Please create an account to participate in the Slashdot moderation system

 



Forgot your password?
typodupeerror
DEAL: For $25 - Add A Second Phone Number To Your Smartphone for life! Use promo code SLASHDOT25. Also, Slashdot's Facebook page has a chat bot now. Message it for stories and more. Check out the new SourceForge HTML5 Internet speed test! ×
Bitcoin

Submission + - Bitcoin-Based Drug Market Silk Road Thriving With $22 Million In Annual Sales (forbes.com)

Sparrowvsrevolution writes: Every day or so of the last six months, Carnegie Mellon computer security professor Nicolas Christin has crawled and scraped Silk Road, the Tor- and Bitcoin-based underground online market for illegal drug sales.

Now Christin has released a paper on his findings, which show that the site's business is booming: its number of sellers, who offer everything from cocaine to ecstasy, has jumped from around 300 in February to more than 550. Its total sales now add up to around $1.9 million a month. And its operators generate more than $6,000 a day in commissions for themselves, compared with around $2,500 in February.

Most surprising, perhaps, is that buyers rate the sellers on the site as relatively trustworthy, despite the fact that no real identities are used. Close to 98% of ratings on the site are positive.

This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

Bitcoin-Based Drug Market Silk Road Thriving With $22 Million In Annual Sales

Comments Filter:

PL/I -- "the fatal disease" -- belongs more to the problem set than to the solution set. -- Edsger W. Dijkstra, SIGPLAN Notices, Volume 17, Number 5

Working...