Bitcoin: more than just the currency of digital vice

Bitcoin: more than just the currency of digital vice | Business | guardian.co.uk

guardian.co.uk 04 Mar '13, 4pm

Bitcoin: more than just the currency of digital vice

Dale doesn't exactly look like an international crypto-criminal. He's soft-spoken, baby-faced, and a senior at an Ivy League college. But every couple of weeks the political science major logs onto the Silk Road, an online black market that has been described as an "amazon.com of drugs" to buy wholesale quantities of "molly" (also known as MDMA, a particularly "pure" form of ecstasy), LSD and magic mushrooms. Some of these will be for his personal use, and the rest he'll flog to less tech-savvy classmates at a mark-up of up to 300%. On a good weekend, he can net a profit of around $2,500. It's a more lucrative sideline than waiting tables. While Dale prices his party favours in dollars, he pays for them the only way you can pay for anything on the Silk Road: by using Bitcoins, an untraceable digital currency founded in 2008 by the pseudonymous "Satoshi Nakomoto". Despite p...

Full article: http://www.guardian.co.uk/business/2013/mar/04/bitcoin-cu...

Tweets

@TeraEuro » 03 Apr '13, 4pm
RT @SconsetCapital: RT @moorehn: We beat you all by WEEKS. [link] RT @PLFino "so i guess we have to cover this bitcoin bullshit?" - every editor
@moorehn » 03 Apr '13, 4pm
We beat you all by WEEKS. [link] RT @PLFino "so i guess we have to cover this bitcoin bullshit?" - every assignment editor
@anashooa » 24 Mar '13, 1pm
@fahmimF Check this out. Quite interesting! [link]
@forexpro13 » 24 Mar '13, 9am
RT @JanvanderS: Bitcoin: more than just the currency of digital vice [link]
@JanSearch » 23 Mar '13, 11pm
I found this very interesting - if scary [link] [link]
@strangeflavours » 23 Mar '13, 5pm
a sober take on Bitcoin: [link]
@callumlee » 22 Mar '13, 2pm
Massive. Kids will soon grow up w'out cash @arupforesight: Bitcoin: more than just the #currency of #digital vice - [link]
@forexpro13 » 22 Mar '13, 2pm
RT @arupforesight: Bitcoin: more than just the #currency of #digital vice - [link] - #economic
@arupforesight » 22 Mar '13, 2pm
Bitcoin: more than just the #currency of #digital vice - [link] - #economic
@ArwaM » 21 Mar '13, 2am
Blimey, Bitcoin trading at $65! Wish I'd bought some when I wrote my Bitcoin article couple wks ago. #shamelessplug [link]
@chrstinadarling » 19 Mar '13, 4pm
I'm on holiday reading about Bitcoin. One day I'll be cool [link]
@Lizziefj » 13 Mar '13, 11am
Didn't even know there was a 'dark web' [link]
@forexpro13 » 11 Mar '13, 2pm
RT @idin77: RT @AmplifiedSocial : Bitcoin: more than just the currency of digital vice [link] …
@idin77 » 11 Mar '13, 2pm
RT @AmplifiedSocial : Bitcoin: more than just the currency of digital vice [link] …
@proteininsight » 11 Mar '13, 12pm
The shady past and future of the Bitcoin. The online currency that's changing how we think about money. Via @guardian [link]
@Younovator » 09 Mar '13, 10am
RT @janzemanek: Bitcoin: more than just the currency of digital vice [link]
@JudeBurger » 09 Mar '13, 8am
And if you're interested in #bitcoin, here's a primer. "Bitcoin: more than just the currency of digital vice" [link]
@Sune_Larsen » 08 Mar '13, 3pm
Bitcoin now trading @ €35, time to start mining ? [link]
@yousifnur » 07 Mar '13, 2pm
@AmnaYeh also this [link]
@AmwayInnovation » 07 Mar '13, 2pm
The decentralisation and democratisation of currency. Virtual currencies are here to stay. [link]
@forexpro13 » 07 Mar '13, 12pm
RT @tagbond: #Bitcoin is now the world's best #currency [link] @zeresoft #GoingOnlineGoZereSoft #money #banks #Guardian
@tagbond » 07 Mar '13, 12pm
