SAN FRANCISCO The price of the bitcoin digital currency dropped on Wednesday, after U.S.law enforcement authorities shut down Silk Road, an online marketplace used to buy and sell illegal drugs.The bitcoin, valued by many for its anonymity, fell to $129 from over $140 a day before, according to a website for trading bitcoins, Mt.Gox.Earlier, the currency traded as low as $110.Supporters say using bitcoins offers benefits including lower fraud risk and increased privacy, though critics argue the anonymity it offers makes the currency a magnet for drug transactions, money-laundering and other illegal activities.The digital currency's drop came after the FBI arrested alleged Silk Road owner Ross William Ulbricht, 29, known as "Dread Pirate Roberts," on Tuesday in San Francisco.Silk Road allowed tech-savvy sellers to post ads for drugs and other illegal products, which they sold for bitcoins and shipped to customers through the mail, according to the federal criminal charges filed against Ulbricht.As well as Silk Road shoppers, drug traffickers who worried about the FBI tracking them down with data confiscated from Ulbricht may account for some of Wednesday's bitcoin selloff, said Garth Bruen, a security expert at Internet consumer group Digital Citizens Alliance.

"They're going to be pouring all over his records, getting subpoenas for every piece of data and account he has ever used and trying to figure out who all these different dealers are," said Bruen."People are jumping ship."WhileThe charges against Ulbricht said that Silk Road generated sales of more than 9.5 million bitcoins, roughly equivalent to $1.2 billion.There are currently about 11.8 million bitcoins in circulation.With Ulbricht's arrest, authorities said they seized $3.6 million worth of bitcoins.(Reportinglitecoin goes downby Noel Randewich; Editing by Leslie Adler) Our Standards: The Thomson Reuters Trust Principles Five London tower blocks evacuated over fire safety concerns LONDON Thousands of residents in a sprawling north London housing estate were forced to leave their apartments late on Friday after fire checks carried out in the wake of the deadly Grenfell Tower blaze found the buildings to be unsafe.doge to bitcoin

China's party paper trumpets U.N.rights resolution as combating West's monopoly BEIJING The West's monopoly on rights has been dealt a blow by the United Nations' decision to adopt a China-led resolution saying development promotes human rights, an editorial in the official paper of China's ruling Communist Party said on Saturday.Phones Laptops Cameras Tablets Headphones Smartwatches VR Headsets This is my NextI hate to be the one to break bad news to you, but most of the pop media/mainstream media financial pundits that I hear and see opine on bitcoin have absolutely no idea what the hell they are talking about.tỷ giá bitcoinThis article will be the piece that strips the pretense of knowledge away from all of those other "smart guy" media types.bitcoin order book depthSo, the answer to the question "Is Bitcoin risky?"litecoin rate exchange

The problem is that to an investor - whether retail, professional or institutional - that is not the question to ask.Let me pose a better question for you - "What is the risk-adjusted return of bitcoin relative to other major asset classes?"What is that you say?You haven't seen that question asked very much in the media, TV or web?The reason is two fold.First, let's be frank, many of these dudes are really amateurs with opinions and a publishing platform.Second, many of the guys who really do know what they are talking about from a financial, investment or macro perspective, truly don't understand what bitcoin is.ethereum casinoNo, it is not a currency.ethereum payment channelsIt is not a commodity.1 bitcoin to ltlIt's a protocol based value and consensus-based information network.bitcoin after silkroad

"B"itcoin is closer to the Internet than it is to a CFTC regulated commodity, even if the CFTC has regulated otherwise."b"itcoin, the first and earliest application built upon said network is a digital currency application, but because of its modern and unique features (scripting, immutability, self-contained transportation rails, self-contained auditing features, P2P, full autonomy, etc.)it is so much more than what the old school gus are used to referring as "Currency".Here is a video that I made almost 3 years ago on how to describe bitcoin and why it wasn't a bubble back then - still applies now... This can be taken very far, reference Pathogenic Finance...So, armed with this new education, you must ponder "What's up with the financial media?"Let's take a look, shall we?This dude didn't mention anything about networks, immutability, inherent transportation rails, programmability - anything!Could it be he really doesn't know what he's talking about?Armed with your possibly new found knowledge, I'll let you be the judge.

Next up, Time's Money Magazine... Waitaminute again!Is this guy measuring risk without reward?The answer is no.He's not even measuring risk, he's just noting fluctuations.I'll post this little homemade infographic to demonstrate how amateurish this attempt at an explanation is... Measuring risk without reward is meaningless.It's almost as meaningless as measuring reward without the risk taken to achieve it.Once you take an empirical (or more professional) view at bitcoin, you'll see that once adjusted for historical returns, bitcoin is actually less risky than the US stock market!Then there's that comment about there being no liquidity on the sell side.Hmmm.... Why don't the guys at Time Money and the Financial Times know this?Hey, it get's worse.Let's look at an article from some really smart guys.Remember what I said about smart sounding guys not knowing what the hell they are talking about?The London Business School (shame, shame, shame...): As you can see, this guy didn't do his high school math (yes, I teach my high school age son - 16 years old - this stuff).