Bitcoins: Currency of an Underground Society – The Deep Web
Every country has its currency a way to procure goods and services, that is backed by its central government. In the deep web, nothing is centralized to a specific state, country or continent so how do you perform these elicit trades? Easy, you create your own central currency that is untraceable and stored in the deep confines of The Deep Web itself. Welcome to the world of Bitcoins:
So how is it really working out for people? Just recently the first ever listing for a house in Canada wanting bitcoins was posted. ABC news has been reporting the value of bitcoins has increased from $40 to $72 ($76.14 as of this afternoon according to Preev) in the last 2 weeks alone. As shown in the video above, they have their own magazine. There are auction websites, conversion websites, real-time currency exchange websites, real-time transaction listings, and of course its own Wiki. So in short, it seems to be working out well for those involved so far.
Untraceable and unregulated by a central government has given Bitcoins both a good and bad reputation. Does this move the finance world towards a more central financial footing? Or are they simply a tool for the underground of the internet to buy and sell illegal goods without the extra steps of money laundering?
Nicholas Colas, chief market strategist at ConvergEx Group, a financial technology company in Manhattan. “The best-performing currency year-to-date has no home country, no central banker and no physical scrip,” Colas said.
Now that you have a form of currency, the next part part of this discussion will show you whats for sale in “The Deep Web”. Think of the wild west filled with Hunter S. Thompson. Imagine everything that was surely spouted by a Senator trying to describe the dark disaster that freedom of the internet would allow. Now that you have that in mind, trust me, there is more than you ever could have imagined.