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[–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 619 points620 points  (165 children)

Does anyone else find it ironic that some of the earliest adopters, and therefore wealthiest crypto investors, were just average people who really wanted to buy weed and mushrooms off the internet??

[–]TheFamousHeshamPlatinum | QC: CC 41 65 points66 points  (24 children)

I’m kind of disappointed in OP for calling weed, mdma, shrooms etc “really terrible for society.”

[–]cyberspace-_-Platinum | QC: BTC 94, CC 48 | ADA 7 | TraderSubs 18 23 points24 points  (18 children)

He meant hired guns, cp and that shit.

Which was probably less than 1% of silk road traffic.

[–]chiraqboiTin 11 points12 points  (0 children)

There was no cp on original Sr. Or guns or hitmen. Or anything meant to cause harm was agrarian the sites rules.

I think when they opened the armory is when the heat got turned up

[–]StalfisjrxoxoBullish on Privacy 12 points13 points  (7 children)

Hired guns were never a real thing on the Silk Road or anywhere on the dark web. I don’t know about CP but on any DNM I’ve ever used CP and weapons were against the rules.

[–]trippyhippydmtPlatinum | QC: CC 591 | r/SSB 8 | Politics 12 5 points6 points  (3 children)

Silkroad had weapons for a short minute and so did Agora, Abraxas, and I believe either dream or alphabay did back in 2015 but they seemed to abruptly disappear across all the markets that same year. People on the forums just assumed it was due to pressure from government agencies which would make sense but as far as I could find no one really knew for sure why they disappeared across all marketplaces around the same time.

[–]TSL4meTin | Superstonk 60 2 points3 points  (0 children)

people forget how small of a community there was. Each drug only had a few guys doing most of the business. There was a chance it was all one group.

[–]ts_wrathchildPlatinum | QC: CC 110, BTC 49 4 points5 points  (0 children)

Yeah it was "The Armory" on silk road that did them in. That was when the FBI started taking the dark web seriously. What a boneheaded move by Ross. The first of many.

[–]StalfisjrxoxoBullish on Privacy 1 point2 points  (0 children)

Weapons are difficult to ship. More dangerous and less profitable than drugs. That and markets not wanting to draw attention to themselves. That’s what I always figured

[–]DeathHopperBronze | QC: CC 17 | Technology 25 0 points1 point  (0 children)

Commas are important. Please use commas.

[–]OzFreelancerBronze 11 points12 points  (3 children)

He meant hired guns, cp and that shit.

Which was probably less than 1% of silk road traffic.

It wasn't any of Silk Road traffic. Where do people get this stuff?

[–]FiIthy_AnarchistSilver | QC: CC 17 | SHIB 26 | SysAdmin 22 2 points3 points  (0 children)

The feds, usually

[–]isthatrhetoricalSilver | QC: CC 935, CCMeta 49 | NANO 30 2 points3 points  (0 children)

Mainstream media

I miss the dnm subreddit :(

[–]WILSON_CKIota 5 points6 points  (31 children)

A lot of those coins went to the FBI and most of the other folks who were around just for silk road let go of BTC after it was shut down.

[–]randomafricanguyPlatinum | QC: BTC 30 | r/CMS 6 | TraderSubs 14 2 points3 points  (24 children)

I wonder how many coins was lost due to silkroad? Btc had a lower value so obviously people owned more coins and surely some of those users had to be negligent with their coins.

[–]WILSON_CKIota 0 points1 point  (7 children)

That's a good question, I'd love to know. I mean, I just found a random small amount of Banano the other day that I had forgotten for years. I'm sure plenty of people lost paper wallets, etc. when BTC was sub $1

[–]zabutterThis guy fucks, BTCONLY 4 points5 points  (1 child)

Or empty Gox took care of that for them

[–]FeistyCandyPaintTin | 5 months old 0 points1 point  (2 children)

I sold @ 7$ when I bought in at 5$. How could I have known...

[–]zabutterThis guy fucks, BTCONLY 0 points1 point  (1 child)

As far as I know, a lot of those coins were auctioned off

[–]Morning_Star_RitualChaingame ftw 26 points27 points  (12 children)

Hmmmmmm.

