Thursday, October 15, 2015
This is a quick post as I believe the subject of bitcoin as the currency of criminals needs to be addressed but not belabored. Yesterday Ross Ulbricht was convicted of being the operator of the online drug bazaar Silk Road. People have asked me what this means for bitcoin and whether this spells the end of digital currencies.
BK’s answer:
Selling drugs and other illicit items is illegal whether one uses bitcoin, $100 bills, Yen, Euro, or wooden nickels. Therefore, suggesting that bitcoin was the reason for this crime is about as logical as shutting down the internet because Silk Road was website.
That is all.