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Feds confiscates bit coins. Bit coin supply is reduced. Price of bit coins goes up. Simple economics. Thanks feds. Has anyone figured out a good way to invest

by minimax 13y ago

Feds confiscates bit coins. Bit coin supply is reduced. Price of bit coins goes up. Simple economics. Thanks feds. Has anyone figured out a good way to invest pre-tax 401k money into bit coin? My portfolio is doing alright but I'd like to boost it up a little without resorting to gimmicks like high beta stocks or equity options.

tylerkahn 13y ago
Is this satire?
- knapp 13y ago
  Poe's Law strikes again. https://en.wikipedia.org/wiki/Poe's_law https://en.wikipedia.org/wiki/Poe's_law
- onebaddude 13y ago
  The constant flow of bitcoin articles on HN is starting to attract the delusional pumpers.
- minimax 13y ago
  Yes.
- nkohari 13y ago
  Yes, but I'm not sure the author knows.
Tarang 13y ago
If I worked for the feds how would I go about confiscating someone's bitcoins?
- fatman 13y ago
  "Give us your Bitcoin or goto Jail"? There's nothing new under the sun. People have tried to hide assets from courts in the past. Sometimes they succeed - while sitting in jail under a contempt citation.
- dllthomas 13y ago
  Malware. Or frame them for something.
- deleted 13y ago
  [deleted]
- PeterisP 13y ago
  Take all their hardware, storage media and notes (including online data storage services); interrogate the person; find out what accounts (and 3rd party sites) were involved from various sources including that interrogation, analysis of stored data, and internet wiretaps/logs to obtain the neccessary credentials, and transfer those bitcoins to a separate wallet that the feds control. If some bitcoins are stored at some 3rd party providers such as Mt Gox, subpoena them to freeze all such assets and transfer them to feds.
Aqueous 13y ago
The Feds eventually send it back to themselves and convert the BitCoins into dollars once they have all the information they need in evidence. So they don't permanently leave the supply. The BitCoins they were able to seize, that is.
nitrogen 13y ago
Though this is not a serious request, isn't there a Bitcoin ETF in the works?
- jerkface 13y ago
  Yes, the Winklevoss twins are (supposedly) putting one together. http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-say-bitcoin-market-to-hit-400b-urge-regulators-not-to-push-innovation-to-china/ http://www.forbes.com/sites/afontevecchia/2013/11/12/winklev... Edit: Jeebus, hellbanned already, and in only 3 comments. Guess one of my prior comments may have struck a nerve?
- nitrogen 13y ago
  jerkface 22 minutes ago | link [dead] Yes, the Winklevoss twins are (supposedly) putting one together. http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-say-bitcoin-market-to-hit-400b-urge-regulators-not-to-push-innovation-to-china/ http://www.forbes.com/sites/afontevecchia/2013/11/12/winklev... Edit: Jeebus, hellbanned already, and in only 3 comments. Guess one of my prior comments may have struck a nerve? ----- Your previous comment was rather inflammatory.

by minimax 13y ago

tylerkahn 13y ago

Is this satire?

knapp 13y ago
Poe's Law strikes again. https://en.wikipedia.org/wiki/Poe's_law https://en.wikipedia.org/wiki/Poe's_law
onebaddude 13y ago
The constant flow of bitcoin articles on HN is starting to attract the delusional pumpers.
minimax 13y ago
Yes.
nkohari 13y ago
Yes, but I'm not sure the author knows.

Tarang 13y ago

If I worked for the feds how would I go about confiscating someone's bitcoins?

fatman 13y ago
"Give us your Bitcoin or goto Jail"? There's nothing new under the sun. People have tried to hide assets from courts in the past. Sometimes they succeed - while sitting in jail under a contempt citation.
dllthomas 13y ago
Malware. Or frame them for something.
deleted 13y ago
[deleted]
PeterisP 13y ago
Take all their hardware, storage media and notes (including online data storage services); interrogate the person; find out what accounts (and 3rd party sites) were involved from various sources including that interrogation, analysis of stored data, and internet wiretaps/logs to obtain the neccessary credentials, and transfer those bitcoins to a separate wallet that the feds control. If some bitcoins are stored at some 3rd party providers such as Mt Gox, subpoena them to freeze all such assets and transfer them to feds.

Aqueous 13y ago

The Feds eventually send it back to themselves and convert the BitCoins into dollars once they have all the information they need in evidence. So they don't permanently leave the supply. The BitCoins they were able to seize, that is.

nitrogen 13y ago

Though this is not a serious request, isn't there a Bitcoin ETF in the works?

jerkface 13y ago
Yes, the Winklevoss twins are (supposedly) putting one together. http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-say-bitcoin-market-to-hit-400b-urge-regulators-not-to-push-innovation-to-china/ http://www.forbes.com/sites/afontevecchia/2013/11/12/winklev... Edit: Jeebus, hellbanned already, and in only 3 comments. Guess one of my prior comments may have struck a nerve?
nitrogen 13y ago
jerkface 22 minutes ago | link [dead] Yes, the Winklevoss twins are (supposedly) putting one together. http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-say-bitcoin-market-to-hit-400b-urge-regulators-not-to-push-innovation-to-china/ http://www.forbes.com/sites/afontevecchia/2013/11/12/winklev... Edit: Jeebus, hellbanned already, and in only 3 comments. Guess one of my prior comments may have struck a nerve? ----- Your previous comment was rather inflammatory.