Manhattan U.S. Attorney Announces Seizure Of Additional ...

TIL that the FBI seized 144,000 bitcoins from Ross Ulbricht (silk road guy) in 2013 following his arrest and conviction. They were valued at close to $28.5million at the time of seizure. They're now worth $1.9billion.

submitted by HumbleHumanz to Bitcoin [link] [comments]

Manhattan U.S. Attorney Announces Seizure of Additional $28 Million Worth of Bitcoins Belonging to Ross William Ulbricht (FBI NY Field Office Press Release)

Manhattan U.S. Attorney Announces Seizure of Additional $28 Million Worth of Bitcoins Belonging to Ross William Ulbricht (FBI NY Field Office Press Release) submitted by goonsack to Bitcoin [link] [comments]

TIL that the FBI seized 144,000 bitcoins from Ross Ulbricht (silk road guy) in 2013 following his arrest and conviction. They were valued at close to $28.5million at the time of seizure. They're now worth $1.9billion.

TIL that the FBI seized 144,000 bitcoins from Ross Ulbricht (silk road guy) in 2013 following his arrest and conviction. They were valued at close to $28.5million at the time of seizure. They're now worth $1.9billion. submitted by spacesticks to cryptosobstories [link] [comments]

TIL that the FBI seized 144,000 bitcoins from Ross Ulbricht (silk road guy) in 2013 following his arrest and conviction. They were valued at close to $28.5million at the time of seizure. They're now worth $1.9billion. /r/Bitcoin

TIL that the FBI seized 144,000 bitcoins from Ross Ulbricht (silk road guy) in 2013 following his arrest and conviction. They were valued at close to $28.5million at the time of seizure. They're now worth $1.9billion. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

FBI claims largest Bitcoin seizure after arrest of alleged Silk Road founder: Silk Road used Bitcoins to let users pay for drugs - but now police have arrested Ross William Ulbricht, who they say is 'Dread Pirate Roberts', the owner and operator of secret online marketplace

submitted by davidreiss666 to RepublicOfNews [link] [comments]

US Collects $48 Million in Bitcoin from Ross Ulbricht

US Collects $48 Million in Bitcoin from Ross Ulbricht submitted by ThePharmaInitiative to DNMBusts [link] [comments]

Who is the richest Bitcoin owner?

Technically, Bitcoin was worth less than 10 cents per bitcoin upon its inception in 2009. The cryptocurrency has risen steadily since then and is now worth around $6000 per Bitcoin. This is the most remarkable appreciation of the value and has created many millionaires over the last eight years.
Here are the top ten people/institutions that held a large amount of Bitcoins over time:
1. Satoshi Nakamoto
The creator of Bitcoin, who hides behind the moniker Satoshi Nakamoto, remains the major holder of bitcoins. The number of bitcoins that Nakamoto owns today is estimated at around 1.1 million, based on the early mining that he did. This is the equivalent of about $6 billion at today’s exchange rate of 1BTC to 6,098 USD. At least Nakamoto has never touched most of his bitcoins, and neither converted them into real-world currencies nor used them for any other purpose. If he were to sell his entire stash, the value of Bitcoin could plummet in an instant.
2. Bulgaria
Bulgaria is currently sitting on one of the biggest stashes of Bitcoin in the world. How did the European nation come into the possession of this enormous sum of money? A crackdown on organized crime by the Bulgarian law enforcement in May 2017 resulted in the seizure of a stash of 213,519 Bitcoins, enough to pay off a quarter of the country’s national debt.
According to Bulgarian authorities, the criminals used their technical prowess to circumvent taxes. As of June 2018, the virtual coins would be worth more than $1.2 billion. The Bulgarian government has declined to comment on the status of the coins.
3. BitFinex
BitFinex, a crypto exchange, has one of the largest bitcoin wallets with 163,133.38 BTC that are worth approximately $1 billion at the current price of $6,098.24 per bitcoin. The coins are believed to be kept in a cold wallet to protect them from cyber hacks, unauthorized access and other vulnerabilities that a system connected to the internet is prone to.
4. The FBI
The FBI is one of the largest renowned holders of Bitcoin. In September 2013, they brought down Silk Road, the infamous dark web drug bazaar, and seized 144,000 Bitcoin owned by the site’s operator Ross Ulbricht, better known as, “Dread Pirate Roberts”. Ulbricht made critical blunders that allowed investigators to locate the site and link him to it. Users of Silk Road are said to have traded around 9.5 million bitcoins since Ulbricht launched the site in 2011. Even thought the FBI sold a large amount of their Bitcoin holdings or even all, the FBI worth mentioned as they had a fortune in Bitcoin at some point. A large portion of the Bitcoins seized and sold went to Barry Silbert.
5. The Winklevoss Twins
Tyler Winklevoss and Cameron Winklevoss were among the first Bitcoin billionaires. The duo had first gained popularity when they sued the Facebook C.E.O. Mark Zuckerberg for allegedly stealing the idea of creating Facebook from them. They were contacted by Zuckerberg to develop the ConnectU site, which was to become Facebook later on.
They used $11 million of the $65 million cash compensation they received from the legal dispute with Zuckerberg to purchase 1.5 million Bitcoins in 2013. Back then, one Bitcoin traded at $120. That investment has increased more than 20000% since then.
The twins allegedly own around 1 percent of all Bitcoin in circulation. Their combined net worth is approximately 400 million. They created the Windex, funded several bitcoin-related ventures and invested $1.5 million in BitInstant.
6. Garvin Andresen
Although bitcoin is the brainchild of Satoshi Nakamoto, Garvin Andresen is credited as the person who made it what it is today. Garvin is one of the people who has been suspected to be Satoshi, a claim he denies. Rather, he says that he had a close relationship with the anonymous cryptographer for many years. The real Satoshi Nakamoto picked him as his successor in late 2010. Garvin became the chief developer of the open source code that determines how Bitcoin operates – and whether it can survive. He was once paid over $200,000 in Bitcoin by the Bitcoin Foundation for his contributions. He had already cashed out multiple times.
7. Roger Ver
Roger Ver, otherwise known as Bitcoin Jesus, is one of the first Bitcoin billionaires and believed to hold or held at least 100,000 bitcoins. The renowned libertarian allegedly dropped out of college to focus on his bitcoin-related projects. Unlike other crypto billionaires out there who are throwing their cash in the typical private Islands or luxury jets, Ver’s dream is to establish his own libertarian nation where every individual is the absolute owner of their own life and are free to do whatever they wish with their person or property. The controversial bitcoin evangelist renounced his U.S. citizenship in 2014 and relocated permanently to a small Caribbean Island.
8. Barry Silbert
Silbert is a venture capitalist and founder of Digital Currency Group. He was an early adopter of Bitcoin. He purportedly walked away with an eye-watering 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014. The US government had confiscated much of the crypto coins from Ross Ulbricht, the alleged operator of the dark web marketplace for drugs and other illegal products. Bitcoin was then worth $350, which means Silbert’s coins have skyrocketed in value from $16.8 million to $288 million.
9. Charlie Shrem
Charlie Shrem is no doubt one of the most controversial Bitcoin millionaires. He invested in a large quantity of Bitcoin in the early days of the cryptocurrency. Shrem was also an active member of the Bitcoin Foundation and founded BitInstant when he was just 22 years old. By the end of December 2014, Shrem had been found guilty of money laundering and received a two-year prison sentence. After his release from federal custody, he unveiled a startup called Intellisys Capital, a company that sells investment portfolios in blockchain companies.
10. Tony Gallippi
A famous business magnate Tony Gallippi is also believed to be one of the big holders of bitcoins. He is the brain behind BitPay, one of the most popular Bitcoin payment service providers in the world. The company was launched in May 2011 and processes over one million dollars per day. Bitpay is also one of the companies to sign contracts with major companies including Microsoft, Dell, TigerDirect, and Newegg. By 2014, the company had employed approximately 100 people.
Conclusion
It is estimated that the top 1000 bitcoin addresses own approximately 35% of the total bitcoin in circulation. There are also thousands of individuals who hold large stashes of bitcoin but have chosen to remain anonymous.
submitted by alifkhalil469 to BtcNewz [link] [comments]

