03 Oct '13, 4am

Silk Road Bust Could Slow Bitcoin Economy

News today that the FBI had arrested a man on suspicion of running the notorious online marketplace Silk Road, where bitcoins were traded for illegal drugs, sent many people scurrying to watch how the value of the bitcoin reacted. After an initial 20 percent plunge in the value, the currency soon recovered–which some virtual-currency enthusiasts saw as proof that the bitcoin economy could easily handle the bad press and loss of Silk Road. In fact, it’s too early to make that call. There’s good reason to believe that the Silk Road bust may cause a freeze in bitcoin transactions that could trouble its still-nascent economy. Silk Road was popular in part due to bitcoin’s reputation for providing anonymity. But the FBI may now have evidence that could lead it to people who traded on the site. Such investigations could be helped by recent research showing that it is relatively ...

Full article: http://www.technologyreview.com/view/519846/silk-road-bus...

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businessinsider.com 02 Oct '13, 7pm

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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...

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businessinsider.com 02 Oct '13, 5pm

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twitter.com 03 Oct '13, 1am

$ still champ as ref currency 4 illicit activity! “@ kashhill : Silk Road shutdown leads to 11% drop in bitcoin value

Silk Road

Silk Road

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Silk Road

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