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Massie Gives Ross Ulbricht Debt Badge
The Silk Road founder was honored by Massie and President Trump in a win for freedom fighters
Libertarians are having a much-deserved moment in the spotlight. Ross Ulbricht, the founder of Silk Road, was recently given the Debt Badge award from Thomas Massie.
The honor is a testament to libertarian principles championed by Ulbricht and Massie. ...
Though Ulbricht’s decision to start Silk Road was questionable, it was an experiment in free market economics that ultimately backfired. His resulting prison stay was arguably punitive considering he was a first-time offender and his convictions were for non-violent crimes.
Massie, Trump, and other freedom-lovers have questioned why Ulbricht was sentenced to two life terms with an additional 40 years without parole.
Yesterday thanks to President Donald Trump, he is now a free man. One could say that "he won the lottery." I will not go into the merits of the pardon. Let us look at the life story of this man. He was born in Austin, Texas forty years ago. He got an undergraduate degree at the University of Dallas and a postgraduate degree at the prestigious Wharton School at the University of Pennsylvania.
Ross is a very bright man. He has incredible technical skills. He is a true visionary. Had he chosen to lead an honest life, he could be a billionaire at the level of Jeff Bezos, Mark Zuckerberg, Elon Musk, etc.
Ross chose a different direction in life. Perhaps it was the librarian ideology that dominated his life. He saw the potential of The Dark Web and Bitcoin. He formed an entity he called "The Silk Road." He gave himself the pen name "The Dread Pirate Robert." He built an Amazon-like platform on The Dark Web. One could use the Tor Browser to gain access to this platform. All sorts of illegal drugs were for sale. All kinds of illicit weapons were for sale. A multitude of false identity documents were on offer. Information obtained by hacking was for sale. Other contraband was on offer. The platform generated hundreds of millions in sales. Ross earned a commission in Bitcoin worth $13,000,000 or 37,681 Bitcoins. Today these Bitcoins would be worth $376,800,000.
Success went to Ross's head. He started to broadcast challenges to the authorities. He did this while living in the San Francisco Bay area. He should have been living in a country with no extradition treaty with the US that gave him citizenship.
Massive law enforcement resources were mobilized to find this man and stop him. One low-level IRS criminal agent in New York City cracked through all his barriers and encryptions. Ross was located and arrested without incident at a branch of the San Francisco Public Library. He was extradited to New York City. A massive criminal case was launched against him. He was found guilty of many major crimes including international drug dealing. A woman judge decided to deter others from similar conduct by imposing the draconian sentence that Ross received. His platform was taken down. His $13 million fortune was confiscated.
These draconian sentences failed to deter others from setting up similar platforms on The Dark Web. I never venture into this part of the internet. It would not surprise me to hear that a tactical nuclear warhead was for sale in that segment of the web.