The Perfect BTC Auction Storm: the $830MM in BTC Seized from Infraud and the $1.7 Billion in BTC Seized in Bulgaria

Last week Sergey Medvedev was arrested in Bangkok. This was part of a coordinated international raid that netted the arrest of 13 people across the globe associated with darkweb site "Infraud" as reported widely in the press:
https://www.washingtontimes.com/news/2018/feb/9/sergey-medvedev-russian-cybercrime-suspect-arreste/ https://www.cbsnews.com/news/us-russia-cybercrime-dark-web-market-suspect-sergey-medvedev-thailand/
Apparently, Medvedev was the administrator of the escrow service that Infraud ran to prevent members from ripping each other off in their transactions that seem to have been centered largely on stolen credit card information and devices to steal such info. (See https://krebsonsecurity.com/2018/02/u-s-arrests-13-charges-36-in-infraud-cybercrime-forum-bust/).
Since transactions were (of course) conducted using bitcoin, Thai police are reporting that they have seized 100k BTC from Medvedev (worth $830MM USD at the moment). How Thai police could have gotten his private keys is a matter that has been debated on Reddit since the arrest. While one commenter humorously suggested that skillfully applied 50 baht pliers could circumvent any digital security measures, it is obvious that many nefarious forms of "advanced interrogation" could have produced the private keys. What isn't clear, is what will happen to those nearly $1 Billion USD in BTC. Will the Thai police keep them? Will the US Government end up with them? Will they split them? Most importantly, will they be sold off?
The US Marshal's Service obviously has a track record of selling off BTC with the most notable example being the Silk Road Auction in 2014 after the arrest of Ross Ulbricht where Tim Draper and others bought huge chunks of the seizure at auction.
Obviously, an $830 million USD BTC auction would make a lot of headlines and could have a significant impact on BTC markets regardless of what the eventual auction winners planned to do with the coins. But, a lingering question remains: What if Medvedev coins weren't the only ones seized?
The Thai police announced the BTC they seized. But, the coordinated international dragnet also involved law enforcement in the U.S., Britain, Australia, France, Italy, Kosovo, and Serbia. Chances are good that there was additional BTC seized from the other 12 individuals. Luckily, the Department of Justice's Grand Jury Indictment of those people might give us a clue how much the DOJ thought those individuals MIGHT have.
Here is the grand jury indictment of 36 people that led to that arrest. (https://www.justice.gov/opa/press-release/file/1032021/download) As the US gov't is eager to seize any and all ill-gotten gain in such arrests, the document contains a bullet list of how much money the government would like to seize from each of the indicted defendants. The forfeiture list starts on page 46.
In the case of Medvedev, and certain other ringleaders and others, the list just shows "To be calculated". This makes sense since Medvedev was apparently running Infraud's escrow service and the Feds didn't know how much Infraud BTC would be under Medvedev's control. But, for 21 of the other defendants, the indictment does list actual dollar amount. My quick back of the napkin addition is showing that these amounts add up to something like $566,047,662.74. Obviously, it's possible the arrested individuals didn't have these amounts, these amounts were not longer in BTC, the other 12 individuals actually arrested were not the ones on the list that correspond to the higher dollar amounts, or the arresting authorities were unable to recover these amounts. But, these are the amounts the DOJ would have been very happy to seize from these individuals.
But, in any case, it wouldn't be at all surprising if at least another $200 Million in BTC was seized from the other 12 arrested individuals. So, if we add this amount to Medvedev's $830 million, we could easily be talking about $1 Billion USD in BTC.
On top of this $1 Billion in Infraud BTC, we also have yet to account for the 213,519 BTC seized by Bulgarian authorities last May. (See https://www.coindesk.com/bulgarian-government-sitting-3-billion-bitcoin/) Apparently, Bulgaria has been refusing to comment on what has or will happen to those coins. But, what we do know is that those coins would be worth something like $1.7 Billion USD today. So, between these two raids, we would have $2.7 Billion in seized BTC. Here's the nightmare scenario: some combination of the US/Thailand/Others in the Infraud Law Enforcement Coalition decide to auction off the Infraud coins, then Bulgaria doesn't want to get beat to the punch and they decide to auction off their seized coins. All of the sudden, we are staring down the barrel of a $2.7 billion USD BTC auction season. Some will call it far-fetched and impossible. But, the timing is perfect.
The BTC market has basically just been steadily falling since the peak.The Bulgarian authorities seized their coins in May and watched the price skyrocket until December. Why sell since the market was just rising and rising. Now, they have seen the BTC market fall and fall for two months. Last week, the Bulgarians get the news that the US and the other arresting countries may suddenly have their own treasure trove of $1 billion USD in seized BTC. Now there may be two or more players in the mega cap bulk BTC sales game...plus prices are falling. The Bulgarians may just decide to unleash those coins. We already know that the US Marshals are more than happy to auction off huge amounts of coins at a whim. We also know that the press would LOVE to report on billion dollar bitcoin auctions, and that the resulting headlines could very likely affect the behavior of casual investors and newbs: “They’re going to sell a BILLION dollars of them….yeah, hard pass on buying for now.” That could be the case even if it turns out that Bulgaria has already stealthily and slowly sold off their coins.
The only remaining question is, whatever the chance may be of any of this occurring, what would the impact be on the market if some version of this DOES HAPPEN involving any substantial portion of the Infraud and/or Bulgarian coins?
tl;dr We could have a hell of a bulk BTC auction season coming up!
submitted by tap21x to BitcoinMarkets [link] [comments]

Silk Road founder/Bitcoin value

Interesting that back in 2013 when the Silk Road founder had been arrested he had over 144,000 bitcoins valued at around $197 each seized by the FBI totaling $28.5 million.. 4 years later, 144,000 bitcoins is valued at ~$2.4 Billion...
EDIT: I am assuming the FBI still has these bitcoins?... Not too sure how the seizure of property works like this
https://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/#31fe9f627655
submitted by BBlackbear to conspiracy [link] [comments]

