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"The Silk Road shutdown resulted in brief, but shallow sell off and subsequent rebounded within a few days. This event showed the world and governments that ill
by wtracy 13y ago
"The Silk Road shutdown resulted in brief, but shallow sell off and subsequent rebounded within a few days. This event showed the world and governments that illegal activities were a very small fraction of the transactions taking place on the bitcoin network."
I would say it showed that Silk Road was a small fraction of all BC transactions, but that still doesn't speak to the total amount of illegal activity going on BC.
That said, it does imply to me that either:
(1) The total percentage of BC transactions being used for illegal transactions really is low (as the article implies), or:
(2) The remaining entities using BC for illegal purposes are confident that what happened to the Silk Road won't happen to them.
- gcb0 13y agoNo matter how small it was, it was probably the largest money-bitcoin-money faction. Lots of people mine and trade coins. But only the few thousands (hundreds?) Silkroad users were actively pumping money constantly into the system, giving a much needed reality check of how much people will pay for a made up currency with established made up money.