So what happens if the Feds sell the Bitcoins to J.P. Morgan and they used them for manipulating the Bitcoin markets just like they manipulate the gold and silver markets.
Could this spell the end of Bitcoin?
Just the end of the beginning.
I don't usually write in speculation forum, but here's what I have to say.
Guess: DPR will face a difficult trial. Most likely, it will take at least 12 months to get a verdict, assuming he's not gonna plea guilty.
Fact: FBI HAS some +170k coins . Valued at about 30 mil USD, they cannot sell them on eBay/MtGox/Bitcoinica. They can keep them (they can invoke some reasons for that) or auction them AFTER the trial. The problem is, while BTC rises in value, the US Govt gets a fuckin' ton of
BTC (money is not important). But power it is.
Meanwhile little boys and girls, bears, bulls, whales, manipulators, speculators and ever single living person knowing about bitcoin were busy "making profit", big guys had a solid agenda. Don't be fooled even for one second that they were chasing SilkRoad, to shut it down because it sold drugs and guns. No. They were chasing down a movement. They were chasing bitcoin. Even if they didn't confiscate any coins, they would still be winners because they shut down the first, biggest illegal bitcoin marketplace. Cum laudae.
So, what can be done about this? One hard thing. Take out your coins from exchanges, into your wallets, make stashes, unite, fight. Create 100 silkroads. 1000 exchanges. 10,000 services and business.
Of course it should be implemented as silently as possible, so no word gets out to cops. It would be a fun "politicalmove" an "exertion of power"