How the current direction of B!tco!n may be bad from a libertarian point of view

Title obscured because, after the last time I spoke up against Core around here we got some strange characters appearing out of the blue to accuse me of shilling, which means they probably are using notification bots to organize their shilling/FUD activities.
Anyway, this is an interesting read:
https://www.reddit.com/btc/comments/668w6e/viabtc_why_we_dont_support_segwit/
My problem with Core and Lightning is that it is moving in a direction that will forever destroy the libertarian-purpose of bitcoin, which was permissionless, peer-to-peer payments outside the existing financial industry.
This move by Core to go with Segwit/Lightning-Network will require "payment centers" to open which will be companies controlled by people that essentially act as banks or payment processors which would be the only realistic way for ordinary people to interact with bitcoin payments.
I believe Core wants to use this to shift transaction payments away from miners and into the hands of Lightning-Network payment-processors, essentially destroying the long-term viability of mining whatsoever, and shifting those payments to the owners of those payment processors, such as Blockstream itself, which would make the Core devs into millionaires or billionaires ultimately.
This seems to be the establishment sucking bitcoin into its sphere of power through the promise of riches, yet again. Human beings running payment channels would again be subject to regulation and government pressures and seizures.
Core probably views this as a positive, as it means government would accept the existence of bitcoin and may even begin using it. They probably think this could lead to bitcoin becoming accepted by the establishment and a massive price increase.
And maybe that would even be true. But it's also possible that this could be used to kill bitcoin, regulate it out of existence, and protect the finance industry against its disruptive impact. In fact, I consider that the more likely scenario.
Either way, the libertarian uses of bitcoin will have been destroyed.
But the ability of the crypto-coin concept to do those things we want will not be able to be blocked. The genie is out of the bottle and we, who value these other uses, can begin to coalesce around other coins designed to do exactly that.
The adoption of bitcoin by the establishment would legitimize the concept, but we would face a bifurcation, of the white cryptocoin and the darkcoins, the coins the government can watch and control, and the ones it cannot. Very analogous to today's white web and dark-web, the dark one being highly encrypted and thus harder for governments to penetrate.
But the merger of a dark coin and the dark web can have some startling consequences for the world which may not be apparent currently.
The first marriage of darkweb and darkcoin was with the famous Silk Road, Ross Ulbricht's libertarian experiment in a darkweb marketplace, which was a great success in its time, but obviously not perfected.
Is there any reason to think that the next 30 years will not see these technologies greatly perfected? No, it must happen. Tor will only get better, and darkcoins such as Monero will get better as well, and the ability to do large-scale permissionless contracting and payments, which is needed for the true promise of an agoristic dark-economy to emerge, is having its foundations laid today.
Where that can lead, who can say, but I think it is a promising outcome, and not without risks as well. As a tool it can be used for good or evil, like any tool. And to avoid it being maligned as an inherently evil thing only being used by evil-doers, we should lead with it by building good uses in line with our beliefs.
Silk Road showed the folly of the drug war, perhaps we can resurrect that concept and build a few new ones in time.
submitted by Anen-o-me to GoldandBlack [link] [comments]

What are some tips for torrent site operators?

In light of the recent shutdown of KAT and Torrentz, I thought it'd be pertinent to start a collection of tips and advice for potential future operators of trackers / torrent index sites. So, asking the /trackers community, what steps would you guys take to avoid being shutdown?
Practices:
Is this a decent list? What should be added or corrected?
Resources:
Credits:
  1. cuddle-buddy - link
  2. sillycyco - link
  3. NytronX - link
  4. trackersec_throw - link
  5. pjcnet - link
  6. mildlyincoherent - link
  7. itsmecire - link
submitted by Mal_Dovah to trackers [link] [comments]

The Perfect Bitcoin Auction Storm: the $830MM in BTC Seized from Infraud and the $1.7 Billion in BTC Seized in Bulgaria

Last week Sergey Medvedev was arrested in Bangkok. This was part of a coordinated international raid that netted the arrest of 13 people across the globe associated with darkweb site "Infraud" as reported widely in the press:
https://www.washingtontimes.com/news/2018/feb/9/sergey-medvedev-russian-cybercrime-suspect-arreste/
https://www.cbsnews.com/news/us-russia-cybercrime-dark-web-market-suspect-sergey-medvedev-thailand/
Apparently, Medvedev was the administrator of the escrow service that Infraud ran to prevent members from ripping each other off in their transactions that seem to have been centered largely on stolen credit card information and devices to steal such info. (See https://krebsonsecurity.com/2018/02/u-s-arrests-13-charges-36-in-infraud-cybercrime-forum-bust/).
Since transactions were (of course) conducted using bitcoin, Thai police are reporting that they have seized 100k BTC from Medvedev (worth $830MM USD at the moment). How Thai police could have gotten his private keys is a matter that has been debated on Reddit since the arrest. While one commenter humorously suggested that skillfully applied 50 baht pliers could circumvent any digital security measures, it is obvious that many nefarious forms of "advanced interrogation" could have produced the private keys.
What isn't clear, is what will happen to those nearly $1 Billion USD in BTC. Will the Thai police keep them? Will the US Government end up with them? Will they split them? Most importantly, will they be sold off?
The US Marshal's Service obviously has a track record of selling off BTC with the most notable example being the Silk Road Auction in 2014 after the arrest of Ross Ulbricht where Tim Draper and others bought huge chunks of the seizure at auction.
Obviously, an $830 million USD BTC auction would make a lot of headlines and could have a significant impact on BTC markets regardless of what the eventual auction winners planned to do with the coins. But, a lingering question remains: What if Medvedev coins weren't the only ones seized?
The Thai police announced the BTC they seized. But, the coordinated international dragnet also involved law enforcement in the U.S., Britain, Australia, France, Italy, Kosovo, and Serbia. Chances are good that there was additional BTC seized from the other 12 individuals. Luckily, the Department of Justice's Grand Jury Indictment of those people might give us a clue how much the DOJ thought those individuals MIGHT have.
Here is the grand jury indictment of 36 people that led to that arrest. (https://www.justice.gov/opa/press-release/file/1032021/download) As the US gov't is eager to seize any and all ill-gotten gain in such arrests, the document contains a bullet list of how much money the government would like to seize from each of the indicted defendants. The forfeiture list starts on page 46.
In the case of Medvedev, and certain other ringleaders and others, the list just shows "To be calculated". This makes sense since Medvedev was apparently running Infraud's escrow service and the Feds didn't know how much Infraud BTC would be under Medvedev's control. But, for 21 of the other defendants, the indictment does list actual dollar amount. My quick back of the napkin addition is showing that these amounts add up to something like $566,047,662.74. Obviously, it's possible the arrested individuals didn't have these amounts, these amounts were not longer in BTC, the other 12 individuals actually arrested were not the ones on the list that correspond to the higher dollar amounts, or the arresting authorities were unable to recover these amounts. But, these are the amounts the DOJ would have been very happy to seize from these individuals.
But, in any case, it wouldn't be at all surprising if at least another $200 Million in BTC was seized from the other 12 arrested individuals. So, if we add this amount to Medvedev's $830 million, we could easily be talking about $1 Billion USD in BTC.
On top of this $1 Billion in Infraud BTC, we also have yet to account for the 213,519 BTC seized by Bulgarian authorities last May. (See https://www.coindesk.com/bulgarian-government-sitting-3-billion-bitcoin/) Apparently, Bulgaria has been refusing to comment on what has or will happen to those coins. But, what we do know is that those coins would be worth something like $1.7 Billion USD today.
So, between these two raids, we would have $2.7 Billion in seized BTC. Here's the nightmare scenario: some combination of the US/Thailand/Others in the Infraud Law Enforcement Coalition decide to auction off the Infraud coins, then Bulgaria doesn't want to get beat to the punch and they decide to auction off their seized coins.
All of the sudden, we are staring down the barrel of a $2.7 billion USD BTC auction season. Some will call it far-fetched and impossible. But, the timing is perfect.
The BTC market has basically just been steadily falling since the peak.The Bulgarian authorities seized their coins in May and watched the price skyrocket until December. Why sell since the market was just rising and rising. Now, they have seen the BTC market fall and fall for two months. Last week, the Bulgarians get the news that the US and the other arresting countries may suddenly have their own treasure trove of $1 billion USD in seized BTC. Now there may be two or more players in the mega cap bulk BTC sales game...plus prices are falling. The Bulgarians may just decide to unleash those coins. We already know that the US Marshals are more than happy to auction off huge amounts of coins at a whim. We also know that the press would LOVE to report on billion dollar bitcoin auctions, and that the resulting headlines could very likely affect the behavior of casual investors and newbs: “They’re going to sell a BILLION dollars of them….yeah, hard pass on buying for now.” That could be the case even if it turns out that Bulgaria has already stealthily and slowly sold off their coins.
The only remaining question is, whatever the chance may be of any of this occurring, what would the impact be on the market if some version of this DOES HAPPEN involving any substantial portion of the Infraud and/or Bulgarian coins?
tl;dr We could have a hell of a bulk BTC auction season coming up!
submitted by tap21x to btc [link] [comments]

