Post
Topic
Board Bitcoin Discussion
Re: DPR's Bitcoin Stash future sell off by the gov't panic ensues ..
by
Voogru
on 09/01/2014, 00:46:27 UTC
1) Yes the ownership is or will be, of course, contested.  So they cannot sell them until that is settled.
2) He probably had to turn over the keys in order to contest the ownership and/or to cut a deal.  In any case AFAWK the FBI does control the two addresses.
3) They will not sell them until everything (ownership, guilt, etc.) is all settled and appealed.
4) When they sell them they will not use any exchange, they will auction them off just like they do all other seized assets (gold, cars, boats, houses) through their already established methods and protocols.
5) I expect that they want the most USD they can get (not the least) - as this all goes directly into their budgets.
6) These people are not stupid and (for the most part) they do follow the law or their own internal regulations.  We are not talking about the CIA or NSA here.
7) They do not give a shit as to what Bitcoin is, whither a currency, asset, "digital gold" or whatever.  That is not their job.  They just want the most USD they can get to line their budgets.

I could be wrong.  I would be willing to bet on this but the event (sale of the BTC) is so many years in the future that placing a bet is not very practical.  I wish I could in order to just shut up the hundreds of threads on this same subject every day, day after day.  It gets very tedious.

I guess I could bet "The FBI will not sell or otherwise dispose of the DPR coins in the next year"  but who would be stupid enough to take the opposite side on this bet?

And the fun part is, what idiot is going to buy the bitcoins if they know that the government is going to act against bitcoin, destroying the value?

Hint: Nobody.

So in order for them to be sold in some sort of auction, whoever buys them is going to probably want some actual assurance that the government isn't all of a sudden going to take a position that will destroy the value of the thing they just purchased.

So it's going to be some sort of insider that buys them.

Fascism for the win!