Bitcoin Forum

Bitcoin => Press => Topic started by: gweedo on October 02, 2013, 03:51:43 PM



Title: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: gweedo on October 02, 2013, 03:51:43 PM
http://techcrunch.com/2013/10/02/fbi-seize-deep-web-marketplace-silk-road-arrest-owner/

Quote
The feds have caught up to the Silk Road. The underground website long known for drug trafficking was seized by the FBI who also arrested the owner on three criminal counts. Prosecutors charged Ross William Ulbricht with one count each of narcotics trafficking conspiracy, computer hacking conspiracy and money laundering conspiracy, according to a court filing.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 02, 2013, 04:00:36 PM
And I was just about to post this -.- LOL!
Nice!
That sucks for all us pot heads!


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: Peter Lambert on October 02, 2013, 04:05:21 PM
This just opens up a spot in the market, there will be other services which will replace Silk Road. The war on drugs will never be won.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 02, 2013, 04:09:24 PM
There's already Atlantis though I'm not sure if its still in service. I visited those sites out of curiosity a couple times.
Never actually bought anything though I did eventually want to sell some clothing on there. I liked the idea of a really free market. Free of restrictions. Too bad someone always has to fuck shit up.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: gweedo on October 02, 2013, 04:11:03 PM
There's already Atlantis though I'm not sure if its still in service. I visited those sites out of curiosity a couple times.
Never actually bought anything though I did eventually want to sell some clothing on there. I liked the idea of a really free market. Free of restrictions. Too bad someone always has to fuck shit up.

Altantis shut itself down, cause of Silk Road. They never gained the traction.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: favdesu on October 02, 2013, 04:17:12 PM
More sources:

http://rt.com/usa/silk-road-bitcoin-shut-650/

http://www.bbc.co.uk/news/technology-24373759

http://gizmodo.com/feds-seize-silk-road-everybodys-favorite-illegal-drug-1440172693

question is, how will the btc price react?


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 02, 2013, 04:22:46 PM


question is, how will the btc price react?

Exactly! That's what I'm worried about. I just hope that mainstream adoption has surpassed the adoption of criminals and drug dealers. LOL!
Otherwise its time to SELL! SELL! SELL!


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: gweedo on October 02, 2013, 04:24:20 PM


question is, how will the btc price react?

Exactly! That's what I'm worried about. I just hope that mainstream adoption has surpassed the adoption of criminals and drug dealers. LOL!
Otherwise its time to SELL! SELL! SELL!

As much as I want it to go down, so I can stock up on a bunch of coins, it wouldn't. The price is too stable once VC's are in the economy we are pretty strong.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: Fabrizio89 on October 02, 2013, 04:27:55 PM
There are many whales waiting for a bottom to invest. There were pretty big news regarding investment opportunities in Bitcoin recently. I think the price will probably go down on this news, but not that much. I'm not telling you not to sell anyway.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 02, 2013, 04:29:04 PM


question is, how will the btc price react?

Exactly! That's what I'm worried about. I just hope that mainstream adoption has surpassed the adoption of criminals and drug dealers. LOL!
Otherwise its time to SELL! SELL! SELL!

As much as I want it to go down, so I can stock up on a bunch of coins, it wouldn't. The price is too stable once VC's are in the economy we are pretty strong.

Lets hope so.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: alnoor1231 on October 02, 2013, 04:29:36 PM
What will become of bitcoin now?????


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: pedrog on October 02, 2013, 04:30:35 PM
Is Black Market Reloaded still operating?


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 02, 2013, 04:34:35 PM
What will become of bitcoin now?????

We must be patient and find out my friend.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: alnoor1231 on October 02, 2013, 04:37:06 PM
Big red candles forming on BTC-e....


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: Seth Otterstad on October 02, 2013, 04:42:10 PM
Does this whole story seem fishy to anyone else?  The takedown notice has a freaking camel in it (like it is a joke), the only corroborating source is krebs, the government agencies happen to be in a shutdown state and unable to respond for comment, DPRs account was last active at 8:54pm last night (after he was supposedly arrested), and the section of code cited in the notice is for CIVIL forfeiture.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: alnoor1231 on October 02, 2013, 04:52:26 PM
http://rt.com/usa/silk-road-bitcoin-shut-650/

Reuters... It must be true


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: MisO69 on October 02, 2013, 06:13:14 PM
Didn't the price of BTC drop suddenly when Atlantis went down? Now this. I suspect the price will drop again once this get all over the news. As for copycat sites, there are some already. The have been trying to compete with Silk Road, a few even allow firearms!



Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: Bitware on October 02, 2013, 06:14:48 PM
http://rt.com/usa/silk-road-bitcoin-shut-650/

Reuters... It must be true

That is Russia Today, not Reuters. Reuters only provided the picture of a guy using a laptop.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: Nagle on October 02, 2013, 07:17:48 PM
Here's the FBI''s criminal complaint. (http://krebsonsecurity.com/wp-content/uploads/2013/10/UlbrichtCriminalComplaint.pdf)  This is good reading.  At one point, Ulbricht had a problem with someone blackmailing him. So he asked for quotes on a "hit". Then he tried to negotiate the price down. ""Not long ago I had a clean hit done for $80K. Are the prices you quoted the best you can do? I need this done asap as he is talking about releasing the info on Monday."

The FBI now has the Silk Road servers. They will probably go after some customers.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: bobdude17 on October 02, 2013, 07:48:03 PM
Go to Google News and type in Bitcoin.

Like every news outlet on earth is picking this story up.

Any publicity is good publicity?


