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Started By
Message
So what happens to Bitcoin now?
Posted on 10/2/13 at 11:00 am
Posted on 10/2/13 at 11:00 am
5
Posted on 10/2/13 at 11:06 am to Broke
Curious to see what the Wikster and joshua have to say about this.
Posted on 10/2/13 at 11:13 am to Broke
quote:
Do we see a massive crash?
We'll see a small crash.
Word on the street:
quote:
It looks like they sniffed him out by looking back at old Internet records (forum posts, IPs etc) from around the time of SRs appearance. The first person to ever advertise SR was DPR himself, and he used an email account attached to his natural born identity. No NSA or technical hack.
Some other site will replace it to fill the vacuum soon.
Posted on 10/2/13 at 11:14 am to WikiTiger
quote:
Some other site will replace it to fill the vacuum soon.
So it's not as elaborate as it seems to set up?
Posted on 10/2/13 at 11:15 am to Broke
quote:
So it's not as elaborate as it seems to set up?
God no.
The technical side of it is easy.
The hard part is attracting buyers and sellers.
Posted on 10/2/13 at 11:18 am to Broke
quote:
So it's not as elaborate as it seems to set up?
Also, I wouldn't be surprised if DPR had already prepared for this by providing the source code and database to potential "heirs."
That is what the whole concept of "DPR" represents. It comes from "The Princess Bride."
Dread Pirate Roberts: It is revealed during the course of the story that Roberts is not one man, but a series of individuals who periodically pass the name and reputation to a chosen successor. Everyone except the successor and the former Roberts is then released at a convenient port, and a new crew is hired.
Posted on 10/2/13 at 11:18 am to Broke
Now in going to lose everything
:omg:
:omg:
Posted on 10/2/13 at 11:34 am to WikiTiger
The problem seems to be getting customers to a new site and having them trust that site. Which could take years.
Posted on 10/2/13 at 11:36 am to WikiTiger
quote:
It looks like they sniffed him out by looking back at old Internet records (forum posts, IPs etc) from around the time of SRs appearance. The first person to ever advertise SR was DPR himself, and he used an email account attached to his natural born identity. No NSA or technical hack
If this is true, I'm a little disappointed it took the feds this long.
Posted on 10/2/13 at 11:37 am to boosiebadazz
quote:
If this is true, I'm a little disappointed it took the feds this long.
now it looks like more stuff is coming out on other issues, like a hit he tried to put out, and fake ID's he ordered that may have also contributed to his arrest
Posted on 10/2/13 at 11:39 am to WikiTiger
This dude is a straight up gangsta. Props. 
Posted on 10/2/13 at 11:50 am to Broke
quote:
This dude is a straight up gangsta
he's so white
Posted on 10/2/13 at 11:55 am to WikiTiger
used his real email addy with his full name in it when starting up the site. just pure genius
Posted on 10/2/13 at 12:35 pm to Broke
quote:
one of his public YouTube videos appears to include his phone number.
Posted on 10/2/13 at 12:40 pm to southernelite
quote:Don't tell me it was all a lie?!?
Authorities also seized $3.6 million worth of digital currency Bitcoin
I thought it wasn't possible for this to happen?
Posted on 10/2/13 at 12:50 pm to LSURussian
I know you're shocked, sir, but it seems so.
Posted on 10/2/13 at 12:53 pm to WikiTiger
quote:
WikiTiger
This is why I don't buy the theory that you can just technology your way out of any problem. Technology won't change the fact that, inevitably, people frick up.
Posted on 10/2/13 at 12:55 pm to southernelite
quote:
I thought it wasn't possible for this to happen?
A government gaining physical access to unencrypted private keys that aren't backed up would make those bitcoins vulnerable to seizure.
the coins seized were likely the sites escrow coins, which were probably able to be seized along with the physical servers.
any properly protected bitcoins can not be seized.
for instance, why aren't they reporting that all of DPR's wealth has been seized? he supposed made almost $80 million on the site. so why haven't they seized whatever he has left of that?
Posted on 10/2/13 at 12:58 pm to WikiTiger
quote:Probably because he converted most of it to usable currency and has it hidden away in cash somewhere. Or in an offshore bank account.
why haven't they seized whatever he has left of that?
You know, those things you said bitcoin was superior to...
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