Fbi Owns Largest Bitcoin Wallet

[Tony-DarkGrave]

Who owns the single largest Bitcoin wallet on the internet? The U.S. government.

In September, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, who they say is an American man named Ross Ulbricht.

The seizure sparked an ongoing public discussion about the future of Bitcoin, the world’s most popular digital currency, but it had an unforeseen side-effect: It made the FBI the holder of the world’s biggest Bitcoin wallet.

The FBI now controls more than 144,000 bitcoins that reside at a bitcoin address that consolidates much of the seized Silk Road bitcoins. Those 144,000 bitcoins are worth close to $100 million at Tuesday’s exchange rates. Another address, containing Silk Road funds seized earlier by the FBI, contains nearly 30,000 bitcoins ($20 million).

Source

Fuuuuck.

[graives]

That doesn’t make the FBI the world’s largest bitcoin holder. This honor is thought to belong to bitcoin’s shadowy inventor Satoshi Nakamoto, who is estimated to have mined 1 million bitcoins in the currency’s early days.

[Tony-DarkGrave]

At 1/10/14 05:10 PM, graives wrote: That doesn’t make the FBI the world’s largest bitcoin holder. This honor is thought to belong to bitcoin’s shadowy inventor Satoshi Nakamoto, who is estimated to have mined 1 million bitcoins in the currency’s early days.

but he has it broke up into multiple wallets, not just one big account. the FBI hold the LARGEST SINGLE WALLET.

[Swag-in-a-Bag]

Bitcoins always seemed to me like a way to scam people, and launder money

[tox]

https://www.youtube.com/watch?v=45Ynt0mNSwo

[Halberd]

Imagine all the weed the FBI could buy

[372]

wow bit coins might get some legal legitimacy if the U.SGOV is looking to turn a profit.

[tox]

At 1/10/14 05:37 PM, 372 wrote: wow bit coins might get some legal legitimacy if the U.SGOV is looking to turn a profit.

if you are broke, and you need money, you find your self doing some pretty weird things for cash

[kmau]

Hold on, there was a Silk Road drug marketplace?

[tox]

At 1/10/14 05:44 PM, kmau wrote: Hold on, there was a Silk Road drug marketplace?

these are the question that need to be asked

[Swag-in-a-Bag]

At 1/10/14 05:37 PM, 372 wrote: wow bit coins might get some legal legitimacy if the U.SGOV is looking to turn a profit.

The more I research B.coins and how to use them, the more i see the potential of a 1 World currency plan being implemented

[Xenomit]

At 1/10/14 05:46 PM, Swag-in-a-Bag wrote:

At 1/10/14 05:37 PM, 372 wrote: wow bit coins might get some legal legitimacy if the U.SGOV is looking to turn a profit.

The more I research B.coins and how to use them, the more i see the potential of a 1 World currency plan being implemented

Not really though

If we implement a digital pseudo currency with nothing backing it up we might as well just get rid of currency all together and start a trust system where you work for free and get anything you need for free, like in Star Trek

[372]

At 1/10/14 05:49 PM, Xenomit wrote:

At 1/10/14 05:46 PM, Swag-in-a-Bag wrote:

At 1/10/14 05:37 PM, 372 wrote: wow bit coins might get some legal legitimacy if the U.SGOV is looking to turn a profit.

The more I research B.coins and how to use them, the more i see the potential of a 1 World currency plan being implemented

Not really though

If we implement a digital pseudo currency with nothing backing it up we might as well just get rid of currency all together and start a trust system where you work for free and get anything you need for free, like in Star Trek

No...
At-least a electronic currency system will keep the current economy moving forward, even if it is just an a illusion.

[Painbringer]

At 1/10/14 05:49 PM, Xenomit wrote: If we implement a digital pseudo currency with nothing backing it up we might as well just get rid of currency all together and start a trust system where you work for free and get anything you need for free, like in Star Trek

Doesn't Star Trek have an energy-based economy or something?

That and gold-pressed latinum.

[mechadude32]

Once more, the U.S. government wastes god knows how many taxpayer dollars on something utterly useless.

Way to go.

[Xenomit]

At 1/10/14 06:15 PM, Painbringer wrote:

At 1/10/14 05:49 PM, Xenomit wrote: If we implement a digital pseudo currency with nothing backing it up we might as well just get rid of currency all together and start a trust system where you work for free and get anything you need for free, like in Star Trek

Doesn't Star Trek have an energy-based economy or something?

What I've gathered from the series is that all currency and greed had been removed from human society. I've never played any star trek games or anything like that, so if it says something about it in somewhere in there then I don't know about it.

That and gold-pressed latinum.

That's mostly just used by the Ferengi.

