1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM

[N12]

If this were pirate and he were crazy enough to pull of this stunt, it would provide a perfect opportunity for long term investors to average down and then sit back and watch the short squeeze unfold. I would very much look forward to this scenario.

Without Bitcoinica and without shorting, where would such a short squeeze come from?

[bitcoinBull]

I thought we determined that this was the silk road escrow wallet

where? link?

What I mean to say is that I sent btc to silk road and then I tracked the funds. They immediately went to that address. That is Silk Road's main storage. Nearly two million USD is tied up in the Silk Road Marketplace.

This account will now be thrown away.

[ArticMine]

If this were pirate and he were crazy enough to pull of this stunt, it would provide a perfect opportunity for long term investors to average down and then sit back and watch the short squeeze unfold. I would very much look forward to this scenario.

Without Bitcoinica and without shorting, where would such a short squeeze come from?

If there is one player in a position to short Bitcoin on a massive scale its Pirate, since has has well known liabilities denominated in BTC. If he moves the corresponding asset from BTC to USD by selling the borrowed BTC for USD, he has an instant BTC short position.

[Spekulatius]

I thought we determined that this was the silk road escrow wallet

where? link?

What I mean to say is that I sent btc to silk road and then I tracked the funds. They immediately went to that address. That is Silk Road's main storage. Nearly two million USD is tied up in the Silk Road Marketplace.

This account will now be thrown away.

I dont see any proof for either the pirate nor the SR theory in the thread linked to your quote.
But it the whole address was seemingly immediately drained once this thread was created, linking it with pirate.
What puzzles me though is that blockexplorer.com and blockchain.info both show a still available balance of 447835.01317523 BTC for this address. But her: https://blockchain.info/charts/balance?address=1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM it appears to be empty. Error?

[FreeMoney]

I thought we determined that this was the silk road escrow wallet

where? link?

What I mean to say is that I sent btc to silk road and then I tracked the funds. They immediately went to that address. That is Silk Road's main storage. Nearly two million USD is tied up in the Silk Road Marketplace.

This account will now be thrown away.

I dont see any proof for either the pirate nor the SR theory in the thread linked to your quote.
But it the whole address was seemingly immediately drained once this thread was created, linking it with pirate.
What puzzles me though is that blockexplorer.com and blockchain.info both show a still available balance of 447835.01317523 BTC for this address. But her: https://blockchain.info/charts/balance?address=1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM it appears to be empty. Error?

Way more likely for the graph to be in error than explorer and .info.

[Bitcoin Oz]

Occams razor says the pirate is silk road's mixer.

[myrkul]

Occams razor says the pirate is silk road's mixer.

Except SR was trucking along well before pirate started his thing?

Correct me if I'm wrong, here. I know he's been doing this (whatever it is) for a while, but does the start of that coincide with SR starting a new mixer or something?

[nimda]

Don't worry, all of the balance graphs end at 0.

[FreeMoney]

Occams razor says the pirate is silk road's mixer.

That would be an insane price to pay for clean coins.

[smoothie]

If this were pirate and he were crazy enough to pull of this stunt, it would provide a perfect opportunity for long term investors to average down and then sit back and watch the short squeeze unfold. I would very much look forward to this scenario.

Without Bitcoinica and without shorting, where would such a short squeeze come from?

I think he meant that if pirate sells too low and the price rises dramatically and forces him to buy back in at a higher price...that would squeeze him because ultimately he would have less btc

[sadpandatech]

If this were pirate and he were crazy enough to pull of this stunt, it would provide a perfect opportunity for long term investors to average down and then sit back and watch the short squeeze unfold. I would very much look forward to this scenario.

Without Bitcoinica and without shorting, where would such a short squeeze come from?

I think he meant that if pirate sells too low and the price rises dramatically and forces him to buy back in at a higher price...that would squeeze him because ultimately he would have less btc

aye, that's exactly what it would do. The asks would not follow down no where near quick enough for a 517k BTC seller to buy back anything profitably.

[miscreanity]

So... is anyone else attempting to crack the private key?

[Yuhfhrh]

So... is anyone else attempting to crack the private key?

Lol

[sadpandatech]

So... is anyone else attempting to crack the private key?

Lol

HAHA, sure. Maybe if we pool together a million worth of new ASICS and spend the next thousand years on it, we may have a 1% chance at it. ;p  *not actual odds. There are people that know the math on it, and I am NOT one of them*

[ArticMine]

If this were pirate and he were crazy enough to pull of this stunt, it would provide a perfect opportunity for long term investors to average down and then sit back and watch the short squeeze unfold. I would very much look forward to this scenario.

Without Bitcoinica and without shorting, where would such a short squeeze come from?

I think he meant that if pirate sells too low and the price rises dramatically and forces him to buy back in at a higher price...that would squeeze him because ultimately he would have less btc

Yes. Less BTC than the outstanding BTC debt to pirate's lenders forcing pirate to have to buy more BTC in order to pay back his lenders further forcing up the price and increasing his losses. This is exactly how a short squeeze works. The net result is sell low first, then afterwards buy high.

This failed bear strategy differs from the more commonly understood failed bull strategy of buy high first, then afterwards sell low in the order of the transactions, but not in the losses produced. 

[FreeMoney]

So... is anyone else attempting to crack the private key?

Lol

HAHA, sure. Maybe if we pool together a million worth of new ASICS and spend the next thousand years on it, we may have a 1% chance at it. ;p  *not actual odds. There are people that know the math on it, and I am NOT one of them*

But mayyyyybe the key is the 40th SHA256 of "I'm a pirate 200 years too late!"

[sadpandatech]

So... is anyone else attempting to crack the private key?

Lol

HAHA, sure. Maybe if we pool together a million worth of new ASICS and spend the next thousand years on it, we may have a 1% chance at it. ;p  *not actual odds. There are people that know the math on it, and I am NOT one of them*

But mayyyyybe the key is the 40th SHA256 of "I'm a pirate 200 years too late!"

  "I'm a pirate 200 years too late!" = 1mB29Xk1p9EP81nmtHX5KnwYzviw3HTAL

[BTCurious]

The conspiracy theories are really crappy today.

Silk road doesn't charge for mixing coins.
Silk road doesn't need to borrow a large amount of Bitcoins.
What happened to Ponzi, anyway?

[Vandroiy]

Could it be Gox cold storage?

Assuming I got all the times properly in UTC, Pirate first dump happened, and about half an hour later, chunks went out of that address. I also know some part of Gox storage had roughly that size at another time.

Proceedings would be: dump occurs, people who bought want to withdraw, hot wallet runs low, gets manually replenished. Japan is UTC+9, so it would be around noon -- credible that someone is there to balance out the wallets.

Just a theory. It could also explain why the funds were moved in irregular chunks. Anyway, I can't quite get the timings of some other theories to work out with the dump happening before the address activity.

[Spekulatius]

Don't worry, all of the balance graphs end at 0.

Ah crap, that made me think pirate withdrew all his 517k BTC and will maybe dump that to fulfill my conspiracy theory from above. Logically I removed my bid at 7.83 USD/BTC last night to place it at 1.23 USD/BTC in order to catch that megadump. Dammed, I could have cought that 10% dump instead!

Well, ok Im going back to square one, but DONT YOU DARE PULL OFF THAT CRAZY DUMP RIGHT NOW!!