Picture of the Day: U.S. Spy Rocket’s Official Logo is of a Giant Octopus Wrapped Around the Earth

This is unbelievable. I mean at this point these jerks are simply rubbing it in our faces. From Forbes: The Office of National Intelligence was very excited about sending a rocket into space Thursday with a bunch of new satellites and live tweeted its launch. This would usually be a cute display of social media, along the … Read more

Silk Road 2.0 Has Been Born…New Website Mocks the Feds

The “authorities” can shut down website after website, but the tide of new technology and the human spirit itself cannot and will not be overcome. This is the hard lesson that statists and collectivists will be learning the hard way in the years to come, as decentralization and freedom stage a gigantic, peaceful revolution. A revolution that is already in full swing and gaining tremendous momentum with each passing day.

It took only a little over a month for Silk Road 2.0 to launch on the “dark web,” and there are already close to 500 illegal drug listings. As part of the new service there is even a new security feature that allows users to use their PGP encryption key as an extra authentication measure. The login page itself is even a parody of the Department of Justice’s seizure of the original site in early October. This is what you see when you visit:

Screen Shot 2013-11-06 at 2.21.58 PM

More from Forbes:

On Wednesday morning, Silk Road 2.0 came online, promising a new and slightly improved version of the anonymous black market for drugs and other contraband that the Department of Justice shut down just over a month before. Like the old Silk Road, which until its closure served as the Web’s most popular bazaar for anonymous narcotics sales, the new site uses the anonymity tool Tor and the cryptocurrency Bitcoin to protect the identity of its users. As of Wednesday morning, it already sported close to 500 drug listings, ranging from marijuana to ecstasy to cocaine. It’s even being administered by a new manager using the handle the Dread Pirate Roberts, the same pseudonym adopted by the previous owner and manager of the Silk Road, allegedly the 29-year-old Ross Ulbricht arrested by the FBI in San Francisco on October 2nd.

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Stock Prices Have Risen Every Week the Fed Bought Bonds Since 2009

I can’t say this is surprising, but it’s still interesting to hear once and for all. Gotta love those non-existent free markets we hear so much about… From Forbes: Here is the most important factual find about the stock market I’ve learned for some  many years: More than 100% of equity market gains since January … Read more

Welcome to the Silk Road: A Mind-Blowing Interview with Dread Pirate Roberts

An entrepreneur as professionally careful as the Dread Pirate Roberts doesn’t trust instant messaging services. Forget phones or Skype. At one point during our eight-month preinterview courtship, I offer to meet him at an undisclosed location outside the United States. “Meeting in person is out of the question,” he says. “I don’t meet in person even with my closest advisors.” When I ask for his name and nationality, he’s so spooked that he refuses to answer any other questions and we lose contact for a month.

All my communications with Roberts are routed exclusively through the messaging system and forums of the website he owns and manages, the Silk Road… “The highest levels of government are hunting me,” says Roberts. “I can’t take any chances.”

– From Forbes’ recent article on the Silk Road

Most of my readers have probably heard of the Silk Road. No, not the historical trade routes that linked Europe to Asia, but rather the online illegal drug marketplace accessible only via anonymity browsing software Tor, and where the only currency accepted is Bitcoin.

Those of you who have heard about it, probably know far less about the man that runs it. A character who only goes by the name Dread Pirate Roberts. He’s a character who usually stays firmly in the shadows for obvious reasons, but who has come out and done an excellent interview with Andy Greenberg of Forbes. What follows are some of the more interesting exchanges. From Forbes:

An entrepreneur as professionally careful as the Dread Pirate Roberts doesn’t trust instant messaging services. Forget phones or Skype. At one point during our eight-month preinterview courtship, I offer to meet him at an undisclosed location outside the United States. “Meeting in person is out of the question,” he says. “I don’t meet in person even with my closest advisors.” When I ask for his name and nationality, he’s so spooked that he refuses to answer any other questions and we lose contact for a month.

