In this episode, I discuss the recent decision by an appellate court to affirm the life sentence without possibility of parole for Ross Ulbricht, the founder of Silk Road. Silk Road was an online marketplace that operated using Tor (a browser designed for anonymity) with transactions conducted in bitcoin, a cryptocurrency. I discuss some details of the Silk Road case and why governments are powerless to control similar online marketplaces. I also discuss the recent run up in bitcoin prices. While I am not bullish on bitcoin at the current prices, I am bullish on the cryptocurrency market as a whole. I have been looking for a way to buy exposure to the whole market; Bit20 (link below) looks like a solid way to buy a basket of cryptocurrencies with one asset.

Suggesting Reading/Referenced Articles:
“Silk Road Creator Ross Ulbricht Loses His Life Sentence Appeal” – Wired
“United States v. Ulbricht, Court of Appeals for the Second Circuit” (court opinion) – Court Listener
“The Untold Story of Silk Road, Part 1” – Wired
“The Untold Story of Silk Road, Part 2” – Wired
Tor Project: Anonymity Online
“Dark Net Markets List – (Tor & I2P)” – Deep.Dot.Web
“Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto – Bitcoin.org
“What is Bitcoin?” – Coindesk
“What is Blockchain Technology?” – Coindesk
Bitcoin Price Chart – Coindesk
Bit20: The leading cryptocurrency index fund
BitShares OpenLedger
“What if the bitcoin bubble bursts?” – The Economist

Episode 52 – Silk Road and Bitcoin