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  • EADD Moderators: Pissed_and_messed | Shinji Ikari

Bitcoins

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if all the tor sites get taken down you would expect the coins to crash very heavily as the currency is gonna be useless. I doubt it'll be possible to prevent new tor sites or vendor sites springing up all over the place though, but the problem is that once these new sites start to build up any degree of a userbase and trust they'll probably have been discovered by the feds by that time too. The whole thing is much more dodgy now.
 
Reading an article it said SR had around 12k drug listings before it went down.. now the top 2 new sites have around 5k drug listings each, so they are sort of sharing the market, one of them is going to become the central main one though just a matter of time.

$206 - Bitcoin
 
mydrugbuddy said:
if all the tor sites get taken down you would expect the coins to crash very heavily as the currency is gonna be useless. I doubt it'll be possible to prevent new tor sites or vendor sites springing up all over the place though, but the problem is that once these new sites start to build up any degree of a userbase and trust they'll probably have been discovered by the feds by that time too. The whole thing is much more dodgy now.
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Hindsight is a great thing, but i should have found alternative methods of contact for the suppliers who had stuff i wanted, in the case of the site going down. Has the SR forum gone too ? I'll recognise the screen names of any familliar people on the new sites if they go on to use the same screennames on the new sites, but that is a risky move for them as they are gonna look cocky to the FBI, also it could be some snide cunt lifting someones user name who had a good rep, and it may not be the same person any more.

In one way i suppose its a good thing, i was getting tempted to try some chrystal meth, and opium and other rare delights that were on there. Im gradually learning self control and setting ilmits on my use, but its gonna be a while before i dive back into tor deals, if ever. Might be worth a punt for a g of speed or a few benzos or something, i cant imagine the financial or legal consequences of that being too severe.
 
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parttime crackhead said:
Why the fuck are bitcoins rising in price? Are the FBI fucking with the market so they can get the most cash possible when they eventually figure out how to cash them?
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The only way i can see them cashing them is if they start trading in them. Obviously who is gonna be daft enough to buy bitcoins off the FBI. What a fuckin shambles this is. As the coins rise, are the substances maintaining their old value or also increasing with the prices. It was very expensive to start with. But with the e-bay feedback type system that really seemed to work very well, they did seem scrupulous in trying to rid the place of scammers and keep them out.
 
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hehe id take some coins off the fbi... dont you know, money has no smell...

i mean, pass them around a couple of times and thats it not like they have it marked for life or anything.
and fo crouse i only use bitcoins to buy legal stuff. what else is there?
 
It's not like the FBI would be saying "Hi, we're the FBI, buy our bitcoins" they would just be selling bitcoins the same as anyone else. I bet most of you have no idea who you've bought bitcoins from in the past.

I've just looked up the FBI's annual budget. $8.1 billion last year. I don't think they really care about selling those bitcoins.
 
the one thing the officials do like to do with drug money is take photos of it during press releases. pile up the coke guns and dollar heaps and take pictures to get to the front pages, to keep morale and political support up for the drug war.

cant do that with bitcoins can you. hold up a pen drive saying this is worth millions!!! :-p
 
2 billion in coins is now worth well over 4 billlion $. Id say that is worth bothering with. Its more than half their annual budget. You're right about the way they might sell them though, it wont be FBIBITCOINS.COM lol, it'll just be another BC trader site. They are gonna have to infiltrate online communities to get word spread that their new site is good. Im gonna be on the look out for shills. I would imnagine they would be atleast a bit more sophisticated than that dreadfull site we all know about that is 99% full of blatant stupid unimaginative shills.
 
2b in bitcoins would be worth almost 400 billion.. i don't think they've quite got that much yet though?

They haven't cracked DPRs private wallet either have they yet?
 
mydrugbuddy said:
that was the figure being banded around when the SR was first seized; that the fbi had seized 2 billion in coins. It wasnt made clear if it was 2 billion coins, or coins worth 2 billion dollars.
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Eh? I think the maximum amount of coins that can ever be created is around 20 million, what ever that represents to in $ depends on how much It can rise to in the future... the FBI said that Silk Road had processed over $1bn in sales, not profit. And they were using the current market value of like $120 a coin, instead of taking into account bitcoins used to be around $2-5 for a large part of SR's existance.
 
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