Will Silk Road kill Bitcoin for good? [infographic]
Posted by staff / April 29, 2013 black market activitiesdigital currencySilk Road
While you may have heard of the digital currency Bitcoin, what you may or may not know is how its being used to buy contraband on a site called Silk Road.
If governments decide to take action against Silk Road’s black market activities, can Bitcoin survive?
Governments can’t take action against the silk road (it would already be down if they could). Please see: https://www.torproject.org/docs/hidden-services.html.en.
This infographic needs to be updated asap. Current price is $140 USD per Bitcoin.
BTW, they’re already several Silk Road competitors in the Deep Web. From what I heard, about a dozen or so. I wouldn’t be surprised that number reaches 100s in the next 3 years. Bitcoin and SR style marketplaces will put banks and corner drug dealers out of business very soon.
http://bitcoindomainsforsale.blogspot.com
Apparently, the drug war is so effective that no one will ever find a way to get around it. .. oh wait.. lol Well, in that case, maybe we should think about bringing all of this above board and using it to benefit our tax base. How much longer before adults have the civil right to decide what to do with their own bodies?
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This is one of the stupidest ideas I’ve heard. Seriously.