Bitcoins have been in the news, between the shut down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.
It’s been quite a week for Bitcoins within the news; a triple whammy, actually.
First, there was the arrest by the FBI of Silk Road’s founder known online only by their handle ‘Dread Pirate Roberts’, but apparently understood to the feds a little more intimately as Ross William Ulbricht- and the seizure and shut down of the Silk Road web site itself. Silk path had been an exclusively Bitcoin gambling site, well-known to many being an open marketplace for illegal drugs and more; the web site’s slightly below a million registered users were often money launderers, in line with the arrest warrant.
‘Based on my training and experience, Silk Road has emerged as probably the most advanced and extensive criminal marketplace on cyberspace today,’ FBI Special Agent Christopher Tarbell noted within the grievance. Tarbell added that within the past 2 1/2 years, Silk path generated some $1.3 billion worth of comparable Bitcoin trades and netted $85 million in commissions for itself, often for things as macabre as employing hitmen, seeking out computer hackers or buying illegal tools.
Major Rate Volatility Ensues
Meanwhile merely a few times following the shut down of the site by the feds and the arrest of Ulbricht Bitcoins themselves went through some Cat-5 volatility, whenever rates for the curr (more…)