He is cooperating. He must be very very scared. This should end quick.
To get all sellers it should be more difficult, but I guess this is another case.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32393. (Read 26712386 times)
October 25, 2013, 02:36:19 PM
October 25, 2013, 02:34:42 PM
Big move upwards. Same relative volume.
Anyone else notice that the move upward on Mt Gox happened at almost exactly the same time that Bitstamp prices started showing up again on Bitcoinity? 
October 25, 2013, 02:32:30 PM
Big move upwards. Same relative volume.
October 25, 2013, 02:32:00 PM
They won't liquidate the coins on an exchange. They will be sold auction-style. Shouldn't impact exchanges too much, unless the buyer decides to move the coins to an exchange.
For sure, not over the exchange and by auction.....But they will need to find people to bid for these 144k coins and given the size, they will be happy to give them away at a discount. These coins will eventually hit the exchange and will influence the price then....
I would be not very confident in holding large amount of coins these days...
add those 29k coins from first weeks of October. that's about 174k coins
C'mon you guys.. The gov't won't get this solved for years, until then, the coins will just sit there..... The case has to be done with before they can seize them. Hes innocent until proven guilty.. lol.. Why would it be bad to hold a large number of coins now? the person or people that purchase them may just hold on to them...
It will be interesting to see if they change the rules (the old rulebook has already been taken off their website http://www.justice.gov/criminal/afmls/pubs/pdf/policy-manual-2013.pdf) so that they can keep their haul for the longer term. My preference is that they'd dump them in one hit tomorrow though that's not going to happen! I'm not that comfortable with that lot holding so many of our beloved coins!
October 25, 2013, 02:29:34 PM
Finally time to turn bitlisten.com back on. 
October 25, 2013, 02:24:31 PM
So we're going to $30 "again"? =)
It would be cool if we dropped like this. I wonder if Shroomskit managed to sell at the recent high.
yes, everyone likes a crash (no, really), but I was curious as to what allowed bitcoin to claw it's way back up after massive crashes, why didn't it die? It seems obvious to me now that silk road kept it going, and growing. Silk Road has gone - so what now?
SR is gone, sheepmarket and BMR seeing exponential growth. (AFAIK from people buying there SR merchants simply changed marketplaces and do the same as before)
Ullbricht in the media worldwide was cheap advertising for new consumers to learn that you can buy high quality stuff on the TOR network.
pandora's box opened and hdyra is grwoing more heads.
this is bullish news for adaption of btc as a blackmarket currency.
Which in turn is bearish news for BTC in general.
I'd like for BTC to get rid of that "label".
If I am out "preaching the gospel" or striking up a discussion with someone about BTC to someone that is not familiar with it at all or knows very little about it, 9 times out of 10 the conversation turns into me explaining that BTC is not only used to buy "drugs" and that "black markets" have liquidity in all currencies (fiat & crypto). I know the discussion has been beat into the ground but reading this made me resonate of how tired I get of the general ignorance of BTC being labeled the "Drug Currency".
On another note, the BTC this past week is an effing roller coaster ride. This volatility is beautiful in the eyes of a frequent trader. Its funny to think a few months back how comfortable I got with it consistently trending at the $110-$120 range.
Long time lurker on this thread, first time posting. Cheers
....this is also my answer everytime i hear the drugterm:
yes you can buy drugs/weapons/pedostuff, but you can do the same with fiat in the real world and it's even less traceable. (either way it can't be completely prevented)
as i said before, there's nothing one can do about this evolvement, it's a two-sided-sword.
internet is about freedom of speech and information for everyone and bitcoin about freedom of market without direct involvement of the banking system.
bitcoin is docking in economy where its advantages are most useful and unfortunately this can be a lot of illegal stuff atm.
society is currently not ready to handle the versatility on a wider scale and it will be a funtime to watch how things will turn out.
like a toddler figuring out the conducting benefits of gold. At first it's just a shiny rare metal....
kay i'm stopping here, too much OT for observer thread...
October 25, 2013, 02:22:57 PM
When the story broke, I thought bearish (locked-up coins hitting the market, people worried about the security of their BTC).
Now I think bullish (anti-fragile, right?):
1. This is the top story at forbes.com. The DPR/silkroad/bitcoin saga just got more interesting, and I think it will play out in public view for some time now. As more mainstream outlets pick up the story, the masses will learn a bit more about bitcoin and some will want to participate.
2. The US now has ~174,000 BTC. Does any other country own nearly this much? I don't know how things work in the upper echelons of political power, but for some reason I think other powerful nations might want to establish a position "just in case."
