Bitcoin: authorities shut down Silk Road online marketplace

[zombie67]

http://www.washingtonpost.com/business/economy/bitcoin-industry-reeling-as-authorities-shut-down-silk-road-online-marketplace/2013/10/02/961b105a-2ba1-11e3-97a3-ff2758228523_story.html

[John P. Myers]

It'll settle down pretty quick once people stop freaking out and realize bitcoins aren't what got him caught.

[zombie67]

But it's like stepping on a turd... The stank is now attached.

"Stepped in what?!"

[c303a]

What do you think will happen to all his bitcoins now that he is in jail or do you think they will let him access them via computer from his jail area?

[Mumps]

The article states they were confiscated... Regardless of who "owned" them... Talk about Illegal-search-and-seizure...

[John P. Myers]

CoinX Bitcoin Exchange (http://www.businessinsider.com/coinx-bitcoin-exchange-2013-10)


The CoinX platform utilizes the same hosting facility and corresponding security protocols as the New York Stock Exchange. It is registered with the U.S. Treasury Department’s Financial Crimes Enforcement Network and is fully compliant in the jurisdictions that it trades.
Maybe this will help the image.

[trigggl]

Thanks to my new $30 ASIC miner, I now own a grand total of 0.02 BTC. I think that's worth about $2 currently.

[John P. Myers]

Man Forgets He Bought $27 in Bitcoins. Finds Out They're Now Worth $886k (http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home)

Man...if only...

[cineon_lut]

Does anyone here do any hardcore mining? I'm curious about those little USB ASICs, but I think it would be cool to have a machine on this. Seems ATI friendly.

[John P. Myers]

Does anyone here do any hardcore mining? I'm curious about those little USB ASICs, but I think it would be cool to have a machine on this. Seems ATI friendly.

It's highly recommended not to use a regular GPU for mining. The amount you'll pay for electricity exceeds your mining return by several fold. It's pure loss. ASICs are the way to go.

Edit: and here's another advancement for Bitcoins: http://www.cbc.ca/news/business/world-s-first-bitcoin-atm-goes-live-in-vancouver-tuesday-1.2251820

[John P. Myers]

Overstock.com now accepts Bitcoin as payment. (http://www.wired.com/business/2014/01/overstock-bitcoin-sales/)Makes $126,000 from Bitcoin sales on first day.