The Phaserl


Thoughts on the Silk Road Raid, “Trolling” the FBI, and the Future of Bitcoin

by Michael Krieger, Liberty Blitzkrieg:

Before I get to the humorous FBI trolling story referenced in the title, I want to write a few overdue paragraphs about the whole Silk Road affair and the future of Bitcoin. The garbage that was being emanated from across the internet about what would become of Bitcoin in the wake of the news that the feds has arrested the founder of the Silk Road, Dread Pirate Roberts aka Ross Ulbricht, represented the height of ignorance. As soon as I heard the news, witnessed the price plunge and heard the hyperbole being spewed by commentators I tweeted:

The ignorance of people saying this is “game over” for Bitcoin is astounding. …and…

This is game over for the most successful online illegal drug market. It is not the end for Bitcoin. Other nations will take the lead on BTC.

I also said I’d be happy to take Bitcoin donations in light of their sudden so called “worthlessness,” and I told folks they could send some to LBK’s Bitcoin donation wallet. Unfortunately, no one took me up on the offer.

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