Topic: Silkroad closed down. Owner Arrested. - page 7. (Read 9649 times)
Who's to say that there won't be another SR? This should serve as a lesson. Centralized systems, even if clandestine, are easily brought down.
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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?
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"All told, the site has generated sales revenue totaling over 9.5 million Bitcoins and collected commissions from these sales totaling over 600,000 Bitcoins. Although the value of Bitcoins has varied significantly during the site's lifetime, these figures are roughly equivalent today to approximately $1.2 billion in sales and approximately $80 million in commissions."
Does this mean that 600,000 BTC (give or take) is off the "market"? Holy crap - if those coins are gone, the value could skyrocket!
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.
She'll be right. We'll be fine
no effect
Bitcoin economy now consists of speculation and machines to generate more bitcoin. Discuss.
http://krebsonsecurity.com/wp-content/uploads/2013/10/UlbrichtCriminalComplaint.pdf
http://www.reuters.com/article/2013/10/02/crime-silkroad-raid-idUSL1N0HS12C20131002
EDIT:
Personal comment/opinion: the only reason to go through the hassle of paying by bitcoin as opposed to paying by plastic just disappeared.
http://krebsonsecurity.com/wp-content/uploads/2013/10/UlbrichtCriminalComplaint.pdf
http://www.reuters.com/article/2013/10/02/crime-silkroad-raid-idUSL1N0HS12C20131002
EDIT:
Personal comment/opinion: the only reason to go through the hassle of paying by bitcoin as opposed to paying by plastic just disappeared.
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