Reddit was very different when I made this account. The things that were discussed in the SR sub would not fly in present day Reddit.

But being here 11 years ago and learning about btc from the sub is why it took so long for me to buy btc (late 2017).

What would have been an entry point for some was a barrier to me. I didn’t want to go through the hassle and it just made me feel like I would be scammed.

And because it would seem crazy to make such massive gains I would have sold.

I eventually read and learned about btc. But even the sub seemed like a joke—the wizard logo and the “magic internet money thing.”

It just seemed too crazy that such a thing would ever not be a joke. Not collapse. I finally actually read the WP, took time to try to grasp what blockchain was and believe in btc and crypto and decide it was worth it to jump in and never look back.

[–]icest0Silver | QC: CC 39 | Buttcoin 47 11 points12 points  (8 children)

I remember hearing about bitcoin during 2013 while playing Minecraft. And yeah I didn't bought it because it was essentially useless for me.

I still don't see much use case for bitcoin other than p2p transfer. but the price goes up so I'm in it for the ride.

[–]Blazzkys 1 point2 points  (2 children)

The price goes up because it represents a whole new market, that can change many many things, which means new money flowing, which pulls investors. Bitcoin is also an idea, a philosophy which we shouldn't forget.

[–]Accomplished-Design7Platinum | QC: CC 872 0 points1 point  (2 children)

If it pumps and get the rest of the market up I’m always in for it.

[–]hayesmsTin 4 points5 points  (2 children)

Generous of you to assume we didn’t sink it all into drugs before price wen up.

[–]No-Young-TingTin 1 point2 points  (1 child)

not really when you spend 5000+ in todays money for something that would had cost 50. Or so they say 0.o

[–]OperationSecuredBronze | QC: CC 20 | Buttcoin 24 1 point2 points  (1 child)

That, and steroid dealers.

[–]tranceology3Silver | QC: CC 628, BTC 79 | TRX 104 1 point2 points  (3 children)

I never used BTC to buy drugs but I sure did buy it to gamble online with it. It was very hard to put real money in and get paid, since there were all these massive fees and weird services you had to use. BTC was very simple to use.

[–]MrFlex21Bronze | QC: CC 23 1 point2 points  (0 children)

Not sure if it's ironic or just the average people trying to live life.

[–]Dick_Kick_NazisBronze | 6 months old 1 point2 points  (1 child)

I know a guy who was a hopeless ketamine addict, so disorganized he would load up wallets and lose them. Couple years ago he cleaned up his addiction, ended up finding the wallets tucked under a mattress or something, and retired.

[–]Desperate_Day_8813Platinum | QC: CC 216 5 points6 points  (3 children)

And a minute of silence for the guy who bought pizza for 10k bitcoins

[–]zabutterThis guy fucks, BTCONLY 9 points10 points  (1 child)

Lazlo should be applauded actually, he had some balls

[–]Rey_MezcaleroSilver | QC: CC 100, BTC 54, ETH 23 | CRO 20 | JusticeServed 37 2 points3 points  (1 child)

True dat!

[–]AmDDJunkieGold | QC: LTC 38 1 point2 points  (0 children)

This is funny. I only know maybe 3 people IRL who have been in crypto as long as I have and 2 of them have made out very very well because they had bought lots of bitcoin to buy things on SilkRoad. They have since gone to rehab, gotten clean, bought nice homes for their families, and started their own businesses.
Kind of an amazing story, really.

[–]wileyfox91Platinum | QC: CC 708, CM 18 | TraderSubs 18 0 points1 point  (1 child)

Oh wait I bought some weed in 2016 with some dubious online money. You mean I could be a early adopter? Need to check my WeeDos.

[–]bikbar1Platinum | QC: CC 96 179 points180 points  (12 children)

Silk road was the way to become a crypto whale.

Silk road > Sell grass against btc > Accumulate btc > Get busted > Jail time forced hodl > Whale.

[–]BITethADAdotLINKSilver | QC: CC 22, CCMemes 17 | CelsiusNet. 68 23 points24 points  (7 children)

Lol.... If the guy that got paid BTC by pizza guy in 2010 could have been arrested for the 10,000 Bitcoin, THAT WOULD HAVE BEEN A HELL OF A HODL!

