04 Oct '13, 2pm

Why reports of bitcoin’s death are greatly exaggerated

Why reports of bitcoin’s death are greatly exaggerated

The atmosphere surrounding the bitcoin world has been in a whirlwind the past few days. This has been because of general carelessness and what appears to be a comedy of errors that has landed the so-called “Dread Pirate Roberts” Ross Ulbricht in the slammer. As the purported sole proprietor of the black market bazaar the Silk Road, Ulbricht has quite possibly stumbled upon one of the darkest uses of virtual currencies: people will use them to buy narcotics, weapons and other items of questionable merit. The price This has quite possibly created a black cloud over the world of BTC. Trader sentiment has been clear: the disappearance of an illicit use for bitcoin like the Silk Road did indeed create a sell-off. This particular incident is one that has not been seen since April, when a spectacular run-up in the price of bitcoin peaked with a major disruption in service for the...

Full article: http://www.coindesk.com/reports-bitcoins-death-greatly-ex...

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