Author Topic: $1B of Bitcoin from Silk Road wallet moves for first time since 2015  (Read 359 times)

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Online ketosis

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According to a Nov. 3 report from crypto intelligence firm CipherTrace, the recent movement involving two transactions adding up to 69,370 Bitcoin (BTC) — or more than $960 million at the time of publication — originated from an address connected with the Silk Road marketplace shut down in 2013. The crypto user first sent 1 BTC — likely as a test transaction — before moving the bulk of the coins.


https://cointelegraph.com/news/1b-of-bitcoin-from-silk-road-wallet-moves-for-first-time-since-2015

I'm pretty into this stuff and I can vouche for cointelegraph.  I mean, there's BS and FUD everywhere, but it's one of the biggest news sources and they don't skew stories or have an agenda.

This little site here, and you guys are kinda special to me.  So i'll say:  if you're not up to date, stayign up to the minute up to date on bitcoin and similar TODAY, you're gonna think of me and imagine the "I told ya so" dance=P

BUt yeah, that couldn't be Ross Ulbricht's wallet.  It must have been a major vendor.  Damn that's some money.  I guess  most of it is appreciation since 2013

Offline nzniceguy

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #1 on: November 05, 2020, 04:48:53 AM »
Quote "This little site here, and you guys are kinda special to me.  So i'll say:  if you're not up to date, stayign up to the minute up to date on bitcoin and similar TODAY, you're gonna think of me and imagine the "I told ya so" dance=P"

What do you mean? It would pay to invest in bitcoin right now? Or something else?

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #2 on: November 05, 2020, 05:40:21 AM »
That:  Very Very likely
what I mean: Much Much more than just financial gain via trading a commodity/currency.
The news says it all

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #3 on: November 05, 2020, 05:43:45 AM »
Narrow a simple value vs. your countries currency chart starting from October 5th until now.
Had you asked me on October 5th, I probably would have said something similar

« Last Edit: November 05, 2020, 05:45:21 AM by ketosis »

Offline hamsterbob

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #4 on: November 05, 2020, 08:45:58 AM »
I wonder how that works? to my knowledge there was a massive sale of all the vendor coins at one stage.
How can you move your coins out of a seized wallet?

Offline hamsterbob

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #5 on: November 05, 2020, 08:49:54 AM »
Quote "This little site here, and you guys are kinda special to me.  So i'll say:  if you're not up to date, stayign up to the minute up to date on bitcoin and similar TODAY, you're gonna think of me and imagine the "I told ya so" dance=P"

What do you mean? It would pay to invest in bitcoin right now? Or something else?

whatevers Ive been following coins since I the early 2000's my first purchase was some dogecoin for this anonymous satellite calls :P
I was a weird kid...

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #6 on: November 05, 2020, 10:50:35 AM »
haha, you think you can safely bring up dogecoins without me pointing out(with reverence) that sure, although they are by definiton incapable of gaining value, they are also governed by Chaos Magick practitioners=D

Well no one KNOWS how it works, but I'm in fundamental analysis.  for the last 3 - 4 years, its clear that so-called 'Whale Manipulation" has been occurring for the purpose of making it as difficult as possible to use fundamental analysis to predict shifts in value.  Before that, by hanging out with crypto investors, darknet underworld(the two seem to be unaware of each other), and a touch of common sense, I was able to correlate significant shifts in it's value to events in the news

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #7 on: November 05, 2020, 10:53:51 AM »
I wonder how that works? to my knowledge there was a massive sale of all the vendor coins at one stage.
How can you move your coins out of a seized wallet?

You can't. That's why we know that the wallet this article refers to was not that of Ross Ulbricht who is serving 2 life sentences, and the coins the siezed and auctioned off from him were a drop in the pale compared to this.

With bitcoin there's a public ledger.  So with a decent sense of InfoSec anonymity and security, it doesn't matter that the whole world is watching what you do with your wallet or transactions.  There's still no way to know who is doing it

Offline CHEMICALCOWBOY36

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #8 on: November 05, 2020, 11:11:41 AM »
I wonder how that works? to my knowledge there was a massive sale of all the vendor coins at one stage.
How can you move your coins out of a seized wallet?

You can't. That's why we know that the wallet this article refers to was not that of Ross Ulbricht who is serving 2 life sentences, and the coins the siezed and auctioned off from him were a drop in the pale compared to this.