[AxTekk]

Question - Why don't they just cash in the bitcoins and take less tax money?

[DarkMatter]

Didn't they kind of steal it though?

[Tony-DarkGrave]

and to think those Bitcoins will never go back into circulation. that and the chinese are building a bitcoin super farm.

[Conal]

The FBI are a black whole, absorbing all US law-infringing virtual content.

[mandog]

At 1/10/14 05:17 PM, Swag-in-a-Bag wrote: Bitcoins always seemed to me like a way to scam people, and launder money

Yep! it is as fake as the current money system.

I swear to God, I am saving up my money now, one day Imma convert it all to gold and go live in the woods with say...20 dogs? breed em to make the best hunting dogs (cause I can't goto stores and give them 1 gold coin for Coke & Bread, I'm hunting in this bitch), and wait it out until everyone uses Gold, then I'll stroll in with some tough ass motherfucking dogs and sell em, live off all the gold I make.

Or take bets on how long I will last.

[Swag-in-a-Bag]

At 1/10/14 05:49 PM, Xenomit wrote:
If we implement a digital pseudo currency with nothing backing it up we might as well just get rid of currency all together and start a trust system where you work for free and get anything you need for free, like in Star Trek

Possibly, but i feel like BitCon can be used as some kind of prototype to a new currency that can be used globally.

If every nation agreed upon it, and switched over from the current monetary system that supposedly is backed by the Gold standard, this could probably work overtime

[Xenomit]

At 1/10/14 06:15 PM, Painbringer wrote: Doesn't Star Trek have an energy-based economy or something?

Actually, I was only half right

http://en.wikipedia.org/wiki/United_Federation_of_Planets#Economics

The federation does still use a currency simply referred to as "credits". By the time Next Generation took place, most of starfleet had completely abhorred all use of currency, and simply worked for the betterment of society. Many colonies and other sections of humanity had started to do the same; people worked for the bettering of humanity rather than for money.

Although the currency exists, the government almost exclusively uses it to trade and deal with other political entities that still used currency. One time starfleet offered millions of credits to the ferengi for the use of a stable wormhole.

Although it's just science fiction, I could see something like that working for us in reality. A faith based system in which greed and needless capitalism is a thing of the past. Either that, or even more blood red capitalism that takes place in the form of a 100% digital currency. People get paid in this digital currency, keep it with them on an ID tag, and then use it to make purchases.

But now I'm just getting purely hypothetical.

[Light]

Quite a few economists(Nobel laureate Paul Krugman being one of them) believe Bitcoin is just another bubble waiting to burst because of its speculative nature. It also doesn't help that the value of Bitcoin is very unstable and very mutable. The same can't be said of the U.S. Dollar, the Euro, the Japenese Yen, the Chinese Yuan, or any other stable and well-known currency.

I wouldn't go near Bitcoin and honestly, neither should any of you.

[Tony-DarkGrave]

I like how people say that bit coin is unstable and speculative, they should look at the US dollar which isn't backed up by anything as a fiat currency which is no better than monopoly money.

[Xenomit]

At 1/10/14 10:26 PM, Light wrote: I wouldn't go near Bitcoin and honestly, neither should any of you.

I love you

[Tony-DarkGrave]

At 1/10/14 11:06 PM, Addict wrote:

At 1/10/14 11:03 PM, Tony-DarkGrave wrote: I like how people say that bit coin is unstable and speculative, they should look at the US dollar which isn't backed up by anything as a fiat currency which is no better than monopoly money.

you're an idiot

A simple economics course says otherwise the US dollar has intrinsic value and its up to the Federal Reserve (a non government entity) to regulate it.

[Xenomit]

At 1/10/14 11:15 PM, Tony-DarkGrave wrote: A simple economics course says otherwise the US dollar has intrinsic value and its up to the Federal Reserve (a non government entity) to regulate it.

At least your grammar has improved tenfold.

[satanbrain]

Can the national debt be paid in bitcoin?

[Light]

At 1/10/14 11:15 PM, Tony-DarkGrave wrote:

At 1/10/14 11:06 PM, Addict wrote:

At 1/10/14 11:03 PM, Tony-DarkGrave wrote: I like how people say that bit coin is unstable and speculative, they should look at the US dollar which isn't backed up by anything as a fiat currency which is no better than monopoly money.

you're an idiot

A simple economics course says otherwise the US dollar has intrinsic value and its up to the Federal Reserve (a non government entity) to regulate it.

I took "a simple economics course" in college and I learned that fiat money is popular because it has proven effective and convenient for the economic needs of nation-states.

Go ahead. I dare you to make the argument that we should return to the gold standard. There's a reason most countries have abandoned it.