Fucking idiots. I mean, can you believe they also sold those magic beans they confiscated from Jack?
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I’m surprised that the Wiki article doesn’t mention “hang on for dear life”, which is a commonly-cited definition of hodl. It’s probably a back-formation, and the original use of “I’M HODLING” was, no doubt, due to inebriation - but it still explains the concept quite well.
In Canada the period between seizure and forfeiture can be years. Sometimes an agreement between the accused and the custodian allows the seized assets to be sold and the proceeds held in another form. This would make sense for depreciating assets but would be tricky for volatile ones.
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…or it could be far lower. Really, this is completely absurd.
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I assume they will promptly transfer any profits to the person from whom they seized the assets, since it’s only the original value that became the property of the government. Right? Right?
Well, there’s the problem.
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