Sudden new largest bitcoin address as of 10/25 - page 3.

klee

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Quote from: notme on October 25, 2013, 02:16:06 PM

Quote from: klee on October 25, 2013, 02:15:15 PM

Quote from: Minor Miner on October 25, 2013, 12:19:42 PM

Just for clarity, they are NOT the FBI's bitcoins now. Like all seized assets, IF the accused is convicted (that takes some time although less time if he has no money and is going to use a PD) then the FBI will liquidate these seized assets. Cash, they keep. Everything else gets auctioned off. It is likely these BTC wallet(s) will be auctioned IF a conviction is achieved.

Is FBI FinCEN compliant? Tongue

I thought FinCEN said Bitcoin is money, US regulators have to get their shit together!...

FBI is exempt from money transmitter regulations

I thought FinCEN was on top of MIB, who are on top of NSA, which is on top of FBI/CIA...

dillpicklechips

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Quote from: impulse on October 25, 2013, 09:40:14 AM

Quote from: derpinheimer on October 25, 2013, 09:36:33 AM

So what is the reasoning for the 354BTC transactions?

Just looking at this on blockchain.info. Interesting. Why 324?

Spells FBI on phone? I don't know.

notme

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Quote from: klee on October 25, 2013, 02:15:15 PM

Quote from: Minor Miner on October 25, 2013, 12:19:42 PM

Just for clarity, they are NOT the FBI's bitcoins now. Like all seized assets, IF the accused is convicted (that takes some time although less time if he has no money and is going to use a PD) then the FBI will liquidate these seized assets. Cash, they keep. Everything else gets auctioned off. It is likely these BTC wallet(s) will be auctioned IF a conviction is achieved.

Is FBI FinCEN compliant? Tongue

I thought FinCEN said Bitcoin is money, US regulators have to get their shit together!...

FBI is exempt from money transmitter regulations

klee

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Activity: 1498

Merit: 1000

Quote from: Minor Miner on October 25, 2013, 12:19:42 PM

Just for clarity, they are NOT the FBI's bitcoins now. Like all seized assets, IF the accused is convicted (that takes some time although less time if he has no money and is going to use a PD) then the FBI will liquidate these seized assets. Cash, they keep. Everything else gets auctioned off. It is likely these BTC wallet(s) will be auctioned IF a conviction is achieved.

Is FBI FinCEN compliant? Tongue

I thought FinCEN said Bitcoin is money, US regulators have to get their shit together!...

Raoul Duke

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Activity: 1358

Merit: 1002

Quote from: Peter R on October 25, 2013, 01:38:04 PM

This is now the top story at forbes.com.

It was also pointed out by Mike Caldwell in the Press section that "FBI" encodes as "324" on a telephone pad. Does that not seem like too much fanfare for the FBI?

No, not really that much fanfare, just their way to celebrate and rub it on the "criminals"* faces. I've seen cops in my country drawing their initials(PJ, GNR, PSP) with the bank notes they seize, when showing off the stash to the media.

*"Criminals" because when the cops do that most of said "criminals" weren't found yet to be guilty of any crime by a court of law.

Peter R

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This is now the top story at forbes.com.

It was also pointed out by Mike Caldwell in the Press section that "FBI" encodes as "324" on a telephone pad. Does that not seem like too much fanfare for the FBI?

windjc

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Well, one thing is for sure, DPR was not nearly as clever as people gave him credit for.

Someone as high profile as himself should at the very least have had multiple small wallets with security contingency protocols in case something happened to him. His lawyers could have put those contingencies into action.

bigasic

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Quote from: notme on October 25, 2013, 01:25:11 PM

Quote from: bigasic on October 25, 2013, 01:23:40 PM

Quote from: notme on October 25, 2013, 01:19:12 PM

Quote from: bigasic on October 25, 2013, 01:15:59 PM

Quote from: vokain on October 25, 2013, 12:56:12 PM

Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority..

They will sell them at auction like all property they seize.

That would be interesting if they put up 40 million dollars worth of bitcoins, I doubt they will auction that off, just like they dont auction off cash... at an auction, they wont get as much as if they sold at an exchange, but this is the govt we are talking about. they always do things the most difficult and most expensive way possible...

We are at least a couple years away (if not more) from them selling them anyways, by that time, the bitcoin price will probably be a lot higher.. They cant do a thing until the case is settled...

Auctioning cash makes no sense. Do you want to buy these dollars for some dollars? Roll Eyes

Auctioning off multimillion dollar homes and boats, however, the do.

That was my whole point.... They would probably treat bitcoin as fiat, (this is new to them, so it will be interesting to see how they sell it.. but I dont think it would be by an auction, but you never know.)

hlynur

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Quote from: bigasic on October 25, 2013, 01:15:59 PM

Quote from: vokain on October 25, 2013, 12:56:12 PM

Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority..

could they throw the coins back into the systems of tor marketplaces to trace them to several merchant wallets, or is that senseless because of the mixing services there?

notme

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Activity: 1904

Merit: 1002

Quote from: bigasic on October 25, 2013, 01:23:40 PM

Quote from: notme on October 25, 2013, 01:19:12 PM

Quote from: bigasic on October 25, 2013, 01:15:59 PM

Quote from: vokain on October 25, 2013, 12:56:12 PM

Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority..

