Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[coins101]

http://www.coindesk.com/mt-gox-ceo-mark-karpeles-implicated-silk-road-trial/

you can't make this shit up!

maybe someone has to raise some doubts.

grease my palms with enough bitcoin and I will implicate my best friends grandmother.

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[mmitech]

This could be true, and the coins that Mtgox "lost" could be really the SR seized coins or the lost at least connected to this event.

[tarmi]

[adamstgBit]

Mark Karpeles is now almost confirmed as the culprit of both Silkroad and the bitcoin price; Buy if you want to. I'm out. Good luck bulls.

If this is true I go leveraged all-in.

rationale?

the FBI will only accept BTC for Mark's bail?

[esse83]

This could be true, and the coins that Mtgox "lost" could be really the SR seized coins or the lost at least connected to this event.

Good point, didn't think about that. makes sense.

[PestoQuinty]

Someone should make a great movie about all this... The wolf of Mt. Gox or something...

[mmitech]

Then I can confirm that Bitcoin will die as soon as this info become true.

[coins101]

Mark Karpeles is now almost confirmed as the culprit of both Silkroad and the bitcoin price; Buy if you want to. I'm out. Good luck bulls.

If this is true I go leveraged all-in.

rationale?

the FBI will only accept BTC for Mark's bail?

Don't you hate it when you miss the bleeding obvious.

[dakota neat]

Shrem had also a shady business going with SR.

[adamstgBit]

this news is EVERYWHERE now. insidebitcoins  wired slashdot theverge

[tarmi]

Mark Karpeles is now almost confirmed as the culprit of both Silkroad and the bitcoin price; Buy if you want to. I'm out. Good luck bulls.

If this is true I go leveraged all-in.

rationale?

the FBI will only accept BTC for Mark's bail?

Don't you hate it when you miss the bleeding obvious.

you are missing it because that is bulltard logic> always go leveraged all-in.

[SnokkomBTC]

Mark Karpeles is now almost confirmed as the culprit of both Silkroad and the bitcoin price; Buy if you want to. I'm out. Good luck bulls.

If this is true I go leveraged all-in.

rationale?

the FBI will only accept BTC for Mark's bail?

Don't you hate it when you miss the bleeding obvious.

you are missing it because that is bulltard logic> always go leveraged all-in.

lol, so true

[Brewins]

Would be the same as Joker and Batman being the same guy

[Stevenirving]

Ulbricht’s lead attorney, Joshua Dratel, said that Karpeles was the man pulling the strings behind Silk Road from 2011 until 2013, and that his associate Ashley Barr, a Canadian computer scientist, became the famously libertarian voice of Dread Pirate Roberts.
“Lots of little things added up to [Karpeles],” Der-Yeghiayan testified.
In a meeting with other Homeland Security agents, Der-Yeghiayan recalled saying that “we have built up quite a large amount of information that leads to this.”
Der-Yeghiayan, however, was convinced that the investigation still had further to go before making an arrest and taking Karpeles to court. He advised other law enforcement agents against speaking to Karpeles about Silk Road, so as to not tip him off.
At the time, there were investigations into several potential crimes that Karpeles had committed.
Instead, other Homeland Security investigations into Karpeles, for separate and related crimes, led investigators to seize $2 million from Karpeles in May 2013, thus tipping Karpeles off that he was on the radar of the United States government.
Although he was “upset” about the premature law enforcement contact, Der-Yeghiayan said he continued his investigation into Karpeles.
“You believed him to be the mastermind behind Silk Road, keeping it secure and operating?” Ulbricht defense attorney Dratel asked Der-Yeghiayan.
“I did,” Der-Yeghiayan testified.
As the argument was unveiled, Ulbricht let out a rare beaming smile and turned to his parents. They nodded at one another, marking the most electric moment in the trial so far.
Der-Yeghiayan testified that his own investigation had found that Mutum Sigilum, a Karpeles holding company, had registered silkroadmarket.org as a means to publicize the site further.
The Homeland Security agent’s theory was that Karpeles, as owner of Mt. Gox, held an enormous amount of Bitcoin. He used Silk Road to leverage that price and raise it, which it did by several hundred times over during the course of Silk Road’s lifespan. Bitcoin was worth around $2 at Silk Road's launch and hit as high as $290 by 2013.
In the summer of 2013, a separate Baltimore-based Homeland Security investigation into Karpeles went to meet with the Karpeles's lawyers, explicitly against Der-Yeghiayan’s wishes. At this meeting, Karpeles’s lawyers brought up Silk Road and said that Karpeles was willing to give up the person he thought to be running Silk Road in order to gain immunity from other charges pending against him.
Der-Yeghiayan said he was “upset” about the contact and says he wrote a lengthy memo about the problems in the investigation.
Dratel says that it was only after this happened that Ulbricht was lured back into Silk Road, an entity he allegedly left behind two years prior, in order to be the “fall guy” who would ultimately take the charges that could leave him in prison for life.

HOLY FUCK

That is all

[mmitech]

do you remember when Mark refused to go to the US hearing when he was invited by the court regarding their closed account? you know, refusing may also add some confirmation to this theory... so many dots got connected, but again it could be just a coincidence.

[tarmi]

Would be the same as Joker and Batman being the same guy

what would batman be without joker?

let me rephrase it> what would bitcoin be without demand created on rigged exchanges/drug markets?

 

[WeltMaster]

I don't see why this is bearish news.

I'd have thought the MtGox collapse would have been priced in, as well as the SR fiascos.

Besides, all the media attention couldn't hurt right?

Remember, the fundamentals are unchanged.


This is turning into a perfect storm for when this bear market is over me thinks

[JamesBrown]

The Homeland Security agent’s theory was that Karpeles, as owner of Mt. Gox, held an enormous amount of Bitcoin. He used Silk Road to leverage that price and raise it, which it did by several hundred times over during the course of Silk Road’s lifespan. Bitcoin was worth around $2 at Silk Road's launch and hit as high as $290 by 2013.

What the hell do they mean by "leverage that price and raise it"?
Can anyone here come up with a scenario how keeping gox money at silk road could have raised the price?

[Bisha]

So these shitty news were the so expected news for this friday? lel i really hope not

[PestoQuinty]

The Homeland Security agent’s theory was that Karpeles, as owner of Mt. Gox, held an enormous amount of Bitcoin. He used Silk Road to leverage that price and raise it, which it did by several hundred times over during the course of Silk Road’s lifespan. Bitcoin was worth around $2 at Silk Road's launch and hit as high as $290 by 2013.

What the hell do they mean by "leverage that price and raise it"?
Can anyone here come up with a scenario how keeping gox money at silk road could have raised the price?

Less supply, more demand...