This is a segment of the Supply Shock Newsletter. Subscribe to read the full edition.
I subscribe to Multiverse Theory.
So, floating across our universe’s boundaries and in the endless sea of boring things in the universe is a world where Ross Ulbricht has more Bitcoin than any other person on Earth.
Unfortunately, the following happened in our shared reality:
Around this time in 2014, the US government was preparing its first Bitcoin auction through Marshall Services.
The coin was technically worth around $18 million at the time, and is roughly 20% of the average daily BTC trading volume, according to Bitconity Data. Now they’ve won $3.3 billion.
Ross was arrested eight months ago, held at MDC Brooklyn, awaiting trial, but this did not begin for another six months.
On this day 11 years ago, a former US S-s made a goof. The agency incorrectly responded to emailed questions from future buyers, revealing the names and/or email addresses of all 40 bidders on the auction list.
The US Originals auction was clearly snuff as it was intended to be anonymous.
Coindesk has identified 17 individuals (all executives, both inside and outside the code) as a result of the incident, including Barry Silbert, Fred Ehrsam and Michael Moro. A USMS spokesman apologized immediately.
Copy of the email containing the edited name and email (sauce)).
In the end, someone It wasn’t It was identified that they would earn an entire stash of coins. Draper said it will use coins as liquidity to support Vaurum, the facility’s grade Bitcoin exchange and financial services platform.
Mirror never did it from the invitation-only phase. After a series of pivots, the platform was quietly removed in late 2018.
As for the remaining coins of Ulbricht, authorities seized 144,336 BTC, which belongs personally to Ross, shortly after his arrest.
Ross initially fought to block the sale of these coins, but failed as the government made only $48 million at auction. It currently has a value of over $15 billion.
A total of 120,045 BTC was later seized from two individuals who hacked Silk Road operational wallets on separate occasions.
