U.S. announces forfeiture of $28 million of bitcoins belonging to Silk Road - page 3.

EvilPanda

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Small Red and Bad

Quote from: ak84 on January 16, 2014, 06:52:30 PM

Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?

He probably gave it to them for reduced charges. And what will they do with it? Simple - auction it or sell to some rich investor, which means they will not sell it on an exchange. And NO it will not cause a crash because someone investing milions in BTC doesn't do it just to dump all immediately.

ak84

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Can anyone clarify for me:

How does the FBI have access to the bitcoins? They have unencrypted wallet.dat file or they know the password?

I read all the time about how bitcoins can't be seized... so what happened in the case of DPR's bitcoins?

Bitcoinpro

legendary

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I'd say DPR has heard about Dogecoin now and has struck a deal with the justice department to unload the whole lot and buy Dogecoin with it,

so much for the FBI and their Silkroad honey pot, they should have left it running to get all the Doge too Cheesy

BitCoinNutJob

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this means they are going to sell them?

El Dude

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oh man , price is gonna crash if this is true.

tozak

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How can they seize something if it was encrypted, or is this just the un-encrypted portion of what they seized?

mjc

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Available on Kindle

Likely they will use the money to fund operations to bring down other illegal operations like Silk Road. That's what they do with drug money. It's interesting that they call it 28 Million. They didn't account for the massive growth since they took it.

extee

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Activity: 171

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if they was smart the'd invest those 28 million in a superpowerful mining farm and takeover bitcoin completely.
actually the total of bitcoins they have seized exceeds 130 million dollars.....so that's just a small part that they'd be forfeiting

HairyMaclairy

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Degenerate bull hatter & Bitcoin monotheist

http://www.dailyjournal.net/view/story/b1927d05dd2b441db31b447e1a13d30d/NY--Drug-Website-Shutdown/#.UthmNngazCQ

Just says a judge has approved the forfeiture of 26,000 coins as proceeds of crime (no this does not mean btc is a currency any assets can be seized as "proceeds").

cysive

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Quote from: cremstopper on January 16, 2014, 05:56:21 PM

Is that the only news story about it?

All I could find were tweets. I have not been able to find a complete news story.

hilariousandco

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Quote from: Bobsurplus on January 16, 2014, 05:30:29 PM

Quote from: Remember remember the 5th of November on January 16, 2014, 05:28:04 PM

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

Maybe they should dish it out as compo to all their drone victims or the millions of kids they've orphaned.

cremstopper

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Is that the only news story about it?

cysive

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...so does it means they found $28m more?

Or that it has decided Silk Road has forfeited what has already been found?

Sutters Mill

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Cryptophile at large

I agree that the charity donation would be good, but not at all likely. This does sound odd. I read though that they are likely to be 'auctioned off'. Not sure how or where.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: Holliday on January 16, 2014, 05:31:44 PM

Quote from: Bobsurplus on January 16, 2014, 05:30:29 PM

Quote from: Remember remember the 5th of November on January 16, 2014, 05:28:04 PM

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

Unfortunately the government isn't in the business of helping people.

That can change, just like Bitcoin will change the world and the all mighty governments running it!

pungopete468

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That might cover another shipment of machine guns to Mexican drug cartels and let's not forget the Muslim Brotherhood... I bet they will get some too.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: vpitcher07 on January 16, 2014, 05:31:15 PM

Quote from: Bobsurplus on January 16, 2014, 05:30:29 PM

Quote from: Remember remember the 5th of November on January 16, 2014, 05:28:04 PM

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

The US gov. giving to charity? Are you fucking high?

Actually, yes I am. Quite high as a matter of fact (just got home from a long day at work and sat down with the bong), but that has nothing to do with my opinion. I understand though that its not a likely scenario, but it would be the right thing to do with them!

SirBitsalot

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Something tells me this isn't all what it seems.. besides, it's not like they can control where Bitcoins go.

Holliday

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Quote from: Bobsurplus on January 16, 2014, 05:30:29 PM

Quote from: Remember remember the 5th of November on January 16, 2014, 05:28:04 PM

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

Unfortunately the government isn't in the business of helping people.

vpitcher07

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Activity: 342

Merit: 250

Quote from: Bobsurplus on January 16, 2014, 05:30:29 PM

Quote from: Remember remember the 5th of November on January 16, 2014, 05:28:04 PM

Free coins to everyone on bitcointalk.org?

Every single one should be donated to charities. Not only would that get mass adoption by charities of bitcoin but it wuld help millions of people even if in just a small way.

The US gov. giving to charity? Are you fucking high?

Topic: U.S. announces forfeiture of $28 million of bitcoins belonging to Silk Road - page 3. (Read 4361 times)