Bitcoin Forum

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

100,000 BTC sent somewhere  :o

https://blockchain.info/tx/796684ce2c46c73eec4e67a4bd530603c2e0529855080187cde241a6b06c2a5b

Would not surprise me if someone working for the FBI claims their silk road bitcoins got hacked, after sending it to themselves  ;D

probably went to the IRS

Here we go... Let the theories begin...

http://reactiongifs.us/wp-content/uploads/2013/02/popcorn_stephen_colbert.gif

Oh man, great gif  ;D

Yeah, theory rampage ON!
Are they hacked? Are they Scammed? Are they buying stuff from Silkroad? Maybe Russians hacked em and sent BTC to themselves? Maybe Chinese? Probably Chinese, who are planning to crash BTC market with it by instaselling...

What if they sold it to someone and just sent it to the buyers wallet?

Oooor they want to buy more BTC, sent it from wallet to wallet in their possesion just to stea up the shit and when price drops because of it, they buy....

sorry guys, i bought them up at 400 bucks a piece. now I'm selling them all. stay tuned...

relax,  it's just gigahash 51%

Nice. :D

https://blockchain.info/tags has now tagged the new address (https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw) as "DPR Seized Coins 2", with a link to https://bitcoin.org/en/. They only allow such a link if the page contains the address in question. The site doesn't currently show that address, however. Did someone at the Bitcoin Foundation receive these coins, or simply take the opportunity to squat the link by temporarily adding the address to the page? I'm guessing the latter, but it would be incredible if the seized coins did end up in the hands of the Bitcoin Foundation!

I can't wait until the year 2051.

If Bitcoin is still up, we will turn from theories to an insane amount of conspiracy theories.

Or, that BTC was never in possesion of FBI...it's in hands of Fundation from start...maybe they were ones that stole it!

Nah.  A 51% attack doesn't allow you to create transactions without the private key.

You're thinking that the Foundation somehow gained access to the Silk Road private keys?

???

somebody in polo trollbox says the coins are in Brazil.  Is there an exchange in Brazil?

Anyone have any predictions they want to put coins on? This is exactly what we made BetMoose (https://www.betmoose.com) for!

No i'm thinking Fundation hacked Silkroad or even better, hacked  FBI and took BTC. Or Silkroad is owned by Fundation....or even something more crazier (wait i need to drink little bit more...will continue)

I've been waiting to use that GIF for so long :D


Nice shameless plug w/o content.
Too many variables.


Or it could just be funds were moved to a different wallet...


If so, someone must have a good amount of money. New multimillionaire backing Bitcoin by buying a huge amount?

Yeah, I think this is most likely all that happened. Some housekeeping to consolidate the coins.

Reminds me of this:

http://activelydisengaged.com/wp-content/uploads/2013/09/2013-06-12-ad75.jpg

Why DPR has moved 144.000 BTC from an address to another address? No sense  >:(

Is there the probability that DPR has sold his BTC to a private investor?

The power of bitcoin never ceases to amaze my.  Somewhere someone just signed that 100,000 BTC transaction and broadcast it to the network.  The nodes did their jobs and relayed it, and a miner (Polmine) included it in Block #305,458.  It's now a permanent part of history.  No one could have blocked it and now no one can reverse it.  

$60 million moved just like that: https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

Maybe they are just moving them to a mutlisig/split key wallet to increase security of the coins.

Here's the output script for the 100,000 BTC transfer:

OP_DUP OP_HASH160 07c69326e86c692486e43c95024d5f15b9c645b0 OP_EQUALVERIFY OP_CHECKSIG

which means it's spendable with an ECDSA keypair that corresponds to bitcoin address 1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw (in base58check encoding).  In other words, it's a standard Pay2PubKeyHash output (as opposed to multisig).

Looks like the coins did a round trip and all ended up here:
https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

That was a bit odd...

It's a good practice to move the coins to a different adress once in a while to keep the security high

Some people lost there private key after their computer is compromised long ago, but it took hackers several months to break the encryption using a gpu farm, if they moved their coins during those months, they would have avoided the loss

Since the amount of those seized coins are so large, it is wise to split and move them around from time to time. For the first time in history, FBI got their own money: They don't need to rely on the government to borrow money from FED

LOL! Yeah, I'll bet he did sell them to a private investor! ;)

I hate to point out its really not "their own money"... it was money that belonged to people, even if there was a more darker side for it.