Silk Road founder, civil forfeiture, and Bitcoins

Interesting that back in 2013 when the Silk Road founder was arrested, he had over 144,000 bitcoins valued at around $197 each seized by the FBI, totaling $28.5 million.. 4 years later, 144,000 bitcoins is valued at ~$2.8 Billion...
I am assuming the FBI still has these bitcoins?... Not too sure how the seizure of property works like this
https://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/#31fe9f627655
submitted by kkodaxeroo to Bitcoin [link] [comments]

You might need a darknet market if...

-You're one of the estimated 3.5 million people on the planet who currently suffer from cluster headaches, a pain described as worse than giving birth. Psilocybin mushrooms work to treat this condition for many people, despite access being banned to the majority of the world's population. If you want to know what cluster headaches look like, watch this video, then tell me growing mushrooms should land people in prison.
-You're one of the many people around the world who suffer treatment resistant depression. Psilocybin mushrooms have proved to be an effective solution for treatment resistant depression, working better than therapy and medicine. Over the years I tried many things, from vitamin D, to fish oil capsules, to St John's Wort and so forth. I never dared to try pharmaceutical treatments, as those are known to carry a risk of suicide when you stop or start taking them. In fact, an acquaintance of mine, an adult man with a wife and a son, died within days after his medicines were changed. Without mushrooms, in the best case scenario I would have been unemployed and living with my parents. For some people, Ketamine has proved an effective solution. One of my best friends suffers severe depression, his mother died when he was very young. Treatment proved ineffective for months, but things began to turn around after he took mushrooms.
-You suffer post-traumatic stress disorder. Clinical trials are held using MDMA as a potential treatment option. Psilocybin has been shown to extinguish fearful memories too and clinical trials are pursued. An estimated 3.5% of the American population suffers PTSD. For whatever reason, we're apparently not allowed to heal our traumas.
-You're addicted to opiates or cocaine and you want to stop. Salvia divinorum and other Kappa opioid agonists like Iboga have proved to be effective treatments for drug addiction. The Psilocybe mushroom is better at helping people quit smoking than any other treatment option that we know of. An estimated 500,000 Americans are expected to die from opioid addiction in the next ten years and more than one in three Americans are given a prescription opioid. Consider this: The pharmaceutical cartel is selling you dangerous drugs after successfully lobbying politicians to be allowed to slowly kill you and you're now forced to order the treatment secretly on the internet. You're living in Bizarro world.
-You're addicted to opiates and you don't want to drop dead from an overdose. Drugs sold on the Darknet markets are higher in quality and contain less contaminants than those sold on the street. An estimated 93% of samples tested contained only the drug that was listed in the offer. There's a simple reason for this. Dealers online don't get customers without good reviews. A single researcher who wants to save people's lives can order a drug, test its quality and judge whether or not the dealer is selling exactly what he claims to be selling. On the other hand, what do people get when they buy their opiates on the street? You get people like this filth, who purposefully lace drugs with deadly additives, in an effort to get more customers. Darknet markets save lives, even of people who order dangerous substances, simply through harm reduction. Today's drug dealers are no longer gang-bangers with pants hanging on their knees, they're pale nerdy boys with glasses.
-God forbid, your child suffers brain cancer. Cannabidiol has proved to be an effective treatment for pediatric late-stage brain cancer, but if the government finds out, they're throwing you in jail. In Japan, scientists aren't even able to study the potential medical benefits of hemp. If you happen to suffer seizures, Darknet markets may be your best hope in such a country. The same goes for social anxiety. Japan has 700,000 Hikikomori and an additional estimated 1,55 million people on the verge of becoming so. That's roughly 2% of the population. These are people too afraid to leave their homes, do you realistically expect to see them visit a doctor for their condition?
-You're a producer, who knows of the above medical benefits of the substance you are producing and you wish to help people out without dying in a haze of bullets. Darknet markets have dramatically reduced the death rate of dealers, because people no longer have to meet face to face. You can't kill your competition, if you don't know how your competition looks. You might not care much about the life of a cocaine dealer, but consider the damage to the fabric of society these deaths cause. People feel unsafe living in their neighborhoods, prisons have to be built to house the perpetrators, doctors have to treat the victims, bystanders are caught in the gunfire, a parasitic for profit prison industry is funded.
-You're a doctor, with patients who suffer a torturous existence, with an illness from which no recovery is possible. Euthanasia is inaccessible in many countries, because the drugs are simply not available to people. Producers are hesitant to sell drugs if they know they'll be used to end lives, because of the ethical implications for their employees. The Darknet market gave chronically ill people around the world the means to end their lives in a humane and dignified manner.

Conclusion

In a better world, Ross Ulbricht would get off scot-free. Ross Ulbricht paid a doctor to provide counseling to visitors to the website, enabling them to follow harm reduction advice. Keep this in mind: The Silk Road left Ross Ulbricht with a stash of money worth millions of dollars. He was done, there was no financial motive to continue the business, he could have left for another country and laundered the bitcoins. What this is, is a sacrifice for the cause of liberty. For Ross Ulbricht to rot in jail is the equivalent of Prometheus being tied to a rock, his liver eaten daily by an eagle.
Forget the iPhone, the Darknet market is the true revolution of the 21st century. This phenomenon is an explosion of liberty. If you wonder what made me so enthusiastic about Bitcoin, it's this. The 21st century became the century when man would gain complete autonomy over his mind, free to pursue whatever path he might desire, no longer incapacitated by trauma, addiction or disease. I could never begin to wrap my mind around the vast human potential that is in reach of us, if only we were not burdened with a parasitical government that seems interested solely in making us powerless, forever a shadow of what we could have been.
Those people around the world who now gain access to their substances through Darknet markets are pioneers, who place us firmly on the path towards a cultural renaissance. The day will come when nobody will ever again be burdened by mental incapacity. How much potential is squandered every day, as millions of people are too afraid to leave their rooms, burdened with traumas from which they find no relief, afflicted with pains that render any semblance of normal life inaccessible to them? How many artists met a premature self-inflicted end to their lives, how many people had dreams and visions of what life could be that were squandered, by a body or a mind that refused to cooperate? Vincent van Gogh decided to become a painter at the age of 27, I have friends who never lived to see that age.
There are billions of people around the world, who live in societies so authoritarian and repressive that even the very concept of a life worth living is kept off limits to them at all cost. In the Philippines, society sanctions the deaths of people who dare consume a range of psychoactive substances that are not explicitly approved by the government. There are teenagers whose bodies bleed out onto the streets, murdered in broad daylight because they sought a moment of mental relief from a life spent living in an overpopulated slum. In Iraq, women who do not wear veils are disfigured by sharia police. A society so dystopian could have its chains cast off by something as humble as a little mushroom with a faint blue bruise. Authoritarian thought constructs simply do not survive the mushroom, the mushroom grows as readily on the feces of cattle as it does on discarded veils, religious scripture or the corpses of would-be tyrants. All chains will be cast off during this century.

