281–290 of 424 posts
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These coins should be removed from the blockchain in a protocol update agreed upon by everyone. No government should be making money this way.
so it's perfectly fair to profit from selling drugs that kill people, but when the profits from illegal activity are seized, the public shouldn't be able to reuse them?
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> You want a cryptocurrency that isn't absurdly volatile? Make it steadily inflationary, not steadily deflationary. There are cryptocurrencies that do this, PeerCoin and Dogecoin for example, and they don't seem to work out, maybe because there is a lack of incentive to be an early investor if your investment steadily loses value. There is no significant barrier to entry for creating a cryptocurrency that represents…
how do you judge that peercoin and dogecoin don't work out? They seem to have been the "next big" currency for market cap after BTC and LTC for the last 9 months, which would point in the direction of, at least, inflationary nature not being such a big deal.
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These coins should be removed from the blockchain in a protocol update agreed upon by everyone. No government should be making money this way.
Brilliant precendent you're trying to set here Einstein.
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so it's perfectly fair to profit from selling drugs that kill people, but when the profits from illegal activity are seized, the public shouldn't be able to reuse them?
Please entertain me how drugs sold on SR kill people.
What people should be more concerned with is the fact that the government is selling off someone elses property before they have even been convicted of a crime. Dread pirate roberts plead not guilty and has still not had a trial yet. He has not been convicted of any crime so if these are his coins they are selling them before the trial is even finished
>THIS AUCTION DOES NOT INCLUDE THE BITCOINS CONTAINED IN WALLET FILES THAT RESIDED ON CERTAIN COMPUTER HARDWARE BELONGING TO ROSS WILLIAM ULBRICHT, THAT WERE SEIZED ON OR ABOUT OCTOBER 24, 2013 (“DPR SEIZED COINS”). Seems to me that only BTC that are directly linked to SR that are sold.
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Brilliant precendent you're trying to set here Einstein.
What's with the hostile response and name calling? If you don't agree with me you can write a constructive response.
What you are suggesting would be a centralized backdoor in a decentralized protocol.
It would have been far better to quietly sell these BTC evenly spread across the major exchanges at market prices.
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>THIS AUCTION DOES NOT INCLUDE THE BITCOINS CONTAINED IN WALLET FILES THAT RESIDED ON CERTAIN COMPUTER HARDWARE BELONGING TO ROSS WILLIAM ULBRICHT, THAT WERE SEIZED ON OR ABOUT OCTOBER 24, 2013 (“DPR SEIZED COINS”). Seems to me that only BTC that are directly linked to SR that are sold.
What about coins of SR users? Are those included here? Shouldn't they be returned to the users?
We can argue the merits of returning the coins to the last previously associated wallets; but I don't think the U.S. Gov has any intention of returning drug money to drug buyers the same way they wouldn't give gun money back to arms buyers.
So the government makes it illegal to sell narcotics, regardless, some individuals take a risk and deal drugs to be able to sustain themselves or finance a lifestyle of their choice.
Now the government start prosecuting someone, seize their assets (Which were turned over through illicit methods) and release this dodgy money back to the market.
What's more disturbing about this whole scenario is the fact that someone is getting done over. What if the government kept prosecuting dealers and then selling their assets back to the market? Those assets should be "destroyed" - just the way narcotics are destroyed when dealers get caught.
This is a joke.
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What about coins of SR users? Are those included here? Shouldn't they be returned to the users?
If the coins were seized on Silk Road servers they didn't belong to anyone at the time but the Silk Road. We can argue the merits of returning the coins to the last previously associated wallets; but I don't think the U.S. Gov has any intention of returning drug money to drug buyers the same way they wouldn't give gun money back to arms buyers.
An online shop selling clothing also happens to sell firearms illegally. Its assets are seized. What about money from pending orders for the clothing? It seems to me it's obvious in this case. Couldn't SR users start a class action lawsuit against gov for seizing their assets stored on SR servers? This is assuming not everything sold there was illegal (this might be wrong).