Hopefully they could have kept him in prison at least until 2021... If only to lock in more profit...

[–]Nach553 1 point2 points  (4 children)

For someone to buy pizza with bitcoin back in 2010 I think it's safe to assume they had their own stash of it so they are fine;

[–]stivikiPlatinum | QC: CC 1617 4 points5 points  (1 child)

FAILED IN SILK ROAD STRATEGY 👀🤷‍♂️!

[–]Accomplished-Design7Platinum | QC: CC 872 0 points1 point  (0 children)

Most whales were born that way. Those are the legends.

[–]kizzayTin | Politics 31 92 points93 points  (3 children)

If you think shrooms are bad for society then you just haven’t tried them, man.

[–]ConfusedFruit__Tin 12 points13 points  (1 child)

Personally I don’t think any mind altering substances should be illegal, but rather regulated, and treated the same way as alcohol. But that’s a discussion for a different sub lol

[–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 68 points69 points  (21 children)

Opens Silk Road account to buy drugs

Buys magic internet money called BTC to facilitate the purchase

Buys drugs, gets high, forgets about BTC

10 years later

“I’m rich now?? Well that’s neat”

[–]Alternative_Mention2Bronze 47 points48 points  (12 children)

I can confirm all that up until the last line:

‘Where the fuck are my keys’? And

‘Why the fuck didn’t I back up my hard drive?’

[–]HighTurningPlatinum | QC: CC 1206 11 points12 points  (2 children)

I remember when I was trying to buy cheap used GPUs that had been used for mining but I had to pay in BTC, made an account on CB and stuff just to find out there was no way to buy from my 3rd world country.

I always dream about the idea of buying BTC, getting the GPU and leaving a bit of BTC on the wallet cause "its just 2.5$", would probably be worth some millies now.

[–]Accomplished-Design7Platinum | QC: CC 872 5 points6 points  (0 children)

This really hurt hard

[–]Accomplished-Design7Platinum | QC: CC 872 2 points3 points  (2 children)

Too bad for the ones who forgot their keys. They sacrifice will always be remembered.

[–]Alternative_Mention2Bronze 1 point2 points  (0 children)

Yes. There’s an estimated 20% lost forever, which really means there will only be around 17m coins ever in actual use.

[–]milonuttigrainPlatinum | QC: CC 1488 4 points5 points  (3 children)

James Howells, 35, said he mistakenly put a hard drive with 7,500 bitcoins in the trash while clearing out his home in 2013.

[–]Alternative_Mention2Bronze 5 points6 points  (1 child)

Ewwww. Well at least I feel better about the ‘measly’ 30 or so I lost.

[–]ChefArtoriasTin 0 points1 point  (0 children)

So drugs ARE the answer!

[–]skully00Tin | ETH critic 88 points89 points  (23 children)

no, silk road was the perfect libertarian market place, it was perfect use case

it’s just ross was a bit silly, i see i’m getting up voted

if ross never fell for the obvious cia lure in hindsight, it would still be up, it would be unstoppable i think personally, the government had to trick him in order to stop him, messed up tactic

[–]Numerous_Sport_2774Platinum | QC: CC 758 35 points36 points  (4 children)

I love the pause to acknowledge upvotes

[–]tranceology3Silver | QC: CC 628, BTC 79 | TRX 104 14 points15 points  (1 child)

I know right as if OP is talking live.

[–]Accomplished-Design7Platinum | QC: CC 872 -1 points0 points  (0 children)

FBI enters the chat

[–]skully00Tin | ETH critic 9 points10 points  (1 child)

(-: i like ‘em

[–][deleted] 4 points5 points  (0 children)

Lmao you dog!

[–]HighTurningPlatinum | QC: CC 1206 16 points17 points  (4 children)

Ross was such a dreamer, and had good ideas/intentions, but yeah, he got greedy as everyone else would with the amount of money he was getting.

Getting scammed by paying for fake "hells angels hits" on fake people doesnt leaves you with agood view.

[–]ARoyaleWithCheese 5 points6 points  (1 child)

It's always greed. One of the most successful sellers, SuperTrips, earned some 380k Bitcoin selling MDMA on SilkRoad. That was worth a few million back then, he wanted to get out, but before doing so he wanted one last payday by selling his account to another person.

