Chapter
Drug and Sex Trade on Silk Road
51:11 - 53:02 (01:51)
The Silk Road, an illegal online marketplace, facilitated $1.2 billion worth of illegal drug transactions, causing concern over its use of Bitcoin currency. It is uncertain what percentage of Bitcoin transactions took place on Silk Road.
Clips
The DEA estimated that $1.2 billion worth of illegal drug transactions took place on the Silk Road, with $46 million accounting for marijuana, $17.4 million for cocaine and $8.9 million for heroin, at Bitcoin's then-time peak value of $80-$90 per Bitcoin.
51:11 - 52:19 (01:07)
Silk Road
Summary
The DEA estimated that $1.2 billion worth of illegal drug transactions took place on the Silk Road, with $46 million accounting for marijuana, $17.4 million for cocaine and $8.9 million for heroin, at Bitcoin's then-time peak value of $80-$90 per Bitcoin.
ChapterDrug and Sex Trade on Silk Road
EpisodeThe Story of Black Market Kingpin Ross Ulbricht + Sam Does an AMA
PodcastMy First Million
This podcast episode dives into the fascinating story of Silk Road and Mt.
52:19 - 53:02 (00:42)
Bitcoin
Summary
This podcast episode dives into the fascinating story of Silk Road and Mt. Gox, two of the biggest names in Bitcoin that were both brought down by illegal activities and questionable business practices.