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Just five weeks after the shutdown of the Silk Road and the arrest of the man who allegedly ran it, the world's most notorious Internet black marketplace for drugs and other contraband is back online. There's a new Dread Pirate Roberts (the pseudonym and title by which the site's administrator is known), and he has already made some serious changes to the site.
The news arrived via several avenues, most surprisingly from a public Twitter account that appears to genuinely belong to the new head of the Silk Road operation. It announced that the site was live at about noon ET and shortly after reported seeing 1,000 connections per second.
onequestion
reply to post by Magister
They could open it back up as a sting operation, maybe they are trying to figure out a way to trace bitcoins back to the original owner.
Those bitcoins are still owned by the owner, its about 5% of the market. Bitcoins are going to SOAR, im guessing 500 a coin in the near future.
However there are many alternatives, so i dont know.... are they using this to figure out how to shut bitcoins down? From my estimates of the daily volume of coins and the amount of coins used daily on the silk road, its only a very small percentage of the market.
underduck
reply to post by Magister
Exactly. I wont be touching it with a 911 ft pole.