Find Archives -
Three people are dead after someone opened fire on board an “adult-themed charter bus” early Saturday in Illinois, the Rockford Register Star reports. The driver of the Distinguished Gentleman private entertainment bus called 911 around 3:30am in Rockford to report shots fired. According to WIFR , the party bus had…
A San Jose family returned from vacation late Wednesday to find their home had been burglarized and at least two guns taken. Perhaps most alarming was a 20-page manifesto left on their kitchen table. In it, their estranged son, 44-year-old Dustin Hamilton, “made threats to kill people in San Francisco…
A small scar on the forehead. A habit of feeling nauseous when she cried. These are traits that a woman named Kang Ying and a child named Qifeng shared—helping to prove the two are one and the same. The BBC reports on the 24-year search for Qifeng, who disappeared…
Facebook Inc. said Wednesday it will now be easier for users to find and control privacy control settings and see the information the social media giant has about them — moves that come in the wake of the widening Cambridge Analytica data-misappropriation controversy.
The Menlo Park, Calif., firm…
With nearly every corner of Cairo plastered with campaign posters of President Abdel Fattah al-Sisi, what is difficult to find are the more subdued posters of Sisi’s little-known and only remaining rival, Mousa Mostafa Mousa. CNN’s Ian Lee reports.
CNN.com – RSS Channel – World
Police have discovered a 25-minute recording on a cellphone found with bombing suspect Mark Conditt , and Austin Police Chief Brian Manley says he considers it a “confession,” the AP reports. He said at a news conference Wednesday that Conditt talks on the recording in great detail about the differences among…
The price of BTC had increased in value significantly over the years, reaching $ 19,600 at its highest peak – and the exchange rate rests at $ 8,500 today. This is a stark contrast to just over a year ago when the digital currency’s value was under $ 1,000 per coin. Since the fiat value has increased so much it has made some early investors very rich. Moreover, there’s one group of early adopters that no one likes to talk about — darknet market vendors.
Wealthy Darknet Vendors Have Issues ‘Cashing Out’
Whether people like to talk about it or not, darknet markets (DNM) exist, and some people believe vices are not crimes. Some well-known bitcoiners have made millions gathering the currency in the early days but there are also anonymous millionaires that people will never know. DNM operators and vendors are among bitcoin’s earliest adopters since the inception of the first modern DNM the Silk Road launched in 2011. Estimates detail that the Silk Road took in $ 30-45 million annually with 146,946 buyers in 2013 and 3,877 vendors. When the Silk Road collapsed in October of 2013 many of those vendors moved on to newer DNMs and many of them still exist today.
According to a report by Vice author David Gilbert, lots of DNM vendors have obtained massive quantities of bitcoins by selling their wares and deeds online but cashing them out into fiat isn’t so easy. Gilbert details that many of the super-rich vendors have even contacted Swiss banks trying to exit into fiat in a quiet manner. Some have even offered bank employees 10 percent to get them “out of the situation.” Further, some DNM vendors from marketplaces like the Wall Street Market, the Point market, and others detail how they get their bitcoin’s back into the fiat system.
One method is mixing the coins and selling them locally to someone who is willing to pay cash for the cryptocurrency. Another procedure is purchasing prepaid cards with the BTC that offer credits and gift redemptions to a wide range of stores. A funny technique is using the payment service Western Union as one vendor sends his coins to platforms that “automatically transfer bitcoin to Western Union accounts.” Lastly, however, if a person decides to exchange their cryptos for fiat, the trick is to do it slowly, as one vendor remarks the process can be “slow and tedious.” The report goes on to quote another vendor who explains that roughly only 20 percent of these people have come up with “innovative ways of cashing out — 80 percent have no idea how to do it.”
