Silk Road Bitcoin Wallet Activates Again, Huge Dump Anticipated by the Community

[annasadia]

It has a very smokey news. We cant get a clear conpectual result from the site so it is tough to determine the information legitity. The silk road site have been shut down to times from its being launched and the owner is arrested and setenced life in jailmso there is a very small possibility of this type of huge transaction.

[samarabtc]

The information of having this ammount of bitcoin stacked is seems bit weird I don’t think the information is correct if actually theese ammount of coin is puched or minned there must have been a huge change till today. They cant use it for payment of anything or else if they want to sell all the coins yes there will be a drastic change in the market but I think its all hoax.

[Kakmakr]

"much ado about nothing" - a great fuss ("much ado") is made of something which is insignificant ("nothing") ...comes to my mind, when I look at this.

A once off dump of $1 Billion Dollars worth of bitcoins is definitely not going to trash the Bitcoin price for a long time, because that is just a drop in a bucket of the $125 675 135 876 USD market cap.

A Reddit user mentions Silkroad and every media platform jumps on the opportunity to create a sensational story around it.  

[croptodic]

Bitcoin or cryptocurrency is not like other physical curriences in the worls like UDS, EURO. It’s a digital currency, Its only existence is in the internet. The only of its groth is by mining so. If they have grown this ammount of bitcoin as per mention in the site which is unreliable there are only two ways one they have bought it or minned it if one of both happened its impossible that this ammount of transaction or process have slipped the eye of the community.

[jefrystar]

I think its not a reason of bitcoin dump this day. Actually its not dump it is fluctuating. I believe silk road bitcoin wallet that could not deactive. I will confident about this coin.

[gentlemand]

The real experts have spoken - https://twitter.com/wizsecurity/status/1037030003068653569

That's the crew that picked apart the Gox hack and pointed towards the BTC-e bloke. According to them it's a Gox whale and nothing to do with Silk Road.

[sublime5447]

This is just the writer’s speculation based only on redditor’s observation the without further search, but this can be a disaster for Bitcoin if it happens, especially if it’s on the headline news. Before this happens, negative sentiments and FOMO will be created if this news continues to be blown up to the public.

[RockerNun]

I'm not sure they belong to the owner of the Silk Road. I do not think the information is correct if the real amore of the coins is puched or minned must have been a big change till today.

[Gamblet]

Now the strength of the sellers are depleted and it is very important for these bears that someone starts again in large quantities. In addition, such sales will not choose the best price and will be ready to sell at the price that the buyer will offer

[MaximusJune]

Hope its activation news is not true. Otherwise there is a big change in the dump in the future. Finally, we expect huge growth. If this finally happens, then this really is not good news as another landfill is not what we are looking for now but a pump. This is really bad news for the market and it may have a negative impact on the market for bitcoin. We hope that this will soon stop soon to improve bitcoin. It was better when it was deactivated and let's hope it was disabled again.

[jeffer8035]

the truth is that the dark net will always exist now that the silk road stopped the fbi the owner of the web site and that they had sentenced him to 30 years and then to life imprisonment there are always criminals who use these means to make their misbehavior nothing escapes that is the same as money on paper have many uses depends on who has it wrongdoing will be trapped by the authorities of their respective countries the only thing that there is also a very good community that throws these projects forward we do not leave which minorities affect bitcoin