[Chugalug] hmm Someone with ACH connections, Groks bitcoins, and meet regs could make a fortune

Rod rod-lists at epbfi.com
Sun Oct 13 18:09:02 UTC 2013


Normally they would use it in the next sting but Bitcoins can be traced.  
So they can't do that.
I didn't say it would fix th budget crisis. I just think it be stupid to  
blow up any asset worth that much.

I still say someone with an ACH connection, track record of meeting the  
regs, and an understanding of bitcoin could liquidate it for a handy  
percentage.


On Sun, 13 Oct 2013 13:40:24 -0400, Stephen Kraus <ub3ratl4sf00 at gmail.com>  
wrote:

> You are assuming that they care about Bitcoin or see the value in it.  
> They don't, or at least they haven't shown any interest in it publicly.  
> Its very doubtful that they would intend to do such a >thing anyways, as  
> the FBI/Secret Service tends to get their value from seized possessions  
> through public auction, but if its something they see as not having a  
> recognizable value they will >simply destroy it.
> Not to mention: The budget crisis has only been compounded by the  
> shutdown.
> Bitcoin is not a solution to the budget crisis. Nice penny stocks idea,  
> but I doubt the Federal Reserve sees any value in bitcoin
> Not to mention: You are trying to assign the value of the bitcoins  
> retained on the hard disks to the computer hardware they reside on, that  
> is not how they are going to value it. Chances are, >due to the fact  
> that they are using information on that very system to hunt down illicit  
> drug re-sellers, they are not letting that hardware out to the public,  
> at least with the hard disks intact.
>
>
> On Sun, Oct 13, 2013 at 1:02 PM, Rod <rod-lists at epbfi.com> wrote:
>> That be like destroying a 3.3 million dollar piece of equipment.
>> Yes I am aware of the burn pits overseas, but this is just too high  
>> profile for them to be that stupid.
>> Especially in the middle of a budget crisis.
>>
>> On Sun, 13 Oct 2013 12:55:14 -0400, Stephen Kraus  
>> <ub3ratl4sf00 at gmail.com> wrote:
>>
>>> Depends. The Federal government doesn't really recognize Bitcoin as a  
>>> tradable currency or medium of trade. There is the chance they'll  
>>> auction off the Bitcoins. That is the closest they'll >>>probably come  
>>> to profiting off them.
>>>
>>> There is every chance though they'll just destroy the hard drives and  
>>> equipment containing the wallet though.
>>>
>>>
>>> On Sun, Oct 13, 2013 at 12:46 PM, Rod <rod-lists at epbfi.com> wrote:
>>>> But how do they liquidate it? That is the question? I don't think  
>>>> they will delete $3.3 million assett which will likely be worth more  
>>>> once the legal wrangling is over.
>>>>
>>>> On Sun, 13 Oct 2013 12:37:48 -0400, Stephen Kraus  
>>>> <ub3ratl4sf00 at gmail.com> wrote:
>>>>
>>>>> No, they've already said they plan to 'liquidate' it. Either delete  
>>>>> it or sell it back to bit-coiners.
>>>>>
>>>>> On Sun, Oct 13, 2013 at 12:30 PM, Rod <rod-lists at epbfi.com> wrote:
>>>>>> The Ultimate Bitcoin Question: Can the Feds Spend $3.3M in Seized  
>>>>>> Digital Currency?
>>>>>> http://www.wired.com/wiredenterprise/2013/10/silk-road-bust
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