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Most likely they are using the current value of BTC against the cumulative proceeds which vastly overstates revenue unless all funds were kept in BTC.
by jonknee 13y ago
Most likely they are using the current value of BTC against the cumulative proceeds which vastly overstates revenue unless all funds were kept in BTC.
- anfedorov 13y agoThe article refers to a "26k BTC fortune", which was confiscated, while the complaint against Ross said the total SR commissions were 614,305 BTC (https://en.wikipedia.org/wiki/Silk_Road_(marketplace)#Site_statistics https://en.wikipedia.org/wiki/Silk_Road_(marketplace)#Site_s...).
- jonknee 13y agoExactly. That severely overstates the revenue taken in as SR was in business for quite some time before BTC was worth much. SR started in early 2011 when 1 BTC was worth less than $1. Hosting alone would have taken many tens of thousands of dollars a month a today's exchange rates.