Should miners collude to steal funds from wallet confiscated by US government? - page 7.

Rassah

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Quote from: Oldgamer on October 07, 2013, 01:58:12 PM

Quote from: ?? on ??

Quote from: Oldgamer on October 07, 2013, 11:05:33 AM

At first, who said that money is still there?

The block chain?

lol
money in a wallet, not chain
lol
And also, good luck to get money back if it is already converted
lol

Uh... wait... are you saying that money is currently being stored in a bitcoin wallet, and not in a bitcoin blockchain? Tongue

Aseras

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I'd support making it impossible for the coins to ever be spent from that address.

Oldgamer

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Quote from: ?? on ??

Quote from: Oldgamer on October 07, 2013, 11:05:33 AM

At first, who said that money is still there?

The block chain?

lol
money in a wallet, not chain
lol
And also, good luck to get money back if it is already converted
lol

bernard75

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Quote from: Rassah on October 07, 2013, 12:34:55 PM

I think you may be giving the FBI too much credit. They may just have downloaded Bitcoin-QT, didn't bother to password protect it, and stored the coins there. Or just opened a Blockchain.info wallet account. I somehow doubt they know or understand offline wallets and paper backups and such.
Then again, maybe I just have a very low opinion of the FBI.

I think you are still giving them too much credit. They took the encrypted harddrives and now they try to figure out what to hell is on them. Provided the NSA gave them some processing power to even open those. Wink

vpitcher07

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If you want to completely destroy the credibility of bitcoin and all the progress it has made to be widely accepted then go ahead and try the 51% attack. Just let me know when you're doing it so i can sell....

stupid idea is stupid

Rassah

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Quote from: Buffer Overflow on October 07, 2013, 11:26:16 AM

Quote from: Rassah on October 07, 2013, 11:20:25 AM

I think the coins should be stolen, but that it should be done using the good'ol method of simply stealing the private keys for that wallet. That may involve some more difficult work of actually hacking FBI's computers to find out where their keys are stored at. Miners and futzing with the blockchain should definitely be left out of it.

You can be sure the key is stored offline.

I think you may be giving the FBI too much credit. They may just have downloaded Bitcoin-QT, didn't bother to password protect it, and stored the coins there. Or just opened a Blockchain.info wallet account. I somehow doubt they know or understand offline wallets and paper backups and such.
Then again, maybe I just have a very low opinion of the FBI.

kik1977

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Wherever I may roam

Please excuse me for posting again, but this is too funny:

“The FBI has not been able to get to Ulbricht’s personal Bitcoin yet,” wrote Hill. An FBI spokesperson said to Hill that the “$80m worth” that Ulbricht had “was held separately and is encrypted”. At current exchange rates, that represents slightly more than 5% of all bitcoins in circulation.

Even if the FBI is not able to transfer the money, merely having possession of the wallet file itself is enough to prevent the coins being spent. The Bureau is in a position equivalent to having seized a safe belonging to a suspect with no idea of the combination – and no hope of forcing it open any other way.

(http://www.theguardian.com/technology/2013/oct/07/fbi-bitcoin-silk-road-ross-ulbricht)

Ok, that's right, if they have possession of the wallet, this will prevent anyone who has the private key to spend them... Roll Eyes

kik1977

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Quote from: kibblesnbits on October 07, 2013, 11:21:39 AM

It will be interesting to see what happens to the seized BTC, not only from the SR wallets, but also from the 80 million dollar whopper that DPR had. Would confiscated BTC be viewed as a forfeited property that could be resold, like a drug dealers car? Or would BTC viewed as a contraband substance, like the drugs themselves? If the former, then the Feds could dump a metric shit-ton of coins for sale, possibly crashing the market. If the latter, then roughly 5% of all BTC in existence are permanently off-limits. Good for us, this scenario, as BTC would get more rare.

Another scenario - DPR goes to his grave never giving the password and the wallet.dat stays locked for eternity.

http://www.forbes.com/sites/kashmirhill/2013/10/04/fbi-silk-road-bitcoin-seizure/

The FBI initially seized over 26,000 Bitcoins. I asked the FBI spokesperson what the plan is for those cryptocoins. “We will download the Bitcoin and store them,” she said. “We will hold them until the judicial process is over.”

Then what?

“This is kind of new to us,” she said. “We will probably just liquidate them.”

coastermonger

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Find me at Bitrated

Bitcoin is just a tool, and a damn good one.

The minute you start using political means to single out addresses that don't agree with your ideology it becomes compromised.
Take whatever action you want, but leave the protocol alone. If it were changed to allow the masses to subjectively snipe an address I would immediately cash out.