Disclaimer

I have never personally used, nor do I plan on ever using, a Darknet market. I do not endorse any such activities that may be illegal in your jurisdiction either.
submitted by sourdoughryebread to accountt1234 [link] [comments]

Can we please kill the rubber hose cryptanalysis argument already?

Every time someone mentions wallet security it seems that someone rushes in to point out that Bitcoins held in a personal wallet aren't really safe since it's so trivial to just beat them out of you.
For example recent threads that have gone this route can be found here and here. But this comes up all the time and the argument always garners upvotes despite lacking logic or evidence.
The argument in the Ross Ulbricht thread is the most interesting one. Yes, Ross gave up his bitcoin. Yes, he was under duress. People seem to miss the rather glaring fact that had the money been sitting in a bank account, the government would have seized it outright. As it was, Ross had the opportunity to use his bitcoin as bargaining leverage.
Past the example of government seizures, can anyone point to even a single example of how bitcoin were lost because someone beat the private keys out of the victim, and how that wouldn't have been possible if the money had been saved in some other form?
This argument needs to die in a fire. My bitcoin are as safe or safer (from theft or confiscation) than my stocks, bonds, physical gold, or certificates of deposit.
submitted by tsontar to Bitcoin [link] [comments]

Why Bticoin Goes Up

Every one has its own opinion but the fact which I had seen is dated at 2011 when the medium of accepting payments beside paypal was usually Libertyreserve.com at most Forums or merchants because of no charge back policy.80% Drug lord and black marketers were using LR.
In May 2013, Liberty Reserve was shut down by United States federal prosecutors under the Patriot Act after an investigation by authorities across 17 countries. The United States charged founder Arthur Budovsky and six others with money laundering and operating an unlicensed financial transaction company. Liberty Reserve is alleged to have been used to launder more than $6 billion in criminal proceeds during its history.
https://en.wikipedia.org/wiki/Liberty_Reserve#/media/File:Liberty_Reserve_seizure.png
After its Closure I had seen users ,merchants ,everyone running to find an alternate payment method so now the traffic started adopting money,Obviously, Liberty Reserve is not the only e-wallet available on the market, however most of the alternatives are regulated and comply with way stricter requirements. Moneybookers/Skrill, for example, is regulated by the FCA in the UK, and demands document verification from its users so even if the payment provider is used for illegal purposes, the involved parties can easily be tracked down. And that is not the case with Liberty Reserve.
Which is not to say that everyone who uses Liberty Reserve is a fraudster.
soon the merchant started using bitcoin and surprisingly the popularity started as there was no chargeback and completely anonymous for drugs king.
if you look at the google 5yrs trend keyword chart of bitcoin you can see exactly the date of liberty reserve closure and the rise of bitcoin in popularity and in usage.
https://trends.google.com/trends/explore?date=all&q=bitcoin
Due to bitcoin Owners addresses are not explicitly identified, The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and the media
I n October 2013, the Federal Bureau of Investigation (FBI) shut down the website and arrested Ross Ulbricht under charges of being the site's pseudonymous founder "Dread Pirate Roberts". On 6 November 2013, Silk Road 2.0 came online, run by former administrators of Silk Road. It too was shut down
submitted by surbex1 to btc [link] [comments]

MtGox summary of events, March 2013 - Feb 2014.

If anyone gives a damn about my opinion, here's what I've pieced together in this MtGox saga. The following is speculation and all info I've gathered from public sources and reddit speculation.
Early 2013 and prior, MtGox was solvent and 'above the law'.
March 2013, FinCEN issued guidance stating Bitcoin Exchanges, such as Mt Gox, who had business with customers in the US had to register as a "money services business" (MSB), lest they be subject to law enforcement.
On 15 May 2013, Mt Gox, had their US bank accounts seized for failing to register as MSB in the US.
We've learned that this seizure was ALSO due to investigations into links with Silk Road (SR). Lack of MSB license made FBI's job much easier.
Added: http://thegenesisblock.com/mt-gox-seizures-linked-silk-road-fed-testimonies/
After May 2013, it's my opinion that MtGox was running a fractional reserve exchange. Why? Because the FBI seizure included, not JUST their bank account, but also assets containing the cold storage private keys for MtGox customer's deposits (744,000+ bitcoins).
At this point, we can presume FBI was monitoring ALL MtGox internal trades, and external deposits and withdrawals. The FBI would also be receiving ALL MtGox customer verification information. Without exception. Including me (grrrr)
MtGox were likely told to continue operating normally so that the FBI had an opportunity to catch SR-related and money laundering activity. FBI issues a gag-order against Mark Karpeles/MtGox. Utter a word about this and go to jail. This in itself is the reason for recent horrible Psilence.
MtGox could continue operating because the FBI didn't confiscate the hot wallet running on the servers, since this would prevent them from operating 'as normal'.
October 2013, U.S. law enforcement officials from the FBI shut down Silk Road, following the arrest of Ross William Ulbricht, the site's alleged proprietor.
MtGox were likely told to continue operating so the FBI can continue to monitor and catch SR users, or those of SR2.0
The run up in Bitcoin price and increased deposits from October to December 2013 resulted in MtGox returning to some kind of solvency. Mark possibly saw light at the end of the tunnel.
December 2013, alleged top moderators of Silk Road 2 forums are arrested in Ireland.
Jan 2014, seeing the light at the end of the tunnel, MtGox create the 27 page business plan. http://www.scribd.com/doc/209535200/Business-Plan-MtGox-2014-2017
Jan - Feb 2014, Transaction Malleability/incompetence begin to drain MtGox hot wallet.
The hot wallet, as we have learned in the leaked 'Crisis Strategy' doc, contains around 2000 BTC by the time MtGox stop BTC withdrawals in Feb 2014.
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
Now, instead of seeing the light at the end of the tunnel, Mark sees the writing on the wall. MtGox cannot operate 'as normal' as instructed by the FBI. Mark is desperate and needs a BTC injection.
What happens next is possibly illegal and certainly immoral.
This is speculation, although it's alluded to in the Crisis Strategy doc. Mark uses the lower MtGox BTC price for arbitrage, (ie, market manipulation), buying cheap coins on MtGox and selling on other exchanges for higher price. Bringing the $ back to MtGox to buy more cheap bitcoins, rinse and repeat.
At the same time, Mark puts the feelers out for a buyer, someone, anyone to bail out or take over MtGox. Potential Buyer (dont know who) does their due diligence and starts deep investigation. They stumble across the Crisis Strategy doc and immediately notify the authorities and their colleagues in the industry (ie, dont bail out Gox, here's why, authorities notified)
EDIT added: 24 Feb 2014, several businesses issue the joint statement regarding MtGox solvency and 'tragic violation of the trust'. They likely had seen the Crisis Strategy doc before ‏@twobitidiot released it publicly.
http://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgox
end edit
Now MtGox is closed. The FBI have seized fiat dollars AND cold storage private keys containing the supposed 744,000 BTC.
Those 744,000 BTC could be argued by the FBI to be the proceeds of crime.
submitted by bitpotluck to Bitcoin [link] [comments]

