Just one month following the FBI seized and shut straight down Silk Road online website known as the Amazon.com of drugs, weapons and worse it’s back. Yup, into the annals of criminal history, that one has to be up there in the chutzpah department; it’s just like the capabilities behind the site are totally thumbing their collective noses at U.S. federal authorities.

Are Bitcoins and Silk Path Founders Aligned?

Also more shocking, brand new allegations connect Silk Road’s founder Ross William Ulbricht aka Dread Pirate Roberts until his FBI takedown final month to the still publicly unidentified initial creator of Bitcoins, the digital currency exclusively utilized to pay for illegal items and services on the old and now brand new site.

The allegations stumbled on light after two Israeli boffins one a cryptographer readied a soon-to-be-published paper that claims that the FBI seizure in fact just got their hands on about 22 percent of the $80 million in commissions Ulbricht’s web site had garnered from sales of an estimated $1.2 billion; sales on everything which range from assault weapons to illegal narcotics of any kind and even for hit men services for hire.

Dorit Ron and Adi Shamir are the two researchers who have brought these allegations to light, incorporating which th (more…)

It’s very nearly come to symbolize the war between arranged society additionally the maverick movement away about them late last week from it, but whatever your views on Bitcoins the world’s most popular cryptocurrency and much in the news of late the news was not good. After several weeks of skyrocketing value hikes that took the electronic money from about $60 per Bitcoin last March to more than $1,200 in late November, a stern caution from the central Chinese bank not to manage the currency caused a tumble that, as of press time, had Bitcoins poised between $731 and $737 in US dollars.

Meaningless Currency

The caution arrived after the bank noted that the cryptocurrency has no ‘real meaning’, lacks any legal backing and shouldn’t be dealt with by the Asian country’s banking institutions at all. Also noted and most likely more at the base of the banking that is chinese’s disdain for the money had been the recent high-profile connection between Bitcoins and money laundering and illegal items procurement, especially on internet sites like Silk Road, which ended up being recently seized and shut down by the FBI, only to reopen a month later ‘under new management.’

Prior to the publicly issued warning, Bitcoins were gaining in appeal with the Chinese as elsew (more…)