Silkroad crash vs. Pirate crash

[Manna]

I wonder how many bitcoins are trapped inside silkroad accounts

According to the news, about 26,000.

Feds seized their hot wallet. Actually it's less than I would have guessed, but then there might be other funds that didn't get seized but are in some kind of a limbo right now, and possibly forever lost.

The problem is not the SR hotwallet, but his cold wallet, it contains 600.000 privatly owned BTCs. Sometime there comes the time where these btcs will be sold at the market, hope that this is not the case in the next months.

[Odalv]

I wonder how many bitcoins are trapped inside silkroad accounts

According to the news, about 26,000.

Feds seized their hot wallet. Actually it's less than I would have guessed, but then there might be other funds that didn't get seized but are in some kind of a limbo right now, and possibly forever lost.

The problem is not the SR hotwallet, but his cold wallet, it contains 600.000 privatly owned BTCs. Sometime there comes the time where these btcs will be sold at the market, hope that this is not the case in the next months.

Not so tragic.

Mtgox 30-day Volume 494,497.2540031 BTC
Bitstamp 30-day Volume372,650.87323175 BTC

Edit:

I would love to buy bitcoins at single digits or feel as FIRST adopter who bought at sub $1 :-) ... 10,000 BTC/pizza

[ElectricMucus]

I wonder how many bitcoins are trapped inside silkroad accounts

According to the news, about 26,000.

Feds seized their hot wallet. Actually it's less than I would have guessed, but then there might be other funds that didn't get seized but are in some kind of a limbo right now, and possibly forever lost.

The problem is not the SR hotwallet, but his cold wallet, it contains 600.000 privatly owned BTCs. Sometime there comes the time where these btcs will be sold at the market, hope that this is not the case in the next months.

Not so tragic.

Mtgox 30-day Volume 494,497.2540031 BTC
Bitstamp 30-day Volume372,650.87323175 BTC

How much of it are the same Bitcoins being traded back and forth?

[Odalv]

How much of it are the same Bitcoins being traded back and forth?

it does not matter.  I'll feel happy if I can own 100k BTC

[adamstgBit]

I wonder how many bitcoins are trapped inside silkroad accounts

According to the news, about 26,000.

Feds seized their hot wallet. Actually it's less than I would have guessed, but then there might be other funds that didn't get seized but are in some kind of a limbo right now, and possibly forever lost.

The problem is not the SR hotwallet, but his cold wallet, it contains 600.000 privatly owned BTCs. Sometime there comes the time where these btcs will be sold at the market, hope that this is not the case in the next months.

Not so tragic.

Mtgox 30-day Volume 494,497.2540031 BTC
Bitstamp 30-day Volume372,650.87323175 BTC

How much of it are the same Bitcoins being traded back and forth?

my guess, at least half.

[adamstgBit]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them? 

[ElectricMucus]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them?  

They'll most likely auction them off, and probably it gets picked up by the press.
So I think them selling the coins on an exchange is unlikely.

[adamstgBit]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them?  

They'll most likely auction them off, and probably it gets picked up by the press.
So I think them selling the coins on an exchange is unlikely.

i wonder how long it will take to settle the case and announce the auction ...

are they going to have a trial we can all go to and watch?

[ElectricMucus]

Lets just say it will give us something to talk about for months to come.

[wachtwoord]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them?  

They'll most likely auction them off, and probably it gets picked up by the press.
So I think them selling the coins on an exchange is unlikely.

Then a (significant) discount to market prices seems unlikely.

[adamstgBit]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them?  

They'll most likely auction them off, and probably it gets picked up by the press.
So I think them selling the coins on an exchange is unlikely.

Then a (significant) discount to market prices seems unlikely.

unless all the bitcoiner at the auction come together and plan to bid 1$ and then split the coins evenly


if you think about it


1000BTC for pennies  is a far better deal then  26,000BTC for 3,000,000$

[wachtwoord]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them?  

They'll most likely auction them off, and probably it gets picked up by the press.
So I think them selling the coins on an exchange is unlikely.

Then a (significant) discount to market prices seems unlikely.

unless all the bitcoiner at the auction come together and plan to bid 1$ and then split the coins evenly


if you think about it


1000BTC for pennies  is a far better deal then  26,000BTC for 3,000,000$

Ever heard of the prisoners dilemma? If you all do that, I'll scoop them all for $1.01 ,)

[adamstgBit]

if FBI sells bitcoin, does that mean its perfectly legal for the CIA to buy them?  

They'll most likely auction them off, and probably it gets picked up by the press.
So I think them selling the coins on an exchange is unlikely.

Then a (significant) discount to market prices seems unlikely.

unless all the bitcoiner at the auction come together and plan to bid 1$ and then split the coins evenly


if you think about it


1000BTC for pennies  is a far better deal then  26,000BTC for 3,000,000$

Ever heard of the prisoners dilemma? If you all do that, I'll scoop them all for $1.01 ,)

ya the damn prisoners dilemma....

[BurtW]

Nope, because I will get them all for $1.02.  And so it goes.

I expect after a lengthy trial, appeals, etc., once they no longer need them for evidence they will hold an auction just like they do for all the houses, cars, boats, etc. that they confiscate and they will go to the highest bidder at the auction.

If you are the only Bitcoiner at the auction (not likely) you would then be able to get them for a song.

[wachtwoord]

Nope, because I will get them all for $1.02.  And so it goes.

I expect after a lengthy trial, appeals, etc., once they no longer need them for evidence they will hold an auction just like they do for all the houses, cars, boats, etc. that they confiscate and they will go to the highest bidder at the auction.

If you are the only Bitcoiner at the auction (not likely) you would then be able to get them for a song.

Normal (physical) assets usually do go cheap on such auctions. What do they do with confiscated stocks and bonds? What about PMs? If they auction those off too instead of market selling I guess the auction price will at best be only a few percent south of the market rate (but I'm only speculating).