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LongStrangeTrip
Deadhead


Registered: 09/19/09
Posts: 5,382
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Re: FEDS SEIZE SILK ROAD [Re: fapjack]
#18932963 - 10/04/13 08:06 PM (10 years, 4 months ago) |
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That was a long time ago fapjack xD....times have changed
-------------------- Nothing I say or do is factual; every single thing I write is a work of fiction. Got no idea what I'm talking about here~ "Once in awhile, you get shown the light, in the strangest of places if you look at it right"~ (Grateful Dead) "o puer, qui omnia nomini debes"; "You, boy, who owe's everything to a name"~ Mark Anthony "Nihil est incertius vulgo, nihil obscurius voluntate hominum, nihil fallacius ratione tota comitiorum."; "Nothing is more unpredictable than the mob, nothing more obscure than public opinion, nothing more deceptive than the whole political system."~ Cicero
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QT3BFLEE
ส้


Registered: 02/17/13
Posts: 744
Loc: Murica
Last seen: 5 years, 5 months
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Quote:
LongStrangeTrip said: Very untrue.
Its an extremely respectable and globally embraced currency.
It is not used just to buy "drugs"; in new york there are now even stores that take PHYSICAL "bitcoins", and banks transferring BTC into these money tendered coins. You can use BTC to buy a car, a bike, clothes, ANYTHING ON THIS PLANET. Even stock shares in the global NASDAQ. You are completely ignorant if you think BTC is just for buying drugs
Just cuz it has other intended purposes doesn't mean that its main use isn't for illicit purposes.
To put this all into perspective: The Silkroad closure led to a 20% drop in the bitcoin. The 2008 financial crisis was led by a 20% drop in stock markets (DJIA -18%, S&P500 -20%).
One might say apples and oranges, but it gives perspective on the enormity that the silkroad closure was for the bitcoin.
Drugs and illicit activity play a large role in the value of the bitcoin. Just because it has other intended purposes does not mean it gets used nearly as much for those purposes, at least not nearly as much as it does for illicit ones.
I'm very interested how the fed will handle selling off the seized assets from the SR closure. And what of DPR's $80 million or more stash? The man will most likely get a life sentence, his involvement is on par with Pickard/Apperson bust in early 2000's.
-------------------- My Public Key
Edited by QT3BFLEE (10/04/13 08:56 PM)
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fapjack
Title



Registered: 07/26/07
Posts: 16,574
Loc: Central New Jersey
Last seen: 3 years, 11 months
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Re: FEDS SEIZE SILK ROAD [Re: QT3BFLEE]
#18933175 - 10/04/13 08:58 PM (10 years, 4 months ago) |
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If there was never a silk road, BTC would still be worth jack shit... I mean how much are litecoins worth, and the only reason they are worth anything is because of BTCs. If another currency replaces BTCs among criminals, BTC will be worth jack shit.
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dark3st
Stranger

Registered: 08/02/13
Posts: 3,332
Last seen: 8 years, 4 months
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Re: FEDS SEIZE SILK ROAD [Re: fapjack]
#18933256 - 10/04/13 09:18 PM (10 years, 4 months ago) |
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I hope the value goes to shit when the feds try and sell it off so they get Jack shit (like 1 BTC = $.0001) and goes up 100 fold immediately afterwords.
-------------------- Back.. I'm going to do it...I'm getting sober from opiates ... I got weed, gabapentin, propranolol, and GHB, I have 100mg tramadol left. I can do this. I can do this. OFINTQWGVGAKGCYKBUBX free dark P. Tampanensis prints to ODD members.
no stamps atm FREE SEEDS for ODD WCA members ONLY I have these seeds: Orange, red, and yellow sweet peppers, Purple poppies, White Habanero, Yellow Thai, Bolivian rainbow peppers, milk thistle, red chilly pepper, HBWR.
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lessismore
Registered: 02/10/13
Posts: 6,268
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Re: FEDS SEIZE SILK ROAD [Re: dark3st]
#18933335 - 10/04/13 09:35 PM (10 years, 4 months ago) |
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I hope he kept his wallet on another server for security reasons and donated 90% to charity
even if they seize it, he would have donated to a good cause and donations to charity would maybe give him a lesser sentence, and give good news feedback on the drug war ?
I mean.. what would you do with $80m if you were living off $1000 a month, simple lifestyle, meditating you got everything you need... $1m would be enough probably, because you don't feel like going back to living with 'more is better' when you have more appreciation with less
I wonder what he did with them and if the feds got them... the paper didn't seem to mention anything about it
(btw not sure $80m is the right amount, might only be 5% of that... iirc $80m was the processed amount, but 5% is still $4m which is a lot)
if you meditate/live simple lifestyle which it seemed he did, you certainly don't need a lot of money it would be logical if he had saved them all, so hopefully they don't find them
Edited by lessismore (10/04/13 09:46 PM)
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trampis
mad hatter