#Bitcoin is now the world's best #currency [link] @zeresoft #GoingOnlineGoZereSoft #money #banks #Guardian
@BankOfMeVault » 07 Mar '13, 11am
RT @CivilisedMoney: Needs to happen: democratising currency! "The future of money may or may not include a Federal Reserve Bank of... [link]
@realrahulm » 07 Mar '13, 11am
RT @calebstorkey: Bitcoin: more than just the currency of digital vice [link] via @guardian
@CivilisedMoney » 07 Mar '13, 11am
Needs to happen: democratising currency! "The future of money may or may not include a Federal Reserve Bank of... [link]
@roelgroeneveld » 07 Mar '13, 6am
Zelfs The Guardian heeft 't al over Bitcoin: 'more than just the currency of digital vice' [link]
@ColleteDavis » 07 Mar '13, 12am
Great read!! [link] --What r ur thoughts on the future of #virtualcurrency?Personally,Im liking this space. #bitcoin #future
@mkmtthws » 06 Mar '13, 10pm
"Bitcoin has become the world’s best performing currency, with its value spiking 130% just this year." [link]
@CardTrak » 06 Mar '13, 3pm
Could Bitcoin Be More Than A Digital Currency? [link]
@forexpro13 » 06 Mar '13, 1pm
RT @FWebCreative: Bitcoin, monnaie virtuelle du future ! Wordpress l'accepte deja [link]
@FWebCreative » 06 Mar '13, 1pm
Bitcoin, monnaie virtuelle du future ! Wordpress l'accepte deja [link]
@beavitt » 06 Mar '13, 8am
Virtual currencies aren't Monopoly money. Rather, they may just be the thing to end the monopoly on money. [link]
@Joshrooms » 05 Mar '13, 9pm
Gangsta stuff: Bitcoin: more than just the currency of digital vice | Technology [link]
@KieranBeer » 05 Mar '13, 8pm
Although many of its uses aren't legit, Bitcoin is gaining ground as a legitimate currency. [link]
@blunt_ » 05 Mar '13, 7pm
Terrific discussion of BitCoin going on under this @Guardian article: [link]
@jamesfacts » 05 Mar '13, 3pm
cc @gordoncc Bitcoin is part of gradual, technological shift in way we think about $ RT @arwam: my Bitcoin article [link]
@ArwaM » 05 Mar '13, 3pm
In case you missed my Bitcoin article....It's got drugs, dictators & some crazy stats on where 'real' money goes : [link]
@MrHagan » 05 Mar '13, 1pm
#Bitcoin has become the world's best performing #currency, with its value spiking at 130% [link] #finance #digital
@escarson » 05 Mar '13, 1pm
I'm getting my birthday money in Bitcoins now, asking questions later [link]
@Hsuanrecords » 05 Mar '13, 12pm
Out to those that know and take note! [link]
@coryhaik » 05 Mar '13, 12pm
real virtual $ RT @moorehn: Dale is an Ivy League student who buys drugs to deal. His currency? Bitcoin. [link]
@morisy » 05 Mar '13, 12pm
RT @moorehn: Dale is an Ivy League student who buys drugs to deal. His currency? Bitcoin. [link]
@moorehn » 05 Mar '13, 12pm
Dale is an Ivy League student who buys drugs to deal. His currency? Bitcoin. [link]
@MikeDeeganJr » 05 Mar '13, 11am
The tender that Iran, drug dealers and other Silk road users prefer to legitimate currencies... [link]
@brianc13 » 05 Mar '13, 9am
interesting Guardian article about Bitcoins, made all the more fascinating by the polarised views in the comments [link]
@Xpackers » 05 Mar '13, 8am
Is this Digital Currency the future of our financial world? The controversial rise of Bitcoin... [link]
@avocat_tic » 05 Mar '13, 7am
#Bitcoin: ce n'est pas seulement la #monnaie du vice digital ! enfin un article grd pbc #paiement [link]
@BFSingh » 05 Mar '13, 6am
MT @Lamarche: #Bitcoin, the digital coin with a questionable past, is gaining ground as a legitimate currency [link] #MRX
@bitrific » 05 Mar '13, 5am
Would you say this article from the guardian on bitcoin is propagandist?: [link] Bitcoin... [link]
@Lucindawst » 05 Mar '13, 5am
@ZombieJesusHere [link]