A later, Silk Road Returns; Is Bitcoin in Bed with Bad Guys month?

A later, Silk Road Returns; Is Bitcoin in Bed with Bad Guys month?

A typical sales page from the original Silk Road, now reconstructed; the site sells unlawful drugs, tools, and much more.

Just one after the FBI seized and shut down Silk Road the Internet site known as the Amazon.com of drugs, weapons and worse it’s back month. Yup, in the annals of criminal history, this one has to be up there in the chutzpah department; it’s such as the abilities behind the website are totally thumbing their collective noses at U.S. authorities that are federal.

Are Bitcoins and Silk Road Founders Aligned?

Even more shocking, new allegations tie Silk Road’s founder Ross William Ulbricht aka Dread Pirate Roberts until their FBI takedown final thirty days towards the still publicly unidentified original creator of Bitcoins, the digital money solely utilized to pay for illegal items and services on the old and now new site.

The allegations stumbled on light after two Israeli boffins one a cryptographer readied a soon-to-be-published paper that claims that the FBI seizure in fact just got their fingers on approximately 22 percent of the $80 million in commissions Ulbricht’s site had garnered from sales of an estimated $1.2 billion; sales on everything including assault weapons to illegal narcotics of any kind and also for hit men services for hire.

Dorit Ron and Adi Shamir are the two researchers that have brought these allegations to light, incorporating they by themselves have actually only been able to trace one-third of the total commissions the site pulled in.

Nevertheless the tale gets even more fascinating; the two boffins have actually also been buying feasible connection between Ulbricht and ‘Satoshi Nakamoto’, the shrouded and never-seen creator of the Bitcoin electronic currency exclusively used on the illegal web site, largely due to its relative untraceability, since it is perhaps not tied in to any banking system that is central. Bitcoins’ value is completely determined by market demand, and lately, that need has been curiously skyrocketing, with one Bitcoin being valued at over $800 and climbing recently. Just What does it all soon add up to?

Connecting the Dots

The two Israelis have been able to trace some paths back and now have made some connections between Silk Road and Bitcoins that are more than simply business usage. They have been able to do so because even though real marketplace participants may present anonymously, the transactions themselves are totally public. After getting their on the job a whole listing of all the Bitcoin transactions made this year, the set created their very own graph so they could monitor statistically how users interacted on the Silk path site.

The scientists uncovered a single transfer log that followed Bitcoins deposited into an account now known to be Ulbricht’s in doing this extensive research. That deposit stemmed from another account, developed in January 2009, which placed the latter at early Bitcoin network time; it had all just gone public per year prior. Even though the Israelis state they can not definitively prove that that early Bitcoin account was ‘Nakamoto’s’, there is good explanation to think it very perhaps could indicate an ‘investment’ of sorts in the 1st Silk path site. Does this aspect up to a dark connection between Silk Road and Bitcoins?

It might. Another compelling bit of data uncovered by the Israelis had been a 1,000 Bitcoin transfer made in March of this year. That amount would have translated to about $60,000; but with the current insane value surge in the cryptocurrency, it’s now about $847,000 worth at the time of transfer.

‘Such a solitary transfer that is large not represent the conventional behavior of a customer whom starts a free account on Silk Road so that you can purchase some narcotics (such purchasers are anticipated to create a short deposit of tens or hundreds of dollars, also to top the account down whenever they buy additional product). It might represent either activity that is large-scale Silk Road, or some kind of investment or partnership, but this is pure speculation,’ note the scientists.

Even more damning is that the depositor that is unidentified had some 77,600 Bitcoins apparently obtained through ‘mining’ operations; that amount would now equal about $64 million in U.S. currency.

‘ The path that is short found suggests (but does not prove) the presence of a surprising link between the 2 mystical figures of the Bitcoin community, Satoshi Nakamoto and DPR,’ wrote Ron and Shamir. ‘DPR’ refers to Ulbrict’s Silk path code title, Dread Pirate Roberts.

In a few methods, it turns out that Bitcoins’ perennial claim that it exists beyond the long supply of the law has proved to be correct. The scientists state the cryptographic design and veiled movement of this currency causes it to be much more difficult for law enforcement to seize it than, say, a drug dealer’s stash of thousands hidden in a house. The duo also speculate that there could have been a 2nd up to now computer that is undiscovered towards the Silk Road founder that the FBI hasn’t yet had the opportunity to track down.

Therefore far, the feds, not surprisingly, don’t have any comment on any of it. And in case we know anything about anything, someone is in a production meeting in Hollywood appropriate now, casting ‘The Long and Winding Silk path’ for a new cable series.

Silk Path 2.0: How Were They Able To Get a Revised Web Site Up Therefore Right After Power Down?

How could a high-profile, illegal website seized by the Feds be up and operating again a month later? Evidently, where there’s a will, there’s a way. A few billion bucks at stake does winner live casino app not hurt either.

