Confiscated silk road bitcoin being spent

[Deansss]

While I was browsing through the block chain I noticed that something around 29,000 bitcoin were in a wallet that the coins were labelled on block chain.info as (silk road seized coins)  originally and transactions are being made today.

Yesterday and probably for quite a while.

Maybe this is normal I just find it unusual for the FBI or whoever confiscated them are spending/moving them to tons of different addresses.

I guess they can do what they like with them maybe it's used to try to catch out people making other  dodgy deals on the dweb

[jackg]

While I was browsing through the block chain I noticed that something around 29,000 bitcoin were in a wallet that the coins were labelled on block chain.info as (silk road seized coins)  originally and transactions are being made today.

Yesterday and probably for quite a while.

Maybe this is normal I just find it unusual for the FBI or whoever confiscated them are spending/moving them to tons of different addresses.

I guess they can do what they like with them maybe it's used to try to catch out people making other  dodgy deals on the dweb

This is quite interesting... Do you still have the address you stumbled across?
Maybe the FBI decided to sell those coins or just redistribute them into the network somehow.

[soothaa]

Maybe the FBI decided to sell those coins or just redistribute them into the network somehow.

Thank you for the best laugh I have had in a while. This is quite funny. Do you really think the FBI would simply send out BTC to "generously" fund other accounts? Noooo way. The US Government does not work like this. It is a seized asset and they will sell if for the maximum amount of profit that they can get when the time comes. They will seize anything they can via an ever increasingly terrifying "legal" means that they can cook up with and hide behind the guise of preventing "terrorism" and the like.

[jackg]

Maybe the FBI decided to sell those coins or just redistribute them into the network somehow.

Thank you for the best laugh I have had in a while. This is quite funny. Do you really think the FBI would simply send out BTC to "generously" fund other accounts? Noooo way. The US Government does not work like this. It is a seized asset and they will sell if for the maximum amount of profit that they can get when the time comes. They will seize anything they can via an ever increasingly terrifying "legal" means that they can cook up with and hide behind the guise of preventing "terrorism" and the like.

Maybe they're trying to get the bcc out of the address or "research the blockchain" more.

[HeRetiK]

Do you mean 1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX ?

Because all I see is incoming transactions. Mostly dust, but also what looks like someone having a bad time once they realize that they accidentally donated 1k to the FBI. Or maybe they wanted to poor one out for Ross Ulbricht

[pontoumporcento]

I thought btcs were auctioned off.. GVT is hodling btc? This is funny

[Deansss]

While I was browsing through the block chain I noticed that something around 29,000 bitcoin were in a wallet that the coins were labelled on block chain.info as (silk road seized coins)  originally and transactions are being made today.

Yesterday and probably for quite a while.

Maybe this is normal I just find it unusual for the FBI or whoever confiscated them are spending/moving them to tons of different addresses.

I guess they can do what they like with them maybe it's used to try to catch out people making other  dodgy deals on the dweb

This is quite interesting... Do you still have the address you stumbled across?
Maybe the FBI decided to sell those coins or just redistribute them into the network somehow.

Yea it's
1Lm2B7v3k5MMpV9s4cV1T7dz4uGtn3hWG6


There are some linked addresses with hotwallet in the info

[gentlemand]

They don't have any SR coins. They were all sold many years ago to multiple entities over several different auctions.

[Deansss]

They don't have any SR coins. They were all sold many years ago to multiple entities over several different auctions.

And did you track the wallet at the time??. Check it! They had 29000 bit coin. it would be sensible for them to keep some and try to catch people doing dodgy things .like try to get their ip adresse . I'm no programmer but I've been interested it crypto for years

[Amandier]

The government is just a mafia that succeeded. Hence, their sole purpose in life is making money. And after stealing bitcoins from honest people, they will sell them to get the maximum amount of profits...

[gentlemand]

And did you track the wallet at the time??. Check it! They had 29000 bit coin. it would be sensible for them to keep some and try to catch people doing dodgy things .like try to get their ip adresse . I'm no programmer but I've been interested it crypto for years

They had 144,000 in total. All of them were sold via US marshal auctions. They didn't want to keep them and they wouldn't be permitted to. No doubt oddballs have sent money to this address as it's an extremely famous one, just as people send money to the genesis block.

As the authorities still control that address I dunno what they'll do with that dust.

Tim Draper won the first auction for those coins - https://www.cnbc.com/2017/05/05/billionaire-investor-tim-draper-backs-new-cryptocurrency.html

https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55

[Deansss]

They don't have any SR coins. They were all sold many years ago to multiple entities over several different auctions.

SR got shut down a few times . Silroad 2.0 and silkroad3.0  is the latest .

I also found what I believe to be one of satoshi wallets that had over 5000 transactions of 0.0001 and 0.0005 from the wallet and back again almost every day for years .
Looked like him keeping the transactions going and giving himself some for Christmas as one wallet has Xmas in the adresse .

Another had whritey in it.

[Deansss]

And did you track the wallet at the time??. Check it! They had 29000 bit coin. it would be sensible for them to keep some and try to catch people doing dodgy things .like try to get their ip adresse . I'm no programmer but I've been interested it crypto for years

They had 144,000 in total. All of them were sold via US marshal auctions. They didn't want to keep them and they wouldn't be permitted to. No doubt oddballs have sent money to this address as it's an extremely famous one, just as people send money to the genesis block.

As the authorities still control that address I dunno what they'll do with that dust.

