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Korean Job Discussion Forums
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augustine
Joined: 08 Sep 2012
Location: México
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 Posted: Fri Oct 04, 2013 10:05 am Post subject: The Silk Road bitcoin drug bust |
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Last edited by augustine on Wed Dec 03, 2014 4:30 pm; edited 1 time in total |
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On the other hand
Joined: 19 Apr 2003
Location: I walk along the avenue
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| Posted: Fri Oct 04, 2013 10:33 pm Post subject: |
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| He was apparently very affected by his reading of von Mises, and I believe there used to be someone on here who literally took on that name. |
Yes, as far as I know from chatting with him, he was Canadian(told me his home province, but that might have been in PM only, so I'll leave it unmentioned here), and had worked in the financial sector of various countries. Nice guy. |
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crescent
Joined: 15 Jan 2003
Location: yes.
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| Posted: Sat Oct 05, 2013 7:08 pm Post subject: |
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It isn't really a drug bust. No dealers or buyers have been arrested, and no drugs have been seized. Still, it's a fascinating "Breaking Bad' type of story that will surely result in a movie or two. Ulbricht's black market was solely responsible for an overwhelming share of Bitcoin trading and its seizure has caused a hefty crash in the currency's value. For anyone who has participated in their forums, or witnessed how 'honestly' business was conducted there, it was an intriguing experiment to say the least.
If the man had been trained in computer science, he may not have made the critical, idiotic mistakes he made that led to his downfall. The biggest of which was simply living in America. How he was not scared off in July, at the time he was being questioned for buying fake IDs, is for anyone to guess. At that same time, the Silk Road site was coincidentally being molested by botnets. The site was slow as molasses and often crashed. At the time, the rumor was that the outages were caused by criminal hacker gangs using the Tor net as a cover to launch attacks. Obviously, in reality, it was the NSA and other agencies attempting to barrage traffic, disrupt usage, and encourage the detour of users to sites that would reveal their identities.
To add another element to the story, the newest back market site, "Atlantis', boasting of tighter protection technology, eluded to security concerns as the reason for suddenly closing its doors just a few days before Silk Road's servers were seized. Many people are suspicious of this and of the added coincidence of their brazen advertising campaign which was launched at the same time as a crippling DDoS on Silk Road. Some claim Atlantis was a honey-pot.
I've become very interested in the idea of online anonymity at a time when there is so much being done to prevent it. Even Google, with the motto, "Don't be Evil" is aiding the NSA with developing tools to reveal identities. |
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Ginormousaurus
Joined: 27 Jul 2006
Location: 700 Ft. Pulpit
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| Posted: Mon Oct 07, 2013 7:48 am Post subject: |
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The Feds took $50 in Bitcoin from me!  I knew I should have emptied my account. |
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crescent
Joined: 15 Jan 2003
Location: yes.
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| Posted: Tue Oct 08, 2013 4:19 pm Post subject: |
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| I was wrong. Now it IS turning out to be a drug bust. |
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