All my communications with Roberts are routed exclusively through the messaging system and forums of the website he owns and manages, the Silk Road. Accessing the site requires running the anonymity software Tor, which encrypts Web traffic and triple-bounces it among thousands of computers around the world. Like a long, blindfolded ride in the back of some guerrilla leader’s van, Tor is designed to prevent me–and anyone else–from tracking the location of Silk Road’s servers or the Dread Pirate Roberts himself. “The highest levels of government are hunting me,” says Roberts. “I can’t take any chances.”

By the measure of Carnegie Mellon researcher Nicolas Christin, Roberts’ eBay-like service was grossing $1.2 million a month in the first half of 2012. Since then the site has doubled its product listings, and revenue now hits an annual run-rate of $30 million to $45 million by FORBES’ estimate.

Roberts also has a political agenda: He sees himself not just as an enabler of street-corner pushers but also as a radical libertarian revolutionary carving out an anarchic digital space beyond the reach of the taxation and regulatory powers of the state–Julian Assange with a hypodermic needle.

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Bit-Dating Has Arrived: OK Cupid Now Accepts Bitcoin

At the end of the day, the ultimate value of Bitcoin will have nothing to do with speculators or DDOS attacks.  The ultimate value of Bitcoin will be determined by end market adoption, which despite the dramatic rise and fall in recent weeks, appears to be continuing at an extremely rapid clip.  I supported Bitcoin publicly when it was only trading at 10, well before the recent run-up and mainstream financial media hype.  I support it just as much today as I did then, and I think the prospects have never looked better for the crypto-currency than right now.

In the latest news, we discover the OK Cupid dating site has decided to accept it as payment.  From Forbes:

As a company whose business proposition has gone from kind of weird to utterly commonplace in the space of a few years, OK Cupid has always been comfortable with novelty. Now it’s embracing a new technology that strikes a lot of people as too futuristic for comfort: Bitcoin.

Starting today, premium users of the IAC-owned dating service can pay for their subscriptions with the untraceable peer-to-peer digital currency.

OK Cupid CEO Sam Yagan says this is a forward-looking move, driven not by user demand but by the imperative to embrace a technology that’s not going away.

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America in 2013: For-Profit Prisons Get Favorable Tax Breaks

Here’s a great idea.  At a time when the debt of the country is exploding exponentially and we are running budget deficits that would be the envy of any banana republic, let’s give favorable tax treatment to for-profit prison companies.  This is a growth industry that we should all support, who cares that these United States has 5% of the World’s Population, yet 25% of its Prisoners.  May as well try to improve on that; just imagine how high we could get the prison population if we actually put a banker in jail?  From Forbes:

In early January 2013, both Corrections Corporation of America (CCA) and the GEO Group – the nation’s two largest private prison companies that control a combined 75 percent of the for-profit prison market in the United States – announced that they had each completed preliminary plans to convert their corporate structure to a Real Estate Investment Trust (REIT).

REITs are designed for companies that primarily invest in and generate revenue from real estate holdings, such as hotel chains; like other publicly-held corporations they trade on the stock market. There are special tax advantages for REITs, which generally pay no income tax. They also must distribute at least 90 percent of their income to shareholders in the form of dividends.

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Whistleblower Site “Science Fraud” is Shutdown

Considering how dirty the Food and Drug Administration (FDA) is, this appears to be yet another defeat for transparency.  Let’s not forget my post from last summer The FDA is Caught Spying on its Employees and Creating an “Enemies List” in order to recognize the importance of whistleblowing in the era of peak corruption we live in.  From Forbes:

Those of us concerned about the decaying credibility of Big Science were dismayed to learn that the whistleblower site Science Fraud has been shut down due to a barrage of legal threats against its operator.

Operated as a crowdsourced reference site much like Wikipedia, Science Fraud, in its six months of operation, documented egregiously suspicious research results published in over 300 peer reviewed publications. Many were subsequently retracted, including a paper by an author whose lawyer sent Science Fraud a cease and desist letter.

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Ben Bernanke Just Told a Massive Lie About Milton Friedman and I Can Prove it

Ben Bernanke is so desperate to find support regarding his steal from the poor and give to the 0.01% policies he is now telling blatant lies about famous, dead economists that can’t refute what he says.  In this case Milton Friedman.  In his Q&A today, The Bernank claimed: *BERNANKE: MILTON FRIEDMAN WOULD HAVE SUPPORTED WHAT … Read more