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A Month Later, Silk Path Returns; Is Bitcoin during intercourse with Crooks?

An average sales web page through the initial Silk Road, now reconstructed; the site sells unlawful drugs, weapons, and much more.

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

Are Bitcoins and Silk Road Founders Aligned?

Even more shocking, new allegations connect Silk Road’s founder Ross William Ulbricht aka Dread Pirate Roberts until his FBI takedown final month towards the still publicly unidentified initial creator of Bitcoins, the digital money solely utilized to fund illegal products and services on the old and now new site.

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

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

However the tale gets a lot more fascinating; the two researchers have actually also been buying a possible connection between Ulbricht and ‘Satoshi Nakamoto’, the shrouded and never-seen creator of the Bitcoin electronic currency exclusively utilized on the unlawful web site, mostly due to its relative untraceability, since it is maybe not tied in to virtually any banking system that is central. Bitcoins’ value is totally determined by market demand, and lately, that demand has been curiously skyrocketing, with one Bitcoin being respected at over $800 and climbing recently. What does it all 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’ve been in a position to do so because even though the marketplace that is actual may present anonymously, the transactions themselves are totally public. The pair created their own graph so they could track statistically how users interacted on the Silk Road site after getting their hands on a complete listing of all the Bitcoin transactions made this year.

In this way considerable research, the scientists uncovered just one transfer log that followed Bitcoins deposited into an account now known become Ulbricht’s. That deposit stemmed from another account, created in 2009, which placed the latter at early Bitcoin network time; it had all only gone public a year prior january. Even though the Israelis state they can not definitively prove that that early Bitcoin account was ‘Nakamoto’s’, there is good reason to believe it very perhaps could indicate an ‘investment’ of sorts in the 1st Silk path site. Does this point to a dark connection between Silk Road and Bitcoins?

It may. Another compelling piece 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 single large transfer does not represent the normal behavior of a buyer whom opens a free account on Silk Road so that you can purchase some narcotics (such purchasers are expected in order to make a preliminary deposit of tens or hundreds of dollars, and to top the account down whenever they buy additional merchandise). It may represent either large-scale activity on Silk path, or some type of investment or partnership, but this is pure speculation,’ note the researchers.

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

‘ The short course we found suggests (but does not show) the existence 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 Road code title, Dread Pirate Roberts.

In certain ways, it turns out that Bitcoins’ perennial claim so it exists beyond the arm that is long of law has proved to be correct. The boffins state the cryptographic design and veiled movement for the currency helps it be even more difficult for police to seize it than, say, a drug dealer’s stash of thousands hidden in a home. The duo also speculate that there might have been a second as yet computer that is undiscovered to your Silk Road founder that the FBI has not yet had the opportunity to find.

So far, the feds, not interestingly, have no touch upon some of it. And if we know anything about anything, someone is in a production meeting in Hollywood right now, casting ‘The Long and Winding Silk path’ for the cable series that is new.

Silk Road 2.0: How Were They In A Position To Get a Revised Site Up Therefore Soon After Turn Off?

How could a high-profile, illegal website seized by the Feds be up and operating again a month later? Evidently, where there is a will, there’s a means. A few billion bucks at stake doesn’t harm either.

It took barely a minute, it seems, for an anonymous previously active Silk Road user to email former top users about the intention to have the site alive once again. A forum called the ‘Vendor Roundtable’ ended up being created, as well as on it, the framework for recreating the illicit site began.

The forum’s admin even put up a ‘Help Wanted’ ad for the ‘communication specialist’ https://real-money-casino.club/winner-online-casino/ a person who would oversee and coordinate the pieces that are various regarding the rebuilding process. ‘You will be assigned work to perform according to what has to be done,’ see the cryptic ad; no reference to what kind of money was involved, evidently.

And so, final week, voilà! Silk Road 2.0 showed up; the difference that is only in its absence, some competitive sites had cropped up to fill the void, all run using the secretive Thor server. The new Silk Road is a cornucopia of illegal goods and services, from heroin to hit men like its predecessor.

‘Silk Road was something which had appeal,’ a shrouded and anonymous user told CNNMoney in a TV interview where even his voice was disguised. ‘That made it easy for people to continue down that path. As long as you are able to persuade the bulk of the greatest buyers and sellers to move over to the latest platform, no matter what it’s called.’

Word in the street is the fact that in this revised version, information security will be more closely guarded and will also be ‘baked’ into codes. The FBI did crack the site that is last so whether or not they could do so 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 initial format ended up being perhaps the greatest and most sophisticated unlawful marketplace on the Internet today.

Massachusetts State Gambling Commission Hears Revere Casino Plan

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

It still the same casino if you move a casino over a city line, is? This isn’t a complex philosophical question, but alternatively the issue facing Massachusetts state regulators at this time, since well as both supporters and detractors of a casino at the Suffolk Downs racetrack.

Whose Edge Is It, Anyway?

If you’ve been following the news headlines out of Massachusetts, you know that East Boston voters soundly rejected a casino during the race track, while neighboring Revere easily approved the exact same proposal. Since then, Suffolk Downs and Revere officials have considered moving the project so that rather than straddling the city line in the East Boston side it could entirely be located inside of Revere’s city borders, where voters have already approved it. But that seemingly simple concept has resulted in protests from East Boston officials and voters who believed they had shot down the casino forever.

The Massachusetts Gambling Commission took testimony and information in from all edges week that is late last there was a good amount of debate between advocates on both edges. Plus the decision was unclear sufficient that the commission decided that they can further study all aspects of the votes before proceeding, including the host agreements, the wording of this ballot questions, and the laws that allow for casino gambling in the state.

One of the players that are major the meeting, naturally, was Revere Mayor Dan Rizzo. He showed as much as the commission in person to argue that the host agreement signed by Revere anticipated the possibility that some or most of the casino’s development could occur in their city.

The key language comes from a passage into the host community contract regarding the potential for expansion of the Suffolk Downs casino. It says that if Suffolk Downs ‘seeks to expand its gaming establishment onto the Revere home,’ the track owners will require to ‘promptly alert the populous town and the events shall negotiate in good faith an amendment to this agreement.’

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

But opponents from East Boston say that this is absurd. They say that the language shows that Revere wasn’t expecting a casino that is entire be located 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 would be constructed within the municipal boundaries of the populous town 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 nevertheless doesn’t mean that a vote regarding the East Boston proposition equates to approval for the 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.

Virtually no Time to Waste

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

Meanwhile, Revere and Suffolk Downs are hoping that the possible deal with the Mohegan Sun could bolster their chances of experiencing their new plan approved. While no official announcement has been made, Mayor Rizzo has said that he thinks a partnership could possibly be imminent, perhaps 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.