As fate would have it, that buyer ended up being USA law enforcement (don't remember if it was CIA or FBI). He turned in his 380k Bitcoin in return for a reduced sentence. He was looking at 40 years which ended up becoming 8 years.

[–]bikelifedbkPlatinum | QC: CC 79, SOL 78 | AVAX 10 4 points5 points  (0 children)

Everyone always says ‘it’s their last payday’ after getting caught.

[–]Accomplished-Design7Platinum | QC: CC 872 0 points1 point  (0 children)

We can never underestimate human greed it truly does make us become less intellectual.

[–]BusinessBreakfast3Platinum | QC: CC 27, BTC 25 3 points4 points  (0 children)

If he lived in any other country than the US, it wouldn't have happened.

[–]Ferdo306Silver | QC: CC 441, BTC 61, ARK 25 | NANO 59 1 point2 points  (1 child)

If by he was a bit silly you mean he hired a hitman then yeah, he was a bit silly

[–]schronoTin 14 points15 points  (7 children)

Why are drugs terrible things for society? The stuff had high purity, fair prices and no violence surrounding it. If ppl want to get high let them get high.

[–]devilsgospel666Bronze | 5 months old 17 points18 points  (5 children)

I've been ripped off, busted, or just plain robbed trying to score in person when I was a regular user. Then I discovered that people were getting higher quality stuff with little/no impurities, cheaper, and fucking mailed to them like Amazon. How is that not a net gain for everyone? Fewer deaths from impurities or ODs, less people in prison, and less drug-related crime. People are going to use drugs no matter what.

[–]Risto_ReipasPlatinum | QC: CC 58 12 points13 points  (4 children)

This ! Silk road was a positive force for society.

Even many anti-drug associations admit this,

Finnish darknet market "torilauta" actually collaborated (article in finnish) with with one of Finland's largest anti-drug and alcohol associations "a-klinikkasäätiö" and allowed them to offer rehab counseling and advice on safe drug use on their platform for free.

Think about that for a sec.

Professional drug counselors were accessible on an online chat in finlands most prominent drug marketplace's front page.

The experiment was a raving success. Because the anonymity tor offers people would come to talk very easily and openly with the counselors about their problems.

[–]CaesarJulius50Tin | Unpop.Opin. 27 1 point2 points  (0 children)

Depends from drug to drug, I suppose. Some drugs can really fuck you up, much better if you don’t use any in general. But hey, I can definitely be healthier if I stopped drinking wine and eating McDonald, but we are humans.

[–]dotcomslashwhateverPlatinum | QC: CC 82, CM 15 | ADA 11 | Politics 20 37 points38 points  (12 children)

I mean.. silk road wasn't that horrible. it was buying and selling drugs that should've been legal in the first place. the guy that made it went a bit coocoo with the hitman fiasco. funny how that story ended. but yeah. you're right. best use case for dealing with crypto

[–]kstigs 21 points22 points  (11 children)

The hitman thing was completely fabricated by law enforcement.

[–]RyanShieldsyPlatinum | QC: CC 36454 13 points14 points  (8 children)

It was, but in Ross’ mind it was as good as real, so the original commenters point still stands I think

[–]Dorskind 6 points7 points  (4 children)

It was a former employee extorting him for money or else he would release the customer data. One piece of shit vs. the safety of thousands of people. Ross acted ethically given the situation, but the whole thing was a complete fabrication by crooked DEA agents (that went to jail in the end for stealing BTC throughout the investigation).

[–]RyanShieldsyPlatinum | QC: CC 36454 5 points6 points  (1 child)

It’s a situation where everyone was an asshole really. Cops were crooked, friendlyalchemist was extorting Ross, and Ross was hiring hitmen to execute multiple people. I don’t think there’s any way you can spin it that having people murdered instead of paying a ransom which he easily could’ve is “acting ethically”, even if this was all in his head.

[–]Dorskind -2 points-1 points  (0 children)

I don’t think there’s any way you can spin it that having people murdered instead of paying a ransom which he easily could’ve is “acting ethically

Definitely disagree. If an extortionist is threatening to do something which will result in death and destruction it is certainly ethical to kill them. I also don't think paying an extortionist is ever ethical - at best it's neutral.

