Bitcoins are in the news, between the shut down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.
It’s been quite a week for Bitcoins within the news; a whammy that is triple actually.
First, there was the arrest by the FBI of Silk path’s founder known online only by their handle ‘Dread Pirate Roberts’, but evidently known to the feds just a little more intimately as Ross William Ulbricht- as well as the seizure and power down of the Silk Road web site itself. Silk path was an exclusively Bitcoin site that is gambling well-known to many being an open marketplace for illegal drugs and more; the web site’s just under a million registered users were frequently money launderers, based on the arrest warrant.
‘Based on my training and experience, Silk Road has emerged as the most sophisticated and extensive criminal marketplace on the world wide web today,’ FBI Special Agent Christopher Tarbell noted within the grievance. Tarbell added that within the past 2 1/2 years, Silk Road generated some $1.3 billion worth of comparable Bitcoin trades and netted $85 million in commissions for itself, often for things as macabre as employing hitmen, searching for computer hackers or buying illegal weapons.
Major Rate Volatility Ensues
Meanwhile just a few times after the shut down of the site by the feds and the arrest of Ulbricht Bitcoins by themselves went through some Cat-5 volatility, if the rates for