02 Oct '13, 6pm

Bitcoin price nosedives after bust of underground drug market Silk Road

The price of Bitcoin, the semi-anonymous e-currency that acts like virtual cash, is falling rapidly after the bust of underground drug marketplace Silk Road . Silk Road was by far the largest single source of Bitcoin transactions, conducting more than $1 billion worth of business exclusively in the virtual currency. Federal agents shut the site down today and arrested the man they say is behind it. The news of Silk Road's demise sent the price of Bitcoin, which had been holding at around $130, plummeting to an average of around $85 in less than three hours with large spikes in trading activity. At the time of writing, the average price had rebounded back up to $108 . The sell-off appears to be driven by uncertainty about the future of the virtual economy, along with opportunism driven by speculators who are seeing a chance to make money off the currency's fluctuations. The...

Full article: http://www.theverge.com/2013/10/2/4795386/bitcoin-price-n...

Tweets

#Bitcoin

#Bitcoin

theverge.com 02 Oct '13, 3pm

It appears the Federal Bureau of Investigation has finally cracked down on Silk Road, the underground marketplace where us...

Silk Road

Silk Road

nation.time.com 02 Oct '13, 4pm

Silk Road, where cocaine and heroin were trafficked, is an online drug marketplace that exists on the “Deep Web,” a portio...

Bitcoin plunges 33% after Silk Road bust

bloomberg.com 02 Oct '13, 9pm

The price of Bitcoins listed on the Bitstamp Ltd. exchange plunged as much as 33 percent after charges were unsealed for t...

Silk Road Bust Could Slow Bitcoin Economy

technologyreview.com 03 Oct '13, 4am

News today that the FBI had arrested a man on suspicion of running the notorious online marketplace Silk Road, where bitco...

Bitcoin Values Plummet $500M, Then Recover, Aft...

wired.com 02 Oct '13, 9pm

Bitcoin, world’s most popular digital currency, had a roller coaster ride today after the federal government shut down the...

Bitcoin bust: Feds break up country's largest B...

bgr.com 03 Oct '13, 3am

before we could see what would have happened if a distributor had tried to pay Walt and Jesse using Bitcoins . CNN reports...

How sloppy digital hygiene led to the downfall of an underground Bitcoin drug market

How sloppy digital hygiene led to the downfall ...

washingtonpost.com 02 Oct '13, 8pm

A Gmail address association with Ross Ulbricht's Google+ account was one of the first things that tipped off investigators...

Bitcoin values yo-yoed today after the feds bus...

wired.com 02 Oct '13, 9pm

Bitcoin, world’s most popular digital currency, had a roller coaster ride today after the federal government shut down the...

Bitcoin falls after Silk Road arrest: The price...

bbc.co.uk 03 Oct '13, 12pm

Continue reading the main story HOW BITCOINS WORK Bitcoin is often referred to as a new kind of currency. But it may be be...

Bitcoin value plummeting following the Silk Road shut down by the FBI

Bitcoin value plummeting following the Silk Roa...

businessinsider.com 02 Oct '13, 5pm

The FBI seized Silk Road this morning . Silk Road is a website that let people anonymously buy illegal drugs using Bitcoin...

Silk Road underground market closed – but other...

theguardian.com 03 Oct '13, 2pm

Silk Road, the best-known underground marketplace for the trade of illegal drugs on the internet, has been shut down leavi...

Silk Road ends: Feds arrest 'Dread Pirate Roberts,' alleged founder of largest Bitcoin drug market

Silk Road ends: Feds arrest 'Dread Pirate Rober...

boingboing.net 02 Oct '13, 5pm

j. Several hours later on March 29, 2013, DPR sent a message to "redandwhite," stating that is "causing me problems," and ...

Silk Road

Silk Road

rt.com 02 Oct '13, 3pm

FBI seizes ‘Silk Road' black market domain, arrests owner Published time: October 02, 2013 15:48 Get short URL Reuters / T...

Bitcoin bust: Feds break up country’s largest Bitcoin drug ring

Bitcoin bust: Feds break up country’s largest B...

news.yahoo.com 03 Oct '13, 3am

before we could see what would have happened if a distributor had tried to pay Walt and Jesse using Bitcoins . CNN reports...

Bitcoin falls after Silk Road arrest

bbc.co.uk 03 Oct '13, 12pm

Continue reading the main story HOW BITCOINS WORK Bitcoin is often referred to as a new kind of currency. But it may be be...