Ross Ulbricht sentenced to life. Good or bad news?

[alani123]

First time silk road went down dates back to 23 June 2013. Back then, many claimed that the backlash bitcoin received through major media in addition with the news of one of the biggest bitcoin marketplaces going down had a direct effect in bitcoin's price. The price kept falling from $128 on June 23 to the low of $70 on July 7. Another key point on Silk Road's story was its resurrection. Silk Road 2.0 was opened on November 6 2013 and it seemed that the rally that had begun prior to that sped up its pace after Silk Road's reopening.

Could the recent events have a notable impact on the price?

[mcplums]

I don't think the news is particularly relevant re. bitcoin's price.

[samson]

It's definitely bad news for him. Life and maximum security to boot.

This was a foregone conclusion from the moment he was arrested anyway.

The judge is a stooge, his own lawyer an ass and even those who were working to catch him were corrupt as fuck.

Murica 

[mcplums]

It's definitely bad news for him. Life and maximum security to boot.

This was a foregone conclusion from the moment he was arrested anyway.

The judge is a stooge, his own lawyer an ass and even those who were working to catch him were corrupt as fuck.

Murica 

I agree, an insane sentence. He was literally making the world a better place with silk road.

He was not making the world a better place by paying to get people killed, but he wasn't even charged with that, let alone convicted.

[gentlemand]

The end of a long, long road and an important part of Bitcoin's history. That's all it is - history.

[DJ Crypto]

The US goverment wanted to make an example out of Ulbricht by giving him life sentence so yeah the poor guy was fuked pretty hard.

[Cconvert2G36]

Bad news for Ross. Bad news for his family that spent everything on his defense.

Non-news for Bitcoin, especially bitcoin price. 

[seleme]

Wow, he's properly screwed.

[randy8777]

can't see this having any impact on the price. the market shows zero impact as you can see. it's quite sad news for the dude himself.

[EternalWingsofGod]

Neutral
If were talking about underground markets the price is impacted by the amount of working exchanges and their are still quite a few out there, what happened to a dealer may not impact the underground much, for new users it could be seen as either positive in that dealers are caught or negative if they percieve it as a risk of using Bitcoins.

[Malin Keshar]

Neutral.

I don't even see the media's articles talking about tor and bitcoin, so no new people would buy or sell because of it, so no effect on prices and no new people attract or repelled.

[montreal]

I don't think there will be any immediate impact on price but articles about the sentence are featured on tons of sites right now (frontpage of yahoo/business insider/new york times/cnn money/wired/ etc). Its even on the front page of reddit and many of the comments are shockingly in favor of Ross and bitcoin. Might not be good or bad news for price but its definitely catching eyes

[goxed]

US justice system is working perfectly, and US is winning the war on drugs.

[anderson00673]

I don't think this will have an effect on price.  Any price movements related to this story have played out long ago when the SR was taken down, and well before he was sentenced.  The conviction is sort of the aftermath that everyone was expecting, even if they were not expecting such a long sentence.

[TPTB_need_war]

It is very much expected that the individual incentives are to be more concerned about the Bitcoin price than the greater implications of this totalitarianism and Ross's plight.

Individuals do not prioritize the global optimization of the society, but rather our own selfish incentives.

[redsn0w]

I am thinking it is a neutral news, why should the price be affected by this news? Are you thinking a lot of people will dump their BTC due of hat news . People should learn, that the bitcoin world is not more affected by the 'external' news: paypal, BTC adopted in XX country, etc... these things do not affect the price anymore.

[Hyena]

Does anyone know how on earth did the LEs get that many bitcoins out from ross? Was ross seriously such an imbecile that he used some super weak password or had his coins unencrypted?

[gentlemand]

Does anyone know how on earth did the LEs get that many bitcoins out from ross? Was ross seriously such an imbecile that he used some super weak password or had his coins unencrypted?

That's a good question. I'm not sure whether they ever explicitly answered that. Considering he kept incriminating text file journals on his laptop it's possible he would've kept the coins unencrypted or even wrote the password somewhere there too. That's why they were so desperate to catch him with it operating.  

I've also seen regular mentions of another several hundred thousand coins. Does anyone know whether these are just turnover or whether they're supposed to be under his control too? His 180 something million dollar bill seems to relate to those. I'm not sure. 

[oblivi]

I think news like this are irrelevant, since SK^ad infinitum will keep popping up on the darknets for the rest of eternity. The problem would be if a legitimate business that was a major player on Bitcoin, went bankrupt, or committed fraud or something, but this is not the case. It was expected.

[defcon23]

i think this sentence is a bit hard, to be honest.. dont forget DPR dont create  SR :  Variety jones did it..