Registered: 01/01/06
Posts: 3,545
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Re: FEDS SEIZE SILK ROAD [Re: lessismore]
#18933487 - 10/04/13 10:10 PM (10 years, 4 months ago) |
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If the whole "hit" charge thing is legit I don't think his sentence is going to be lessened for anything.
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Smushroom
Avid Learner

Registered: 02/02/05
Posts: 2,806
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Re: FEDS SEIZE SILK ROAD [Re: lessismore]
#18933716 - 10/04/13 10:57 PM (10 years, 4 months ago) |
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Quote:
mio said: (btw not sure $80m is the right amount, might only be 5% of that... iirc $80m was the processed amount, but 5% is still $4m which is a lot)
SR did $1.2 BILLION in sales. $80 million is the commision he took in. Once you subtract overhead and his living expenses for the past couple years I would guess he still has about $50-60M in personal wallets if not more.
The $3.6M wallet they seized was the BTC SR was holding in escrow. No mention has come of his personal wallets.
The $1000 a month was what he was paying in rent for a bedroom in a multi-bedroom house/apartment, not what he was living off of. He definitely wasn't spending much but he wasn't living as cheaply as you want to think he was.
I agree with trampis, the murder for hire will have him looking at a life sentence or possibly the death penalty (as I mentioned above). Since the Feds already have full access to SR the only thing that DPR has to negotiate with is his personal wallet. Voluntarily forfeiting $80M goes a long way to getting that life term dropped down to 15-20 years.
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Shpongle1



Registered: 10/20/09
Posts: 3,163
Loc: Above The Clouds
Last seen: 2 years, 6 months
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Re: FEDS SEIZE SILK ROAD [Re: Smushroom]
#18934173 - 10/05/13 12:47 AM (10 years, 4 months ago) |
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Quote:
QT3BFLEE said:
Quote:
LongStrangeTrip said: Very untrue.
Its an extremely respectable and globally embraced currency.
It is not used just to buy "drugs"; in new york there are now even stores that take PHYSICAL "bitcoins", and banks transferring BTC into these money tendered coins. You can use BTC to buy a car, a bike, clothes, ANYTHING ON THIS PLANET. Even stock shares in the global NASDAQ. You are completely ignorant if you think BTC is just for buying drugs
Just cuz it has other intended purposes doesn't mean that its main use isn't for illicit purposes.
To put this all into perspective: The Silkroad closure led to a 20% drop in the bitcoin. The 2008 financial crisis was led by a 20% drop in stock markets (DJIA -18%, S&P500 -20%).
One might say apples and oranges, but it gives perspective on the enormity that the silkroad closure was for the bitcoin.
Drugs and illicit activity play a large role in the value of the bitcoin. Just because it has other intended purposes does not mean it gets used nearly as much for those purposes, at least not nearly as much as it does for illicit ones.
I'm very interested how the fed will handle selling off the seized assets from the SR closure. And what of DPR's $80 million or more stash? The man will most likely get a life sentence, his involvement is on par with Pickard/Apperson bust in early 2000's.
How do you explain the fact that bitcoins are already nearly back where they were before? I had just purchased a decent sum of btc the day before this all went down. Started stressing and lost some decent equity...for about 8 hours. I'm still down but literally like $50. Everyone was freaking out thinking "I'm going to get rich as fuck buying BTC when they drop in the coming days!" Really didn't happen for longer than a couple hours. I'm already back to losing less than I always knew was possible on a normal day given the volatility of BTC that purchasing has always put at risk.
Quote:
Smushroom said: I agree with trampis, the murder for hire will have him looking at a life sentence or possibly the death penalty (as I mentioned above).
Life sentence would be more to do with the massive scale and amount of drug trafficking, plus the money laundering, tax evasion, etc etc in my opinion. The degree to which he is accountable for drug dealings... Over 1.2 BILLION?! This is enough for a life sentence alone. This "hit" is going to get the media stirred up and might get people who are already interested in SR talking, but once a defense attorney gets his chance to speak on it, its likely going to hold very little, if any, weight in a court of law. A few blocks of text, even discussing murder for hire, is unlikely to be definitively pinned solely to this kid. I'd put huge money up, there's no way in hell this dude is getting the death penalty. No way.
-------------------- There are more people imprisoned for the commission of drug offenses in the United States - close to 500,000 - than are incarcerated in England, France, Germany, and Japan for all crimes combined. Examined in another way, the United States has 100,000 more people incarcerated for nonviolent drug offenses than all the countries of the European Union combined, despite the fact that the European Union has 100 million more citizens.
- "Drugs and Drug Policy: The Control of Consciousness Alteration, 2007.
Edited by Shpongle1 (10/05/13 12:52 AM)
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teknix
𓂀⟁𓅢𓍝𓅃𓊰𓉡 𓁼𓆗⨻