Buffer Overflow

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Quote from: Rassah on October 07, 2013, 11:20:25 AM

I think the coins should be stolen, but that it should be done using the good'ol method of simply stealing the private keys for that wallet. That may involve some more difficult work of actually hacking FBI's computers to find out where their keys are stored at. Miners and futzing with the blockchain should definitely be left out of it.

You can be sure the key is stored offline.

j68r

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Quote from: Rassah on October 07, 2013, 11:20:25 AM

I think the coins should be returned...

fixed that for you.

Quote from: kibblesnbits on October 07, 2013, 11:21:39 AM

It will be interesting to see what happens to the seized BTC, not only from the SR wallets, but also from the 80 million dollar whopper that DPR had. Would confiscated BTC be viewed as a forfeited property that could be resold, like a drug dealers car? Or would BTC viewed as a contraband substance, like the drugs themselves? If the former, then the Feds could dump a metric shit-ton of coins for sale, possibly crashing the market. If the latter, then roughly 5% of all BTC in existence are permanently off-limits. Good for us, this scenario, as BTC would get more rare.

Another scenario - DPR goes to his grave never giving the password and the wallet.dat stays locked for eternity.

The only value bitcoin will ever have long terms is in its utility as a currency and medium of exchange. It isn't physical like gold so if no one is using it for anything other than eating into available hard drive storage space it rapidly becomes useless and worthless.

kibblesnbits

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It will be interesting to see what happens to the seized BTC, not only from the SR wallets, but also from the 80 million dollar whopper that DPR had. Would confiscated BTC be viewed as a forfeited property that could be resold, like a drug dealers car? Or would BTC viewed as a contraband substance, like the drugs themselves? If the former, then the Feds could dump a metric shit-ton of coins for sale, possibly crashing the market. If the latter, then roughly 5% of all BTC in existence are permanently off-limits. Good for us, this scenario, as BTC would get more rare.

Another scenario - DPR goes to his grave never giving the password and the wallet.dat stays locked for eternity.

Rassah

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I think the coins should be stolen, but that it should be done using the good'ol method of simply stealing the private keys for that wallet. That may involve some more difficult work of actually hacking FBI's computers to find out where their keys are stored at. Miners and futzing with the blockchain should definitely be left out of it.

j68r

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Quote

First they came for the communists,
and I didn't speak out because I wasn't a communist.

Then they came for the socialists,
and I didn't speak out because I wasn't a socialist.

Then they came for the trade unionists,
and I didn't speak out because I wasn't a trade unionist.

Then they came for me,
and there was no one left to speak for me.

hendo420

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Quote from: Oldgamer on October 07, 2013, 11:05:33 AM

sorry, i did not even read all posts .
I think it is just funny.
At first, who said that money is still there?
It would be funny if after all huge work you will find empty wallet.
Money already somewhere else: in another wallet, or just converted to some that government can really use.
Really funny post.

Its right here.

http://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX

buysellbitcoin

legendary

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https://www.zebpay.com

Cant find more stupid thread here. Oh wait we have at least 3476 threads which says why it is wrong to blacklist any stolen bitcoin or such stuff.

All you will do is, prove bitcoin can not be trusted.

/thread

Oldgamer

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sorry, i did not even read all posts .
I think it is just funny.
At first, who said that money is still there?
It would be funny if after all huge work you will find empty wallet.
Money already somewhere else: in another wallet, or just converted to some that government can really use.
Really funny post.

bernard75

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Sure that helps, especially when they FBI-Style drop them on the market at once.

seafarer124

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Quote from: seafarer124 on October 07, 2013, 10:54:34 AM

Nice thought, but NO.

I would rather see them squirm using legitimate means and beat them that way. No monkey business.

Who was it that said "Don't annoy your enemies while they are making a mistake"?

Just thought, if they use the Bitcoin does that not help Bitcoin by being in circulation? Once they cash them in they are just getting useless fiat.

mb300sd

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Drunk Posts

Quote from: kik1977 on October 07, 2013, 10:56:26 AM

Quote from: hendo420 on October 07, 2013, 09:41:41 AM

Cant we just make it unspendable?

Like making any transaction from that address not confirm.

Just completely take those Bitcoins out of circulation. This stops LEO from using that bitcoin in sting operations.

Why???

Some small miner not participating would eventually confirm it, but I just think it'd be fun to make them wait days or weeks

Topic: Should miners collude to steal funds from wallet confiscated by US government? - page 7. (Read 12919 times)