I was right, you were wrong. Again. Feel the burn.

Thursday, 03 October, Year 5 d.Tr. | Author: Mircea Popescu

Exhibit A, cases where Silk Road was discussed on irc :

$grep -r -i "Mircea_Popescu" ./ | grep -i "Silk Road"
./FreeNode-#bitcoin-otc.log:Mar 12 16:29:09 vragnaroda mircea_popescu: Silk Road :pi

./FreeNode-#bitcoin-assets.log:Aug 13 02:17:13 mircea_popescu Customer satisfaction on Silk Road is mostly positive, with a 97.8% positive feedback rate, although less than that on white market sites like Ebay, which boasts a positive feedback rate of 99%.ii

./FreeNode-#bitcoin-assets.log:Dec 21 16:19:46 mircea_popescu "eNumbered is the choice of Occupy, Anonymous and Silk Road users." << ahaha people are seriously retarded enough to think this is a selling point ?iii

./FreeNode-#bitcoin-assets.log:Feb 24 15:42:56 thestringpuller mircea_popescu: lemme rephrase silk road is THE top BTC business atmiv

./FreeNode-#bitcoin-assets.log:Mar 04 04:36:35 Eduard_Munteanu mircea_popescu: out of curiosity, did Silk Road ever approach you? To get listed, raise money and so forth. v

./FreeNode-#bitcoin-assets.log:Mar 26 18:26:45 mircea_popescu {smickles} i did a few times, but there wasn't ever anything worth buying <<< i kept saying it's irrelevant but NO!!! DRUGS!!! SR BIGGER THAN MPEx!!!1vi

./FreeNode-#bitcoin-assets.log:Apr 08 12:48:11 mircea_popescu i have no idea why people still reference sr when discussing bitcoin commerce.vii

./FreeNode-#bitcoin-assets.log:Aug 15 04:46:30 thestringpuller mircea_popescu: I know you hate on Silk Road, but the revenue estimate is some $540 million a year...viii

Exhibit B, What are the Bitcoin market drivers ?, a 2012 article showing SR at about 12%.

Exhibit C, a summary of yesterday's conversation concerning the post-SR closure flash crash. With illustrations :

sr-flash-in-pan

The popescution rests.

PS, if you're curious : the BTC figures advanced by lolz department are well inflated, as is customary whenever a DA opens his mouth (they're all ex lawyers and future politicians, so you might imagine). The fact is that SR controlled ~30k BTC wallets at shutdown. This ("based on my training and experience" herp) is consistent with a turnover of about 1 mn a year back in 2012 (as correctly estimated in Exhibit B), dropping to about 100k a year after the March explosion. The total gross take of DPR is in the 30 to 50k BTC range, of which he spent during this time about 25 to 35k BTC (about half of which in any way conceivable as business expenses), at an average value of about 7 to 25 dollars per (so 175 to 875k dollars) and still owns between 15 and 25k BTC out of the confiscated stash (comes to a coupla million today).

The sad moral here being that Pirate, much more of an asshole, much less exposed to heavy charges (hey, fraud is one thing, conspiracy to distribute drugs, launder money and kill people is another thing) probably made more Bitcoin. Sucks how that works out huh.