The Reason why Bitcoin Got Famous

Every one has its own opinion but the fact which I had seen is dated at 2011 when the medium of accepting payments beside paypal was usually Libertyreserve.com at most Forums or merchants because of no charge back policy.80% Drug lord and black marketers were using LR.
In May 2013, Liberty Reserve was shut down by United States federal prosecutors under the Patriot Act after an investigation by authorities across 17 countries. The United States charged founder Arthur Budovsky and six others with money laundering and operating an unlicensed financial transaction company. Liberty Reserve is alleged to have been used to launder more than $6 billion in criminal proceeds during its history.
https://en.wikipedia.org/wiki/Liberty_Reserve#/media/File:Liberty_Reserve_seizure.png
After its Closure I had seen users ,merchants ,everyone running to find an alternate payment method so now the traffic started adopting money,Obviously, Liberty Reserve is not the only e-wallet available on the market, however most of the alternatives are regulated and comply with way stricter requirements. Moneybookers/Skrill, for example, is regulated by the FCA in the UK, and demands document verification from its users so even if the payment provider is used for illegal purposes, the involved parties can easily be tracked down. And that is not the case with Liberty Reserve.
Which is not to say that everyone who uses Liberty Reserve is a fraudster.
soon the merchant started using bitcoin and surprisingly the popularity started as there was no chargeback and completely anonymous for drugs king.
if you look at the google 5yrs trend keyword chart of bitcoin you can see exactly the date of liberty reserve closure and the rise of bitcoin in popularity and in usage.
https://trends.google.com/trends/explore?date=all&q=bitcoin
Due to bitcoin Owners addresses are not explicitly identified, The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and the media
I n October 2013, the Federal Bureau of Investigation (FBI) shut down the website and arrested Ross Ulbricht under charges of being the site's pseudonymous founder "Dread Pirate Roberts". On 6 November 2013, Silk Road 2.0 came online, run by former administrators of Silk Road. It too was shut down
submitted by surbex1 to Bitcoin [link] [comments]

[uncensored-r/Bitcoin] Bitcoin is fraudulent and nothing but insider Trading ...NO, Researchers find that one person lik...

The following post by Theguy3993 is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7qqmjt
The original post's content was as follows:
Yeah ok keep pumping out the articles about this so funny I would bet the articles stating bitcoin went to 1000$ on fraudulent money is 100% posted by insider traders or Wall St.. And Its no secret Wall St is driven by insider trading. Heck you can watch a documentary that shows how they do insider trading using loopholes of having a couple people down the line get the info that they "donate" money to for information. But anyways I just wanted to post another rant and laugh... Also, if you want to claim bitcoin is fraudulent based on a couple people who traded 36 million dollars worth of a coin worth 250 Billion on average give or take 50 billion or 0.000144% of bitcoin then I guess all banks should close tomorrow since 90% of all money banks handle have traces of cociane on them and clearly came from fraudulent places.
Again, I will state bitcoin will rise and fall like it always does pretty much only falling from fake news pumped in sync with sell offs to try to get more for cheap, and thats fine its so obvious to me also I have traded since before Mt.Gox and the coins never went to its peak and stayed there untill after the fall of Mt.Gox. The timeline may show that right before Mt.gox froze the price of BTC was going up. Until around that time but anyone who used MT.Gox knows that no one could move, trade or withdraw there funds long before it was froze and it finally froze from the lawsuits regarding this so essentially Mt.Gox was out of the game.
And for those who like facts here you are I will include the links also
https://en.wikipedia.org/wiki/History_of_bitcoin#2013
"On 15 May 2013, the US authorities seized accounts associated with Mt. Gox after discovering that it had not registered as a money transmitter with FinCEN in the US.[52][53]
On 17 May 2013, it was reported that BitInstant processed approximately 30 percent of the money going into and out of bitcoin, and in April alone facilitated 30,000 transactions,[54]
On 23 June 2013, it was reported that the US Drug Enforcement Administration listed 11.02 bitcoins as a seized asset in a United States Department of Justice seizure notice pursuant to 21 U.S.C. § 881.[55] It is the first time a government agency has claimed to have seized bitcoin.[56][57]
In July 2013 a project began in Kenya linking bitcoin with M-Pesa, a popular mobile payments system, in an experiment designed to spur innovative payments in Africa.[58] During the same month the Foreign Exchange Administration and Policy Department in Thailand stated that bitcoin lacks any legal framework and would therefore be illegal, which effectively banned trading on bitcoin exchanges in the country.[59][60] According to Vitalik Buterin, a writer for Bitcoin Magazine, "bitcoin's fate in Thailand may give the electronic currency more credibility in some circles", but he was concerned it didn't bode well for bitcoin in China.[61]
On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are "a currency or a form of money" (specifically securities as defined by Federal Securities Laws), and as such were subject to the court's jurisdiction,[62][63] and Germany's Finance Ministry subsumed bitcoins under the term "unit of account"—a financial instrument—though not as e-money or a functional currency, a classification nonetheless having legal and tax implications.[64]
In October 2013, the FBI seized roughly 26,000 BTC from website Silk Road during the arrest of alleged owner Ross William Ulbricht.[65][66][67] Two companies, Robocoin and Bitcoiniacs launched the world's first bitcoin ATM on 29 October 2013 in Vancouver, BC, Canada, allowing clients to sell or purchase bitcoin currency at a downtown coffee shop.[68][69][70] Chinese internet giant Baidu had allowed clients of website security services to pay with bitcoins.[71]
In November 2013, the University of Nicosia announced that it would be accepting bitcoin as payment for tuition fees, with the university's chief financial officer calling it the "gold of tomorrow".[72] During November 2013, the China-based bitcoin exchange BTC China overtook the Japan-based Mt. Gox and the Europe-based Bitstamp to become the largest bitcoin trading exchange by trade volume.[73]
In December 2013, Overstock.com[74] announced plans to accept bitcoin in the second half of 2014. On 5 December 2013, the People's Bank of China prohibited Chinese financial institutions from using bitcoins.[75] After the announcement, the value of bitcoins dropped,[76] and Baidu no longer accepted bitcoins for certain services.[77] Buying real-world goods with any virtual currency has been illegal in China since at least 2009.[78]"
In fact I was trading the Down swings around this time and remember it quite clearly and the price most deffinatly did not shoot up with any relation to Mt.Gox if anything Mt.Gox was the reason for the fall from the news and panic!
Also, WAKE UP PEOPLE. Wall St's total value is what 2.7 Trillion that took like 100 years to get. Does no one else realize the magnitude of Bitcoin to them. Bitcoin in 10 years or less including its many other Coins under it is worth 658-758Billion or 0.65-0.75T in 1/10th the time Wall St did it and its getting bigger all the time.
I've said it before and Ill say it again there scared because Bitcoin, (and altcoin), traders are used to volatility, We can loose 70% of our gains or investment in a day or an hour and still keep on truckin. But that type of volatility scared the pants off the big traders because they also have investors to explain these situations to and they have no merits to base there explanations on since nothing in the real world short of good and bad news or money in and money out of coins affects the prices very much. And for this reason Wall St will never like it and the fact its outside of there nice controlled systems they designed that benefit the rich and rape the poor. And this new system which does not allow credit, or BS is a new realm to them. Sure there might be some insider trading some of the time but the order books and live stats are available to anyone and everyone equally, unlike stocks where you need crazy memberships just to get short 15 minute delayed stats on the live markets and only the top accounts with over 50,000$ invested can even dream about getting anything better. And you have to pay 6.99-24.99 Per trade the lesser being for the 50k investor, leaving no learning curve for the small guys. So in my opinion its still a way better system and anyone can easily do some research like I have today and not panic sell from every little BS article and simple trade for yourselves. And Bitcoin to Altcoin trades BTW will cost you 0.06-0.08% and Bitcoin/Altcoin to USD (Or your Currency) will cost you 0.18-0.24% on most exchanges or platforms.
If you've read my rant this far I thank you for your time. Some article just really grind my gears :D
PS - Below is some handy trading platforms and tools
I would also like to take a moment just to say anyone interested in a FreeTrading Platform should check out Qt Bitcoin Trader from source forge. Or if your a bit more advanced there is a nice program you can try for free and the trial is the the same as the full version (I have used both since I bought it shortly after) and that is called LeonarDo by margin software a very talented German company.
Qt Bitcoin Trader - https://sourceforge.net/projects/bitcointrade Leonardo - https://marginsoftware.de/product.html
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

