[2017-06-13]The Hidden Reason Behind Bitcoin’s Increasing Fees: Darknet Mixers

[TwoTimes]

Just recently a darknet marketplace (DNM) vendor who details he’s been involved with the bitcoin industry for five years, says the rising fee market is caused by marketplace mixers that process multiple transactions at a time. The vendor details that DNM sales using these mixers are forcing him and many others to pay for 50 transactions at a time at ten times the cost, to cover their tracks.

As much as people don’t like to talk about it, bitcoin has been used widely across DNMs across the deep web for years. Many people believe the lion’s share of bitcoin transactions come from DNM sales. Since the inception of the first DNM — the Silk Road — illicit narcotic sales have increased exponentially. Furthermore, two years after the sentencing of the Silk Road operator there are more online marketplaces located on the deep web than ever before. Over the past year, these markets have been extremely busy as bitcoin’s value has skyrocketed and many of the top underground market users have reported on experiencing big issues with withdrawals.

Read More Here >>> https://news.bitcoin.com/the-hidden-reason-behind-bitcoins-increasing-fees-darknet-mixers/

[bbc.reporter]

Interesting article. So we can assume that the next cryptocoin to boom in the darknet markeplaces will be Monero? There could be 2 or 3 more darkmarket sites opening up for Monero acceptance by early 2018. I reckon they will have no choice.

[freebutcaged]

Why not using bitmixer which is a high volume mixer and trustworthy? I think they are morons to pay several times over the value of their

Transactions just to cover their tracks. simply by using a mixer there will be no more high fees  . this is an indication of the consequence

Of using too much drugs, they are doing something totally unneeded.

[iamTom123]

Why not using bitmixer which is a high volume mixer and trustworthy? I think they are morons to pay several times over the value of their transactions just to cover their tracks. simply by using a mixer there will be no more high fees. This is an indication of the consequence of using too much drugs, they are doing something totally unneeded.

The market must really be a big moneymaker so they are so willing to pay the transactions fees much higher than normal. Although Bitcoin is playing a part in the current of the dark markets, what I know is that even if Bitcoin can be shut down they can still find ways to fund their purchases. I believe that the dark net has been existing a long time ago under the radar though it is now being exposed most especially with that Silk Road saga.

Is the government powerful enough to control (at least) this underground market? Or just like Bitcoin, this is something beyond their own expertise?