Silk Road: Trail of 11,329.89BTC

[BCB]

https://bitcointalk.org/index.php?topic=94675.msg3361705#msg3361705

Also has anyone made any connection between these SR Addresses and BCTST Addewssws?

Can you please share those addresses with us here? I don't know which addresses you are talking about.

This is one of pirateat40's old payout addresses. 

1LkkxPDNAvnFxc3RSnq4Xk27cTPBcJqBrm

A few defrauded users had send me their pay-in and payout addresses last year when there was small community effort at doing some similar (more rudimentary) block chain analysis to try to find out where some of these funds ended up.  I'll see if I can dig them up.

[1715591494]

1715591494

[1715591494]

1715591494

[1715591494]

1715591494

[1715591494]

1715591494

[LoudPacKK]

it's likely he used a tumbler he designed himself... probably the same one that was on SR.

silk road is known to have a tumbler, though considered not strong.. as OP states.
the silk road tumbler is what lead to the money laundering charges listed in the warrant.

[Phinnaeus Gage]

Just so that it doesn't go unnoticed, this thread was linked from Forbes: http://www.forbes.com/sites/kashmirhill/2013/10/17/does-this-17-million-bitcoin-wallet-belong-to-alleged-silk-road-mastermind-ross-ulbricht/

When the FBI took down online drug bazaar Silk Road and seized its assets, the government became the proud new owner of over 26,000 Bitcoins, or almost $4 million that Silk Road customers had sitting in their accounts. The FBI plans to liquidate those when judicial proceedings are over, but it also hopes to seize many more Bitcoins. The FBI suspects that alleged Silk Road mastermind Ross Ulbricht, 29, who was arrested in San Francisco earlier this month, is sitting on 600,000 Bitcoins, or $80 million. I suspect that number’s overblown; that’s the total commission on the 9.5-million worth of Bitcoin sales that Silk Road has seen during its more than two years of illicit life. Surely some have been spent over the years to maintain the site and the lifestyle of its operator(s). But even if the haul isn’t that large, whoever is behind the site would have a massive amount of Bitcoin. Now some Bitcoin enthusiasts on Bitcointalk.org think that they’ve found them.

[skull88]

nice job...
your government will be very pleased with a citizen like you 

[gwern]

There is not 600,000 coins either btw. That is the total amount of coins the FBI has said SR generated in commission since it was up and running. When you figure that for almost 2 years of SR's life, BTC's were valued at under $20, and he was paying his staff between $1,000-$2,000/week, and was paying for the servers and whatever else was involved in keeping SR secure, there's likely no where near 600,000 coins left.

I disagree on the 'no where near' claim; 500k is probably low. Please see my analysis in http://www.reddit.com/r/SilkRoad/comments/1obvm2/estimating_dprs_income_after_expenses_exchange/

[darkmule]

I disagree on the 'no where near' claim; 500k is probably low. Please see my analysis in http://www.reddit.com/r/SilkRoad/comments/1obvm2/estimating_dprs_income_after_expenses_exchange/

This is about the conclusion I reached just from a wild-ass guess.  Unless DPR was investing in some other expensive activities or managed to get swindled himself, he doesn't seem to have spent much.  He lived practically like a monk.  While San Francisco is a pretty expensive place even to live like a monk, it's not enough to put a significant dent in his money.  Assuming he saved his non-expense money, and didn't have any other big business-related expenses (like the hits) that we don't know about, he'd of course still have most of it.

[Inkvor]

its gor moneys now

[wuchengjian]

amazing!

[lucasjkr]

I disagree on the 'no where near' claim; 500k is probably low. Please see my analysis in http://www.reddit.com/r/SilkRoad/comments/1obvm2/estimating_dprs_income_after_expenses_exchange/

This is about the conclusion I reached just from a wild-ass guess.  Unless DPR was investing in some other expensive activities or managed to get swindled himself, he doesn't seem to have spent much.  He lived practically like a monk.  While San Francisco is a pretty expensive place even to live like a monk, it's not enough to put a significant dent in his money.  Assuming he saved his non-expense money, and didn't have any other big business-related expenses (like the hits) that we don't know about, he'd of course still have most of it.

Except for most of his career, BTC was much less valuable; he'd have put significant dents in his wallet up until the last 6 or 10 months when bitcoin really took off. Remember, in June 2012 for instance, a bitcoin was only $7. Every $1000 in expense (hosting, employees, living expenses) would have depleted him of 142 bitcoins which is now worth $27,000.