Now I think bullish (anti-fragile, right?):
1. This is the top story at forbes.com. The DPR/silkroad/bitcoin saga just got more interesting, and I think it will play out in public view for some time now. As more mainstream outlets pick up the story, the masses will learn a bit more about bitcoin and some will want to participate.
2. The US now has ~174,000 BTC. Does any other country own nearly this much? I don't know how things work in the upper echelons of political power, but for some reason I think other powerful nations might want to establish a position "just in case."
October 25, 2013, 02:21:14 PM
Looks like double bottom happened.
October 25, 2013, 02:16:07 PM
They won't liquidate the coins on an exchange. They will be sold auction-style. Shouldn't impact exchanges too much, unless the buyer decides to move the coins to an exchange.
For sure, not over the exchange and by auction.....But they will need to find people to bid for these 144k coins and given the size, they will be happy to give them away at a discount. These coins will eventually hit the exchange and will influence the price then....
I would be not very confident in holding large amount of coins these days...
add those 29k coins from first weeks of October. that's about 174k coins
C'mon you guys.. The gov't won't get this solved for years, until then, the coins will just sit there..... The case has to be done with before they can seize them. Hes innocent until proven guilty.. lol.. Why would it be bad to hold a large number of coins now? the person or people that purchase them may just hold on to them...
October 25, 2013, 02:11:06 PM
They won't liquidate the coins on an exchange. They will be sold auction-style. Shouldn't impact exchanges too much, unless the buyer decides to move the coins to an exchange.
For sure, not over the exchange and by auction.....But they will need to find people to bid for these 144k coins and given the size, they will be happy to give them away at a discount. These coins will eventually hit the exchange and will influence the price then....
I would be not very confident in holding large amount of coins these days...
add those 29k coins from first weeks of October. that's about 174k coins
October 25, 2013, 02:09:05 PM
They won't liquidate the coins on an exchange. They will be sold auction-style. Shouldn't impact exchanges too much, unless the buyer decides to move the coins to an exchange.
For sure, not over the exchange and by auction.....But they will need to find people to bid for these 144k coins and given the size, they will be happy to give them away at a discount. These coins will eventually hit the exchange and will influence the price then....
I would be not very confident in holding large amount of coins these days...
October 25, 2013, 02:08:02 PM
I'm really disappointed that he made it so easy for them to steal his wealth.
100% this.
Generate a paper wallet on an offline machine and hide it! It's not rocket science. He had zero failsafes in place. It's just another example of how complacent he got thanks to his ego.
October 25, 2013, 02:02:35 PM
http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/
FBI's wallet grows....
FBI's wallet grows....
Gravity is a concept until you experience it and then it's unquestionably reality and never questioned.
I need an official US government organization to say they control the private keys that hold those coins.
An official press release or statement from someone accountable to the public to take credit for SR closure.
With out that it is conjecture.
This has huge gravity but as a concept but it isn't reality yet, for all I know SR was a scam, and the coins aren't with Law Enforcement.
Either way this is crazy.
Figure Schumer will say something soon, imo. Plus they probably are not done, and nothing official till prelim hearing.
Could still be a SR scam until it isn't.
October 25, 2013, 01:48:39 PM
Shit! I hope they destroy them!
Im sure its nice for them to have a loaded gun to wave around too...lol
October 25, 2013, 01:46:29 PM
I'm really disappointed that he made it so easy for them to steal his wealth.
I said this somewhere else, but remember, the Gov't was watching him for months. Im sure they had every key stroke documented from late spring until the day they arrested him. I believe they started watching him around May or so...They were following his every move...(and keystroke)
October 25, 2013, 01:45:07 PM
Shit! I hope they destroy them!
October 25, 2013, 01:42:35 PM
The important question is when is the DPR trial? When will FBI sell those coins?
October 25, 2013, 01:41:28 PM
I'm really disappointed that he made it so easy for them to steal his wealth.
October 25, 2013, 01:40:03 PM
So the FBI's ETF is bigger than twins. Do they need to file the papers too?
pussy pirate
pussy pirate
Either that or he was sloppy, which given what I've read so far, would not surprise me. Oh well, welcome to Bitcoin penury Mr. Ulbricht.
October 25, 2013, 01:35:40 PM
So the FBI's ETF is bigger than twins. Do they need to file the papers too?
pussy pirate
pussy pirate
Either that or he was sloppy, which given what I've read so far, would not surprise me. Oh well, welcome to Bitcoin penury Mr. Ulbricht.
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