Originally Posted by lowfiwhiteguy
I'm surprised that even with all the resources available to the FBI, they can't hack a password.
Well implemented, publicly available, encryption, combined with a good password is secure from anyone
Originally Posted by Jindaman
the guy who owned it try to hire a hitman.
Yeah, the founder was seriously reckless and did many stupid things. Otherwise the Silk Road would never have gone down.
Not that it matters for most. There is still significant demand for such services, and it's successors are already starting to pick up the slack.
Originally Posted by Dyson Poindexter
Is there any way to "void out" all the coins the FBI has? Seems that if they stole them they shouldn't be able to use them, even if they had the password.
No, and such a thing would be highly undesirable. A major part of the appeal of Bitcoin is that there is no centralized control, therefore anyone with the correct information in their wallet can spend the bitcoins.
Bitcoins aren't discrete units either, unless they are transferred as such. You can't void out coins without voiding all the transactions that led to their accumulation, which are stored on every single system running a full bitcoin client.
Basically, you need to treat your Bitcoins like cash or gold, in a sense, because whoever holds them holds them. It doesn't matter how they got them, there is no real recourse if you lose them. Of course the key difference here is that good encryption is a near perfect defense for electronic data, where as physical defenses for physical currency or goods never come close to this.
That said, the FBI may not have confiscated anything if they cannot spend them.
If this guy wasn't a total fool, he has a backup somewhere, and when he has the opportunity to access it again, he will transfer/spend them, and this will render the data in the FBI's wallet obsolete, which means they won't have anything. You cannot double spend Bitcoins, and the FBI cannot force the whole world to revert to an older version of the block chain.
Originally Posted by kpriess
Well, couldn't he have a wallet.dat backup spread on the cloud, maybe, encrypted and just re-access the funds whenever the situation settles down..?
I could send everyone on the planet an encrypted copy of my wallet.dat and they would have exactly nothing, because I would be the only one who could spend my bitcoins. As soon as I spent them, and the transactions were confirmed, they would be a permanent part of the block chain, and all the old copies of my wallet would be worthless, even with the password.Edited by Blameless - 10/27/13 at 4:24pm