NO SIGNAL

law and technology and rock and roll

recent | past | about | rss

Things the FBI could do with the seized bitcoins

Posted by Matt on October 04, 2013         Tagged with: crime, tech, bitcoins

When the FBI took down the Silk Road, they didn't just arrest its owner. They also seized the 26,000 bitcoins that the site controlled at that moment. At the current exchange rates, that's a little over $3.5 million. Over at Forbes, Kashmir Hill reports that they're not entirely sure what to do with all those bitcoins. They'll probably just "liquidate" them.

I have some better ideas.

This isn't the first time Kashmir Hill has written about bitcoins for Forbes. A few months back she performed an experiment where she lived solely off bitcoins for a week. Her food, her rent, her transportation... all paid for in Bitcoins. Based on her writeup of that experience, here are some more interesting things the FBI could do with the seized bitcoins: