Is The U.S. Government Dumping Its Own Bitcoins?

PrivacyG

legendary

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Quote from: DaveF on July 23, 2024, 01:38:02 PM

You really need to stop posting junk like this.
The US government NEVER keeps BTC or anything else form crimes.
It is all sold or auctioned off. Cars, houses, boats, aircraft, BTC, artwork, gold, silver. It all goes.

Even if they did keep Bitcoin and decided to drop a few Billion, is it not News to cheer about? Or is it better in their mind to have the Government owning a big chunk of Bitcoin in only one hand?

I find it curious how some people have a hatred for such News. Bitcoin is moving. It is something to cheer, and not to cry about.

People have Money. What is the difference if some negative News drop off and overall there is a Market Sale of a few Billion Dollars within a day spread across multiple Exchanges and thousands of holders or a single Entity dumping out a few Billion worth of Bitcoin. They always make it seem like Apocalypse is on the way.

C10H15N

legendary

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Quote from: seoincorporation on July 24, 2024, 09:18:11 AM

The U.S. economy works with debt, that's why anyone can get access to credit, is a country where doesn't matter who you are, if you want to get a loan to buy a car or get a loan to buy a house you will get it. And that's how that society works, but it doesn't mean the gov is the only one in debt, the citizens carry a big part of the country's debt too because they all want to drive new cars and it's easy to get in debt for them.

And that economics model will last until the world allows it, if the world and other countries decide that is not a valid model, then they will have to pay that infinite debt.

Debt (leverage) is a double edged sword. When it is used correctly and the cost of the debt (repayment and interest) is covered by increased earnings, then it works as intended.
When you are an imbecilic government or individual who uses debt to pay for what they cannot afford or possibly ever pay back, then you enslave yourself to the lender and ensuring your poverty.

Blindly stating "but that's how everyone does it and that's how it works" is nothing but poor wage slave consumerist platitudes

"The rich shall rule over the poor and the borrower is slave to the lender" - Solomon, son of David, King of Israel.

Those words are a true today as they were three thousand years ago.

Edit! Woah! This post just flipped me to Legendary! 😲😁😎

riantolie

jr. member

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Just like the German government, they had to sell that BTC. But it seems like a lot of people still don't understand that.

kryptqnick

legendary

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Gradual selling of BTC seized by the US authorities from criminals is a normal practice. The total amount is significant enough to cause a major price change if dumped all at once via exchanges. But it doesn't seem to me that this is how the US is dealing with the funds. I'm sure they've been selling for a while and I remember news about some selling events, but I don't remember it having negative impact on the price. That is probably because it is done in small amounts and discreetly. Some of it is also sold via auctions rather than exchanges, which is a separate process that doesn't impact the price, I believe. In any case, it's not a big deal, and I agree with other repliers that it is not new and the US is not investing in BTC.

seoincorporation

legendary

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Quote from: C10H15N on July 24, 2024, 08:21:41 AM

Quote from: larry_vw_1955 on July 23, 2024, 05:52:50 PM

Quote from: C10H15N on July 23, 2024, 04:31:27 PM

The US Government is broke. They need every $$$ they can beg, borrow, or steal.

By definition they can never go broke. All they have to do is print more money. No one knows how much money they are printing either. The only way you can measure that is to look at prices of goods and services. If they keep going up then that means they are printing more money.

The Federal Reserve (technically, outside the government) can print (create) more money that it LOANS to the government in the form of Treasury Bills and Notes - which I buy when the interest rate is high enough.

Those of us in the investment class don't really care about inflation because our earnings will go up with it. As the Federal Reserve fucks with interest rates we can simply pivot from equities to bonds and back to maximize our earnings and protect our assets.
Those on a fixed income (wages, salary, and retirements / pensions) don't have that flexibility and are usually burdened by fixed debt service (loans, credit cards, mortgages) that make it impossible to adjust for inflation.

The U.S. economy works with debt, that's why anyone can get access to credit, is a country where doesn't matter who you are, if you want to get a loan to buy a car or get a loan to buy a house you will get it. And that's how that society works, but it doesn't mean the gov is the only one in debt, the citizens carry a big part of the country's debt too because they all want to drive new cars and it's easy to get in debt for them.

And that economics model will last until the world allows it, if the world and other countries decide that is not a valid model, then they will have to pay that infinite debt.

