Silk Road Goes Dark: Bitcoin Survives Its Biggest Market’s Demise

Marco Santori is a FinTech lawyer based in New York City where he leads the blockchain tech team at Cooley LLP.

In this latest edition of CoinDesk’s “Bitcoin Milestones” series, Santori discusses the downfall of the notorious bitcoin-powered dark market Silk Road in fall 2013, and the lasting impact this had on the technology’s perception and his practice.

milestones, eha

silk road, desert

I still kick myself for failing to buy a single item on Silk Road.

Yes, I’m a lawyer, and, yes, I’m a square. Yes, most of its wares exceeded my risk tolerance. Still, the Silk Road era was a rarified moment in history, and I was too busy warning people about money transmission to even buy a pair of alpaca socks.

In fairness to myself, it was still the early days – the summer of 2013. A bitcoin could be had for about a hundred US dollars. Things were simpler then. Ethereum didn’t exist. Nobody was talking about the legality of token sales.

I had just returned from a trip to Washington, DC, where, together with other members of the Bitcoin Foundation, we had the first multilateral meetings

Read more ... source: CoinDesk

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