http://wrte.io/howitworks

this is pretty cool. very different from what everyone else is doing and demonstrates the concept of using bitcoin to filter out spam.

If it's such chump change for the feds.. why didn't they just auction all the coins off at once?

I'm not saying they are playing games... but anyone who says they wouldn't play games because it's chump change is obv wrong because they are taking the time to get what they feel will net them the most money.

Hell they should have just thrown away they key on those coins because it's pennies.

C'mon man it's atleast plausible (read: super likely but I'm being generous) they can sell in blocks but not be manipulating the price on an exchange. That's just ocamms razor.

I'm not saying it's out of the question but there's just no motivation for an employee to be doing this when they don't receive any direct compensation. I'd put someone with access straight up stealing the keys and running to a new country to be more likely.

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Were talking about the feds here. The same people who staged an assassination with dread pirate. The same people who shut down poker sites and took the money and are paying back some of it years later ONLY because PokerStars bought them. The millions taken from processors went where? He'll I'm still waiting for my 55k from them, another 25k from ub but that's obv long gone. Don't underestimate what these ****s might do.

http://www.bloomberg.com/news/articl...rnment-auction

This article is worthless. I could release an article saying I didn't win any coins and I didn't bid and it would tell you about the same amount of info.

You are a bull on bitcoin so I'm guessing somehow you think this is a bullish article?

Because there are different seizures with different rules that govern them.

And no, they cannot just throw away the key because there are rules they need to follow.

Trying to capture a criminal is not the same as manipulating a market.

Power plays are not the same as fund raising.

So you think there is a rule that says they need to take time to sell them off months apart and they wouldn't be allowed to sell off the 100kish coins they had left in 1 auction. I'd like to see that rule.

Coins were seized from different sources. And there are rules that govern how to auction off property seized as part of crimes. But you are right, it was probably a conspiracy to raise an extra $1M.

As Tom noted, they came from different sources.

The first batch of coins "belonged" to silk road. Since no one claimed to own silk road by last fall, the time frame to make such a claim expired and the feds could liquidate those coins.

The second batch of coins belonged to Ross. He made an agreement with the Feds to liquidate them because both parties were concerned about the dropping value. The money raised was placed on hold pending the outcome of the trial. If Ross had won, he would have got the money...obviously he didn't.

The remaining coins belonged to DPR. Once it was confirmed that DPR = Ross, then the coins were forfeited as part of the outcome of the trial. That large batch was split into 2 smaller batches as part of a grand conspiracy to raise a few extra dollars.

It's not a conspiracy.. it's ****ing common sense. You all make your little jokes but not 1 person has said a reason they broke up the coins that came from the same source other then to make more money.

They either did it to make more money or they like to take more time and do more work for the same amount of money.

Funny how some people just can't ever admit when they may have been wrong and then they just come out with stupid bs to try and justify their stance.

I guess viks post is actually correct if he takes the sarcasm out of the last line. They broke it down into multiple batches to raise extra money.. enough said.

It's the government, they take more time to do everything. Nothing is done efficiently. No one came up with a 'genius' plan to make an extra million dollars.

Also making extra money is not the only reason to break them apart.

- A smaller sized amount gives more people the chance to bid (effectively this increases winning price)

- Security

- Averages out btc price fluctuations when done at separate times

There are likely a number of possible reasons, but a giant scam is not one of them.

Big breakthrough in securing bitcoin - threshold signatures:
http://www.cs.princeton.edu/~stevena...shold_sigs.pdf

Software prototype demo:
https://www.youtube.com/watch?v=BPlGoM1rZOI

I'm not saying they broke it down to scam. I had said it would be possible for them to make more money by manipulating the market prior to auction. I didn't say they would.. I said it was possible. Then the main argument I got was that there was no way they would do that because they really don't give a **** about that little of money. Well that argument doesn't hold because they are clearly trying to maximize profits by breaking it down into smaller groups, therefore they do care about such a "small amount of money".

Not really a big breakthrough in security, which can similarly already be achieved with multisig (see Armory's implementation).

Section 4.3 of the paper details the differences.

Maybe, but not to the point where they would manipulate markets.

The subtle things can make a decent difference in practice wrt to privacy on the blockchain. More security from a practical standpoint than technical I suppose.

Yes, looks like privacy improvements and features useful in certain business operations. I was interpreting security as strictly resistance to theft.

Does anyone knows a reliable company who would offer prepaid credit cards in EUR that you can fund in BTC ?

Thanks....

I cant be the only one who actually finds it offensive, hilarious, confused, and intrigued at the same time when I see that our govt isn't paying a TX fee on all of these coin splits from the auction.

Hey guys, I've never bought bitcoins before but I want to buy a bunch with USD and I'm from Canada. I don't know much about how it works. Does anyone know what the safest Bitcoin exchange is for Canadians? How does it work for sending them money? Do I have to wire? Or is there a cheaper way? And what are some safe wallets available to me or whatever else I need to buy and hold bitcoins?

If you want an online canadian exchange the only one to my knowledge that is currently running is Quadriga CX. Not sure if you can deposit USD to them. May be better off converting to CAD then depositing.

edit: You can wire, money order, western union, go in person (vancouver) them money.

If you want to do it in USD, you can probably meet up with someone on localbitcoins and exchange them USD.

Can someone tell me what the scam is here

https://localbitcoins.com/ad/154624/...sh-just-say-go

He's paying about 20% above spot price, but has flawless trade history and over 500 transactions. Your getting a paypal cash card which is not reversible as far as I can tell. What's up here?