The post $4.4B Silk Road sale, Satoshi’s identity — None of it ultimately matters to BCH crypto punks appeared on BitcoinEthereumNews.com.

The United States Supreme Court has denied hearing a case involving “stolen” BTC from the formerly prosperous Silk Road marketplace. The decision permits the state to sell the coins valued at around $4 billion USD, but this news and that of a ‘Satoshi reveal’ on HBO still aren’t stopping crypto OGs from ceaselessly developing P2P (peer-to-peer) use cases for bitcoin.  Right off the bat it should be noted: “Bitcoin” for the purposes of this article means the definition written down in Satoshi Nakamoto’s whitepaper. Namely, “A purely peer-to-peer version of electronic cash [that allows] online payments to be sent directly from one party to another without going through a financial institution.” A very punk rock concept, if one will. “Purely peer-to-peer” is what started this whole disruption called bitcoin that we love, and what enabled the Silk Road to grow so massively in the first place. Suffice it to say for now that massive onchain fees alienating average users, custodial second layers, and government-backed ETFs will not be considered “bitcoin” for the purposes of this article. So if bitcoin cash triggers you, please change the channel. Ross Ulbricht   Silk Road case won’t be heard, $4B stash of BTC could be sold by United States A recent ruling from the United States Supreme Court has opened up the possibility of another sale of bitcoins allegedly seized by the state from the now infamous Silk Road online marketplace. The Silk Road is back in the news these days with popular appeals for harshly imprisoned founder Ross Ulbricht to see his life returned to him, and a double life sentence plus 40 years overturned. The coins, which the state says are a lawful asset forfeiture connected to criminal activity, have been argued by claimants to be nothing of the sort, having a legitimate…

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Filed under: News - @ October 9, 2024 2:52 am