Tag: Bitcoin

Marijuana Posted on

Pot from Above: San Francisco Entrepreneurs to Deliver Weed By Drone Using Bitcoin

San Francisco, CA — A company called Trees may soon represent the perfect confluence of technology, libertarianism, and enthusiasm for an ancient psychoactive plant. Trees, which currently delivers high-grade cannabis to the homes of Bay Area medical patients, wants to take this service to the next level by using drones for delivery. That in itself would be novel, but the kicker is that people could use Bitcoin—a cryptocurrency that exists outside of government control—for payment. When you press a button on your smartphone’s Bitswitch app, the drone will drop the neatly packaged product into your lap. That is, if CEO Marshall Hayner can get around the Federal Aviation Administration’s prohibition against using drone delivery for profit. Hayner is seeking a 333 exemption, which the FAA […] Read More

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2013: The FBI’s Plan For The Millions Worth Of Bitcoins Seized From Silk Road

Source: Forbes The FBI initially seized over 26,000 Bitcoins. I asked the FBI spokesperson what the plan is for those cryptocoins. “We will download the Bitcoin and store them,” she said. “We will hold them until the judicial process is over.” Then what? “This is kind of new to us,” she said. “We will probably just liquidate them.”[…] The spokesperson says the approximately 26,000 Bitcoins seized are just the ones that were held in Silk Road accounts. In other words, it’s Silk Road users’ Bitcoin. The FBI has not been able to get to Ulbricht’s personal Bitcoin yet. “That’s like another $80 million worth,” she said, explaining that it was held separately and is encrypted. If that is indeed what he’s holding, that’s close to […] Read More