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breaking news: someone found a legit reason to use bitcoin

Spungo

Diamond Member
Jul 22, 2012
3,217
2
81
to buy illegal drugs

The currency used on the site is called Bitcoin — a digital currency that makes it nearly impossible for authorities to follow the money trail. One Bitcoin currently converts to just over $11 (Canadian), but the rate changes on a daily basis.
Bitcoin’s main draw to illicit websites such as Silk Road is that it is decentralized and uses a network of computers, or nodes, to make monitoring transactions online much more difficult.

Mystery 100% solved. Use Tor so they can't track your IP then use bitcoins so they can't follow the money. w00t. Time to find a site that sells grenade launchers and fully automatic AK-47s in exchange for bitcoins. :cool:
 

Spungo

Diamond Member
Jul 22, 2012
3,217
2
81
so are you long or short bc's?
I don't think this would have much effect on bitcoins if people buy them just for the drug transaction then the seller immediately cashes them in. I can't imagine drug dealers holding large amounts of bit coins just to see where the price goes.
 

DucatiMonster696

Diamond Member
Aug 13, 2009
4,269
1
71
to buy illegal drugs




Mystery 100% solved. Use Tor so they can't track your IP then use bitcoins so they can't follow the money. w00t. Time to find a site that sells grenade launchers and fully automatic AK-47s in exchange for bitcoins. :cool:
You can do this already with US currency. Also what do you think the biggest import from the US is for Mexico and its Mexican drug cartels? Hint: It ain't drugs or ATF green light guns.
 

Spungo

Diamond Member
Jul 22, 2012
3,217
2
81
No shit... this has been pretty much the only market that accepts BT currency since the very beginning.
Well why didn't anyone tell me this? I've seen bitcoin discussions on lots of forums and IRQ channels and nobody explicitly stated that they were used for buying illegal drugs.
 

MrColin

Platinum Member
May 21, 2003
2,403
3
81
I've never been to silk road but I've been mining coins and trading on volatility for a little over a year now. The price hit over $15 today, cant wait for a precipitous drop.
 

davmat787

Diamond Member
Nov 30, 2010
5,513
24
76
I've never been to silk road but I've been mining coins and trading on volatility for a little over a year now. The price hit over $15 today, cant wait for a precipitous drop.
I get what a bitcoin is, but what exactly is this mining you speak of? Just curious.
 

MrColin

Platinum Member
May 21, 2003
2,403
3
81

Doppel

Lifer
Feb 5, 2011
13,306
2
0
Not even close.
In fact, not only is he close, but now that some people actually *chuckle* will trade real, actual USD for it, it's 100% accurate.

Another way to define bitcoin mining is it's something a person does before then going to other forums and promoting the concept to people, this only slightly preceding the inevitable mockery that always erupts from these people.
 

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