Bitcoins are in the news, between the closed down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.
It’s been a significant 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 evidently known to the feds a little more intimately as Ross William Ulbricht- while the seizure and turn off of the Silk Road site itself. Silk Road was an exclusively Bitcoin site that is gambling well-known to many as an open market for illegal drugs and more; the web site’s just under a million registered users were frequently money launderers, in line with the arrest warrant.
‘Based on my training and experience, Silk Road has emerged as the most advanced and extensive criminal marketplace on the world wide web today,’ FBI Special Agent Christopher Tarbell noted within the issue. Tarbell added that within the past 2 1/2 years, Silk Road generated some $1.3 billion worth of equivalent Bitcoin trades and netted $85 million in commissions for itself, frequently for things as macabre as hiring hitmen, looking for computer hackers or purchasing weapons that are illegal.
Major Rate Volatility Ensues
Meanwhile merely a few times following the shut down of the web site by the feds and the arrest of Ulbricht Bitcoins by themselves went through some Cat-5 volatility, once the rates for th