Study estimates $2 million a month in Bitcoin drug sales

Study estimates $2 million a month in Bitcoin drug sales | Ars Technica

Study estimates $2 million a month in Bitcoin drug sales

We've noted before that the cryptocurrency Bitcoin has been adopted enthusiastically by those engaged in legally dubious pursuits like gambling and drug purchases. Forbes points us to a new study that backs up this proposition with hard data. Nicolas Christin, a researcher at Carnegie Mellon, monitored the online marketplace Silk Road over a period of months. The research turned up some striking statistics about the volume and distribution of transactions made on the secretive site, which primarily facilitates drug deals. Silk Road sellers have collectively had around $1.9 million of sales per month in recent months. Almost 1,400 sellers have participated in the marketplace, and they have collectively earned positive ratings from 97.8 percent of buyers. And the service is growing, with Silk Road's estimated commission revenue roughly doubling between March and July of this...

Full article: http://arstechnica.com/tech-policy/2012/08/study-estimate...

Tweets

@craiig » 24 Aug '12, 3am
I'm just making sure you guys know that this is a thing that happens now in our weird internet future: [link]
@deviantglobal » 22 Aug '12, 10am
CMU researcher estimates Silk Road is doing $2m/month in Bitcoin-paid drug sales:... [link]
@binarybits » 17 Aug '12, 5pm
@IanDavey773 See e.g. [link]
@FaustoCepeda » 09 Aug '12, 8pm
BitCoin y drogas [link]
@Radicus201 » 09 Aug '12, 7pm
RT @drek1991: [link] @joerogan @ihatematt @Radicus201
@KOPNTechRadio » 09 Aug '12, 7pm
Study estimates $2 million a month in Bitcoin drug sales | Ars Technica: [link] #kopntechradio
@drek1991 » 09 Aug '12, 7pm
[link] @joerogan @ihatematt @Radicus201
@cafetero89 » 09 Aug '12, 5pm
@fabiomb mira si no se usa el #bitcoin [link] jaja!
@Pivar » 09 Aug '12, 3pm
@mattsaltzman @DrFrijoles RT @TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]
@jonhusband » 09 Aug '12, 2pm
RT @jessehirsh: Study estimates $2 million a month in Bitcoin drug sales | Ars Technica [link]
@CapptainDOPE » 09 Aug '12, 12am
@CarWould Bro the second link on my stories on my Twitter feed [link]
@BradJAshford » 08 Aug '12, 11pm
@SkyColeman RT @TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]
@KarileeD » 08 Aug '12, 11pm
An added bonus of buying drugs online: not having to make awkward small talk with your dealer [link]
@Thechambek » 08 Aug '12, 9pm
Rx? RT @AnonyOps: Study estimates $2 million a month in Bitcoin drug sales, doubled since March [link]
@TheQuantumCat » 08 Aug '12, 8pm
I finally found out what bitcoin is good for. [link]
@shannonbsnow » 08 Aug '12, 7pm
RT Online drug marketplace Silk Road has doubled sales since March @taylor_owen @joshuakeating: [link]
@taylor_owen » 08 Aug '12, 7pm
super interesting RT @joshuakeating: $2 million a month in Bitcoin drug sales [link]
@drknssonthedge » 08 Aug '12, 7pm
Anonymous@AnonyOps @JoeLindsay13 Study estimates $2 million a month in Bitcoin drug sales, doubled since March [link]
@CAM2Go » 08 Aug '12, 7pm
Study estimates $2 million a month in Bitcoin drug sales [link] #digitalcurrency
@colinarabyniuk » 08 Aug '12, 6pm
estimated $2 million a month in online Bitcoin drug sales [link]
@_cypherpunks_ » 08 Aug '12, 6pm
