Silkroad seized, DPR arrested

Shocking.

How stupid do you have to be to live and operate a website like this in the United States? If you're going to do something like this, go live in the middle of bumfuck Mongolia or something where no one gives a shit and the U.S. government can't touch you.

I don't know what is worse, that these idiots were living in the US or that with all this NSA bullshit it still took them 3 years to catch the dude?

But...dark internet!Daaaaarrrrkkk

Itzena_sl said:

But...dark internet!Daaaaarrrrkkk

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Deeep darrrrrrk .... jail cell. He'll be eligible for parole in 2748.

Ronne_sl said:

Curious to see how long the armory lasts now. Maybe they are smarter than DPR, but we'll see.

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Is that another drugs site on Tor? If it's still up after today, then the owners are quite daft.

Imagine that. You decide to mint your own currency and the federal government gets all upset about it for some reason.

Buttcoins will require the explicit backing of a government to work. And when that happens, it won't be sekrit libertarian dollars anymore.

Iannis_sl said:

Buttcoins will require the explicit backing of a government to work. And when that happens, it won't be sekrit libertarian dollars anymore.

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Except why would a government adopt Bitcoins when they could just make their own using the same code - or code that isn't as terrible for use as actual currency even.

Tea_sl said:

Except why would a government adopt Bitcoins when they could just make their own using the same code - or code that isn't as terrible for use as actual currency even.

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Well that's kinda the point. Virtual currency will happen (it's already happened), but it won't be named buttcoins.

Edit: One of the good things here is that the whole thing has been "proof of concept"-ed in a public space. So that's actually good.

hodj_sl said:

That'll teach chemical engineering majors to pretend they're IT guys.

(Dread Pirate Roberts has a masters in chemical engineering, so he is an idiot, but he's not a stupid idiot. He's a smart idiot, which is somehow worse.)

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Smart people do stupid things all the time. Stupid people never do smart things.

Tuco_sl said:

I don't see how another illegal website won't be able to pick up the pieces.

bitcoinity.org/markets

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I don't know why any sane person would want to paint a giant target on their back.

Tuco_sl said:

Cool story. Looks like btc fell 15%. Not really damning yet. I don't see how another illegal website won't be able to pick up the pieces.

bitcoinity.org/markets

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Well any wide swings in value damn it for the intended purpose of what it is. If you're looking at it like buying online gold that's one thing. But what buttcoins purport to be is a form of currency, not an investment.

A dollar has to be worth a dollar. You can't have a currency which changes value in the time it takes to go buy a loaf of bread with it.

Which is why it will take the explicit support of a government. I doubt even the banks which are too big to fail can guarantee that sort of stability. But I expect that a coalition of them do.