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

Lynn Dixon boodaddy at gmail.com
Sun Oct 13 19:04:20 UTC 2013


coinbase.com is a reputable company that uses ACH to facilitate in the
buying and selling of bitcoin. They are also great for retailers wanting to
incorporate BTC into their business.
On Oct 13, 2013 2:09 PM, "Rod" <rod-lists at epbfi.com> wrote:

> **
> 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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