It took hardly a minute, it seems, for the anonymous previously active Silk Road user to email top that is former about the intention to get the site alive once again. A forum called the ‘Vendor Roundtable’ had been created, as well as on it, the framework for recreating the illicit website began.

The forum’s admin even put up a ‘Help Wanted’ ad for the ‘communication specialist’ someone who would oversee and coordinate the different pieces components regarding the rebuilding process. ‘You will be assigned work to perform predicated on what has to be done,’ see the cryptic ad; no reference to what kind of money was included, apparently.

And therefore, final week, voilà! Silk Road 2.0 showed up; the only difference had been in its absence, some competitive internet sites had cropped up to fill the void, all run on the secretive Thor server. Like its predecessor, this new Silk path is a cornucopia of unlawful goods and services, from heroin to hit men.

‘Silk Road was something that had popularity,’ an anonymous and shrouded user told CNNMoney in a TV interview where also his voice was disguised. ‘That made it simple for individuals to continue down that path. As long as you are able to persuade the bulk of the greatest buyers and sellers to go over to the new platform, no matter what it’s called.’

Word on the street is that in this revised version, information protection will be more closely guarded and certainly will even be ‘baked’ into codes. The FBI did crack the last site, so whether or not they are able to do therefore on Silk Road 2.0, remains to be seen. FBI Special Agent Christopher Tarbel who helped break the initial site did say that Silk Road in its original structure was perhaps the biggest and most sophisticated criminal marketplace on the web today.

Massachusetts State Gambling Commission Hears Revere Casino Plan

Boston defeated, but Revere approved, a Suffolk Downs casino; now just what? (Image: Patrick Whittemore)

If you move a casino more than a town line, is it still the same casino? This is simply not a complex question that is philosophical but instead the problem dealing with Massachusetts state regulators right now, since well as both supporters and detractors of a casino at the Suffolk Downs racetrack.

Whose Border Can It Be, Anyhow?

If you’ve been following the news out of Massachusetts, you understand that East Boston voters soundly rejected a casino during the race track, while neighboring Revere easily approved the proposal that is same. Ever since then, Suffolk Downs and Revere officials have considered moving the project so that rather than straddling the town line on the East Boston part it could be located entirely inside of Revere’s city borders, where voters have already authorized it. But that seemingly simple concept has led to protests from East Boston officials and voters whom believed they’d shot down the casino for good.

The Massachusetts Gambling Commission took testimony and information in from all edges later a week ago and there was a good amount of debate between advocates on both sides. Plus the choice was ambiguous enough that the commission decided that they will further study all aspects of the votes before proceeding, including the host agreements, the wording associated with the ballot questions, and the laws that allow for casino gambling in the state.

Among the players that are major the meeting, naturally, ended up being Revere Mayor Dan Rizzo. He revealed up to the commission in person to argue that the host agreement finalized by Revere anticipated the possibility that some or every one of the casino’s development could occur in their city.

The language that is key from a passage in the host community agreement related to the potential for expansion of the Suffolk Downs casino. It claims that when Suffolk Downs ‘seeks to expand its gaming establishment onto the Revere property,’ the track owners will need to ‘promptly inform the populous town and the parties shall negotiate in good faith an amendment to this agreement.’

Rizzo and other politicians representing Revere state that this passage provides the town an avenue with which to negotiate a casino that is new entirely on land inside of Revere proper.

But opponents from East Boston say that this is ridiculous. They say that the language shows that Revere wasn’t expecting an entire casino to be found on their land, and point to another passage that seems to clearly show that the standing agreements only apply to the East Boston proposal.

‘ As planned, the project is constructed within the municipal boundaries of the city of Boston,’ the Revere host agreement states.

Revere voted in favor of the Suffolk Downs casino, with about 60 percent of voters approving it. While Mayor Rizzo says that an all-Revere casino would have gotten even more votes, Boston officials say that still does not mean that a vote in the East Boston proposal equates to approval for a casino that is revere-based.

‘Voters in East Boston decisively voted ‘No’ to a casino at Suffolk Downs. Because of that, voters in Revere approved a proposal that is no longer viable,’ a statement from Boston officials declared.

Almost no Time to Waste

There’s no timetable for when the gambling commission will come back having a decision on the case, although the decision will likely come before the year-end deadline for publishing casino applications to the state.

Meanwhile, Revere and Suffolk Downs are hoping that the potential deal with the Mohegan Sun could bolster their chances of having their new plan approved. While no announcement that is official been made, Mayor Rizzo has said that he thinks a partnership could be imminent, maybe happening as early as this week. If it happens, Mohegan Sun will step right into a partnership voided by Caesars Entertainment, whenever that company bailed following allegations of third-party associations with A russian mob figure by the Massachusetts Gaming Commission.