01-16 16:43 - 'Bitcoin is fraudulent and nothing but insider Trading ...NO, Researchers find that one person likely drove Bitcoin from $150 to $1,000 ....NO. Try more FUD' (self.Bitcoin) by /u/Theguy3993 removed from /r/Bitcoin within 564-574min

'''
Yeah ok keep pumping out the articles about this so funny I would bet the articles stating bitcoin went to 1000$ on fraudulent money is 100% posted by insider traders or Wall St.. And Its no secret Wall St is driven by insider trading. Heck you can watch a documentary that shows how they do insider trading using loopholes of having a couple people down the line get the info that they "donate" money to for information. But anyways I just wanted to post another rant and laugh... Also, if you want to claim bitcoin is fraudulent based on a couple people who traded 36 million dollars worth of a coin worth 250 Billion on average give or take 50 billion or 0.000144% of bitcoin then I guess all banks should close tomorrow since 90% of all money banks handle have traces of cociane on them and clearly came from fraudulent places.
Again, I will state bitcoin will rise and fall like it always does pretty much only falling from fake news pumped in sync with sell offs to try to get more for cheap, and thats fine its so obvious to me also I have traded since before Mt.Gox and the coins never went to its peak and stayed there untill after the fall of Mt.Gox. The timeline may show that right before Mt.gox froze the price of BTC was going up. Until around that time but anyone who used MT.Gox knows that no one could move, trade or withdraw there funds long before it was froze and it finally froze from the lawsuits regarding this so essentially Mt.Gox was out of the game.
And for those who like facts here you are I will include the links also
[link]1
"On 15 May 2013, the US authorities seized accounts associated with Mt. Gox after discovering that it had not registered as a money transmitter with FinCEN in the US.[52][53]
On 17 May 2013, it was reported that BitInstant processed approximately 30 percent of the money going into and out of bitcoin, and in April alone facilitated 30,000 transactions,[54]
On 23 June 2013, it was reported that the US Drug Enforcement Administration listed 11.02 bitcoins as a seized asset in a United States Department of Justice seizure notice pursuant to 21 U.S.C. § 881.[55] It is the first time a government agency has claimed to have seized bitcoin.[56][57]
In July 2013 a project began in Kenya linking bitcoin with M-Pesa, a popular mobile payments system, in an experiment designed to spur innovative payments in Africa.[58] During the same month the Foreign Exchange Administration and Policy Department in Thailand stated that bitcoin lacks any legal framework and would therefore be illegal, which effectively banned trading on bitcoin exchanges in the country.[59][60] According to Vitalik Buterin, a writer for Bitcoin Magazine, "bitcoin's fate in Thailand may give the electronic currency more credibility in some circles", but he was concerned it didn't bode well for bitcoin in China.[61]
On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are "a currency or a form of money" (specifically securities as defined by Federal Securities Laws), and as such were subject to the court's jurisdiction,[62][63] and Germany's Finance Ministry subsumed bitcoins under the term "unit of account"—a financial instrument—though not as e-money or a functional currency, a classification nonetheless having legal and tax implications.[64]
In October 2013, the FBI seized roughly 26,000 BTC from website Silk Road during the arrest of alleged owner Ross William Ulbricht.[65][66][67] Two companies, Robocoin and Bitcoiniacs launched the world's first bitcoin ATM on 29 October 2013 in Vancouver, BC, Canada, allowing clients to sell or purchase bitcoin currency at a downtown coffee shop.[68][69][70] Chinese internet giant Baidu had allowed clients of website security services to pay with bitcoins.[71]
In November 2013, the University of Nicosia announced that it would be accepting bitcoin as payment for tuition fees, with the university's chief financial officer calling it the "gold of tomorrow".[72] During November 2013, the China-based bitcoin exchange BTC China overtook the Japan-based Mt. Gox and the Europe-based Bitstamp to become the largest bitcoin trading exchange by trade volume.[73]
In December 2013, Overstock.com[74] announced plans to accept bitcoin in the second half of 2014. On 5 December 2013, the People's Bank of China prohibited Chinese financial institutions from using bitcoins.[75] After the announcement, the value of bitcoins dropped,[76] and Baidu no longer accepted bitcoins for certain services.[77] Buying real-world goods with any virtual currency has been illegal in China since at least 2009.[78]"
*** In fact I was trading the Down swings around this time and remember it quite clearly and the price most deffinatly did not shoot up with any relation to Mt.Gox if anything Mt.Gox was the reason for the fall from the news and panic!
Also, WAKE UP PEOPLE. Wall St's total value is what 2.7 Trillion that took like 100 years to get. Does no one else realize the magnitude of Bitcoin to them. Bitcoin in 10 years or less including its many other Coins under it is worth 658-758Billion or 0.65-0.75T in 1/10th the time Wall St did it and its getting bigger all the time.
[link]2
I've said it before and Ill say it again there scared because Bitcoin, (and altcoin), traders are used to volatility, We can loose 70% of our gains or investment in a day or an hour and still keep on truckin. But that type of volatility scared the pants off the big traders because they also have investors to explain these situations to and they have no merits to base there explanations on since nothing in the real world short of good and bad news or money in and money out of coins affects the prices very much. And for this reason Wall St will never like it and the fact its outside of there nice controlled systems they designed that benefit the rich and rape the poor. And this new system which does not allow credit, or BS is a new realm to them. Sure there might be some insider trading some of the time but the order books and live stats are available to anyone and everyone equally, unlike stocks where you need crazy memberships just to get short 15 minute delayed stats on the live markets and only the top accounts with over 50,000$ invested can even dream about getting anything better. And you have to pay 6.99-24.99 Per trade the lesser being for the 50k investor, leaving no learning curve for the small guys. So in my opinion its still a way better system and anyone can easily do some research like I have today and not panic sell from every little BS article and simple trade for yourselves. And Bitcoin to Altcoin trades BTW will cost you 0.06-0.08% and Bitcoin/Altcoin to USD (Or your Currency) will cost you 0.18-0.24% on most exchanges or platforms.
If you've read my rant this far I thank you for your time. Some article just really grind my gears :D
PS - Below is some handy trading platforms and tools
I would also like to take a moment just to say anyone interested in a FreeTrading Platform should check out Qt Bitcoin Trader from source forge. Or if your a bit more advanced there is a nice program you can try for free and the trial is the the same as the full version (I have used both since I bought it shortly after) and that is called LeonarDo by margin software a very talented German company.
Qt Bitcoin Trader - [link]3 Leonardo - [link]4
'''
Bitcoin is fraudulent and nothing but insider Trading ...NO, Researchers find that one person likely drove Bitcoin from $150 to $1,000 ....NO. Try more FUD
Go1dfish undelete link
unreddit undelete link
Author: Theguy3993
1: https://en.wikipedia.org/wiki/History_of_bitcoin#2013 2: www*w***dcoinind*x.*om/ 3: s*u*c*forge*ne*/*roje*ts/bitc*intr**e 4: ma**insof*ware.de*p**duct.ht**
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Fall of online drug bazaar Silk Road began with tip to Maryland agents

