Bitcoin's surroundings are in a cyclone in the last few days.Common negligence and flaws seem to be a joke, which has penetrated this so-called "Dread Piret Roberts" Ross Ulbrikt.As the sole proprietor of Silk Road in the black market market, Ulbrick has probably stumbled on the use of virtual currency in darkness: people will use to buy their drugs, weapons and other items of suspicious merit.
Price
It probably created a black cloud on BTC world. The trader's idea is clear: The illicit use invisibility of bitcoin, like Silk Road, has actually stopped a reaction.One of these special events is that that was seen from April when a spectacular run of Bitcoin pricing came up with a major disruption for the currency's biggest exchange, MT. Gox
The price of seven days in April when MT Gox off due to trade engine lag and a DDoS attack. Source: CEO Desak Bitcoin Prices Index
This week's price was a huge drop experience due to Silk Road closure. Source: Kendeksche Bitcoin Price IndexBased on Bitcoin Price Index Data, due to metropolitan reasons the cumulative drop-back in April Gox's interrupted price decreases by a 70%, from April 9 to $ 68 at the lowest of $ 230 to the highest of $ 68. 35 April 16.By comparison, Silk Road's shutdown was a comparatively stable closure price of $ 205, which exceeded 20%. 49 October 1 99 dollars 81 October 2The current price has become back-up trend, suggesting that MT The Gox shutdown was probably more chaotic than all these recent events.
Transaction volume
Transaction volume continues for a long time, but there are times when Bitcoin is worth the money because people are going in currency currencies and outside.This is for a number of reasons, which recently the mining workers had expelled their Bitcoin from the market so that continuation of the construction of the hardware infrastructure and their growing operating margin were included.
The operating margins of the mining were reduced to hit the market in the commercial market. Source: BlockChain informationWhat is remarkable, however, when the silk road is closed, the transaction volume has also gone upwards. They actually drops in late September, since Copicat black market operator Atlantis has been closed. But the volume is displayed at a relatively normal level.
Daily 60 day graph of Bitcoin Transactions Although it became unstable and drops in late September, it is at a relatively normal level. Source: BlockChineseSettings
The United States government is owned by Bitcoin
It depends on a minute's market price, 365 Bitcoins on the block section on October 24, the danger of the block section on October 4, probably from the juice of Ultrint, but enough for holding a governmentIn fact, the current knowledge can suggest that a government body is running so much money that it can create the ability to create huge markets in the world of Bitcoin.
Sales sold on October 2nd, in 5 minutes, within five minutes, within five-minute range, sources in the purchase order pocket a bit: BitcoinchurchsThe power that you want to drive is not irrelevant now; This type of forced law can limit the liquidation immediately. However, the idea of a state-state, the majority of such a large majority of decentralized currency, is mostly due to a huge sale-off.The amazing thing is that the price of bitcoin has gone a bit backwards, even the market factor associated with the price value.
The story of Silk Road
While writing about Bitcoin in the mainstream media, there was probably a conventional convention that the Silk Road used to market the market on some of BTC's value.Or they may be harmed at any place that they can not make illegal transactions on the site.This has rejected this claim over the past few days, the one who has been associated with Bitcoin for a long time can clearly know now
It is still probably Mt. The biggest part of the Bitcoin exchange volume is Gox, which drives very much power. Source: Bitcoin ChartersTraders are doing well by providing bitcoin services that are not dependent on drug purchaseFor example, payment processor Coinbase made a payment of $ 15 million from May when Bitcoin was in excess of $ 100. And the initial exchange bitbanks had a 145 $ 145 build record of volume before the suspension of their system to rebuild the operation.In the Bitcoin economy, these two companies are doing business fairly with others every day, inappropriate ways.
When trading in BTC processor SYNABSE earned $ 15 million per month in the month, the price was above $ 100. Source: Kendeksche Bitcoin Price Index
Conclusion
Though it is difficult to predict what will happen with Bitcoin prices for long periods, but economics has already offered large bittakens enough to overcome this as a result of the Silk Road. .If the price is so much at this point, perhaps it can even see the general person that it has value as a protocol and payment method. Plus, it is always easy to get it from companies that follow regulatory compliance policies.And the Silk Road binding proposes that such a painful illegal activity has provoked fading from the beginning.Although Ulbricht would be willing to allow her liberal ideals to relieve him from the authorities, he was wrong. "But no one is beyond the FBI's reach. We will find you." Forbes one of the investigators defiantly show their attitude towards this degree of brashness.What are you thinking about the price of Bitcoin in the light of silk road closure? Is this currency validity or does it hit it during the time? What is the government thinking about the ownership of Bitcoin? Please let us know.
