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

From: Rod 
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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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Using Opera's mail client: http://www.opera.com/mail/

=============================================================== From: Stephen Kraus ------------------------------------------------------ No, they've already said they plan to 'liquidate' it. Either delete it or sell it back to bit-coiners.

=============================================================== From: Rod ------------------------------------------------------ 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 wrote:

=============================================================== From: Stephen Kraus ------------------------------------------------------ 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.

=============================================================== From: Rod ------------------------------------------------------ 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 wrote:

=============================================================== From: Stephen Kraus ------------------------------------------------------ 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.

=============================================================== From: Stephen Kraus ------------------------------------------------------ Also: 3.3 Million dollars isn't even a drop in the bucket. The shutdown has cost a rough total of $1.6 Billion already.

=============================================================== From: Rod ------------------------------------------------------ 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 wrote:

=============================================================== From: Stephen Kraus ------------------------------------------------------ No, the idiot kept records of his contacts. That is why those drives will never see the light of day. See, you see it as an asset. The Government probably doesn't, at least not in the way you do.

=============================================================== From: Lynn Dixon ------------------------------------------------------ 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.

=============================================================== From: Mike Harrison ------------------------------------------------------ I agree with you (gasp). Chances of that happening: slim.