3 ms·

If the government seizes $5B in cash, do they have a responsibility to invest it in bonds or something safe? And if the government seizes $5B in something peri

If the government seizes $5B in cash, do they have a responsibility to invest it in bonds or something safe? And if the government seizes $5B in something perishable like pumpkins, does it have a responsibility to offload those seized items before they're worth nothing? Bitcoin doesn't exactly suffer from the problem pumpkins do, but I'm curious where that divide is between, "we've put it in the evidence locker" and "it will decay to nothing so we need to act on it, even if the legal matters have yet to be resolved."

TuringNYC 3y ago
>> If the government seizes $5B in cash, do they have a responsibility to invest it in bonds or something safe? IMHO Yes! The Government holding BTC indefinitely is equivalent to just taking it off the market and enriching all existing BTC owners by increasing scarcity.
hooverd 3y ago
They need to seize $5M in pumpkin pie spice along with them.
- seanhunter 3y ago
  This would be a good time of year to be long pumpkin pie spice I feel.
ninkendo 3y ago
> And if the government seizes $5B in something perishable like pumpkins, does it have a responsibility to offload those seized items before they're worth nothing? Related: https://en.wikipedia.org/wiki/Government_cheese https://en.wikipedia.org/wiki/Government_cheese
- qingcharles 3y ago
  I get government cheese from the food pantries every now and again. It makes my day because cheese is usually too expensive for me to buy. I get the one in the photo at the bottom of the page. It is kinda like Velveeta, I guess. It has a very low melting point and a very mild flavor. You can make grilled cheese with it, but it tends to all spill out of the sides.
seanhunter 3y ago
The rules both of forfeiture and what they are and aren't supposed to do with seized assets are here https://www.justice.gov/criminal-afmls/file/839521/download https://www.justice.gov/criminal-afmls/file/839521/download Cryptocurrency is actually specifically mentioned.

TuringNYC 3y ago

>> If the government seizes $5B in cash, do they have a responsibility to invest it in bonds or something safe? IMHO Yes! The Government holding BTC indefinitely is equivalent to just taking it off the market and enriching all existing BTC owners by increasing scarcity.

hooverd 3y ago

They need to seize $5M in pumpkin pie spice along with them.

seanhunter 3y ago
This would be a good time of year to be long pumpkin pie spice I feel.

ninkendo 3y ago

> And if the government seizes $5B in something perishable like pumpkins, does it have a responsibility to offload those seized items before they're worth nothing? Related: https://en.wikipedia.org/wiki/Government_cheese https://en.wikipedia.org/wiki/Government_cheese

qingcharles 3y ago
I get government cheese from the food pantries every now and again. It makes my day because cheese is usually too expensive for me to buy. I get the one in the photo at the bottom of the page. It is kinda like Velveeta, I guess. It has a very low melting point and a very mild flavor. You can make grilled cheese with it, but it tends to all spill out of the sides.

seanhunter 3y ago

The rules both of forfeiture and what they are and aren't supposed to do with seized assets are here https://www.justice.gov/criminal-afmls/file/839521/download https://www.justice.gov/criminal-afmls/file/839521/download Cryptocurrency is actually specifically mentioned.