Bitcoin auction

Discussion in 'Digital Currencies' started by domdolittle, May 30, 2016.

  1. domdolittle

    domdolittle Active Member Silver Stacker

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    http://www.msn.com/en-au/news/austr...bitcoin-at-auction/ar-BBtCZlt?ocid=spartandhp

    Not quite sure how this gonna work out ?

    They are obviously not physical coins, the photo's only for dummies, how did they get them in the first place?

    Unless the person(s) had them on an unsecured wallet, or was forced to release them, it still does not ring right...

    Why keep them in such large amount, surely the owner would want to use bullet-proof wallets, like TREZOR or similar, in comfortable numbers, and encrypted recovery safely hidden...

    and there are other issues like, Fiscal and Identity etc.

    Certainly looks odd to me

    :cool:
     
  2. tozak

    tozak Well-Known Member Silver Stacker

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    Police used to do a drug bust and retrieve the Cash and the Drugs and then prosecute.

    Now they face better prepared criminals and don't get the funds because they are locked up in Bitcoin wallets, criminals are now able to negotiate the charges they will receive in exchange for giving up the Bitcoin. I can't think of any other asset class you could do this with, maybe buried (gold/diamonds/cash) but even that has it's limitations.
     

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