Bitcoin on the Dark Web: The Facts

Bitcoin on the Dark Web: The Facts

Bitcoin has been the de facto currency of the Dark Web - the 'hidden' Internet accessible only by Tor - since the pioneering marketplace Silk Road, the 'eBay of drugs', arrived in 2011. But just how much do we know about these new underground economies? Who is buying and selling - and what? Here's what available data can tell us about bitcoin on the Dark Web. Bitcoin on the Dark Web: the Facts

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The Dark Web - The Bitcoin Slang Market

Many people believe that search engines, especially Google, can index most of the pages available on the web for a given search query. Nonetheless, the truth is that there is a massive part of the internet that cannot be accessed by Google's crawling spiders. This part of the web is known as the "Dark Web" and it is a place where cryptocurrency, namely bitcoin, is the official currency. What is The Dark Web? The dark web, or deep web (false name as the deep web is a part of the dark web), represents the parts of the world wide web that are hosted on overlay networks, darknets, TOR....

Inside Barcelona's Bitcoin Drug Lab

At the headquarters of Energy Control in Barcelona, Northern Spain, a nondescript envelope arrives. Hidden inside, between layers of cardboard and tape, are two fluorescent pink pills purchased from one of many eBay-style marketplaces on the dark web. For €50-worth of bitcoin, the non-profit provides anyone in the world with a breakdown of the substances contained in their drugs - and the quantity - no questions asked. Energy Control has been carrying out drug checking in raves and at its labs since 1998. Its dark web service, introduced in April 2014, operates under the same premise: to....

Survey: Silk Road Closure Didn't Stop Dark Web Drug Surge

Drug sales on the dark web actually increased after the closure of bitcoin-only marketplace Silk Road, a new survey has shown. Established by addiction specialist Dr Adam Winstock in 2011, the Global Drug Survey is a harm reduction initiative that seeks to provide accurate statistics on substance use worldwide. Analysing over 100,000 responses from 50 countries, the survey found the number of users buying drugs from dark marketplaces rose by 1.2% in 2014. The UK led this surge in demand, with 15.1% of British drug users buying from the dark web, a near-3% rise from the year before.....

Bitcoin Exchange Kraken Launches New Dark Pool

San Francisco-based digital currency exchange Kraken has launched a new dark pool for bitcoin trades. The dark pool, which functions as an invisible order book separate from its public offering, is intended to provide a means for traders to move more than 50 BTC (roughly $12,500 at press time) on the market in relative secret. Dark pools are used throughout the global financial system, though the practice has faced rising scrutiny from regulators, and banks have been penalized in the past for unlawful activity within the dark pools they operate. Supporters of dark pools say they help....

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Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill. I’m not surprised to see that happening.

Jim Rickards, American Lawyer, Economist and Investment Banker