And no, they will still get more than their fair share of tax payer money.

DPR has moved 144.000 to keeping high the security of their wallet, not sell to anybody  ;D

However, much donator is sending BTC on the new address of DPR.  ;D

Before everyone freaks out (because we know whales will use any news as an excuse to dump and accumulate)

http://www.forbes.com/sites/kashmirhill/2014/06/12/silk-road-bitcoin-on-the-move-as-government-prepares-to-auction-off-18-million-worth/

It’s an E-bay style auction for digital coin, taking place over a 12-hour period in two weeks, on June 27 from 6 a.m. until 6 p.m. Eastern. “Bids will be accepted by email from registered bidders using a form available from the U.S. Marshals Web page,” says the release. “In order to make a bid in this auction, potential bidders must register between the period of June 16 at 9 a.m. through June 23 at noon EDT and make a refundable deposit of $200,000 via wire transfer from a bank account in the United States.”

The new addresses for the Bitcoin are here (29,658 Bitcoin from the Silk Road) and here (144,341 Bitcoin from Ross Ulbricht). Ulbricht, who has plead not guilty, claimed his Bitcoin aren’t subject to civil forfeiture rules.


First of all, just to bid you need to put down a $200k deposit. So for anyone worried the FBI is going to dump cheap Bitcoins on us peasant masses and crash the price, keep dreaming. Second this article confirms they are being moved for consolidation as they will be sold off in blocks of 3,000 BTC at a time.

why would they even dump cheap coins anyways? the higher they sell, the more money they get for their operations.

btw, they will be sold in 3,000 coin blocks.. 9ish total. who can really afford 3,000 coins? i'd guess wall street has that kind of capital. at $600/btc, that's 1.8 million per block.

Stop freaking out and screaming like little girls.

The feds have no intention to crash BTC.

Satoshi did them a favor.

They now know how to track what they couldn't.

Anyone stupid enough not to recognize this is an idiot.

Moving coins around means jack shit.

If they wanted they could have damaged BTC by now.

But they didn't did they? .....

BTC cant be damaged. Its not a physical coin :D

Come out of wonderland and look at reality.
BTC is already in the process of being completely centralized.
You just haven't realized that yet.

I'm sure it's a healthy mix of people who are uneducated thinking this is a bad thing dropping the price and the baby whales using the FUD as an excuse to snap them up cheap now. But I promise once they hit the auction block, they will probably be sold for as much as 2x, maybe even 3x or more market price, auctions usually always involve people overpaying because bidders get into a frenzy and don't want to lose out, also it's not often someone gets an opportunity to buy thousands of coins at once so you will see some major venture capitalists or wallstreet types jumping in. This will also give Bitcoin legitimacy when you see some very important people bidding on these coins for the media to see. I think this will be the beginning of the 2nd great Bitcoin rally we've all been waiting for.

Well I'm glad someone was keeping tabs on the FBI coins
If they sent them to an exchange that would explain why the price was dropping  ;D
The FBI coins are to blame lol.

And the beggar threads begin
https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

It's going to be amusing, seeing these 3,000 BTC blocks sold for 1.8mil a piece, when they'll be worth 3mil + inside of 18 months.

I wonder if I could get a group buy together for this.

I guess it would have to work something like this:

3,000 people all contribute 1 BTC to the group buy.  The bitcoins from the group buy are used as collateral for a loan (from someone here with a lot of capital?).  The loan is used to bid on a 3,000 BTC block of coins from the government at significantly below market value at the time of the bidding.

If we are out-bid on all attempts, then the loan is paid back (with some bitcoins as interest) and everyone gets most of their bitcoins back (minus their share of the loan interest).

If we win a bid, the bitcoins are sold over time (at bitstamp?) until enough cash is raised to pay off the loan and interest.  Everyone gets their bitcoin contribution back along with a matching share of the leftover bitcoin profits.

The most difficult part will be finding someone with enough capital to make the loan.

I'm back, with little bit more alcohol in my blood (won some BTC on football bet so i had to drink).
That is just too simple. It's never THAT simple. It has to involve, masons, al qaeda, FBI, NSA....(what's that god dman russian secret service)...whatever....something like that. And hacking of course.

As a rule the link on address tags must contain the BTC address on the page. Also as a rule in order to create a "tag" someone with access to the private keys must sign a message allowing the tag to be changed.

