Chapter
How Blockchain Helped Solve the Silk Road Case
16:44 - 22:18 (05:34)
Blockchain technology was essential in solving the Silk Road case as it enabled the authorities to obtain critical records and trace stolen Bitcoins, including those transferred to a bankrupt Japanese exchange, which uncovered evidence of a secret service agent's fraudulent activities and theft of 25,000 Bitcoins.
Clips
In this podcast, a simplified explanation of what a blockchain is in the context of Bitcoin is given, with the use of the example of a massive ledger that keeps track of ownership, but instead of a central entity, nodes all over the world do it instead.
16:44 - 18:10 (01:26)
Summary
In this podcast, a simplified explanation of what a blockchain is in the context of Bitcoin is given, with the use of the example of a massive ledger that keeps track of ownership, but instead of a central entity, nodes all over the world do it instead. The nodes are called miners, who work to secure the system that keeps track of this ownership in a decentralized not centrally controlled way.
ChapterHow Blockchain Helped Solve the Silk Road Case
Episode#499: Katie Haun on the Dark Web, Gangs, Investigating Bitcoin, and The New Magic of "Nifties" (NFTs)
PodcastThe Tim Ferriss Show
A secret service agent on detail to the NSA who was an expert in encryption technology stole 25,000 Bitcoin from Ross Ulbricht of Silk Road and made it look like his right-hand man had done it.
18:10 - 22:18 (04:08)
Summary
A secret service agent on detail to the NSA who was an expert in encryption technology stole 25,000 Bitcoin from Ross Ulbricht of Silk Road and made it look like his right-hand man had done it. The blockchain technology was necessary to obtain records regarding this case, especially due to the fact that banks and financial entities attempted to cover up evidence of the crime.