Put Yourself Through School
DNM vendors have been making a lot of money for quite some time as news.Bitcoin.com reported back in 2016 the day-to-day affairs of everyday darknet merchants. One guy ran a one-man operation making $ 200-300 thousand USD per year and operations security (Opsec) was his top priority. Another DNM merchant made $ 150K annually and put himself through grad school selling LSD, DMT, ketamine, cocaine, and MDMA. The DNM merchant detailed that many vendors used their funds for schooling at universities so they could one day go ‘legitimate.’
It’s safe to say DNM vendors are some of the earliest adopters but many of them have to use rather unique methods of utilizing the funds. Additionally, these types of individuals and groups were some of the first people to give bitcoin its value proposition and utility as DNM vendors are quite literally crypto’s first merchants — and they still are very loyal. However, the evolution of blockchain surveillance companies has become a threat to DNM vendors and many of them may have to try different techniques to avoid the law.
What do you think about the darknet market vendors trying to ‘cash out?’ Let us know what you think in the comments below.
Images via Shutterstock, and Pixabay.
Need to calculate your bitcoin holdings? Check our tools section.
The post Some of Bitcoin’s Earliest Adopters Find it Difficult to ‘Cash Out’ appeared first on Bitcoin News.
There’s a new Japanese Android and iOS game called Itadaki Dungeon that allows players to earn small micro-bits of BTC while venturing through 3,000 underground levels. The free game is a 2D course filled with weapons, special items, and cryptocurrency treasure.
The 2D Mobile Game Itadaki Dungeon’s mBTC Incentives
The company Atstage Inc. has recently launched a 2D video game called, Itadaki Dungeon, which allows players to earn bitcoin while trying to beat roughly 3,000 courses. The levels feature a dungeon-type of atmosphere where players can use a sword, hammer, or gun to attack starving monsters waiting to harm them. While perusing through the medieval landscape, little bitcoins appear, and characters can snatch the coins up and add it to their collected items. Each bitcoin-treasure contains a small amount of mBTC, and Itadaki Dungeon players can try and gather as much as they can while playing the game.
The game has a 4.1 rating on the Google Play and iOS app store and has some decent reviews on the platform alongside positive reviews on other forums. For players familiar with the games “Itadaki Street” and “Dragon Quest” the entertainment is quite similar.
“Test your skills in an expansive dungeon with 3000 underground levels,” explains the Atstage Inc. developers.
The courses are simple with flat, one-lane paths that you can rush through on your way to the stairway to the next underground level.
The Japanese Dungeon Game Follows Other Video Games Incorporating Crypto-Rewards
The Atstage creation Itadaki Dungeon follows other video games and fun mobile apps that offer cryptocurrency rewards. For instance, there is the game Bitcoinbandit a mobile phone game that allows players to earn mBTC. Coins are collected in the tournament mode within the game, and top-ranking players can earn additional mBTC payments. The game Counterstrike Global Offense (CS: GO) offers virtual currency rewards in Digibyte. While other altcoin networks like the game Spells of Genesis has integrated cryptocurrency rewards as well. Pokébits is a Pokémon RPG browser game that adds a BTC faucet to the gaming experience. Players compete in missions throughout well known Pokémon arenas while earning satoshis.
Just like the other games, Itadaki Dungeon will attempt to attract players with mBTC rewards. The game is free, but don’t expect to be a ‘bitcoin-millionaire’ overnight playing the Japanese mobile game, as the game’s reviews say you got to play a lot of courses to earn small fractions of mBTC.
What do you think about Itadaki Dungeon? Does playing countless hours of dungeon-like courses interest you if you are rewarded in mBTC? Let us know your thoughts about this game in the comments below.
Images via Itadaki Dungeon, Atstage Inc., and the Steemit user Shogun.
At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.
The post Find Real BTC Rewards Roaming 3,000 Levels in New Japanese Mobile Game appeared first on Bitcoin News.
Didn’t pass inspection.
Researchers studying invasive Burmese pythons in Florida came upon something they’d never seen before: an 11-foot-long python had consumed an entire deer that weighed more than the snake itself. The AP reports the wildlife biologists tracking the slithery creatures stumbled upon the bloated snake in Collier Seminole State Park, and…