There are several exceptions to this rule when blockchian.info will just create a tag on it's own. These tags are very similar to media reporting as the tag would serve some kind of legitimate public interest to know the significance of a particular address.

There are several large addresses that have begging spam on them. I have never sent begging spam nor have I sent funds to an address asking for a donation but the public notes are very entertaining to read.

Say it to the newbies investing in alt coin. They'll be glad to know BTC is getting centralized and their ALT is the great de-centralized one. Tell me buddy, how in your real world, BTC is centralized ?

p.s. I guess, either you'll come up with Ghash.io excuse or Bitcoin Foundation madness.

BTC generation as Satoshi once called it is now completely controlled.
Double spending occurs NOT JUST on the major pools but on the major players as well.
Follow these addresses:

1AF4og9Epgw7Q7hVzNeDf8ZAvzRhJ8pQG
1H5NvB7W5hGhf3aPACDZPam7vmy3bYuTDa
1MrkKXCaQQ6Pz8E3yk1E3vCvz3KqfU4439
14Tud2jEf4rV3TJssKg7VYuoLh6VgRxXBY
1BX5YoLwvqzvVwSrdD4dC32vbouHQn2tuF
1CvS5MdmmHZinsVirPmsakFo8Pz1pCgp2c
1MimPd6LrPKGftPRHWdfk8S3KYBfN4ELnD
123cqgiQKeKLWjE1vsX9n8spznQikwVLj1
1BwZeHJo7b7M2op7VDfYnsmcpXsUYEcVHm
1H1sq6Msgt9HjRrBuz8ieZdThzWXS6oPVA

and these do not belong to an ASIC manufacturer like KnC for example here: 1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

Notice a familiar warning message on all of these addresses?

Get something clear to your head...
ANYONE with a tiny bit of power will always try and abuse their power.

I'd definitely be up for/contribute to this! It might be tough to find that many people to put up the 1 Bitcoin entry fee. I may actually know someone who would furnish the loan. One would think that these coins will likely go for well under spot, which could potentially make the investor a nice, quick and easy profit!

They're only requiring $67/btc deposit 

My guess is that's 10% and they want $670 a coin.

It wouldn't really need to be a 1 BTC entry fee.  Some people could contribute more if they like.  I don't think I'd want to be dealing with 10's of thousands of 0.1 BTC (or smaller!) transactions though.  The profits (or losses) would be distributed among the contributors based on the percentage of the total they contributed.

We'd have to find out what the lender wants as collateral for the loan as well. They might be willing to accept less than 3,000 BTC, but they also might be require more.

No, all are not showing warning, but those, marked red are showing...


Gonna create a separate topic regarding this, if I dont get a satisfactory explanation of it in the thread.

This happens in the case of a legitimate orphan block.  For example, on p2pool there was an orphaned blocked last month.  Every p2pool payout address now has this tag.  You can see it here on my own personal p2pool payout address:  https://blockchain.info/address/1B3rKJhzZjDBKexr2DCwAzzyczgSjibs1Z.

Never-mind, it looks like enough time has passed that the warning has been removed.

Anyway, in conclusion-- this message can occur during a normal orphaning of a block.

Danny, this is a fantastic idea.  

Perhaps the creditor could hold one of the multisig keys.  The signers for the multisig account could move 100 BTC chunks into Bitstamp, where they would be sold by the trustee and wired to the creditor's bank account to pay back the loan.  I guess the biggest trust issue would be that the trustee has the USMS transfer the coins to the multisig address and not to their own tropic-island fund.  I wonder how the actual transfer would go down?    

I'm in if you can organize it!

Would u mind if I ask u whether the transactions on your given address are from some pool ?

If anyone knows anyone with the capital and interest in lending such an amount, have them contact me.

I'll start figuring out how much collateral they'll want in the form of bitcoins.  If we get a few interested lenders, there will be an opportunity for them to reduce their individual risk by each lending only a portion.  There will also be some competition which could help drive down the interest rate and collateral requirements.

I really don't think I'm going to find anyone willing to make the entire loan themselves.  If someone was willing to do that, they'd just buy the bitcoins at auction themselves.  There might be a few people who each individually don't have enough capital to participate in the auction, but who might be willing to fund a portion of the loan.

At this point its mostly just an idea.  I'm pretty sure I won't be able to pull it together fast enough, but I'll see what happens.

^ that's kind of a lot of risk to be taking, especially knowing that you are unsure of what the reward is.

