Silk Path Founder Arrested While Bitcoins Plummet

Silk Path Founder Arrested While Bitcoins Plummet

Bitcoins come in the news, between the shut down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.

It’s been a significant week for Bitcoins into the news; a triple whammy, actually.

First, there was the arrest by the FBI of Silk Road’s founder known online only by his handle ‘Dread Pirate Roberts’, but evidently understood to the feds just a little more intimately as Ross William Ulbricht- as well as the seizure and shut down of this Silk Road site itself. Silk Road was an exclusively Bitcoin gambling site, well-known to numerous being an available market for illegal drugs and much more; the web site’s just below a million registered users were frequently money launderers, based on the arrest warrant.

‘Based on my training and experience, Silk Road has emerged as the absolute most advanced and extensive marketplace that is criminal the Internet today,’ FBI Special free indian dreaming slot games Agent Christopher Tarbell noted in the complaint. Tarbell added that into the past 2 1/2 years, Silk Road generated some $1.3 billion worth of equivalent Bitcoin trades and netted $85 million in commissions for itself, often for things as macabre as hiring hitmen, looking for computer hackers or buying illegal weapons.

Major Rate Volatility Ensues

Meanwhile just a few times after the shut down of the web site by the feds and the arrest of Ulbricht Bitcoins themselves went through some Cat-5 volatility, as soon as the rates for the currency that is digital from $139 per Bitcoin to $109.71 per Bitcoin in only under three hours.