Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales: Sparrowvsrevolution writes "Every...

Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales - Slashdot

Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales: Sparrowvsrevolution writes "Every...

"Every day or so of the last six months, Carnegie Mellon computer security professor Nicolas Christin has crawled and scraped Silk Road, the Tor- and Bitcoin-based underground online market for illegal drug sales. Now Christin has released a paper (PDF) on his findings, which show that the site's business is booming: its number of sellers, who offer everything from cocaine to ecstasy, has jumped from around 300 in February to more than 550. Its total sales now add up to around $1.9 million a month . And its operators generate more than $6,000 a day in commissions for themselves, compared with around $2,500 in February. Most surprising, perhaps, is that buyers rate the sellers on the site as relatively trustworthy, despite the fact that no real identities are used. Close to 98% of ratings on the site are positive."

Full article: http://news.slashdot.org/story/12/08/07/1910238/bitcoin-b...

Tweets

@BitcoinJake » 19 Aug '12, 4am
#Bitcoin + Silk Road = Libertarian wet dream. Silk road is still popular for buying drugs, weapons, video games, etc. [link]
@emanuelecisbani » 11 Aug '12, 6pm
RT @natpicone: Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales [link]
@Carballada » 08 Aug '12, 10am
Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales: no tenía ni idea [link]
@darkpixel » 08 Aug '12, 12am
Quick--somebody get the government involved: 2% of anonymous sellers in the black market are untrustworthy... [link]
@esolves » 07 Aug '12, 9pm
TechNews: Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales: Sparrowvsrevolution wri... [link]
@hugomillwood » 07 Aug '12, 9pm
Uh oh! [link]
@TBK_Consult » 07 Aug '12, 8pm
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@juanan » 07 Aug '12, 7pm
Silk Road, the Tor- and Bitcoin-based underground online market for illegal drug sales (research paper inside) [link]
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