Tim Draper won the first auction for those coins - https://www.c[Suspicious link removed]m/2017/05/05/billionaire-investor-tim-draper-backs-new-cryptocurrency.html

https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55

Damnnn that's alot a coins 

[gentlemand]

Damnnn that's alot a coins  

Yup. I think there were 3 or 4 auctions in total. The biggest one sold 44,000 coins in one go to four different buyers.

Stupid people on here believed that millionaires would buy all these coins so they could dump on Yobit. Funnily enough they didn't. The first auction induced lots of pointless fear. No one cared about the later ones.

That first one of 29,000 was bought to provide liquidity for an exchange I think. He paid $600 per coin ish so even if the exchange idea was discarded he's done pretty nicely.

Like I said I'm kind of intrigued as to what the FBI will do with the coins that have subsequently been sent to the address. You can't close down an address. Maybe they'll sit there forever as a monument.

[dothebeats]

Damnnn that's alot a coins  

Yup. I think there were 3 or 4 auctions in total. The biggest one sold 44,000 coins in one go to four different buyers.

Stupid people on here believed that millionaires would buy all these coins so they could dump on Yobit. Funnily enough they didn't. The first auction induced lots of pointless fear. No one cared about the later ones.

That first one of 29,000 was bought to provide liquidity for an exchange I think. He paid $600 per coin ish so even if the exchange idea was discarded he's done pretty nicely.

Like I said I'm kind of intrigued as to what the FBI will do with the coins that have subsequently been sent to the address. You can't close down an address. Maybe they'll sit there forever as a monument.

Iirc the first batch of the coins were sold at a below market price which at that time is ~$450. Whoever bought it must be thankful to the feds since he/she made a good deal out of SR's seized coins.

As for the dust inputs I don't think you could ever use those. I have one address that contains dust from the 2015 spam attack and I cannot spend it. It totals to 1.86 btc, all made up of dust inputs.

[gentlemand]

I was under the impression that bidding was fierce for the first one, something like 40-50 entities registered, then it tailed off for the latter ones. The price was never released but that one at least must've approached the market price.

Holy moly. That's a lot of dust. I would've been tempted to try my own personal spam attack emptying it when the mempool was a ghost town recently.

[stompix]

While I was browsing through the block chain I noticed that something around 29,000 bitcoin were in a wallet that the coins were labelled on block chain.info as (silk road seized coins)  originally and transactions are being made today.

Yesterday and probably for quite a while.

Maybe this is normal I just find it unusual for the FBI or whoever confiscated them are spending/moving them to tons of different addresses.

I guess they can do what they like with them maybe it's used to try to catch out people making other  dodgy deals on the dweb

First thing: the coins were auctioned a very long time ago, it just happens that the winner war a hodler.

Secondary you just don't give coins away to trap people.Apart from the part where even the dumbest lawyer will call out entrapment on this it a waste of funds of insane proportions. We're talking about a 100 million bait, and you never give bait away when you can't recover most of it.

[buwaytress]

Iirc the first batch of the coins were sold at a below market price which at that time is ~$450. Whoever bought it must be thankful to the feds since he/she made a good deal out of SR's seized coins.

As for the dust inputs I don't think you could ever use those. I have one address that contains dust from the 2015 spam attack and I cannot spend it. It totals to 1.86 btc, all made up of dust inputs.

Out of curiosity... could you share this address with all those dust? Are you certain they cannot be somehow consolidated? I won't assume to know more than you but there seems to be one way at least to try do this.

I wasn't aware there was this much lying around (only came to the scene last year. I sent you a PM in case you don't want to share. I have a few ideas!

[Deansss]

While I was browsing through the block chain I noticed that something around 29,000 bitcoin were in a wallet that the coins were labelled on block chain.info as (silk road seized coins)  originally and transactions are being made today.

Yesterday and probably for quite a while.

Maybe this is normal I just find it unusual for the FBI or whoever confiscated them are spending/moving them to tons of different addresses.

I guess they can do what they like with them maybe it's used to try to catch out people making other  dodgy deals on the dweb

First thing: the coins were auctioned a very long time ago, it just happens that the winner war a hodler.

Secondary you just don't give coins away to trap people.Apart from the part where even the dumbest lawyer will call out entrapment on this it a waste of funds of insane proportions. We're talking about a 100 million bait, and you never give bait away when you can't recover most of it.

I ment they could be using some to make purchases on the dweb to try to trap people.

You don't think they would use $50 worth to catch a crack dealer .

Anyway it wasn't dust transactions yesterday is was like 250 dollars worth .

[dothebeats]

Iirc the first batch of the coins were sold at a below market price which at that time is ~$450. Whoever bought it must be thankful to the feds since he/she made a good deal out of SR's seized coins.

As for the dust inputs I don't think you could ever use those. I have one address that contains dust from the 2015 spam attack and I cannot spend it. It totals to 1.86 btc, all made up of dust inputs.

Out of curiosity... could you share this address with all those dust? Are you certain they cannot be somehow consolidated? I won't assume to know more than you but there seems to be one way at least to try do this.

I wasn't aware there was this much lying around (only came to the scene last year. I sent you a PM in case you don't want to share. I have a few ideas!

I'm gonna sift through my files from 2015-2016 just to find that wallet. I'm willing to share the said address and also try to spend the inputs (again) but most probably the client won't let me since it requires fees more than the 1.86 btc total sum (individual inputs were at 0.0001 btc each).