The Silk Road is an online marketplace specifically designed for cryptography enthusiasts. The chattering classes will call it an Amazon for guns and dope, and surely those things are available, but you can bet most of the commentators have never actually been to the Silk Road. It’s notoriously difficult to get to. But one thing I know about cryptography enthusiasts is that they don’t just want their illicit activity to be anonymous, they encrypt everything. So, don’t be surprised if you can also buy an argyle sweater or the complete works of George Romero on the Silk Road. But if you listen to the uninformed chattering classes recently you might be led to believe that the Silk Road is in crisis.
Anyway the software costs $20 (I BROUGHT THE PRICE DOWN JUST TO SATISFY THOSE CLAMORING THAT THE PRICE IS TOO HIGH,I WILL INCREASE IT AFTER 30 DOWNLOADS…) only and payment is made via Liberty Reserve.
Yesterday, while a number of banks were closed, bitcoin decided to break another major psychological barrier, and is now trading at above $100 USD per coin. At the moment, bitcoin superstar seriös is trading at $118 USD/BTC. There is very little resistance to further price increases, so expect the price of bitcoin to rise very rapidly over the next few weeks. These are also record highs for the currency. You can watch the price of bitcoin rise and fall here, as well as see what the record books for asks and bids are, which will help you determine how easily it would be to move the price to a certain point.
This is a good question. Mark Dines a few years ago couldn’t sell a $1200 one ounce Canadian Gold Maple Leaf coin for $50, then $25, and finally could not give it away to people passing by on the street.
Always one to try to understand the relation of economics and politics, I asked our Argentine contact what life was like for the average Argentinian in Buenos Aires. She related how expensive it was for the average person to purchase imported items. This resulted from their most recent economic crisis of 2001-2002. When I mentioned traveling overseas, she looked at me cross-eyed. There was no way this was possible for her without saving for quite some time.
12/18: The Heartland Poker Tour’s newest commentator, Pro Player Maria Ho is our guest in the first half of the show. In the second half Bernard will be answering the many questions submitted by listeners of his show. [Visit Website] [Download MP3].
In July of 2001, Standard and Poor’s (S&P) cut the credit rating of Argentina. S&P did the same thing to the U.S. rating 10 years later (2011). There was uproar in the halls of Congress about this even though arguably, the lower credit rating could have come much sooner. To make matters worse, U.S. credit agencies granted pristine ratings to mortgage-backed securities in their heyday. Fitch, another credit agency, is warning of further action against the U.S. this year.
Try to keep your mind on your funds. Bitcoins are baffling in that they are wildly straightforward to use and mine. Speculators, then, would possibly be able to throw hundreds of machines at the problem and compile bitcoins like raindrops, right? Incorrect. As much more bitcoins are found, they become even more difficult to find.