Between site hosting, paying developers/consultants, paying employees $1000-$2000/wk, taking money for his own expenses, etc,  the true amount that he retained for himself  has got to be far smaller. Especially the early months of his existance, the commissions he received were huge is terms of bitcoins, but they were likely spent long ago just trying to keep the place going.

[Ente]

I disagree on the 'no where near' claim; 500k is probably low. Please see my analysis in http://www.reddit.com/r/SilkRoad/comments/1obvm2/estimating_dprs_income_after_expenses_exchange/

This is about the conclusion I reached just from a wild-ass guess.  Unless DPR was investing in some other expensive activities or managed to get swindled himself, he doesn't seem to have spent much.  He lived practically like a monk.  While San Francisco is a pretty expensive place even to live like a monk, it's not enough to put a significant dent in his money.  Assuming he saved his non-expense money, and didn't have any other big business-related expenses (like the hits) that we don't know about, he'd of course still have most of it.

Except for most of his career, BTC was much less valuable; he'd have put significant dents in his wallet up until the last 6 or 10 months when bitcoin really took off. Remember, in June 2012 for instance, a bitcoin was only $7. Every $1000 in expense (hosting, employees, living expenses) would have depleted him of 142 bitcoins which is now worth $27,000.

Between site hosting, paying developers/consultants, paying employees $1000-$2000/wk, taking money for his own expenses, etc,  the true amount that he retained for himself  has got to be far smaller. Especially the early months of his existance, the commissions he received were huge is terms of bitcoins, but they were likely spent long ago just trying to keep the place going.

Well, did you read the post on Reddit? gwern did run through the numbers, exactly the way you suggest: "How many bitcoins did DPR have to spend each week at the back-then exchange rate?".
I find his numbers plausible. Unless, of course, some other big funds drawing positions are not known of.

Ente

[lucasjkr]

No, didn't spot that one... Do you have a link handy or should I click my way through there?

[Ente]

No, didn't spot that one... Do you have a link handy or should I click my way through there?

Well, you quoted it already :-P

http://www.reddit.com/r/SilkRoad/comments/1obvm2/estimating_dprs_income_after_expenses_exchange/

Ente

[lucasjkr]

Only by osmosis of reading the same article and discussion threads; first time seeing that page. I'm gonna wager and say that he had far less BTC left over than that estimate. Id say I'd play with the numbers later, but there isn't really a pressing need or anything!

[iron77]

Guys, this address is allegedly SR?
https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a

I can tell you that it is 1-hop from my Mt. Gox deposit address from 2011. Basically I deposited to Gox, and within few hours, deposit has been moved to this address and everything is still there. Could it be Mt Gox cold storage?

[Rampion]

Guys, this address is allegedly SR?
https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a

I can tell you that it is 1-hop from my Mt. Gox deposit address from 2011. Basically I deposited to Gox, and within few hours, deposit has been moved to this address and everything is still there. Could it be Mt Gox cold storage?

Very unlikely. It's much more likely that's one DPR's addresses.

[iron77]

Very unlikely. It's much more likely that's one DPR's addresses.

So, the other only option would be that few hours after my deposit, Mt. Gox used this coins to process a withdrawal that SR requested? There are no other options to explain this, right?

[Ente]

Very unlikely. It's much more likely that's one DPR's addresses.

So, the other only option would be that few hours after my deposit, Mt. Gox used this coins to process a withdrawal that SR requested? There are no other options to explain this, right?

Knowing nothing else, this seems to be the most likely explanation to me.

Ente

[oakpacific]

Very unlikely. It's much more likely that's one DPR's addresses.

So, the other only option would be that few hours after my deposit, Mt. Gox used this coins to process a withdrawal that SR requested? There are no other options to explain this, right?

Wonder if it's possible thaty you give us your transaction link? Thanks.

[iron77]

just PM'd you on ##mtgox-chat

[ISAWHIM]

When govts claim to seize coins... we should put those in a list...

As a community, the govt is not entitled to exchange values "today" of those coins from OUR money, that they admit to having. They should get $0.01 per coin, or nothing... That is theft from us, the way I see it.

Just got to tell us the wallets and addresses... add that into the exchanges "security do not exchange" list... since that would be the govt laundering stolen/seized money. (Making an app that checks for those "seized" addresses, to auto-reject them until they have been sold for that $0.01 price at an "official" exchange... would be nice too.)

Force the exchanges to reward all accounts equally, with the exchanged coins. (Would promote the exchanges too.)

They are not entitled to our value. They obtained the coins through force and seizure. I believe they are forced to destroy drug-money, not spend it... when obtained.

Once "exchanged", they would have normal value, to the split-users they were divided among. (So they could not just come back and buy their own coins, to resell at our prices.)