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 ✨
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.
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
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
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 👏
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. ⚖️
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
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
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
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:
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
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
By donating to you can help ensure Ross doesn't spend his life in prison 🧡 FreeRoss.org
• • •
Missing some Tweet in this thread? You can try to
force a refresh