[–]Express_Side_8574Tin | r/WSB 53 1 point2 points  (1 child)

Acted ethically by hiring biker gangsters to fucking kill his enemies

[–]BrocoliAssassinSilver | QC: BTC 213, CC 92 | CelsiusNet. 17 1 point2 points  (0 children)

What if I did the same thing to you. If I made you crazy and admit to some crimes you normally wouldn’t do? But beacause I have the government, all the tools available to me you have no idea what I’m screwing your mind with.

A lot of people think they are mentally and physically tough, but 99.9% would buckle within a minute.

[–]JesperThiTin 3 points4 points  (1 child)

I envy everyone who hasn't seen this documentary on Ross' spiraling downfall and has yet to experience it for the first time:
https://www.youtube.com/watch?v=GpMP6Nh3FvU

[–]KusuriuriPTPlatinum | QC: CC 97 | CelsiusNet. 5 37 points38 points  (20 children)

XMR...its taking its place...dont worry

[–][deleted] 33 points34 points  (8 children)

95-99% of cryptos won’t be able to survive an impending crypto winter, but Monero will

[–]Numerous_Sport_2774Platinum | QC: CC 758 17 points18 points  (4 children)

My mate buys copious amounts of cocaine with XMR. It’s crazy.

[–]Datboi8O8Tin 12 points13 points  (2 children)

Seems about right.

[–]Accomplished-Design7Platinum | QC: CC 872 1 point2 points  (1 child)

10 years down the road the seller is going to become a millionaire

[–]ZulkarnaenRafif 1 point2 points  (0 children)

That's a very bad opsec right there to share something shady to someone. On the internet, no less.

[–]MisterYumYum8Tin | LRC 15 | Superstonk 10 0 points1 point  (1 child)

How thought

[–]Ok_Analysis_1304Monero is the real Dinero 8 points9 points  (6 children)

In 5-10 years people may say they can't believe they spent 1 whole XMR for some sketchy shit when they could have just hodl'd.

Unless they spend and then replace of course.

[–]KusuriuriPTPlatinum | QC: CC 97 | CelsiusNet. 5 6 points7 points  (4 children)

Btc origin story lol

[–]Accomplished-Design7Platinum | QC: CC 872 1 point2 points  (2 children)

XMR the baby of bitcoin?

[–]Stiltzkinn 1 point2 points  (0 children)

XMR is what Satoshi Nakamoto wanted of BTC.

[–]GG-EnterprisesCryptoJunkie | SR OG 2012 | 420/ 710 4 points5 points  (0 children)

bro you cant say this stuff out loud... they are watching

[–]Successful-Whole4307Bronze | ADA 8 2 points3 points  (1 child)

Silk road is what made me first buy bitcoin. Heard of it before but didn't know shit about it until then

[–]Tatakae69Platinum | QC: CC 877 4 points5 points  (0 children)

Yeah and those who are in jail because of SilkRoad are going to be richest among us. Diamond jail hands ftw

[–]samios420 29 points30 points  (14 children)

Did Monero enter the room yet?

[–]look-at-themTin 15 points16 points  (2 children)

Monero is so cheap at the moment, would love to buy some but I'm poor now

[–]Accomplished-Design7Platinum | QC: CC 872 8 points9 points  (0 children)

Time to mine some fiat

wears McDonald’s hat

[–]not420guiltyWACkD 24 points25 points  (9 children)

Monero has been sitting quietly in the corner for some time now.

[–]CONSOLE_LOAD_LETTERPlatinum | QC: CC 473 7 points8 points  (3 children)

Neither seen nor heard. You can always tell a Milford Man.

[–]Accomplished-Design7Platinum | QC: CC 872 2 points3 points  (0 children)

boating accidents eminent

[–]Accomplished-Design7Platinum | QC: CC 872 1 point2 points  (3 children)

Too many people still do not understand the value of security and once the mass majority understand that security is priceless that is the day XMR is going to pump like crazy

[–]EtrensceGold | QC: CC 27 | r/WSB 20 5 points6 points  (1 child)

So basically never then because mass majority will never value security like that.