C10H15N

legendary

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Quote from: larry_vw_1955 on July 23, 2024, 05:52:50 PM

Quote from: C10H15N on July 23, 2024, 04:31:27 PM

The US Government is broke. They need every $$$ they can beg, borrow, or steal.

By definition they can never go broke. All they have to do is print more money. No one knows how much money they are printing either. The only way you can measure that is to look at prices of goods and services. If they keep going up then that means they are printing more money.

The Federal Reserve (technically, outside the government) can print (create) more money that it LOANS to the government in the form of Treasury Bills and Notes - which I buy when the interest rate is high enough.

Those of us in the investment class don't really care about inflation because our earnings will go up with it. As the Federal Reserve fucks with interest rates we can simply pivot from equities to bonds and back to maximize our earnings and protect our assets.
Those on a fixed income (wages, salary, and retirements / pensions) don't have that flexibility and are usually burdened by fixed debt service (loans, credit cards, mortgages) that make it impossible to adjust for inflation.

larry_vw_1955

sr. member

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Quote from: C10H15N on July 23, 2024, 04:31:27 PM

The US Government is broke. They need every $$$ they can beg, borrow, or steal.

By definition they can never go broke. All they have to do is print more money. No one knows how much money they are printing either. The only way you can measure that is to look at prices of goods and services. If they keep going up then that means they are printing more money.

Ojima-ojo

hero member

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Merit: 507

Who cares, about the US government Bitcoin holdings, government is free to auction anything that is in their possession it's not a big deal if the us government transfer their coins to an exchange.

As long as it doesn't affects my own Bitcoin holdings in anyways let them continue to take any steps, and is high time we begin to ignore this kind of news because it not worth it at all.

C10H15N

legendary

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The US Government is broke. They need every $$$ they can beg, borrow, or steal.

It's almost to the point to to where the interest payment on the money they borrow from people like me is almost more than they take in.

Ever-young

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Quote from: odolvlobo on July 23, 2024, 02:49:12 PM

When the U.S. government stops selling seized bitcoins, that will be newsworthy.

which I don't think will ever happen. I don't think the US government has a record of keeping seized assets for long periods of time; they are always of the opinion of disposing of them as they don't have a need for holding them after all, so why then will they stop selling seized bitcoin if there is even anyone left in their holdings?

@Op, it's only those who are interested in looking for what will give them reason to start panic selling that will focus on looking for dumping wallet news to read and broadcast. I see no credit in it, and even if the entire world government wants to sell whatever BTC they hold through a seizure, it might make little to no difference again. The crypto market is changing to how they react to such news this time around.

Zlantann

legendary

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Quote from: ContentWriter on July 23, 2024, 12:11:22 PM

Who knows if they'll start dumping like the German government...

Who cares? If they want they can sell all the seized Bitcoin in their possession, that's their business. The German State of Saxony sold all they had and it had no long-term effect on the price of Bitcoin. Even if the US decides to take the same path, the market will still recover. The last time the US government sold Bitcoin last year it had no impact on the market. This kind of news is designed to create FUD and make weak hands alter their plans. For me, I don't care if the entire nations want to sell off, I am sticking to my plans.

odolvlobo

legendary

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When the U.S. government stops selling seized bitcoins, that will be newsworthy.

348Judah

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US government is not holding on any bitcoin because they are not investing on anything, they rather possess the seized coins from hackers and scammers and they do sell from time to time in form of auction as you have been told before, don't see them as a bitcoin holder or investors, instead, accept the fact that they are anti bitcoin, this is not the first of its kind whereby they will be selling out bitcoin or moving them from one wallet account to another exchange account.

DaveF

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You really need to stop posting junk like this.
The US government NEVER keeps BTC or anything else form crimes.
It is all sold or auctioned off. Cars, houses, boats, aircraft, BTC, artwork, gold, silver. It all goes.

-Dave

ContentWriter

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Data from Arkham Intelligence shows: Today at 1:59 UTC+8, the U.S. Government transferred 58.742 BTC to Coinbase Prime Deposit, the asset is valued at $3.96 million. Arkham Intelligence labelled the wallet. 3B2jEBZi8fJWGEDrh6Pe7hDMaJ6iGfFtaU as "U.S. Government: Ryan Farace Seized Funds" Apparently, these funds are part of the seized bitcoins from dark web, originally from the drug dealer Ryan Farace. The U.S. Department of Justice grabbed a total of 2,933 BTC from the Farace family. Arkham data shows that the U.S. Government holds 213,239 BTC, worth around $14.397 billion. Who knows if they'll start dumping like the German government...

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