This is a Golden transaction in the history of Bitcoin - page 2.

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: ?? on ??

Quote from: davidgdg on July 03, 2014, 04:53:20 AM

Quote from: ?? on ??

Quote from: davidgdg on July 02, 2014, 02:48:53 PM

But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them.

He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins.

He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods.

By parity of reasoning, you cannot blame Mao, Stalin or Hitler for genocide. It was just in their nature.

Precisely. Only after you understand someone's nature are you able to properly prepare yourself for whatever it is they may do.

http://en.wikipedia.org/wiki/The_Scorpion_and_the_Frog

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: Malin Keshar on July 03, 2014, 01:02:48 PM

USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.

Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins

Neither China nor Russia has banned bitcoin. But in a country, which is not so liberal, there will always be caution from the govt to trade. They even make people cautious before trading in stock exchange.

http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139

http://www.coindesk.com/chinas-central-bank-governor-pboc-wont-ban-bitcoin/

SirChiko

legendary

Activity: 966

Merit: 1000

Quote from: Malin Keshar on July 03, 2014, 01:02:48 PM

USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.

Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins

But they still haven't as they are selling them themselves in legal auction.

Malin Keshar

hero member

Activity: 616

Merit: 500

USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.

Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins

jbreher

legendary

Activity: 3024

Merit: 1640

lose: unfind ... loose: untight

Quote from: newIndia on July 03, 2014, 12:10:20 PM

Quote from: jbreher on July 03, 2014, 11:58:12 AM

...
edit: replace period with question mark

Why ? Question mark is missing in your keyboard or what ?

Not that is important to this thread. When I initially posted, I wrote a '.', where the '?' should have been. After posting, I realized my mistake. I edited the post to fix it. As per my policy*, the edited post included a description of what edit was made. capiche?

* a policy I wish more would adopt

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: jbreher on July 03, 2014, 11:58:12 AM

Quote from: ajareselde on July 03, 2014, 10:19:14 AM

but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future.

Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash.

edit: replace period with question mark

Why ? Question mark is missing in your keyboard or what ?

jbreher

legendary

Activity: 3024

Merit: 1640

lose: unfind ... loose: untight

Quote from: ajareselde on July 03, 2014, 10:19:14 AM

but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future.

Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash.

edit: replace period with question mark

cypherdoc

legendary

Activity: 1764

Merit: 1002

couldn't agree more OP

KawalGrover

newbie

Activity: 38

Merit: 0

Quote from: Beliathon on July 02, 2014, 12:25:11 PM

Quote from: cuddaloreappu on July 02, 2014, 11:41:48 AM

One more reason for me to believe why america is a great nation, greatest nation..

"I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."
-Albert Einstein, My Credo (1932)

"Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship."
-Erich Fromm, in The Sane Society (1955)

Beliathon:

You are one of the most well informed person I have come across on these boards and I sincerely enjoy reading your sources and all the information you provide.

Thanks again!

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: Justin00 on July 03, 2014, 10:23:45 AM

They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could.

How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure...

Justin00

legendary

Activity: 910

Merit: 1000

★YoBit.Net★ 350+ Coins Exchange & Dice

They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: Fiftysven on July 03, 2014, 07:37:23 AM

Am i the only one that is relieved the US Gov doesnt have the coins anymore? And i will be glad when the rest of the 144k is out of their hands Wink

this is something like a double edge blade , on one side you have no more fear of them dumping all at once , hence creating panic,
but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future.

this will definetly be remembered, but i hop in the future we will have even greather meaning transactions. (1st transaction to wall.st anyone ?! )

Fiftysven

newbie

Activity: 38

Merit: 0

Am i the only one that is relieved the US Gov doesnt have the coins anymore? And i will be glad when the rest of the 144k is out of their hands Wink

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: Beliathon on July 03, 2014, 05:35:20 AM

I wonder how long it will be before your use of the word "golden" become antiquated and irrelevant?

My guess: we are the last generation of humans to use that word in this way.

Possibilities are low. This has become symbolic. Even Bitcoin looks golden, whereas Litecoin looks like silver. We have silver jubilee, golden jubilee etc. So Golden is gonna stay !!!

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

I wonder how long it will be before your use of the word "golden" become antiquated and irrelevant?

My guess: we are the last generation of humans to use that word in this way.

Swordsoffreedom

legendary

Activity: 2730

Merit: 1114

Leading Crypto Sports Betting & Casino Platform

Quote from: allthingsluxury on July 02, 2014, 11:30:48 AM

The future of BTC is bright.

Most definitely a moment to relish in before we get back on this wild roller coaster ride of mainstream adoption
Full of legal regulatory hazards and innovative new ideas.

davidgdg

hero member

Activity: 551

Merit: 501

Quote from: ?? on ??

Quote from: davidgdg on July 02, 2014, 02:48:53 PM

But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them.

He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins.

He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods.

By parity of reasoning, you cannot blame Mao, Stalin or Hitler for genocide. It was just in their nature.

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: LiteCoinGuy on July 02, 2014, 07:02:36 PM

Quote from: BitcoinBarrel on July 02, 2014, 01:06:41 PM

Many people will be looking back wishing they bid higher in that auction.

two years later:

"700 USD were very cheap two years ago, now we have to pay 40.000 USD" Wink

Now, we can safely say, by the end of this year we'll reach 1000 USD again for sure

LiteCoinGuy

legendary

Activity: 1148

Merit: 1010

In Satoshi I Trust

Quote from: BitcoinBarrel on July 02, 2014, 01:06:41 PM

Many people will be looking back wishing they bid higher in that auction.

two years later:

"700 USD were very cheap two years ago, now we have to pay 40.000 USD" Wink

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: bryant.coleman on July 02, 2014, 01:42:58 PM

Quote from: BitcoinBarrel on July 02, 2014, 01:06:41 PM

Many people will be looking back wishing they bid higher in that auction.

There were a total of 45 bidders, mostly individuals who participated in the auction. Of them 44 lost their bids and a single individual / organization won all the 10 blocks. What does that mean? IMO, the winning bidder quoted a rate, which was significantly higher than the market exchange rate at that time.

Winning bidder Tim Draper quoted 600 USD per coin, which was higher than the exchange rate at the time of quote.

Topic: This is a Golden transaction in the history of Bitcoin - page 2. (Read 4853 times)