[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Shocking Video Shows Ukrainian Refugee Fatally Stabbed On Charlotte Train By Career Criminal Man Identifies as Cat to Cop his video made her stop consuming sugar. Shot And Bothered - Restored Classic Coyote & Road Runner Looney Tunes Cartoon 1966 How to Prove the Holocaust is a Hoax in Under 2 Minutes ..And The Legacy Media Wonders Why Nobody Trusts Them "The Time For Real Change Is Now!" - Conor McGregor Urges Irish To Lobby Councillors For Presidential Bid Daniela Cambone: Danger Not Seen in 40+ Years Tucker Carlson: Whistleblower Exposes the Real Puppet Masters Controlling the State Department Democrat nominee for NJ Governor, says that she will push an LGBTQ agenda in schools and WILL NOT allow parents to opt out. Holy SH*T, America's blood supply is tainted with mRNA Thomas Massie's America First : A Documentary by Tom Woods & Dan Smotz Kenvue Craters On Report RFK Jr To Link Autism To Tylenol Use In Pregnancy All 76 weapons at China 2025 military parade explained. 47 are brand new. Chef: Strategy for Salting Steaks 'Dangerous' Chagas disease confirmed in California, raising concerns for Bay Area MICROPLASTICS ARE LINKED TO HEART DISEASE; HERE'S HOW TO LOWER YOUR RISK This Scholar PREDICTED the COLLAPSE of America 700 years ago I Got ChatGPT To Admit Its Antichrist Purpose "The CIA is inside Venezuela right now" Col Macgregor says regime change is coming Caroline Kennedy’s son, Jack Schlossberg, mulling a run. Florida Surgeon General Nukes ALL School Vaxx Mandates, Likens Them to Slavery Doc on High Protein Diet. Try for more plant based protein. ICE EMPTIES Amazon Warehouse… Prime Orders HALTED as ‘Migrant Workforce’ REMOVED Trump to ask SCOTUS to reverse E. Jean Carroll sex-abuse verdict Wary Of Gasoline Shortage, California Pauses Price-Gouging Penalty On Oil Companies Jewish activist Barbara Lerner Spectre calls for the destruction of European The Democrats Are Literally Making Stuff Up! Turn Dead Dirt Into Living Soil With IMO 4 Michael Knowles: Trump & Israel, Candace Owens, and Why Christianity Is Booming Despite the Attacks

World News
See other World News Articles

Title: Bulgaria Government Shocked To Discover It Owns $3 Billion In Bitcoin
Source: [None]
URL Source: http://www.zerohedge.com/news/2017- ... over-it-owns-3-billion-bitcoin
Published: Dec 10, 2017
Author: Tyler Durden
Post Date: 2017-12-10 02:19:33 by Horse
Keywords: None
Views: 50
Comments: 5

Bulgaria’s GDP is about $52.4 billion (2016), so it is quite a shock that the Bulgarian Government is sitting on an approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May.

Putting this into a little more glaring context, Bulgaria is holding 18% of the national debt in bitcoins...

Bulgarian law enforcement jointly worked with the Southeast European Law Enforcement Center (SELC), a regional organization comprised of 12 member states, to bust a sophisticated organized-crime network, arresting twenty-three Bulgarian nationals and seizing a total of 213,519 bitcoins.

Poster Comment:

There are only 1,000 people in the world with lots of Bitcoins. Some Bitcoins were destroyed or lost. One man lost $105 million on Bitcoin when he computer was tossed out during a move. A sale of this magnitude even over a period pf moths will stop Bitcoin from escalating so fast.

Post Comment   Private Reply   Ignore Thread  

#1. To: Horse (#0)

Interesting. It's hard to seize bitcoin, as one actually just obtains the encrypted wallet for the bitcoin, which is just a copy of the private key to the bitcoin data. Any intelligent organized crime network, or for that matter, anyone at all with huge amounts of bitcoin ought to have backup copies of that wallet so that in event a computer, tablet or smartphone is seized, the bitcoin can be xferred to a different wallet.

Perhaps the bust involved an infiltrator.

Pinguinite  posted on  2017-12-10   2:32:49 ET  Reply   Trace   Private Reply  

A sale of this magnitude even over a period pf moths will stop Bitcoin from escalating so fast.

It certainly increases supply. I don't know what the daily volume is of bitcoin that changes hands, but I suspect that bitcoin is largely uncirculated. I think most buyers are investors expecting bitcoin to continue in to orbit and beyond, even if they don't have a rational understanding of why they expect it to do that.

On the other hand, I think the bitcoin market is still largely untapped, and the more news there is about bitcoin, including this article, the more people are going to start getting off their duff and inquire about it.

Two night ago I started to open an account at an exchange that does bitcoin. They warned that approval for new accounts would take 15-20 days because they are backlogged on the KYC documentation checks.

That tells me people are lining up, still, to get in on bitcoin train, and if prices do fall back to under 10K for any reason, people will snarf it up.

Pinguinite  posted on  2017-12-10   2:44:41 ET  Reply   Trace   Private Reply  

Those 1,000 Bitcoin are probably crazed hoarders. Now is the time to get into silver. The US is about to go down.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2017-12-10   3:01:19 ET  Reply   Trace   Private Reply  

Those 1,000 Bitcoin are probably crazed hoarders. Now is the time to get into silver. The US is about to go down.

The US has been about to go down for about the last 20 years. Though silver would be the metal to get into.

Because trading volume is still small, the big hoarders really can't liquidate their entire holding for face value for the same reason the Chinese can't easily sell all their Treasury bonds. They'd crash the market and only realize a fraction of the initial worth. So they have a motive and interest in not dumping.

Now if it's someone that has lots of it and wants to trash the bitcoin market, it's another story. But the only villain I have ever seen willing to trash their own fortune is the Joker from one fo the Batman movies. (The scene where he burns a mountain of cash just for the hell of it).

BTW, I looked this story up, and it seems the Bulgarian gov is denying it has these bitcoins. Perhaps they were donated to an orphanage.

Pinguinite  posted on  2017-12-10   3:26:29 ET  Reply   Trace   Private Reply  

Maybe the Bitcoins took a trip to a warmer climate. Bulgaria is cold this time of year.

China is dumping US Treasuries by pledging them as securities. They will use them to buy a share of Aramco which is not worth that much. But as part of the deal they could force the Saudis to only sell for yuan and euros.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2017-12-10   3:34:38 ET  Reply   Trace   Private Reply  

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]