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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.
This is why governments have such hard-ons for alternative currencies. At some point, in order to profit from your schemes, you have to turn your activity into currency, and that's how they can nail you.
Except it will stop working when the people end-to-end never convert the cryptocurrencies into regular fiat currency.
This is why governments have such hard-ons for alternative currencies. Try reading before replying. This is why they fight them. So far they always succeed. Only small-scale alternative currencies are ever allowed to persist. Bitcoin can never go mainstream because it is a PITA, and they will keep it a PITA so that it never goes mainstream. Same for any other alt currency. I presume the system will break down eventually, but for the foreseeable future, it's not going to work like that.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"