Why US government selling bitcoins? How about donating to poor and homeless?

ParallelSquid

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Quote from: 108abhishek on January 09, 2018, 12:17:10 AM

I read it here..they say it is official news from government.

https://news.bitcoin.com/us-government-sell-bitcoin-seized-dark-web-dealer/

Ahh, I see. I think the US government is not literally selling BTC or into cryptocurrency. I think they are just liquidating the seized coins from the person whom they have arrested.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

The US government have laws in place to seize assets that was acquired through criminal activities. These assets are sold and the proceeds of these sales will go back to the government. They will then channel that funding back into law enforcement or any other project that needs funding.

In some countries these assets are sold to reimburse the victims of these crimes. ^smile^

Nhebu

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Quote from: 108abhishek on January 09, 2018, 12:07:42 AM

I don't understand, US government does not support bitcoin, but they are gaining profits from selling bitcoins.
Who keeps the money from selling so many bitcoins?
Why they can't they just donate to some poor people, like who are homeless?

What the US government did was good for all. The seizing of bitcoins from the person that operated illegally is somehow natural. It could help to maintain the good name of bitcoin from any anomalies.
I think that you are misleading to the topic that you've discussed. What is the relevant of the poor people in the approval of US government to sell the bitcoins?
At the end of the day, the citizen of the America will receive the seized btc. Don't worry, everyone will receive it.

jseverson

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Quote from: ParallelSquid on January 09, 2018, 12:10:39 AM

How can you say that the US government had been using or selling bitcoin? Don't heard any news about this. Do you have proof to back-up your statement. I also want to learn if this is true. Thanks

He was probably talking about the coins seized from Silk Road and its owner.

Either way, they didn't really sell it for profit. They seized it as part of an operation, and likely had no use for it, so they chose to liquidate it. It doesn't seem like there are any news that detail how they're going to use it, but either way, I don't think they can simply give it away. They would have to route it through an agency or something. You should be able to ask your local officials.

108abhishek

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