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How Bitcoin Price is Controlled by Dark Markets

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How Bitcoin Price is Controlled by Dark Markets

Post by Vladdirescu on Sat Oct 14, 2017 1:44 am

"I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones"

BitcoinTalk post in 2010

You hear stories like that all the time - someone bought, mined, or get payed in Bitcoins in 2011, dumped old computer, and then — bam! — the coins are worth 4 000 $ each in 2017. There is no use crying over spilled crypto milk — very few saw that coming. But what caused such massive cash influx into Bitcoin? Why it makes USDs — the backbone of the fiat financing — seem like a worthless peace of paper? Is BTC just a bubble? There is an answer that no one talks about.

Dark markets are Tor-powered, anonymous libertarian marketplaces, offering everything you can’t buy in Walmart— stolen IDs, cards, drugs, guns, pirated content. In general dark markets are ultra secure and anonymous, because the payments in crypto are anonymous thanks to tumblers or mixers, that basically use coinjoin protocol to launder cash. But most of the time FBI manages to find a way to either DDoS or shed a light on one or two markets each year.

The full article: https://coinidol.com/how-bitcoin-price-is-controlled-by-dark-markets/


Vladdirescu

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