in the days of silk road(2011). there were not even 9.5mill coins in total of the whole bitcoin network
(mid 2012 the network reached 10.5m, yet... minus satoshis stash would again be under 9.5m)
and no not all coins went through silk road
law enforcement only seized about 150k coins.
fungibility/taint is not a simple yes/no . its a % of suspicion
using a mixer actually adds more % risk of suspicion and definitely gets you put on a watch list.
Topic: 9.5 million flagged bitcoins - page 2. (Read 298 times)
is it safe to buy bitcoins from these 9.5million btc (maybe from 9.5million flagged btc)
If these "flags" had any real meaning, what would happen with coins seized by the US government? They would have to destroy it and never sell it.
What happens when you buy these coins from the government, because many people bought seized coins on auctions?
Don't you have more serious things to worry about? Every single day some US dollars are used to buy drugs. Do you worry that you could get some of these and give your kid as lunch money?
The accounts can be flagged but not the particular Bitcoin. Bitcoin doesn't have an unique identifier which they can track, but an account which holds the Bitcoin does.
So, people use Mixers to clean these sort of Bitcoins to new accounts and try to get rid of previous connections. That way, you don't have to worry about SEC or Govt.
As a normal person who is buying it from an exchange, you don't have to worry about it.
So, people use Mixers to clean these sort of Bitcoins to new accounts and try to get rid of previous connections. That way, you don't have to worry about SEC or Govt.
As a normal person who is buying it from an exchange, you don't have to worry about it.
The U.S government control most of the money forfeited in the silk road and what they seized from James Zhong, and they have even started liquidating it [1], i guess they are no longer 'flagged' or 'tainted' now that it's the U.S government that's liquidating the funds and you're free to buy it 
. The term flagged or tainted BTC is not part of the BTC network or protocol, it is from pro censorship institutions that want to spread their censorship to BTC.
[1] https://decrypt.co/125081/us-government-dumps-seized-silk-road-bitcoin
. The term flagged or tainted BTC is not part of the BTC network or protocol, it is from pro censorship institutions that want to spread their censorship to BTC.[1] https://decrypt.co/125081/us-government-dumps-seized-silk-road-bitcoin
Information source, please...
How do you identify the BTC coming from the Silk Road wallet? Or were the sales made directly into a private investor's wallet? If no, then as soon as the BTC enters an exchange account or wallet, it's the individual who deposited it and the exchange in question that's going to be at risk. If anyone ever purchases BTC from that exchange, the Silkroad BTC won't be linked to them because they might have mixed with other BTC on the exchange.
There is also a possibility of buying that coin and mixing it with any Bitcoin mixer out there, and the address might no longer be linked to your own.
How do you identify the BTC coming from the Silk Road wallet? Or were the sales made directly into a private investor's wallet? If no, then as soon as the BTC enters an exchange account or wallet, it's the individual who deposited it and the exchange in question that's going to be at risk. If anyone ever purchases BTC from that exchange, the Silkroad BTC won't be linked to them because they might have mixed with other BTC on the exchange.
There is also a possibility of buying that coin and mixing it with any Bitcoin mixer out there, and the address might no longer be linked to your own.
This news is ten years old. And it is safe to buy any bitcoins which is available for sale.
The concept of tainting coins is a centralization strategy which the government wants to use to control Bitcoin.
- Jay -
The concept of tainting coins is a centralization strategy which the government wants to use to control Bitcoin.
- Jay -
silkroad had made sales over 9.5Million BTC and revenue of around 600,00 BTC,
are this 9.5 million BTC are flagged by US government? is it safe to buy bitcoins from these 9.5million btc (maybe from 9.5million flagged btc)
are this 9.5 million BTC are flagged by US government? is it safe to buy bitcoins from these 9.5million btc (maybe from 9.5million flagged btc)
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