2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner

oakpacific

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Quote from: pedrog on October 16, 2013, 04:32:31 PM

Quote from: Fabrizio89 on October 16, 2013, 08:35:06 AM

Is it confirmed anywhere that they have indeed seized that amount of coins or is it just media hype?

http://blogs.reuters.com/unstructuredfinance/2013/10/14/fbi-not-waiting-for-silk-road-owners-bitcoin-pword/

We don't need to listen to what FBI has to say, we can just check for ourselves. Wink

pedrog

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Quote from: Fabrizio89 on October 16, 2013, 08:35:06 AM

Is it confirmed anywhere that they have indeed seized that amount of coins or is it just media hype?

http://blogs.reuters.com/unstructuredfinance/2013/10/14/fbi-not-waiting-for-silk-road-owners-bitcoin-pword/

The 4ner

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R.I.P Silk Road 1.0

At this point I'm just glad that bitcoin's value didn't suffer significantly.

Fabrizio89

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Is it confirmed anywhere that they have indeed seized that amount of coins or is it just media hype?

oakpacific

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It's nearly inevitable that Ross Ulbricht will have many imitators/wannabes, one of them will build the next Silk Road.

Think about it, 600K BTCs, or 80 f**king million dollars of pure profits in no more than 3 years, unseizeable even by FBI, how many can resist such temptations?

The 4ner

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R.I.P Silk Road 1.0

Quote from: dree12 on October 12, 2013, 01:18:29 PM

Quote from: BitChick on October 02, 2013, 06:19:06 PM

Quote from: dree12 on October 02, 2013, 03:06:23 PM

It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote

Bitcoin, the currency used primarily by drug dealers...

I hope that over the long term this is good for BTC. I want BTC to be legitimately used for good but we will see how much some of the "dark side" of BTC was holding up the price.

Today, price has rebounded to where it was before the seizure. The takeaway?

The "dark side" of Bitcoin was not holding up the price significantly.
However, many people thought it was and panic sold.

This is further evidence that the media, and often Bitcoiners themselves, give far too much credit to Silk Road and other "dark side" markets. Those are not important for Bitcoin, for they make up a minimal amount of trade (after the Silk Road closure, transaction volume has not declined).

They don't hold up Bitcoin's price anymore. Bitcoins has been invested in by many VCs and small business owners. If this shutdown would have occurred before 2013 it would've been catastrophic for Bitcoin.

The 4ner

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R.I.P Silk Road 1.0

Quote from: kibblesnbits on October 02, 2013, 05:15:16 PM

I wonder if DPR buried a thumbdrive somewhere in New Mexico...

LOL!

dree12

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Quote from: BitChick on October 02, 2013, 06:19:06 PM

Quote from: dree12 on October 02, 2013, 03:06:23 PM

It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote

Bitcoin, the currency used primarily by drug dealers...

I hope that over the long term this is good for BTC. I want BTC to be legitimately used for good but we will see how much some of the "dark side" of BTC was holding up the price.

Today, price has rebounded to where it was before the seizure. The takeaway?

The "dark side" of Bitcoin was not holding up the price significantly.
However, many people thought it was and panic sold.

This is further evidence that the media, and often Bitcoiners themselves, give far too much credit to Silk Road and other "dark side" markets. Those are not important for Bitcoin, for they make up a minimal amount of trade (after the Silk Road closure, transaction volume has not declined).

BitChick

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Quote from: dree12 on October 02, 2013, 03:06:23 PM

It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote

Bitcoin, the currency used primarily by drug dealers...

I hope that over the long term this is good for BTC. I want BTC to be legitimately used for good but we will see how much some of the "dark side" of BTC was holding up the price.

meanig

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Quote from: Nagle on October 02, 2013, 02:17:48 PM

Here's the FBI''s criminal complaint. This is good reading. At one point, Ulbricht had a problem with someone blackmailing him. So he asked for quotes on a "hit". Then he tried to negotiate the price down. ""Not long ago I had a clean hit done for $80K. Are the prices you quoted the best you can do? I need this done asap as he is talking about releasing the info on Monday."

The FBI now has the Silk Road servers. They will probably go after some customers.

Fuck me Nagle is back!! Cheesy

For anyone who wasn't around in 2011 have a look at Nagle's posts from back then Grin

His arrogant and unashamedly wrong analysis pointed to Bitcoin having a negative value by December 2011 Roll Eyes

What a fool Cheesy

kibblesnbits

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Quote from: bobdude17 on October 02, 2013, 02:48:03 PM

Go to Google News and type in Bitcoin.

Like every news outlet on earth is picking this story up.

Any publicity is good publicity?

I like your avatar...

80 million for DPR, 80 million for Walter White. I wonder if DPR buried a thumbdrive somewhere in New Mexico...

pedrog

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It's bullshit, there's a guy in a camel there!

dree12

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It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote

Bitcoin, the currency used primarily by drug dealers...

TraderTimm

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Dread Pirate Roberts got caught because he was an idiot.

There will be other sites, I'm sure. He was outed by his own incompetence, using real information, inconsistent (if any) security procedures. Hell, was the man stoned all the time? That's the only way I can understand his copious and rather embarrassing errors.

It will be a hit on the image, I'm sure - but the network is still running, and SR isn't the only game in town for Bitcoin transactions. Even if it was a catalyst to get us to where we are now, it isn't the single thing that will "kill" Bitcoin, in my opinion.

plaxant

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this is screaming fake to me. Look at the images! I posted them at plaxant

bobdude17

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Go to Google News and type in Bitcoin.

Like every news outlet on earth is picking this story up.

Any publicity is good publicity?

Nagle

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Here's the FBI''s criminal complaint. This is good reading. At one point, Ulbricht had a problem with someone blackmailing him. So he asked for quotes on a "hit". Then he tried to negotiate the price down. ""Not long ago I had a clean hit done for $80K. Are the prices you quoted the best you can do? I need this done asap as he is talking about releasing the info on Monday."

The FBI now has the Silk Road servers. They will probably go after some customers.

Bitware

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weaving spiders come not here

Quote from: alnoor1231 on October 02, 2013, 11:52:26 AM

http://rt.com/usa/silk-road-bitcoin-shut-650/

Reuters... It must be true

That is Russia Today, not Reuters. Reuters only provided the picture of a guy using a laptop.

MisO69

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My mule don't like people laughing

Didn't the price of BTC drop suddenly when Atlantis went down? Now this. I suspect the price will drop again once this get all over the news. As for copycat sites, there are some already. The have been trying to compete with Silk Road, a few even allow firearms!

alnoor1231

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http://rt.com/usa/silk-road-bitcoin-shut-650/

Reuters... It must be true

Topic: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner (Read 4818 times)