17 Oct '13, 8pm

This $17 million Bitcoin wallet may belong to alleged Silk Road mastermind Ross Ulbricht:

This $17 million Bitcoin wallet may belong to alleged Silk Road mastermind Ross Ulbricht:

When the FBI took down online drug bazaar Silk Road and seized its assets , the government became the proud new owner of over 26,000 Bitcoins, or almost $4 million that Silk Road customers had sitting in their accounts. The FBI plans to liquidate those when judicial proceedings are over, but it also hopes to seize many more Bitcoins. The FBI suspects that alleged Silk Road mastermind Ross Ulbricht, 29, who was arrested in San Francisco earlier this month, is sitting on 600,000 Bitcoins, or $80 million. I suspect that number’s overblown; that’s the total commission on the 9.5-million worth of Bitcoin sales that Silk Road has seen during its more than two years of illicit life. Surely some have been spent over the years to maintain the site and the lifestyle of its operator(s). But even if the haul isn’t that large, whoever is behind the site would have a massive amount of B...

Full article: http://www.forbes.com/sites/kashmirhill/2013/10/17/does-t...

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Bitcoin And The Silk Road | by @mikevolkov20

Bitcoin And The Silk Road | by @mikevolkov20

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