Why Ross Ulbricht Is A #Bitcoin Legend
Launched the largest $BTC market at $0.50
Just turned 40, serving a 2x life sentence
A thread ✨
1/ Ross launched the Silk Road in 2011, a free #Bitcoin market where anything could be bought or sold
It's estimated 18% of drug users used the marketplace.
It accounted for 20% of all $BTC trading.
2/ By 2012, the Silk Road was so popular, it was processing $22 million in trade volume
At $12, that's 1.8 MILLION $BTC
For thousands, the Silk Road was an introduction to the power of #Bitcoin
3/ Silk Road employed 100s of people, who handled:
customer support, inventory, IT, marketing, quality control, and supply chain management
All were paid in #Bitcoin, the market's only currency
4/ Ross's motivation was ideological. It wasn't about making money.
Silk Road had its own book club, with readings on Friedrich Hayek and Ludwig von Mises 👏
5/ Ross's dream was to restore power to the people, to take it back from the state.
He saw the Silk Road and #Bitcoin as powerful vehicles for promoting liberty and free trade. ⚖️
6/ Ross believed #Bitcoin would stop the theft of inflation, and rid the world of the Federal Reserve.
7/ Ross continued to promote #Bitcoin, even when US politicians used the Silk Road as an excuse to ban it.
He saw this as an affirmation regulations were failing
8 / At the time of Ross's arrest, his personal wallet was confiscated by the government.
It held over 144,000 #Bitcoin, making Ross one of the largest holders of $BTC in history
9/ The US government auction of Ross's #Bitcoin was a huge mainstream moment.
It was seen as a milestone, the US government legitimizing the industry
10/ During Ross's trial, it was uncovered that the DEA agents investigating him stole 80,000 #Bitcoin.
Other key defense topics were banned from the trial:
11/ Today, the official platform policy of the Libertarian party calls for Ross to be pardoned and released 👏
12/ Republican VP candidate Vivek Ramaswamy has vowed to pardon Ross if elected 👏
13/ Today, Ross's market is considered by some "one of the largest contributions to harm reduction in narcotics distribution ever."
By anonymizing a violent trade, it's estimated he may have saved thousands of lives
14/ Today, the #Bitcoin community continues to fight for Ross's pardon and release.
By donating to you can help ensure Ross doesn't spend his life in prison 🧡 FreeRoss.org
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