/2013/10/silk-road-bust/
Very interesting problem for them: bitcoin has already been legally declared a form of currency, but they have no government-sanctioned method of dealing with bitcoin currency. I'm guessing it either gets sold at auction or they tear up the private key.
The governement loves money, 0% chance they tear up the private key
This is news to me. They are fully visible? Any source of that information?
Yes, page 15 mentions 614,305 BTC in commissions.
Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
Of course it's less, DPR had some expenses to cover after all, and some of those were paid when BTC was worth much less than today.
Oh and DPR supposedly has 600k more coins. They are fully visible but can't be seized.
This is news to me. They are fully visible? Any source of that information?Afaik the amount in his private pockets isn't known, only estimated (and most likely way less than 600k).
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