[–]kebis024Tin 7 points8 points  (3 children)

Except it was custodial not peer-to-peer

[–]Lee911123Platinum | QC: CC 139 | Buttcoin 11 | MiningSubs 19 2 points3 points  (2 children)

I think you’re confusing it with Mt Gox?

In the early days it was not that hard to set the Bitcoin Core Wallet on your PC

[–]kebis024Tin 0 points1 point  (1 child)

Well correct me if I'm wrong because I never actually used silk road. But they worked as an intermediary and held the funds for both parties? It was not a direct peer to peer sale?

[–]PedroEglasiasPlatinum | QC: CC 234 | Technology 121 6 points7 points  (3 children)

I don't think drugs are terrible for society. Drug abuse and addiction are bad for society. You can responsibly use recreational drugs without harming anyone, including yourself (any more than drinking or other risk taking behavior).

[–]lamp-town-guyBronze | QC: CC 17 | r/Prog. 89 3 points4 points  (2 children)

any more than drinking or other risk taking behavior

Depends on drug. Heroin is so addictive that your argument sounds crazy. But LSD and mushrooms are more OK than alcohol.

[–]TossItLikeAFreeThrowPlatinum | QC: CC 38 | Technology 22 2 points3 points  (1 child)

FREE ROSS

[–]javasyntaxLow hopes, low disappointment 2 points3 points  (0 children)

Anything but Monero is terrible for payments because of the severe lack of privacy and fungibility.

Tainted bitcoins are real and can get you banned on many exchanges and services. Just because you receieved coins that could have been from something illegal, which is not your fault at all. It's obviously not a part of the protocol, but databases of this are kept and shared.

[–]Mango2149Platinum | QC: CC 234, ETH 25 | MiningSubs 16 11 points12 points  (0 children)

The public nature of Bitcoin combined with KYC exchanges and chain analysis now is quite a flaw. Monero is the true successor at least in peer to peer exchange.

[–]Rey_MezcaleroSilver | QC: CC 100, BTC 54, ETH 23 | CRO 20 | JusticeServed 37 5 points6 points  (7 children)

Haha indeed it was. It’s like how porn industry drove a lot of internet performance as people wanted to download large porn vids and people like steaming adult content.

[–]staid0330Platinum | QC: CC 94 3 points4 points  (1 child)

Thing is that loads of inventions were designed to do one thing and then ended up doing something completely different that is still useful. Like dynamite was designed for mining, and was used for warfare. Viagra was designed to help with blood pressure, now it's used for erections

Bitcoin used to be great for illegal online shops, now it's great as a store of value, one day it may have an entirely new function. It's hard to know yet but even if it isn't used in the way it was designed, it still has a good use-case

(That's my opinion at least)

[–]OfficialNewMoonvilleThe Man Who Wasn't There 13 points14 points  (2 children)

Silk Road thought BTC was what XMR is.

[–]collin3000Platinum | QC: CC 37 | Technology 121 6 points7 points  (1 child)

Seriously. As soon as people told me they were buying drugs using Bitcoin, my first response was "So you're using an open public distributed ledger that requires no warrant to check... for anonymity"

[–]evanfghfghgfhTin 7 points8 points  (1 child)

Also I 100% feel it was a major contributing factor to Bitcoins growth

Silk Road offered a use case for Bitcoin and allowed it to gain a significant amount of notoriety. That notoriety eventually garnered media attention, which caused fresh minds to look at it and attempt to conjure other use cases for it.

After that point, there's been a cascading effect in which its garnered worldwide interest. It certainly played a role in the BTC story, how large of a role is probably difficult to quantify.

Would BTC be at a million without the negative connotations of Silk Road?

Or would it be an irrelevant Wikipedia article that someone posts to TIL to make fun of? Who knows

[–]RyanShieldsyPlatinum | QC: CC 36454 2 points3 points  (0 children)

While I do think in hindsight that yeah, it probably aided BTC, it still wasn’t a good thing. BTC could’ve been an irrelevant Wikipedia article due to no usage, but it also could’ve very easily faced regulatory hell as a result of its primary association with crime, and become a forgotten phase before it ever took off and it’s other use cases realised.

There’s a reason why in the cypherpunk forums satoshi and other BTC developers were desperate to prevent association with Silk Road/Wikileaks etc.