With bitcoin there's a public ledger.  So with a decent sense of InfoSec anonymity and security, it doesn't matter that the whole world is watching what you do with your wallet or transactions.  There's still no way to know who is doing it

care to elaborate on tradecraft security?
In this, you must never lapse. Even those who would be our allies would not understand. Our domain is the shadow. Stray from it reluctantly, for when you do, you must strike hard ,fast and fade away... Without a trace.

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #9 on: November 05, 2020, 11:30:14 AM »

care to elaborate on tradecraft security?

Well, if you mean in regards to just having and moving a lot of bitcoin, that question purely by itself:
Hardware wallets - it's like a digital safe
custodial wallets - Electrum is the accepted standard, since it's opensource, on GitHub, etc.  So it's not actually possible to hide any code.  In this case it's just a software wallet.  There will be a 'seed', a private key, but all that can be accessed if you remember your password.

One nifty thing, is if you're in a TOR environment, I GUESS you could do it in Windows but I don't see much of a point in attempting to be secure if youre just gonna run Windows.  But especially in linux or the versions of linux designed for anonymity, you can set the TOR network, port 9050 or 9150 for ALL network traffic in your computer's environment.  And then just turn a setting on in electrum, and the little circle goes from blue to green.  This means that you are now not only anonymous thanks to bitcoin, but everything you're doing with it is going through a SOCKS5 TOR based proxie(no 'VPN' on earth can do this), and this is free.

But really forget everything I just said and don't use Bitcoin, use monero.

This is a pretty good resource:
https://darknetlive.com/dnmbible.pdf

Offline hamsterbob

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #10 on: November 05, 2020, 11:30:55 PM »
haha, you think you can safely bring up dogecoins without me pointing out(with reverence) that sure, although they are by definiton incapable of gaining value, they are also governed by Chaos Magick practitioners=D


Lol I think they the same price from like nearly 9 years ago. funny thing was it some military's unit op selling some data to some kid lololol

Offline hamsterbob

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #11 on: November 05, 2020, 11:33:17 PM »

But really forget everything I just said and don't use Bitcoin, use monero.

+ 1 million karma

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #12 on: November 06, 2020, 01:03:29 AM »

But really forget everything I just said and don't use Bitcoin, use monero.

+ 1 million karma


Thanks.  Karma on this board is like normal karm , then roll a set of dice, then go rocks paper sissors with yourself and either subtract or add it.
"implied karma"?


hah ok, about dogecoin.  IIRC, every other crypto has a built in enforced inflation cutoff.  Thereby mimicking gold.  The law in micro economics goes something like worth = intrinsic value * scarcity, or something to that effect.  But dogegoin can be inflated not just by a government when it inflates its own currency to pay off a debt, but by ANYONE that has any hahaha.   it's like a parody of money
But the best part is the most serious wall street-gone-crypto traders missed out on that part of the story, and they scratch their heads when "and now lets talk dogegoin"  lulz....too funny

Offline Corrosive Joeseph

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #13 on: November 06, 2020, 05:47:33 PM »
US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture -
https://www.coindesk.com/u-s-seized-more-than-1b-in-silk-road-linked-bitcoin-seeks-forfeiture-bloomberg



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Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #14 on: November 06, 2020, 08:47:05 PM »
US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture -
https://www.coindesk.com/u-s-seized-more-than-1b-in-silk-road-linked-bitcoin-seeks-forfeiture-bloomberg



/CJ

oh Christ, see what I mean about FUD?
Gentle reminder: I vouched for cointelegraph.co.uk.  End of statement.
« Last Edit: November 06, 2020, 08:51:23 PM by ketosis »

Online ketosis

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Re: $1B of Bitcoin from Silk Road wallet moves for first time since 2015
« Reply #15 on: November 06, 2020, 08:55:42 PM »
US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture -
https://www.coindesk.com/u-s-seized-more-than-1b-in-silk-road-linked-bitcoin-seeks-forfeiture-bloomberg



/CJ

LOL just read the equivalent article.  Yes the differences are not in the facts, but in the angle with which the are reported.  At times like this the slightest change in angle equates to massive amounts of money

oh Christ, see what I mean about FUD?
Gentle reminder: I vouched for cointelegraph.co.uk.  End of statement.