———
  1. Mar 12 16:26:15 mircea_popescu sr = ?
    Mar 12 16:28:27 vragnaroda mircea_popescu: milktoads
    Mar 12 16:28:47 mircea_popescu omg stop confusing esl users!
    Mar 12 16:29:07 bruzum mircea_popescu: http://en.wikipedia.org/wiki/Silkroad_Online
    Mar 12 16:29:09 vragnaroda mircea_popescu: Silk Road :p
    Mar 12 16:29:18 mircea_popescu o o o i c.
    Mar 12 16:29:27 mircea_popescu im not doing enough drugs to be hip []
  2. Aug 13 02:17:13 mircea_popescu Customer satisfaction on Silk Road is mostly positive, with a 97.8% positive feedback rate, although less than that on white market sites like Ebay, which boasts a positive feedback rate of 99%.
    Aug 13 02:17:17 mircea_popescu very comparable items.
    Aug 13 02:18:21 assbot [GLBSE] [GIGAMINING] 3 @ 1.14 = 3.42 BTC [+]
    Aug 13 02:18:50 Ignatius-otc Many ebay sellers manipulate their fb as if they drop below a certain % they could have their accounts temporarily denied selling rights. By having multiple accounts sellers can control their fb %.
    Aug 13 02:19:31 mircea_popescu obviously.
    Aug 13 02:19:39 mircea_popescu the metric is entirely fake. []
  3. Dec 21 16:15:34 * Ukto renames mircea_popescu to Miracea
    Dec 21 16:15:39 Ukto Can be your sister
    Dec 21 16:15:53 mircea_popescu i was perturbed enough a year or so ago when i found out who mircea monroe is
    Dec 21 16:16:42 Ukto shres pretty hot
    Dec 21 16:16:48 mircea_popescu yeah.
    Dec 21 16:17:02 jurov yes. wait when usagi finds out
    Dec 21 16:17:03 assbot [MPEX] [S.MPOE] 9950 @ 0.00062 = 6.169 BTC [+]
    Dec 21 16:17:11 mircea_popescu o boy.
    Dec 21 16:17:12 Ukto you should use her imdb pic as your profile pic. REALLY confuse ppl. http://www.imdb.com/name/nm1597260/
    Dec 21 16:17:40 mircea_popescu http://trilema.com/2010/mircea-mircea-monroe/ i think those are better
    Dec 21 16:17:43 mircea_popescu but yea, i'd do her.
    Dec 21 16:17:52 mircea_popescu and we could have babies and name them all mircea mircea
    Dec 21 16:18:05 mircea_popescu the girls could be mircea mircea after their mother
    Dec 21 16:18:09 mircea_popescu and the boys mircea mircea after me
    Dec 21 16:19:02 jurov so you'll change last name to mircea too?
    Dec 21 16:19:31 mircea_popescu what last names. they're going out of fashion.
    Dec 21 16:19:46 mircea_popescu "eNumbered is the choice of Occupy, Anonymous and Silk Road users." << ahaha people are seriously retarded enough to think this is a selling point ?
    Dec 21 16:19:54 mircea_popescu "use the same currency poor people use!!!"
    Dec 21 16:20:16 mircea_popescu 100% backed by gold, 1.25% monthly guaranteed.
    Dec 21 16:20:29 mircea_popescu apparently they've taken egold and added some ponzi to the mix.
    Dec 21 16:22:28 markedathome that sounds vaguely solidcoin2.0ish - does it have account depreciation built in as well?
    Dec 21 16:23:03 mircea_popescu not yet. possibly once they find the solidcoin forums
    Dec 21 16:23:42 * Ukto only appreciates a few ppl. Generally I depreciate people. []
  4. Feb 24 15:42:56 thestringpuller mircea_popescu: lemme rephrase silk road is THE top BTC business atm
    Feb 24 15:43:10 Ukto thestringpuller: really? last I saw it was mostly dead.
    Feb 24 15:43:29 mircea_popescu thestringpuller bs.
    Feb 24 15:43:32 Ukto although someone told me that there has been alot more guns and ammo lately
    Feb 24 15:43:34 Ukto with all the bs going on
    Feb 24 15:43:38 mircea_popescu you're working on maybe 2011 data. or 2010. []
