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[–]SheHadMANHands 28 points29 points  (11 children)

There aren't 600k bitcoins, and that's the point. That's just the total commission paid, in bitcoins, since early 2011. DPR would have spent a reasonable portion of this over that period of several years to maintain the site among other things. You have to also consider that for a large portion of this period, bitcoins were trading in single digits. So, if in 2011 DPR needed to cash out some BTC to pay server costs, living expenses, "employees" (who were paid pretty well) and more, he would have had to cash out much more BTC than at today's exchange rate.

Maybe he has 150-200k bitcoin still? Who knows. 600k is almost certainly an inflated figure though.

[–]davvblack 2 points3 points  (8 children)

nowhere near 600k btc

At current exchange rates. A ton of Silk road business was done in the era of <$15 coins.

[–]davvblack 0 points1 point  (6 children)

Link? I'm curious.

[–]fried_dough 2 points3 points  (1 child)

This thread has contained the best discussion on Silk Road's commissions/ phantom mystery coins I've seen to date.

Just sayin'.

[–]therein 0 points1 point  (2 children)

I read this paper before. If I remember correctly, they started monitoring sales after BTC was way above 80$.

[–]therein 1 point2 points  (0 children)

It has been a while since I read the paper. Anyway, I stand corrected.

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