AlphabayGoes Down Hansa Was Being Run By The Government Will Deep Web Markets Plunge Bitcoin?
Okay guys, just figured I'd make a quick video as this seems to be kind of breaking news and I've seen very little on Youtube or the internet in general about it.
Why is this relevant? Well it seems that when a dark web or deep web marketplace goes down oftentimes Bitcoin will dip a bit as well.
I believe it happenned way back with the Silk Road. More recently it dipped a bit when AlphaBay got shutdown, although obviously there were many more factors at play during that time such as August 1 uncertainty and other factors as well but none the less it dipped.
Now Hansa went down and not only that but apparently Europol and the Dutch Police were actually running the site for the past month since June 20, collecting info on vendors and customers.
If you aren't familiar or didn't see the stories about Alphabay check it out it's a fascinating story some 28 year old guy from Quebec was running it, was living the high life in Thailand with Lambos and Mansions and tens of millions in Bitcoins. He wound up getting arrested and wound up hanging himself in Jail.
Many of the customers and vendors from Alphabay wound up heading over to Hansa which apparently was some kind of sting operation. I'll link to an article which explains much more of this below...
If you're interested in the deep web and cryptocurrencies and dark markets you may want to check out AviLSD as well, another Youtuber who does a lot of videos on this topic. He is really the only one saying anything about this at this point, he did a live stream today I'll link to it below...
Anyhow, the point of this video is this. oftentimes after dark markets go down the price of Bitcoin seems to dip down a bit. Just curious if you guys think that will happen.
Also, this seems like it may be a bigger deal than past times as the government actually took over and was running one of these sites so I think people will be scared to continue to use them in the future which probably to a large extent menas
I feel like this time around it won't cause that much disruption in the overall crypto world. Things like Silk road were a lot bigger portion of the overall volume back in the day. I feel like we have reached a lot more people now so there are a lot of people buying in for a lot of different reasons.
Good point that there's a lot more bitcoin being used for various things where as in the early days a much bigger percentage of transactions probably would have been darkweb stuff.
I do think people are going to be hesitant to use sites like that for a while as its pretty crazy two go down in short succession and on top of that the dutch government was running one for a while, but like you said probably won't affect price that much.
So if Bitconnect goes under, so does Bitcoin price?
I don't know enough about Bitcoin and dark web marketplaces to form an opinion, but I did find this fascinating. I'm a bit confused as to whether this is about Hansa or AlphaBay. Is Hansa another black marketplace that succeeded AlphaBay and is now being shut down? Oh, I see now from the article what Hansa is.
All I can say is that for the long term acceptance of cryptocurrencies these shutdowns are entirely necessary and should be done as quickly and thoroughly as possible.
More dark business is done in USD than any other. It doesnt make USD bad nor bitcoin. There will always be dark places. No way to know how much demand for Bitcoin comes from illicit trade. Over time i guess the effect will be less and less. Besides even the bad guys have probably moved to alts due to transaction costs and processing time :)
Nah Bitcoin is gonna be fine 👌🏼