SilkRoad domain Seized?

[xzempt]

short term win for people willing to go long on BTC,    prices will be $75 or less by the end of the day... once this news spreads....


get ready to buy!

[1714596521]

1714596521

[1714596521]

1714596521

[1714596521]

1714596521

[1714596521]

1714596521

[IncreaseMyT]

Someone tell me when its time to buy   How low could this possibly go?  Do you think it will hit $75 like it did back in July?

Buy now, I guess? Has anything permanent changed with regard to bitcoin's value proposition to the world? It should be fairly obvious that services which directly antagonize law-enforcement agencies are going to be shutdown much of the time. Bitcoin is, and always was, about far more than black-market transactions.

Again, we're in the phase of bitcoin's development where daily transaction volume is 2nd order. The future potential and store-of-value properties far outweigh current transactional usage with regard to price support, so the fact that SR transactions are off the table for the moment should be a mostly irrelevant turn of events to anyone who's thought this through already.

Thanks for the reply, thats what crossed my mind.  If history repeats itself, the media coverage alone could give it a huge climb. 

[MerchantMiner]

Someone tell me when its time to buy   How low could this possibly go?  Do you think it will hit $75 like it did back in July?

Buy now, I guess? Has anything permanent changed with regard to bitcoin's value proposition to the world? It should be fairly obvious that services which directly antagonize law-enforcement agencies are going to be shutdown much of the time. Bitcoin is, and always was, about far more than black-market transactions.

Again, we're in the phase of bitcoin's development where daily transaction volume is 2nd order. The future potential and store-of-value properties far outweigh current transactional usage with regard to price support, so the fact that SR transactions are off the table for the moment should be a mostly irrelevant turn of events to anyone who's thought this through already.

Thanks for the reply, thats what crossed my mind.  If history repeats itself, the media coverage alone could give it a huge climb. 

price already dropping !!! im in the long game , swings and round-abouts as we say in the UK

[bigasic]

of course there will be  knee-jerk reaction and the price will dive, but give it time, it will eventually recover...

[TippingPoint]

Children posting all over FB have no idea how their future lives will be controlled, constrained, and prosecuted for pastcrimes.

Absolutely.

Identify yourself, your interests, and your associates.

Then be surprised when they miraculously put all the pieces together.

[PayPal]

Ohhh SHIT!

[Mike Hearn]

This is fantastic news. I was expecting it for a long time, actually at the Amsterdam conference last week I was talking to a member of the Dutch police who had taken part in a panel, and mentioned I was waiting for DPR to show up in a US court at some point. I didn't think it'd happen a week later, but this outcome was eventually inevitable.

The point I made to Niels (the police guy) was that DPR had way too much confidence in the technologies he was using to keep him safe. I said I understood Tor and Bitcoin very well and there's no way I'd treat either of them as a silver bullet. And that's assuming NO mistakes. I didn't even know how I'd cash out. The best some people listening in could offer was "find someone who would help you cash out that's not an exchange". But where would you find someone capable of sinking non-trivial amounts of Bitcoins for dollars, outside of an exchange?

It's hard to tell from the documents to what extent he cashed out. Perhaps those details will come at trial. But given he was living with flat mates I guess his lifestyle was cheap and he probably didn't ever cash out into dollars in a big way - obviously lacking any fake IDs he didn't have any way to use the exchanges. This is also very good news. It is a strong argument that Bitcoin is not some super trivial way for criminals to make wild profits - despite the huge sums being quoted by the FBI agent, those are theoretical amounts of dollars he could have obtained if he'd had some way to do so, not amounts he actually made (given the tiny size of the Bitcoin economy).

By the way - I'm amazed at how many people are surprised that a drug dealer with extreme anarcho-capitalist tendencies turned out to be not a swell guy! Imagine that!

[xzempt]

wonder if MtGox suspends transactions  again....

[alexanderanon]

By the way - I'm amazed at how many people are surprised that a drug dealer with extreme anarcho-capitalist tendencies turned out to be not a swell guy! Imagine that!

And what are you, a moderate? Enjoy having no soul.

[bigasic]

honestly, all the exchanges should probably shut down for day, let it blow over

[01BTC10]

Shorted my life... let's see what happen next.

[xzempt]

no exchanges should shut down.... it is what it is.... no one says shut down markets when the price is rising.... so why should they when prices fall?

[xzempt]

maybe this will get some people to turn off some miners...   

[sinner]

should the next Silk Road use Namecoin's .bit address to avoid seizure?

[xzempt]

lol silkroadv2.bit

[Clark]

[QuestionAuthority]

honestly, all the exchanges should probably shut down for day, let it blow over

Quiet! We want cheap coins. Buy, buy, buy. lol

[Ipsum]

By the way - I'm amazed at how many people are surprised that a drug dealer with extreme anarcho-capitalist tendencies turned out to be not a swell guy! Imagine that!

I know, shocking isn't it?

[IncreaseMyT]

Some lucky guy just bought 10k in bit on btc @ 70 each.  That has to be stealing   Wish that was me  

[xzempt]

without Silkroad or a Comparable alternative.....   we might see bitcoins back in the $40's