RT @AnonyOps: Study estimates $2 million a month in Bitcoin drug sales, doubled since March [link]
@AnonyOps » 08 Aug '12, 6pm
Study estimates $2 million a month in Bitcoin drug sales, doubled since March [link]
@contanjello » 08 Aug '12, 6pm
Woah [link]
@mondatoportal » 08 Aug '12, 5pm
New study shows $2 million in Bitcoin drug sales on Silk Road online marketplace: [link] #Bitcoin
@RushRusso » 08 Aug '12, 3pm
RT @TG_2: @BryanMicon #bitcoin #donkdown 2 million a month in drug sales on the internet...[link]
@MathUrein » 08 Aug '12, 2pm
Ventes de drogues, bitcoin et Tor. Je me dis que la prochaine énorme bataille autour du futur d'internet se jouera là: [link]
@BBriscella » 08 Aug '12, 1pm
RT @Craiger76Will: [link]
@TheUnivOfPaul » 08 Aug '12, 1pm
Want to buy drugs or gamble without fear? Go here. [link]
@704br » 08 Aug '12, 11am
Study: $2 Million Per Month In Bitcoin Drug Sales [link] via @Digg
@seatackiss » 08 Aug '12, 8am
“@TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]” @bigbobbyloco
@jonlund » 08 Aug '12, 8am
Sorte Bitcoins bag drug sales for $2 mio/mnd på Silk Road alene. ARS: [link]
@teeuwis » 08 Aug '12, 7am
RT @marc2503: Tor & Bitcoin zijn in principe bedoelt om privacy te waarborgen. Dat heeft ook zijn keerzijde, blijkt uit dit onderzoek [link]
@marc2503 » 08 Aug '12, 7am
Tor & Bitcoin zijn in principe bedoelt om privacy te waarborgen. Dat heeft ook zijn keerzijde, blijkt uit dit onderzoek [link]
@danimon » 08 Aug '12, 6am
Lo que se veía venir se ha vuelto obvio #bitcoin #lamalagente [link]
@SimmSmoke » 08 Aug '12, 5am
“@TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]” how do people come up with this?
@wyldesites » 08 Aug '12, 5am
@blacknblue30: RT "@joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]"
@SidM » 08 Aug '12, 4am
“Study estimates $2 million a month in Bitcoin drug sales” via @digg @crkmnstr [link]
@leoj3n » 08 Aug '12, 4am
RT @abraham: Study estimates $2 million a month in Bitcoin drug sales [link] Only $2 million?
@SamadMajid » 08 Aug '12, 4am
[link] very interesting indeed, sale of illegal drugs on the internet
@switch_mullet » 08 Aug '12, 4am
RT @innerfx: Study estimates $2 million a month in Bitcoin drug sales [link]
@robertrvd » 08 Aug '12, 4am
Wow seems like a good idea to use this. "FBI" @JoeRoganExp: Study estimates $2 million a month in Bitcoin drug sales [link]”
@jdrive » 08 Aug '12, 4am
RT @billbarhydt: Study estimates $2 million a month in Bitcoin drug sales with strong growth rate. [link]
@billbarhydt » 08 Aug '12, 3am
Study estimates $2 million a month in Bitcoin drug sales with strong growth rate. [link]
@MisterBlac » 08 Aug '12, 3am
"@TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]"I'm sure sum more will get caught
@PhAdEdNeUrOn » 08 Aug '12, 3am
@WhenSporksAttak 2 million a month in drug sales on the internet...untouchable, yep [link]”
@KcPaltmore » 08 Aug '12, 3am
@Harrayyy_93 @dan_smif @Danzairox [link]
@j10alexander » 08 Aug '12, 3am
The internet. A true democracy! RT“@TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]”
@BitcoinOz » 08 Aug '12, 3am
Study estimates $2 million a month in Bitcoin drug sales: We've noted before that the cryptocurrency Bi... [link] #bitcoin
@binarybits » 08 Aug '12, 3am
@rwchambliss I'm on it. :-) [link]
@halfmick » 08 Aug '12, 3am
"@TG_2: @joerogan 2 million a month in drug sales on the internet...untouchable, yep [link]" #wherewasthis10yearsago