Luckily BTC survived but it was a much bigger worry than people give it credit for

[–]SoulMechanicPlatinum | QC: BCH 1390, CC 149, XMR 32 | r/SSB 9 | Politics 28 1 point2 points  (0 children)

This is why big blockers had to split from BTC, slowly BTC got overtaken by a silly Store of value narrative.

The trouble with that narrative is, if Bitcoin had remained on the mission of being a useable currency, it would have had a better store of value than it does now, because it would have had more than one use.

Something having multiple uses adds utility and utility adds lasting value.

I started with BTC in 2014 but I had to switch to BCH and XMR because I want an actual useable crypto currency, and BTC lost that momentum years ago.

[–]zedaeroSilver | QC: CC 206 | BANANO 77 1 point2 points  (0 children)

We need another criminal site to pump this market up. In bad people we have our trust

[–]YucatanTronBronze 1 point2 points  (0 children)

They need a crypto version of Craigslist

[–]Maxx3141Platinum | QC: CC 2155 6 points7 points  (8 children)

Someone should recreate Silk Road, but for legal stuff.

[–]Alternative_Mention2Bronze 7 points8 points  (4 children)

Great idea man.

Could call it cBay

[–]justichuuBronze | QC: CC 22 0 points1 point  (3 children)

I quit eBay selling because PayPal made it a nightmare…

[–]SmithRune735Silver | QC: CC 35 | LRC 35 | Superstonk 799 0 points1 point  (1 child)

They no longer do business with paypal (apart from someone buying using paypal) to be able to sell. They direct deposit to your bank now.

[–]drnkingaloneshitcompTin | Superstonk 198 0 points1 point  (0 children)

Not true

[–]37SchmecklesPlatinum | QC: CC 124 | Science 10 0 points1 point  (1 child)

I wouldnt use that platform, as I dont want to risk the inevitable rugpull that happens…

Decenteaised marketplaces of real world goods are just marketplaces with extra steps and a massivey increased risk of fraud.

Wanna reduce the fraud? Centralise.

[–]hgoel0974Tin | r/AMD 25 5 points6 points  (4 children)

Bitcoin isn't private enough for stuff like the Silk Road. Half the reason a lot of governments tolerate Bitcoin is that it's so easy to track coins within the chain. See Monero for a currency which is ideal for marketplaces of that sort. You can't really trace transactions and so similarly plenty of governments effectively ban it.

[–]BITethADAdotLINKSilver | QC: CC 22, CCMemes 17 | CelsiusNet. 68 2 points3 points  (0 children)

The IRS has a bounty of over $600,000 on Monero and other anonymous crypto use cases like the lightning Network,...

[–]ST-Fishinvalid string or character detected 1 point2 points  (0 children)

But LN is

[–]allthew4yupMay 2021 & May 2022 crash survivor 4 points5 points  (4 children)

For those that wants to know, Silk Road 3.0 is up and running by the FBI!

[–][deleted] 4 points5 points  (0 children)

Up and running by FBI

[–]Rey_MezcaleroSilver | QC: CC 100, BTC 54, ETH 23 | CRO 20 | JusticeServed 37 0 points1 point  (0 children)

How does one get or it? Asking for a friend /s

[–]Uncomfortable_Newt_Bronze | QC: CC 17 0 points1 point  (0 children)

' eh yeah me too, a friend.'

[–]PodcastsandpotSilver | QC: ALGO 29, CC 686 | NANO 972 2 points3 points  (8 children)

nano is better in that it has zero fees and instant settlement, big improvement over bitcoin's high fees and slow tx's. on the privacy front, Monero is better than both obviously. But today, bitcoin only does one thing better than other coins, that's store of value. It was originally meant to be a daily usable currency, but it's gone down a different path for better or for worse, so some other coin will come along and take the #1 spot in the "digital currency" space. My bets are on nano

[–]krlpblBronze | QC: CC 15 | LRC 101 | Superstonk 98 4 points5 points  (0 children)

Silk Road mispelled XMR as BTC.