Registered: 09/16/08
Posts: 11,953
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Re: FEDS SEIZE SILK ROAD [Re: Smushroom]
#18934433 - 10/05/13 02:20 AM (10 years, 4 months ago) |
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Wait a minute, I thought that the shroomery doesn't let you make an account with tor? . . .
Edited by teknix (10/05/13 06:39 AM)
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teknix
𓂀⟁𓅢𓍝𓅃𓊰𓉡 𓁼𓆗⨻



Registered: 09/16/08
Posts: 11,953
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Re: FEDS SEIZE SILK ROAD [Re: teknix]
#18934456 - 10/05/13 02:26 AM (10 years, 4 months ago) |
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Guys use a macchanger.
it's easy,
macchanger -r wlan0
or
macchanger -r eth0
Edited by teknix (10/05/13 06:38 AM)
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: FEDS SEIZE SILK ROAD [Re: teknix]
#18936145 - 10/05/13 01:42 PM (10 years, 4 months ago) |
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Bitcoins are right back where they were and the market has absorbed the news of sr with hardly a ripple a couple days later.
DPR will not be allowed to walk or get off with 20 years even if he gives up his btc stash. They might cut him a deal taking death penalty off the table and recommending life or maybe just 50 years but he is not getting out anytime soon. SR was in the news too much, i would not be surprised if they refused to deal and simply went for the max. 60 to 70 mill is nothing to the govt, they steal more than that from us almost every day.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
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funkerdslr
Δ9



Registered: 04/08/13
Posts: 384
Last seen: 5 years, 10 months
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Re: FEDS SEIZE SILK ROAD [Re: Stonehenge]
#18936304 - 10/05/13 02:16 PM (10 years, 4 months ago) |
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Not horrible news all around though, anyone smart enough to buy up a few BTC a few days ago made an awesome investment.
-------------------- RIP Alice
<3 Chinacat72 <3
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4runner


Registered: 07/16/10
Posts: 15,406
Loc: State of Jefferson
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Re: FEDS SEIZE SILK ROAD [Re: funkerdslr]
#18936944 - 10/05/13 05:05 PM (10 years, 4 months ago) |
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I wish I has some money to buy when i heard the news. I watched it bottom out at around $110. Then I watched it sit there for a while and slowly make it back up towards $125.
And yes, it's right now about $2 bucks more than it was at as about 9:45am PST the morning the news broke, and about 30 minutes before the drop in price.
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Deemstar
Doctor Deemstar



Registered: 10/11/12
Posts: 883
Loc: The void
Last seen: 24 days, 46 minutes
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Re: FEDS SEIZE SILK ROAD [Re: 4runner]
#18937041 - 10/05/13 05:25 PM (10 years, 4 months ago) |
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An estimated 16,000 new accounts were made at another popular online marketplace the same day SR went down.
-------------------- Gnome-miii-odd JAH!!! Pasta-far-eye! R.I.P. Georgie poor G A.K.A. Jorgon Lucy
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SurReality
PsychAdemic


Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA
Last seen: 1 year, 7 months
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Re: FEDS SEIZE SILK ROAD [Re: teknix]
#18937947 - 10/05/13 09:05 PM (10 years, 4 months ago) |
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you shouldn't need tor to make an account. not allowed to do illegal shit here anyway.
-------------------- ProDOPEFiend Diary: (my public diary) PodCast
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dark3st
Stranger

Registered: 08/02/13
Posts: 3,332
Last seen: 8 years, 4 months
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Re: FEDS SEIZE SILK ROAD [Re: SurReality]
#18939160 - 10/06/13 07:41 AM (10 years, 4 months ago) |
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Altoid needed to use tor but didn't lol
-------------------- Back.. I'm going to do it...I'm getting sober from opiates ... I got weed, gabapentin, propranolol, and GHB, I have 100mg tramadol left. I can do this. I can do this. OFINTQWGVGAKGCYKBUBX free dark P. Tampanensis prints to ODD members.
no stamps atm FREE SEEDS for ODD WCA members ONLY I have these seeds: Orange, red, and yellow sweet peppers, Purple poppies, White Habanero, Yellow Thai, Bolivian rainbow peppers, milk thistle, red chilly pepper, HBWR.
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Darkenshroom
PsychedelicExplorationist


Registered: 02/24/06
Posts: 683
Loc: I don't exist on this pla...
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Re: FEDS SEIZE SILK ROAD [Re: SurReality]
#18939179 - 10/06/13 07:52 AM (10 years, 4 months ago) |
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Nothing will truly stop the illicit markets except the gov cracking TOR (which the DPR papers pretty clearly state they are no where near achieving). People migrated to other locales I am certain, others went dark, some went to private business with trusted buyers via pgp and trust.
In the end the shut down of the silk road is saddening. It is frustrating. It is irritating. But to be honest, in the grand scheme of things, it is actually miniscule.
I did not even have time to grab coins when they bottomed at $75 but in the end I saw them come back up so fast that few people got in on the low.
Cheers.
-------------------- ~The first and most important step in cultivation of the wonderful mushroom, is the cultivation of patience for without it you doom yourself to failure~
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Shpongle1



Registered: 10/20/09
Posts: 3,163
Loc: Above The Clouds
Last seen: 2 years, 6 months
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Re: FEDS SEIZE SILK ROAD [Re: 4runner]
#18939263 - 10/06/13 08:36 AM (10 years, 4 months ago) |
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Quote:
anunnakian said: I wish I has some money to buy when i heard the news. I watched it bottom out at around $110. Then I watched it sit there for a while and slowly make it back up towards $125.
Really not a great investment. Everyone is going off about all the money there was to be made but I'm just not seeing it. This btc "crash" was really nothing. With the numbers you've quoted, you would have had to risk over $7,300 to potentially earn $1,000. Really didn't miss out on much here if you didn't stock up in my opinion....
-------------------- There are more people imprisoned for the commission of drug offenses in the United States - close to 500,000 - than are incarcerated in England, France, Germany, and Japan for all crimes combined. Examined in another way, the United States has 100,000 more people incarcerated for nonviolent drug offenses than all the countries of the European Union combined, despite the fact that the European Union has 100 million more citizens.
- "Drugs and Drug Policy: The Control of Consciousness Alteration, 2007.
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4runner


Registered: 07/16/10
Posts: 15,406
Loc: State of Jefferson
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Re: FEDS SEIZE SILK ROAD [Re: Shpongle1]
#18939344 - 10/06/13 09:14 AM (10 years, 4 months ago) |
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Oh yeah, it would have taken a good chcunk of change to really earn anything. But I really watched it like a rubbernecker checking out a car crash. I saw it at it's top, and I saw it when it was at it's bottom. I Watched it climb back up and I thought, hot damn, that only tool a couple hours.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: FEDS SEIZE SILK ROAD [Re: 4runner]
#18940337 - 10/06/13 01:27 PM (10 years, 4 months ago) |
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I put a chunk of my savings into them at 65 and sold at 250 
made a little over 10 g's in 2 weeks back in march/april
used it to buy a car
--------------------

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