Another great report from Ian Duncan who broke the Curtis Green story here.
By Ian Duncan, The Baltimore Sun
6:41 p.m. EST, November 18, 2013
As they rushed toward a suburban Utah home with guns drawn, agents knew they were on to a significant figure in the Silk Road online drug bazaar — a major cocaine dealer, perhaps.
Message board on Silk Road — the world's most popular online drug market — had been buzzing about the sale that triggered this bust. Users of the encrypted website advertised drugs, forged documents and hacking tools for sale through seemingly anonymous transactions, but a kilo of pure Peruvian cocaine was something special.
Federal authorities in Baltimore had been working for a year to breach the inner circle of Silk Road's kingpin, whom they knew only by the alias Dread Pirate Roberts. They figured that whoever agreed to accept the drugs would get them closer, but never imagined the breakthrough they were about to make.
The man hauled from his home that winter morning was Curtis Clark Green, a senior administrator with wide access to Silk Road's inner workings. Federal officials say his capture helped lead agents to Ross William Ulbricht — the man now accused of running the site — but also brought about a violent twist in what had been a straightforward drug case.
Operation "Marco Polo," named after the medieval traveler who followed the Silk Road to China, ended last month in a major takedown, triggering arrests on three continents and the seizure of tens of millions of dollars in assets. Agents crept in to nab Ulbricht in a San Francisco public library, began draining online accounts connected to the site and slapped a notice over the Silk Road login screen.
"This hidden site has been seized," read the notice with images of shining special agent's badges below.
Ulbricht is due Thursday in federal court in Manhattan, where he is asking to be released while the case is pending. Ulbricht's lawyer has announced plans to contest that his client was Dread Pirate Roberts.
The collapse of Silk Road traces back to 2011, when it caught the attention of Homeland Security Investigations. With buyers and sellers around the globe, Silk Road seemed the perfect target for the large but little known arm of federal law enforcement with an office in Baltimore's imposing custom house.
Court documents and interviews with authorities involved in the case describe how the inquiry grew from a Harford County drug bust into a nationwide operation that drew in the FBI and the Drug Enforcement Administration.
John Eisert a senior HSI official in Baltimore, said the plan was to make moves that would "shake the trees," dislodge new details and lead agents closer to Dread Pirate Roberts.
FBI officials in New York later started working to break through the wall of encryption that protected Silk Road and many of its users from public exposure. But the agents in Maryland were tasked with developing informants, setting up drug busts and cutting deals with people in handcuffs.
The investigation started with a tip from one of HSI's informants. At that point the site was less than a year old, but already on course to develop into a hub for illicit online deals.
Silk Road ran on the Tor network, a system designed to hide the site's location and mask the identity of its users. Deals were done in Bitcoin, a digital currency not backed by any bank or government and difficult for law enforcement to trace.
Among the first breaks for HSI was the January 2012 arrest of Jacob Theodore George IV. The Edgewood man had been using Silk Road to sell heroin and imported Chinese methylone — a synthetic drug similar to ecstasy — under the alias "digitalink."
His arrest would be kept secret for two years until his guilty plea this month.
"Now we were on the inside," said an agent who requested anonymity to discuss an ongoing case. "It paved the way to go after other vendors."
Read the rest here: http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-inside-silk-road-20131118,0,7192760.story#ixzz2l2pEgUP8
submitted by dreadly1217 to SilkRoad [link] [comments]

US government misses out on $600 million payday by selling dirty bitcoins too early

This is the best tl;dr I could make, original reduced by 17%. (I'm a bot)
The U.S. Department of Justice could have made at least ten times more than the $48 million it took in from the bitcoin holdings of dark web marketplace founder Ross William Ulbricht.
The U.S. government seized 144,336 bitcoins gained from Silk Road's illegal activities that were found on Ulbricht's laptop, Joon H. Kim, the Acting United States Attorney for the Southern District of New York, announced Friday.
The marketplace founder disputed the U.S. seizure of the bitcoins until last week, when he withdrew his claim.
"These Bitcoins were ultimately sold by the United States Marshals Service pursuant to Court order for $48,238,116," Friday's release said.
That means that when the U.S. authorities sold bitcoin in the wake of the 2013 Silk Road crackdown, the average selling price was $334 each.
The U.S. Marshals don't look for investment opportunities and there was no reason for them to hold onto the bitcoins, Justice Department spokeswoman Dawn Dearden told CNBC. CNBC reported in late August that law enforcement is finding it easier to track criminal activity in bitcoin, causing some illegal activity to move into other digital currencies.
Summary Source | FAQ | Feedback | Top keywords: bitcoin#1 U.S.#2 found#3 Road#4 Silk#5
Post found in /news, /AutoNewspaper and /NBCauto.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
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Germany: The discreet lives of the super rich  DW ... BREAKING Ross Ulbricht Sentenced to Life in Prison # ... US Sheriffs Welcome $1.7 Million Windfall After Students ... Silk Road Creator Ross Ulbricht Sentenced To Life In ... TSOA Interviews - YouTube

FBI claims largest Bitcoin seizure after arrest of alleged Silk Road founder ... Digital currency loses quarter of value after arrest of Ross Ulbricht, who is accused of running online drugs ... Ross Ulbricht attorney, Paul Grant, refers to stipulation of federal government seizure as a “sad day for justice” and a “boon for the federal government’s on-going war against privacy and civil rights.” Also read: Dear Ross UlbrichtSponsored Links 48 Million USD Released to Federal Law Enforcement From Colorado, Paul Grant, criminal and civil defense attorney for ... Ross William Ulbricht (born March 27, 1984) is an American convict best known for creating and operating the darknet market website the Silk Road from 2011 until his arrest in 2013. The website was designed to use Tor for anonymity and bitcoin as a currency. Ulbricht's online pseudonym was Dread Pir Ross Ulbricht attorney, Paul Grant, refers to stipulation of federal government seizure as a “sad day for justice” and a “boon for the federal government’s on-going war against privacy and civil right Ross Ulbricht’s 144,336 Bitcoins Manhattan U.S. Attorney Announces Seizure Of Additional $28 Million Worth Of Bitcoins Belonging To Ross William Ulbricht, Alleged Owner And Operator Of “Silk Road” Website . With This, The Largest Ever Bitcoin Seizure, The Federal Government Has Now Seized Approximately 173,991 Bitcoins Worth Over $33.6 Million. Preet Bharara, the United States Attorney for the Southern District of New ...

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Germany: The discreet lives of the super rich DW ...

Skip navigation The rich in Germany been never been as well-off as they are today and assets have never been so unevenly distributed. But who are they? How do they live? And... Skip navigation Sign in Ross Ulbricht, Convicted Mastermind Behind Silk Road Website Sentenced to Life in Prison Ross Ulbricht, the hiking, yoga-loving libertarian convicted of mast... Ross Ulbricht, Convicted Mastermind Behind Silk Road Website Sentenced to Life in Prison Ross Ulbricht, the hiking, yoga-loving libertarian convicted of mast...

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