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Silk Road Bitcoins worth $1B transferred after seven years

310 pointsby bloatover 4 years ago

19 comments

lawnover 4 years ago
The title is a bit misleading as we don't know if the coins have changed hands. They probably just transferred them to a new address that they also control.
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ur-whaleover 4 years ago
txid or it didn&#x27;t happen<p>[EDIT1]: Looks like this one:<p><a href="https:&#x2F;&#x2F;blockchair.com&#x2F;bitcoin&#x2F;transaction&#x2F;3f036ff88bb851b57a1e28780dbce35a6457a8b57995c095b55b3b0cf48ba9fd?_search=homepage&amp;_type=transaction" rel="nofollow">https:&#x2F;&#x2F;blockchair.com&#x2F;bitcoin&#x2F;transaction&#x2F;3f036ff88bb851b57...</a><p>[EDIT2]: and since these coins existed pre BCH fork, it&#x27;s worth looking at the BCH coins ... TL;DR: they have moved as well: <a href="https:&#x2F;&#x2F;blockchair.com&#x2F;bitcoin-cash&#x2F;transaction&#x2F;00082718d96fd32f96482a7b1e73639fe7b91e83f5ce4361b5467e3049801fab#o=3" rel="nofollow">https:&#x2F;&#x2F;blockchair.com&#x2F;bitcoin-cash&#x2F;transaction&#x2F;00082718d96f...</a>
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Scoundrellerover 4 years ago
Given that these were worth $350k at the time 8+ years ago, my guess is on a vendor that got out of prison and was carefully planning for a day to move it around.
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mensetmanusmanover 4 years ago
Pales in comparison to money laundering with US real estate.<p><a href="https:&#x2F;&#x2F;www.theatlantic.com&#x2F;magazine&#x2F;archive&#x2F;2019&#x2F;03&#x2F;how-kleptocracy-came-to-america&#x2F;580471&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.theatlantic.com&#x2F;magazine&#x2F;archive&#x2F;2019&#x2F;03&#x2F;how-kle...</a>
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Element_over 4 years ago
If you had access to this wallet how would you actually convert that many bitcoins to hard currency anonymously?
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koreanguyover 4 years ago
they cant cash out, they had to update into new chain. they got nowhere to cash out. every exchange knows this block.<p>even if they have trillions, they cant cash it out because its so large. to many eyes. and bitcoin is not anonymous
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patriksvenssonover 4 years ago
The wallet address is: 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx<p>More information on the wallet found here: <a href="https:&#x2F;&#x2F;www.blockchain.com&#x2F;btc&#x2F;address&#x2F;1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx" rel="nofollow">https:&#x2F;&#x2F;www.blockchain.com&#x2F;btc&#x2F;address&#x2F;1HQ3Go3ggs8pFnXuHVHRy...</a>
Scoundrellerover 4 years ago
&gt; Simply guessing the private key of a bitcoin wallet is functionally impossible<p>Well, a private key is only as good as your (P)RNG.
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m1sta_over 4 years ago
Election timing?&#x2F;
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gorgoilerover 4 years ago
What happens to the price of bitcoin when you try to sell $1B worth?<p>The first few buyers might be paying the asking price, but presumably the order book has offers to buy at considerably less than today’s $&#x2F;BTC?<p>Are there any markets out there that quote the price of stocks in terms of the total (average? median?) value of currently placed orders?
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ur-whaleover 4 years ago
Update: <a href="https:&#x2F;&#x2F;www.courtlistener.com&#x2F;recap&#x2F;gov.uscourts.cand.368440&#x2F;gov.uscourts.cand.368440.1.0.pdf" rel="nofollow">https:&#x2F;&#x2F;www.courtlistener.com&#x2F;recap&#x2F;gov.uscourts.cand.368440...</a>
TuringNYCover 4 years ago
What is the significance of the <i>seven years</i> specifically? Is there a statute of limitations?
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ponkerover 4 years ago
I can’t get over the idea that the HODL gang thinks that cryptocurrency=freedom when everyone can see the global transaction log.
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ToFab123over 4 years ago
Did silkroad get replaced by other services or did that entire marked fade away when they turned off the light?
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smoyerover 4 years ago
Didn&#x27;t Ross Ulbricht claim he was no longer &quot;The Dread Pirate Roberts&quot;.
agottererover 4 years ago
Why couldn’t this be the government transferring to another wallet?
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bluedevil2kover 4 years ago
Ulbricht is paying off Trump for clemency. Sounds crazy, but anything is believable right now.
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Scoundrellerover 4 years ago
&gt; They were clearly biding their time and waiting for a busy news day in order to do this without it getting too much attention.<p>Nooooo, they were Biden their time! Good choice of day though. Who would have expected this level of chaos.
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baybal2over 4 years ago
<i>&gt; “Either way, the funds are now on the move, and whoever now controls the bitcoins may want to cash them out,” Robinson said. As for whether it was an insider or a hacker, his guess it’s as likely either way. “I’d say I’m 50&#x2F;50 right now, perhaps leaning towards a Silk Roader. They were clearly biding their time and waiting for a busy news day in order to do this without it getting too much attention.”</i><p>Busy news day... which means... today?
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