That didn’t take long. After Silk Road, a Bitcoin-based black market that specialized in drugs and other illegal purchases, was shut down by the FBI, values of a Bitcoin fell 15% and counting.
Bitcoin is taking it on the nose following the FBI seizure of Silk Road, a popular – and partially hidden – marketplace for drugs and other items generally outside the orbit of the law. As TechCrunch reported earlier today, about $1.2 billion in Bitcoin flowed through Silk Road, resulting in a nearly $80 million commission for the service.