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OpenBazaar, Born of an Effort To Build the Next Silk Road, Raises $1 Million
Patrick O'Neill writes: After the fall of Silk Road, Amir Taaki built DarkMarket in an effort to offer a decentralized and "untouchable" market alternative. That's grown into OpenBazaar, a "censorship-resistant" protocol that just raised $1 million from venture capital firms Union Square Ventures and Andreessen Horowitz, as well as angel investor William Mougayar through the company OB1, which will now do core development on the software.
It'll probably be about as a well received by authorities as PGP was back in the 1990s. Doesn't mean that it's not an important evolution of the way that ecommerce could work.
Except it will stop working when the people end-to-end never convert the cryptocurrencies into regular fiat currency.
Get free satoshi (Bitcoin) and Dogecoins
It will stop once they realize that all crypto currencies are in fact traceable via their block chain. It will be mitigated by washing services, but you'll find governments eventually regulating those out of business.
Agent K: A *person* is smart. People are dumb, stupid, panicky animals, and you know it.
.... that all the stick-it-to-the-man trustafarians and right on student types who'll no doubt funded this will eventually wise up and realise the sort of desperately unpleasent people and groups that make a profit out of places like silk road. We're not talking knock off DVDs here or a bit of pot there, this is mass market drug dealing. Just because its online doesn't make it ok.
I wonder just how many of these idiots could send a donation to a columbian drugs gang?
Fed3: Job Security (high five)
Come to Washington. All the pot sold in the legal recreational marijuana shops is grown here. Smoke all you want, no Mexican kingpin was enriched, and no innocent person shot.
The ONLY reason there is violence associated with the manufacture and distribution of pot in other places, is because it is illegal. That leaves the market only to criminals, and criminals use violence as part of their business plan. When was the last time the CEOs of Coors and Budweiser got in a shoot out with each other?
The problem with drug gangs could be eliminated immediately by legalizing drugs.
What changed under Obama? Nothing Good