Bitcoins: Falling, Falling, Falling


bitcoinsSilk Road existed as a way for those interested in purchasing just about any type of illegal drug without fear of being caught, its website tucked away safely (or so Ross William Ulbricht, better known as “Dread Pirate Roberts,” owner of Silk Road, thought) within the Tor network.

Bitcoins Are Just As Anonymous

Bitcoins were the method of payment required to conduct transactions on Silk Road, mostly due to the anonymity the currency provided. If you can't prove someone was shopping for drugs at a well hidden website, and there is no record whatsoever of anyone making such purchases, you can't get caught. Plain and simple.

The problem: Ulbricht was caught. Now, those who relied on the service to peddle their illegal wares are scrambling to sell those precious bitcoins, a way of wiping their hands clean before the FBI catches on, which leads to the decreased value of the virtual currency.

In a Reuters article, a security expert discusses the implications of an FBI investigation on the bitcoin market, pointing out that those who are using their bitcoins to conduct illegal transactions will be furiously trying to cover their tracks before their investigation into Ulbricht gets serious. They'll be checking all of Ulbricht's records, so will that lead them to the doors of drug dealers? That's the hope of the FBI.

What Will Become Of The Bitcoin?

While the value of the bitcoin is recovering somewhat, some experts believe the end of Silk Road means the end of the bitcoin. The site raked in 9.5 million bitcoins since 2011, spelled out in the charges against him, which is roughly $1.2 billion. Pretty amazing when you consider that there are only about 11.8 million bitcoins in circulation.

If people see that bitcoins aren't as anonymous as they once thought, when numerous arrests of drug dealers follow Ulbricht's, will they be as eager to collect and spend the currency?

Others feel this is the beginning of a bright future for the virtual currency. It stands to reason that when the illegal uses of bitcoins is shut down, people will begin to associate it in a more positive light. Without this ultimate in illegal activities associated with it, people will be more apt to see the good in the currency.

Wait And See

Whatever happens, this whole situation teaches people to look at bitcoins and the deep Web, in a whole new light. You aren't as anonymous as you think you are, so be careful what you're doing!

And with the ability to track criminals and their bitcoin spending habits, maybe more people will look at the currency as a legitimate thing. Only time will tell, after the dust settles with the arrest of Ulbricht and the arrests that are sure to follow.

Dedicated Server Company Now Accepting Bitcoins

A Southern California hosting company, Certified Hosting Solutions, is now accepting Bitcoins as a form of currency. This company offers clients cheap web hosting in the form of dedicated servers, and it is one of the very few to accept Bitcoin payment.

In case you're not familiar with Bitcoins, this form of currency is completely unregulated. But, it also has an estimated value of $600 million. In short, it's a form of currency that cheap web hosting companies like Certified Hosting Solutions can't miss out on.

Offering Clients Securitymoney Bitcoins

Security and privacy is a big deal to some site owners. In some cases, privacy is really important. That's why Bitcoins are the perfect currency. Bitcoins aren't linked to a bank account like regular currency is. Instead, Bitcoins are linked to a string of numbers that is virtually untraceable.

So, if you wanted to, hypothetically, set up an adult hosting site and use Bitcoins to do so (for privacy purposes), a site like Certified Hosting Solutions can make that happen. But, first you'll have to get some Bitcoins. This article can help you figure out how to get those coins, and how to make them work for you.

Visit Certified Hosting Now >>

Other Sites Accepting Bitcoins

Very few hosting companies now accept Bitcoins, but some certainly do. Those that are taking this form of currency include the aforementioned site; BTC Web Host; TizzyTazzy; Bits For Coins; and a few others. If you have Bitcoins and want to use them, pick one of these cheap hosting solutions.

Most of the hosting sites listed above also allow any kind of site setup. No matter what kind of site you want to create, most of the sites listed above will allow you free reign over topics and ideas. Just make sure not to get on the government censorship list, or to violate any listed rules clearly indicated by the hosting company. Otherwise, your site might be shut down, and Bitcoins won't help you out of that situation!

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