  5. Mar 04 04:34:24 error4733 haha mp you made my day ! https://bitcointalk.org/index.php?topic=124441.msg1517002#msg1517002
    Mar 04 04:34:49 mircea_popescu Eduard_Munteanu also, re the rules etc, http://trilema.com/2012/the-mpex-rota/ http://trilema.com/2013/rota-post-mortem/
    Mar 04 04:35:05 mircea_popescu error4733 lol
    Mar 04 04:35:34 mircea_popescu if at least he had the guts to post something like "Same"
    Mar 04 04:35:40 mircea_popescu that'd have earned him some respect
    Mar 04 04:35:44 mircea_popescu but... weasels everywhere.
    Mar 04 04:35:56 dub midnightmagic: my memory of it is different, I don't think we were discussing a specific place, only the existence of such places
    Mar 04 04:36:01 mircea_popescu sometimes i suspect there's like five balls in three ballsacks available in the entire continental us.
    Mar 04 04:36:35 Eduard_Munteanu mircea_popescu: out of curiosity, did Silk Road ever approach you? To get listed, raise money and so forth.
    Mar 04 04:36:58 mircea_popescu i've not made a comment on the topic so far.
    Mar 04 04:37:15 Eduard_Munteanu I see. []
  6. Mar 26 18:26:45 mircea_popescu i did a few times, but there wasn't ever anything worth buying <<< i kept saying it's irrelevant but NO!!! DRUGS!!! SR BIGGER THAN MPEx!!!1
    Mar 26 18:27:07 Diablo-D3 KRS1: Im expecting it to go up, actually
    Mar 26 18:27:48 KRS1 that would be nice...im trying to buy more, but on a dip at some point
    Mar 26 18:28:09 smickles mircea_popescu: remember when sr was down for 2 weeks, and it had no impact on bitcoin?
    Mar 26 18:28:19 mircea_popescu yes.
    Mar 26 18:28:25 mircea_popescu one of the reasons i was saying that. []
  7. Apr 08 12:47:06 bgupta guesin SR is becoming a smaller and smaller portion of market
    Apr 08 12:47:07 ThickAsThieves just wait 10min
    Apr 08 12:47:13 troc the $5M (bitpay) is not all that exciting, walletbit what are they turning over ?
    Apr 08 12:47:32 MJR_ the $5 million from bitpay is exciting to me somewhat
    Apr 08 12:47:34 ThickAsThieves SR is also higher and higher risk to use
    Apr 08 12:47:51 * micky_ has quit (Ping timeout: 276 seconds)
    Apr 08 12:48:00 MJR_ we will need services like that until bitcoin gets big enough to basically float its own supply chain
    Apr 08 12:48:06 ThickAsThieves ;;bids 177
    Apr 08 12:48:08 troc in the context of a '2 billion' market cap ?
    Apr 08 12:48:08 gribble There are currently 1773.1748 bitcoins demanded at or over 177.0 USD, worth 319289.445178 USD in total. | Data vintage: 0.0053 seconds
    Apr 08 12:48:11 mircea_popescu i have no idea why people still reference sr when discussing bitcoin commerce.
    Apr 08 12:48:15 ThickAsThieves ;;bids 170
    Apr 08 12:48:15 gribble There are currently 3867.5297 bitcoins demanded at or over 170.0 USD, worth 680880.802151 USD in total. | Data vintage: 7.4171 seconds
    Apr 08 12:48:20 mircea_popescu seriously : it's a vanishinghly small irrelevant %. []
  8. Aug 15 04:41:27 thestringpuller lol China
    Aug 15 04:41:32 thestringpuller and their great firewall
    Aug 15 04:41:40 thestringpuller moar proxies plz
    Aug 15 04:41:56 dub anyway, the idea that they might know how to make mining their own transactions work is tenuous
    Aug 15 04:42:25 assbot [BTCTC] [TAT.ASICMINER] 12 @ 0.03999 = 0.4799 BTC [+]
    Aug 15 04:43:05 assbot [BTCTC] [TAT.ASICMINER] 1 @ 0.03999 BTC [+]
    Aug 15 04:43:27 assbot [BTCTC] [TAT.ASICMINER] 3 @ 0.03999 = 0.12 BTC [+]
    Aug 15 04:44:25 mircea_popescu at this point they could just hire garzik for a croissant. he'd do it just to be involved.