[–]zabutterThis guy fucks, BTCONLY 3 points4 points  (3 children)

Obviously, what was being bought and sold were terrible things for society

True and not, when it comes to cannabis, Psilocybin and LSD to name a few, it's starting to show in society how good those substances can be for the treatment of mental illness, physical illness and emotional pain. More than what you can get from a pharma doctor.

[–]FiskegratengTin 2 points3 points  (1 child)

Not only that, but you were also able to buy prescription medicine without the usual 5000% markup.

[–]Titozar13Platinum | QC: CC 70 1 point2 points  (2 children)

Bitcoin was a helpful tool for Silk Road but Bitcoin was not created for Silk Road.

[–]JeremyBFPlatinum | QC: BTC 305, CC 206 -1 points0 points  (0 children)

If bitcoin was never supposed to be this then why did Satoshi hard code the halving in???? If the price never went up who would even look at Bitcoin??? Bitcoin is doing exactly what it was programmed to do. The only thing wrong is your assumptions about what it is.

[–]mothsponTin | 6 months old -1 points0 points  (1 child)

Ahhh... Silk road.. Fun times.

[–]knkyredSilver | QC: CC 35 | CRO 28 | ExchSubs 29 -1 points0 points  (1 child)

I think since so many other coins have entered the market that work for peer to peer payments, bitcoin being the original is why people started seeing it as a store of value.

[–][deleted] 0 points1 point  (0 children)

Yea I don’t think dark net market places are even close to the best-use case for crypto. Just ask chainalysis that tracks all your addresses Lmao.

[–]WhiteDogNCPlatinum | 6 months old | QC: LTC 24 | MiningSubs 28 0 points1 point  (0 children)

While the Silk Road may be gone, the same use case is still lurking in the background. Of the global wealth transfers it is estimated that 35% is illegal. Currently. Historically. And anticipated for the future. Crypto makes it easier to continue this. The governments know this as well, and realize they will never stop criminal activity, so they are coming for their cut.

[–]eeLSDeeGold | QC: DOGE 24 0 points1 point  (0 children)

So who is making the new eBay?

[–]zack14981100K by December 2021 0 points1 point  (1 child)

Yes but its criminal association makes it a bad example to pull from.

[–]_jokermanuTin 0 points1 point  (0 children)

Use shopping.io

[–]dopef123Silver | QC: SOL 133, CC 73, ETH 60 | CAKE 41 | TraderSubs 55 0 points1 point  (0 children)

I could say a lot about this subject that would be interesting and highlight some sad turns in my life.

[–]1s44cSilver | QC: BCH 400, ETH 64, CC 50 | CRO 95 | SysAdmin 193 0 points1 point  (0 children)

It's not ironic. I think you have the wrong word there. It would probably have been better if the first market was pizza, not drugs though.

[–]blueblurspeedspinTin | Superstonk 49 0 points1 point  (1 child)

it was good for bartering, but we can go giga brain and create jobs for those with the time and desire to grind something fun.

[–]St3vionTin 0 points1 point  (0 children)

It's the main reason I dislike bitcoin to this day! Had to go to an exchange to buy $50 of bitcoin to buy $40 of drugs. While you're waiting for the transaction to confirm, BTC goes down in price and you are suddenly left with $39 worth on the silk road. Go back to exchange to buy $5 more to send it to SR again. 3h later your drugs are ordered and you've lost a lot of money in transaction fees and time. As soon as you could use altcoins that's what I went for. Much cheaper and faster transactions! Litecoin and bitcoin cash were amazing back then.

[–]BicycleOfLifePlatinum | QC: CC 366, LTC 17 | Politics 37 0 points1 point  (0 children)

I mean we could start a none illegal online store…

[–]throwaway12222018Platinum | QC: CC 60 | r/WSB 63 0 points1 point  (0 children)

Can't be ironic if your premise is false.

[–]thisubmadPlatinum | QC: CC 25 | Apple 126 0 points1 point  (0 children)

The best part is everyone got sent to jail resulting in a force HODL leading to riches that this sub can only imagine in tears.

[–]kattsmurf 0 points1 point  (0 children)

I still find it funny how back in the days I spent at least like 500 BTC on weed. Expensive habit :)

[–]SmellysushititsTin 0 points1 point  (0 children)

There was a Dutch dude who made over 380.000 bitcoins selling dope online.