Silk Road forums

Discussion => Security => Topic started by: PrincessHIGH on October 15, 2012, 02:11 am

Title: Recent report in The Econmist regarding Bitcoin, SilkRoad mentioned
Post by: PrincessHIGH on October 15, 2012, 02:11 am
'Monetarists Anonymous After a spectacular crash, an online currency makes a surprising comeback'
(clearwebalert) http://www.economist.com/node/21563752

Quoted:
'On the website Silk Road, a sort of eBay for drugs hidden in a dark corner of the web known as Tor, Bitcoins are the only means of transaction. Buyers transfer their Bitcoins into an escrow account where they sit until receipt of the goods is confirmed. Bitcoin transactions on Silk Road are now worth $1.9m per month, estimates Nicolas Christin, a researcher at Carnegie Mellon University'.

The Economist quoted the $1.9 million from the Forbes article that came out in August calculated by Nicolas Christi (clearwebalert) http://www.forbes.com/sites/andygreenberg/2012/08/06/black-market-drug-site-silk-road-booming-22-million-in-annual-mostly-illegal-sales/ in spite of this it's a good report, it covers a basic outline of Bitcoin's history, and where things may be heading (it seems Bitpay is thriving at the moment), for anyone that's interested, it's an informative read.