Ross Ulbricht sentenced to life. Good or bad news? - page 2.

Hyena

legendary

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Quote from: gentlemand on May 30, 2015, 01:02:15 PM

That's a good question. I'm not sure whether they ever explicitly answered that. Considering he kept incriminating text file journals on his laptop it's possible he would've kept the coins unencrypted or even wrote the password somewhere there too. That's why they were so desperate to catch him with it operating.

I was wondering that perhaps they offered him lesser punishment if he gave them the keys but then didn't keep their word.

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

for bitcoin? just neutral, bitcoin was used there as tool...similar is to ask : "good or bad news for TOR" etc.

anyway, I didn't expect that he will spend rest of his life in prison.

HI-TEC99

legendary

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Quote from: gentlemand on May 30, 2015, 01:02:15 PM

Quote from: Hyena on May 30, 2015, 12:45:35 PM

Does anyone know how on earth did the LEs get that many bitcoins out from ross? Was ross seriously such an imbecile that he used some super weak password or had his coins unencrypted?

That's a good question. I'm not sure whether they ever explicitly answered that. Considering he kept incriminating text file journals on his laptop it's possible he would've kept the coins unencrypted or even wrote the password somewhere there too. That's why they were so desperate to catch him with it operating.

I've also seen regular mentions of another several hundred thousand coins. Does anyone know whether these are just turnover or whether they're supposed to be under his control too? His 180 something million dollar bill seems to relate to those. I'm not sure.

I read that he did a deal with the Feds in which he told them how to access his Bitcoins and agreed to let them sell his coins. In return they said that he could keep the money from the sale if he won his court case, and they could keep the money if he lost.

They probably showed him how far Bitcoin's price had fallen and basically said sell now or they will be worth a lot less by the time your court case is over.

defcon23

legendary

Activity: 1120

Merit: 1002

i think this sentence is a bit hard, to be honest.. dont forget DPR dont create SR : Variety jones did it.. Grin

oblivi

hero member

Activity: 700

Merit: 501

I think news like this are irrelevant, since SK^ad infinitum will keep popping up on the darknets for the rest of eternity. The problem would be if a legitimate business that was a major player on Bitcoin, went bankrupt, or committed fraud or something, but this is not the case. It was expected.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: Hyena on May 30, 2015, 12:45:35 PM

Does anyone know how on earth did the LEs get that many bitcoins out from ross? Was ross seriously such an imbecile that he used some super weak password or had his coins unencrypted?

That's a good question. I'm not sure whether they ever explicitly answered that. Considering he kept incriminating text file journals on his laptop it's possible he would've kept the coins unencrypted or even wrote the password somewhere there too. That's why they were so desperate to catch him with it operating.

I've also seen regular mentions of another several hundred thousand coins. Does anyone know whether these are just turnover or whether they're supposed to be under his control too? His 180 something million dollar bill seems to relate to those. I'm not sure.

Hyena

legendary

Activity: 2114

Merit: 1015

Does anyone know how on earth did the LEs get that many bitcoins out from ross? Was ross seriously such an imbecile that he used some super weak password or had his coins unencrypted?

redsn0w

legendary

Activity: 1778

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#Free market

I am thinking it is a neutral news, why should the price be affected by this news? Are you thinking a lot of people will dump their BTC due of hat news

. People should learn, that the bitcoin world is not more affected by the 'external' news: paypal, BTC adopted in XX country, etc... these things do not affect the price anymore.

TPTB_need_war

sr. member

Activity: 420

Merit: 262

It is very much expected that the individual incentives are to be more concerned about the Bitcoin price than the greater implications of this totalitarianism and Ross's plight.

Individuals do not prioritize the global optimization of the society, but rather our own selfish incentives.

anderson00673

sr. member

Activity: 308

Merit: 250

I don't think this will have an effect on price. Any price movements related to this story have played out long ago when the SR was taken down, and well before he was sentenced. The conviction is sort of the aftermath that everyone was expecting, even if they were not expecting such a long sentence.

goxed

legendary

Activity: 1946

Merit: 1006

Bitcoin / Crypto mining Hardware.

US justice system is working perfectly, and US is winning the war on drugs.

montreal

full member

Activity: 328

Merit: 100

I don't think there will be any immediate impact on price but articles about the sentence are featured on tons of sites right now (frontpage of yahoo/business insider/new york times/cnn money/wired/ etc). Its even on the front page of reddit and many of the comments are shockingly in favor of Ross and bitcoin. Might not be good or bad news for price but its definitely catching eyes

Malin Keshar

hero member

Activity: 616

Merit: 500

Neutral.

I don't even see the media's articles talking about tor and bitcoin, so no new people would buy or sell because of it, so no effect on prices and no new people attract or repelled.

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Neutral
If were talking about underground markets the price is impacted by the amount of working exchanges and their are still quite a few out there, what happened to a dealer may not impact the underground much, for new users it could be seen as either positive in that dealers are caught or negative if they percieve it as a risk of using Bitcoins.

randy8777

legendary

Activity: 896

Merit: 1000

can't see this having any impact on the price. the market shows zero impact as you can see. it's quite sad news for the dude himself.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Wow, he's properly screwed.

Cconvert2G36

sr. member

Activity: 392

Merit: 250

Bad news for Ross. Bad news for his family that spent everything on his defense.

Non-news for Bitcoin, especially bitcoin price. Undecided

DJ Crypto

member

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Merit: 10

The US goverment wanted to make an example out of Ulbricht by giving him life sentence so yeah the poor guy was fuked pretty hard.

gentlemand

legendary

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Welt Am Draht

The end of a long, long road and an important part of Bitcoin's history. That's all it is - history.

mcplums

full member

Activity: 146

Merit: 100

Quote from: samson on May 29, 2015, 06:06:43 PM

It's definitely bad news for him. Life and maximum security to boot.

This was a foregone conclusion from the moment he was arrested anyway.

The judge is a stooge, his own lawyer an ass and even those who were working to catch him were corrupt as fuck.

Murica Roll Eyes

I agree, an insane sentence. He was literally making the world a better place with silk road.

He was not making the world a better place by paying to get people killed, but he wasn't even charged with that, let alone convicted.

Topic: Ross Ulbricht sentenced to life. Good or bad news? - page 2. (Read 3136 times)