How Bitcoin revolutionized the Dark Net in a decade

Originally created to function as electronic cash [enabling P2P transfers], Bitcoin became the world’s first cryptocurrency and is the most popular digital asset to this day. The financial system is rigged, and the entire world is gradually rising from a prolonged period of slumber. In fact, lawmakers have already begun to fear BTC’s dominance over traditional fiat currencies like the USD, the Yuan, INR, and so on.

Around 2 billion folks scattered around the globe aren’t familiar with financial agencies and don’t have access to a bank account. Nations like Venezuela, Zimbabwe, Greece have experienced hyperinflation, which caused salaries to decline drastically, and the common man keeps languishing in the dust.

Well, no more. Even though Bitcoin has recorded numerous ups and downs over the course of the past 10 years, mass adoption keeps climbing, especially in Thailand, Australia, Japan, South Korea, Germany, etc.

The Dark Net is essentially the part of the Internet that a select few thousands use for “nefarious purposes”. Illegal weapons, drugs, porn, can all be discovered at this gigantic treasure trove for hackers and crafty actors alike. Governments tend to brand this evolving hydra as “evil” [ministers serve as the backbone of corruption in India, the USA, Latin America, Africa, and so on] and keep begging citizens to stay away from the “dark place”.

Ross Ulbricht [who employed the pseudonym Dread Pirate Roberts] created the Silk Road in 2011. On this network, one could find psychedelics, opioids, and all sorts of narcotics that are branded as illegitimate in most countries. All transactions that took place on this platform involved the usage of Bitcoin [which is pseudonymous, thereby ensuring money transfers were much harder to track].

The Silk Road went offline in 2013 as a result of a successful investigation conducted by the FBI. Ross Ulbricht was arrested and has since been behind bars. Today, there are a dozen more websites that operate in a similar fashion. Monero is a privacy-centric cryptocurrency that is being used more often by buyers and sellers so as to ensure that anonymity never goes away.

Bitcoin’s arrival led to the creation of an alternative “decentralized” field of virtual currencies. To this day, it is the most sought-after crypto, being used by scores of criminals on the Dark Net.