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Author Topic: [2015-08-16] CD - Dark Web Markets 'Processed more Bitcoin than BitPay in 2014'  (Read 988 times)
tyz
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August 16, 2015, 10:39:23 AM
 #1

Marketplaces on the dark web frequently processed more bitcoin transactions than BitPay last year, new research has found.

http://www.coindesk.com/dark-web-markets-processed-more-bitcoin-than-bitpay-in-2014/
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Carlton Banks
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August 16, 2015, 02:41:01 PM
 #2

More than Bitpay, eh?

I wonder what the operators of dark net markets will think about Bitcoin XT dropping support for Tor? They can choose:

  • Bitcoin Core - transactions limited to 7 tps, stream isolated over Tor
  • Bitcoin XT - transactions limited to 56 tps, no Tor support

I wonder which one works better for their profit margins?

Vires in numeris
unamis76
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August 16, 2015, 03:20:54 PM
 #3

If this is true and the study findings are exact, this is pretty big! Never imagined they'd move more cash than BitPay...

More than Bitpay, eh?

I wonder what the operators of dark net markets will think about Bitcoin XT dropping support for Tor? They can choose:

  • Bitcoin Core - transactions limited to 7 tps, stream isolated over Tor
  • Bitcoin XT - transactions limited to 56 tps, no Tor support

I wonder which one works better for their profit margins?

Doesn't XT have Tor support? There were XT nodes on Tor in the past (as well as other Bitcoin Tor node related talk that might possibly be composed of XT nodes)
Denker
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August 16, 2015, 04:25:05 PM
 #4

More than Bitpay, eh?

I wonder what the operators of dark net markets will think about Bitcoin XT dropping support for Tor? They can choose:

  • Bitcoin Core - transactions limited to 7 tps, stream isolated over Tor
  • Bitcoin XT - transactions limited to 56 tps, no Tor support

I wonder which one works better for their profit margins?

What about using another crypto currency instead? Wouldn't Litecoin be an option or any other altcoin?
Kprawn
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August 16, 2015, 07:40:20 PM
 #5

Ok, Why so much focus on Bitcoin.... Do you tell me, no other crypto currency are used to buy and sell drugs? Have their research only been focused on Bitcoin to put it in a

bad light? If they were biased, they would have show how much of this illicit activities are done with credit cards and cash too.

It's not news to us... we know Bitcoins are used for many other legal things too on a daily basis.  Grin

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aso118
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August 17, 2015, 01:00:06 AM
 #6

Bitcoin is still in its growth stage.
A few years ago, it was primarily used in the dark markets. This is no longer the case. But, it will take some time before the dark markets' share of Bitcoin usage moves to the fringes.


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Kakmakr
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August 17, 2015, 06:08:08 AM
 #7

I think many of these people on the Dark markets, have no clue on the anonymity of Bitcoin. They use it in the wrong way and expose themselves in the process. < In my opinion it's a good thing> Let them think they are and
then catch them with the tool, they have thought, would give them protection.

Bitcoin could be a great tool in the arsenal of the government, If they know how to use it to their benefit.

ashfaq
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August 17, 2015, 06:36:04 AM
 #8

I think many of these people on the Dark markets, have no clue on the anonymity of Bitcoin. They use it in the wrong way and expose themselves in the process. < In my opinion it's a good thing> Let them think they are and
then catch them with the tool, they have thought, would give them protection.

Bitcoin could be a great tool in the arsenal of the government, If they know how to use it to their benefit.
defo.. you sound like a government servant my friend ..but bitcoin is an answer to these governed currencies ,when no one pays nothing to governments and neither uses their currency and instead everything is P2P ..eventually they break and are left with no more Power and money to utilize it for their own good.

Rampton
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August 18, 2015, 10:45:18 AM
 #9

It's not surprising to me. Remember there are quite a few darknet markets and they were making millions in commissions alone, whereas bitpay is one company and only makes a tiny amount on commissions.

indiemax
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August 18, 2015, 03:13:19 PM
 #10

No surprise really,

after oil and defense

drugs have an insane turnover globally

can't see that changing  Grin
ashfaq
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August 24, 2015, 06:46:46 AM
 #11

I think the amount of coins involved in dark web are far less than the money involved in the fiat currency criminal activities ,but the problem is it is difficult to trace ...

Carlton Banks
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August 24, 2015, 07:11:07 AM
 #12

If this is true and the study findings are exact, this is pretty big! Never imagined they'd move more cash than BitPay...

More than Bitpay, eh?

I wonder what the operators of dark net markets will think about Bitcoin XT dropping support for Tor? They can choose:

  • Bitcoin Core - transactions limited to 7 tps, stream isolated over Tor
  • Bitcoin XT - transactions limited to 56 tps, no Tor support

I wonder which one works better for their profit margins?

Doesn't XT have Tor support?

Ostensibly yes. You first, though! I won't be trying it out.

Vires in numeris
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