    Aug 15 04:45:04 assbot [BTCTC] [DMS.PURCHASE] 100 @ 0.02079 = 2.079 BTC [+]
    Aug 15 04:45:25 assbot [BTCTC] [TAT.ASICMINER] 1 @ 0.03999 BTC [+]
    Aug 15 04:46:30 thestringpuller mircea_popescu: I know you hate on Silk Road, but the revenue estimate is some $540 million a year...
    Aug 15 04:46:35 assbot [BTCTC] [BASIC-MINING] 7 @ 0.301 = 2.107 BTC [+]
    Aug 15 04:46:40 dub fuck me, the comments on that labcoin article alone are proof of te scam
    Aug 15 04:46:59 assbot [BTCTC] [BASIC-MINING] 3 @ 0.3 = 0.9 BTC [-]
    Aug 15 04:47:15 dub its like the swede guy hired ciuciu to drive his sock army
    Aug 15 04:47:18 mircea_popescu thestringpuller why do i hate it ?
    Aug 15 04:47:30 mircea_popescu dub tell me about it.
    Aug 15 04:47:56 dub 'iron manolescu' is pretty cool though
    Aug 15 04:48:25 thestringpuller you always bash Dead Pirate Roberts when he talks publicly as being "irrelevant to bitcoin"
    Aug 15 04:48:57 assbot [BTCTC] [DMS.SELLING] 200 @ 0.0181 = 3.62 BTC [-]
    Aug 15 04:49:00 assbot [BTCTC] [DMS.SELLING] 200 @ 0.0181 = 3.62 BTC [-]
    Aug 15 04:49:07 mircea_popescu thestringpuller bitcoin went up 10x and the usg started making moves since then.
    Aug 15 04:49:49 assbot [BTCTC] [LTC-ATF.B2] 2 @ 0.01043 = 0.0209 BTC [+]
    Aug 15 04:50:31 thestringpuller mircea_popescu but what does that have to do with DPR?
    Aug 15 04:50:50 ThickAsThieves thsts the point
    Aug 15 04:51:12 assbot [BTCTC] [TAT.ASICMINER] 1 @ 0.03993 BTC [-]
    Aug 15 04:51:47 mircea_popescu thestringpuller the lists just change. there's worse problems for bitcoin atm than a bunch of stoners
    Aug 15 04:52:26 assbot [BTCTC] [TAT.ASICMINER] 2 @ 0.03999 = 0.08 BTC [+]
    Aug 15 04:52:31 thestringpuller I would say DPR stands for similar freedoms you mention. Particularly accessibility to a free market.
    Aug 15 04:53:00 mircea_popescu this wasn't much of an issue six months ago. it's becoming a huge issue quite rapidly,
    Aug 15 04:53:08 assbot [BTCTC] [TAT.ASICMINER] 24 @ 0.03999 = 0.9598 BTC [+]
    Aug 15 04:53:13 mircea_popescu at about the approximate rate at which the various rotten reeds "involved" in bitcoin snap all around.
    Aug 15 04:53:16 assbot [BTCTC] [ACTIVEMINING] 2 @ 0.005329 = 0.0107 BTC [-]
    Aug 15 04:53:48 assbot [BTCTC] [LABCOIN] 235 @ 0.001654 = 0.3887 BTC [-]
    Aug 15 04:54:37 thestringpuller in regards to govt. attempting to meddle?
    Aug 15 04:54:48 thestringpuller or some other entity you are referring to?
    Aug 15 04:54:55 assbot [BTCTC] [TAT.ASICMINER] 2 @ 0.0402 = 0.0804 BTC [+]
    Aug 15 04:54:59 ThickAsThieves you lost me too
    Aug 15 04:55:05 mircea_popescu there's the idiotic scammers eating from one end and the idiotic bureaucrats eating from the other.
    Aug 15 04:55:36 mircea_popescu in this circumstance i couldn't care less what the pill people do.
    Aug 15 04:57:39 assbot [BTCTC] [ASICMINER-PT] 1 @ 3.998 BTC [+]
    Aug 15 04:58:09 assbot [BTCTC] [TAT.ASICMINER] 1 @ 0.04 BTC [-]
    Aug 15 04:58:31 thestringpuller because the "pill people" don't affect as much as the aforementioned?
    Aug 15 05:02:03 mircea_popescu yea []
Category: Bitcoin
Comments feed : RSS 2.0. Leave your own comment below, or send a trackback.

One Response

  1. [...] I was right, you were wrong. Again. Feel the burn. [...]

Add your cents! »
    If this is your first comment, it will wait to be approved. This usually takes a few hours. Subsequent comments are not delayed.