Bit by Bitcoin: Virtual Currency Looks a Little More Real - Facts So Romantic - Nautilus
samedi 19 octobre 2013 à 00:23 Neros, le 19/10/2013 à 00:23
Earlier this month the FBI arrested the alleged ringleader of Silk Road, an online bazaar that allowed users to buy and sell illegal drugs (among other things), ending its life on the Web—a life that was surprisingly long, considering what was going on there. At the time many people suspected this would have the domino effect of bringing down Bitcoin, a digital “crypto-currency” created, traded, and held entirely within a decentralized computer network. Bitcoin is anonymous and untraceable, thanks to the way the code is written, and many people thought its predominant use was in Silk Road—like tokens you buy in an arcade, except you trade them for drugs instead of turns playing an obnoxiously loud pinball machine. Indeed the virtual currency’s value dropped by about a third soon after the Silk Road bust, falling from $145 to $110.
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Earlier this month the FBI arrested the alleged ringleader of Silk Road, an online bazaar that allowed users to buy and sell illegal drugs (among other things), ending its life on the Web—a life that was surprisingly long, considering what was going on there. At the time many people suspected this would have the domino effect of bringing down Bitcoin, a digital “crypto-currency” created, traded, and held entirely within a decentralized computer network. Bitcoin is anonymous and untraceable, thanks to the way the code is written, and many people thought its predominant use was in Silk Road—like tokens you buy in an arcade, except you trade them for drugs instead of turns playing an obnoxiously loud pinball machine. Indeed the virtual currency’s value dropped by about a third soon after the Silk Road bust, falling from $145 to $110.
(Permalink)