Is the US Selling the Silk Road Bitcoin Bounty?

[eatrader]

“The Silk Road moderator Gary Davis, aka Libertas, is officially free on bail and awaiting an extradition hearing on February 13. Irish and U.S. authorities arrested Davis on December 20 in an international operation that also nabbed Silk Road moderators Andrew Jones, aka Inigo, and Peter Phillip Nash, aka SameSameButDifferent.”

This is leading some to believe that the sell off in the markets today can be attributed to the selling of the bitcoins in these wallets...


http://www.cryptocoinsnews.com/2014/01/08/united-states-selling-silk-road-bounty/

[Dr Bloggood]

No, they are not selling them off! So funny, all those sources claiming that utter stupidity. Your article links to another article which links to DPR's wallets:

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

Those wallets (118 mio.$ and 24 mio.$, respectively) have not had any outflow, check them out:

1FfmbHfnpaZjKFvyi1okTjJJusN455paPH
1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX

Can somebody calculate what would happen if they sold off those wallets fast? How far could that crash the price?

EDIT: I have calculated that it currently would be about 1/68th of the market cap, so I guess that couldn't do too much damage.

[eatrader]

I totally agree.  I am totally calling BS on the TechCrunch article.  This is exactly why I wrote the article. 

[EvilPanda]

Stop spamming with this FUD news, this is the 3rd thread with same link.

[Dr Bloggood]

Stop spamming with this FUD news, this is the 3rd thread with same link.

But I like being first in this one.