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re: The Bitcoin guy who was "busted" by the DEA says "Wasn't me, bro."
Posted on 7/9/13 at 3:49 pm to WikiTiger
Posted on 7/9/13 at 3:49 pm to WikiTiger
quote:Funny, but law enforcement uses the same terminology when they bust people using traditional cash in sting operations. Money freely transferred is still reported a seized because that indicates there is no intention to return it to anyone connected with the bust.
The use of the term "seize" implies that the Feds were able to get a hold of the coins without the owners consent. However, while no exact details have been released, the prevailing thought is that it was done through a sting operation where the individual willingly sent the bitcoins to the Feds and they are now keeping them, thus the "seizure."
Do you have evidence the government wasn't able to go into his wallet and take Bitcoins without his consent? To the best of my knowledge neither the feds nor the suspect have provided details of how the Bitcoins were seized. It could have been simply keeping the Bitcoins used in an attempted illicit transaction (most likely), or the feds could have figured out a the password used by the suspect to open his wallet (least likely but still possible). Which ever the fact that the Bitcoins were seized has got to lower the confidence of those contemplating using Bitcoins for illicit transactions.
0
Posted on 7/9/13 at 4:05 pm to Volvagia
quote:It's in the OP.
.link to where you got that?
quote:
it posted a forfeiture notice indicating that agents had seized 11.02 Bitcoins
You and I must be referring about two different things. Otherwise, one of us is crazy and I'm not crazy.
Posted on 7/9/13 at 4:07 pm to LSURussian
quote:
it posted a forfeiture notice indicating that agents had seized 11.02 Bitcoins
And at the time, those 11.02 bitcoins were valued at $814. What's the value now Russian?
Also, is that still about 11 more bitcoins than the board owns combined?
Posted on 7/9/13 at 4:15 pm to LSURussian
quote:
The government alleges that Charleston resident Eric Daniel Hughes used 11.02 Bitcoins in an attempted drug transaction on the Silk Road site.
So the DEA did what it does and apparently seized the funds, worth some $814.22.
LINK
So he transacted 11.02 and they seized yet another from the computer?
See what I mean by not taking a single reporter's word as gospel? It only gets worse if you start making assumptions and leaps of inferences on your own from that.
Posted on 7/9/13 at 7:23 pm to Volvagia
quote:I can see where that could be the case if he sold 11.02 btc worth of drugs. He received the 11.02 btc and that quantity was stored on his computer or on a flash drive.
So he transacted 11.02 and they seized yet another from the computer?
Posted on 7/10/13 at 5:34 am to gizmoflak
Haha I have some friends of friends with this guy.
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