I've created a separate self-moderated thread for this discussion so the conversation doesn't have to be broken up by all the other conversations in this thread.
https://bitcointalk.org/index.php?topic=650229.0

How did they get access to the coins?

securing wallets were obviously the first steps of SR, long before it could be infiltrated.

Someone had to be on the inside the whole time, right? These guys wouldnt give private keys to anyone..

Because they are "keeping" his personal stash, which is what they werent given access to..

So who was given access?  I'm pretty sure Silk Road came back, is it the inside guy busting kids left and right or what?

I'm sure people are discussing this somewhere, I'm just a bit curious now that I see they literally took all that coin right before the price peak, right before china ended up with so much btc.  They had quite the money making machine in starting a drug market and busting the independent tech guy that set it up after it became turnkey. WOULDNT SURPRISE ME!

You arrest someone and tell him he will go xx ammount of years to jail. If he gives you access to wallet he goed xx/2 years to jail (if found guilty ofc).

(Colbert is so funny ;-)
Coindesk put up the news too
http://www.coindesk.com/18-million-worth-of-silk-road-bitcoin-to-be-sold-by-us-government/

I'm interested to see how price is going to be effected for awhile.

Hey does anybody know how 144,000 btc just appeared in my electrum wallet?

The FBI is moving the coins and selling them in 3000 BTC Blocks
So if you have 200,000 and a wire transfer lying around feel free to buy some XD
http://gigaom.com/2014/06/12/us-will-auction-bitcoins-seized-from-silk-road-bidders-must-deposit-200000/

200,000 is only the deposit that allows you to participate in the auction.

After that you'll need to wire the rest of your winning bid within 23 hours of the end of the auction or you forfeit your entire deposit.

Wow cool.

Payment for an assassination?

Incredible luck (in the literal sense: not credible).  :D

Whoever buys them better be ready to file all their property gain taxes at the end of the year ;)

Think they'll sell at/above/below market? Kinda makes sense to sell above market, really hard to get your hands on so many at one time.

if you buy and hold, you won't have to file any capital gains taxes.

Nice idea, except you're asking the lender to essentially take all the risk and none of the payback.

Of course, you might get get 3000 people to each dig deep into their credit cards to come up with the cash to do exactly what you are thinking.  :o

This is a very important question:

Did PlutoPete (Pete Ward) get his 100 Bitcoin back from the FBI?

"Hey, Joe, watch this. I'm going to move $84M just to fuck with the Bitcoin community."

"You're a sick bastard, Rick, but that's why we love you."

Na they said it was a refundable deposit
Then again it is the FBI so you would need to assume that they would honor that although If you win the bid it might be different.

In Murica even FBI deals with Bitcoin, wow.

I was just thinking if it ever becomes possible in my country. Most likely NO.

As far as trading goes, i believe there will be a surge on litecoin, in btc/ltc trade pair.
I highly doubt the fbi will think twice about what they are doing, i think they will just dump it and be gone.

I'm pretty much sure they are still laughing.

Or even better:
"Hey, Joe, do you need cheeper BTC?"
"Yeah, too bad we cant drop it down for 100 or so $ without investing anything"
"Just watch me" - *creates new adress and sends all BTC there*
"Wow, thanks Rick, i got in 100$ below price! Now i can sell and earn some money. Can we do it tomorrow again?"

-Latest News-
The FBI just sold the remainder of the coins to Wall street. The end is near!

I just want to know will they announce how many bidder before the auction??

I hope that the company of San Francisco which will buy FBI coin (30k) will use it great and not for manipulate the market.

Over this, FBI has moved its coin for a question of safe.

It's refunded if you lose the bid, or if you win the bid and pay on time it's subtracted from your bid price. It is not refunded if you win the bid, but fail to pay on time. This is pretty clear from their site (http://www.usmarshals.gov/assets/2014/bitcoins/).

Did you even read the U.S. Marshals Service announcement?
http://www.usmarshals.gov/assets/2014/bitcoins/

But reading a two page document is so very hard.  Besides it is so much more fun to just make up crap.  If I actually read it I would not be able to do that.

They will let the winners of the auction know that they won on the 30th (3 days after the auction closes). The prices will likely be disclosed at this time as well.

I'm guessing this must be why the price of bitcoin just decided to take a downward spiral.  It's good timing for me, at least if it keeps it up for a while, since I'm planning on buying pretty soon.

