Deadpirate Roberts Silkroad and Bitcoin

Rebelution Radio

Who is Ross Ulbricht? Is he Dread Pirate Roberts, the ringleader of a billion dollar Internet black market, as the prosecution claims. Or is he the quiet former Eagle Scout, who lived in a modest apartment with three roommates? That's what 12 men and women will have to decide in the federal case against Ulbricht, which started Jan. 13 in New York City. FORBES will be at the courthouse each step of the way, with updates posted on this page as they're published. Read up on all of FORBES' coverage of the case below. Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures. Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value. Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange. Joining us tonight will be https://twitter.com/01101O10 @01101O10 Let's learn about Bitcoin and SilkRoad!