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For Sale: 50,000 Bitcoins

usmarshals.gov

101–110 of 141 posts

Re: For Sale: 50,000 Bitcoins

#101
post #2

I don't have a deep grasp of Civil Forfeiture but it seems like this is unusual considering DPR has not been convicted of anything yet. Is this part of a plea bargin or something similar?

ij.org has some good info about civil asset forfeiture.

WRT DPR, I would guess that in order to have any chance to successfully challenge the forfeiture he d likely find it necessary to incriminate himself.

Re: For Sale: 50,000 Bitcoins

#103

Earlier quoted context omitted.

Let's be honest: There is zero chance that Ross William Ulbricht obtained those coins legally. While that may be beside the point, a rousing speech about how asset forfeiture should be changed would resonate more strongly if the subject was someone other than a person who hired people to murder others. Also, it seems like supreme court justices aren't going to turn against asset forfeiture any time soon, so there's r…

While we're being honest, I don't think there were ever charges filed against Ross for hiring anyone to kill anyone else

There have been charges filed and a pending trial in Maryland that includes these charges, while the current case is a separate trial in NY.

http://www.popehat.com/wp-content/uploads/2013/10/UlbrichtMa...

http://www.popehat.com/wp-content/uploads/2013/10/UlbrichtCr...

Re: For Sale: 50,000 Bitcoins

#104
post #2

I don't have a deep grasp of Civil Forfeiture but it seems like this is unusual considering DPR has not been convicted of anything yet. Is this part of a plea bargin or something similar?

Civil forfeiture does not require a criminal conviction of the owner of the property. Most importantly, in civil forfeiture it's not the owner who is on trial, it's the property. And unlike criminal law which works on the premise of presumption of innocence and requirements of proof of guilt "beyond reasonable doubt", asset forfeiture works based on civil law and the standard of "preponderance of evidence" (or a >50% probability of guilt).

Re: For Sale: 50,000 Bitcoins

#105
post #87
post #80

Earlier quoted context omitted.

What text on that excerpt leads you to believe this was forced?

The "US Marshalls" part.

So, in other words, only your own biases and preconceived notions.

Edit: I'd be curious to hear the side of you down voters. Do you have a legitimate gripe with the accuracy of what i said, or do you just blindly believe that everything the government does is evil?

Re: For Sale: 50,000 Bitcoins

#106
post #60

Earlier quoted context omitted.

So basically, put the current value of the coins in escrow, instead of the coins themselves, in case they drop in value dramatically over time. Makes sense to me.

@kordless: It says they agree. Doesn't sound forced.

Maybe it's one of those things that should not be allowed even if people agree to it.

Re: For Sale: 50,000 Bitcoins

#107
post #90

What's sad is that this was half the point of bitcoins; they can't be easily seized. I hope the other DPRs are smart enough to have a system which moves their coins before the gov breaks the encryption on the wallets they seize in person.

There are many DPR-related bitcoins that they were unable to access. Fear not. This was not "half the point of bitcoins" - the intent of the bitcoin release is only hinted at by Satoshi. Any point you are asserting here is pure speculation. However, if you think this is a valuable property, a so-called "brainwallet" provides exactly this safety. They've been around for ages. No moving of coins required.

Where there really coins they didn't get? Source? (Not to dispute the claim, just interested)

About it being half the point: Perhaps not stated explicitly, but he knew what he was doing by not baking in a government back door. From the whitepaper: "any two willing parties to transact directly with each other"

I'm probably not getting the joke, but are there people who memorize their secret keys? I've never looked to see how long they are but I assume that's quite a feat.

Re: For Sale: 50,000 Bitcoins

#108
post #28

Earlier quoted context omitted.

Everyone seems to be going off on a tangent about civil forfeiture. From the order: http://www.usmarshals.gov/assets/2014/dpr-bitcoins/order.pdf WHEREAS, the Government and Ulbricht agree that, due to the volatile market for bitcoins, the Computer Hardware Bitcoins risk losing value during the pendency of the forfeiture proceedings; WHEREAS, the Government and Ulbricht agree that the Computer Hardware Bitcoins are to…

So basically, put the current value of the coins in escrow, instead of the coins themselves, in case they drop in value dramatically over time. Makes sense to me.

Tangent: Does anyone know if it's standard practice for these sorts of arrangements to be made if other goods become part of forfeiture proceedings? (For instance, shares of a volatile mutual fund. Or, to take it out of the financial realm entirely, a truckload of perishable vegetables.)

Re: For Sale: 50,000 Bitcoins

#109
post #90

Earlier quoted context omitted.

There are many DPR-related bitcoins that they were unable to access. Fear not. This was not "half the point of bitcoins" - the intent of the bitcoin release is only hinted at by Satoshi. Any point you are asserting here is pure speculation. However, if you think this is a valuable property, a so-called "brainwallet" provides exactly this safety. They've been around for ages. No moving of coins required.

Where there really coins they didn't get? Source? (Not to dispute the claim, just interested) About it being half the point: Perhaps not stated explicitly, but he knew what he was doing by not baking in a government back door. From the whitepaper: "any two willing parties to transact directly with each other" I'm probably not getting the joke, but are there people who memorize their secret keys? I've never looked to…

Maybe it would be more correct to say that BTC can't be remotely seized.

Re: For Sale: 50,000 Bitcoins

#110
post #2

I don't have a deep grasp of Civil Forfeiture but it seems like this is unusual considering DPR has not been convicted of anything yet. Is this part of a plea bargin or something similar?

you don't need to be guilty of anything for being victim of civil forfeiture.. they create a lawsuit against your property and property is considered guilty until proven innocent, unlike people.
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