wobber
Legendary
 Offline
Activity: 1064
Merit: 1001
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October 25, 2013, 06:45:07 PM |
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Shit! I hope they destroy them!
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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bigasic
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October 25, 2013, 06:46:29 PM |
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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) |
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callezetter
Newbie
Offline
Activity: 30
Merit: 0
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October 25, 2013, 06:48:39 PM |
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Shit! I hope they destroy them!
Im sure its nice for them to have a loaded gun to wave around too...lol |
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Adrian-x
Legendary
Offline
Activity: 1372
Merit: 1000
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October 25, 2013, 07:02:35 PM |
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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. |
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uhoh
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October 25, 2013, 07:08:02 PM |
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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. |
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Hfertig
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October 25, 2013, 07:09:05 PM |
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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... |
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wobber
Legendary
Offline
Activity: 1064
Merit: 1001
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October 25, 2013, 07:11:06 PM |
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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 |
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bigasic
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October 25, 2013, 07:16:07 PM |
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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... |
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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October 25, 2013, 07:21:14 PM |
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Looks like double bottom happened.
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Peter R
Legendary
Offline
Activity: 1162
Merit: 1007
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October 25, 2013, 07:22:57 PM |
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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."
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hlynur
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October 25, 2013, 07:24:31 PM |
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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? posted before but deleted it, because i said it many times. 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". This.... 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... |
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bobdude17
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October 25, 2013, 07:29:34 PM |
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Finally time to turn bitlisten.com back on.  |
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thoughtfan
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October 25, 2013, 07:32:00 PM |
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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... If anything, given that they can't do anything with them, surely the value of our holdings are 'safer' now because the risk of that lump of bitcoins hitting the exchanges has been eliminated for some time! 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! |
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DougTanner
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October 25, 2013, 07:32:30 PM |
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Big move upwards. Same relative volume.  |
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justusranvier
Legendary
Offline
Activity: 1400
Merit: 1009
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October 25, 2013, 07:34:42 PM |
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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? |
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bitcodo
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October 25, 2013, 07:36:19 PM |
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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.
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thoughtfan
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October 25, 2013, 07:42:37 PM |
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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.
We don't know that. Some are saying key-logger monitoring since May is a more likely explanation. I don't know but it's too early to say for sure. |
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DougTanner
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October 25, 2013, 07:49:15 PM |
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Up we go or bull trap?
[/quote]
Starting to look like a Bull trap.
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Hfertig
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October 25, 2013, 07:50:11 PM |
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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... You are right, this could take some time. And you are right, there are tons of people who will hold onto their coins forever... but most of those people got them at very low prices. But all the newcomers paying $200 plus per coin will have a pain level. I cannot predict what the market will be doing. I wish I could. However, in my personal view there are more downside risks than upside risks from here. |
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Loozik
Sr. Member
Offline
Activity: 378
Merit: 250
Born to chew bubble gum and kick ass
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October 25, 2013, 07:50:22 PM |
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He is cooperating. Maybe he is, maybe he isn't. He must be very very scared. Everybody would be scared if in his shoes. You can - if you so like - go right now to a pub to have a beer with friends. There is no gun pointed at your head. If DPR tries to go to a pub he will get shot by a human doing business as a prison guard. He has a gun literally pointed at his head. Whatever he does now is under the thread of being killed. He may act irrationally. |
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