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angelamerkel
Member
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Activity: 92
Merit: 10
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October 25, 2013, 10:41:58 PM |
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How did they obtain the password? A deal? Torture? These 144K Bitcoins will be sold eventually. Thought it would have a bigger effect on the price? Or was that already expected?
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LouReed (OP)
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October 25, 2013, 11:05:22 PM |
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How did they obtain the password? A deal? Torture? These 144K Bitcoins will be sold eventually. Thought it would have a bigger effect on the price? Or was that already expected?
That's the million dollar question! As sloppy as he was, I highly doubt he stored it without good encryption! |
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tvbcof
Legendary
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Activity: 4592
Merit: 1276
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October 25, 2013, 11:07:42 PM |
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I am going to go out on a limb here and say that they will not use mtgox to liquidate these coins.  Not so sure. I'd say that there is some chance that they are effectively in complete control of the operational aspects of Mt. Gox, and it is very possible that they have every record that the organization had not deleted. The main thing arguing against this hypothesis is that whoever is running it is doing their utmost to created a smoking crater where the mountain once stood. The USG has a fairly compelling need to have an outlet for their new-found revenue stream (confiscated BTC of which where will likely be many to follow), and continuing operation of Mt. Gox would make sense just like when they confiscated the whore house in Nevada for tax reasons and continued it's operation. OTOH, maybe the U.S. Govt would be smart enough to be long term speculators and/or unpredictable whales and not be in need an outlet. I doubt it though. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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runam0k
Legendary
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Activity: 1092
Merit: 1001
Touchdown
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October 25, 2013, 11:22:20 PM |
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Love the 324btc transfers. Props.  |
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benjamindees
Legendary
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Activity: 1330
Merit: 1000
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October 25, 2013, 11:22:49 PM |
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Civil Liberty Through Complex Mathematics
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Littleshop
Legendary
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Activity: 1386
Merit: 1003
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October 25, 2013, 11:24:55 PM |
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I am going to go out on a limb here and say that they will not use mtgox to liquidate these coins. Yea, I said that one before too. I think this is bullish as those coins will be tied up for a while. |
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pedrog
Legendary
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Activity: 2786
Merit: 1031
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October 25, 2013, 11:52:59 PM |
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He had to give the coins, maybe a deal was made...
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jwzguy
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October 25, 2013, 11:54:21 PM |
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I am going to go out on a limb here and say that they will not use mtgox to liquidate these coins. Would be hilarious if they did and Mtgox froze them indefinitely. "Sorry, we need to see your power bill." |
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LouReed (OP)
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October 26, 2013, 12:01:27 AM |
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He had to give the coins, maybe a deal was made...
Way too early in the game for a deal! I don't even think he had his bail hearing in NY yet, did he? |
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Bitweasil
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October 26, 2013, 12:03:46 AM |
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That's the million dollar question! As sloppy as he was, I highly doubt he stored it without good encryption!
His opsec was miserable. They may very well have been sitting in an unencrypted wallet on his laptop/backup drive. Or secured with a password of "DPR" or something. DPR showed no signs of competence, to the point that if there weren't very compelling evidence that he is, in fact, DPR, I'd think he was someone set up to take the fall. |
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🏰 TradeFortress 🏰
Bitcoin Veteran
VIP
Legendary
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Activity: 1316
Merit: 1043
👻
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October 26, 2013, 12:11:38 AM |
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I am going to go out on a limb here and say that they will not use mtgox to liquidate these coins. Would be hilarious if they did and Mtgox froze them indefinitely. "Sorry, we need to see your power bill." Mt.Gox Support, Apr 06 13:09 (JST): Hello Alex, Thank you for your inquiry. Our support staff is away and will be giving updates in 2 weeks. Our apologies for the inconvenience caused. Please let us know if you require any further assistance. Thanks, MtGox.com Team |
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winnate
Member
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Activity: 62
Merit: 10
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October 26, 2013, 12:44:48 AM |
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He probably wrote the password on a sticky note on his computer...
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pedrog
Legendary
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Activity: 2786
Merit: 1031
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October 26, 2013, 12:56:04 AM |
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He probably wrote the password on a sticky note on his computer...
Or stored it in his gmail account... |
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User705
Legendary
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Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
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October 26, 2013, 01:00:16 AM |
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You'd think it would be cold storage. Makes one slightly wonder if this crypto is really as resistant to brute force as claimed.
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Dabs
Legendary
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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October 26, 2013, 02:36:37 AM |
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He was sloppy. That is all. I am sloppy too, but then, I don't have 144,000 bitcoins. It seems they were all stored all over the place though, distributed amongst several addresses.
Only now is it being sent to one giant FBI controlled address.
If they had the altoid private key (the 111k BTC) they would be sending it to an FBI controlled address too. That's probably in cold storage.
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Bitweasil
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October 26, 2013, 02:40:45 AM |
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You'd think it would be cold storage. Makes one slightly wonder if this crypto is really as resistant to brute force as claimed.
When done properly, it is quite resistant to brute force. Bitcoin crypto is crypto done incredibly well. |
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oakpacific
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October 26, 2013, 03:14:13 AM
Last edit: October 26, 2013, 07:37:33 AM by oakpacific |
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We'll know when his sentence is handed out.
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LouReed (OP)
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October 26, 2013, 04:25:13 AM
Last edit: October 26, 2013, 04:54:30 AM by LouReed |
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I'd be willing to bet that these coins are the Silk Road members accounts, and the first seized coins was the escrow wallets. The wallet with the 111,000 coins is his personal wallet, and they will likely never get that one. There's just way too many wallets in this one to be his personal wallet, IMHO.
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