no effect
lol
Topic: Silkroad closed down. Owner Arrested. - page 6. (Read 9649 times)
Bitcoin is much bigger than SR, in the long run this will be a good thing!
Not really. Most (all) of the sites that accept bitcoin directly, or through a payment processor, look like bodega shops.
Pretty much this.
Damn, BTC-E just hit 110.
Bitcoin is much bigger than SR, in the long run this will be a good thing!
Not really. Most (all) of the sites that accept bitcoin directly, or through a payment processor, look like bodega shops.
I know this is more to alt-coin forums, but since we're talking Silkroad, I know there's a Litecoin equivalent. And if it stay up, then I think a lot of people, drug addict, etc. will switch to it. I see LTC rise coming in!
Bitcoin is much bigger than SR, in the long run this will be a good thing!
This is crippling considering a bitcoin economy hardly exists. I wonder what happens / happened to the coins.
read the indictment. interesting.
http://nation.time.com/2013/10/02/alleged-silk-road-proprietor-ross-william-ulbricht-arrested-3-6m-in-bitcoin-seized/
http://nation.time.com/2013/10/02/alleged-silk-road-proprietor-ross-william-ulbricht-arrested-3-6m-in-bitcoin-seized/
It's like the Black Friday of poker in America 
The 600,000 BTC number is the total revenue from commissions SR ever made. It says the FBI seized BTC worth $3.6 Million US. Thats about ~25,500 BTC. Still a very significant amount of coin. In all likelihood they will destroy it. Or refuse to do anything with it since the people who make those decisions probably won't comprehend what bitcoin is or how to use it to benefit themselves.
Or they could dump it all to raise funds and crash the BTC market at the same time. That's alot of BTC in the hands of the Feds. That's the equivalent of a crypto nuclear bomb. Question is will they use it.
To be honest I hope they dump it. The Bitcoin community will survive that. I would rather the coins be bought up by bitcoin supporters during a crash than have them destroyed. And besides if anything this is going to draw MORE attention to bitcoin as more people find out that they can do illegitimate business with bitcoin.
Price will crash in a ditch.. anyone can see that. Silkroad made bitcoin and will break it in the short term 115 on btc-e and heading down. If you are in btc get out and buy back in at the bottom.
I wonder what information they will get? If there will be a string of arrest of vendors.
I wonder what information they will get? If there will be a string of arrest of vendors.
If they sell it and cause a flash crash, there are plenty in the wings waiting to pick them up.
This is undoubtedly going to cause a significant drop in price. The question is for how deep and how long before it rises back up again.
This is undoubtedly going to cause a significant drop in price. The question is for how deep and how long before it rises back up again.
The 600,000 BTC number is the total revenue from commissions SR ever made. It says the FBI seized BTC worth $3.6 Million US. Thats about ~25,500 BTC. Still a very significant amount of coin. In all likelihood they will destroy it. Or refuse to do anything with it since the people who make those decisions probably won't comprehend what bitcoin is or how to use it to benefit themselves.
Or they could dump it all to raise funds and crash the BTC market at the same time. That's alot of BTC in the hands of the Feds. That's the equivalent of a crypto nuclear bomb. Question is will they use it.
The 600,000 BTC number is the total revenue from commissions SR ever made. It says the FBI seized BTC worth $3.6 Million US. Thats about ~25,500 BTC. Still a very significant amount of coin. In all likelihood they will destroy it. Or refuse to do anything with it since the people who make those decisions probably won't comprehend what bitcoin is or how to use it to benefit themselves.
This is a big deal! Isn't this the largest contributor to Bitcoin transactions? I'd expect a huge selloff and rightfully so. Bitcoin just got crippled. I'm not saying permanently but this is a BFD. This affects the actual value of Bitcoin based on useablity and number of transactions. Eager to see how this plays out.
This affects the actual value of Bitcoin based on useablity and number of transactions. Eager to see how this plays out. 
It would be funny if the Government had Goldman S. crew sitting on the Bid buying it all the way down.
Dirty bastards... They would do that too.
I am wondering how he is NOT in jail?? Should the vendors/users be concerned... only time will tell.
Dirty bastards... They would do that too.
I am wondering how he is NOT in jail?? Should the vendors/users be concerned... only time will tell.
My prediction (i am never wrong): extreme volatility for 1-2 weeks, then mega-ultra-turbo crash, then bitcoin along with the entire crypto scene dies.
Quote
The FBI has also seized approximately $3.6m (£2,2m) worth of bitcoins - a virtual currency.
http://www.bbc.co.uk/news/technology-24373759The question then becomes. Will the US Government sell the BTC to pay its debts or hold?
That would be a nice BTC injection into the market. While it would drive price down a lot, it could increase volumes on the long term.
Just called the jail, he has been bailed out or is at least no longer there.
By he I mean Ross William Ulbricht
Call and check if you want too +1 (415) 553-1430
By he I mean Ross William Ulbricht
Call and check if you want too +1 (415) 553-1430
no effect
I think it will have an effect, there are some people who believe Silk road is a good portion of the Bitcoin market and they will probably sell.
Also those that want to profit from that fall will also sell.
So I guess we will see a selloff for a short time, but no crazy crash.
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