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: plaxant on October 02, 2013, 08:04:06 PM
this is screaming fake to me. Look at the images! I posted them at plaxant (http://plaxant.com/something-fishy-silk-road-seizure/)



Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: TraderTimm on October 02, 2013, 08:05:44 PM
Dread Pirate Roberts got caught because he was an idiot.

There will be other sites, I'm sure. He was outed by his own incompetence, using real information, inconsistent (if any) security procedures. Hell, was the man stoned all the time? That's the only way I can understand his copious and rather embarrassing errors.

It will be a hit on the image, I'm sure - but the network is still running, and SR isn't the only game in town for Bitcoin transactions. Even if it was a catalyst to get us to where we are now, it isn't the single thing that will "kill" Bitcoin, in my opinion.



Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: dree12 on October 02, 2013, 08:06:23 PM
It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote
Bitcoin, the currency used primarily by drug dealers...


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: pedrog on October 02, 2013, 08:11:35 PM
It's bullshit, there's a guy in a camel there!


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: kibblesnbits on October 02, 2013, 10:15:16 PM
Go to Google News and type in Bitcoin.

Like every news outlet on earth is picking this story up.

Any publicity is good publicity?


I like your avatar...

80 million for DPR, 80 million for Walter White.  I wonder if DPR buried a thumbdrive somewhere in New Mexico...


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: meanig on October 02, 2013, 11:16:54 PM
Here's the FBI''s criminal complaint. (http://krebsonsecurity.com/wp-content/uploads/2013/10/UlbrichtCriminalComplaint.pdf)  This is good reading.  At one point, Ulbricht had a problem with someone blackmailing him. So he asked for quotes on a "hit". Then he tried to negotiate the price down. ""Not long ago I had a clean hit done for $80K. Are the prices you quoted the best you can do? I need this done asap as he is talking about releasing the info on Monday."

The FBI now has the Silk Road servers. They will probably go after some customers.

Fuck me Nagle is back!!  :D

For anyone who wasn't around in 2011 have a look at Nagle's posts from back then  ;D

His arrogant and unashamedly wrong analysis pointed to Bitcoin having a negative value by December 2011  ::)

What a fool  :D


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: BitChick on October 02, 2013, 11:19:06 PM
It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote
Bitcoin, the currency used primarily by drug dealers...

I hope that over the long term this is good for BTC.  I want BTC to be legitimately used for good but we will see how much some of the "dark side" of BTC was holding up the price.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: dree12 on October 12, 2013, 06:18:29 PM
It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote
Bitcoin, the currency used primarily by drug dealers...

I hope that over the long term this is good for BTC.  I want BTC to be legitimately used for good but we will see how much some of the "dark side" of BTC was holding up the price.

Today, price has rebounded to where it was before the seizure. The takeaway?

  • The "dark side" of Bitcoin was not holding up the price significantly.
  • However, many people thought it was and panic sold.

This is further evidence that the media, and often Bitcoiners themselves, give far too much credit to Silk Road and other "dark side" markets. Those are not important for Bitcoin, for they make up a minimal amount of trade (after the Silk Road closure, transaction volume has not declined).


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 13, 2013, 06:22:03 AM
I wonder if DPR buried a thumbdrive somewhere in New Mexico...

LOL!  ;D


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 13, 2013, 06:25:17 AM
It is good publicity. It means Bitcoin has moved beyond illegal drug trade. No longer will media herald:

Quote
Bitcoin, the currency used primarily by drug dealers...

I hope that over the long term this is good for BTC.  I want BTC to be legitimately used for good but we will see how much some of the "dark side" of BTC was holding up the price.

Today, price has rebounded to where it was before the seizure. The takeaway?

  • The "dark side" of Bitcoin was not holding up the price significantly.
  • However, many people thought it was and panic sold.

This is further evidence that the media, and often Bitcoiners themselves, give far too much credit to Silk Road and other "dark side" markets. Those are not important for Bitcoin, for they make up a minimal amount of trade (after the Silk Road closure, transaction volume has not declined).

They don't hold up Bitcoin's price anymore. Bitcoins has been invested in by many VCs and small business owners. If this shutdown would have occurred before 2013 it would've been catastrophic for Bitcoin.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: oakpacific on October 14, 2013, 09:00:00 AM
It's nearly inevitable that Ross Ulbricht will have many imitators/wannabes, one of them will build the next Silk Road.

Think about it, 600K BTCs, or 80 f**king million dollars of pure profits in no more than 3 years, unseizeable even by FBI, how many can resist such temptations?


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: Fabrizio89 on October 16, 2013, 01:35:06 PM
Is it confirmed anywhere that they have indeed seized that amount of coins or is it just media hype?


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: The 4ner on October 16, 2013, 09:29:40 PM
At this point I'm just glad that bitcoin's value didn't suffer significantly.


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: pedrog on October 16, 2013, 09:32:31 PM
Is it confirmed anywhere that they have indeed seized that amount of coins or is it just media hype?

http://blogs.reuters.com/unstructuredfinance/2013/10/14/fbi-not-waiting-for-silk-road-owners-bitcoin-pword/


Title: Re: 2013-10-02 FBI Seize Deep Web Marketplace Silk Road, Arrest Owner
Post by: oakpacific on October 17, 2013, 01:32:20 AM
Is it confirmed anywhere that they have indeed seized that amount of coins or is it just media hype?

http://blogs.reuters.com/unstructuredfinance/2013/10/14/fbi-not-waiting-for-silk-road-owners-bitcoin-pword/

We don't need to listen to what FBI has to say, we can just check for ourselves. ;)