Perhaps, or perhaps it was the GHash.io scare.  But I do not find either explanation convincing.

To understand why the price is falling we would need to understand first why it rose from 450$ (Apr/25--May/20)  to 650$, since this fall is only starting to undo that rise.  That explanation had better explain also why the price rose in a few discrete jumps, due to large concentrated buys, rather than in a steady ramp with broad market support.  Pseudo-explanations like "bitcoin is like that" or TA astrology will not help of course.

As far as I can tell, the rise (like almost all the major moves since October) was generated and powered by the Chinese market, and copied to the "West" by arbitrage.  The spurts could be explained by a few big traders getting inside information of some imminent development with expected positive impact on the Chinese market, such as opening of offshore branches of Huobi and OKCoin, trading in offshore yuan (CNH).

If that is the case, the cause for the current drop should be sought in China too.  Neither the FBI auction nor GHash.io thing could have much impact there.

Anyone who was minimally familiar with how the US government deals with seized property, and had some feeling for the way civil servants think, would have guessed that the sale of the SilkRoad coins would happen, and could tell exactly how it would happen: by public auction, in lots, to the highest bidder, at whatever price he offered.  And indeed several people predicted that in this forum.  There was absolutely no chance that the FBI would sell the seized coins through private deals or on the exchanges, or would try to keep them.  (The US government has no more motivation to own bitcoins than it has to own Apple stock or gold-plated Rolls Royces.) So, their sale must have been "priced in" for months.  Moreover, the amount is not large compared to other bitcoin hoards that could be dumped (it is less than 8 days worth of the miners'  output). 

The GHash.io thing is an obscure technical issue that, per se, does not threaten bitcoin immediately.  (It is far less worrisome, IMHO, than the recent developments at the Shrem Karpeles & Friends Foundation, also known as the Bitcoin Foundation; or than restrictive regulations that large nations might easily pass; or than several other threats.)  I cannot imagine the Chinese traders being impressed by it.

My best guess is that some of those same Chinese insiders who caused the recent rise just got tired of waiting for the expected event, or started doubting the news.  Or other Chinese whales became pessimistic about the solidity of the rise, and decided to dump.

PS. THIS seems to be a good explanation for the current drop:

CoinDesk, 2014-06-14
Chinese Payments Association Wants Banks to Identify, Eliminate Bitcoin Activity
http://www.coindesk.com/chinese-payments-association-wants-banks-identify-eliminate-bitcoin-activity/

¿Por qué no los tres?

I wonder if any famous people or entities will be bidding for them? Maybe the Winklevii?

I would argue that since the market can see that there will be a large influx of supply of coins in the near future people are anticipating a future drop in price.

When a large institutional investor is planning on selling their stock in a particular company they do not make an announcement because people would trade ahead of them causing the price of that stock to fall before they sell. 

Did the FBI move DPR's coins from his address to one under their control? or did they just protect the private key and leave them alone?

They moved them.

Twice.

Maybe Pirate is buying them back.... you know.. to pay back investors...
lol sorry... to soon :P ?

The sell off is def going to hurt the price, just them announcing it made price drop.

you'd hope they do it slowly..
be kinda retarded to sell 1000000 of them at once...
but who knows who it is... if they can affiird ut they obviously a smart person... considering there probs rich as fark.

The price will likely drop in anticipation of the auction, but will rebound (over the long term) due to the massive value of Bitcoin

The law says that they have to sell them all at once

What law?

324 = FBI on a keypad. Posturing, or some FBI nerd having a laugh

Yes, it's going to hurt the price.  It's actually probably already priced in, since they announced it publicly.  The fortunate thing for bitcoiners is that they're selling them privately, off an exchange.  So unless whoever buys them decides to turn around and resell them immediately, it probably won't affect the price of bitcoins any more than it already has, which, as far as bitcoin price drops goes, isn't that bad, especially considering that it's already recovered somewhat. 

Granted, JorgeStolfi had an excellent point in his reply to my post that it's likely more than just this one thing at work here.  This is likely part of it, but there are probably several factors at work with the drop in price.

I think over the short term the price of bitcoin will fall a little bit further in anticipation on the sale, and depending on who buys via the auction it may fall after that (if people wish to try to arbitrage the price) but long term the price will recover and rise above where it was as more businesses start to accept bitcoin and more consumers start to use bitcoin