2013-01-11 WorldCrunch.com - SILK ROAD: DEEP INSIDE THE INTERNET HIDES A BOOMING

[SwarmStream]

Fail:

On Silk Road, payments are made through Bitcoin, the electronic payment system that leaves no traces. The site automatically generates a virtual currency through a series of computers networked together. All you need to buy some of this currency is a credit card. You register your Bitcoin account with the site and then you are ready to purchase what you want, in total anonymity.

http://www.worldcrunch.com/tech-science/silk-road-deep-inside-the-internet-hides-a-booming-market-for-any-kind-of-drug/internet-deep-web-bitcoin-silk-road/c4s10614/

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[kiba]

###Culture

The one universal cultural practices that bitcoiners have is to say "FAIL!" and then faceplam after everytime someone misunderstood bitcoin. In time, bitcoin dominated the world and become the one universal currency. However, the original bitcoin culture survives as the faceplamming people, known for faceplaming everytime somebody make stupid statement about cryptocurrency technologies and money in general. It is well known that the quality of a news organization can be verified by the accuracy of bitcoin articles, thus they can be correlated by the amount of faceplamming actions commited by bitcoiner.

That is not to say bitcoiners are smarter than anyone. On the contrary, they are known for being the butt of jokes, scams, and their own self inflicted stupidity. However, they understood bitcoin better than anyone on the planet.

[Jakers]

This is what I've been trying to tell everybody here! There's so much black-market things BTC are used for. This site generates millions every year, something like 7+ Million if I remember right, just in Escrow. People were saying the illegal activities used for BTC were miniscule, pshh. This is only one site, and it has as much sales if not more than this site has every day. There average produced is about 5-6 BTC, and one vendor sends out about 3-4 orders every day. Some of them even shop twice a day. It's crazy to think this is happening everywhere, with slaves, illegal guns, drugs, pretty much anything illegal because there is absolutely no paper trail.

(I haven't bought from anything from these sites, I've just browsed them)

[gimme_bottles]

lol, one of the articles with the worst research ever. just 5 min on google would have made the author sound a lot smarter.

[nelisky]

The site automatically generates a virtual currency through a series of computers networked together. All you need to buy some of this currency is a credit card.

Oh, the level of ignorance from the press never ceases to amaze me. When I think they are starting to understand things...

[Jakers]

Just to clarify, I wasn't talking about anything that had to do with his idea or what he said. I was talking about the Deep-web in general, and what actually happens on The Silkroad, I have no idea where he gets his info from.


(I don't buy from these sites, I just browse them, and have read articles about them)


There was a vendor from Silkroad named Tony56 or something, and he ran off with $36,000 worth of BTC; held funds. He did it during a holiday or something so it looked like he was just really busy and couldn't send his orders out. Since then Silkroad has been encouraging everyone to use their automated Escrow system, but even before then they had the Escrow system. It actually is all anonymous, there's no way to even see the email Tony56 used, and he got away with over $36,000 in BTC. You have to pay for a vendor's permit on that site to in order to sell things, so not just anybody can come on and sell things.



The mysteries of the deep-web.....