Over the past few months, the infamous electronic currency – the Bitcoin – has received much attention from media, the general public, and financial corporations worldwide. But although more and more companies are starting to offer their products and services in exchange for Bitcoins, this electronic currency is sometimes used to buy somewhat shady items, if not entirely illegal. While one may argue that the following things can be purchased with real money as well, the issue that arises when using the Bitcoin is that this electronic currency completely protects the identities of the buyer and the recipient, making it hard for law enforcement to intervene and stop the process.
Following, we would like to present you with a list we have compiled of the top 7 not-so-great things you could buy with Bitcoin. Let’s take a look.
No. 7: Escort agencies
In September 2013, a British escort agency stepped forward as the first such business to start accepting Bitcoins. However, there are reports that female “freelancers” had started accepting the virtual currency even before that. The issue with this situation? Because Bitcoin transactions occur completely online, it is hard, if not completely impossible, to prove what was bought with the money.
No. 6: Hacking tools
If you’re into hacking, you should know that you can purchase all of the necessary items using Bitcoins. Hacking tools were sold on the Silk Road, but other black markets also offer such products, which clients can easily purchase without divulging their identity.
No. 5: Forged documents
When federal agents closed in on the infamous Silk Road, it was discovered that, among other novelties, the site was also selling a wide range of forged documents, from driver’s licenses and passports to insurance reports and utility bills.
No. 4: Weapons
While there are a few legitimate merchants that sell guns and weaponry in exchange for Bitcoins, not all of them are. The underground black market for weapons has grown exponentially over the past few months, all using encrypted Internet protocols that won’t allow their IP addresses to be identified.
No. 3: Stolen credit cards
Apparently, there’s a black market for anything. Back in December of 2013, after it was reported that nearly 40 million Target Corporation (NYSE:TGT) customers had their credit card data stolen, an online black market where credit card info was being sold was located.
No. 2: The Assassination Market
The Assassination Market is basically a crowdfunding service that enables users to donate Bitcoins to political assassination projects that involve government officials. Given the fact that Bitcoin transactions are untraceable, all donors remain anonymous.
No. 1: Drugs
Although the notorious Silk Road was closed by federal agents, there are a ton of other black markets, such as Silk Road 2.0, where people can easily buy the drug of their choice using Bitcoins. Such black markets are completely unregulated and unsupervised, so anyone can buy what they please, under the protection of anonymity.
