The total commission of the original SR would be worth $11,416,605,237.40 today

Week 4 - Day 1 - 02/02/2015 - FBI contractor Brian Shaw examination and cross-examination. Three defense witnesses examination and cross examinationThe court heard of the end of the murder for hire story and factual data analysed from the servers seizure by Brian Shaw. Silk Road it is 1.53 million transactions, 3,748 seller accounts, 115,391 buyer accounts, total revenue of 9,912,070 bitcoins, 642,455 bitcoins worth of commission.

(antilop)


Comments


[77 Points] cashpool00:

Jesus Christ. That's roughly 3.8% of the entire circulating supply of Bitcoin


[25 Points] HappyNomads:

It's fun to think about the 12 and change BTC I lost when silk road 1 went down. I would have had over $200,000 at this point.


[11 Points] RedditAccount28:

How would you even launder that? You would clearly gain a bunch of attention because your worth over 10b and as a result would probably get caught... truth is you could never even get to use all that money most likely


[5 Points] ChewySpell:

Holy shit. This is wild.


[3 Points] I_Hate_Rerock:

it doesn't work that way. There is this little monetary feature called inflation. While Bitcoin is a deflationary currency, it's store of value is inflating as it tries to seek its equilibrium value. A gram of coke in 2015 cost 0.5 bitcoins. That same gram today is 0.005 bitcoins. Hence, the commissions and revenue in Bitcoin would decrease proportionately in 2017.

What your post reveals, which i find very informative and interesting is the impact of SR on bitcoin's day to day use. I always expected SR to be like porn and the VCR market. If it wasn't for porn, VCR's would have been a niche market.

I didn't realize what % of Bitcoin is tied to SR. This says SR=Bitcoin. Meaning Bitcoin can not fall to zero as the DNM's are a price floor. On the surface 75% of Bitcoins float went through SR. But if we subtract the 4 million lost bitcoins, 110% of bitcoins went through the market. This does not take into account the hodler mentality or the reoccuring purchases with Bitcoin. I suspect each Bitcoin went through the market at least 4 times..

Now the $64,000 question is, what would the floor price of Bitcoin be in 2018 if BTC's main use was as a currency for the DNM and it's store of value decreased because the crypto bubble popped?

I posted this earlier but when i went to look for it, it didn't exist. some of these forum boards are touchy.


[2 Points] GirlsDontLikeIce:

You gotta convert it to cash or be able to use it to buy things like cars, houses, etc.

Until that becomes easy. Everyone else is just like me sitting on a ton of money they can't use for nothing other than buying drugs or trading for other crypto. I don't know how i'm going to handle the crash. I am already kinda suicidal and depressed.


[0 Points] KeepMeAFewDollars:

Lol