A number of recent news stories have tied the Bitcoin currency to drug purchases. The online currency had become popular among a lot of people out there, who were interested in the idea of deregulated currency. It could be exchanged for using any number of different currencies worldwide. But it has recently been discovered that many drug traders were using it to facilitate their purchases. This currency was appealing to many people, because they were largely untraceable. This allowed people to buy drugs on different black market operations online. Some are hoping that recent drug sting operations will curb the use of Bitcoins in this trade area.
The Silk Road
Notably, the FBI has recently shut down the popular Silk Road drug market that had been created online. This drug trade had been created by internet users who could create secretive identities that would prevent people from tracking their sales. Access to the Silk Road was restricted to only a few different types of traders out there. Once the FBI began to trail these users, they noticed that they were frequently using Bitcoins as the currency of choice for their purchases. This has caused many to wonder if this currency has been used elsewhere to help traffic drugs.
The Bitcoin currency has always been volatile, since it is not backed by any major country out there. It operates independently, so many have wondered whether it could remain stable for very long. Some people have also noticed that the value of Bitcoin currency has rapidly declined recently. This has coincided with the shutdown of the Silk Road drug operations. Not surprisingly, many people are concluding that much of the value of Bitcoin currency is tied to drug use and trade around the world. Many people will want to think about whether they will want to continue using this currency, since it has extensive ties to the drug trade.
The unclear future of Bitcoins
Many investors will be curious to see what happens to the value of Bitcoin currency in the future. Now that the FBI has shut down the Silk Road, there are many who will want to find whether there are any other major online drug trade operations. If these are shut down as well, it may further hurt the value of Bitcoin currency. Users may want to think about whether they can continue to use the Bitcoin if it declines in value like this for much longer. It may not last long if it relies too heavily on illegal drug trade to maintain its value.
If you know someone who has been affected by drug use, you may want to check out some drug rehabilitation options. There are many excellent online resources out there that can inform people about what they may want to do. Try to learn about some drug treatment centers in your area that may link you up with the right options for you. If you check out some of these options, you may be able to get the treatment you or your loved ones need to beat drug addiction.