U.S. Feds Seized Nearly $1 Billion in Bitcoin from Wallet Linked to Silk Road
jdb10987 at yahoo.com
Thu Nov 5 14:01:34 PST 2020
Dark Markets are a great idea. But, the people who run Dark Markets need to learn from their mistakes. Even in 2013, I pointed out that Dark Markets should be protected from seizure and prosecution with an AP-type system, where a small portion of the 'profits' are retained and offerred to anybody who "predicts" the date of death of anyone who attempts to prosecute any Dark Market. Judges, prosecutors, witnesses, even jurors if that should turn out to be necessary.
And, perhaps, a rather serious reward for any jurors that participate in an acquittal or even 'hung jury'. What if $1 million was offerred, to be split between all jurors who vote to acquit, and if none of them do, $1 million was offered on the heads of those same jurors?
This news item indicates that $1 billion in bitcoin (today's value) was available in 2015. If a person is now resigned to lose it, he should have been willing to lose it in 2015, or even earlier, in order to avoid having his Dark Market taken down.
Unlike my 'traditional' proposed AP system, this kind of system wouldn't name specific names, since no names would be immediately known: It would only be known who the targets will be once the prosecution begins.
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