They will sell them at auction like all property they seize.

That would be interesting if they put up 40 million dollars worth of bitcoins, I doubt they will auction that off, just like they dont auction off cash... at an auction, they wont get as much as if they sold at an exchange, but this is the govt we are talking about. they always do things the most difficult and most expensive way possible...

We are at least a couple years away (if not more) from them selling them anyways, by that time, the bitcoin price will probably be a lot higher.. They cant do a thing until the case is settled...

Auctioning cash makes no sense. Do you want to buy these dollars for some dollars? Roll Eyes

Auctioning off multimillion dollar homes and boats, however, the do.

bigasic

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Activity: 924

Merit: 1000

Quote from: notme on October 25, 2013, 01:19:12 PM

Quote from: bigasic on October 25, 2013, 01:15:59 PM

Quote from: vokain on October 25, 2013, 12:56:12 PM

Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority..

They will sell them at auction like all property they seize.

That would be interesting if they put up 40 million dollars worth of bitcoins, I doubt they will auction that off, just like they dont auction off cash... at an auction, they wont get as much as if they sold at an exchange, but this is the govt we are talking about. they always do things the most difficult and most expensive way possible...

We are at least a couple years away (if not more) from them selling them anyways, by that time, the bitcoin price will probably be a lot higher.. They cant do a thing until the case is settled...

notme

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Activity: 1904

Merit: 1002

Quote from: bigasic on October 25, 2013, 01:15:59 PM

Quote from: vokain on October 25, 2013, 12:56:12 PM

Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority..

They will sell them at auction like all property they seize.

bigasic

hero member

Activity: 924

Merit: 1000

Quote from: vokain on October 25, 2013, 12:56:12 PM

Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority..

C. Bergmann

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Activity: 803

Merit: 500

Quote from: hlynur on October 25, 2013, 01:01:21 PM

Quote from: C. Bergmann on October 25, 2013, 11:50:35 AM

This is part of Bitcoins' Magic. The crowd can look into the wallet of the rich and spekulate about it ...

To make this thing more scary, there is a coincidence with a new conspiracy theory about the silk road bust, which I thin is untrue, but gains value as a storyboard. Maybe you know, http://www.reddit.com/r/SilkroadUNcensored/comments/1p0ogt/time_to_let_the_cat_out_of_the_hat/

Its written in weird language, so I give you the details: He claims, SR was not seized, but all was a scam. In the days before the socalled seizure, there would have happened a lot of complain by users, they couldn't logg in, couldn't free their coins, etc. Theory is, the admins just run away with the money.

I don't believe this theory, but I like it, cause the storyline is 2 big 2 fail 2 make me brainrisseling ... this adress would be the top of the story

whoa... thanks for posting the link, some heavy tinfoilstuff goin' on there, esp. the theory about the gawker journalist being involved.

yea, with the forbes-article its officialy untrue, but nice for imagination

hlynur

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Merit: 501

Quote from: C. Bergmann on October 25, 2013, 11:50:35 AM

This is part of Bitcoins' Magic. The crowd can look into the wallet of the rich and spekulate about it ...

To make this thing more scary, there is a coincidence with a new conspiracy theory about the silk road bust, which I thin is untrue, but gains value as a storyboard. Maybe you know, http://www.reddit.com/r/SilkroadUNcensored/comments/1p0ogt/time_to_let_the_cat_out_of_the_hat/

Its written in weird language, so I give you the details: He claims, SR was not seized, but all was a scam. In the days before the socalled seizure, there would have happened a lot of complain by users, they couldn't logg in, couldn't free their coins, etc. Theory is, the admins just run away with the money.

I don't believe this theory, but I like it, cause the storyline is 2 big 2 fail 2 make me brainrisseling ... this adress would be the top of the story

whoa... thanks for posting the link, some heavy tinfoilstuff goin' on there, esp. the theory about the gawker journalist being involved.

niothor

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Activity: 826

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in defi we trust

So , all those who said that they will never get hit bitcoins....how long did it take , 1 month? =)))))))))))))))0

vokain

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Quote from: Raoul Duke on October 25, 2013, 12:35:36 PM

Good. 170k BTC out of the market.
Up, up, up!

talk about a trophy catch for the FBI though. could be billions one day

bigasic

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Activity: 924

Merit: 1000

Quote from: Rygon on October 25, 2013, 12:38:53 PM

Quote from: tysat on October 25, 2013, 12:05:13 PM

http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

Looks like it's the FBI's address

That article implies that the FBI might not have the private key to that address. It's very confusing. What did they seize exactly?

edit: They must have the key since the funds were moved today. IMO, this is bearish because newcomers to BTC will think that it can easily be confiscated. I'm surprised the private key(s) wasn't hidden better.

You have to remember that DPR was being watched for months, I suspect from about May onwards. The FBI are very crafty. They could have very easily broken in and put a key logger on his machine that he wouldnt detect. I bet the gov has many tools that arent available to the most savvy of hackers.. So, it would make sense that they would have a ton of info..

I was watching one of those FBI real life shows the other night on how they do pretty much what I just said. They would stage a car wreck to close off the street while their agents were in the house putting bugs, etc.. so, ulbricht goose was cooked probably by late spring...

C. Bergmann

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