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> They are retroactively estimating the number of bitcoins that passed through from February 2011 (when bitcoin was worth some $0.10 or something near there) bu
by mikeyouse 12y ago
> They are retroactively estimating the number of bitcoins that passed through from February 2011 (when bitcoin was worth some $0.10 or something near there) but pricing the net total over 2.5 years as of the 2013 value.
Surely the bulk of the activity came later on in Silk Road's life though right? It's not like each day had the same number of transactions.. For all we know, the FBI looked at all of the transactions into and out of SR and did a perfectly weighted average pricing query.
- hurin 12y agoYes it probably did, that's why $213 million by the prosecution sounds plausible, - but considering bitcoin did not break $100 till April 2013 and their estimate spans 2.5 years through July it 1.2 billion sounds highly implausible.
- mikeyouse 12y agoI guess I was missing the July data point, I figured they were counting up until Ulbricht was arrested in October.